Daily Juice
Amazon to acquire the maker of Roomba vacuums for roughly $1.7 billion
Herconomy Updates
We Are Live on Android and iOS🎉
Our Herconomy app is now live on Android and iOS to make saving much easier for you!
Head on to the Google play store and iOS App store to download the app NOW!
And don’t forget to set up your easy save, with as little as 50 Naira.
Herconomy X Google
Is the state of the economy affecting your business?
Concerned about the increasing exchange rate?
Do you want to power your business to the next level?
Then apply for the Google Hustle Academy Business Bootcamp
To register,
1. Visit www.herconomy.com
2. Click on the Events Tab
3. Select the Google Hustle Academy and proceed to register.
Herconomy Conversations
Join us live on Instagram, this Tuesday, 9th August 2022 with our founder Ife Durosinmi-Etti, our CTO Rahmat Lasisi and our Associate Product Manager as we take you through our new Herconomy app.
Click on the link below to follow us on Instagram so you do not miss out on this session.
Herconomy Lightbox Session
We are all about the entrepreneurs this month.
Have you ever wondered what you can do to ensure your business is successful?
Then join our Lightbox session this Thursday 11th August by 8 pm titled “Keeping Your Business Afloat with Cash Management” with Uwaoma Eizu, who is the lead strategist at Hexavia, as he shares insights on how to keep your business afloat with money management techniques with his over a decade of experience working with start-ups and big businesses.
Click on the link below to register.
Share Your Reviews With Us!
Have you been saving with Herconomy?
We now have over 2,000 active users on our web app and we would like to know how your experience with us has been.
Thank you for trusting Herconomy to help you achieve your savings goals.
Looking forward to your reviews!
Tech Updates
Amazon to acquire the maker of Roomba vacuums for roughly $1.7 billion
Amazon is acquiring iRobot for $61 a share in an all-cash deal that values the Roomba maker at $1.7 billion, the companies announced Friday. Read more…
SoftBank posts a $21.6 billion quarterly loss on its Vision Fund, one of the highest in its history
SoftBank posted one of its biggest losses at its Vision Fund investment unit for its fiscal first quarter, as technology stocks continue to get hammered amid rising interest rates. Read more…
Tesla shares are about to get a lot cheaper with the three-for-one stock split
Tesla officially announced a three-for-one stock split, meaning the company's stock price — which has jockeyed between $600 and $1,000 for a year — is about to get more affordable for investors. Read more…
Business Matters
Debt servicing to hit N10.43tn, economists slam FG
The Federal Government has projected that debt servicing will cost N10.43tn by 2025, according to the 2023-2035 Medium Term Expenditure Framework & Fiscal Strategy Paper. Read more…
Nigeria loses N891bn to gas flaring
Nigeria lost N891bn to gas flaring in 18 months, according to data from the Nigerian Oil Spill Monitor, an arm of the Nigerian Oil Spill Detection and Response Agency, NOSDRA, released on Sunday. Read more…
FG to implement telecoms, and beverage taxes in 2023
The Federal Government through the Budget Office of the Federation has revealed that it will begin implementing its proposed excise duties on telecommunication services and beverages in 2023. Read more…
Nigerian Pension Fund Administrators pay N49.5 billion in taxes in 3 years
Pension Fund Administrators (PFA) in Nigeria incurred a sum of N18.85 billion as income tax in 2021, a 15.6% increase compared to N16.31 billion spent in the previous year, and a 31.4% increase when compared to N14.35 billion incurred in 2019. This brings the total tax expenses in the past three years to N49.5 billion, according to a report by the National Pensions Commission (PenCom). Read more…
Tight monetary policy threatens FG’s N720bn borrowing plan
The Federal Government’s plan to borrow about N720 billion through FGN bond auctions in the third quarter, Q3’22, has come under fresh threat following increasing investors’ appetite for higher yields triggered by the adoption of tight monetary policy of the Central Bank of Nigeria, CBN. Read more…
Business reorganisation lifts NGX’s H1 earnings to N4.22b
The group’s unaudited result for the half year ended June 30, 2022, showed a 138.3 per cent rise in gross earning to N4.22 billion, from N1.77 billion recorded in the corresponding period in 2021. Read more…
70 CSOs reject the proposed 5% telecommunications services excise duty
A Coalition of over 70 Civil Society Organisations (CSOs), the Nigeria Civil Society Situation Room, yesterday urged the Federal Government to desist from increasing and introducing new taxes on Nigerians, particularly the proposed five per cent inclusive excise duty on telecommunications services, raising the tax to 12.5 per cent. Read more…
NPA may grant 30% tariff relief on shipments to eastern ports
The Nigerian Ports Authority (NPA) has indicated its intention to increase tariff relief by as much as 30 per cent for service providers, as part of a multi-pronged approach to attract more vessel and cargo traffic to the Eastern ports. Read more…
CBN urges operators to repatriate earnings to ease pressure on forex
The Central Bank of Nigeria (CBN) has advised members of the organised private sector (OPS) to always ensure that they repatriate foreign exchange (FX) proceeds to the apex bank in order to ease FX pressure in the country. Read more…
Quote of the Day
“Once you have commitment, you need the discipline and hard work to get you there." —Haile Gebrselassie