Author: Staff Writer

In a bold move to challenge established ride-hailing giants in Canada, Estonia-based Bolt has launched its Hopp service in the Greater Toronto Area. This expansion marks a significant step in Bolt’s recent push into the North American market, as the company seeks to extend its global reach beyond its stronghold…

In a move aimed at empowering businesses and reducing operational costs, Guaranty Trust Bank (GTBank) has announced the removal of processing fees on all GTBank POS terminals. This initiative, which took effect on Tuesday, 11 February 2025, ensures that merchants using GTBank POS terminals will no longer incur Merchant Service…

Elon Musk’s social media platform, X (formerly Twitter), has agreed to a $10 million settlement in response to a lawsuit filed by former U.S. President Donald Trump, according to a report by The Wall Street Journal. The lawsuit, which stemmed from Trump’s suspension following the January 6, 2021, U.S. Capitol riot, marks another chapter in the ongoing battle…

In a surprising yet strategic expansion, Apple has officially launched the Apple TV app on Android mobile devices, including phones, tablets, and foldables. This marks a significant shift for Apple, a company traditionally known for keeping its services tightly integrated within its ecosystem. The move allows Android users to access…

According to Gartner, the overall semiconductor market rebound reshaped the rankings of the top semiconductor vendors, with Samsung Electronics reclaiming the No. 1 position from Intel, driven by a strong rebound in memory device prices. “Graphics processing units (GPUs) and AI processors used in data center applications (servers and accelerator cards) were the…

The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy supporting young entrepreneurs, has secured a $6 million strategic partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation (an affiliate of Erth Zayed). Announced at the World Government Summit, this collaboration will provide business training,…

As digital transactions become more essential in Nigeria, many individuals and businesses struggle with international payments due to restrictions on local bank cards. Most Nigerian banks have either stopped supporting foreign transactions or imposed strict limits, making it difficult to pay for essential services like Netflix, Amazon, and Facebook Ads.…

In a sharp and dismissive response, OpenAI CEO Sam Altman rejected Elon Musk’s $97.4 billion bid to acquire OpenAI’s controlling nonprofit, signaling a deepening rift between the two AI pioneers. Altman took to X (formerly Twitter) to reply with a tongue-in-cheek remark: “No thank you, but we will buy Twitter…

Nigeria has officially launched its first fully compliant stablecoin, cNGN, marking a significant advancement in the country’s digital finance landscape. Developed by the Africa Stablecoin Consortium—a coalition of Nigerian financial institutions, fintech firms, and blockchain experts—the cNGN stablecoin is pegged 1:1 to the Nigerian Naira and aims to bridge traditional…

The Central African Republic (CAR) has ventured into the cryptocurrency landscape by launching its own meme coin, dubbed $CAR. President Faustin-Archange Touadéra announced this initiative, describing it as an experiment to demonstrate how a simple meme can unite people, support national development, and elevate the country’s global presence. This move…

Meta Platforms, the parent company of Facebook, is set to initiate company-wide layoffs starting Monday, February 10, 2025. Notifications will begin at 5 a.m. local time in most countries, with exceptions in Germany, France, Italy, and the Netherlands due to local regulations. Employees in other regions, including Europe, Asia, and…

Ecobank Group has entered a partnership with XTransfer, the world’s leading B2B cross-border trade payment platform, to transform Africa-China trade. Through this collaboration, they are delivering seamless international payment solutions for small and medium-sized enterprises (SMEs) across the continent. With trade between China and Africa hitting a record $282 billion…

TikTok is proving to be more resilient than ever in the face of increasing regulatory pressure in the United States. Despite being removed from the Google Play Store and Apple App Store following a U.S. ban, the social media giant has found a way to keep its services accessible to…

VFD Group has notified the Nigerian Exchange (NGX) that its Board has approved the divestment of its 57.26% stake (343,546,646 ordinary shares) in Atiat Limited, a transaction worth ₦7 billion. The disclosure, signed by the company secretary, Gbeminiyi Shoda, was published on NGX on February 7, 2025. VFD Group, renowned…

The International Finance Corporation (IFC) has announced an equity investment of up to $50 million in Lagos Free Zone Company. This funding is aimed at developing and expanding Lagos Free Zone (LFZ)—Nigeria’s first deep-sea port-based private special economic zone. The investment is not only a crucial step toward bridging infrastructure…

In a strategic move to optimize its operations in West Africa, Diageo plc has announced the sale of its 80.4% shareholding in Guinness Ghana Breweries plc to the Castel Group. This decision aligns with Diageo’s ongoing strategy to adopt a more flexible, asset-light operating model in the region. Under the…

ByteDance, the parent company of TikTok, has unveiled OmniHuman-1, an advanced artificial intelligence (AI) model capable of transforming static photos and audio samples into lifelike videos. With its ability to produce realistic animations, speech synchronization, and natural body movements, OmniHuman-1 is redefining AI-driven video creation and setting new benchmarks in…

The GSMA Innovation Fund for Impactful AI has been unveiled, marking a significant initiative aimed at empowering small and growing enterprises in low- and middle-income countries (LMICs) across Africa, South Asia, Southeast Asia, and the Pacific. This fund is designed to foster AI-driven innovations that tackle critical socio-economic and climate…

The Nigerian government has inaugurated the National Broadband Alliance for Nigeria (NBAN) in a bid to bridge the country’s digital divide. This initiative marks a transformative step in accelerating internet connectivity and fostering digital growth across the nation. The launch, held in Lagos, was officiated by Dr. Aminu Maida, the…

Egypt’s financial landscape is evolving rapidly, and Khazna is at the forefront of this transformation. Founded in 2019, the fintech startup has made a name for itself by addressing a critical gap in the country’s financial system: the lack of access to traditional banking services for low- and middle-income earners.…