BrandArena : December 2024

Monday, 30 December 2024

2024 in Review: Resilience and Innovation Drive Nigeria’s Banking Sector

The year 2024 marked a transformative period for Nigeria’s banking and finance sector, as the industry navigated challenges, embraced innovation, and drove financial inclusion amidst a shifting economic landscape. With regulatory reforms, the rise of fintech, and an increasing focus on sustainability, the sector demonstrated resilience and adaptability, cementing its role as a cornerstone of Nigeria’s economy.

President Bola Tinubu has applauded the Nigerian National Petroleum Company Ltd. (NNPCL) for reopening the Warri Refining and Petrochemical Company (WRPC), describing it as a significant milestone that reinforces hope in his administration's commitment to energy security.

Nigeria's economy is at a turning point as 2025 draws near, with growth prospects restrained by enduring obstacles. The largest economy in Africa, Nigeria continues to leverage its vast natural resources, youthful population, and strategic position in regional trade. However, negotiating local issues, structural flaws, and international economic uncertainty will determine the country's economic course in the upcoming year.

In an inspiring act of community service, Dr. Chinonso Egemba, widely known as Aproko Doctor, has made a transformative impact on healthcare delivery by donating an 11KW solar power system, powered by the Luminous Rayverter, to the Mother-Child Center at Epe General Hospital. The advanced solution ensures uninterrupted electricity, eliminating power outages, and enhancing critical healthcare services.

New African Magazine Unveils the 100 Most Influential Africans of 2024

...Celebrating trailblazers shaping the continent's future amidst evolving challenges and opportunities

The London-based New African magazine has released its much-anticipated annual list of the 100 Most Influential Africans of 2024, spotlighting individuals across various fields whose work has made a profound impact on Africa and beyond over the past year.

Osamu Suzuki, the longtime leader who transformed Suzuki Motor into a global automotive powerhouse, passed away on December 25, 2024, at the age of 94 after battling cancer, the company announced.

The Nigerian government has announced a two-year partnership with global media giant Bloomberg to rebrand the country’s international image and attract foreign investors.

Universal Music Group and Amazon Music Deepen Global Partnership to Drive Innovation and Artist-Centric Initiatives

Universal Music Group (UMG) and Amazon Music have announced an expanded global partnership to foster innovation, deliver exclusive content, and advance artist-centric principles, including enhanced fraud protection.

In a landmark year for the messaging platform, Telegram has announced it is now profitable, achieving over $1 billion in revenue in 2024. CEO Pavel Durov shared the news in an X post, highlighting the platform's financial success alongside its steadfast commitment to user privacy and independence.

MTN Nigeria Plc is set to raise up to N50 billion through Series 15 and 16 commercial paper issuance as part of its N250 billion commercial paper program. The funds will support short-term working capital needs and diversify the company’s financing options.

The global cryptocurrency market experienced a downturn as traders exited key exchange-traded funds (ETFs) linked to bitcoin and ether. Bitcoin dropped 1.1% in the past 24 hours to $96,013, while Ethereum (ETH) fell 1.1% to $3,336, according to CoinMarketCap data.

Alibaba, the Chinese e-commerce powerhouse, has officially launched operations in Morocco, marking its first step into the African market. This strategic move aims to empower Moroccan small and medium-sized enterprises (SMEs) to access international markets, particularly North America.

Honda and Nissan have unveiled plans to merge under a single holding company by 2026, marking a historic move to tackle the growing competition from Chinese EV manufacturers and global leaders like Tesla.

PalmPay, a leading Africa-focused fintech, and Jumia, Africa’s e-commerce giant, have joined forces in a strategic partnership to advance digital payment adoption in Nigeria. This collaboration integrates PalmPay’s mobile wallet as a payment option on Jumia’s platform, offering shoppers a seamless and reliable checkout experience.

Afreximbank Signs Landmark Deal for Hydropower Development in the DRC

The African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement to support the development of a 200 MW hydropower project along the Lufira River in the Democratic Republic of Congo (DRC). This marks a significant milestone in advancing renewable energy and green infrastructure in Central Africa.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer under the Islamic Development Bank (IsDB) Group, has announced the appointment of Dr. Khalid Khalafalla as its new Chief Executive Officer, effective 16 December 2024.

The Central Bank of Nigeria (CBN) has announced new regulations to enhance Nigeria’s cashless economy, setting daily and weekly cash-out limits for Point of Sale (POS) agents. Effective immediately, the policy introduces a ₦100,000 daily cash-out limit per customer, a ₦1,200,000 cumulative daily limit for POS agents, and a ₦500,000 weekly withdrawal cap for individuals across all banking channels.

The African Development Bank Group (AfDB) has approved a $150 million loan to Société Nationale Industrielle et Minière (SNIM), Mauritania's state-owned iron ore company, to enhance logistics and drive growth in the mining sector.

