Daily Juice

Rising public debt worrisome, fuel subsidy unsustainable – FAAC

Herconomy Update

CBN Award Nomination🎉

Herconomy was nominated for an award for driving financial inclusion in Nigeria!!! This encourages us that we are moving in the right direction and it is all thanks to YOU! Yes, YOU!!!

According to the Global Findex Report, only about 35% of women have bank accounts, as disappointing as this may sound, it is still the highest in 10 years!

A key factor of this growth is Technology, which is where we come in.

We are building a bank for women, by women.

Join us today by Downloading the Herconomy app.

Partner Corner

Save as You Spend With Herconomy And Hikky’s Hair

The time is upon us when Black Friday deals are starting to appear in your inboxes and all over social media.

Hikky's Hair is having her Black Friday sale across luxurious wigs, bundles and frontals from November 20th — November 26th.

20% off every item purchased!!!

Note: This is an in-store sale only.

You do not want to miss out! Add a reminder to your calendar…do it now!

Tech Update

Kenya’s Twiga dismisses in-house sales team, affecting 21% of it

s employees

Kenya’s B2B e-commerce food distribution platform Twiga has laid off 211 of its full-time employees following a restructuring that has eliminated the company’s in-house sales team. Read more…

Business Matters

Naira depreciation and inflation erode workers’ N25tn salaries

The endless depreciation of the naira and the rising inflation have eroded Nigerian workers’ N24.88tn salary received in the first six months of 2022. Read more…

Nigeria’s poverty exceeds World Bank projection, five states lead

The National Bureau of Statistics has disclosed that 133 million Nigerians are multi-dimensionally poor. In its latest National Multidimensional Poverty Index report launched on Thursday, the NBS said that 63 per cent of Nigerians were poor due to a lack of access to health, education, living standards, employment and security. Read more…

Rice, maize production to slump 11.5% – AFEX

The Nigerian commodities market player, AFEX has projected an average decline in production of up to 11.5 per cent across commodities like maize, paddy rice, sorghum, and cocoa. Read more…

Rising public debt worrisome, fuel subsidy unsustainable – FAAC

The Federation Account Allocation Committee Post-Mortem Sub-Committee has said that the rising public debt is worrisome while describing fuel subsidies as unsustainable. Read more…

AfDB invests $20m in Africa’s renewable energy

The Board of Directors of the African Development Bank Group today approved an equity investment of $20m in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400m into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period. Read more…

Quote of the Day

“Ambition is enthusiasm with a purpose.”
—Frank Tyger