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Business

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ICT

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Capital Market

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Stockbrokers, Securities Dealing Houses Congratulate NGX on N100tn Market Capitalisation

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FG, SEC, NGX Group Forge Unified Direction on Capital Gains Tax Reform

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NGX Expands Market Offerings with Introduction of Commercial Paper Listings

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Insurance

Heirs Insurance Hackathon Opens: Nine University Students to Win N9m Innovation Prize

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Royal Exchange CEO: Recapitalisation Will Reposition Insurance Sector, Support $1tn Economy Goal

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Business

Repton Group Wins 2025 Dangote Cement Largest Distributor Award

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MTN: The Best Mobile Internet Performance in Nigeria 2025

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ICT

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NCC Spotlights Renewable Energy on World Consumer Rights Day

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Capital Market

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Insurance

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MainOne’s West Africa Expansion Boosted by Cote d’Ivoire Licence

As part of its West Africa expansion, connectivity and data centre solutions operator MainOne has secured a license to expand national and international connectivity services in Cote d’Ivoire.

The C1B license, received from Minister Bruno Koné, the country’s Minister for Communication, Digital Economy and Postal Services, will enable MainOne land its trans-Atlantic submarine cable and build transmission infrastructure in Cote d’Ivoire, to strengthen connectivity, reduce international capacity costs and support wholesale customers, major operators and Internet Service Providers.
Cote d’Ivoire authorities believe that the construction of a fourth cable authorised by the government will improve the international connectivity of the country and will provide a lot more opportunities for the national market while increasing competition.

“We have just taken an important step through this authorisation for the improvement of the telecommunication infrastructure of our country, specifically the improvement of international connectivity. MainOne cable will have an impact on price and quality and will strengthen the security of our infrastructure”, declared Minister Bruno Koné.
The entry of MainOne, an open-access connectivity services provider will further democratize the international bandwidth market in Cote d’Ivoire and neighbouring countries and drive down bandwidth costs for local Internet Service Providers, Telcos and indigenous businesses.
“Cote d’Ivoire is the largest economy in the West African Economic and Monetary Union (WAEMU) and a very important hub for business and transport in West Africa. The dynamism of the national economy and accelerated development of the digital economy in Cote d’Ivoire as well as its regional leadership makes it a natural hub for the West African region and guided MainOne’s decision to invest in Cote d’Ivoire”, said Funke Opeke, Chief Executive Officer of MainOne.
As part of an overarching plan to invest close to $20m in Cote d’Ivoire with a focus on the provision of wholesale connectivity services, MainOne has obtained the license and will commence the construction of its digital transmission cable in June 2018, to be concluded in the second half of 2019.

Its cable landing will provide open-access infrastructure within Cote d’Ivoire and other WAEMU countries to expand internet access for all users in the region and support rapid development as well as facilitate increased non-resources trade and improve public services to aid the evolution of regional businesses.
“By investing and encouraging the business ecosystem within West Africa, we hope to bring meaningful technology solutions to businesses, to enable them in their quest for improved productivity and efficiency through dedicated and reliable connectivity services. We are prepared to collaborate with incumbent operators towards enhancing regional integration and global access,” Ms. Opeke concluded.
MainOne is committed to deepening broadband access via fibre infrastructure and data centres across West Africa.

With service delivery in 10 countries including Nigeria, Ghana, Cote d’Ivoire, Burkina Faso, Togo, Cameroun, Benin, Niger, Senegal and Chad, MainOne operates a 100G international submarine cable system which guarantees highly reliable connectivity to support the growing demand for Internet access and bandwidth-intensive applications such as eCommerce, Content providers, OTT players and electronic banking and payment services via 3/4G mobile networks.

The MainOne Submarine cable was the first privately owned cable in West Africa spanning 7000KM with a capacity of 4.96 TBPS to connect West Africa to Europe via a landing in Portugal and multiple routes to London, Paris and Amsterdam.

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Beyond the Change Chorus: Is Nigeria Open for Business Again?

Against the intense apprehension by local and international observers, Nigeria's 2015 Presidential Elections turned out peaceful and successful following the incumbent's concession of defeat prior to the final announcement by the electoral umpire - INEC. The election, which was keenly contested by All Progressives Congress (APC) - General Muhammadu Buhari (GMB) and Peoples Democratic Party (PDP) - Goodluck Ebele Jonathan (GEJ) saw the emergence of GMB as the President-elect of Nigeria. GMB satisfied the constitutional requirement of polling the majority votes of 15.4 million (vs. GEJ's 12.9 million total votes) while also winning at least 25.0% of the votes cast in 28 states (vs. GEJ's 27 states). In the past weeks, there have been two contending words -- Change vs. Transformation. With the former now triumphing over the latter, the Nigerian economy and financial market demand more..."Beyond the change chorus".

How Nigerian Politics Rivals Nollywood for Drama

In our series of letters from African journalists, novelist and writer, Adaobi Tricia Nwaubani looks at why Nigerians are hoping to be entertained by a crackdown on corruption. Two major industries in Nigeria share similar elements of melodrama and wildly implausible plots -films and politics.
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