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CBN Investigates Banks Over Domiciliary Account Withdrawal Restrictions

noreply@blogger.com (BrandArena) — Mon, 28 Sep 2026 18:36:42 +0000

The Central Bank of Nigeria (CBN) has launched an investigation into commercial banks following complaints over alleged restrictions on customers’ access to foreign currency held in domiciliary accounts.

The investigation comes amid growing concerns among bank customers, who allege that some deposit money banks (DMBs) are imposing cash withdrawal limits, rationing foreign currency and introducing procedural delays that make it difficult for account holders to access their funds.

Recent reports indicate that customers in major commercial centres, including Lagos, Abuja and Port Harcourt, have encountered difficulties when attempting over-the-counter cash withdrawals from US Dollar, Euro and British Pound domiciliary accounts.

According to insider sources familiar with the matter, the CBN’s Financial Policy and Regulation Department initiated the inquiry following a rise in petitions from individual depositors, trade groups and holders of foreign currency accounts.

The complaints centre on allegations that some banks are rationing cash payouts, imposing daily withdrawal caps or requiring customers to provide lengthy advance notice before they can withdraw foreign currency, despite having sufficient balances in their accounts.

“We have received formal complaints indicating that several commercial banks are imposing unauthorized limits on foreign currency cash payouts,” a senior apex bank official stated on condition of anonymity. “The CBN’s foreign exchange guidelines guarantee that customers who fund their domiciliary accounts via cash deposits or legitimate wire transfers have the right to unfettered access to their funds in line with existing regulations. Any bank creating artificial bottlenecks is acting in breach of operational standards.”

Alleged Cash-Rationing Practices

Some frustrated account holders and corporate customers have also alleged that certain branches employ measures that make substantial foreign currency cash withdrawals more difficult.

One of the complaints involves the alleged disbursement of foreign currency exclusively in low-denomination notes, such as $5, $10 or $20 bills, when customers request larger amounts.

Depositors claim that such practices can make sizeable withdrawals cumbersome and may encourage customers to accept digital transfers instead of cash.

Other reported complaints include:

Unannounced daily caps: Customers allege that some branches impose withdrawal limits of as little as $500 or $1,000, regardless of available account balances.
Extended notice periods: Some customers claim they are required to wait between five and 10 business days before collecting foreign currency cash, with branches citing the need to obtain “head office cash allocations”.
Reported system and cash availability issues: Customers allege that network outages or foreign currency shortages are sometimes cited when cash withdrawals are requested, while other foreign exchange transactions continue to be processed.

Speaking to reporters outside a commercial bank branch in Victoria Island, Lagos, an import business operator shared his experience: “I came to withdraw $5,000 from my cash-funded domiciliary account to pay overseas vendors who only accept physical notes for incoming trade logistics. The branch manager told me they could only give me $1,000, and all in $20 bills. It feels like an artificial squeeze to retain forex liquidity on their balance sheets.”

CBN Examines Banks’ FX Cash Practices

The CBN’s investigation is expected to examine whether the reported restrictions are linked to foreign currency cash availability, localised liquidity pressures or possible breaches of applicable banking and foreign exchange rules.

The regulatory intervention comes against the backdrop of the CBN’s wider efforts to strengthen oversight of the banking system and promote confidence in formal financial channels. The apex bank’s current framework distinguishes domiciliary accounts from dormant accounts and has previously clarified that active domiciliary accounts are not affected by its guidelines on dormant accounts and unclaimed balances.

The CBN has also maintained cash-related policies governing withdrawals across the banking system, with revised cash policies taking effect from January 1, 2026.

Financial analysts note that while banks continue to operate within a changing macroeconomic and foreign exchange environment, they remain responsible for meeting their obligations to customers in accordance with applicable regulations and account terms.

“The integrity of the domiciliary account framework relies entirely on consumer trust,” said financial analyst and macroeconomic strategist Dr. Arinze Okafor. “If depositors begin to feel that putting forex into the banking system leaves their funds trapped, it risks driving foreign currency back into informal black-market channels. The CBN’s decision to investigate and enforce compliance is a critical step to safeguard confidence in the formal banking sector.”

Banks Face Regulatory Scrutiny

As part of the investigation, the CBN has reportedly directed affected commercial banks to provide records relating to foreign currency cash requests, payouts and vault balances across key branches over the past two quarters.

The inquiry is also expected to consider whether some banks are prioritising corporate customers or internal treasury operations over retail depositors when allocating available foreign currency cash.

The regulator is expected to take action where investigations establish breaches of applicable rules, including alleged unlawful restrictions on customers’ access to legitimate funds, unapproved charges or inaccurate representations about foreign currency availability.

The investigation underscores the importance of transparency and regulatory compliance in the management of Nigeria’s domiciliary banking system, particularly as businesses and individuals continue to rely on foreign currency accounts for international trade, remittances and other cross-border transactions.

First Trustees Brings Stakeholders Together to Advance Sustainable Agricultural Financing

noreply@blogger.com (BrandArena) — Mon, 28 Sep 2026 18:09:24 +0000

First Trustees Limited, a subsidiary of FirstHoldCo Plc and one of Nigeria’s leading providers of fiduciary and trusteeship services, has hosted the maiden edition of its Commercial Trust Colloquium, bringing together key public and private sector stakeholders to explore sustainable financing models for Nigeria’s agricultural sector.

Themed “Beyond Intervention Funds: Building Sustainable Financing Models for Nigerian Agriculture”, the colloquium examined financing solutions capable of unlocking the long-term potential of the country’s agricultural sector and attracting sustainable private capital.

Agriculture remains central to Nigeria’s food security, employment, industrial growth and economic diversification. While intervention funds have provided critical support to the sector over the years, the scale of the opportunity requires more resilient, scalable and market-driven financing models capable of supporting viable businesses across the agricultural value chain.

The Commercial Trust Colloquium provided a platform for policymakers, financial institutions, investors, development partners, agribusiness operators and capital market stakeholders to examine alternative financing structures beyond traditional intervention mechanisms.

Discussions focused on strengthening agricultural value chains, allocating risks more effectively, improving productivity and building investor confidence needed to sustain long-term investment in the sector.

Speaking on the conditions required for sustainable agricultural finance, Ereifemi Akeredolu, Managing Director and Chief Executive Officer of First Trustees Limited, said: “In my work across trust and financial services, I have seen that sustainable growth is rarely the result of funding alone. Capital moves more confidently when responsibilities are clear, risks are properly understood, governance is sound and all parties can rely on the structures around a transaction.”

She noted that trust institutions have an important role in establishing accountability, protecting the interests of participating parties and helping to ensure that agreed obligations are fulfilled.

According to her, these functions can support the development of credible, long-term structures needed to keep capital committed to Nigerian agriculture.

Beyond the thought-leadership discussions, First Trustees unveiled its upgraded digital experience platform, marking a significant milestone in the company’s digital transformation.

The platform is designed to simplify client interactions by digitising key trust-service processes, reducing paperwork, streamlining documentation and providing a more efficient service experience.

Through a secure and user-friendly interface, the platform puts greater control in your hands right from your mobile device, bringing your wills, trusts and more into one seamless digital experience.

The upgrade reflects First Trustees’ commitment to using technology to improve accessibility, convenience, operational efficiency and the overall client experience.

The unveiling represents a strategic step towards modernising trust administration and delivering services that meet the evolving expectations of today’s digitally connected clients.

PodFest Naija 2026 Celebrates Nigeria’s Storytelling, Creativity and Culture in Lagos

noreply@blogger.com (BrandArena) — Mon, 28 Sep 2026 16:34:51 +0000

PodFest Naija 2026, the second edition of the storytelling festival, brought together more than 3,000 attendees, including storytellers, creators, podcasters, brands, policymakers, industry leaders and everyday Nigerians for a day of conversations, collaboration, creativity and learning.

The festival, held on Friday, September 25, at Harbour Point in Lagos, was curated by The Muvmnt Studio, the storytelling platform of AT3 – The Muvmnt Agency, in partnership with Eventful Nigeria.

Building on the success of its inaugural edition, PodFest Naija 2026 explored the experiences and stories behind the platforms, businesses and public personas that shape Nigerian society, under the theme of the belief that behind every platform is a person, and behind every person is a story.

Nollywood actor Funke Akindele took a selfie with Tosin Adefeko, Convener of PodFest Naija, and other content creators at the event

The festival featured six themed stages covering Life, Love, Culture, Money, Health and Brands. The sessions examined the experiences influencing how Nigerians live, love, work, create, build businesses, navigate challenges and imagine the future.

A key addition to this year’s programme was the Citizen Stage, which brought the everyday experiences and concerns of Nigerians into the centre of the festival. The platform created a meeting point between ordinary citizens and some of the country's most influential storytellers and public figures.

A major highlight was the participation of Dr. Kadri Obafemi Hamzat, Deputy Governor of Lagos State, who delivered a keynote address on the economic importance of Nigeria's creative sector and the growing influence of technology on how Nigerian culture is created, distributed and exported.

“Lagos is now telling its own story. The podcasters, the filmmakers, the musicians, the writers, the designers, the developers and the entrepreneurs in this room have turned a Lagos microphone into a global broadcast," Hamzat said. "When a young man in Surulere records a conversation in his bedroom and it is streamed in Houston, in London or in Nairobi by the weekend, that is not just content. That is export. That is soft power. That is the Lagos economy speaking to the world in its own voice.”

Speaking on the second edition, Tosin Adefeko, Convener of PodFest Naija and CEO of AT3 Resources – The Muvmnt Agency, said the festival was created to move the conversation beyond content and platforms to the people and experiences behind them.

“We needed a convergence. A place where creators, storytellers, brands, policymakers, industry leaders and, most importantly, everyday people could come together and talk about the one thing we all have in common: our lived experiences.

“Behind every podcast is a person. Behind every microphone is a life. Behind every creator is a journey. And behind every seemingly successful person is a story you probably haven't heard.”

One of the festival's most anticipated sessions was The Uncovered Series, where Adefeko held a candid conversation with award-winning filmmaker, actress and producer Funke Akindele.

The conversation explored aspects of Akindele's journey beyond her awards, box-office records and public image, including purpose, sacrifice, resilience, creativity and reinvention.

The session reinforced PodFest Naija's central philosophy that some of the most valuable parts of a public story are often the experiences audiences do not see.

The festival also unveiled The Next Big Podcaster, an initiative by The Muvmnt Studio aimed at discovering, developing and spotlighting emerging voices with the potential to shape the future of podcasting in Nigeria.

Sponsored by Afrinvest and Yolly, the initiative brought together emerging storytellers and culminated in Clement Akintade being announced live on stage as the winner.

The initiative forms part of The Muvmnt Studio's broader commitment to developing a pipeline of emerging storytellers and creating opportunities for young Nigerians to turn creativity and passion into sustainable careers.

PodFest Naija 2026 also recognised established voices through the PodFest Hall of Fame, celebrating individuals whose work, stories and contributions have helped shape Nigeria's creative and cultural landscape.

