BrandArena : September 2024

Wednesday, 25 September 2024

National Bank of Malawi Secures Historic $100 Million Financing from Afreximbank to Boost Trade

In a major development for Malawi's trade sector, the National Bank of Malawi (NBM) Plc has secured a landmark $100 million Trade Finance Facilitation Facility (AFTRAF) from the African Export-Import Bank (Afreximbank). The deal, the largest of its kind for Malawi, is set to significantly enhance NBM Plc’s capacity to finance trade in key sectors such as manufacturing, energy, and agriculture.

ByteDance to Discontinue TikTok Music by November 2024

ByteDance has announced its decision to shut down TikTok Music, the global music streaming service, by November 28, 2024. The move comes after facing strategic challenges, including difficulties securing key music catalogs and a shift in the company’s focus.

The Friedkin Group, led by US billionaire Dan Friedkin, is on the verge of acquiring a majority stake in Everton FC after reaching an agreement with current majority owner Farhad Moshiri. Friedkin’s group will take control of the Merseyside club, pending approval from the Football Association, Premier League, and Financial Conduct Authority. Friedkin also owns Italian club AS Roma.

Qatar Airways has signed a landmark deal as the official airline partner of the UEFA Champions League, in an agreement that runs through 2030. This new partnership underscores the airline’s dedication to connecting people through the power of sport, building on its previous sponsorships of UEFA EURO 2020 and UEFA EURO 2024.

Meta has revealed the recipients of its inaugural Llama Impact Grants and Innovation Awards for 2023. Launched in October, the program aims to fund and support transformative applications of Llama 2 and Llama 3 AI models that tackle critical social challenges. With over 800 entries from organizations across 90 countries, the initiative showcases innovative solutions in education, environmental sustainability, and technological advancement.

LG Electronics has unveiled its latest lineup of energy-efficient home appliances designed to meet the growing demand for sustainability while addressing Africa's unique energy challenges. The new products were rolled out at the world's largest consumer electronics and home appliances trade show, Internationale Funkausstellung Berlin (IFA) 2024.

The African Development Bank (AfDB) has called on Development Finance Institutions (DFIs) and other development partners to enhance innovative partnerships and initiatives aimed at fostering peace and security across Africa, where eleven countries are among the most conflict-affected globally.

Vantage Capital Closes €14 Million Investment in Moroccan Agricultural Leader SPMS

Vantage Capital, Africa's largest mezzanine fund manager, has finalized a €14 million mezzanine investment in Société de Production Maraîchère Samir S.A. (SPMS), a prominent agricultural company in Morocco. The funds will support SPMS's ambitious expansion plans, which include tripling its cultivated area to over 300 hectares.

The Infrastructure Concession Regulatory Commission (ICRC) has confirmed that construction of the $3.5 billion Bakassi Deep Seaport will soon commence. Dr. Jobson Ewalefoh, the ICRC's Director-General made this known at a recent high-level stakeholders' meeting.

As part of its commitment to empowering young innovators across Africa, HabariPay's Squad launched the inaugural Squad Hackademy Programme on September 13th. This hybrid internship is the second phase of the Take on Squad Hackathon 1.0, which took place on January 19-20, 2024, at the GTCO Training Complex in Abeokuta, Ogun State.

The GRAMMY Museum has appointed Arin Canbolat as Vice President of Education, effective immediately. In his new role, Canbolat will lead efforts to enhance and expand the museum’s educational initiatives, with a focus on music and music industry education for K-12 students across the United States.

Veritas Kapital Declares 1,101% Surge in Net Profit, Hits N2.33 Billion in 2023

Veritas Kapital Assurance PLC, one of Nigeria’s leading insurance firms, has announced an impressive 1,101% increase in net profit, reaching N2.33 billion for the 2023 fiscal year, up from N193.93 million in 2022.

