Ghana’s central bank has maintained its main interest rate at 29 percent for the third consecutive meeting, emphasizing the need for a strong monetary stance amid ongoing inflation uncertainties. This decision, announced on Friday, defied economists’ predictions of a 50-basis-point cut. “Although inflation is expected to stay within the target range for the year, risks…
Byyomide Otitoju FCMB Group has reported a significant 68.1 per cent increase in profit for the first half of the year, reaching N59.5 billion, up from N35.4 billion in the same period last year. This impressive growth was disclosed in the group’s quarterly report and financial statements for the period ended June 30, filed with…
By Ayomide Otitoju On Friday, the Nigerian National Petroleum Company Limited (NNPCL) announced a significant recruitment drive for various positions across multiple departments within the energy company. The recruitment marks the first since NNPC’s full transition into a limited company in 2022. In a statement published on the company’s website, Soneye, a representative of NNPCL,…
The world’s richest 1 per cent have accumulated $42 trillion in new wealth over the past decade, according to a new analysis by Oxfam. This figure is nearly 34 times more than the combined wealth of the entire bottom 50 per cent of the global population. Oxfam, a British-founded confederation of 21 independent non-governmental organisations…
Digital solutions provider Globacom has launched a new customer-focused service, Glo Flex Win, allowing subscribers to have fun and win cash by showcasing their intelligence. In a statement from Lagos, Globacom announced, “Subscribers will be presented with trivia questions covering a wide range of topics from general knowledge to pop culture and beyond. With each…
First City Monument Bank (FCMB) has launched a new initiative to tackle gender inequality in Nigeria’s business sector by offering zero-interest loans to female entrepreneurs. The SheVentures programme, as it is called, provides interest-free loans of up to N10 million and tailored support specifically for women in the export and agricultural sectors. According to a…
Accra, Ghana – The National Communications Authority (NCA) has responded to public concerns about the high cost of internet data and the recent designation of MTN as a Significant Market Power (SMP). The NCA clarified that the SMP classification aims to foster fair competition rather than penalize MTN. The NCA stressed that its primary objective…
By Ayomide Otitoju Lagos, Nigeria – FirstBank, a leading financial institution in West Africa, has announced the continuation of its VISA Cross Border and Summer campaign in collaboration with VISA. Running from April 1, 2024, to August 31, 2024, this campaign is designed to reward existing VISA Gold and VISA Infinite cardholders, as well as…
Abuja, Nigeria – The National Bureau of Statistics (NBS) has reported a significant rise in food prices, coinciding with an increase in the country’s headline inflation rate. According to the Bureau, headline inflation for June 2024 rose to 34.19%, up from 33.95% in May 2024. The NBS’s “Selected Food Prices Watch” report for June 2024,…