Business A.M
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Latest posts
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Visa restrictions discourage 52% of travellers from visiting Africa – IATA
Africa’s aviation and tourism industries face a growing demand-side challenge as immigration requirements discourage more than half of surveyed passengers in the region from visiting destinations, raising concerns about the commercial cost of complicated visa procedures and…
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Wema Bank profit jumps 73% to N220bn, but credit risks mount
Wema Bank Plc’s profit after tax climbed 72.6 percent to N219.84 billion in the nine months ended September 30, 2026, exceeding its entire 2025 earnings by 13.1 percent, as aggressive lending, stronger trading income and improved operating efficiency offset declining asset…
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OPay pulls $304m NYSE IPO over regulatory inquiry in undisclosed foreign jurisdiction
OPay, the SoftBank-backed digital financial services company, has withdrawn its planned $304 million initial public offering (IPO) on the New York Stock Exchange (NYSE) following a regulatory inquiry in an undisclosed foreign jurisdiction, abruptly halting what would have been…
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Xenophobia: South Africa detains Business A.M. columnist, a professional psychologist
The growing tension surrounding the treatment of foreign nationals in South Africa has taken another troubling turn following the arrest and detention of Joshua Awesome, a professional psychologist and Nigerian columnist with Business A.M., in a development that has renewed…
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Swoop offers marketing investment, performance incentives to boost food merchant growth
Swoop, a fast-growing food delivery platform, has launched a merchant growth programme aimed at helping independent food businesses in Lagos expand their customer base, improve sales and build more sustainable operations, as competition and rising operating costs continue to…
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Dangote’s 54.63 ml/d fuel exports surpass Nigeria’s domestic consumption
• Refinery now valued at N82.6trn • Disconnect rages over high output and local pump prices Dangote Petroleum Refinery’s exports of petrol, diesel and aviation fuel rose to record 54.63 million litres per day in September 2026, according to data from the Nigerian Midstream and…
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Dangote refinery begins fuel supply to Cameroon after initial visit to revive 45-yr refinery
Dangote Petroleum Refinery and Petrochemicals (DPRP) begins fuel supply to Cameroon, Nigeria’s eastern neighbour, whose 45-year refinery, Société Nationale de Raffinage (SONARA) has been off-stream since May 2029, after a devastating fire outbreak. The move, which would augment…
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DMO rejects investors’ N1.84trn bids in fresh push to lower borrowing costs
Nigeria’s Treasury Bills market is witnessing a renewed decline in primary-market yields, with the one-year stop rate falling to 15.80 per cent at Wednesday’s auction, even as investor subscriptions significantly exceeded the amount offered by the Debt Management Office (DMO).…
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Akuna, Google launch free AI filmmaking programme for Nigerian creators
Nigerian filmmakers, screenwriters, animators and digital content creators can apply for a free artificial intelligence (AI) filmmaking programme launched by Akuna Learning, an initiative of Idris Elba’s Akuna Group, in collaboration with Google. The programme, known as From…
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Seplat Energy records $749m cashflow, with $19-cent dividend payment in 9-month unaudited results
• Paid $1.0bn cumulative dividends since IPO • Set to return second $1.0bn to shareholders on 5-year plan Seplat Energy, a leading Nigerian independent energy company listed on both the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), witnessed strong…
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Benue lawmaker, Agbese defends Tinubu’s proposed $21.7bn borrowing
Philip Agbese, Labour Party leader in Benue State and member representing Ado/Okpokwu/Ogbadibo Federal Constituency, has defended the federal government’s proposed $21.7 billion supplementary external borrowing plan, arguing that investments in critical infrastructure and…
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UK, Nigeria target private capital for three hydropower projects
The United Kingdom and Nigerian government partners are intensifying efforts to attract private investment into small hydropower projects, targeting three pilot schemes in Oyo, Kano and Plateau states to expand electricity supply, stimulate rural industrialisation and unlock…
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Northern Nigeria’s solar future hinges on bankable projects, expert warns
Northern Nigeria’s biggest obstacle to a solar-powered future may not be a shortage of sunshine, but the difficulty of turning its abundant solar resources into projects that investors can finance and electricity consumers can afford. That is the central message from Masah Ikus,…
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Zoho deploys agentic AI to transform business intelligence
Zoho has upgraded its business intelligence platform, Zoho Analytics, with agentic artificial intelligence capabilities designed to help businesses move beyond conventional data reporting towards context-aware analysis, automated workflows and more informed decision-making. The…
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Mastercard, Interswitch bring Google Pay to Nigeria
Nigerian consumers with eligible Mastercard cards can now make contactless payments using Android smartphones following the launch of Google Pay in the country through a collaboration between Mastercard and Interswitch. The launch allows eligible cardholders to add supported…
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Google, UK Hub, ONDI support Magna drive connecting 26 startups to investors
Venture investors and Nigerian startup founders are testing a more targeted approach to investment sourcing, with Magna Collective arranging 61 one-to-one meetings between 16 investors and 26 startups at an event in Lagos recently. The Investor Connection Drive was designed to…
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Cassava Technologies secures rights to resell Anthropic’s Claude AI in Africa
Cassava Technologies has become an authorised reseller of Anthropic’s Claude artificial intelligence models through Amazon Bedrock, giving businesses across Africa another route to access advanced AI tools for their operations. The agreement will enable the African technology…