COKE STUDIO 2024 has just expanded its star-studded lineup, announcing global music icons Usher and Tyla as the latest artists to join Coca-Cola’s premier global music platform. These additions mark another milestone for COKE STUDIO, alongside a dynamic roster that includes Karol G, NewJeans, and Peggy Gou, delivering exclusive and immersive musical experiences to fans across the globe.

The Basketball Africa League (BAL) is set to kick off the second edition of its “BAL Future Pros” program, aimed at empowering early-career professionals across Africa with hands-on experience in the sports industry. Launched last year, the initiative helps participants develop their skills, expand their networks, and gain valuable experience by working within various BAL departments.

Africa Creatives Alliance Unveiled to Drive Socio-Economic Growth

In alignment with the African Union's Agenda 2063, "The Africa We Want," the Africa Creatives Alliance (ACA) is set to play a pivotal role in transforming Africa into a global powerhouse by tapping into the continent's vast cultural and creative potential. This innovative alliance will empower creative entrepreneurs to contribute meaningfully to Africa’s development and integration goals.

WARC Advisory, in collaboration with the creative, technology, and media group MSQ, has unveiled a groundbreaking whitepaper titled Harnessing the Power of Rituals: Where Marketing Meets Meaning. This research explores the pivotal role that rituals play in consumers' lives and how brands can leverage these rituals to establish deeper, more meaningful connections.

Instagram has introduced a new feature, "Teen Accounts," aimed at providing a safer and more positive social media experience for teenagers. These accounts offer a customized experience with parental guidance, incorporating protections to limit unwanted contacts and restrict access to inappropriate content. This initiative responds to parents' growing concerns over their teens' safety and well-being online.

GSMA’s MWC Kigali 2024 will make its highly anticipated return to the Kigali Convention Center from 29-31 October 2024, bringing together key innovators and political leaders from across Africa. As the continent's largest and most influential connectivity event, MWC Kigali aims to accelerate the digital economy and drive socio-economic development.

Addressing systemic barriers to young women’s participation in Africa’s workforce could inject an estimated $287 billion into the continent's economy by 2030, boosting GDP by 5%, according to a new report by the Mastercard Foundation. Conducted in partnership with McKinsey & Company, the study emphasizes the pivotal role of women's economic empowerment in driving Africa's transformational growth.

Nigeria’s Inflation Rate Drops to 32.15% in August 2024, NBS Reports

The National Bureau of Statistics (NBS) has reported a decline in Nigeria’s headline inflation rate to 32.15% for August 2024. This represents a decrease of 1.25 percentage points from the 33.40% recorded in July 2024.

PalmPay, a leading fintech platform with over 30 million users in Nigeria, has launched a new USSD service to provide an alternative way for customers to manage their finances without internet access.

The long-awaited independent hearing into Manchester City's alleged 115 breaches of Premier League financial regulations officially began on Monday. Dubbed by British media as the "sports trial of the century," the hearing is expected to last around two months, with a final verdict, including any appeals, anticipated by the end of the 2024-25 season.

Global upstream oil and gas investments are projected to hit $570 billion in 2024, marking a 7% rise compared to 2023. Of this, 33% will target frontier assets, creating strategic opportunities for Africa's emerging oil and gas markets. Meanwhile, the International Energy Agency estimates that providing modern energy access across Africa, where over 600 million people lack electricity, will require $25 billion annually through 2030.

The National Association of Telecommunications Subscribers (NATCOMS) has urged the Nigerian Communications Commission (NCC) to extend the deadline for the National Identification Number (NIN)-SIM linkage from September 14 to September 30, 2024.

Dangote Refinery Refutes NNPCL Claims on Fuel Pricing

...Calls Issued Statement Misleading

Dangote Refinery has firmly denied claims made by NNPCL spokesperson, Mr. Olufemi Soneye, regarding the sale of Premium Motor Spirit (PMS) at ₦898 per litre to the NNPCL. The refinery described the statement as both misleading and an attempt to undermine its recent milestone achievement on September 15, 2024, aimed at addressing Nigeria's long-standing energy challenges.

