Business – Page 21 – Rise Africa

Japan & LAPO launch agro-processing factory in Edo State

03.03.2026

The Japanese Government, in partnership with the Lift Above Poverty Organisation, has commissioned a Pineapple Juice Processing Factory in Ekpoma, Esan West Local Government Area of Edo State, as part of a strategic effort to drive agricultural value addition, reduce post-harvest losses, and boost rural livelihoods. The factory, sited at Ukpenu-Emuhi community in Ekpoma, was...

Branch NG Named Best Financial Services Company

03.03.2026

Digital financial services company Branch NG has emerged as the winner of the 2026 Financial Services Company of the Year category at the National Brand Excellence and Leadership Awards held in Lagos. On Sunday, the company stated that it received the recognition during Nigeria’s Brand Week 2026, hosted by the Institute of Brand Management of...

FAAN cashless policy causes gridlock at Nigerian airports

03.03.2026

Passengers travelling through airports in Lagos and Abuja on Sunday were left stranded following the implementation of the Federal Government’s cashless payment policy at airport access gates, triggering massive gridlock, missed flights, and widespread frustration among travellers. Many passengers narrated harrowing experiences as motorists struggled to comply with the newly enforced electronic payment system introduced...

Nigerian ISPs Weigh Mergers Amid Market Pressures

03.03.2026

Nigeria’s internet service provider sector is showing early signs of consolidation as operators face rising right-of-way costs, regulatory hurdles, and stiff competition from mobile carriers offering retail data, including fibre-to-home broadband. Operators say larger, combined resources from consolidated ISPs can enable greater investment in network maintenance, redundancy, and coverage expansion. This could mean fewer outages,...

Rising Public Debt in Nigeria Dims Hopes for CBN Rate Cut

03.03.2026

Economic watchers have said that Nigeria’s improving macroeconomic indicators, including a cautious 50-basis-point rate cut by the Central Bank of Nigeria, easing inflation, exchange rate stability, stronger external reserves, and sustained GDP expansion, are being overshadowed by a steadily rising public debt profile. According to the Debt Management Office, Nigeria’s total public debt rose to...

PenCom Launches Digital Portal for Federal Retirees

03.03.2026

The National Pension Commission has officially launched a comprehensive digital overhaul of the retirement process for federal employees in a major move to modernise Nigeria’s pension landscape. This was disclosed in the Guidelines for Verification and Enrolment of Prospective Retirees of Federal Government Treasury-funded Ministries, Departments and Agencies issued by the regulator. Also, PenCom has...

Nigeria’s insurance sector growth outpaces banking at 21.4%

03.03.2026

Nigeria’s insurance sub-sector emerged as the primary growth engine of the financial services sector in the final quarter of 2025, recording a massive surge to 21.37 per cent. According to the latest report from the National Bureau of Statistics, the insurance sub-sector recorded a real growth rate of 21.37 per cent in Q4 2025. This...

OpenAI and Amazon announce $50bn AI partnership

03.03.2026

Amazon and OpenAI have announced a multi-year strategic partnership aimed at accelerating artificial intelligence innovation for enterprises, start-ups and consumers globally, with Amazon committing to invest $50bn in the AI company. The investment will begin with an initial $15bn injection, followed by an additional $35bn subject to certain conditions, deepening collaboration between the two companies...

NGX Group posts N22.9bn revenue, proposes N3 dividend

03.03.2026

The Nigerian Exchange Group Plc has reported core revenue of N22.9bn for the financial year ended 31 December 2025, about 36 per cent higher than N16.9bn in the previous year. The board of directors also proposed a total dividend of N3.00 per share, reflecting improved financial performance and strengthened shareholder returns. According to the audited...

CHI Boosts Insurance Awareness with Free Fuel for Motorists

03.03.2026

The insurance subsidiaries of Consolidated Hallmark Holdings, Consolidated Hallmark Insurance Limited and CHI Life Assurance Limited have held a Corporate Social Responsibility initiative that offered free fuel to motorists in Lagos as part of their efforts to deepen insurance penetration and drive retail brand visibility. According to a statement from the group on Friday, the...