Good morning, here are the latest top business news headlines for today Wednesday, May 2021.
High Inflation Level Dampens Purchasing Power – LCCI
Nigeria’s moderated headline inflation rate stood at 18.12 percent, according to the Nigeria Bureau of Statistics (NBS), a situation that would negatively impact the purchasing power of consumers, as described by the Lagos Chamber of Commerce and Industry (LCCI).
In an interview with the News Agency of Nigeria (NAN), LCCI’s Director-General…Read more
Buhari Seeks Approval For Another N2.3tn External Loan
President Muhammadu Buhari has written to the Senate asking the legislature to approve another N2.3 trillion ($6.18bn) external loan.
The letter addressed to the Senate President, Ahmad Lawan, and…Read more
Crude Oil Price Hits $70
The price of Brent crude hit $70 per barrel on Tuesday on the back of an improved demand outlook.
The Brent crude recorded a 1.1 percent rise, making it the…Read more
Fintech Firm, Telda, Raises $5m Pre-Seed Round
Only a month old, Egyptian digital banking platform, Telda, announced a pre-seed funding round of $5 million that would enable it to digitise spending, sending, and saving money for Egyptians.
Although 49 percent of Egypt’s population connected to the internet, technological…Read more
AU, Ecobank Offers $2m Fund For Nigerian MSMEs, Others
The African Union Development Agency NEPAD (AUDA-NEPAD) and the Ecobank Group are offering Micro, Small and Medium Enterprises in Nigeria and other countries a total of $2 million as working capital.
The partners, in a joint statement on Monday said the ‘100,000 MSMEs’ Initiative…Read more
Lagos Reiterates Support For Small Businesses, Creates SMEs Hub
The Lagos State Government has reiterated its commitment to its support of small businesses by ensuring that they have an enabling environment to aid them through the pandemic.
This disclosure was made by the Commissioner for Commerce, Industry, and…Read more
AfDB’s Adesina Calls On African Govts To Finance ‘Large Scale Youth-Led Business’
The African Development Bank (AfDB) has called on governments and private sectors in Africa to grow, finance, and support large-scale youth-led businesses in the continent.
President of the AfDB, Dr. Akinwumi Adesina, said this at a virtual High-Level…Read more
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