The festival featured a diverse line-up of storytellers and cultural voices, including Joro Olomofin, Toolz Oniru-Demuren, Ify Mogekwu, Dr. Morenike Molehin, Francesca Uriri, Anthony Wolve, Grace Ofure, Tosin Olaseinde, Rufai Oseni, Fisayo Soyombo, Babajide Ogunsanwo, Joseph Edgar, Khadijah Okunnu, Dr. Foy and Masoyinbo, among others.

Their conversations cut across generations, industries and genres, reinforcing the festival's central message that storytelling is not simply about what is said into a microphone. It is also about identity, memory, ambition, struggle, culture and the experiences that connect people.

Beyond conversations, PodFest Naija 2026 was designed to connect storytelling with economic and professional opportunities.

The programme featured live podcast recordings, monetisation masterclasses, creator conversations, practical learning sessions and platforms for emerging talent, highlighting the growing role of storytelling within Nigeria's wider creative economy.

The festival provided a platform for creators to engage with brands, storytellers to learn from industry leaders, emerging talent to discover opportunities and audiences to participate in conversations that often remain outside traditional conference spaces.

The 2026 edition received support from brands and organisations including The Place, Yolly, Meta, MTN, DNIL, Afrinvest, Page International Finance Company, Lebara, Sahara Foundation, UAC, Coca-Cola, Crown Flour Mills, Beloxxi, Fan Milk and Eve Essentials. Dashboard Innovations and Clover also joined as strategic partners.

The participation of the organisations reflected the growing interest in the intersection of storytelling, culture, creativity and consumer engagement.

For The Muvmnt Studio, PodFest Naija extends beyond podcasting to creating a space where Nigeria can hear itself across generations, industries, communities and experiences.

From creators with microphones and entrepreneurs building businesses to policymakers shaping the ecosystem, brands telling their stories and everyday Nigerians navigating life, the festival provides a platform for experiences that might otherwise remain unheard.

As Adefeko puts it: “Everybody has a story. Tell your own.” Every voice carries a story. Every story carries an experience. And when those experiences come together, they can shape how a generation sees itself.

PodFest Naija will continue to build that convergence as a platform for creativity, collaboration, innovation and learning, while providing a growing home for stories that deserve to be heard, remembered and carried beyond borders.

WIMB Africa Roundtable Urges Policies That Improve Citizens’ Lives

noreply@blogger.com (BrandArena) — Mon, 28 Sep 2026 16:22:17 +0000

Stakeholders from the business, media, creative, engineering, legal and political sectors have called for policies that translate government decisions into measurable improvements in the daily lives of citizens.

The call was made at the monthly Business Roundtable organised by the African Women Foundation for Nation Building (WIMB Africa) at the Marriott Hotel, Ikeja, Lagos, where rising transportation costs, inadequate infrastructure and limited economic opportunities for women and young people dominated discussions.

The roundtable, themed “Politics as a Nation-Building Catalyst”, provided a platform for sector-focused discussions on pressing economic and national issues, with participants exchanging perspectives and exploring practical solutions to development challenges.

The event brought together WIMB Africa Founder, Dr Bukola Bello Jaiyesimi; keynote speaker, Mayor Akinpelu; moderator, Mr Gbadebo Akinyemi; former Rector of Yaba College of Technology, Engr. Obafemi Omokungbe; CEO, HONTAR; Barr. Deji Fasunwon; veteran journalist and media career development specialist, Lekan Otufodunrin; former Chairman, Odi-Olowo LCDA, Hon. Rasak Ajala; WIMB Africa Project Coordinator, Omotayo Jane; Ms. Anjolaoluwa Olanrewaju, among other stakeholders.

Participants said sustainable national development requires more than government action, stressing the importance of effective institutions, policy implementation and an informed citizenry capable of holding public officials accountable.

Speaking at the event, former Rector of Yaba College of Technology, Engr. Obafemi Omokungbe, said infrastructure investments would have limited impact without policies and institutions capable of sustaining them.

“Policy is not a mere set of government interventions. It is the underlying system that allows families, institutions, markets, communities and citizens to function effectively,” Omokungbe said.

He identified roads, electricity, water and broadband as critical infrastructure, but stressed that their effectiveness depended on the policy framework governing their development, maintenance and use.

“A weak policy environment can undermine even a well-funded physical infrastructure,” he added, calling for stronger institutions, clear standards and effective implementation.

The keynote speaker, Mayor Akinpelu, said policy reforms could promote economic stability and create a more predictable environment for businesses to plan and invest.

He, however, noted that economic reforms could affect different segments of society differently, urging policymakers to introduce targeted interventions for vulnerable groups, particularly rural women.

Akinpelu also encouraged WIMB Africa to promote cooperative societies among women, arguing that collective economic structures could improve access to resources and reduce the pressure of individual survival.

“When women form cooperative societies in different areas, they will be able to pull together resources that will help them as a group instead of trying to survive as individuals,” he said.

Veteran journalist and media career development specialist, Lekan Otufodunrin, examined the effects of major government policies on households and businesses, citing the removal of fuel subsidy as an example of a decision with wide-ranging economic consequences.

He noted that the policy had significantly affected transportation costs, with the impact extending to other areas of economic activity.

The roundtable also focused on citizen oversight and public accountability, with participants urging Nigerians to take greater interest in government budgets, public expenditure and projects earmarked for their communities.

They said citizens should be able to demand information about public funds allocated to specific projects, while the media and civil society organisations should provide platforms for scrutiny, public education and engagement.

Participants further examined mechanisms for holding elected officials accountable, including constitutional provisions governing legislative representatives and the role of civic participation and political engagement in demanding improved public performance.

Founder of WIMB Africa, Dr Bukola Bello Jaiyesimi, said the roundtable reflected the organisation’s broader commitment to community empowerment and nation building across Africa.

“What we try to do is to lead, learn and leverage impact,” Jaiyesimi said.

She explained that the decision to focus the latest edition on politics was deliberate because political decisions have direct implications for governance, development and citizens’ everyday experiences.

Adding a generational perspective to the discussion, social-impact artist and climate-justice advocate, Ms Anjolaoluwa Olanrewaju, urged young Nigerians to become better informed and more actively engaged in national affairs.

Olanrewaju said the discussion challenged her to look beyond the perception that politics was solely the responsibility of government or older generations.

“It has also prompted me to do more research and be more involved in the political affairs of the nation. So, not just leaving politics for governments, I also have a part to play,” she said.

Established in 2014, WIMB Africa operates across five African countries. Its monthly Business Roundtable brings together stakeholders from different sectors to examine pressing national issues, exchange perspectives and explore practical solutions to development challenges.

Meta Launches Camera-Free Ray-Ban AI Glasses

noreply@blogger.com (BrandArena) — Thu, 24 Sep 2026 14:55:00 +0000

At a time when many countries are calling for a ban on smart glasses due to privacy and security concerns, Meta on Thursday, September 24 2026, launched its first camera-free artificial intelligence glasses, introducing the Ray-Ban Meta Audio as an alternative to camera-equipped smart glasses while retaining features such as music playback, phone calls, speech translation and access to its AI assistant.

The company unveiled the Ray-Ban Meta Audio at its Connect 2026 conference on Wednesday. Developed with Meta’s hardware partner EssilorLuxottica, the audio-only glasses will start at $349.

Unlike Meta’s existing AI glasses, the new model does not feature a camera. This allows Meta to build a slimmer device focused primarily on audio, communication and voice-based interactions while addressing privacy concerns associated with wearable cameras.

Meta bets on audio-first AI glasses

The Ray-Ban Meta Audio allows users to listen to music and podcasts, make phone calls, translate speech and interact with Meta’s Muse AI assistant.

Users can communicate with Muse directly through the glasses, providing access to AI-powered assistance without having to take out their phones.

Meta CEO Mark Zuckerberg said the company began exploring whether it could create an entirely new category of glasses built around high-quality audio rather than cameras.

The camera-free approach also responds to concerns over privacy and the potential for people to be recorded without their knowledge or consent.

Camera-free design removes video recording concerns

Meta’s existing AI glasses have faced criticism over the possibility of covert recording, particularly in public spaces where people may not realise they are being filmed.

The company previously introduced measures designed to make recording more difficult when the indicator light on its glasses was tampered with. However, concerns surrounding privacy and camera-equipped AI glasses have persisted.

The Ray-Ban Meta Audio removes the camera entirely, meaning the device cannot be used to record video.

Instead, Meta is positioning the new glasses around listening, communication and AI-powered interactions.

Lighter design and longer battery life

Without cameras and the additional hardware required for video recording, the Ray-Ban Meta Audio weighs 43 grams.

Meta says the glasses can deliver up to 12 hours of battery life on a single charge, while the accompanying charging case extends total battery life to as much as 48 hours.

The glasses also feature adjustable temple tips, swappable nose pads and overextension hinges.

They will be available in 23 colour and lens combinations, including two new frame styles.

The retro-inspired Clubmaster design offers a classic Ray-Ban appearance, while the Burbank features a more traditional rectangular frame.

Like Meta’s other smart glasses, the new model can also be ordered with prescription lenses.

Pre-orders will open on October 13.

Meta unveils new camera-equipped AI glasses

Alongside the camera-free Ray-Ban Meta Audio, Meta announced its next-generation Ray-Ban Meta Gen 3 glasses.

The new range retains cameras and introduces two additional frame styles, the Aviator and Zena, alongside the existing Wayfarer design.

The glasses feature a 12MP camera capable of recording 3K Ultra HD video, a six-microphone array and up to nine hours of battery life.

Meta is also expanding the range of colours and styles available across its AI glasses portfolio.

The company announced a new partnership with singer Lisa, following its earlier collaboration with Kylie Jenner, as it seeks to broaden the consumer appeal of its smart-glasses range.

Meta also plans to introduce its AI glasses to additional markets globally.

Muse becomes central to Meta’s AI glasses strategy

Meta is making its newer Muse AI assistant a central part of its smart-glasses strategy.

Both the camera-free Ray-Ban Meta Audio and the camera-equipped models will provide access to Muse, allowing users to interact with the AI assistant through voice commands.

Meta also teased several upcoming software and accessibility features for its glasses.

These include Dolby Atmos Capture, improved photo selection from multiple frames, landscape and portrait shooting options, hearing enhancements for people with hearing loss, more detailed AI responses and additional audio modes.

Users will also be able to customise controls on the glasses.

Meta is additionally developing a feature called Private Processing, which the company says will prevent it from seeing users’ data while certain AI functions are being processed.

With the Ray-Ban Meta Audio, Meta is expanding its AI glasses strategy beyond cameras and visual features. The company is betting on an audio-first approach that combines AI assistance, smart-glasses functionality and communication while addressing some of the privacy concerns surrounding camera-equipped wearable devices.

