TBD Announces Hackathon Grants to Improve Payment Systems in Africa

TBD, a division of Block, has launched the TBD Hackathon in collaboration with the Africa Bitcoin Conference. This competition aims to foster innovation and technological advancement in African payment systems using the tbDEX open-source protocol. The hackathon's submission period runs from July 31, 2024, to September 15, 2024, with the event concluding at the Africa Bitcoin Conference in Nairobi, Kenya, from December 9-11, 2024.

Top 50 Finalists Announced for Africa’s Business Heroes 2024 Prize

Africa’s Business Heroes (ABH) Prize Competition has announced its Top 50 Finalists for 2024, selected from nearly 20,000 applicants across all 54 African countries. Supported by the Jack Ma Foundation and Alibaba Philanthropy, ABH aims to honour and elevate African entrepreneurs, establishing itself as the continent’s largest and most inclusive competition.

Nigeria Launches Greener Hope National Agricultural Mechanisation Programme to Transform Agriculture

In a significant advancement for food security and economic growth, Nigeria’s Federal Executive Council has greenlit the Greener Hope National Agricultural Mechanisation Programme (GHAPP). Led by Origin Tech Group in partnership with the Ministry of Agriculture and Food Security, GHAPP is set to transform the agricultural landscape by enhancing productivity and fostering sustainable development.

Arik Air Suspended By Court Over $2.5M Debt — NAMA

The Nigerian Airspace Management Agency (NAMA) has confirmed that Arik Air’s operations were suspended due to a Supreme Court order related to a $2.5 million debt.

Crypto Market Cap Drops to $2.4T as Bitcoin Pulls Back

The global cryptocurrency market cap has fallen by approximately 3.3% over the past 24 hours, settling at $2.4 trillion, according to data from major cryptocurrency exchanges.

African Development Bank Unveils 54 Country Focus Reports, Offers Detailed Insights and Dynamics for Policymakers

The African Development Bank Group (AfDB) has released a series of 54 Country Focus Reports aimed at improving policy discussions on the macroeconomic performance and prospects of individual African nations. These reports serve as crucial resources for policymakers, government officials, and development partners.

24 African Health Supply Chain Innovators Emerging as Market Leaders

...Reaching 50,000 Providers Across 33 Countries

Salient Advisory, a healthcare consulting firm funded by the Gates Foundation, has released a new market intelligence report highlighting 24 top health supply chain innovators in Africa. The report, titled "Leading Innovations Enabling Health Product Access in Africa," reveals that innovators are emerging as significant market leaders despite challenging economic conditions and declining investment in the African tech sector.

Collaboration Key to the Future of Payment Service Banks in Nigeria – 9PSB CEO

Nigeria’s payment service bank, 9PSB, has emphasized that the growth of Nigeria’s payment ecosystems and increased collaboration among stakeholders are crucial for the future of payment systems in the country. This assertion was made by Nasiru Isyaku, Executive Director of Finance and Banking Operations, who represented the Managing Director and CEO, Branka Mracajac, at the Nigeria Fintech Forum held at The Civic Centre, Victoria Island, Lagos.

President Tinubu Approves New Unit for Health Sector Renewal

President Bola Tinubu has approved the creation of the Sector-wide Coordinating Office-Programme Management Unit (SCO-PMU) within the Office of the Coordinating Minister of Health and Social Welfare.

Netflix Raises Subscription Fees Again for Nigerian Users Amid Economic Hardship

Netflix, the American streaming giant, has once more increased its subscription fees for Nigerian users, marking the second hike within four months. The previous price increase occurred on April 1, 2024.

Consumer Confidence Rises as 61% Anticipate Financial Improvement in the Next Six Month

WARC has unveiled its 2024 Global Consumer Trends report, which delves into the pivotal factors shaping consumer purchase decisions across brands and categories, with regional insights for Asia-Pacific, Europe, and North America.

Intron Health Secures $1.6M Pre-seed Funding to Develop AI for Global Health

Intron Health, a pioneering health tech company specialising in clinical speech recognition for over 200 accents spoken in developing countries, particularly in Africa, has raised $1.6M in pre-seed funding. The funding round was led by Microtraction, with contributions from Plug and Play Ventures, Jaza Rift Ventures, Octopus Ventures, Africa Health Ventures, OpenseedVC, Pi Campus, Alumni Angel, and Baker Bridge Capital. Angel investors from global companies such as Google, CLEAR Global, NYU, and Optum also participated.

REVEALED: Real Madrid Becomes First Football Club to Surpass $1 Billion in Annual Revenue

Real Madrid, the most successful club in world football, has set a historic benchmark by announcing an annual revenue exceeding $1 billion, excluding income from player sales.

