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Transfer taxes bring in 125 billion for Nigeria.

The Federal Inland Revenue Service FIRS, Nigerias tax collection agency, recently published its 2022 report outlining its accomplishments in 2022. The

The Federal Inland Revenue Service FIRS, Nigerias tax collection agency, recently published its 2022 report outlining its accomplishments in 2022. The agency reported that it has received 10.1 trillion in oil and nonoil income, exceeding its projections for 2021. The agency exceeded its goal of 6.401 trillion by collecting 6.405 trillion in 2021. Nonoil revenue has increased since 2017, rising from 38% in 2017 to 59% in 2022. In contrast, previous years numbers showed that 69% of taxes were generated by sources other than oil. Read More..

B2B Tech News | 1 months ago        

Africas startups withstand a funding crunch.

African startups more than doubled the amount of debt they raised last year, a surge that may continue as an economic slowdown makes equity funding mo

African startups more than doubled the amount of debt they raised last year, a surge that may continue as an economic slowdown makes equity funding more expensive and unsustainable over the long term. Companies on the continent raised US$1.55billion R26.8billion in 71 debt deals in 2022, suggesting its become a solid alternative source of capital for African technology startups, venture capital firm Partech Partners said in a report. Kenya attracted more debt than any other African country, taking almost 40% of the total amount raised through 15 deals, while Nigeria received the most equity funding, getting $1.2billion — a 36% decline, compared to a year earlier, in a 189 funding rounds, the report said. Read More..

B2B Tech News | 1 months ago        

Saipem wins offshore contracts worth $900 million in Brazil and Norway.

For the LAPA Southwest development project in the Santos basin, Brazil, TotalEnergies has won the first contract. 270 kilometres off the coast of So

For the LAPA Southwest development project in the Santos basin, Brazil, TotalEnergies has won the first contract. 270 kilometres off the coast of So Paulo is where the deepwater oil field is. Saipem will carry out the contract in collaboration with Aker Solutions do Brasil. The second contract for the Irpa pipeline project in the deep seas of the Norwegian Sea has been given by the Norwegian company Equinor. The project entails laying 80 km of swagged pipeinpipe pipeline to connect the Aasta Hansteen platform to the subsea production template for the Irpa gas field. Read More..

B2B Tech News | 1 months ago        

With $608 million, Kenya leads African startups in debt funding.

According to a report by Partech Africa, 15 debt investment rounds totaling $608 million were raised by Kenyan entrepreneurs in 2022. 84% of debt fina

According to a report by Partech Africa, 15 debt investment rounds totaling $608 million were raised by Kenyan entrepreneurs in 2022. 84% of debt finance on the continent was provided by fintech 45% and cleantech 39% companies. Due to the difficulty in obtaining equity capital, many African entrepreneurs opted for debt financing. With $1.9 billion from investors on the continent, fintech continues to be the industry with the greatest funding. Growth stage funding only received $69 million, while seed stage funding received 212 million dollars. Women in Kenya and Nigeria established startups that raised $146 million and $127 million, respectively. Read More..

B2B Tech News | 1 months ago        

Argentina and Brazil Examine a Common Currency.

The feasibility of introducing a single currency for Latin America is being researched by Brazil and Argentina. According to the Financial Times, the

The feasibility of introducing a single currency for Latin America is being researched by Brazil and Argentina. According to the Financial Times, the action may eventually lead to the formation of the secondlargest currency bloc on earth. The concept will be discussed by the two nations this week at a conference in Buenos Aires. In contrast to the euros 14% share of global GDP, a monetary union would account only 5% of it. The first regional bank on the continent to introduce a standard digital currency is the Bank of Central African States BEAC. The Banks board was persuaded to move forward with the change last summer by its board. The U.S. Federal Reserve is working with a group of top commercial banks on a watershed project involving digital currencies. Read More..

B2B Tech News | 2 months ago        

Distress over a Made in America law among Europeans at Davos.

The provision in the law for $369 billion for lowemissions energy and green technology concerns Europeans. They are concerned that major projects will

The provision in the law for $369 billion for lowemissions energy and green technology concerns Europeans. They are concerned that major projects will be awarded to the United States rather than Europe. During meetings in Davos, Switzerland, the phrase trade war was mentioned several times. European delegates at Davos call for a strong response to US legislation in order to boost investments in clean technology and energy. The EU should use some of the money from a postpandemic recovery fund worth 700 billion euros $760 billion to boost the regions competitiveness. Read More..

B2B Tech News | 2 months ago        

To strengthen its presence in Colombia, Nubank secures a loan for US$150 million.

One of the biggest digital banks in the world, Nubank, based in Brazil, announced a US$150 million loan from the International Finance Corporation IFC

One of the biggest digital banks in the world, Nubank, based in Brazil, announced a US$150 million loan from the International Finance Corporation IFC to enhance access to financial services in that market and support the expansion of its operations there. David Vélez, the CEO and founder of the company, was born and raised in Colombia, which has been operating this fintech since 2020 after opening in Mexico 2019 and Brazil 2013. Nu Colombia is the nations fastestgrowing card issuer, with more than 400,000 cards issued in the previous 10 months, and customers in all regions and in nearly 80% of towns, according to company statistics. This is IFCs first financial commitment to a Latin American and Caribbean online bank. Read More..

B2B Tech News | 2 months ago        

Lender Pezesha selects licenses to conduct business fully in Uganda.

The B2B online lending infrastructure provider Pezesha has announced that it is now fully authorised to conduct business in Uganda. The business, whi

The B2B online lending infrastructure provider Pezesha has announced that it is now fully authorised to conduct business in Uganda. The business, which secured a preseries A investment of KES 1.32 billion USD 11 million in August of last year, led by Womens World Banking Capital Partners II WWBCP II, has been looking for ways to expand its operations and penetrate new African markets. It has been providing its services in Kenya and Ghana for a very long period. Pezesha has now made hints that it may expand to additional African nations, including Nigeria and Rwanda, in the near future. Read More..

B2B Tech News | 2 months ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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