10th AFRIMA Set for Lagos in May 2027 as AU Unveils Global Calendar

noreply@blogger.com (BrandArena) — Thu, 24 Sep 2026 14:50:14 +0000

The 10th edition of the All Africa Music Awards (AFRIMA) will take place in Lagos, Nigeria, from May 18 to 23, 2027, with the grand awards ceremony scheduled for May 23.

The African Union (AU) and the International Executive Committee of AFRIMA unveiled the global calendar for the landmark edition at the 10th AFRIMA Creative Industry Roundtable and Global Calendar Unveiling in Beverly Hills, Los Angeles, California, United States.

AFRIMA President and Executive Producer, Mike Dada, announced that entries for the 10th edition will open worldwide on October 11, 2026, and close on January 10, 2027.

According to Dada, the collation and pre-screening of entries will take place from January 11 to 14, followed by adjudication from January 15 to 22. The global announcement of nominees is scheduled for January 29, while public voting will run from February 21 to May 21, 2027.

Eligible creative works must have been produced and released within the official eligibility period, covering August 10, 2025 to January 10, 2027.

Dada also unveiled the international build-up programme, tagged #Road2AFRIMA10Xperience, which will cover London, Windhoek, Cotonou, Nairobi, Accra, Paris, Warri and Port Harcourt.

In Lagos, the AFRIMA 10X Conference, Media Parley and Industry Night will take place on April 14, alongside university activations and concerts scheduled between February and April.

The main AFRIMA events will then run from May 18 to 23, 2027, beginning with the AFRIMA Diamond Showcase and culminating in the grand awards ceremony.

“The journey will culminate in Lagos with the 10th AFRIMA Main Events from May 18 to 23, 2027, and the grand awards ceremony on May 23,” Dada announced.

Speaking on the significance of the milestone, Dada said the 10th edition would celebrate a decade of African musical excellence while strengthening AFRIMA’s contribution to Africa’s creative economy.

“African artistes are filling arenas around the world. African sounds are influencing global culture. But visibility alone is not enough. We must turn visibility into opportunity, opportunity into investment, and investment into sustainable creative industries. Africa must not only export culture; Africa must capture the capital and build wealth from its culture,” he said.

Dada described the global calendar as more than a list of dates, saying it represents “a roadmap for engagement, collaboration, investment and cultural exchange,” bringing together artistes, creatives, investors, policymakers, media and industry leaders.

He added that every stop on the #Road2AFRIMA10Xperience is designed to create new conversations, partnerships, opportunities and pathways for African creativity.

The Los Angeles unveiling represents the latest stage in the build-up to the 10th AFRIMA, following earlier #Road2AFRIMA10Xperience engagements in Dar es Salaam, Tanzania; Abidjan, Côte d’Ivoire; and Rabat and Casablanca, Morocco.

The Los Angeles event attracted personalities from Africa and the United States, including comedian Darryl Vega; actors Razz Adeoti, Bayo Akinfemi and Ozie Nzeribe; digital creator Laurence Brahm; artiste Seyi Brown; producer Septimum; The Africa Channel COO Narendra Reddy; DJ Sly King from Ghana; and renowned Guinness World Record holder, choreographer, dance instructor and fitness coach Kaffy, who also hosted the event.

Award-winning American artiste and producer Septimius The Great delivered the welcome remarks.

“The connection between African artistes and American artistes is more important than ever. We have the talent, the creativity and the stories, but when we build the bridge between Africa and America, we create opportunities that can take our music and our culture to an even bigger global audience.”

Also speaking at the conference, Reddy called for a more sustainable African creative economy where creators receive fair commercial value for their work.

“Creators must make real money from their work, not be used and discarded after their content generates value. Africa’s 54 nations must collaborate and build stronger partnerships with the rest of the world to open markets, attract investment, and take African music and creativity to global audiences,” he said.

Established in 2013 by the International Executive Committee of AFRIMA in partnership with the African Union, AFRIMA has developed into a major platform for celebrating and promoting African music, culture and creative talent globally.

Its broadcast reaches audiences in more than 84 countries, with millions of viewers worldwide.

Oyedele Calls for Affordable Capital to Close Africa’s Infrastructure Gap

noreply@blogger.com (BrandArena) — Thu, 24 Sep 2026 14:48:25 +0000

The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has called for more affordable capital to finance infrastructure development across Africa.

Oyedele made the call at the United Nations Dialogue on Solutions to Climate Finance in New York, held on the margins of the 81st Session of the United Nations General Assembly.

This was contained in a statement issued on Wednesday by the Head, Information and Public Relations of the Ministry, Mrs Efe Ovuakporie.

Oyedele said Africa’s development ambitions, particularly its energy needs, were being constrained by high financing costs, currency risks and limited access to long-term capital.

He noted that Africa’s relatively low contribution to global carbon emissions had not shielded the continent from higher financing costs.

The minister described the situation as a “prejudice premium” and “narrative cost” affecting Africa’s efforts to mobilise funds for critical infrastructure.

He also identified currency risks and what he called “stereotype tax” as additional burdens confronting African countries seeking capital for energy and development projects.

Oyedele urged the international community to adopt simpler and more affordable financing arrangements that reflected the development realities of developing countries.

He also called for increased investment in gas and other transition energy sources, particularly in Africa.

According to him, such investment will expand access to reliable and affordable energy while helping address global energy poverty.

He said increased investment in Africa’s energy sector would also diversify global energy supplies and reduce concentration risks.

Oyedele said such diversification was particularly important amid disruptions affecting the Gulf region.

The minister stressed that Africa’s energy transition must reflect the continent’s significant energy-access deficit.

He said greater investment was needed to enable African countries to meet their development needs while pursuing practical transitions to cleaner energy sources.

For Nigeria, Oyedele said the immediate priority was implementing policies and programmes to reduce poverty and expand economic opportunities.

He said such measures would accelerate the distribution of shared prosperity among Nigerians.

Oyedele said achieving these objectives would require stronger international cooperation and a financing framework supportive of developing countries.

He said such a framework would enable countries to mobilise the capital needed to develop infrastructure and improve citizens’ livelihoods.

Mbappé Leaves Nike for On in Major Move into Football

noreply@blogger.com (BrandArena) — Thu, 24 Sep 2026 14:41:07 +0000

Swiss sportswear brand On has made a major entry into football by signing a boot deal with French star Kylian Mbappé, ending his 20-year partnership with US sportswear giant Nike.

The deal sees Mbappé become a global brand ambassador for On, while working directly with the company’s product teams to develop its football boots and apparel.

Mbappé, widely regarded as one of the world’s leading footballers, has been sponsored by Nike since childhood. Financial terms of his new agreement with On were not disclosed, although The Athletic reports that the deal includes an equity stake in the Swiss company.

Founded in 2010, On is best known for its running shoes but has expanded into other sports, including tennis and padel. The partnership with Mbappé represents a significant step in its broader push into football.

“From the beginning, what drew me to On was the opportunity to build something entirely new together that will help shape tomorrow’s game,” said Mbappé, who ranked 13th in SportsPro’s list of the world’s 50 Most Marketable Athletes in 2025.

“I want to bring my experience and perspective into what we create, push what’s possible through innovation, and always stay true to the joy of football. We have a shared dream, and this is only the beginning.”

Mbappé’s departure is the latest setback for Nike in the highly competitive football sponsorship market. Spanish teenager Lamine Yamal left the brand for German rival Adidas in 2024, although Nike continues to count Norway striker Erling Haaland among its high-profile football ambassadors.

For On, securing Mbappé is a key part of its strategy to establish itself in football. The company has also appointed Thierry Henry as its director of football.

On said the French Fifa World Cup winner and Arsenal legend has been working with the brand since late last year and will now continue to play a role in both product development and athlete relationships.

The company is also expanding its partnership with Barcelona midfielder Sydney Schertenleib, who became the first footballer to partner with On in December as a training and lifestyle ambassador.

The Switzerland international will now collaborate with On on products designed for the women’s game, further supporting the brand’s expansion into football.

The reported decision to give Mbappé equity in On follows a similar approach to the company’s partnership with tennis legend Roger Federer, who invested in On in 2019.

Federer’s involvement helped raise the profile of On and coincided with the beginning of the company’s expansion into tennis. The brand has since added Poland’s Iga Świątek and American Ben Shelton to its roster, alongside endorsement partnerships with athletes across endurance sports and padel.

However, entering the fiercely competitive football market could prove a different challenge.

Nike and Adidas have traditionally dominated the football boot market, competing with brands including Puma, Under Armour and New Balance. Trainer brand Skechers made its most prominent entry into football recently by signing a lifetime deal with England captain Harry Kane.

On will be looking to replicate the rapid growth it has achieved in running, where its technology-focused footwear has helped it gain market share from established sportswear brands.

The partnership with Mbappé gives On a high-profile platform as it seeks to establish its football credentials and develop a new generation of boots and apparel for the global game.

Oando Shareholders Reaffirm Support for Company at 47th AGM

noreply@blogger.com (BrandArena) — Thu, 24 Sep 2026 14:39:41 +0000

Shareholders of Oando PLC have reaffirmed their support for the company’s strategic direction and growth ambitions at its 47th Annual General Meeting (AGM), with all resolutions presented at the meeting passed.

The AGM, held on Thursday, 17 September 2026, provided an opportunity for shareholders to review Oando’s performance, strategic priorities and outlook, while engaging with the Board and Management on the company’s operations and future plans.

Shareholders commended the Board and Management for their approach to corporate governance, strategic direction and disciplined capital allocation, while expressing continued support for the company’s growth ambitions.

Among the resolutions approved were the re-election of Mr Ademola Akinrele, SAN, Mr Omamofe Boyo, Mr Ikeme Osakwe and Mr Adeola Ogunsemi as Directors retiring by rotation.

Shareholders also approved the re-appointment of BDO Professional Services as the company’s external auditors, the election of members of the Statutory Audit Committee and the remuneration of Non-Executive Directors.

The meeting further approved amendments to the company’s Memorandum and Articles of Association to provide for physical, electronic or hybrid general meetings. The amendments also introduce provisions relating to digital assets, cryptographic technologies, distributed ledger technologies and other emerging technologies, subject to applicable laws and regulatory requirements.

Shareholders also authorised the Board to pursue listings on other stock exchanges, including cross-border listings, subject to the necessary regulatory approvals.

A shareholder, Mrs Bisi Bakare, commended the Board and Management for its strategic approach to portfolio development and disciplined capital allocation. She said: “I just want to use this opportunity to congratulate the Board and management for the strategic shift in the mining and infrastructure business from broad-based exploration to a more disciplined asset prioritisation approach. I believe this is a prudent approach, particularly given the need for disciplined capital allocation across the group.”

Speaking on Oando’s outlook, Group Chief Executive, Oando PLC, Mr Jubril Adewale Tinubu, CON, highlighted the importance of operational control and disciplined execution in delivering the company’s growth strategy.

He said: “Operational control gives us execution capacity and creates value. We are focusing on clear accountability and stronger performance management. As we continue our integration, we will allocate capital responsibly, report on time, meet our guidance and commit to our choices.”