FSCA Issues Urgent Fraud Alert Over Mutual Impersonation on Telegram

The Financial Sector Conduct Authority (FSCA) of South Africa has issued a warning regarding a fraudulent Telegram channel impersonating the Old Mutual Limited Group. This alert is part of the FSCA's broader effort to combat financial fraud and protect consumers from unauthorised financial activities.

AfDB’s Akinwumi Adesina Updates African Leaders on Bank’s Financial Mobilization Successes

Dr. Akinwumi Adesina, President of the African Development Bank Group (AfDB), recently briefed African leaders on the Bank’s achievements in mobilising financial resources for the continent's development needs at the African Union.

DLM Asset Management and Sofri Celebrate Arts and Culture at Jazz & Dance 2024

DLM Asset Management and Sofri, both subsidiaries of DLM Capital Group, proudly sponsored the maiden edition of Jazz & Dance 2024, held on July 21, 2024, at Alliance Francaise, Ikoyi. The collaboration underscores the group’s commitment to supporting the arts, culture, and the vibrant community that thrives on creativity and expression.

FCCPC Imposes $220m fine on Meta for Data and Consumer Rights Violations in Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) has imposed a significant $220 million fine on Meta Platforms Incorporated for multiple violations of Nigerian data and consumer protection laws. This unprecedented action was announced by Dr. Adamu Abdullahi, Acting Chief Executive Officer of the FCCPC, following a thorough investigation from May 2021 to December 2023.

Kuramo Capital Management Named Fund Manager for Nigeria Wholesale Impact Investment Fund

The Impact Investors Foundation (IIF) have announced the selection of Kuramo Capital Management as the fund manager for the Nigeria Wholesale Impact Investment Fund (WIIF). The collaboration represents a pivotal step in advancing Nigeria's sustainable development and impact investment initiatives.

LG Highlights the Difference Between OLED, QNED, and Others as Instore Gaming Takes Center Stage

LG Electronics (LG) has announced the launch of its LG OLED Instore Gaming Tournament in Lagos, Nigeria. The exciting event will feature a FIFA tournament, offering participants a chance to compete for the grand prize. Running from July to August 2024, the tournament will see players battling it out each Saturday, with winners advancing to the final showdown at the Challenge Arena in Lekki Brandshop on August 18, 2024.

AAAN Elects Noah’s Ark CEO, Lanre Adisa as President

The Association of Advertising Agencies of Nigeria (AAAN) has elected the Managing Director and Chief Creative Officer of Noah’s Ark Communications, Mr. Lanre Adisa as its 20th President at its 51st Annual General Meeting (AGM) held in Ogun on Saturday, July 20, 2024.

Promasidor Nigeria Appoints Eno Udoma-Eniang as Corporate Affairs & IDF Director

Promasidor Nigeria Limited has announced the appointment of Dr. Eno Udoma-Eniang as Corporate Affairs & Ikun Dairy Farm (IDF) Director, effective July 8th, 2024.

New Era of Inclusive Energy Dialogue Begins as Sankofa Events to Acquire Africa Oil Week

Africa Oil Week (AOW), the prominent Africa-hosted oil and gas conference will be acquired by Sankofa Events, a London-based startup established in July 2024 and led by Paul Sinclair, former Government Relations Executive of Africa Oil Week. This acquisition aims to transform the conference by promoting investment and development in the African energy sector. The African Energy Chamber (AEC) sees this strategic move as crucial for fostering a more inclusive dialogue on African energy matters. Under Sankofa Events, AOW has the opportunity to redefine itself as an event that is not only hosted in Africa but driven by African interests.

LG's New Campaign "Life's Good When You Get More Care" Puts Family and Home at the Center

LG Electronics (LG) has launched its latest campaign of short videos under the “Life’s Good” brand slogan, titled "Get More Care." This follows the success of previous themes “Get More Love” and “Get More Magic,” aiming to showcase how LG products foster small gestures of love and care among family members, creating true "Life’s Good" moments filled with unforgettable experiences.

Emirates SkyCargo Orders 5 More Boeing 777 Freighters

Emirates SkyCargo, the cargo division of the world's largest international airline, has placed a firm order for five additional Boeing 777 freighters. The US$ 1 billion order, with deliveries scheduled between 2025 and 2026, will increase the airline's total fleet to 315 wide-body aircraft.

WISCAR and UN Women Conduct Workshop on Gender-Responsive Procurement for Private Sector

Women in Successful Careers (WISCAR), in partnership with UN Women and other development organisations, conducted a one-day workshop focused on Gender-Responsive Procurement (GRP) at the Pearlwort Hotel & Suites Ikeja. This event was specifically tailored for procurement officers in private sector organisations.

