Nigeria’s Banks Rake in Record Profits in 2024—But the Government Took the Largest Slice
In 2024, Nigeria’s top financial institutions thrived in a turbulent but lucrative economic climate. Nine publicly listed banks—Access Holdings, FCMB, Fidelity, First Holdco, GTCO, Stanbic IBTC, UBA, Wema Bank, and Zenith—collectively posted a post-tax profit of ₦4.786 trillion. This figure marked a robust 53.34% increase compared to the ₦3.121 trillion reported in 2023. However, beyond […]
Brand Battle Brews Between Zap Africa and Paystack Over ‘Zap’ Trademark in Nigeria’s Fintech Arena
A fierce trademark dispute has erupted between emerging crypto exchange Zap Africa and fintech heavyweight Paystack, sparking a broader conversation about branding rights and intellectual property protection in Nigeria’s fast-evolving tech sector. At the heart of the disagreement lies the name “Zap,” which both companies assert as their exclusive intellectual asset. The clash has escalated […]
Tesla’s Sales Plunge in Europe as Competition Heats Up and EV Market Diversifies
Tesla’s presence in the European automotive market took a notable hit in March, with new car registrations dropping sharply by 28.2% compared to the same period last year. This decline came even as the broader electric vehicle (EV) segment in Europe witnessed impressive growth, signaling a possible shift in consumer sentiment and increased pressure from […]
Pony.ai Faces Trade War Hurdles as It Pushes Global Expansion Plans
China-based autonomous vehicle pioneer Pony.ai has acknowledged that escalating trade tensions between the United States and China could disrupt its ambitions for global expansion. Despite the challenges, the company remains confident that its core supply chain will withstand the geopolitical turbulence. Pony.ai, which receives backing from Japanese automotive giant Toyota, disclosed on Thursday that the […]
South Korea Flags Chinese AI Firm DeepSeek for Unauthorized Data Transfers
South Korea’s data protection agency has accused Chinese artificial intelligence startup DeepSeek of illegally transferring user data overseas without proper consent. The country’s Personal Information Protection Commission (PIPC) made the announcement on Thursday, raising fresh concerns about the privacy practices of foreign tech companies operating in the region. According to the commission, DeepSeek — developed […]