Closing the meeting, Chairman of the Board, Mr Ademola Akinrele, SAN, thanked shareholders for their attendance, questions and continued confidence in the Board.

He said: “I thank you all for your attendance today, and I'd like to thank you in particular, shareholders, for the range of your questions, the thoughtfulness of it, the insight of the questions, and the passion and love you've shown for the company, and also the patience and confidence you have reposed on the board.”

9th .ng Awards Open for Public Nominations

noreply@blogger.com (BrandArena) — Thu, 24 Sep 2026 14:28:19 +0000

The Nigeria Internet Registration Association (NiRA) has opened nominations for the 9th .ng Awards, inviting individuals and organisations to nominate businesses, digital initiatives and internet users making an impact through the .ng domain.

The annual awards recognise organisations and individuals using the .ng domain to build businesses, deliver digital services, provide information and contribute to the growth of Nigeria’s internet ecosystem.

The 2026 .ng Awards are designed to spotlight Nigerian businesses, individuals, charities, and public and private sector organisations helping to make the internet more secure, open, accessible and rewarding for users.

NiRA said it believes in the power of the internet and is committed to ensuring that the .ng domain name space has a positive impact on internet users. The association also seeks to recognise initiatives within the ecosystem, encourage public engagement with them and highlight their contribution to Nigeria’s digital development.

The awards are open to any organisation or individual contributing to the growth of Nigeria’s digital space through the use of a .ng domain name.

There will be two broad categories for the 2026 awards: the Presidential Awards and the General Awards.

Award criteria

To qualify for the 2026 .ng Awards, a company, organisation or individual must be registered and conducting business with a .ng domain name. The domain must have been registered for more than 12 months, while the website associated with the domain must be active on the internet.

Other criteria that will be considered include the extent to which the website is up to date, the quality and level of locally produced content, user experience, functionality, relevance and dynamism.

The assessment will consider how easily users can navigate the website, the effectiveness of its features, the accuracy and relevance of information provided, as well as the level of interaction and engagement offered to visitors.

Nomination and selection process

Nominations for the General Awards category are open to the public. Individuals, organisations and institutions that meet the award criteria can submit nominations during the 15-day nomination period.

The .ng Awards committee will review all entries to determine their eligibility and qualification before releasing the final shortlist for public voting through the awards website.

The committee may reclassify or recategorise entries where necessary and may remove submissions that fail to meet the entry requirements. Entries that differ substantially from the award criteria will be disqualified without prior notice to the entrants.

Voting and judging

Voting will be open to the public, with public votes accounting for 40 per cent of the overall score, while votes from the awards committee will account for the remaining 60 per cent.

The voting period will run for 25 days.

Winners will also receive access to .ng Awards icons in various sizes and formats for use on their websites and marketing materials.

2026 .ng Awards categories

The 2026 .ng Awards will recognise achievements across a broad range of sectors and digital initiatives, including:

Company of the Year: Recognises an organisation that has demonstrated excellence in online business innovation, contributed significantly to the Nigerian internet community and achieved notable growth.
Most Innovative Service Provider Online: Recognises an organisation promoting innovative service delivery through the internet.
Best Commercial Banking Website/Portal: Recognises the commercial bank website or portal delivering the best user experience.
Best Insurance Website/Portal: Recognises the insurance company website or portal delivering the best user experience.
Best E-payment Website/Portal: Recognises an e-payment company with a website or portal that delivers an outstanding user experience.
.NG Fintech Company of the Year: Recognises a .ng fintech company providing financial technology solutions with a strong user experience.
Best E-commerce Website/Portal: Recognises an e-commerce website demonstrating creativity, ingenuity, innovation and an outstanding user experience.
Best Website/Portal for Tertiary Institutions, Polytechnics, Colleges of Education and Schools of Nursing: Recognises the institution with the best .edu.ng website or portal, based on currency, local content, usability, relevance to educational services and dynamism.
Best Primary/Secondary School Website/Portal: Recognises the primary or secondary school with the best .sch.ng website or portal based on currency, local content, ease of use, relevance and dynamism.
Startup Company of the Year: Recognises a startup that has operated for less than five years and uses the internet creatively and innovatively to scale its business and improve competitiveness.
Best Local Hosting Company: Recognises the best local website hosting company in Nigeria and aims to encourage the continued growth of the local hosting industry.
Best Technology Hub Website/Portal: Recognises a technology hub that creates innovative infrastructure for ICT skills development while using its website or portal to support entrepreneurs and engage with its local community.
Best Agric Tech Company of the Year: Recognises an agricultural company using technology to improve farming efficiency and profitability.
Digital Innovation in State Government: Recognises a state government that has invested in technology to promote innovation and local content development.
Digital Innovation in Federal Government: Recognises the Federal Government website or portal providing an outstanding user experience.

.NG Media Awards

The .ng Media Award recognises excellence in journalism and other media-related activities, with emphasis on the promotion of local and original content.

The media category comprises four award groups:

Best Print Media Website: Recognises a print media website that delivers high-quality, original content and an exceptional online user experience.
Best Online Media Website: Recognises an online media website demonstrating excellence in providing original, relevant content and an exceptional user experience.
Best Electronic Media Website (Television): Recognises a television media website that demonstrates digital innovation in content and delivers an exceptional online experience.
Best Electronic Media Website (Radio): Recognises a radio media website that delivers original and compelling audio content while enhancing listener experience and online engagement.

The 9th .ng Awards provide an opportunity for Nigerian businesses, organisations, institutions and individuals contributing to the country’s digital ecosystem to gain recognition for their work and impact through the .ng domain.

Dangote’s ₦2.15tn IPO Boosts Nigerian Fintech Customer Acquisition

noreply@blogger.com (BrandArena) — Mon, 21 Sep 2026 16:35:19 +0000

Dangote Petroleum Refinery’s ₦2.15 trillion public share offering is creating a major customer-acquisition opportunity for Nigerian fintech and digital investment platforms.

The refinery is offering 4.1 billion new shares at ₦525 each, with a minimum subscription of 10 shares costing ₦5,250. The offer opened on September 14 and closes on October 13, with trading expected to begin in November.

Platforms including Bamboo, Cowrywise, PiggyVest, Flutterwave, Moniepoint and Paga are among more than 55 approved channels distributing the offer, with several allowing customers to purchase shares without direct transaction fees.

The strategy appears to be less about immediate transaction revenue and more about acquiring customers who could continue using their investment, savings and financial services after the IPO.

Bamboo provides an indication of the scale of the opportunity. The investment platform told TechCabal it added more than 236,000 new accounts in the week before the offer, with about 152,000, or 64 per cent, funded and trading within the same week.

The surge in demand also caused heavy traffic on some platforms. Reuters reported that Bamboo’s traffic increased tenfold within 30 minutes of the IPO launch.

Nigeria experienced a similar digital investment surge during MTN Nigeria’s 2021 public offer, when more than 89 per cent of retail subscribers applied through the PrimaryOffer platform and 114,938 new Central Securities Clearing System accounts were opened by first-time investors.

The Dangote offer, however, is being distributed through a broader network of digital and traditional channels, potentially giving fintechs access to a much larger pool of new customers.

For the platforms, the key question will be whether investors acquired through the IPO remain active after the offer closes.

The number of customers who make subsequent investments, use other financial products and generate recurring revenue will ultimately determine the longer-term commercial value of the Dangote IPO for Nigeria’s fintech sector.

AU, AFRIMA Unveil Global Calendar for 10th AFRIMA Edition in Los Angeles

noreply@blogger.com (BrandArena) — Mon, 21 Sep 2026 16:20:31 +0000

The All Africa Music Awards (AFRIMA), in partnership with the African Union (AU), has unveiled the official global calendar for its landmark 10th edition in Los Angeles, California, as the continental music awards platform continues preparations for its milestone anniversary.

The unveiling, organised by the AFRIMA International Executive Committee in partnership with the AU, took place on Sunday, September 20, 2026, in Beverly Hills, Los Angeles.

The event brought together creative industry leaders, artistes, actors, investors, policymakers, media executives and members of the African diaspora, with the announcement of the 10th AFRIMA global calendar serving as the main highlight.

The Los Angeles engagement featured the AFRIMA Creative Industry Roundtable and Stakeholders Conference, themed “Catalyst for Collaboration & Investment in the Global Creative Industry.”

The Los Angeles event marked another stage in AFRIMA’s efforts to connect African music and talent with international audiences. AFRIMA is broadcast in more than 84 countries, reaching millions of viewers worldwide.

The build-up to the 10th edition has already taken AFRIMA to major African creative and cultural centres. Earlier in the year, engagements under the RoadTo10thAFRIMA campaign were held in Dar es Salaam, Tanzania; Abidjan, Cote d’Ivoire; and Rabat and Casablanca, Morocco.

The engagements brought together industry stakeholders and generated momentum ahead of the landmark edition. The Los Angeles event is therefore part of a broader continental and global programme through which AFRIMA has engaged different regions, music markets and creative communities in preparation for its 10th edition.

The unveiling of AFRIMA’s global calendar in different African cities has become an important feature of the awards platform’s development. Previous unveilings have taken place in The Gambia, Ghana, South Africa, Dakar, Senegal, Lagos, Nigeria, and at the African Union Headquarters in Addis Ababa, Ethiopia.

The engagements provided opportunities for AFRIMA to announce its plans, meet government representatives, engage music industry stakeholders and strengthen relationships with creative communities across the continent.

AFRIMA’s main awards ceremonies have also been hosted in major African cities, including Lagos, Nigeria; Accra, Ghana; and Dakar, Senegal, reflecting the platform’s pan-African character and its stated commitment to promoting African music globally.

The move to Los Angeles is significant given the city’s position as a major global entertainment and creative centre, as well as the presence of a large and influential African diaspora community.

Speaking ahead of the event, Associate Co-Producer, AFRIMA and Member, International Jury of AFRIMA representing North America, Ms. Hadja Kobele, said the Los Angeles engagement would help strengthen the relationship between African music and the diaspora.

“The 10th AFRIMA Global Calendar Unveiling in Los Angeles is an important moment for the African creative ecosystem and the African diaspora. Los Angeles is a global centre for entertainment, and bringing AFRIMA here creates an opportunity to build stronger bridges between African creatives, industry professionals, investors and the diaspora community.

“The African diaspora in North America has an important role to play in promoting African music, opening new markets and creating opportunities for collaboration. This engagement will help deepen that relationship and give African creativity greater visibility on the global stage.”

Speaking on the stakeholders’ conference, Associate Producer, AFRIMA, Ms. Victoria Nkong, said the engagement would extend beyond the calendar unveiling by creating opportunities for practical discussions and partnerships to support the creative industry.

“The creative industry is one of Africa’s strongest assets, but its full potential can only be achieved when we create the right platforms for collaboration, investment and shared knowledge. The Los Angeles conference is designed to bring together the right people and institutions to discuss practical ways of building stronger connections between Africa and the global creative economy.

