Haldane McCall PLC has announced a remarkable financial performance for 2024, with pre-tax profit soaring to N1.01 billion—a 168.44% increase from the previous year. Revenue also grew by 109.50%, reaching N3.6 billion, driven by strong land and building sales. Explore the full breakdown of their financial highlights, including asset growth and operational insights, in this detailed report.
USAID, which has pulled $100 million in non-dilutive grants. This move threatens innovation in healthcare, agriculture, and clean energy, forcing entrepreneurs to explore alternative funding avenues. As Silicon Savannah navigates this shift, the question remains—how will startups adapt to the loss of crucial development funding?
In a bold move, OpenAI CEO Sam Altman dismissed Elon Musk’s $97.4 billion takeover bid with a witty remark, reinforcing OpenAI’s commitment to independence. The rejection further fuels tensions between the two AI pioneers, who are already entangled in legal disputes over OpenAI’s direction.
In terms of value, we grew by 20.7% to $5.45 billion, and we are now represented in 126 countries. This is a clear indication that Nigeria is making significant progress,” stated Dr. Nonye Ayeni, Executive Director of NEPC.
The Norwegian Refugee Council (NRC) is halting humanitarian aid in nearly 20 countries due to the U.S. government's foreign aid freeze. This decision impacts 1.6 million people globally, including vulnerable communities in Ukraine, Sudan, and Burkina Faso. NRC warns of severe consequences and urges immediate action to restore funding
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.
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.
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.
Presco PLC’s 2024 financial results highlight exceptional growth, with pre-tax profit soaring 156% to N128 billion and revenue jumping 93% to N198.1 billion. The company’s strong performance was fueled by robust sales in Nigeria and Ghana, alongside significant gains from asset revaluation and exchange gains. Despite rising operational costs, Presco achieved a 108% increase in gross profit, showcasing its resilience and efficiency. Total assets also expanded to N422 billion, reflecting the company’s solid financial position.