Category: Business
SASSA Social Grant Increases for April 2025: New Rates and What They Mean
Starting April 2025, South Africa’s major social grants have increased as part of a broader effort to support vulnerable citizens. The Old Age, Disability, Foster Care, and Child Support grants all saw boosts, while social relief funding remains steady. These changes reflect both rising living costs and higher projected beneficiary numbers.
MTN Nigeria's 50% Tariff Hike on Calls and Data Sparks Outrage
MTN Nigeria is under fire for implementing a 50% tariff hike on calls and data, citing economic pressures like inflation. While the NCC approved the increase, customers are outraged, accusing the telecom giant of exploiting the current climate. Increased charges have sparked online protests and potential legal battles, putting MTN at the center of a growing controversy.
Aston Martin Seeks Financial Stability: New Fundraising Initiatives Announced
Aston Martin Lagonda Global Holdings Plc is set to raise £210 million through new shares and debt issuance after issuing its second profit warning in months. Known for its luxury cars and James Bond association, the company faces pressing financial challenges. The fundraising is crucial for stabilizing its finances and addressing ongoing profitability concerns, highlighting its proactive approach amid financial adversity.
Landmark Achievement: Dangote Refinery Launches First Domestic Petrol Shipment
Dangote Refinery is launching its first shipment of domestically produced petrol, moving Nigeria towards energy self-sufficiency. The 650,000-barrel-per-day facility is set to alleviate petrol shortages and potentially enable exports to neighboring countries. The Federal Executive Council supports this move, allowing financial transactions in local currency.
Luxury Cars of Controversial Businessman Hamilton Ndlovu to Go Under the Hammer in Johannesburg
A fleet of luxury cars once belonging to Hamilton Ndlovu, a businessman embroiled in a PPE tender scandal, will be auctioned on August 28, 2024, in Johannesburg. The auction, led by Park Village Auctions, aims to recover funds allegedly misappropriated by Ndlovu. The vehicles, including high-end brands like Lamborghini and Porsche, are expected to fetch around 7 million Rand but won't cover the total owed.
Qatar Lists Renovated Historic Townhouse Near UN for $32 Million
Qatar is selling its luxurious six-story townhouse near the UN headquarters in New York City for $32 million. This historic property, used by Qatari officials, features eight bedrooms, a gym, a home theater, and a rooftop garden. The sale is part of Qatar's efforts to divest its US assets.
CBN's Decisive Move: Revocation of Heritage Bank's Licence Amid Financial Concerns
The Central Bank of Nigeria has revoked Heritage Bank’s licence due to ongoing financial issues, asserting that decisive action was needed to preserve stability in the financial system. The NDIC has been assigned as the liquidator, ensuring depositors are protected under the Banks and Other Financial Act 2020.
Significant Drop in Minnesota Hay Stocks: A Detailed Analysis of May 2024 Levels
Minnesota has seen a dramatic 30% drop in hay stocks as of May 1, 2024, with a total of 390,000 tons. This is part of a larger pattern affecting the U.S., where hay disappearance figures are also declining, though overall U.S. hay stocks have increased by 47%. States like Montana, Oklahoma, and Utah reached record highs, contrasting sharply with lows in places like Rhode Island.