Paystack has confirmed the dismissal of its Co-founder and former CTO, Ezra Olubi, citing “significant negative reputational damage” as the reason. The company stated that the termination followed resurfaced controversial posts on social media and was carried out under contractual rights and due process. All financial obligations owed to Olubi have been settled. Paystack clarified […]
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South African telecom company Vodacom is in discussions to expand its stake in Kenya’s Safaricom, currently at 39.93%, which could give it greater influence in East Africa’s largest telecom operator. Safaricom is valued at approximately KSh 1.19 trillion (around R157 billion). This move follows Kenya’s consideration of splitting Safaricom into three segments: telecom services, infrastructure, […]
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Meta has completed the core infrastructure of 2Africa, now the world’s longest open-access subsea cable system, spanning 45,000 km and linking Europe, the Middle East, and 16 African countries, with landings in 46 global locations. The cable is backed by a consortium including MTN GlobalConnect, Vodacom/Vodafone, Orange, and China Mobile International. The system is expected […]
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Google has announced a $2.1 million (₦3 billion) investment to support programmes aimed at increasing AI expertise in Nigeria. The funding will be allocated to five local organisations focusing on AI upskilling, innovation, and cybersecurity. FATE Foundation and the African Institute for Mathematical Sciences will integrate advanced AI curricula into universities to strengthen Nigeria’s technical […]
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BIC is celebrating the 50th anniversary of its flagship BIC 1 razor, a product that has shaped daily grooming habits in Nigeria and worldwide since its introduction in 1975. The milestone underscores the company’s commitment to innovation, quality, and consumer trust over five decades. The BIC 1 pioneered the low-cost, single-piece disposable razor concept, with […]
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Shareholders of SUNU Assurances Nigeria Plc have given overwhelming approval for the company’s proposed ₦9 billion recapitalisation plan, a strategic move designed to align the insurer with the stringent capital requirements of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The resolution was passed at an Extraordinary General Meeting (EGM) held in Lagos, which recorded […]
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The NNPC/Seplat Joint Venture has officially commissioned a sophisticated power distribution system and underground cabling network at the Nigerian Oil and Gas Industrial Parks Scheme (NOGAPS1) in Odukpani, Cross River State, marking a significant step in advancing Nigeria’s industrial infrastructure. The event drew senior representatives from NNPC Upstream Investment Management Services (NUIMS), Seplat Energy Producing […]
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Dangote Group has formalized a strategic partnership with Honeywell to significantly expand the capacity of its Lekki Refinery, targeting a production level of 1.4 million barrels per day (bpd) by 2028. The expansion is poised to enable Dangote to process nearly all of Nigeria’s current crude output, estimated at 1.5 million bpd, reinforcing the refinery’s […]
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Vodacom Group is in advanced discussions with the Kenyan government to acquire a portion of its 34.9% stake in Safaricom, the country’s largest publicly listed telecom operator. Currently holding nearly 40% of Safaricom, Vodacom is reportedly exploring options to increase its ownership, though no final agreements have been confirmed. Neither Vodacom, Safaricom, nor Kenya’s National […]
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Drivers operating on LagRide, the Lagos State–backed mobility platform, have voiced concerns over what they describe as onerous financial obligations and insufficient passenger demand on the app. According to several drivers speaking to Technext on the condition of anonymity, the platform requires daily remittances ranging from ₦70,000 to ₦100,000, a figure many say is almost […]
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