Analysts: Nigeria’s Q2 GDP to grow by 0.5%

  Tony Chukwunyem Widespread predictions that Nigeria’s economy will be out of recession this year may be coming to pass, as the latest forecast by analysts at Financial Derivatives Company Limited (FDC) indicate that Gross Domestic Product (GDP) for the second quarter of 2017 will increase by 0.5 per cent. The experts, who made the prediction in the firm’s July Lagos Business School (LBS) presentation, obtained by New Telegraph last weekend, stated: “Q2’17 growth figures expected to climb 0.5per cent into positive territory; the GDP by expenditure approach reveals that…

Read More

‘Africa needs more innovation hubs to support growth’

With African countries expected to have the youngest populations and the second largest continental population in the world by 2050, innovation and business support will be critical to ensure that the continent records the kind of growth rates needed to sustain it, analysts have said Speaking at the Epicor Customer Summit, in South Africa last weekend, the Chief Executive Officer of World Wide Worx, Arthur Goldstuck, said that the African challenges should be seen as opportunities and not challenges. “Africa is poised to become the breadbasket of the world, and…

Read More

Banks seek growth through agent banking

Against the background of rising competition in the financial services industry coupled with Nigeria’s tough economic conditions, banks are looking to expand retail financial services through agent banking, which was pioneered in the country by Sterling Bank. Tony Chukwunyem writes   If information emanating from commercial lenders in the country is anything to go by, it would seem that the Agent Banking scheme launched by the Central Bank of Nigeria (CBN) four years ago to boost savings and extend financial services to the unbanked, is making progress. A few days…

Read More

Financial regulations hamper Africa’s economic development –Report

  Despite global politicians proclaiming their support of the development of African economies, current financial regulations are impeding social and economic growth on the continent by stifling its trade finance, a report has said. The study entitled: “Emerging Banking Regulations Impact on African Trade Finance” and published in this month’s edition of “Capital Markets in Africa”, stated : “Promoting trade finance is the mechanism for social and economic development on the African Continent and swathes of well intentioned banking regulations are disqualifying African small and medium enterprises (SMEs) from the…

Read More

‘Ecobank recovered $2m bad loans in Q1 2017’

Stories Tony Chukwunyem Ecobank Transnational Incorporated (ETI) recovered $2 million of its non-performing loans (NPLs) in the first quarter of 2017 through a resolution vehicle it set up for that purpose, the Group’s Chief Executive Officer, Ade Ayeyemi, has disclosed. He said this at the bank’s Annual General Meeting (AGM) in Lome, Togo. He said that despite the continued macro-economic challenges in some parts of the continent, all of the Group’s businesses are making meaningful progress: “With an ongoing focus on cost discipline, stringent credit control and the increasing digitisation…

Read More

First Bank: Why developing countries use USSD service

With most published researched findings showing that the Unstructured Supplementary Service Data (USSD) communication technology is currently the best available communications technology to deliver mobile financial services to low-income customers, it is perhaps not surprising that the majority of large scale Mobile Financial Services (MFS) deployments in the developing world use it as their primary mechanism for communication between customers and their mobile payments platform. In Nigeria, for instance, the largest custodian of customer deposits, First Bank of Nigeria Limited, has stepped up its financial inclusion drive with its USSD…

Read More

CBN focuses on naira stability amid rate cut calls

Central Bank of Nigeria

In continuation of its efforts to tighten liquidity and curb speculation on naira, the Central Bank of Nigeria (CBN), last week, mopped up over N200 billion from circulation. This is as calls for the apex bank to reduce interest rates continue to grow. TONY CHUKWUNYEM writes Given that hardly does a week pass these days without some major foreign exchange pronouncements emanating from the Central Bank of Nigeria (CBN), it was clearly predictably that developments in the nation’s forex market would be one of the issues discussed at the Bankers’…

Read More

Improve The Deployment Of WordPress Websites

To Improve The Deployment Of WordPress Websites As WordPress matures into a full-fledged CMS and more and morelarge online publishers come to rely on the platform, the practice of developing and deploying websites becomes increasingly important. High-profile members of the WordPress community, such as core developer Mark Jaquith and Cristi Burca, have spoken on the topic and built tools such as WP-CLI and WP Stack to improve the professionalism of our administration and deployment. But what I’m really interested in is the current state of WordPress deployment: how an average…

Read More

The Options For WordPress Theme Development

At the recent WordCamp Edinburgh, I took part in a panel discussion about WordPress theme development and the options available to developers when building themes. The overriding conclusion from the session was that there isn’t a one-size-fits-all answer and that the best method depends on the needs of the website and the capabilities of the developer. But if you’re starting out building WordPress themes or want to develop a system for building them more efficiently or robustly, how do you decide which approach to take? In this article, we’ll briefly…

Read More

Improve WordPress Theme Development Process

There is so much to learn about WordPress theme development. The Internet is home to hundreds of articles about building WordPress themes, to countless theme frameworks that will help you get started, and to endless WordPress themes, some of which are beautiful and professional but not a few of which are (to be honest) a bit crappy. Rather than write another article on building a WordPress theme (which would be silly, really, since any theme I build would fall into the “crappy” category), I’ve asked some of the top theme…

Read More