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An EFCC witness testified that Arik Air repaid 38% of its foreign loans prior to its takeover by AMCON. This statement adds to the ongoing controversies surrounding the airline's acquisition in 2017.
Akwa Ibom State Government has announced the inaugural international flight for Ibom Air from Uyo to Accra. This marks a significant step in the expansion of aviation in the region.
Akwa Ibom State Government has set the date for Ibom Air's inaugural international flight to Accra. This marks a significant step in the expansion of aviation in the region.
BUA Foods Plc has achieved a market capitalization of N17.4 trillion, reclaiming its position as Nigeria's most valuable company. This milestone highlights the company's significant growth and market presence.
Applications for the Women in Tech Accelerator are closing soon, offering $10,000 grants to support women in the tech industry. This initiative aims to empower female entrepreneurs and innovators in Nigeria.
Infinity Trust Mortgage Bank Plc has reported a 56% increase in profit for the first quarter, driven by expanded lending activities. This strong performance highlights the bank's successful growth strategy in the mortgage sector.
STL Trustees Limited has successfully exceeded the N2 billion capital requirement set by the Securities and Exchange Commission. This achievement marks a significant milestone for the company as it establishes its market leadership at 30 years of operation.
The UPDC Real Estate Investment Trust is experiencing significant growth as more investors enter the market. This trend indicates a positive outlook for the REITs sector in Nigeria.
Vicky Haastrup has been awarded the Vanguard Woman Entrepreneur of the Year. She is the CEO of ENL Consortium Limited and chairperson of the Seaport Terminal Operators of Nigeria.
Nigeria is enhancing its small businesses' capacity for global trade through new digital labs launched by TikTok and the International Chamber of Commerce. This initiative aims to boost SME export growth and improve digital skills.
African startups saw a significant funding boost, raising $600 million in Q1 2026, marking a 27% increase from the previous year. This surge is attributed to a debt boom that is enhancing investment opportunities across the continent.
Coronation Group Limited has received an A-/A1 upgrade from GCR Ratings, indicating a strong financial position. The outlook remains stable, reflecting confidence in the company's future performance.
International Breweries Plc's profit after tax dropped to N19.6 billion in the first quarter of 2026 due to increasing cost pressures. This decline highlights the challenges faced by the company in maintaining profitability.
Chemical and Allied Products (CAP) Plc has reported a profit after tax of N1.58 billion for the first quarter. The company's cash flow has also shown significant improvement during this period.
Nigerian businesses are increasingly exploring AI tools to enhance their operations. Understanding readiness for AI implementation is becoming a key focus in boardrooms across the country.
Zimbabwe is preparing to launch its first gold-backed exchange-traded fund (ETF) by First Mutual Wealth Management. The listing is targeted for May on the Victoria Falls Stock Exchange.
United Capital reported a 66% increase in quarterly profit, with gross earnings reaching N17.2 billion. The growth was driven by improved fee income and gains on financial assets.
Playtek Technologies Limited plans to launch four new products in the African market by Q3 2026. This initiative highlights the company's commitment to expanding its presence across the continent.
Tope Adebayo has proposed measures aimed at enhancing trade finance in Nigeria. These initiatives are designed to minimize disputes and promote smoother commercial transactions.
Waltersmith has successfully doubled its refining capacity to 10,000 barrels per day. The upgraded facility will now produce a wider range of products, including Premium Motor Spirit and Aviation Turbine Kerosene.
Africa Prudential has reported a profit of ₦782.3 million for Q1 2026, indicating strong financial performance. The company's total assets also increased, reflecting growth in its balance sheet.
Elizabeth Igwe is a brand strategist focused on enhancing the global presence of African leaders and brands. Her firm aims to differentiate between publicity and effective positioning for greater authority.
CWG Plc's Cameroon subsidiary has become the fastest-growing market, surpassing Uganda in revenue growth. This development highlights the company's expanding influence in the African technology sector.
Shell is set to acquire Canadian energy company ARC Resources for $16.4 billion. This deal will enhance Shell's access to shale gas and liquids production.
Ibom Air has expressed concerns about the rising cost of aviation fuel, now spending N7.6 million per flight. The airline warns that these expenses could lead to unsustainable operations in Nigeria.
Ibom Air has issued a warning about potential flight reductions due to a significant increase in aviation fuel prices. Domestic airlines may also consider a temporary shutdown in response to the rising costs.
An Indian firm, VFS Global, reportedly forced out a Nigerian company from Purple Mall by paying N62 million in rent, citing competition. The situation escalated when the Nigerian firm sought new office space after learning of VFS Global's relocation plans.
Aliko Dangote is exploring the possibility of listing parts of his business on the Ethiopian Securities Exchange. This move is part of a broader strategy to enhance pan-African investment opportunities.
International Breweries Plc's profit after tax dropped to N19.6 billion in Q1 2026 due to increasing cost pressures. This decline highlights the challenges faced by the company in the current economic climate.
Woodhall Capital has partnered with Mama Cass Group for financial advisory services to support their expansion plans. This collaboration aims to enhance growth opportunities for the Mama Cass brand.