The 2nd Nigeria ICT Festival 2016 Postponed

On January 1st, 2019, Damco’s Supply Chain Services and...

Governor Ahmed Usman Ododo of Kogi State has enjoined...

It was good news the other morning when news filtered out that the federal government has graciously given cash-strapped states a bailout of approximately N714 billion to settle outstanding salaries and other forms of wages to workers in their states. To the workers, it was probably the best news of the year 2015, given that some that had fallen into arrears for upwards of seven to nine months. To ordinary Nigerians not directly affected by the salary crisis in the affected states, the bailout represents a moment of relief from the plight of the workers. For the state governments, the bailout is only a temporary measure to relieve them of the scandalous inability to meet their obligations to workers in the states.

“I would say the biggest challenge companies face is the cost of finance. Funds are very expensive in Africa,” says Jonty Levin, a Partner at financial advisory and structuring specialist, Alkebulan. There are two main reasons why the cost of finance generally remains high across the continent, according to Levin. One is the perceived risk associated with investing in African companies, and another is the shallow financial markets, where limited supply is rationed through higher costs.

Lenovo has announced that it will start the local manufacturing of smartphones in Sriperambudur, Chennai. For the current financial year, Lenovo and Motorola will generate a capacity of six million units.

The Nigerian Content Development and Monitoring Board (NCDMB) and the...

The Broadband Commission for Sustainable Development yesterday issued a...

  A cross section of Unity Bank team and the...