Access Bank PLC has been named as the only Nigerian company on the 2024 World’s Best Employers List by Forbes in reflection of its dedication to fostering a workplace culture that prioritises employee empowerment, inclusivity, and gender equity, leading full-service commercial bank. As one of only 13 African companies to receive this distinction amongst the …read more →
AFRICAReports
Access Holdings Reaffirms Commitment to Driving Inter-, Intra-African Trade
Access Holdings Plc, the parent company of Access Bank Plc, has announced a series of initiatives aimed at empowering small businesses across Africa and enhancing intra-African trade. During a recent media roundtable, the leadership team, including Acting GCEO Ms. Bolaji Agbede, and Group Managing Director/CEO, Roosevelt Ogbonna, shared insights on the company’s strategic priorities for …read more →
FG To Begin $750m World Bank Electrification Project For 17.5 Million Nigerians
The Rural Electrification Agency (REA) says starting in November, the Federal Government will kick-start a new rural electricity project bankrolled by the World Bank to provide electricity for 17.5 million Nigerians. The Agency’s Managing Director, Abba Aliyu, who revealed this on Channels Television’s Sunrise Daily programme, also said his agency has plans to provide cheap …read more →
Savannah Energy Records 3% Increase in Nigerian Production; 40% Boost in Financial Performance
British independent energy company, Savannah Energy PLC recorded a strong financial performance as its total unaudited income for the half-year, which ended 30 June 2024, increased by 40 per cent to $233.4 million, compared to $167.6 million in the same period in 2023. In terms of operations, the company’s average gross daily production in Nigeria …read more →
FG Begins Naira-for-Crude Sale with Dangote Refinery
The Minister of Finance, Wale Edun, has announced that the Nigerian government has begun the Naira-for-crude sale deal with Dangote Refinery from October 1, 2024. The minister disclosed this in a statement released on the official X account of the Ministry of Finance on Saturday. According to Edun, the commencement was in line with in …read more →
Prolonged Monetary Tightening May Discourage Investment, Slowdown Growth, Rewane Warns
The Managing Director/Chief Executive Officer of the Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has warned that sustained monetary tightening could discourage investments and slow down economic growth. Rewane, therefore, called for an urgent handshake between the fiscal and monetary authorities to avert a situation where continued monetary tightening would lead to economic recession. …read more →
African Oil Producing Countries Raise $5bn Capital for Abuja-Based Energy Bank
African oil-producing nations planning to launch a $5 billion energy bank next year in Abuja have already secured 45 per cent of the required startup capital. The bank aims to address the funding gap created by traditional investors shifting their focus from crude oil to low-carbon energy. According to Omar Farouk Ibrahim, Secretary General of the African …read more →
Shell Names Adams SNEPCo’s New MD
Shell has named a new Managing Director for its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo.) He is Ronald Adams, formerly Chief Executive Officer of Atlantic LNG, Trinidad and Tobago. He takes over from Elohor Aiboni who proceeds on international assignment to Brunei Shell Petroleum (BSP) as Asset Director. Both …read more →
FG to Increase Investments in New Technologies, Alternative Fuels for Better Shipping Operations – Oyetola
The Minister for Marine and Blue Economy, Adegboyega Oyetola, CON, has assured that the Federal Government will increase investments in new technologies and alternative fuels to ensure safe shipping operations in the country. Oyetola, who was represented by the Ministry’s Permanent Secretary, Mr. Oloruntola Olufemi, spoke during the celebration of World Maritime Day (WMD) 2024 …read more →
Regfyl Raises $1.1 Million to Expand Unified Compliance Platform Across Africa
Nigerian startup Regfyl has raised $1.1 million in pre-seed funding, to enhance its platform aimed at simplifying compliance for businesses. This funding round, led by Rally Cap alongside contributions from Techstars, DCG, Musha Ventures, Africa Fintech Collective, and angel investors, will allow the company to expand its workforce, particularly in sales, engineering, and customer support. Additionally, …read more →