High Opex drags on Lafarge Africa Q3 22 earnings despite low finance costs
Lafarge Africa (WAPCO) released its 9M 22 unaudited results after trading hours last week Friday (28 October). The company reported an EPS decline of 38.7% y/y in Q3 22, however 9M 22 EPS grew by 11.2% y/y. Earnings were pressured…
NCC to Fast-Track Deployment of Emerging Technologies—EVC
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has stated that NCC will not relent in the promotion of latest and emerging technologies to energize business and the sector in Nigeria for the benefit…
Nigeria and the 2022 global hunger index (GHI) report
According to the 2022 global hunger index (GHI) report, Nigeria ranked 103rd out of 121 countries, suggesting Nigeria’s weak and fragile food system. The GHI is a tool for measuring and tracking hunger at global, regional, and national levels. It…
(Special Report) CBN and the timing of new Naira Introduction
The Central Bank of Nigeria (CBN) recently announced its intention (having secured approval from the president) to redesign, produce, and circulate new series of the N200, N500 and N1000 banknotes. Based on this announcement, the apex bank’s new notes would…
MTN CTO Opens Up On Everything You Should Know About 5G
The Chief Technical Officer of MTN Nigeria, Mohammed Rufai, engaged media professionals in an in-depth discussion on the details of the recently launched 5G network and its long-term effects on achieving a society with better-integrated Internet of Things (IoT). Recall…
5G will drive African economy to full potential – Mupita, CEO of MTN Group.
In line with a 2021 report by GSMA on the Sub-Saharan African mobile economy, there will be 41 million 5G connections by 2025, which will account for 4% of total 5G connections in the world. The possibilities enabled by 5G…
NCC, Zoho, Digital Encode, Galaxy Backbone, others for AfriTECH 2.0
Telecoms industry experts will gather in Lagos, Nigeria, on 09 November 2022 for another edition of Africa Tech Alliance Forum (AfriTECH 2.0) sponsored by Zoho Corporation, Digital Encode, Galaxy Backbone Limited, ESET, Layer3Cloud; including partners drawn from the Nigerian Communications…
Chinese Contractors Delivers $1.5bn Lekki Deep Seaport on schedule
The Chinese Harbour Construction Company (CHEC), has completed the construction of the $1.5billion Lekki deep seaport on record time. The construction firm, however, handed over the port to its promoters, Lekki Port, in Lagos on Monday. Speaking at the event,…
Dangote Sugar posts N36.27 billion profit in nine months
Nigeria’s largest sugar refinery, Dangote Sugar Refinery Plc has announced a profit before tax (PBT) of N36.27 billion for the nine months ended September 30, 2022. According to the sugar refiner’s unaudited results posted on the Nigerian Exchange portal, PBT…
High OPEX, finance costs erode BUA Cement Q3 22 earnings
BUA Cement (BUACEMENT) released its 9M 22 unaudited results after trading hours last week Thursday (27 October). The company reported an EPS decline of 43.3% y/y in Q3 22, however 9M 22 EPS grew by 12.3% y/y. Elevated production and…
