CBN injects $210 million in interbank forex market, issues licences to three new banks

Posted by - July 26, 2019

The Nigerian Inter-bank foreign exchange market received another boost of 210 million dollars from the Central Bank of Nigeria (CBN) after transactions. Isaac Okorafor, the CBN Director, Corporate Communications Department, said this in a statement in Abuja. Mr Okorafor said that the authorised dealers in the wholesale sector of the market received 100 million dollars,

Spectranet Introduces New Data Plans to the market

Posted by - July 18, 2019

Spectranet 4G LTE has introduced new data plans called the Spectra-cular data plans, designed to drive affordable internet connectivity and make internet accessible to all subscribers. According to the firm, the new innovation is structured to suit the needs of all types of data users such as casual users, moderate users and heavy users, the

Bedrock Insurance to Focus on Customer-Centred Innovations for Market Leadership

Posted by - June 11, 2019

Privately owned indigenous company, Bedrock Insurance Company Ltd, that was only recently launched, will focus on leveraging technology in product and service offerings, and on prompt claims payment to break through the fierce competition within the sector. The company is committed to offering the most user-friendly insurance for all clients; making insurance effortless with same-day

ZYFRA Group tests AI solution to boost oil well production, eyes Egyptian market

Posted by - April 16, 2019

ZYFRA Group, Finnish-Russian AI and IIoT solutions developer for industries has successfully tested an Electrical Submersible Pump (ESP) software unit, designed to enhance the efficiency of oil extraction by boosting oil well production rates by 1.5% without any additional capital investment. The ESP software unit is now operational for more than three months in 500

CBN Boosts Forex Market with $210m

Posted by - April 10, 2019

The Central Bank of Nigeria (CBN) has again injected the sum of $210 million into the inter-bank Foreign Exchange Market in continuation of its sustenance of liquidity in that segment of the market. Figures obtained from the CBN recently, indicated that authorized dealers in the wholesale segment of the market were offered the sum of

Blackberry Targets 10% Share of Nigeria’s Market

Posted by - December 3, 2018

Smartphone brand, Blackberry has declared its intention to target 10% of share of Nigeria’s market, on its return after five years break. In a bid to achieve the target, which it hoped to realise within the next 12 months, Blackberry launched its latest Android version of the brand, named, Blackberry KEY2 LE. While speaking at

Samsung crowns August smartphone market share

Posted by - September 6, 2018

Despite the fall of Samsung smartphones by 1% in Egypt, Samsung still held the market’s largest share in August. According to a Statecounter report, the market share of the Korean giant of smartphone sales in Egypt declined from 37.5% in July to 36.2% in August, which is the company’s lowest share in two years. However,

Venture Capital Firm Opens in Rwandan Market

Posted by - July 31, 2018

A venture capital firm has entered the Rwandan market seeking investable enterprises to inject capital into and has come from well-off investors, investment banks and any other financial institutions for a stake in the in the start-up firms. Venture capital is financing that investors provide to startup companies and small businesses that are believed to

Airbus Forecasts $4.6tn Global Market for Commercial Aircraft

Posted by - July 20, 2018

Airbus’ new Global Services Forecast has predicted $4.6 trillion worldwide market for commercial aircraft services from 2018 to 2037. Major aircraft manufacturing company said the new analysis was based on a three-way market segmentation, respectively focusing on the aircraft, the airline operation, and the passenger experience. According to Airbus, aircraft-focused lifecycle services represent the largest