You need to active Javascript on your
BusinessDay
Nigeria's leading finance and market intelligence news report.

IHS Towers: How a bad bet on GSM became a $7bn company

Issam Darwish, the founder/CEO of IHS Towers, was all smiles following the successful listing of his company on the New York Stock Exchange on Thursday, October 14, but it was not always that way. He could hardly have summoned the same smile in 1999 when his first bet on Nigeria’s telecoms sector fell through. Celia Motophone Limited, a…

Big Story

IHS Towers: How a bad bet on GSM became a $7bn company

Issam Darwish, the founder/CEO of IHS Towers, was all smiles following the successful listing of his company on the New York Stock Exchange on Thursday, October 14, but it was not always that way. He could hardly have summoned the same smile in 1999 when his first bet on Nigeria’s telecoms sector fell through. Celia Motophone Limited, a…
Read More...

TOP STORIES

Columnists

Today's E-paper

Nigeria Stockwatch

Videos

The Shift: Why WhatsApp, Facebook, Instagram shutdown for 6hrs Monday

Private and personal information of over 1.5 billion Facebook users is being sold on a popular hacking-related forum, potentially enabling…

BusinessDay Diary (EP 11: Inside a Lagos factory changing the game in ice…

In today's episode of BusinessDay Diary, Kikelomo Adeniji, CEO, Iceplace Millennial, explains how she meets the demand for edible ice in the…

Businessday Diary Ep 10: Beyond the lens: The life, art of a Nigerian…

Today’s episode of BusinessDay Diary captures the life and art of Ayokunle, the CEO of Klala Photography. “The first person that booked us…

Businessday Diary Ep 9: How Olufon is helping businesses step up…

On today's episode of BusinessDay Dairy, Toyin Olufon, Principal Consultant, Lefort Consulting, speaks on managing finance, data analytics…

BusinessDay Diary Ep 8: Savenhart Technology Limited’s contribution…

On today’s episode of BusinessDay Media, Tolu Williams, founder of Savenhart Technology Limited talks about his contribution in renewable…

Announcing The Invincible Hands Exhibition

The Yemisi Shyllon Museum of Art is pleased to announce The Invincible Hands exhibition opening from August 28, 2021 – January 18, 2022.…

BusinessDay Diary (Ep 7): Farinu calls for more investment in digitisation,…

Today on BusinessDay Diary, the CEO of Swifta Systems and Services Limited Ayotunde Farinu speaks on digitization and automation. He also…

BusinessDay Diary (Ep 6): E’sorae Luxury on turning problems into profit

Today on BusinessDay Diary, Ewaen Sorae, CEO, E’sorae Luxury, shares insights on the hospitality business and how businesses can thrive in…

BusinessDay Diary (Ep 5): Surviving as an online meat vendor, Fola Balogun

In this episode of BusinessDay diary, Fola Balogun, founder of Ibile Treats, talks about key ingredients to thrive as an online meat vendor.…

BusinessDay Diary (Ep 4): With the CEO of Reals Pharmaceutical, Mr. Ade…

Mr. Ade Popoola, CEO, Reals Pharmaceutical, talks about the pharmaceutical sector and Nigeria’s chances of producing Covid-19 vaccines.

BusinessDay Weekender Turns One: The Editor Speaks

Over the weekend BusinessDay Weekender turned 1. 52 editions, 52 weeks, 52 weekends. On August 1st, 2020 we launched our first edition, and…

BusinessDay Diary (Ep 3): A dive into the world of baking with Nike…

In this episode of BusinessDay Diary, Nike Majekodunmi, the CEO, 'Nuts About Cakes', talks about the baking industry and shares lessons on…

BD Weekender

What Should You Do If You Don’t Like Selling? – A Review of…

Title: Sell Without Selling Author: Lady Theresa Publisher: Pholar Studios Year of Publication: 2019 Number of…

Lagos fashion week 2021: The future starts now

Following a pandemic-induced hiatus, Lagos Fashion Week is finally set to return from October 27th-October 30th at…

“ Start Small, Learn Fast, and Grow Big”

The Nigeria Bureau of Statistics (NBS) reports Nigeria’s youth population eligible to work is about 44 million, out…

Squid Game: A global sensation highlighting social woes that hits too close…

The new Netflix sensation, Squid Game, is a fascinating thriller series taking the world by storm and online to…

Entrepreneur

Dauda Oladimeji: Entrepreneur providing innovative maintenance solutions

Dauda Oladimeji is the managing director of GSO Facility Management, a technology start-up that provides seamless…

Novogratz backing was just the start for Nigerian upstart Alerzo

Alerzo, an e-commerce and payment solutions startup, backed by billionaire Michael Novogratz ’s family office,…

Meet Sola Adesakin, entrepreneur coaching on financial literacy

If there's one critical area of life many have not been able to demystify, it is gaining mastery of their finance.…

How Xolane Ndhlovu rose from dishwasher to high-flying entrepreneur

For someone born into poverty, whose childhood was spent on the dusty streets of Burgersfort, a town in Mpumalanga…
EEP 28 300by250 px 3

Sponsored

FBS Broker Gains Popularity in Nigeria with Special Services

Contemporary circumstances, the rise of the Internet, and globalization have opened up many companies providing…

15 Best Sites To Buy Instagram Followers in 2022

According to Instagram statistics for business, it has become a social media powerhouse that is used by both…

Citizenship by investment programmes are becoming popular amongst Nigeria’s…

In today’s world, there is no better backup plan than investing in a second citizenship, and a growing number of…

Guinness set to host Bright House Event; where creativity meets fun

Guinness is opening the doors to the Guinness Bright House, an immersive experience off its Black shines brightest…

Technology

As 5G beckons, can IHS meet Nigeria’s growing cell tower needs?

