There have been series of reports and allegations that Alpha Beta was secretly owned by a former Governor of Lagos State, Asiwaju Bola Ahmed Tinubu, he has neither commented on the allegations officially.
GLOBAL
Nigeria’s Sterling Bank raises $65 million from BADEA
Nigeria’s Sterling Bank Plc, said Arab Bank for Economic Development in Africa (BADEA) has extended $65 million credit facilities to Sterling Bank Plc. The tier two Nigerian lender said in a statement that the facilities were granted through two loan agreements signed on Monday, 18th February, 2019 in Cairo, Egypt. […]
Heineken Nigeria sees profit tank by 41% in 2018
Heineken N.V’s local unit in Nigeria, Nigerian Breweries said its net profit for the full year 2018 fell by 41.18%. The result showed further deterioration of the company’s fortune. Gross revenue for the period fell by N20 billion on a year on year basis. The company reported that its excise […]
First Group posts 14% rise in revenue
UK and Europe largest bus transport company, FirstGroup plc said its revenue for the year-end September 2018 rose to 13.7%. FirstGroup plc said in a statement that revenue growth +13.7% year to date. Group revenue in constant currency and excluding the SWR rail franchise +5.5% YTD. The company said its […]
TECH
Kinnevik increases equity stakes in MatHem
Kinnevik AB has announced that it has committed to invest SEK 0.9bn in MatHem. MatHem is Sweden’s leading independent pure-play online grocery retailer, in a combination of 0.4bn in primary capital and 0.5bn in secondary shares taking Kinnevik’s ownership to 38%. The Nordic countries have long been held to be […]
Autonomous truck startup, TuSimple raises $95 million
American self-driving truck startup TuSimple, has raised $95 millio in fresh funding. TuSimple said in a statement cited by Reuters News that the funding round was led by Chinese internet giant Sina Corp, which values the three-year-old firm at $1 billion. The fresh funds, investors of which also include Hong […]
BRIEF: Digital savings app, Piggybank rebrands to PiggyVest
Digital savings and investment app, Piggybank said it has rebranded to PiggyVest. The company said it changed the name to reflect its new direction to offer more products including insurance services. It would be recalled that PiggyVest raised $1.1 million last year to acquire new license and growth into new […]
STARTUPS
BRIEF: Digital savings app, Piggybank rebrands to PiggyVest
Digital savings and investment app, Piggybank said it has rebranded to PiggyVest. The company said it changed the name to reflect its new direction to offer more products including insurance services. It would be recalled that PiggyVest raised $1.1 million last year to acquire new license and growth into new […]
Meet Lara, The Chat Bot For Getting Around Town
Have you ever gotten lost in a new city or even worse in the city you live while trying to locate a new place? What survival mechanics did you use; ask a stranger, call a friend or ask Google? Pretty certain, whichever tactic you used, the experience wasn’t fun. Next […]
Airtame has now shipped 100,000 devices
Airtame, a Danish startup that produces a wireless HDMI solution for both business and education sectors, announced that they hit a big milestone: 100,000 devices shipped. Airtame recently released Homescreen Apps, simple app integrations for smarter team collaboration and everyday inspiration. This product update signals a step into the world […]
No lessons learnt? Konga goes back to pay on delivery
Nigeria’s Konga, an eCommerce company that was acquired by Zinox said it is restarting its pay on the delivery policy. By its literal meaning, customers can order goods on the website and pay when the products are delivered. Konga made it known recently while adding that it will also activate […]
Other News
PonkiHosting brings affordable hosting for startups
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#NigeriaDecides- Live Updates
Untold story of Marek Zmyslowski’s alleged theft, money laundering at HotelOga
It seems there is now a balance to the diatribe launched by Marek Zmyslowski, against his shareholders/investors at HotelOga. Last week, Marek Zmyslowski, a former executive at Jumia’s hotel booking site came out to drag Nigerians, Nigerian and his estranged investors in HotelOga. In his medium article, Marek Zmyslowski described […]
Qlik acquires Attunity for $560 million
Data integration and big data management software solutions provider, Qlik signed a definitive agreement under which Qlik will acquire Attunity. Under the terms of the agreement, Qlik will acquire all outstanding ordinary shares of Attunity for a total value of approximately $560 million. Attunity shareholders will receive $23.50 in cash […]
Standard Chartered sets aside $900 million to pay fines
London-based Standard Chartered PLC or StanChart said it has set aside $900 million to cover fines resulting from regulatory investigations in the United States and Britain. Stanchart is setting aside the sums to prepare for the likely fines it might pay for series of probes it is facing in both […]
Millicom acquires more towers in Americas
Millicom International Cellular S.A. said it has entered into agreements with Telefónica S.A. and certain of its affiliates, to acquire the entire share capital of Telefónica Móviles Panamá, S.A., Telefónica de Costa Rica TC, S.A. and Telefonía Celular de Nicaragua, S.A. Millicom said it is paying for a combined enterprise […]
Nigeria’s Sterling Bank raises $65 million from BADEA
Nigeria’s Sterling Bank Plc, said Arab Bank for Economic Development in Africa (BADEA) has extended $65 million credit facilities to Sterling Bank Plc. The tier two Nigerian lender said in a statement that the facilities were granted through two loan agreements signed on Monday, 18th February, 2019 in Cairo, Egypt. […]
Heineken Nigeria sees profit tank by 41% in 2018
Heineken N.V’s local unit in Nigeria, Nigerian Breweries said its net profit for the full year 2018 fell by 41.18%. The result showed further deterioration of the company’s fortune. Gross revenue for the period fell by N20 billion on a year on year basis. The company reported that its excise […]
First Group posts 14% rise in revenue
UK and Europe largest bus transport company, FirstGroup plc said its revenue for the year-end September 2018 rose to 13.7%. FirstGroup plc said in a statement that revenue growth +13.7% year to date. Group revenue in constant currency and excluding the SWR rail franchise +5.5% YTD. The company said its […]
Coca‑Cola HBC acquires Bambi
Coca‑Cola HBC AG said is hhas acquired Bambi. Bambi is Serbia’s leading confectionery. The group said it acquired Bambi from funds advised by Mid Europa Partners, a leading buyout investor in Central and Eastern Europe, for an enterprise value of €260 million, subject to certain closing adjustments. Completion of the […]
Nigeria’s inflation drops to 11.37%
Latest data from the official data office of Nigeria said consumer price index or inflation in Africa’s largest economy dropped to 11.37% in the month of January. The Abuja-based National Bureau of Statistics said in its summary note that the further drop in January is 0.07 percent points lower than […]