Sahara Group, a leading energy and infrastructure conglomerate, has joined forces with Air France-KLM to champion sustainable air travel through its latest investment in the airline’s Sustainable Aviation Fuel (SAF) program. This collaboration will result in the offset of 20 tons of CO2, contributing significantly to global efforts to combat climate change.

The Akada Children's Book Festival (ACBF), Nigeria's largest book festival dedicated to children, is set to host its sixth edition on Saturday, October 26, 2024, at UPBEAT Recreation Center in Lekki, Lagos. The annual event aims to spotlight local authors and promote children's engagement with literature, fostering a love for reading among young audiences.

Coca-Cola Africa Launches $25 Million Water Stewardship Initiative to Tackle Water Challenges Across 20 Countries

The Coca-Cola Company, alongside its African bottling partners Coca-Cola Beverages Africa (CCBA), Equatorial Coca-Cola Bottling Company (ECCBC), and Coca-Cola HBC, has announced a nearly $25 million investment to address urgent water-related challenges in 20 African countries from 2023 to 2030. The initiative, known as the "Africa Water Stewardship Initiative," will be led by Global Water Challenge (GWC) and implemented by partners including The Nature Conservancy (TNC), the International Union for Conservation of Nature (IUCN), and the World Wildlife Fund (WWF).

Aliko Dangote, President and CEO of Dangote Group, has called on African business leaders to take the lead in driving the continent’s transformation. Speaking at the African Renaissance Retreat in Kigali, Rwanda, Dangote highlighted Africa’s abundant resources and youthful population as key drivers for substantial, inclusive growth.

Canon has unveiled the RF 28-70mm F2.8 IS STM, a versatile zoom lens offering a constant aperture of f/2.8, designed for photographers seeking enhanced creativity and top-tier image quality without sacrificing portability. The lightweight lens is an ideal upgrade for photographers looking to expand their creative toolkit and elevate their storytelling abilities.

Talk360, the international calling app that provides reliable and affordable calls to any landline or mobile phone, has secured $1.4 million in a Pre-Series A funding round led by long-term investor Havaic. This new investment will propel the company’s mission to connect seven million users by 2025 while accelerating its path to long-term profitability.

Innoson Unveils Nigeria’s First Locally Manufactured Electric Vehicle

Innoson Vehicle Manufacturing Company (IVM), a leading Nigerian automaker, has made history by launching its first-ever electric vehicle (EV) produced at its Nnewi factory in Anambra State.

Moove, the Nigerian vehicle financing startup backed by Uber, is preparing to expand into the United States market as part of its global growth strategy. Since August, the company has been actively recruiting for key positions in Los Angeles and California, signalling its commitment to establishing a foothold in the U.S. This expansion aligns with Moove’s goal of achieving profitability by 2025.

NBA Africa Unveils Finalists for Triple-Double Startup Accelerator Demo Day in New York

...10 startups from seven African countries selected to pitch

NBA Africa has announced the selection of 10 startups from seven African countries to pitch their innovative solutions at the Triple-Double Startup Accelerator Demo Day, scheduled for Wednesday, Sept. 25, at NBA headquarters in New York City. This event, part of the "Triple-Double: NBA Africa Startup Accelerator" initiative launched in April 2024, aims to bolster Africa’s tech ecosystem and nurture the continent’s next generation of entrepreneurs.

Guaranty Trust Holding Company Plc (GTCO) has announced its audited financial results for the half-year ending June 30, 2024, becoming the first Nigerian financial institution to cross the ₦1 trillion profit mark.

Emirates held a workshop this week for key stakeholders in Nigeria’s travel industry, preparing for the airline’s highly anticipated relaunch of flights to Nigeria on 1 October. The workshop aimed to showcase Emirates' latest products and services, and provide a destination update on Dubai, reflecting the significance of Nigeria within its global network.

