Klak, a leading B2B SaaS provider, has officially launched its innovative cash flow management and finance automation platform designed to help small and medium-sized businesses (SMBs) streamline their financial operations and optimize cash flow. This new solution aims to address common challenges in B2B payments, improve financial visibility, and reduce time spent on manual financial tasks. Everyday financial and treasury operations are manual, time-consuming, and complex. Tasks like monitoring a company’s cash position in real-time across multiple legal entities, regions, financial institutions, ledgers, and payment gateways are extremely labor-intensive and time-consuming. The fragmented data caused by a lack of communication between…
Author: Oladi Samuel
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Nigeria’s headline inflation rate has dropped to 24.48% year-on-year in January 2025, following the rebasing of the Consumer Price Index (CPI), according to data released by the National Bureau of Statistics (NBS).There is a decline in the general price level of goods and services compared to 34.80% in December 2024, which was calculated using the previous methodology.The recent rebasing of Nigeria’s CPI by the NBS significantly altered inflation metrics across the country.The NBS updated the base year from 2009 to 2024, revised the weighting structure to reflect current spending patterns, and expanded the product basket to better capture household consumption.…
On Follow The Money with Ugodre, we break down the latest financial milestones shaking up Nigeria’s markets! Nigeria Breweries has hit a staggering ₦1tn in revenue, marking a historic moment for the industry. Meanwhile, VFD Group is making waves with massive profit growth, showing resilience in Nigeria’s evolving financial landscape. And in a major boost, the Nigerian stock market has reached a new record high. What’s driving these numbers? Who stands to gain?Watch the full breakdown on Nairametrics TV on YouTube—Subscribe and stay informed!
TD Africa, a leading technology distributor in Africa, has launched TD Super App Version 2, an upgraded, feature-rich platform designed to revolutionize technology procurement for individuals and businesses. The enhanced App offers seamless access to a wide range of cutting-edge tech products at unbeatable prices, with faster delivery options to improve efficiency and convenience.Available on both web and mobile, the revamped TD Super App boasts an intuitive, user-friendly interface, making it easier than ever for users to discover and purchase technology products. This latest upgrade reaffirms TD Africa’s commitment to affordability, efficiency, and convenience, ensuring that businesses and individuals can…
BUA Foods presents a unique case. Revenue surged past N1.5 trillion in 2024, profits nearly tripled, and margins expanded.However, the stock’s performance tells a different story. The market seems unconvinced.The stock, after an impressive 198% rally in 2023 and another 115% climb in 2024, has lost momentum, slipping 10% year-to-date as of the close of trading on Friday, February 14, 2025.Has the market lost faith, or is this merely a pause before the next leg up?A business in full stride BUA Foods is not just growing; it is asserting its dominance across multiple product categories.The company posted a 109.3% surge in…
The government of Nigeria is making a fresh push to build a robust e-governance system after years of failed attempts marked by inadequate infrastructure and poor connectivity.The new target, according to the National Information Technology Development Agency (NITDA), is to digitize at least 75% of government services by the year 2027.NITDA’s Director-General, Kashifu Inuwa, who disclosed this during a recent meeting with a delegation from the Ukrainian Embassy in Nigeria, said this target is to be achieved through a one-stop-shop digital platform being developed by the Agency.According to him, through this platform, Nigerians will be able to access all government…
The Centre for the Promotion of Private Enterprise (CPPE) has called upon the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to halt further increases in interest rates.Dr. Muda Yusuf, Chief Executive Officer of CPPE, emphasized that pausing interest rate hikes would provide an opportunity for fiscal policy measures to address inflation.The 299th MPC meeting of the CBN is scheduled for Tuesday and Wednesday.Yusuf expressed concerns that additional interest rate hikes would have adverse effects on the manufacturing and real sectors.Expectations from the CBN’s MPC meeting “My expectation from the MPC meeting is to maintain a hold, however,…
The Katsina State Government has invested approximately N5.7 billion to provide 3,610 women across 361 wards with four goats each, as part of a goat-rearing initiative aimed at boosting agricultural development.Governor Dikko Radda disclosed this during the launch of the support distribution under the goat-rearing initiative at Dan-Nakolo in Daura Local Government Area (LGA).He stated that the occasion marked a significant milestone in the state’s agricultural development and a step toward realizing the vision of making Katsina a leader in self-sufficiency, not only across the northern region but also in Nigeria as a whole.“The Goat Rearing Initiative which cost N5.7…
The Manufacturers’ Chief Executive Officers’ Confidence Index in the fourth quarter of 2024 increased modestly by 0.5 points from 50.2 points in Q3 2024 to 50.7 points in Q4 2024.This is according to the MCCI Q4 2024 report released by the Manufacturers Association of Nigeria (MAN) and signed by its Director General, Mr. Segun Ajayi-Kadir.The MCCI is a research and advocacy publication of MAN, which shows the perception of manufacturing operators and quarterly trends in the manufacturing sector.400 CEOs of manufacturing companies across the six geopolitical zones are surveyed on the macroeconomic economy and government policiesMajor insights A breakdown of the…
Bitcoin has been struggling with volatility in recent weeks as investors have taken a cautious approach due to concerns about monetary policy tightening and its potential effects on risky assets.The most recent U.S. Federal Reserve’s hawkish stance may be maintained for longer than expected, according to the Consumer Price Index (CPI) data for January, released last week, which showed inflation continuing above the target of 2 percent.Since higher interest rates typically reduce investor appetite for speculative investments, this has cast a shadow over Bitcoin and other risk-sensitive assets.However, higher institutional interest and the Fed’s stance on Bitcoin offer hope for…