“As we unveil the calendar for the 10th AFRIMA, we are also opening conversations about the future of the industry, the opportunities available to investors and the partnerships needed to create sustainable growth for artistes, businesses and creative professionals.”

The official global calendar unveiling is expected to give stakeholders, artistes, nominees, partners and fans greater clarity on the activities and key milestones leading up to the 10th AFRIMA Main Awards ceremonies.

Verto Launches Multi-Currency Corporate Card in Partnership with Visa

noreply@blogger.com (BrandArena) — Mon, 21 Sep 2026 16:04:01 +0000

Verto, a B2B global payments platform, has launched a new multi-currency corporate card in partnership with Visa, aimed at helping African businesses simplify international transactions and reduce foreign exchange costs.

The Verto Card, which is available to customers worldwide, allows businesses to fund, spend and settle payments across multiple currencies, with zero FX markups on eligible currencies. The company said the product is designed to give businesses greater control and efficiency as they expand their operations globally.

For years, African businesses operating internationally have faced challenges with corporate cards linked to a single settlement currency, often resulting in hidden FX costs, rejected payments and lost revenue. Verto said its new corporate card addresses these challenges by using Visa’s commercial payment infrastructure to provide guaranteed payment acceptance rates across 11 currencies, alongside indirect access to more than 160 additional currencies.

Linked directly to Verto wallets and accepted by 150 million merchants globally, the cards allow customers to transact automatically in US Dollar (USD), Euro (EUR), Japanese Yen (JPY), Pound Sterling (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), Australian Dollar (AUD), New Zealand Dollar (NZD), Norwegian Krone (NOK) and Swedish Krona (SEK).

Customers do not need to manually transfer funds between wallets or pay additional penalties for international transactions. For African SMEs, importers, SaaS businesses and digital media buyers, Verto said the card enables them to transact more easily in foreign markets while avoiding hidden FX costs and some of the payment failures associated with prepaid cards.

"African businesses have been underserved by the card products that exist today. They are either locked into a single currency, hit by undisclosed fees, or declined at checkout because their card runs on prepaid rails”, said Ola Oyetayo, CEO and Co-founder of Verto. “This new partnership with Visa reshapes corporate cards for international businesses, moving beyond the limitations of traditional banking and prepaid card structures, and expanding what is possible for global business transactions” he continued.

Security and spending controls are also integrated into the Verto Card. Sensitive card data is retained within Verto’s platform, while transactions are authenticated through 3D Secure verification using a one-time passcode or in-app confirmation.

Businesses can also apply controls based on date, time and merchant category, giving them greater oversight of how corporate cards are used and helping to manage company spending.

“The future of business payments lies in solutions that combine global connectivity with local innovation,” said Shahebaz Khan, SVP and Head of Commercial & Money Movement, Visa. “Through our partnership with Verto, we are expanding access to modern payment capabilities that help businesses move money more efficiently, while enabling fintechs and financial institutions to deliver new value to their customers.”

Verto said it plans to further expand the platform with mobile wallet integration through Google Pay and a Cards-as-a-Service (CaaS) offering through its Atlas infrastructure.

The planned CaaS service will enable fintechs and banks to embed card issuance directly into their own platforms through a white-label arrangement, backed by Verto’s licensing and Visa’s payment network.

Celine and Reebok Launch $750 Freestyle Lo Collaboration

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 20:58:21 +0000

Celine and Reebok have officially released their highly anticipated eight-shoe collaboration, with the deconstructed Reebok Freestyle Lo collection now available for $750 per pair.

The collaboration, which made its runway debut in June, has quickly emerged as one of the standout footwear releases around New York Fashion Week. However, some sizes are already beginning to sell out following the collection’s launch.

The project reimagines the Reebok Freestyle Lo, an ’80s fitness sneaker with a similar aesthetic appeal to the popular Club C. For the collaboration, Celine has given the classic silhouette a looser, deconstructed upper that reflects the current direction of high-fashion footwear.

The design retains the sneaker’s relatively simple panel construction, while removing Reebok’s traditional side motifs. Celine instead adds its own branding to the tongue tag and backtab, giving the iconic sneaker a distinctly luxury-focused finish.

Celine marked the launch with a New York Fashion Week event in the city earlier this week, where six of the collection’s colourways were showcased.

The Celine x Reebok Freestyle Lo collection is now available through Celine’s website for $750 in women’s sizes. The eight colourways are Optic White, Beige, Peanut, Butter, Dark Brown, Fluo Red, Oxblood and Black.

Afreximbank, TopTier Sports Management Unveil Legends Football Match for CANEX WKND 2026

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 20:36:35 +0000

The African Export-Import Bank (Afreximbank), through its Creative Africa Nexus (CANEX) programme, and TopTier Sports Management, What Media Group, have announced plans for a landmark Legends Football Match as a major event at CANEX WKND 2026 in Lagos, Nigeria.

The Legends Football Match, scheduled for 8 November 2026 at Onikan Stadium, Lagos, will bring together football icons from Africa and beyond to celebrate the 30th anniversary of the legendary mid-1990s Super Eagles squad.

The event will commemorate the team's historic achievements, including its 1994 Africa Cup of Nations (AFCON) triumph, 1994 FIFA World Cup campaign and defining 1996 Olympic gold medal victory in Atlanta.

As part of CANEX WKND 2026, Afreximbank's flagship platform for advancing Africa's creative and cultural industries, the match will highlight the growing connection between sport, entertainment and the wider creative economy.

The event is expected to attract football fans, members of the creative community and the wider public, alongside local and international media.

Speaking during the press conference, Temwa Gondwe, Director of Creatives and Diaspora at Afreximbank said: "The 1996 Super Eagles did more than win Olympic gold; they re-wrote the global narrative, proving to the world that African talent is an unstoppable force. Today, the intersection of sports, entertainment, and culture is the heartbeat of Africa's creative economy. The Legends Game is more than a celebration of our glorious past – it is a strategic and formidable platform to discuss the future commercialisation and empowerment of African athletes and creatives globally."

Chichi Nwoko, Founder and CEO of TopTier Sports Management, What Media Group, responsible for the planning and execution of the Legends Football Games, said: "Thirty years ago, a generation of Nigerian footballers showed the world what African talent was capable of. The Legends Football Game is our way of saying thank you to them, and our chance to ask harder questions: what are we building for this generation and the next? We want to build the infrastructure that lets African athletes turn a playing career into a lasting one, on and off the field; this is a huge gap that must be addressed. That's what this partnership with Afreximbank seeks to achieve."

The Legends Football Match will also support the broader objectives of CANEX WKND 2026 by helping position Lagos as a leading destination for Africa's creative industries.

The event is expected to demonstrate how major sporting, cultural and entertainment events can stimulate economic activity, tourism, investment and international engagement, while creating new opportunities for African athletes and creatives.

Microsoft to unveil Windows and Surface innovations at October 7 event

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 20:28:53 +0000

Microsoft is set to host a major hardware and software event in San Francisco on October 7, marking its first major ecosystem showcase in more than two years.

The event will focus on how local artificial intelligence will shape the next generation of personal computers, with Microsoft expected to provide fresh details about Windows, Surface and NVIDIA-powered devices.

The event comes just months after NVIDIA unveiled its first system-on-a-chip (SoC) for Windows, the NVIDIA RTX Spark, and is widely expected to provide the official launch platform for the long-teased Surface Laptop Ultra.

Microsoft and NVIDIA CEOs to share stage

The strategic importance of the event will be underscored by a rare joint appearance from the chief executives of Microsoft and NVIDIA.

Microsoft CEO Satya Nadella and NVIDIA CEO Jensen Huang will share the stage with Pavan Davuluri, Microsoft's Executive Vice President of Windows and Devices.

According to Microsoft, the trio will discuss the “latest innovations across Windows, NVIDIA RTX Spark, Surface, and the broader PC ecosystem,” highlighting the companies' closely integrated vision for the future of personal computing.

Surface Laptop Ultra expected to take centre stage

Much of the attention is expected to centre on the Surface Laptop Ultra. Microsoft first announced the device in June 2026, showcasing its ambitions while withholding key details including pricing, full specifications and a release date.

The October 7 event could provide the opportunity for Microsoft to reveal those details and outline its plans for bringing the device to market.

Powered by the NVIDIA RTX Spark, the Surface Laptop Ultra represents a significant architectural shift for Windows PCs. The device combines NVIDIA's graphics and AI processing capabilities with an efficient SoC design intended to handle demanding AI workloads locally.

The approach could reduce reliance on cloud-based processing while addressing concerns around latency and data privacy associated with cloud-dependent AI applications.

Other PC manufacturers have also teased laptops powered by the RTX Spark, but pricing and availability across the wider ecosystem remain unclear. Microsoft's event could therefore provide important details about the rollout of RTX Spark-powered PCs.

Microsoft and NVIDIA target a new era of local AI

At the centre of the Microsoft-NVIDIA partnership is a shared vision of PCs becoming capable of handling increasingly sophisticated AI tasks without constantly relying on remote cloud servers.

The concept is to give users access to powerful AI models running directly on their computers, enabling AI agents to perform a wider range of tasks locally.

Microsoft has already provided glimpses of this approach through its experimental Project Solara devices. The Surface Laptop Ultra, powered by the local processing capabilities of the RTX Spark, could represent a commercial step towards that vision.

Rather than functioning solely as a chatbot, local AI could become an integrated background co-pilot capable of supporting complex workflows, processing data and handling routine computing tasks directly on the user's device.

Global Leaders to Converge in New York for Unstoppable Africa 2026

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 20:26:39 +0000

Some of the world’s most influential political and business leaders will gather in New York next week for Unstoppable Africa 2026, the flagship annual event of the Global Africa Business Initiative (GABI).

The event will bring together prominent figures shaping Africa’s economic future, including Aliko Dangote, President & CEO of Dangote Group; Massad Boulos, Senior Advisor to the President of the United States on Arab and African Affairs; UN Secretary-General António Guterres; H.E. John Dramani Mahama, President of the Republic of Ghana; H.E. Netumbo Nandi-Ndaitwah, President of the Republic of Namibia; H.E. Duma Gideon Boko, President of the Republic of Botswana; and H.E. Mahmoud Ali Youssouf, Chairperson of the African Union Commission.

The gathering comes as global trade routes are being redrawn, competition for critical minerals intensifies, and businesses reassess where future growth and investment opportunities will emerge.

African economies are entering a new growth trajectory as investment, industrialisation and expanding markets create opportunities for greater value creation across the continent. Africa holds some of the world’s most crucial minerals, abundant renewable energy potential, a fast-growing consumer market and the world’s youngest population.

However, the challenge remains to develop the infrastructure, capital and market links African businesses need to operate and expand across borders. Full implementation of the African Continental Free Trade Area could create a $3.4 trillion market, according to UNCTAD’s 2024 Economic Development in Africa report.