LG Electronics, a global leader in electronics and air solutions, unveiled its latest innovations in HVAC technology at the Annual LG HVAC Consultant Leaders’ Summit in Lagos. Highlighting the Variable Refrigerant Flow (VRF) System and the Multi V 5 air quality solution, the event underscored LG’s commitment to enhancing energy efficiency and air quality in commercial spaces such as hospitals, high-rise buildings, and airports.

European Super League Rebrands as Unify League, Seeks Official Recognition from UEFA, FIFA

The promoters of the European Super League have relaunched the competition under the new name "Unify League" and are seeking official recognition from the Union of European Football Associations (UEFA) and the Fédération Internationale de Football Association (FIFA).

The global market for drug-device combinations is poised for significant growth, with projections rising from $129.4 billion in 2024 to nearly $200 billion by the end of 2029, according to a new BCC Research study. This represents a robust compound annual growth rate (CAGR) of 9.1% over the forecast period.

The naira displayed mixed performance in foreign exchange markets, reflecting ongoing efforts to determine its true value. Data from the FMDQ platform revealed a 15% decline in US dollar inflows, impacting exchange rates across different trading windows.

Iwájú, the groundbreaking Disney animated series created in collaboration with Kugali, a Pan-African comic book entertainment company, has been nominated in three prestigious categories at the 3rd Annual Children’s & Family Emmy Awards. The National Academy of Television Arts and Sciences (NATAS) announced the nominations, marking a historic moment for Nigerian animation.

Nigeria and South Africa are at the forefront of Africa’s rapid adoption of cryptocurrency and Web3 technologies, according to the second annual Global Survey on Crypto and Web3 by Consensys and YouGov. The survey highlights the rising global engagement with digital assets, with Nigeria and South Africa emerging as key players in blockchain innovation and decentralization.

The African Development Bank Group (AfDB) has announced plans to construct a state-of-the-art headquarters in Abidjan, Côte d’Ivoire, following unanimous approval from its Boards of Directors.

The Public Relations Institute of Southern Africa (PRISA) has launched SMARTGEN, a groundbreaking initiative aimed at equipping the next generation of PR and communication professionals with the skills, innovation, and ethical foundation needed to thrive in a dynamic industry. Scheduled for rollout in 2025, SMARTGEN underscores PRISA’s commitment to fostering inclusivity, professional development, and long-term growth within the public relations sector.

Engr. Sheriff Daramola has been elected as the 15th President of the International Facility Management Association (IFMA) Nigeria Chapter. The announcement came during the association's Annual General Meeting on December 10, 2024.

The Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Mr. Ayodele Subair, has been awarded an honorary Doctorate in Business Administration (Honoris Causa) by Adekunle Ajasin University, Akungba-Akoko (AAUA). The award was conferred during the university’s 13th convocation ceremony and its 25th anniversary celebration on December 14, 2024.

African Development Bank Marks 60 Years of Transformative Development in Southern Africa

The African Development Bank (AfDB) has celebrated its 60th anniversary, highlighting six decades of driving social and economic progress across Africa. A regional celebration held in Johannesburg gathered leaders, stakeholders, and partners to reflect on the Bank’s legacy and discuss its vision for a more prosperous future.

Equities investors on the Nigerian Exchange (NGX) realised a significant gain of N374 billion as oil stocks, including Oando Energy and Aradel Holdings, powered market momentum.

President Bola Ahmed Tinubu has named Sylvester Nwakuche as the Acting Controller-General of the Nigerian Correctional Service (NCoS).

Google's NotebookLM app is taking its Audio Overviews feature to the next level with the introduction of interactive AI podcast hosts. This upgrade allows users to engage directly with virtual hosts to explore information from their uploaded documents in greater depth.

Tizeti, a Y Combinator-backed internet service provider operating in Nigeria, Togo, and Ivory Coast, has confirmed plans to list on the Nigerian Exchange (NGX). This long-anticipated move comes two years after the company first revealed its intention to go public.

At the 3rd BRICS+ Digital Competition Forum—featuring Brazil, Russia, India, China, South Africa, and partners like Egypt, Iran, the UAE, and Ethiopia—antitrust authorities took a firm stance against monopolistic practices in the digitalized food sector. The BRICS Competition Law and Policy Centre unveiled a groundbreaking approach to regulating food markets in the era of digital transformation, emphasizing the need for stricter oversight. Among the key targets: the blockchain-powered agribusiness platform Covantis.

In the world of business, brand recognition is key to building trust, credibility, and lasting loyalty with consumers. For companies, it ensures differentiation in competitive markets, while for customers, it guarantees quality and consistency. LG Electronics Nigeria embodies this synergy, consistently garnering accolades for its innovative and customer-focused approach.

How Saudi Arabia Emerged as 2034 World Cup Host Despite Human Rights Concerns

FIFA has officially confirmed Saudi Arabia as the host of the 2034 World Cup, a decision that has drawn global attention and scrutiny due to the kingdom’s human rights record. The announcement came during a virtual congress marked by technical glitches, where FIFA’s 211 members confirmed the decision not through a formal vote but via acclamation—a collective clapping on video screens.