Nigeria Prepares for Satellite Upgrade as NIGCOMSAT-1R Nears End of Service

The Nigerian Communications Satellite Limited (NIGCOMSAT) has begun the process of replacing its communications satellite, NIGCOMSAT-1R, by actively seeking international investors and partners. This initiative, led by NIGCOMSAT’s Managing Director Jane Nkechi Egerton-Idehen, responds to the impending end of NIGCOMSAT-1R’s operational lifespan, anticipated in 2026 after 15 years of service.

African Development Bank Leads 2024 Aid Transparency Index with Top-Ranked Sovereign Portfolio

Publish What You Fund, a global advocate for aid and development transparency, has recognised the 

African Development Bank (AfDB) once again for its exemplary transparency in its sovereign portfolio. The Bank secured the top position out of 50 global development institutions, achieving a remarkable score of 98.8 in the 2024 Aid Transparency Index released today.

Kaspersky to Shut Down U.S. Market Amid Security Concerns

Russia's cybersecurity and anti-virus provider firm, Kaspersky is set to quit the United States market and lay off dozens of employees following the government order issued in June that banned the sale of Kaspersky’s software, citing national security risks.

Google Invests in India's Open-Source Ride-Sharing App, Namma Yatri

Google has invested in Moving Tech, the company behind Namma Yatri, an open-source ride-sharing app in India that competes with Uber and Ola. 

FIFA Launches Tender for Media Rights to Revamped Club World Cup

FIFA, the international governing body for football, has initiated the tender process for media rights to its revamped Club World Cup, covering the inaugural 2025 edition and the 2029 edition.

Adapting to Change: Lagos NIPR Urges PR Pros to Embrace Tech Innovation on World PR Day

In celebration of World PR Day, the Lagos Chapter of the Nigerian Institute of Public Relations (NIPR) has called on PR professionals to adapt to the rapidly changing world.

Saudi Arabia to Host First Olympic Esports Games in 2025

Saudi Arabia has been confirmed as the host of the inaugural Olympic Esports Games in 2025, marking the kingdom's significant entry into the competitive e-gaming arena. The event will be held as part of a 12-year partnership between the International Olympic Committee (IOC) and the National Olympic Committee (NOC) of Saudi Arabia. 

GTCO PLC Announces Public Offer to Raise N400.5 Billion

Guaranty Trust Holding Company plc ("GTCO PLC" or the "Issuer") has announced the opening of its subscription offer for 9,000,000,000 ordinary shares at 50 kobo each, priced at N44.50 per share. This follows the clearance of the offer prospectus and registration by the Securities and Exchange Commission, Nigeria (SEC Nigeria). The net proceeds from the offer will be used to recapitalise GTCO PLC’s principal banking subsidiary, Guaranty Trust Bank Limited (GTBank Nigeria), and to support group-wide growth and expansion initiatives.

Apple Vision Pro Expands to UK, Canada, Australia, France, and Germany

After selling out in the United States, China, Hong Kong, Japan, and Singapore, Apple's Vision Pro spatial computing headset is now available at Apple Store locations in the United Kingdom, Canada, Australia, Germany, and France.

FIAT Celebrates 125 Years with a Smile to the Future

FIAT commemorated its 125th anniversary with the "Smiling to the Future" ceremony at the "La Pista 500" in the Lingotto building in Turin. During the event, FIAT CEO Olivier Francois unveiled the company's vision for the next decade, introducing the Fiat 500e Giorgio Armani, epitomising Italian excellence, and the Fiat Grande Panda, signalling FIAT’s return to the global mainstream market. Additionally, the Pinacoteca Agnelli now hosts the new Casa FIAT exhibition, showcasing the brand’s history and its ties to the Lingotto building.

Airtel Unveils Smart Router for Enhanced Connectivity and Entertainment

Airtel Nigeria, a leading telecommunications company, has introduced the Airtel Smart Router, a new device capable of connecting up to 10 devices simultaneously.

Professional Fighters League Launches Africa League

...MMA Superstar Francis Ngannou Named PFL Africa Chairman

The Professional Fighters League (PFL), known for its rapid growth and innovation in sports, has unveiled PFL Africa, the first premium Mixed Martial Arts (MMA) league spotlighting top African athletes. The new league will feature a complete sport-season format with Regular Season, Playoffs, and Championship events across the African continent.

Black Pelican Group Celebrates 20 Years Anniversary ith 20km Ride

As part of its 20th-anniversary celebrations, Black Pelican Group; Nigeria's leading total interior solutions provider, partnered with Cycology, a cycling club promoting healthy lifestyles and social development, to organise a 20km ride on the 6th of July 2024.

