Business News

African e-commerce firm Jumia Technologies will close its food delivery business in all seven countries in which the unit operates by the end of the year to focus on growing its core online retail business, it said on Wednesday. Jumia is aggressively cutting costs in order to turn profitable, including head count reductions, exiting everyday grocery items and reducing delivery services not related to its e-commerce business. The move is in line with Jumia's "strategy to optimize its capital and resource allocation and to continue its path to profitability," the retailer said, adding that Jumia Food is not suitable to…
We all want to be able to do more in less time because, in an ideal world, it would mean that we will have more time to do everything else we want to do. However as we manage to fast-track our productivity, we aren't left with more time to ourselves but just more time to do more work. The result of high productivity is often highly burnt-out staff. But as Apple is working to prove, it doesn't have to. Perhaps what we need isn't another productivity hack that helps us cross an extra item off our ever-growing to-do list. Instead,…
They call him the Oracle of Omaha, and sure enough, thousands descended on the Cornhusker State to hear what Warren Buffett had to say at the annual Berkshire Hathaway shareholders meeting. There's a lot to pull out of it, but Buffett, 92, has a way with words sometimes, and when he was asked at one point what the future looks like for investors, he had such a pithy answer that I think people will be repeating it among his other Buffett-isms for a while to come. Are we running out of opportunities? The exchange went like this: Buffett was asked…
In-person job interviews typically last between 45 and 90 minutes, according to job search site Indeed. In that time, you'll probably be asked about your work history and be told about the role you're interviewing for. When the interview's over, It's customary to send a thank you email to everyone who interviewed you within 24 to 48 hours — but if you want to go that extra mile, send a physical thank you note as well. "Hardly anyone does that ever," says Vicki Salemi, career expert at Monster. But it can pay off — here's why. It shows you 'really…
Pension Fund Administrators have recorded N7.98tn profit from investing contributions made by workers into their Retirement Savings Accounts under the Contributory Pension Scheme, according to a new report. The report, obtained from the Pension Fund Operators Association of Nigeria, revealed that the total funds under the CPS was 17.37tn as of the end of second quarter of 2023. Contributions made by the workers from both private and public sectors totaled N9.37tn in the period under review. The report titled, ‘At the dawn of 20 years of pension reform, what are the gains?’ and released by the Chief Executive Officer, PenOp,…
Communicating effectively is not just a skill it's a strategic advantage. In my journey as a public speaker, I'm deeply committed to empowering individuals and organizations, leveraging my extensive experience as a successful entrepreneur and leader to share invaluable insights rooted in real-world challenges and triumphs. As entrepreneurs, our capacity to articulate ideas, influence stakeholders, and command attention directly impacts our business and career trajectory. The journey to becoming a confident and compelling speaker is a continuous process, we are never done improving. In this article, we explore the essential strategies to develop your speaking and presentation skills as an…
Atedo Peterside, president and founder, Anap Foundation and Anap Jets, said investors who cherish the rule of law are being replaced by those who “partner with politicians”. He made this known in a post via his X, formerly Twitter, account, on Thursday, while addressing a report by TheCable that Procter & Gamble (P&G) is halting local production. On Tuesday, during a presentation at the Morgan Stanley global consumer & retail conference in New York, United States, Andre Schulten, chief financial officer, P&G, disclosed the company’s plan. Schulten said P&G, producer of Pampers, Always, Oral B, Ariel and Gillette, will end…
Procter & Gamble (P&G), an American multinational consumer goods, says it has plans to transition from local production to solely importing its products as the firm winds down its on-ground presence in Nigeria. Andre Schulten, chief financial officer, P&G, disclosed this on Tuesday, during his presentation at the Morgan Stanley global consumer & retail conference in New York. P&G is the manufacturer of common Nigerian household items such as Pampers, Always, Oral B, Ariel, Ambi-pur, SafeGuard, Olay and Gillette. Schulten said the decision is a result of the challenging business environment in Nigeria, as well as the difficulty in creating…
There's an ever-changing landscape in today's business world. It's vital for companies to constantly stay ahead of the curve for consistent growth. Failure to do so can render your business practices outdated at best and obsolete at worst. One of my favorite events to attend each year is Ernst and Young's Strategic Growth Forum. In 2016, I was an award winner and have attended every year since. It's fascinating to meet the individuals and companies who also attend and to note the changing trends in growth and innovation each year. With that being said, here are a few innovative trends…
After starting the week in the red zone, the Nigerian Exchange Limited on Tuesday, closed in the green zone with N166bn gain. Losses recorded in the equities of some medium-cap companies dragged the market capitalisation of the Nigerian Exchange Limited to a loss of N259bn on Monday. Recouping part of the previous day’s losses, both the market capitalisation and the All-Share Index rose by 0.43 per cent to close at N38.989tn and 71,250.17 respectively. The drivers of the market trend were primarily the stocks of AccessCorp, United Bank for Africa, Zenith Bank Plc, FBNHoldings, and MTN Nigeria. Transaction volume rose…
May 10, 2024

SEC introduces new regulations on private companies’ securities issuance, allotment

The Securities and Exchange Commission (SEC) has unveiled fresh regulations governing the issuance and allotment…
May 09, 2024

Criticism mounts over Lagos-Calabar coastal highway amid Umahi-Atiku clash

The Labour Party (LP), the Peoples Democratic Party (PDP) caucus in the House of Representatives,…
May 05, 2024

Here’s when people think old age begins — and why experts think it’s starting later

New research suggests that 74 is the new 71. Our perception of when “old age”…
April 13, 2024

A new camera can undress people almost in real time—to send a message about AI

Nuca, a new deepfake camera, is an art project that shows how artificial intelligence can…
May 05, 2024

Gunmen abduct Archbishop, 5 other clerics in Anambra

Uka Uka Osim, a leader of the Brotherhood of the Cross and Star, along with…
May 10, 2024

Here’s the latest as Israel-Hamas war enters Day 217

Netanyahu on US threat to withhold arms: Israel will fight with its 'fingernails' if needed…
May 01, 2024

Wellspring Consulting proposes cybersecurity investment to boost Nigeria's economy

In a bid to rescue Nigeria from its economic challenges, Wellspring Consulting advocates for significant…
April 30, 2024

Finidi George is new Head Coach for Super Eagles

Former Nigerian winger Finidi George has been appointed as the head coach of the national…

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