In the coming months, Africa’s largest economy would be finalising plans to launch a 5G network on a commercial…

IHS Towers: How a bad bet on GSM became a $7bn company

Issam Darwish, the founder/CEO of IHS Towers, was all smiles following the successful listing of his company on the…

Meet Nigeria’s 3 unicorns in 2021

There is a wave of excitement around three Nigerian startups that have hit a $1 billion valuation this year. They…

Media has key role in tackling Nigeria’s insecurity – NCC boss

Umar Garba Danbatta, the Executive Vice Chairman of the Nigerian Communications Commission (NCC) has urged media…

Economy

Nigerian states face low infrastructure spend on weak revenues

Nigerian states risk spending less on critical infrastructure as they attempt to balance low revenue generation…

Nigeria’s investment rate of return still negative but shrinking

The real rate of return on Nigerian assets has been negative for years, and even though it is now narrowing, it is…

Rising food prices threaten Nigeria’s economic recovery -IMF

The International Monetary Fund has warned that rising food prices combined with reduced incomes in Nigeria and…

Five trends driving business shifts globally – Okiti

As the global economy shifts, businesses will need to be aware of the changing trends in order to meet the…

Energy

Africa can save $774bn by promoting adoption of Liquefied Petroleum Gas…

Experts have said Nigeria and other African countries can save more than $774 billion by promoting adoption of…

Soaring energy prices pose economic risks for Nigeria – World Bank

Nigeria has been listed among countries to be negatively impacted by soaring global energy prices. Energy prices…

Guyana strategy: What Nigeria can do with private capital

Guyana, a tiny South American country, is attracting fresh private capital on oil and gas assets to develop…

Clean energy investment needs to triple by 2030 to reduce climate change-…

As the global energy crisis reignited demand for oil, the International Energy Agency (IEA) said investment in…

Markets

Nigeria’s stocks gain N170bn in week ended Oct. 22

In the holiday shortened trading week to Friday October 22, many stocks listed on the Nigerian Exchange Limited…

Local investors outshine foreigners in Nigeria’s 9-month equities deals

In nine months to September 30, 2021 total value of equities traded on the Nigerian Exchange Limited (NGX) was…

Stocks gain N237bn as investors buy ahead of Q3 scorecards

Nigeria's equities market closed further in the green zone on Thursday as investors continued to buy value counters…

Stock market reroutes north as investors buy NGX Group, GSK, others

Nigeria’s stock market rerouted northwards on Wednesday, defying negative takeoff this week, as investors who…

Interview

I am committed to raising the next generation of super models in Africa –…

Queen Onyemaechi is the founder of Anani Model Management, the leading model and talent management agency based in…

Rolake Akinkugbe-Filani, scaling businesses across Africa

Rolake Akinkugbe-Filani is Chief Commercial Officer and leads the Commercial functions consisting of Sales,…

French investment still strong in Africa despite lower market share –…

AXEL BAROUX, managing director for Sub-saharan Africa at Business France, the French development agency for…

‘Financial inclusion will not improve if Nigeria doesn’t address barriers…

Chinasa Collins-Ogbuo is the head of the Inclusion for All Advocacy Hub at Africa Practice. In this interview with…

Compaines

Unilever Nigeria records 31% topline growth in Q3 2021

Unilever Nigeria Plc released its unaudited interim report for the period ended 30th September 2021. Unilever…

FBN Insurance pays out N11.4bn claims in 9-months

Life specialist underwriter, FBN Insurance Limited paid out N11.4 billion claims to its clients as of the end of…

Stanbic IBTC Q3 pre-tax profit drops by 41%

Stanbic IBTC Holdings Plc recorded 41percent decline in its third-quarter (Q3) 2021 profit before tax (PBT) of…

Onukwe succeeds Ezeagu as ASHON’s Chairman

There was a change of baton at the Association of Securities Dealing Houses of Nigeria (ASHON) at the weekend, as…

Politics

Anambra guber: Accord, INEC and Ifeatu’s eleventh-hour defection

When on August 11, 2021, Godwin Maduka, picked Obi Kenneth Ifeatu as his running mate on the platform of the Accord…

2023: Osinbajo, Tinubu’s support groups dig in as principals keep mum

The support groups of Vice President, Yemi Osinbajo and Ahmed Bola Tinubu, a national leader of the All…