Nigerian Breweries Plc has named Juliet Anammah as its new Board Chairman, effective January 1, 2025. The announcement, made via a regulatory filing on the Nigerian Exchange, marks a significant leadership transition for the company.

Access Holdings, through its subsidiary Access Bank Plc, has successfully acquired a 100% stake in Bidvest Bank, a leading second-tier South African financial institution. The deal, valued at approximately $159 million, was disclosed by Sunday Ekwochi, the company’s Secretary, in a filing with the Nigerian Exchange Limited (NGX) on Thursday.

Social media platform Facebook remains a powerhouse in global advertising, with ad revenue projected to exceed $100 billion in 2024. With a 2.2 billion-strong global advertising audience, Facebook continues to lead as the most populous and best-monetized social platform.

Radisson Hotel Group has announced the launch of the Radisson Collection Hotel, Waterfront Cape Town, introducing its luxury lifestyle brand to South Africa. Nestled along Cape Town's iconic Atlantic coastline, the hotel emerges as a masterpiece of modern elegance, local heritage, and serene coastal charm after a meticulous transformation.

Emirates SkyCargo, the freight division of the world’s largest international airline, has reached a new milestone in its digital transformation journey with the launch of eQuote. This innovative solution empowers customers with real-time data and a seamless booking experience, marking a significant step in the airline's commitment to enhancing customer service, streamlining operations, and driving efficiency through digitization.

Equities Market Gains N60bn as Oil and Telecom Stocks Rally

Equities investors recorded a significant gain of over ₦60 billion on Tuesday as oil and telecom stocks staged a strong rally, reversing the week’s earlier losses. The Nigerian Exchange (NGX) closed on a positive note, with key performance indicators advancing by 0.10% and the year-to-date return climbing above 31%.

The 11th annual Africa Early Stage Investor Summit (AESIS2024) took center stage with an inspiring showcase of eight trailblazing female founders. These dynamic entrepreneurs, selected from the VC4A Venture Showcase - She Wins Africa edition, pitched transformative solutions addressing critical challenges in agriculture, fintech, e-commerce, and health to an audience of over 300 investors, ecosystem leaders, and delegates during the highly anticipated Deal Morning.

Muvmnt Studio hosted an exclusive cocktail event to launch “BB Uncovered: An 80-Year Odyssey”, a star-studded podcast series celebrating the life and legacy of Dr. Biodun Shobanjo, a pioneering figure in African marketing and business leadership.

President Bola Tinubu has named Mr. Shamseldeen Ogunjimi as the Acting Accountant General of the Federation (AGF), effective immediately. The appointment follows the pre-retirement leave of the outgoing AGF, Dr. (Mrs.) Oluwatoyin Madein.

Trump Appoints David Sacks as Crypto and AI "Czar"

Incoming President of the United States, Donald Trump has named former PayPal COO David Sacks as the new "czar" for cryptocurrency and artificial intelligence (AI). The announcement was made via Trump’s Truth Social platform on Thursday. "David Sacks will work on a legal framework to provide the crypto industry with the clarity it needs to thrive in the U.S.," Trump wrote.

Bitcoin has surged back above the $100K mark, driving the cryptocurrency market cap to nearly $3.7 trillion. After dipping to $98,000 on Friday, Bitcoin experienced a strong rebound, following news of U.S. president-elect Donald Trump’s appointment of David Sacks as his artificial intelligence and crypto czar—a move that highlights the administration’s focus on advancing these rapidly evolving industries.

GitLab, a leading platform for developers and security, has announced the appointment of Bill Staples as its new Chief Executive Officer, effective immediately. This leadership change marks an important step in the company's growth as it continues to innovate in the tech industry.

In the face of ongoing debates surrounding Nigeria’s tax reform bills, the Minister of Information and National Orientation, Mohammed Idris, emphasised that President Bola Tinubu’s push for tax system overhauls is designed to strengthen, not undermine, democracy.

TikTok has lost its legal challenge to a United States law that could lead to the platform’s ban in the United States. On Friday, a U.S. appeals court upheld the law, rejecting TikTok’s claim that it violated the First and Fifth Amendments. The court’s ruling means TikTok could face a ban unless its Chinese parent company, ByteDance, agrees to sell the platform to a non-Chinese entity by January 19, 2025. Failure to meet this deadline could result in significant fines for U.S. app stores and internet services hosting the app. The law does allow President Biden to extend the deadline once.

Monday, 30 December 2024

Friday, 27 December 2024

Monday, 23 December 2024

Wednesday, 18 December 2024

Tuesday, 17 December 2024

Saturday, 14 December 2024

Thursday, 12 December 2024

Tuesday, 10 December 2024

Sunday, 8 December 2024