Daily Juice
Scotland is now the world’s first country to offer period products free
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.
We are Hiring!
Do you want to join the Herconomy team?
Are you qualified for any of the positions above?
Then send your CV to hr@herconomy.com today to apply!
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
Click on the link below to register.
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Herconomy Lightbox Session
Despite dwindling resources, economic downtimes and inflation, have you ever wondered how some millennial women manage to remain comfortable and enjoy a level of wealth? We’ve got you!!!
Join us this tomorrow, Thursday 18th August 2022 as our speaker Oler Oladele (founder of the Money Wits Club) lets us in on the Financial Secrets of the Wealthy Millennial Woman.
Please save the date on your calendar so you don’t miss it!!!!
Click on the link below to register.
Tech Updates
Hytch abandons car-pooling and becomes a B2B logistics startup
Hytch, a Nigerian ride-hailing startup that launched to the public in May this year to help people share rides and move faster and cheaper, will no longer provide car-pooling services. Read more…
BlackRock makes a $700 million investment in Australian battery storage
A fund under the management of BlackRock Real Assets is set to acquire Akaysha Energy, an Australian firm that develops battery storage and renewable energy projects. Read more…
Elon Musk sells $6.9bn of Tesla shares as Twitter lawsuit looms
Tesla boss Elon Musk has sold another 7.92 million shares in the electric car maker, worth around $6.88bn (£5.7bn). Read more…
International Stories
Scotland is now the world’s first country to offer period products free
Scotland, a United Kingdom nation, has made history in the global efforts to end period poverty by offering tampons and other period products free to anyone in need of them. Read more…
UK inflation jumps to new 40-year high
British inflation surged to a new 40-year high in July on rising food prices, official data showed Wednesday, adding to a cost-of-living crisis as the country faces the prospect of recession. Read more…
Business Matters
Oil firms spill N711bn crude oil, degrade the environment
Environmental rights activists have raised the alarm over the continuous environmental degradation as estimation puts the total value of oil spilt by operators in the Niger Delta at N711bn. Read more…
Resolve $753m, N1.61bn debts, Reps orders NPA
The House of Representatives Committee on Public Accounts, on Tuesday, ordered the Nigerian Ports Authority to immediately call a meeting with firms operating Nigeria’s ports to determine their actual indebtedness to the Federal Government. Read more…
Power generation falls by 503MW, workers threaten strike
Nigeria’s power generation dropped by 502.7 megawatts on Tuesday as members of the National Union of Electricity Employees and their counterparts in the Senior Staff Association of Electricity and Allied Companies grounded the nationwide operations of the Transmission Company of Nigeria the same day. Read more…
FG to launch $750m World Bank-backed programme
The Presidential Enabling Business Environment Council, on Tuesday, unveiled its plans to kickstart a $750m World Bank-funded programme in January next year. Read more…
Mobile transactions in Nigeria hit N9.2 trillion in 7 months of 2022 – NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has revealed that bank customers in Nigeria transferred a total of N9.2 trillion over mobile devices between January and July this year. The 7 months data just released showed a surge in the usage of mobile for financial transactions as the value of deals over the platform has surpassed N8 trillion recorded in the full year 2021. Read more…
Nigeria’s leading FMCGs grow revenue to N504.719 billion in half year 2022
Nigeria’s leading consumer goods companies earned a whopping sum of N504.7196 billion as revenue in the half year of 2022, outperforming their earnings in the corresponding period of 2021 of N126.08 billion. Read more…
Equities’ rebound lifts indices by N43 billion
Following gains recorded by BUA Cement and nine other stocks, the Nigerian Exchange Limited (NGX) rebounded yesterday, causing market capitalisation to inch up by N43 billion. Read more…
Quote of the Day
“Courage is resistance to fear, mastery of fear—not absence of fear.”
—Mark Twain