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Top Business & Finance News Headlines For Today, Wednesday, 5th April, 2023

by Ikenna Ngere
April 5, 2023
in Business News, Financial, News
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Key Business Stories to Watch This Week: MPC Meeting, ATM Fee Hikes, Nigeria Hits OPEC’s 1.5M BPD Oil Production and More
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1. Huawei Partners TD Africa to Launch Cutting-edge SME Products

Huawei, a leading multinational technology company has partnered TD Africa, sub-Saharan Africa’s biggest tech, solutions and lifestyle distributor to roll out a range of state-of-the-art products that are targeting the Small and Medium Enterprises (SME) market in Nigeria and beyond… Read more

Source: https://www.thisdaylive.com/index.php/2023/04/05/huawei-partners-td-africa-to-launch-cutting-edge-sme-products/

2. MAN hails suspension of beverages, tobacco excise duty hike

The Manufacturers Association of Nigeria has hailed the Federal Government’s decision to halt the proposed increase in excise duty on alcohol, non-alcoholic beverages and tobacco… Read more

Source: https://punchng.com/man-hails-suspension-of-beverages-tobacco-excise-duty-hike/

3. Senate okays new Chinese bank for $23bn railway project

Senate on Tuesday rescinded its decision on the financier of the Kaduna-Kano railway project in the country from the China Exim Bank to the China Development Bank and harmonised the terms on the Federal Government’s 2016-2018 s external borrowing plan… Read more

Source: https://punchng.com/senate-okays-new-chinese-bank-for-23bn-railway-project/

4. Entrepreneur Upbeat about Nigeria’s Economy Despite Harsh Terrain

The Managing Director/CEO, Tank & Tummy, Mrs Titilola Mordi-Adeseye has expressed confidence in the nation’s economy despite the harsh business environment for businesses in the country.. Read more

Source: https://www.thisdaylive.com/index.php/2023/04/05/entrepreneur-upbeat-about-nigerias-economy-despite-harsh-terrain/

5. NERC moves to address power consumers’ complaints

The Nigerian Electricity Regulatory Commission, on Wednesday, unveiled its service charter, which provides details on the rights, obligations and redresses mechanisms by the regulator to power users nationwide… Read more

Source: https://punchng.com/nerc-moves-to-address-power-consumers-complaints/

6. Insurance Sector Recapitalisation and Foreign Takeovers

As Insurance sector regulator considers fresh round of recapitalisation, local investors  are worried of losing their stakes in existing insurance firms to their foreign counterparts.. Read more

Source: https://www.thisdaylive.com/index.php/2023/04/05/insurance-sector-recapitalisation-and-foreign-takeovers/

7. UBA Foundation empowers women with tech skills

UBA Foundation, the corporate social responsibility arm of United Bank for Africa Plc, says it has joined the rest of the world to celebrate women in the month of March, with various activities aimed at empowering young women and promoting gender equality… Read more

8. Capital importation records 4th decline to $1.06bn in Q4’22

Capital imported into the country recorded the fourth consecutive quarterly decline to $1.06 billion in the fourth quarter of 2022 (Q4’22), from $1.15 billion in Q3’22.. Read more

Source:https://www.vanguardngr.com/2023/04/capital-importation-records-4th-decline-to-1-06bn-in-q422/
9. Ecobank grows profit 13% to $540m
The Ecobank Group has recorded a 13 per cent growth in profit before tax, PBT, to $540 million in the financial year ended December 2022… Read more
Source: https://www.vanguardngr.com/2023/04/ecobank-grows-profit-13-to-540m/
10. Stock market extends bearish, sheds N553bn
The domestic equity market on Wednesday recorded its third consecutive loss in the week,  bringing down the benchmark Index by 1.88 per cent as investors sold off Airtel Africa and 13 others… Read more
Source: https://www.vanguardngr.com/2023/04/stock-market-extends-bearish-sheds-n553bn/
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