Samsung Unveils Galaxy Z Fold 6 and Z Flip 6 with Advanced AI Capabilities

...Showcases New Earbuds, Smartwatch, Galaxy Ring 

Samsung has introduced the Galaxy Z Fold 6 and Z Flip 6, featuring the powerful Snapdragon 8 Gen 3 processor, optimised for generative AI processing and enhanced graphics performance.

Nigerian Music's Global Ascendancy: A New Era of Afrobeats Dominance

Spotify has unveiled its Global Impact List in Nigeria, recognizing the top 30 tracks from Nigeria with the biggest global impact on Spotify over the first half of 2024. The list recognises Nigerian tracks that have had the most listens from outside Nigeria in the first half of 2024, and were released between January 1st - June 30th.

Zenith Bank, First Bank, and UBA Enhance Payment Processing by Joining Zone's Decentralized Network

Zone, Africa's leading payment infrastructure company, today announced that three of the continent’s largest financial institutions—First Bank, UBA, and Zenith Bank—have joined its decentralized payment network. The move follows Zone’s recent $8.5 million seed funding round, led by Flourish Ventures and TLcom Capital, and the launch of its decentralized PoS Payment Gateway, ZonePOS. These developments mark significant progress toward Zone’s mission of connecting all monetary stores of value through blockchain technology.

Innovate Africa Launches $2.5M Angel Fund to Empower Early-Stage African Startups

Innovate Africa, an angel investment fund dedicated to supporting early-stage founders in Africa, has officially launched with an initial $2.5 million fund. Co-founded by Kristin Wilson and Christian Idiodi, this sector-agnostic fund aims to back up to 20 startups in its first year, addressing pressing issues such as insecurity, unemployment, and poverty through innovative, purpose-driven technology.

Minister Advocates for National Digital Economy and E-Governance Bill

The Minister of Communications and Digital Economy, Dr. Bosun Tijani, on Tuesday, called for support for the National Digital Economy and E-Governance Bill, emphasising that once enacted, the bill would provide a robust legal framework to accelerate the nation’s digital economy agenda.

FG Inaugurates Planning Committee for 30th Nigerian Economic Summit

On Tuesday, July 9, 2024, Senator Atiku Bagudu, Minister of Budget and Economic Planning, inaugurated a Joint Planning Committee for the 30th Nigerian Economic Summit (NES) in Abuja. This committee is tasked with shaping national development through the summit.

Arab Africa Trade Bridges Program Marks Milestone Agreements in Tunis Summit

The Arab Africa Trade Bridges (AATB) Program has concluded its 4th Board of Governors (BoG) Meetings in Tunis, Tunisia, held alongside the Tunisia Africa Business Meeting (TABM) from July 2, 2024. The event stands as a significant milestone in bolstering trade, economic collaboration, and regional integration between African and Arab nations.

Jude Chiemeka Becomes New CEO of Nigerian Exchange Limited

The acting Chief Executive Officer of Nigerian Exchange Limited (NGX), Jude Chiemeka has been confirmed by the Nigerian Exchange Group Plc (NGX Group), effective July 1, 2024, after receiving approval from the Securities and Exchange Commission (SEC). Mr. Chiemeka has worked in an acting capacity for the role since January 1, 2024, following Temi Popoola's appointment as Group Managing Director and Chief Executive Officer.

Banji Fehintola Named New Executive Director of Financial Services at Africa Finance Corporation

Africa Finance Corporation (AFC), a leading provider of infrastructure solutions in Africa, has appointed Banji Fehintola as its new Executive Director of Financial Services, effective August 1. Banji will leverage his extensive financial expertise and leadership skills to drive AFC's strategic initiatives, fortify its economic standing, and propel its growth trajectory.

Open Startup Launches $50,000 Pre-seed Accelerator Program, Calls For Applications

Open Startup (OST) has announced a call for applications for its prestigious OST Program, aimed at nurturing the African startup ecosystem. In partnership with Columbia Engineering and Columbia Business School, the program targets early-stage startups and talented entrepreneurs from Tunisia, Senegal, and Morocco.

PAIX Data Centres Boosts Ghana Capacity to 1.2 MW with $30M Africa50 Investment

PAIX Data Centres, a premier Pan-African developer and operator of data centres, has announced the expansion of its Accra facility to 1.2 MW. This significant enhancement is set to bolster the digital economy by improving connectivity and fostering economic growth. Africa50, a prominent pan-African infrastructure investor and asset manager, has infused over $30 million in growth equity into PAIX Data Centres to support its market expansion and facility upgrades.

AFD Unveils Three-Pillar Strategic Partnership with Nigeria

The Agence Française de Développement (AFD) Group has announced a refreshed strategic plan for the next decade, focusing on three key pillars to enhance their collaboration with Nigeria.