The International Committee of the Red Cross (ICRC) and the Tony Elumelu Foundation (TEF) signed a memorandum of understanding today to empower 200 entrepreneurs from Nigeria’s North East and Niger Delta regions. Their partnership aims to holistically address, through innovative interventions, the economic plight of communities affected by armed conflict or violence.
The Nigerian economy exited a negative territory in 2017 as Gross Domestic Product (GDP) grew by o.55% in the second quarter of 2017. This was largely attributed to the increase in oil production and a recovery in oil price.
Investors are cooling on consumer-facing fintech. Ask a VC about strategy or what areas are most exciting in the year ahead, you’ll hear about improving the existing, outdated financial system with all its inefficiencies and inadequacies, rather than introducing ways for people to manage their money.