Dogecoin has experienced an unprecedented rise, outstripping the growth seen in major cryptocurrencies like Bitcoin and Ethereum, achieving a 145% increase since Donald Trump's election victory. Despite originating as a meme, Dogecoin has captured significant interest, illustrating the volatile and unpredictable nature of the cryptocurrency market, which is profoundly influenced by political and external events.
President Bola Tinubu unveiled a significant shift in Nigeria's energy strategy, offering motorists a choice between costly petrol or affordable Compressed Natural Gas (CNG). By advocating CNG, Tinubu aims to lead Nigeria towards a cleaner, cost-effective future while reducing dependence on petrol. The initiative underscores public-private collaboration, with NIPCO's pivotal support in the CNG adoption highlighting this transition.
Womble Bond Dickinson (WBD) has secured three prestigious Compliance Register Platinum Awards, highlighting its steadfast commitment to compliance excellence and regulatory standards. Announced on October 17, 2024, these awards bolster WBD's esteemed reputation in the legal sector. This achievement complements WBD's inclusion in the 2024 eprivateclient Top Law Firms list, underlining a continued pursuit of quality and excellence.
JP Morgan Chase has received an operating licence from the Central Bank of Kenya, allowing the establishment of a representative office in Nairobi. This move aims to explore and enhance business opportunities in Kenya and the wider East African region. By doing so, JP Morgan becomes the second US bank with such a presence in Kenya. CEO Jamie Dimon's planned visit to Africa further underscores the bank’s intent to grow its influence across the continent.
Minister Gwede Mantashe of Mineral and Petroleum Resources has announced the fifth consecutive reduction in fuel prices in South Africa. The decrease is attributed to the drop in Brent Crude Oil prices, increased production from major oil countries, and the appreciation of the rand against the US dollar. Petrol and diesel prices, along with paraffin, have all seen significant reductions starting October 2.
Billionaire Aliko Dangote is open to selling his 650,000 barrels per day oil refinery to Nigeria's NNPC, to address monopoly concerns and challenges with crude supplies. The $19 billion project aims to reduce Nigeria’s dependency on imported fuel, but faces disputes with partners and regulatory hurdles. The refinery currently works at half capacity using crude from Brazil and the U.S.
The family of Nick Imudia, the late CEO of Nigerian e-commerce company Konga, has refuted suicide rumors, emphasizing his vibrant nature. Imudia, who passed away at 43, is mourned by many who remember him for his contributions to Nigeria's tech sector and his role as a mentor and passionate entrepreneur.
The All Truck Drivers Forum and Allied SA (ATDF-SA) has called for a national trucker shutdown on Monday, 20 May, demanding the removal of foreign drivers from the industry. Tensions are high, with concerns over potential violence as protests and economic interests collide. The timing before national elections could amplify the political ramifications.
Multichoice Nigeria faces a legal battle after challenging the jurisdiction of the Competition and Consumer Protection Tribunal over its decision to restrain price increases on DStv and GOtv services. This comes after a suit was filed against their pricing policy changes in April 2024. The outcome could have significant consumer welfare implications.