Constitution amendment unrealistic, cosmetic approach to Nigeria’s…

Wunmi Bewaji is a former minority leader of the House of Representatives and a barrister and solicitor of the…

2023: Pressure mounts on Tinubu to declare for presidency

Pressure is gradually being mounted on the former governor of Lagos State and National Leader of the All…

Women in Business

Habiba Balogun, Principal Consultant, HB Consulting

Habiba is an alumnus of Harvard Business School Executive Education in Strategic Leadership. She has worked with…

Excellence Joshua, Founder, Techy Train Incubator

Excellence is the founder of Techy Train Incubator, a Nigerian based onshore and offshore training and recruitment…

Yemi Keri, Non-Executive Director, Investment One Financial Services…

Yemi Keri is the Chief Executive Officer of Heckerbella Limited, a digital transformation company. She is Chair,…

Roselyn Onalaja, managing consultant, StreSERT integrated limited

Roselyn is experienced in leadership, strategy, client services, and talent management. She worked with Accenture…

Toon of the Day

Podcast

Life + Art

Nigerian Afro-pop artiste, Dreycoded shares lessons learnt in the music…

Nigerian Afro-Pop artiste, Dreycoded has highlighted some of the lessons he has learnt so far in the music…

Design Week Lagos 2021 set to celebrate best contemporary African designs

Design Week Lagos (DWL), the leading design week in African is set to hold from 21st to 31st, October 2021 and will…

Adaora Nwodo, young, techy and honing her skills

Nenne Adaora Nwodo (who fondly likes to be called Adora), is a Software Engineer based in Lagos, Nigeria. She…

Charles Onyeabor set to drop new ‘Heartbreak’ song

Nigerian born Italy based singer, Charles Onyeabor seems ready to drop yet another song. Charles, the son of…

Africa

US adds 17b doses of J&J vaccine to AU basket

The United States has pledged 17 million additional doses of J&J vaccines to the African Union, boosting supply…

South Africa won’t bow to pressure on coal ban for climate aid- Mantashe

Gwede Mantashe, South Africa's energy minister has expressed his stand against the coal ban for climate aid.…

Namibia under pressure amid influx of Angolan migrants

Namibia said on Friday that thousands of Angolans, crossing into the country to escape hunger, is adding extra…

Gurnah becomes East African first Nobel Literature Prize winner

The Nobel Prize in Literature for 2021 has been awarded to Tanzanian novelist Abdulrazak Gurnah, it was announced…

World

Trump set to launch own social media platform

Donald Trump, former president of the United States of America is set to announce the launch of his own social…

MP David Amess dies after being stabbed

David Amess, a British conservative member of the parliament has died after being stabbed at a constituency…

Russia battles to meet global demand for Sputnik V vaccine

Russia is in a race of its life to meet the demands from across the globe on Sputnik V, a Covid-19 vaccine…

Taiwan building fire leaves 46 dead, dozens hurt

The death toll from a fire in the city of Kaohsiung, southern Taiwan that engulfed a building on Wednesday night…

Recent

COLUMNISTS

OPINION

Ogun commences distribution of employment letters to 5,000 teachers

Ogun State government has commenced distribution of appointment letters to 5,000 teachers employed via Ogun Teach…

Today's E-paper

Obiano signs Anambra anti-grazing bill into law

Governor Willie Obiano of Anambra state on Friday signed the anti-grazing bill into law. The governor performed…

Coronavirus

India to restart covid vaccine export in January to poorer nations

The Serum Institute of India (SII), the world's biggest vaccine maker, has nearly quadrupled its monthly capacity…

Russia battles to meet global demand for Sputnik V vaccine

Russia is in a race of its life to meet the demands from across the globe on Sputnik V, a Covid-19 vaccine…

Federal workers to start showing proof of COVID-19 vaccination

The Nigerian government on Wednesday said all federal workers across the country will from 1st December 2021, show…

WHO says evidence on widespread need for booster doses still limited

Evidence on the need for a widespread administration booster doses, following primary vaccination rounds remains…

COVID-19 VACCINE TRACKER

Premium

Businessday Investigates

Poor hearts in barrels of harmful oils

As unbridled access to unhealthy fats consumption increasingly hurts the human heart, thousands of Nigerians die…

Podcast

Magazines

More Stories

Heroes of 20-10-2020

Many may have forgotten, but many have not, and many are still caught up in the shock. It is a year now that the…

Nigeria must secure its future today

At no time has the need for Nigeria to secure its future been more urgent than now. The country is groaning under…

The business case for telecom towers

The horizons of Nigeria’s towns and villages have transformed dramatically over the past 20 years with the…

That Nigeria will join the world’s climate change campaign train

In a few days, precisely on 31 October, 2021 Nigeria will join no fewer than 195 other signatories to the 1994…

UK’s Fund aids millions in Northern Nigeria to generate N37bn

Funded by the British Government, the UK aid through its Propcom Mai-karfi has supported over 1.25 million adults…

Breaking the spirit of the public service: Yewande Sadiku and her traducers

Prof. Kalu Uka introduced me to Victor Hugo’s Les Misérables when I was English and Literary Studies major at the…