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Business

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Capital Market

Stanbic IBTC Capital Clinches 4 Top Honours at AIHN Investment Banking Awards 2025

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FG Reassures Investors, Pledges Balanced Capital Gains Tax Outcomes as NGX Lists MREIF

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Nigerian Stocks Present Buying Opportunities as Market Sheds N2.8trn

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NGX Reaffirms Leadership in Advancing Africa’s Islamic Finance Ecosystem

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Insurance

SanlamAllianz Nigeria Wins .NG Insurance Website of the Year 2025

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Leadway Assurance, AGRA, NADF, Verdure Climate Advance Agric Insurance Solutions

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AIICO Launches All-in-One Financial Protection for Nigeria’s Underserved Population

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Sovereign Trust Insurance Secures Board’s Approval to Raise N5bn Capital

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Business

Wines of Canada Debuts in the Nigerian Market

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ICT

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Capital Market

Stanbic IBTC Capital Clinches 4 Top Honours at AIHN Investment Banking Awards 2025

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Insurance

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500m Africans Subscribe to Mobile Services

More than half a billion people across Africa are now subscribed to mobile services as the continent continues to migrate rapidly to mobile Broadband networks, reveals a new GSMA study.
“More than half a billion people across Africa are now subscribed to a mobile network, providing them not just with connectivity but a gateway to a range of other essential services in areas such as digital identity, healthcare and financial services,” said Mats Granryd, Director General, GSMA.
“The rapid move to mobile broadband networks is also unlocking new opportunities for consumers, businesses and governments, growing an ecosystem that last year added more than $150 billion in value to Africa’s economy.”

Network Investments and Smartphones Driving Mobile Broadband Adoption
The report finds that there were 557 million unique mobile subscribers across Africa at the end of 2015, equivalent to 46 per cent of the continent’s population, making Africa the second-largest – but least penetrated – mobile market in the world.
Africa’s three largest markets – Egypt, Nigeria and South Africa – together accounted for around a third of the total subscriber base. The number of unique mobile subscribers is forecast to reach 725 million by 2020, accounting for 54 per cent of the expected population by this point.
African mobile subscribers are rapidly migrating to mobile Broadband networks and services, a result of ongoing network rollouts and the increasing availability of affordable mobile Broadband devices and tariffs.
Mobile Broadband (3G/4G) accounted for just over a quarter of total connections2 at the end of 2015, but is expected to account for almost two-thirds by 2020. By mid-2016, there were 72 live 4G networks in 32 countries across Africa, half of which have launched in the last two years.
Meanwhile, the number of smartphone connections3 in Africa is forecast to more than triple over the next five years, rising from 226 million in 2015 to 720 million by 2020.

Mobile’s Contribution to African GDP, Jobs and Public Funding to Increase
The use of mobile technologies and services across Africa generated $153 billion in economic value last year, equivalent to 6.7 per cent of the region’s GDP4.
This contribution is expected to increase to $214 billion by 2020 (7.6 per cent of expected GDP) as countries in Africa continue to benefit from the improvements in productivity and efficiency brought about by increased take-up of mobile services.
Africa’s mobile ecosystem also supported 3.8 million jobs in 2015 and made a $17 billion contribution to the public sector via general taxation. The number of jobs supported is forecast to rise to 4.5 million by 2020, while the tax contribution is expected to increase to $20.5 billion.
The report also explains how mobile is powering innovation and entrepreneurship across Africa. It notes that there are now approximately 310 active tech hubs across the region, including 180 accelerators or incubators. Mobile operators are supporting this ecosystem by opening up APIs to third-party developers in areas such as messaging, billing, location and mobile money, which has allowed start-ups to scale quickly.
Mobile technology is also playing a central role in addressing many of the social challenges in Africa, including the ability to provide citizens with official identities, tackling the ‘digital divide’ by enabling access to the mobile Internet, and delivering financial inclusion via mobile money services.
The number of mobile subscribers in Africa that access the mobile Internet has tripled in the last five years, reaching 300 million by 2015, equivalent to a quarter of the African population. An additional 250 million subscribers are expected to become mobile internet users by 2020, bringing the total to 550 million (41 per cent of expected population).
“The positive transformational impact of mobile is being felt more profoundly in Africa than anywhere else in the world; Africa’s mobile industry is at the forefront of helping to deliver the United Nations’ Sustainable Development Goals5,” added Granryd.
“We are focused on creating a better future for citizens and businesses across Africa, providing access to essential information and services, improved employment and economic opportunities, and greater productivity and competitiveness.”

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Topics

Union Bank Responds to Court Ruling on NICON, Global Fleet, Jimoh Ibrahim Case

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Will Driverless Cars Impact Life Insurance & Annuities?

When Delphi Automotive’s “Driverless Car” took its much publicised cross-country test run this spring, the nine-day journey drew cheers from champions of “Autonomous Technology.” Meanwhile, other onlookers started wondering how this disruptive technology might impact, of all things, insurance. It’s not just auto insurance that they’re wondering about. It’s also the life, health and annuity sector. What are the implications there? The question brings up some interesting possibilities.

BUHARINOMICS: Charting Path to Sustainable Economic Renaissance

The presidential election was over on Saturday, March 28, 2015. It is now a historical document for academic research and street political analysis. On March 28, CHANGE triumphed over TRANSFORMATION AGENDA, leading to the emergence of General Muhammadu Buhari as President-Elect, Federal Republic of Nigeria. On May 29, Buhari will assume the leadership of the nation, bringing to an end, the regime of Goodluck Jonathan. For Buhari, it is a long road to Aso Rock. Three times he contested and lost. And three times he dusted the stinking ashes of defeat to rise again to seek for the same office. And on the fourth effort, he won. Either fortune smiled on him or the Gods took pity on him and handed him the office to break the cycle of defeat and save him from the poisoned pen of harsh historians and political propagandists.

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Why Women are Driving Rethinking of the Sales Model (2)

When you recognise that women are not just the majority but actually the vast majority of consumers, and that their power is only going to increase, it completely changes the commercial urgency of getting to grips with women buyers.’ In a day and age when everyone can buy almost anything from anywhere, the “feelgood” factor at every customer touchpoint has never been more important. Youth is Not What it Appears to Be While many marketers still seem obsessed with talking to Gen X and Y consumers, and still think of them as the longest term market worth tapping, the most powerful women financially are often past their youth.

2020: Nigeria’s Flaring Reduction Target

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Insurance Industry Reports N302bn Premium Income in 2014

The insurance industry in Nigeria has reported gross premium income of N302 billion in the financial year ended December 31, 2014, according to figures released by the National Insurance Commission (NAICOM). The industry also achieved premium income of N97 billion in the first quarter ended March 31, 2015. According to NAICOM, the industry’s total assets in 2014 was N711.4 billion, rising to N793.6 billion in the first quarter.
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