Unstoppable Africa 2026 will take place on September 20-21 at the New York Marriott Marquis, ahead of the opening of the 81st session of the United Nations General Assembly.

The fifth edition will bring together heads of state, global business leaders, investors, entrepreneurs, creatives and policymakers under the theme, “Powering Business, Scaling Economies, Shaping the Future”.

The forum will focus on Africa’s value from its resources, markets, businesses and people, while highlighting the investments and partnerships required to translate the continent’s economic potential into thriving businesses and resilient economies.

The event will centre on five key themes: trade, energy, digital transformation, creative industries and sport.

Notable participants from global finance and business include Samaila Zubairu, President and CEO of African Finance Corporation; Tidjane Thiam, General Partner of Allied Critical Minerals Fund; Mandy DeFilippo, CEO of Americas, Europe, Middle East and Africa at Standard Chartered; Nonkululeko Nyembezi, Chairperson of Standard Bank Group; Nolitha Fakude, Chairperson of Anglo American South Africa; Phuthi Mahanyele-Dabengwa, CEO of Naspers and Group Executive Director of Prosus; and Olugbenga Agboola, CEO of Flutterwave.

Senior business and finance leaders attending the event include Stephanie von Friedeburg, Managing Director, Public Sector Banking at Citi; Dr James Mwangi, Group Managing Director and CEO of Equity Group Holdings; Alain Ebobisse, CEO of Africa50; and Aminu Umar-Sadiq, Managing Director and CEO of the Nigeria Sovereign Investment Authority.

Technology, innovation and policy voices will include Dr David Moinina Sengeh, Chief Minister and Chief Innovation Officer of Sierra Leone, and Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All.

The forum will also spotlight Africa’s creative and sports industries, with participants including Cameron Bailey, CEO of TIFF; filmmaker Wanuri Kahiu; Clare Akamanzi, CEO of NBA Africa; and Chiney Ogwumike, WNBA All-Star.

African innovators and entrepreneurs expected to feature at the event include Luol Deng, former NBA All-Star and President of the South Sudan Basketball Federation; Elly Savatia, Founder and CEO of Signvrse; and Norah Magero, Co-Founder and CEO of Drop Access Limited.

GABI, convened by the United Nations Global Compact, brings together African and global private sector leaders, governments and investors to drive investment into Africa. It is linked to the UN Global Compact and the African Union Commission.

Since its launch, GABI has developed into a major platform for business leadership focused on Africa’s economic development. Unstoppable Africa 2025 attracted more than 6,000 participants, including heads of state, CEOs and development finance leaders from across Africa.

The 2026 edition builds on that momentum by bringing decision-makers together to explore investment, partnerships and opportunities to accelerate the growth of African businesses.

Burna Boy to Headline Halftime Show at 2026 NFL Paris Game

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 20:20:31 +0000

GRAMMY Award-winning Nigerian artist Burna Boy will headline the halftime show at the 2026 National Football League (NFL) Paris Game between the Pittsburgh Steelers and New Orleans Saints on Sunday, October 25.

The game will take place at 2:30 p.m. CEST (9:30 a.m. ET) at Stade de France, with Burna Boy's performance forming part of a record seven halftime shows planned across the NFL's 2026 International Games.

The performances will span seven countries and four continents as the NFL stages its biggest international season to date, with more international games being played in a single season than ever before.

One of the defining voices of African music worldwide, Burna Boy has taken Afro-fusion from Nigeria to some of the world's biggest stages. The GRAMMY Award-winning artist has received 13 nominations, became the first African artist to perform on the main GRAMMY Awards telecast and, in April 2025, became the first African artist to headline Stade de France.

“Paris gave me one of the biggest nights of my career, and to walk back into Stade de France for a moment like this means everything,” said Burna Boy. “The NFL is bringing something to France that has never happened here before, and I get to stand in the middle of it representing African music and I intend to give the people a show they will not forget.”

“The first NFL game in France deserves a halftime moment that matches the occasion, and there is no artist better suited to it than Burna Boy,” said Tim Tubito, senior director of global game presentation, music and entertainment at the NFL. “Paris is one of the great cultural capitals of the world, and African music sits right at the heart of what the city listens to. Burna Boy has already made history in this stadium, and bringing him back to perform in front of a global audience gives us the chance to create something genuinely memorable. We look forward to collaborating with him on a performance that captures the energy that matches the moment.”

The 2026 NFL Paris Game, presented by American Express, will be the first regular-season NFL game played in France. It is being staged in partnership with GL events and with the support of the French Ministry of Sports.

Burna Boy's full halftime performance will be broadcast live in France free-to-air on France Télévisions and on beIN Sports, while L'Équipe will broadcast the game later the same evening.

The NFL said it remains committed to growing the game at every level across France, engaging fans throughout the year through partners, programmes and initiatives. Further details about entertainment and fan events surrounding the 2026 NFL Paris Game will be announced in due course.

Burna Boy joins an international lineup of previously announced halftime performers for the 2026 NFL International Games. The Jonas Brothers will perform at the NFL Melbourne Game on Thursday, September 10 at the Melbourne Cricket Ground; Pedro Sampaio and Ricky Martin will take the stage at the NFL Rio Game on Sunday, September 27 at Maracanã Stadium; Ayra Starr will perform at the NFL London Game on Sunday, October 11 at Tottenham Hotspur Stadium; Cage The Elephant will headline the NFL Munich Game on Sunday, November 15 at FC Bayern Munich Arena; and The Warning will perform at the NFL Mexico City Game on Sunday, November 22 at Estadio Banorte.

The 2026 NFL International Games will also include two games in London at Tottenham Hotspur Stadium and one at Wembley Stadium, alongside fixtures in Madrid, Melbourne, Mexico City, Munich, Paris and Rio de Janeiro.

The NFL has played 62 regular-season games outside the United States, with London, Berlin, Munich, Frankfurt, Madrid, Dublin, São Paulo, Mexico City and Toronto having hosted games to date.

The 2026 international schedule marks the introduction of three new markets for the NFL: Melbourne, Paris and Rio de Janeiro.

Ticket information for the 2026 NFL Paris Game is available through the NFL's official channels.

Award-winning creative ideas more than double campaign effectiveness, WARC analysis finds

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 20:14:43 +0000

Award-winning creative ideas are more than twice as likely to deliver effectiveness when they achieve high levels of creative recognition, according to new analysis by global marketing intelligence organisation WARC.

The fifth edition of WARC’s The Health of Creativity 2026 report found that 21% of ideas recognised for creativity in award shows tracked by the WARC Rankings were subsequently awarded for effectiveness.

However, among highly awarded creative ideas that made it into the WARC Creative 100, the conversion rate to effectiveness more than doubled to 45%, up from 44% last year.

The latest findings are based on 11 years of WARC Rankings data covering award show results between 2015 and 2025. A total of 6,360 ideas were analysed to examine the relationship between creativity and effectiveness, as well as the characteristics of high-performing campaigns and creative conversion across sectors, brands and agency networks.

Amy Rodgers, Head of Content, WARC Creative, says: “Mounting evidence demonstrates how creativity plays a crucial role in driving campaign success. Drawing on findings from 11 years' worth of WARC Rankings data, we examined whether campaigns recognised for creative excellence have sustained or strengthened their performance edge compared to last year's findings and what are the current shared characteristics that define the most creative and effective ideas.”

Creativity and effectiveness remain closely linked

More than one in five (21%) ideas awarded for creativity in shows tracked by the WARC Rankings were subsequently recognised for effectiveness, maintaining the same conversion rate as last year.

For ideas achieving the highest levels of creative recognition, however, the conversion rate more than doubled, reaching 45%.

“Should the 21% conversion rate be higher?” asks Rodgers. “Perhaps not, when viewed in the context of all the advertising produced. Winning both a creative and an effective award for the same campaign is hard. Factors include the current shift away from brand building to performance, brand size, and resources to measure effectiveness and prepare for strong award entries.”

WARC’s analysis of 167 best-of-the-best ideas, which ranked in both the WARC Creative 100 and Effective 100 between 2016 and 2026, identified several common characteristics among highly creative and highly effective campaigns.

TV's role declines as brands use wider channel mixes

Television remains a powerful medium for emotional storytelling and reaching large, engaged audiences, but its role as the lead channel among top-performing campaigns is declining.

In 2025, 25% of best-in-class ideas led with television, compared with 44% in 2018.

WARC said television continues to play an important role in strategies built around emotion and storytelling, which can help encode marketing messages in memory.

However, the data suggests that no single channel has replaced television as the dominant lead medium. Instead, the lead role is increasingly distributed across a broader mix of channels.

Brand building remains a key objective

Brand building continues to dominate among highly creative and effective campaigns.

Overall, 85% of campaigns analysed aimed to build brands, rising slightly to 88% among highly creative and effective ideas.

WARC said strong brands can support growth and premium pricing through sustained investment in long-term brand equity. This requires consistent delivery of the brand promise across product performance, advertising and pricing, alongside efforts to strengthen awareness and equity.

Social justice, partnerships and emotion feature strongly

The analysis found that the best-performing creative ideas often extend beyond conventional customer-focused marketing.

Nearly half (49%) of highly creative and highly effective ideas significantly over-indexed in their use of social justice issues, including corporate social responsibility, advocacy and brand activism.

Customer experience featured in 42% of top ideas, while strategic partnerships were used by 40%.

According to WARC, the findings indicate that some of the strongest campaigns engage with wider societal issues and audiences rather than focusing solely on traditional customer-facing tactics.

Top creative ideas drive sales and customer growth

Creative effectiveness also translated into measurable commercial outcomes.

Almost two-thirds (61%) of the best-performing ideas had a measurable impact on sales, while almost half affected market penetration.

ROI and revenue also significantly over-indexed in award-winning work, while behavioural change emerged as a distinctive metric among top-performing campaigns.

The findings suggest that leading campaigns combine long-term brand-building objectives with efforts to influence consumer behaviour and generate wider commercial impact.

PR value and fame matter for top campaigns

PR value was measured by 70% of highly creative and highly effective ideas, more than double the 27% recorded across all cases.

The finding highlights the role of fame and earned attention in successful campaigns. Best-of-the-best ideas also over-indexed on other soft metrics, including social media buzz, brand health and search.

Highly creative campaigns tend to run for longer

The strongest creative and effective campaigns also tend to have longer durations.

More than a third (37%) of award-winning campaigns ran for at least a year, compared with 15% of typical cases.

WARC said the finding aligns with research suggesting that highly creative campaigns can build emotional resonance and generate lasting impact, while less creative campaigns are more likely to focus on short-term results.

Retail leads creative effectiveness

Retail accounted for 20% of the 167 most creative and effective ideas, despite representing only 13% of all cases analysed.

Food followed with 10%, while technology and electronics, toiletries and cosmetics, and financial services each accounted for 8%.

Higher creative commitment linked to effectiveness

The report also found a strong relationship between creative commitment and campaign effectiveness.

Creative commitment is a composite measure covering media budget, campaign duration and the number of media channels used for a creative campaign or initiative.

