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    FairMoney Fastest-Growing Company in Africa 2024

    FairMoney, Africa’s leading neobank, has been ranked as one of the fastest-growing companies in Africa according to the Financial Times. The ranking, developed in collaboration with Statista, highlights FairMoney’s exceptional and resilient growth since its establishment in 2017. FairMoney’s category-leading growth between 2019 and 2022 underscores its dedication to expanding services that drive financial inclusion and economic empowerment for millions of consumer and business bank users. FairMoney’s Co-Founder & CEO Laurin Hainy expressed gratitude for the recognition while emphasizing the company’s ongoing commitment to excellence, innovation, and customer empowerment. FairMoney’s continuous pursuit of growth and improvement reflects its mission to…

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    CBN Halts Cybersecurity Levy Order

    The Central Bank of Nigeria (CBN) has revoked its cybersecurity levy order, three days before its implementation. On May 6, 2024, the CBN issued a circular directing all commercial banks and payment service providers to implement a compulsory withdrawal of 0.05% cybersecurity levy on all electronic transactions. This was in accordance with the Cybercrime Prevention and Prohibition Amendment Act of 2024. The Apex bank however withdrew this directive in a circular that was released on Sunday night, dated May 17,2024. Signed by its Director of Payment Systems Management, Chibuzor Efobi, and Director of Financial Policy and Regulation Department, Haruna Mustafa,…

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    Best Businesses To Invest In 2024

      Running your own business offers a myriad of benefits, both personally and professionally. Being your own boss provides a level of independence and autonomy that traditional employment may lack. You have the freedom to make decisions, set your own schedule, and shape the direction of your business. Also, as a business owner, you have control over your financial destiny. You can determine pricing, manage expenses, and reinvest profits back into the business. The potential for financial success is directly linked to your efforts and strategies.   In 2024, it is a good idea to consider the best businesses to…

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    Nigeria May Lose Tax Debt If Multichoice Is Sold

    A member of the Nigerian House of Representatives, Saidu Abdullahi has revealed that there are ongoing arrangements to sell Multichoice Group and its subsidiaries to a foreign buyer. However, there is a concern as the company has unresolved tax debts and this calls for urgent actions for MultiChoice to recover the outstanding taxes. In Abdullahi’s words, “There are ongoing arrangements to sell Multichoice Nigeria and Multichoice Group subsidiaries in Nigeria to a foreign interest, while tax indebtedness is outstanding. If urgent actions are not taken to recover the tax revenues from the Multichoice Group, Nigeria may lose huge revenue that…

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    MTN Nigeria’s blueprint for long-term financial planning

    Long-term financial planning goes beyond mere budgeting; it’s a strategic roadmap that helps companies like MTN Nigeria prepare for unforeseen challenges and capitalize on opportunities. By establishing a solid financial foundation, the company can enhance its ability to weather economic uncertainties and maintain financial health over the long run. A crucial aspect of long-term financial planning is the integration of contingency plans. MTN Nigeria should identify potential risks and formulate strategies to address them. Whether it’s currency volatility, regulatory changes, or unforeseen market shifts, having well-defined contingency plans enables the company to respond swiftly and effectively, minimizing the impact on…

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    Apple To Invest in AI after 10Years of Electric cars

    The parent company behind the iPhone and MacBook, Apple will now wind down its team working on electric cars, called Special Projects Group, a decade after kicking off the project, per reports on Tuesday. According to an announcement by the company executives in a short meeting, the tech giant will be scuttling its secretive and long-running effort to build an autonomous electric car. Apple’s chief operating officer Jeff Williams and the vice president in charge of Titan (the electric car project), Kevin Lynch, reportedly announced the news to the team Tuesday in a short meeting that lasted about 12 minutes…

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    Two Senior Executives at Binance Detained in Nigeria

    Two senior executives at Binance, the world’s largest exchange have been detained in Nigeria, per a Financial Times report. Citing people familiar with the matter, the report says the executives flew to Nigeria following the country’s decision to ban several cryptocurrency trading websites last week. However, they have been detained by the office of Nigeria’s national security adviser and their passports have been seized. Additionally, we can confirm that the Binance peer-to-peer (P2P) marketplace has been deactivated in Nigeria. Also, the NGN trading pair on the world’s largest exchange has been disabled. Recall that yesterday, we reported that the Central…

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    Why You Should Invest Wisely In 2024

    Investing wisely is not just a financial option; it is a strategic imperative for those aiming to build wealth, secure financial stability, and achieve long-term goals. In 2024, you must give great priority to this for your financial wellbeing. Whether you’re a novice or experienced investor, understanding the reasons behind the importance of prudent investment can be a key driver of financial success.   Investing Wisely In 2024   1. Wealth Creation and Growth: Investing provides the opportunity for your money to grow over time. Instead of leaving funds idle or relying solely on savings accounts, which offer minimal returns,…

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    Benefits of Investing in Website Development To Business

    Businesses are getting modernized, globally, along with invading technological development. If you own a business then you need to promote your business and products and nothing is better than the digital media platforms. But, is it really enough that you use only social media to promote and boost your business? The answer is NO. You need much more than only paid promotions on diverse social media. That’s why a lot of businesses have designed their own websites using top eCommerce website builders to upgrade their performance and aid up the connection with their clients. Indeed, the designed website can educate…

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    How High-Speed Internet Can Improve Business

    Companies are undergoing digital transformations at a dizzying rate, and technological advancements are occurring simultaneously. Several factors determine business velocity, but a sluggish or unreliable internet connection is a typical bottleneck. Viewing production and inventories in real-time is crucial for corporations with various locations. High-bandwidth networks are necessary for financial institutions to manage accounts and transactions, and practically every business on Earth needs fast, reliable access to cloud software to stay competitive and satisfy consumer expectations. High-quality, fast, and dependable business internet may be profitable for any size company, regardless of whether or not it relies heavily on the internet…

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    SA’s WhereIsMyTransport ceases operations due to funding

    South African mobility startup WhereIsMyTransport has ceased its operations due to an inability to secure the necessary funding to continue its mission. Founded in 2016, WhereIsMyTransport operated as a significant big data platform for sustainable mobility in emerging markets, aggregating and integrating data to create an open data platform. Their solutions served cities, transportation operators, and passengers, offering coordinated and monitored services, system integration, and user access through various endpoints. The company, which had a presence in South Africa and Mexico, had previously secured substantial funding, including a US$14.5 million Series A extension round, bringing their total funding to over…

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    Ivory Coast to implements VAT on sales platforms

    Ivory Coast has unveiled a shift in its tax policy aimed at boosting its tax revenue. As part of this change, online sales platforms and digital services in the country will now be subject to the Value Added Tax (VAT), marking a substantial transformation in the nation’s fiscal landscape. The General Tax Directorate (DGI) made this known in a press release seen by Ripples Nigeria on Monday, October 29, 2023. The new development will include online sales platforms and digital services in the VAT framework. The newly affected operations encompass a wide array of digital services, spanning online advertising, data…

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    Twitter to become ‘Ads Bed’ for low-paying users

    Tech entrepreneur and billionaire, Elon Musk, has revealed plans to make X, formerly known as Twitter, to become a “Ads-Bed” for low-paying users. Musk disclosed this in a tweet, noting that the team will soon launch two new tiers of premium subscriptions. “One is lower cost with all features, but no reduction in ads, and the other is more expensive, but has no ads,” Musk stated. The billionaire owner of the microblogging site did not provide further detail on the proposed subscription plans. The new development comes after introducing a $1 service charge for new users, with test ongoing in…