Africa Finance Corporation (AFC), the continent’s premier infrastructure solutions provider, has successfully led Nigeria’s inaugural domestic dollar bond issuance, raising over $900 million. This groundbreaking bond, issued by the Federal Government of Nigeria (FGN), marks a key milestone in the country's financial sector.

TECNO and UNHCR Renew Partnership to Boost Primary Education for Refugee Children in Kenya

TECNO, a leading technology brand, has renewed its partnership with the United Nations High Commissioner for Refugees (UNHCR) to continue supporting the global primary education programme for African refugee children.

Ada had always been cautious with her finances. She grew up watching her parents save diligently in traditional bank accounts, but the meagre returns barely kept up with inflation, and financial freedom seemed like a distant goal. Determined to do things differently, Ada set out to find a smarter way to grow her money.

Sony has officially introduced the PlayStation 5 Pro, the next leap in console gaming performance. Aimed at gamers seeking enhanced graphics and smoother gameplay, the PS5 Pro will be available starting November 7 for $699.99.

Apple has officially launched its latest smartphones, the iPhone 16 and iPhone 16 Plus, introducing a host of advanced features powered by Apple Intelligence, a new personal AI system that understands user context while maintaining privacy.

LG Electronics, renowned globally for its cutting-edge consumer electronics and home entertainment solutions, proudly maintains its leadership in OLED technology. As the world’s premier OLED TV for over 11 years, LG continues to set the benchmark in innovation with the latest LG OLED TV, featuring the groundbreaking Six Senses Experience.

In a bold move to address Nigeria’s mounting food security challenges, Origin Tech Group is leading the Greener Hope Agriculture Mechanization Productivity Programme (GHAPP). This groundbreaking initiative is designed to enhance food production and strengthen the country’s agricultural resilience. By deploying cutting-edge machinery, optimizing land usage, and making strategic investments in both production and processing, GHAPP is set to increase Nigeria’s food output by over 2 million metric tonnes.

Field, a leading African healthtech company, has unveiled a new service aimed at addressing the critical issue of maternal mortality in Africa. With $11 million in initial funding from the Bill & Melinda Gates Foundation, the service will fast-track the delivery of emerging therapies and health technologies to improve maternal, newborn, and child health, as well as nutrition.

The Presidential Fiscal Policy and Tax Reforms Committee has unveiled a proposal to implement a 0% VAT rate on intellectual property and service exports as part of a broader effort to boost Nigeria's export sector.

The English Premier League (EPL) football club, Chelsea's two major shareholders, Clearlake Capital and Todd Boehly, are reportedly exploring the possibility of buying each other out following internal disagreements.

Why Extreme E is Canceling the Rest of its 2024 Season Races

Extreme E has announced the cancellation of the remaining races in its 2024 season as the series prepares for its transition to the hydrogen-powered Extreme H. The canceled races include the planned events in Sardinia, Italy, and Phoenix, USA. However, the series is still exploring alternative venues to complete the season, though there is no guarantee this will happen.

Transcorp Power PLC saw a sharp decline in its share price, falling by 9.99% on the Nigerian Exchange (NGX) as investors engaged in significant sell-offs.

Rolls-Royce, through its Power Systems division, has announced a strategic partnership with East African conglomerate Karimjee Group to deliver advanced mtu power solutions in Tanzania. This collaboration aims to strengthen the country’s energy infrastructure, support sustainable development, and drive industrial growth.

Shodan Pharmaceuticals Ltd. has officially introduced SITFINE Toilet Sanitizer Spray to the Nigerian market. The innovative, quick-drying aerosol is designed to kill 99.99% of germs on toilet seats. Unveiled at a media briefing in Lagos, SITFINE aims to enhance personal hygiene in public and private restrooms.

Wednesday, 25 September 2024

Tuesday, 24 September 2024

Monday, 23 September 2024

Thursday, 19 September 2024

Tuesday, 17 September 2024

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Saturday, 14 September 2024

Thursday, 12 September 2024

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