Metro Africa Xpress (MAX), a leading mobility company, has intensified its investment in electric mobility innovation as part of its commitment to sustainable transportation solutions across Africa. The company, known for pioneering tech-driven mobility services, is expanding its electric vehicle (EV) offerings to address the growing demand for cleaner and more efficient transportation alternatives. With rising fuel costs, environmental concerns, and increasing urbanization, the shift to electric mobility has become a strategic priority for many transportation firms. MAX has positioned itself at the forefront of this transition by developing electric two-wheelers and three-wheelers tailored to the African market. These vehicles…
Author: Temitope N.
FirstBank has launched a specialized dollar fund aimed at supporting its female employees, reinforcing its commitment to financial empowerment and workplace inclusivity. The initiative is designed to provide female staff with access to foreign currency savings and investment opportunities, helping them build financial stability and long-term wealth. With the rising volatility of the naira and increasing demand for foreign exchange, the dollar fund offers a secure way for female employees to preserve their earnings against currency depreciation. The bank has structured the fund to allow participants to save and invest in dollars, providing them with a hedge against inflation and…
The importation of cars into Nigeria has declined significantly as rising inflation, foreign exchange volatility, and high import duties continue to put pressure on vehicle prices. The combination of economic challenges has made it increasingly difficult for individuals and businesses to afford imported automobiles, leading to a sharp drop in demand. Car dealers and importers report that the high cost of forex, particularly the dollar, has made it more expensive to bring vehicles into the country. With the naira’s depreciation in both the official and parallel markets, importers are forced to pay more for foreign exchange, driving up the cost…
A rift has emerged between the federal government and tanker drivers over the enforcement of a ban on 60,000 unfit trucks operating across the country. The government’s decision to take unsafe petroleum tankers off the roads has sparked resistance from the drivers’ union, which argues that the move could lead to job losses, fuel distribution disruptions, and economic hardship for thousands of workers. The federal government, through regulatory agencies, has insisted that the ban is necessary to improve road safety, reduce accidents, and prevent environmental hazards caused by faulty petroleum tankers. Officials have cited numerous incidents of fuel tanker crashes,…
The naira has lost ground against the dollar, reversing its recent gains in both the official and parallel markets. The local currency, which had shown signs of stability in previous weeks, depreciated amid renewed pressure from forex demand, liquidity concerns, and economic uncertainties. At the official foreign exchange market, the naira weakened as traders and investors reacted to fluctuations in dollar supply and policy adjustments by the Central Bank of Nigeria (CBN). Despite recent interventions aimed at stabilizing the currency, the increasing demand for foreign exchange—particularly for imports, travel, and business transactions—has contributed to its depreciation. The shortage of forex…
Wema Bank has reaffirmed its commitment to promoting financial inclusion for women through targeted initiatives aimed at increasing access to banking, credit facilities, and financial literacy programs. The bank’s efforts align with broader national and global goals of empowering women economically, ensuring they have the resources and support needed to build sustainable financial futures. Recognizing that women often face barriers in accessing formal financial services, Wema Bank has introduced specialized banking products designed to meet their unique needs. These include tailored savings and loan packages, digital banking solutions, and advisory services that help women manage their finances effectively. By leveraging…
The Regional Off-Grid Electricity Access Project (ROGEAP) has partnered with Ecobank to provide training for small and medium-sized enterprises (SMEs) in the renewable energy sector. The initiative aims to equip entrepreneurs with the knowledge, skills, and financial support needed to scale their businesses and contribute to the growth of sustainable energy solutions across West Africa. With the increasing demand for clean and affordable energy, SMEs play a critical role in driving innovation and expanding access to renewable power sources. However, many small businesses in the sector face challenges such as limited funding, lack of technical expertise, and regulatory hurdles. The…
A women-focused investment platform has reached a major milestone, recording N1 billion in savings as part of its efforts to promote financial independence and wealth creation among women. The achievement, announced in celebration of International Women’s Day (IWD), highlights the growing participation of women in investment and financial planning. The platform, designed to provide women with access to savings, investment opportunities, and financial literacy programs, has seen significant growth in recent years. With more women actively engaging in structured savings and investment plans, the initiative is helping to bridge the financial gap and encourage long-term wealth building. The N1 billion…
VFD Group, in partnership with Utopia, has launched an initiative to empower 5,000 women-led small and medium-sized enterprises (SMEs) across Nigeria. The program aims to provide women entrepreneurs with financial support, business training, and mentorship to enhance their capacity for growth and sustainability in a competitive market. Recognizing the challenges faced by women in business, including limited access to funding, market visibility, and business development opportunities, VFD Group and Utopia have designed this initiative to bridge the gap. Through a combination of financial aid, skills training, and strategic networking opportunities, the program seeks to create a more inclusive and supportive…
Hydrogen Payment has extended its corporate social responsibility efforts by providing a school with a solar power system, ensuring a stable and sustainable energy supply for students and teachers. The initiative aims to address electricity challenges that have long affected the school’s learning environment, enabling uninterrupted academic activities and improving overall educational outcomes. The project is part of Hydrogen Payment’s commitment to supporting education and sustainability through innovative energy solutions. With unreliable power supply being a major issue for many schools across Nigeria, the company recognized the need to step in and offer a lasting solution. By installing solar panels…