As creative commitment increases, so does effectiveness across measures including sales, brand building, market share and profit.

Ideas ranked in both the WARC Creative 100 and Effective 100 recorded an average creative commitment score of 7.0, compared with 6.0 across the full WARC Rankings dataset. WARC noted that the figures are not a reflection of brand size.

Agency networks show differing creative conversion rates

Among creatively awarded ideas, Ogilvy leads with a total tally of 575, adding 84 this year.

BBDO has the highest number of creatively awarded ideas that converted to effectiveness, with 137, while VML recorded the strongest growth, adding 27 converted ideas.

By conversion rate, Saatchi & Saatchi leads agency networks with 32% of its creatively awarded ideas also receiving an effectiveness award. The rate rises to 44% among its highly creative ideas.

The data reflects agency networks as credited at the time of award, including agencies that have since been acquired, merged or rebranded.

Now in its fifth year, The Health of Creativity 2026 also examines creative conversion by category, brand and agency network, alongside the full list of 167 best-of-the-best ideas.

Lagos State Deputy Governor to Address Podcasters, Creators and Youth at PodFest Naija 2026

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 19:52:27 +0000

Lagos State Deputy Governor, Dr. Kadri Obafemi Hamzat, is set to deliver the keynote address at PodFest Naija 2026, a festival celebrating the power of stories and the growing influence of Nigeria's creative economy.

The festival, themed A Festival of Stories, will take place on September 25, 2026, at Harbour Point, Victoria Island, Lagos, bringing together podcasters, content creators, storytellers, industry leaders and young talents from across the country.

An engineer with substantial experience in technology and business, Hamzat's address will focus on creativity, technology, culture and the future of the people of Lagos.

His participation highlights the growing recognition of storytelling and content creation as important components of Lagos' creative economy. As Nigeria's commercial and cultural capital, Lagos has become a major hub for music, film, fashion, comedy and digital content.

Hamzat will join an impressive lineup of storytellers, creators and brands at the festival, including box office queen Funke Akindele, Aproko Doctor, Rufai Oseni, Rolake Akinkugbe
-Filani, Babajide Ogunsanwo, Duke of Shomolu, Audu Maikori, Tosin Olaseinde, Fisayo Soyombo, Grace Ofure, Masoyinbo, Salem King, Dr Foy, Toolz and William Benson, among others.

PodFest Naija was created as a convergence point for Nigeria's storytelling ecosystem, providing a platform to celebrate creativity, foster collaboration, showcase innovation and create opportunities for learning among storytellers.

Following the success of its debut edition, this year's festival will feature a wider lineup of storytellers, live podcasts, masterclasses, talent discovery sessions and an experiential arena. The 2026 edition will also see government joining the growing list of brands and organisations supporting the festival.

“Lagos creates culture that Nigeria and Africa export to the world: music, film, fashion, comedy, Art and increasingly storytelling itself are economic assets; so having the Deputy Governor speak directly to our storytellers is a turning point for this festival,” said Tosin Adefeko, Curator of PodFest Naija and Chief Executive Officer of AT3 Resources – The Muvmnt Agency.

“This is government affirming that this is an environment where creators can build sustainable businesses. This changes what this festival means for every young person walking into Harbour Point on September 25.”

PodFest Naija 2026 is backed by Eventful, Dashboard, The Place, Yolly, MTN, DNIL, Afrinvest, Page International Finance Company, Lebara and Sahara Foundation.

FMCG partners include UAC, Coca-Cola, Crown Flour Pasta, Beloxxi, Fan Milk and Eve Essentials.

The festival's media and creative partners include Optimum Exposures, Next Phase Vision Limited, Nimbus Media, Bella Naija, OSG Media, The Cable, Nairametrics, MediaRoomHub, Live with Lynda, Newscentral, City FM, Citizen FM 97.1, VOP 90.3FM, Radio Jusmen, Glazia Magazine, GAH Media, Naijapreneur and Nevon.

PodFest Naija 2026 will hold at Harbour Point, Victoria Island, Lagos, on September 25, bringing together some of Nigeria's leading voices in storytelling, media and the creative economy.

Emirates enters winter season with strong bookings as fleet and network expansion accelerates

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 19:46:03 +0000

Emirates is entering the winter travel season with strong booking momentum after exceeding expectations during the summer, as the airline accelerates investment in its fleet, global network and onboard products.

The airline carried more than 8.6 million passengers between July and August, maintaining healthy seat load factors across its network. Emirates is currently operating at around 93% of its pre-disruption capacity, with demand continuing to strengthen ahead of the winter travel season.

Bookings for winter, which begins in late October, are tracking positively despite a broader trend towards customers making travel decisions closer to departure. South Africa, Brazil, India, Portugal, Egypt, Ghana, Colombia, Saudi Arabia and Pakistan are among the markets where demand is currently ahead of last year. Nepal is also recording strong demand through Emirates' partnership with flydubai.

The UAE remains a strong outbound market, while demand for premium travel on Emirates continues to grow.

Strong summer demand

Emirates services to and from West Asia, Europe, the Middle East, the Americas and Africa recorded seat load factors well above 75% during the summer. Routes to and from Indonesia, Côte d'Ivoire and across the UK delivered particularly strong performances.

Demand for Premium Economy also increased across the network, with the Americas recording the strongest growth in demand for the cabin.

Dubai continued to attract strong inbound traffic. In late August alone, more than half a million customers arrived in Dubai on Emirates flights, representing a 7% increase on the same period last year.

Travellers included residents returning ahead of the new school year, new residents relocating to Dubai to live and work, and visitors choosing the city for a late-summer break.

During the summer, Emirates expanded its flexibility offering by introducing one free date change anywhere across its network and unlimited free date changes to Dubai. The airline also reduced refund fees on journeys to Dubai and introduced Comprehensive Travel Cover.

The policy includes medical cover against conflict and airspace disruption, supported by airline-managed accommodation, ground support and rebooking where required.

Emirates accelerates fleet upgrades and product investment

Emirates has welcomed 18 aircraft since January 2026, comprising 11 new A350s and seven Boeing 777 freighters. A further six A350s are scheduled to arrive before the end of December.

The airline's retrofit programme has so far been completed on 104 aircraft, including 53 Boeing 777s and 51 A380s. This has increased the number of aircraft offering Premium Economy and Emirates' latest cabin products to 137.

That figure is expected to rise to 155 aircraft by the end of December.

The expanding product footprint means more customers will have access to Emirates' latest cabins. Premium Economy is now available on services to 90 destinations, with a further six destinations scheduled to receive the product before the end of the year, including Paris, Delhi and Stockholm.

Emirates is also upgrading connectivity across its fleet. Close to 50 aircraft are now fitted with Starlink, with installations continuing alongside the retrofit programme to provide high-speed inflight internet to more passengers.

The airline has also introduced several new onboard products this year, including U-dream headrests on its A350 Economy Class, the industry's first Premium Economy seat with privacy dividers, and its next-generation signature lounges.

New lounge facilities are already welcoming customers in Munich, Frankfurt and Manchester.

Emirates expands destinations, frequencies and connectivity

Emirates' network will continue to expand as the airline enters the winter season, with new destinations, additional frequencies and more of its latest aircraft being deployed across key markets.

Helsinki will join the Emirates network on 1 October, with the route launching with the A350. The aircraft currently serves 30 destinations from Dubai, a figure that will increase to 36 by the end of the year.

The airline is also adding capacity on several routes in response to demand. Accra, Tokyo Narita, Ho Chi Minh City and Hanoi will receive second daily services, while one of Emirates' daily Delhi services will be upgraded to an A380.

The Emirates A350 will be deployed to Larnaca, Malta, Nairobi and Hamburg from late October, followed by Mauritius in November. Retrofitted Boeing 777 aircraft will be introduced on services to Stockholm in October and Frankfurt in November, extending Emirates' latest onboard products to more destinations.

Beyond its own network, Emirates' 168 codeshare, interline and intermodal partnerships provide customers with access to an additional 1,750 cities.

On an average day, more than 13,000 Emirates customers connect to their destinations on services operated by partner airlines.

The Emirates and flydubai partnership has become a key part of the Dubai hub experience. Together, the two carriers provide access to more than 214 unique destinations across more than 100 countries, generating more than 4,600 connection opportunities through Dubai.

Emirates customers can reach more than 100 flydubai destinations, while flydubai passengers can access more than 140 Emirates destinations. Kathmandu, Zanzibar, Krabi and Belgrade are among the most popular flydubai destinations for Emirates customers.

Since the partnership was launched in 2017, the two airlines have carried more than 28 million passengers across their integrated network.

Ahead of Emirates' Helsinki launch, flydubai expanded its network in 2026 with the addition of Chittagong in Bangladesh in April, Benghazi in Libya in June, and Aleppo in Syria and Bangkok's Don Mueang Airport in July.

Further expansion in September includes Pokhara in Nepal.

Terrahex Secures First ASIC Fleet Ahead of Nigeria Launch

noreply@blogger.com (BrandArena) — Thu, 17 Sep 2026 19:38:22 +0000

Terrahex, a company developing modular high-performance computing infrastructure in frontier energy markets, has received its second shipment of application-specific integrated circuits (ASICs) at its US processing hub, with the first batch ready for shipment to Nigeria ahead of its December 2026 go-live target.

The shipment forms part of Terrahex’s initial ASIC fleet for its first 9MW node in southern Nigeria, marking the project’s move into its next deployment phase. The company is preparing the fleet at its processing, quality assurance and certification hub in Florida before shipping the equipment to Nigeria, while exploring additional supply options as it targets more than 100MW of capacity over the next 24 months.

The Florida hub, supported by technical partner M3 Miner Repair, provides the repair, testing and quality assurance capabilities required to prepare the ASICs for Nigeria’s operating conditions, including seasonal Harmattan dust, high temperatures and humidity. Each unit will be inspected, conditioned and certified before shipment, establishing a stronger technical baseline before the equipment reaches the site.

Terrahex is developing an alternative to hyperscale computing infrastructure for markets where power availability, bandwidth and costs can make conventional data centre models difficult to replicate. By locating modular high-performance computing infrastructure close to underutilised generation, the company aims to create a lower-impact approach to converting available power into productive computing capacity.

Bitcoin mining is Terrahex’s first commercial workload, while AI computing forms part of its longer-term infrastructure strategy as the company scales.

In parallel, Terrahex has ordered medium-voltage and low-voltage equipment to support its recent purchase of air-cooled 40ft containers from Datacubes, the Belgian manufacturer of mobile data centre units. Each container has shelf capacity for up to 356 miners and electrical installation capacity of up to 1,300kW.

The containers will house the incoming mining fleet in Nigeria, while the associated power equipment is being delivered to support the same deployment timeline.

Terrahex’s Power-for-Equity model combines modular computing infrastructure with underutilised energy assets, allowing the company to build mining infrastructure close to available power. The company has agreements in place with energy partners to support its wider development pipeline.

