UACN Plc’s 2024 financial results showcase a remarkable 109% jump in pre-tax profit to N25.8 billion, fueled by a 64% revenue increase. With strong growth in key segments and improved margins, the company remains optimistic but cautious about rising debt levels.
AFC has secured a $400 million Shariah-compliant Murabaha facility, highlighting strong investor confidence and Africa’s growing role in Islamic finance. The oversubscribed transaction attracted major Islamic financial institutions, supporting AFC’s mission to develop critical infrastructure across the continent.
US has quietly removed the visa drop box renewal option for Nigerian applicants, reverting to mandatory in-person interviews. This shift comes amid long wait times and a backlog of applications, impacting frequent travelers, students, and business visitors.
EasyBank, a Tunisia-based fintech startup, has raised $370,000 to drive its expansion into new markets. With AI-powered financial services, the company simplifies banking and enhances accessibility. This investment will accelerate its growth and reinforce its position in the fintech industry.
Cedar Money, a fintech startup leveraging stablecoins for cross-border transactions, secured $9.9 million in seed funding. Led by QED Investors, this funding will enhance payment efficiency and regulatory compliance, particularly in emerging markets.
Building a great product isn’t just about having an innovative idea—it’s about execution, focus, and understanding users’ needs. Michael Seibel, CEO of Y Combinator, outlines key principles that have helped successful startups thrive. From solving real problems to keeping operational costs low, these lessons are especially relevant for Nigerian entrepreneurs navigating a dynamic and evolving market.
SeamlessHR, a leading Nigerian HR-tech startup, has secured $9 million in Series-A extension funding from investors like the Gates Foundation and Helios Digital Ventures. With this boost, the company is expanding into Nigeria’s public sector, targeting government agencies to modernize HR operations.
Discover how to create a winning pitch deck that captures investor interest and secures funding for your Nigerian startup. This guide covers key strategies, from crafting a compelling story to showcasing market potential and business traction.
Diageo has sold its 80.4% stake in Guinness Ghana Breweries to Castel Group for $81 million. The deal strengthens their long-term partnership while Diageo retains ownership of the Guinness brand, licensing it to Guinness Ghana. This follows Diageo’s earlier divestment of its stake in Guinness Nigeria. The transaction is pending regulatory approvals and is expected to be finalized in 2025.
Geregu Power Plc announced record-breaking 2024 results, with revenue reaching N137 billion and PAT growing by 71% to N27.4 billion. The company proposed a N21.25 billion dividend and invested heavily in plant upgrades, showcasing its commitment to growth and shareholder returns.