OluMayowa Ogunnusi, Founder & CEO of Terrahex, said, “Nigeria does not need to wait for hyperscale data centre economics before it can participate in the compute economy. Terrahex is starting with power that already exists, placing modular infrastructure close to it, and proving the model through mining before moving into wider compute. The machines are moving from preparation to deployment; the hub and containers are now pointing in one direction: the train has left the station.”

Patrick J. Sweeney, Board Chair at Terrahex, said, “Great infrastructure is built on secure supply and disciplined execution. Sourcing the first fleet from an established US operator gives Terrahex the supply base, while testing and certifying every machine as fit for the deployment conditions before it ships removes risk from the build. Those pieces give this initial 9MW node a stronger operating foundation and create a credible path to 100MW in Nigeria.”

Dayo Okusami, Director at Terrahex and Partner at one of Africa’s largest law firms, TEMPLARS, said, “Nigeria has the power and the ambition to host world-class compute. In frontier energy markets, counterparty quality and contracting discipline have to be settled from the start. A hardware supply arrangement of this kind needs clear terms, defined responsibilities and the right partner scrutiny from the outset. Terrahex is applying international due diligence and standards from inception through to completion.”

Toon Craenen, Founder at Datacubes, said, “We build for some of the toughest operating environments in the world, and the Niger Delta is a serious test. Terrahex has chosen Datacubes to house its first node, with filtration, ventilation and monitoring designed to hold uptime high in heat, humidity and dust.”

With its hardware secured, US testing and conditioning hub operational, and purpose-built containers and power equipment on order, Terrahex now has the core infrastructure required for its first 9MW node ahead of its December 2026 go-live target.

NCC Strengthens Enforcement of Type Approval for SIM-Enabled Devices

noreply@blogger.com (BrandArena) — Thu, 10 Sep 2026 17:28:39 +0000

The Nigerian Communications Commission (NCC) has stepped up monitoring and enforcement of Type Approval requirements for SIM-enabled communication devices in Nigeria.

The commission said the initiative would make Type Approval compliance more efficient, consistent and effective through a technology-enabled framework.

In a statement issued by its Director of Public Affairs, Mrs Nnena Ukoha, the NCC said the Device Management System (DMS) would serve as the technology platform supporting the automated compliance framework.

According to her, the system would enable the commission to electronically determine Type Approval compliance for SIM-enabled devices.

She said the initiative was aimed at ensuring that communication devices imported, sold and used in Nigeria meet applicable technical and regulatory standards.

Ukoha said Section 132(2) of the Nigerian Communications Act 2003 required licensed service and facilities providers, equipment manufacturers and suppliers to obtain Type Approval before communications equipment could be sold or used in Nigeria.

She said the DMS would strengthen the integrity of the communications device ecosystem by improving compliance, enhancing network performance and facilitating the identification of non-compliant devices.

She added that the framework would also strengthen consumer confidence in devices sold and used in the country.

“The commission has commenced the first phase of implementing the automated Type Approval compliance framework in collaboration with the Nigeria Customs Service, Original Equipment Manufacturers (OEMs), importers and relevant market associations.

“This phase focuses on onboarding existing devices currently held in stock,” she said.

She said the process would provide a more effective mechanism for identifying non-compliant and illegally imported devices before they entered widespread use.

Speaking on the rollout, NCC’s Director of Technical Standards and Network Integrity, Edoyemi Ogoh, said the Type Approval Business Rules issued in August 2024 provided the regulatory framework for establishing a Central Equipment Identity Register (CEIR).

Ogoh said the CEIR would maintain a registry of International Mobile Equipment Identity (IMEI) numbers of SIM-enabled communications devices in Nigeria, following extensive stakeholder engagements and market studies by the commission.

He said all SIM-enabled communications devices brought into the country would be required to be registered before being sold, adding that unregistered devices would not be permitted to operate on Nigerian networks.

He said the system would also make it easier to identify illegally imported and non-compliant devices and block stolen devices from operating across Nigerian mobile networks.

He said the platform would only support device identification and Type Approval compliance and would not give the commission access to users’ device content or enable it to monitor personal communications.

Industry unveils Top 50 Nigerian Companies of Impact 2026

noreply@blogger.com (BrandArena) — Thu, 10 Sep 2026 17:13:00 +0000

Leading Nigerian businesses have been recognised at the 2026 Industry’s Top 50 Nigerian Companies of Impact Awards for demonstrating resilience, innovation and commitment to national development amid a challenging economic environment.

The awards ceremony, held at the Lagos Oriental Hotel in Victoria Island, Lagos, brought together businesses across key sectors of the Nigerian economy. The annual ranking and awards, organised by The Industry Newspaper, recognise companies that combine profitability with job creation, local content, innovation and social impact.

Declaring the event open, Goddie Ofose, Editor-in-Chief/Publisher of The Industry Newspaper and Convener of the Top 50, said the 2026 theme, “Building Resilience, Driving Growth: Nigerian Companies Shaping the Next Decade”, reflects the realities of doing business in Nigeria.

“This is not an easy time to do business in Nigeria. Inflation has tested margins. FX volatility has tested planning. And yet, despite all of that, you are here. You are building. You are hiring. You are innovating,” Ofose stated.

L-R: Proprietor of Lagooz Schools in Orile Agege/Chairman of the Industry Top 50 Nigerian Companies of Impact, Chief Yomi Otubela; SSA to Nigerian President/President, Advertisers Association of Nigeria (ADVAN), Mr. O’tega Ogra; Head of Business Development & Commercial, Cardinal Torch Limited, Ms. Ndutimobong Sunday; and Publisher/Editor-in-Chief, The Industry Newspaper, Goddie Ofose, during the 2026 Top 50 Nigerian Companies of Impact unveiling at Oriental Hotel, Victoria Island, Lagos recently.

He said the impact of businesses should be assessed beyond revenue and financial performance.

“Impact is the jobs created in Aba, Kano, and Port Harcourt. It is the factory that stayed open when others closed. It is the payment rail that moves money in 3 seconds. It is choosing to invest in Nigeria when it would have been easier to wait.”

Ofose highlighted examples of resilience across different sectors, citing Dangote and BUA for doubling down on local production; Interswitch for powering the digital economy; Vitafoam and Meyer Paints for maintaining brands in Nigerian homes; and Oracle Experience, X3M Ideas and Noah’s Ark for expanding the experience and communications economy.

He also cited Insight Redefini and Chain Reactions Africa as examples of Nigerian businesses demonstrating that “Nigerian ideas and creativity can win global awards and solve local problems.”

Chairman of the Occasion, Chief Yomi Otubela, FCMA, National President of NAPPS, urged the honourees to regard the recognition as a call to greater responsibility.

“What we are celebrating today is not simply business success. We are celebrating impact,” Otubela said. “Beyond making a profit, what difference is a company making? How many people does it employ? How much does it invest in innovation? How responsibly does it conduct its business?”

He called on businesses to place greater emphasis on job creation, good governance, local content and sustainability.

“The companies that will make the greatest difference in the next decade will be those that understand that business success and national development are closely connected,” he added.

Delivering the keynote address, Mr. O’tega Ogra, SSA to President Bola Ahmed Tinubu on Digital Engagement and Strategy & President, ADVAN, highlighted the growing ability of Nigerian companies to transform local challenges into expertise that can be deployed across Africa.

Citing Bergmans Security Consultant and Supplies Limited, which is leading a $3.1 billion AfCFTA customs modernisation project after proving its model in Nigerian ports, Ogra said: “The Nigerian market became its proving ground. The expertise developed here is now being taken to the continent.”

Ogra also emphasised the importance of technology, trust and listening in determining which businesses will shape Nigeria’s next decade.

“The companies that shape the next decade will distinguish themselves by how quickly they learn to apply technology to actual problems. Attention can be bought. Trust cannot.”

The 2026 Top 50 Nigerian Companies of Impact list features businesses across manufacturing, fintech, consumer goods, energy, media and communications. The companies were recognised for demonstrating impact that extends beyond their balance sheets and contributes to economic and social development.

In his closing remarks, Ofose said the awards were not intended to portray the honourees as perfect businesses, but to recognise their continued commitment to operating and investing in Nigeria.

“This is not a celebration of perfection. It is a celebration of presence. Of companies that chose to be present in the Nigerian economy, in Nigerian communities, and in the Nigerian future.”

He urged CEOs to “keep building, keep employing, keep telling credible Nigerian stories. The country needs you.”

The full 2026 Top 50 Nigerian Companies of Impact list and special supplement were unveiled at the event.

The Industry Newspaper is a Nigerian publication covering business, marketing communications, brands and the economy. Its Top 50 Nigerian Companies of Impact is an annual flagship project recognising enterprises contributing to national development.

Dangote’s Wealth Hits $32.5bn as Investors Position for Refinery IPO

noreply@blogger.com (BrandArena) — Mon, 07 Sep 2026 17:08:43 +0000

Nigerian billionaire Aliko Dangote, Africa’s richest man, added $1 billion to his fortune on Monday, September 7, 2026, pushing his total net worth to a record $32.5 billion.

The sharp increase comes as global investors step up preparations ahead of the highly anticipated N2.2 trillion ($1.3 billion) initial public offering (IPO) of his landmark oil refinery, scheduled to open on September 14.

The one-day surge caps an extraordinary year for the Nigerian industrialist, whose wealth has risen by 27% since January, driven largely by growing investor confidence in his sprawling business empire, the Dangote Group.

Analysts attribute the momentum to the planned public listing of the Dangote Petroleum Refinery, the mega-refinery located in the Lekki Free Zone outside Lagos.

Market expectations for the offering are exceptionally high, with financial advisers noting that domestic and international institutional investors are rapidly repositioning their portfolios to secure allocations.

The N2.2 trillion share sale is projected to become the largest equity offering in the history of the Nigerian Exchange (NGX), marking a potentially significant milestone for Nigeria and the wider West African capital market.

The 650,000-barrel-per-day refinery, which recently began operations, is widely regarded as a potential game-changer for Africa’s largest economy.

Nigeria has historically faced chronic fuel shortages and significant foreign exchange outflows because of its heavy reliance on imported refined petroleum products.

By processing crude oil locally, the refinery is expected to reduce these vulnerabilities, strengthen energy security and potentially conserve significant foreign exchange for the country.

Monday’s surge in Dangote’s fortune reflects the market’s confidence in the refinery’s long-term earning potential.

Beyond oil, Dangote’s interests in cement, sugar and fertiliser continue to deliver resilient performance, supporting his position at the top of the Bloomberg Billionaires Index.

With the September 14 IPO date approaching, financial regulators are reportedly working closely with the Dangote Group to facilitate a smooth transition to the public market.

With his net worth now at $32.5 billion, Dangote has further strengthened his position as Africa’s leading industrialist.

The proposed share offering is expected to attract substantial liquidity into Nigeria’s capital market and could further cement the refinery’s position as the crown jewel of Dangote’s decades-long business empire.