Business Economy Finance Fintech January 30, 2025January 30, 2025

UBA Executives Strategize with Group Chairman Tony Elumelu on Future Growth

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Top executives of the United Bank for Africa (UBA) Group convened for a high-level strategic luncheon with the Group Chairman, Tony Elumelu, to review the bank’s milestones in 2024 and outline a bold roadmap for the year ahead. The meeting, which brought together the bank’s leadership, served as a platform to assess achievements, share insights, and discuss innovative strategies to further solidify UBA’s position as Africa’s Global Bank.

UBA’s Group Managing Director, Oliver Alawuba, described the gathering as an inspiring and insightful session that reinforced the bank’s commitment to innovation, growth, and excellence. “Yesterday, the UBA executives joined our Group Chairman, Tony Elumelu, for a truly inspiring luncheon. It was an opportunity to reflect on the achievements of 2024 and share forward-thinking strategies for an even better 2025,” he stated.

Driving Innovation and Strengthening UBA’s Position

As one of Africa’s largest and most influential financial institutions, UBA has consistently set benchmarks in banking innovation, digital transformation, and customer-focused solutions. In 2024, the bank expanded its footprint across key markets, introduced new financial products tailored to the evolving needs of its customers, and reinforced its commitment to financial inclusion and economic development across the continent.

The strategic luncheon provided an avenue for the leadership team to align on the bank’s vision for 2025, emphasizing digital banking advancements, enhanced customer experience, and sustainable financial growth. Under Elumelu’s leadership, UBA has continued to play a pivotal role in Africa’s economic transformation, supporting small businesses, driving financial literacy, and fostering economic empowerment.

A Bold Vision for 2025 and Beyond

The discussions at the meeting underscored UBA’s determination to not only maintain its market leadership but to also redefine banking in Africa through cutting-edge technology, strategic partnerships, and customer-centric policies. Alawuba emphasized the bank’s commitment to staying ahead of industry trends and adapting to the dynamic financial landscape.

“The future is promising, and it is our duty to make it happen!” Alawuba remarked, highlighting UBA’s unwavering dedication to sustainable growth and innovation-driven banking.

As the bank sets its sights on 2025, UBA remains committed to fostering economic prosperity, expanding its global reach, and leveraging technology to provide seamless banking experiences for its customers across Africa and beyond.

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UBA Executives Strategize with Group Chairman Tony Elumelu on Future Growth

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Business Technology Technology Trends January 29, 2025January 29, 2025

Overuse of AI May Lead to Cognitive Decline and Skill Degradation, Experts Warn

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As artificial intelligence (AI) becomes increasingly integrated into daily life, experts are raising concerns about the potential downsides of overreliance on AI-driven tools. While AI can enhance productivity, excessive dependence on it for tasks like writing, decision-making, and problem-solving may have unintended consequences.

Cognitive Decline and Skill Degradation

Analysts warn that constantly using AI instead of engaging in critical thinking and writing can lead to skill erosion. Just as muscles weaken without exercise, the human brain thrives on mental challenges. “The more you rely on AI to generate ideas and content, the less your brain is engaged, potentially leading to cognitive decline over time,” said a neuroscience researcher.

Some studies suggest that intellectual laziness—using AI for tasks one is capable of doing—can reduce neural activity. While AI learns and evolves from user input, the human brain, when underutilized, risks losing its sharpness.

Loss of Authenticity and Originality

Experts also caution that AI-generated content often…

Business Technology Technology Trends January 28, 2025January 28, 2025

DeepSeek: The AI Revolution That Shook the Tech World

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DeepSeek, a Chinese artificial intelligence application launched in 2023 and funded by the High-Flyer hedge fund, has sent shockwaves through the global tech industry. Its emergence has disrupted the U.S. technology sector, triggering over $1 trillion in losses across stock markets and cryptocurrencies.

The scale of DeepSeek’s impact lies in its efficiency, innovation, and strategic breakthroughs that have rattled even the most established players in AI. Here’s why DeepSeek is causing such a stir:

Cost-Efficiency Beyond Compare: DeepSeek reportedly spent just $6 million to achieve what OpenAI accomplished with $100 million, setting a new benchmark for cost-effective AI development.
Defying U.S. Sanctions: Despite sanctions aimed at restricting China’s access to advanced Nvidia chips crucial for AI development, DeepSeek emerged as a testament to China’s technological resilience and ingenuity.
Record-Breaking App Adoption: On January 10, 2025, DeepSeek launched its first free chatbot app. By January 27, it had surpassed OpenAI’s ChatGPT…

Business Economy Finance Fintech January 27, 2025January 27, 2025

A booming continent needs a new payment infrastructure

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Africa is an exciting, vibrant and creative place to do business. But make no mistake, it has its challenges. Currency devaluation, political instability, and service disruptions are endemic. Africa is not for sissies, as the saying goes.

In navigating those challenges, relationships matter. It’s not so much about throwing money at a problem, it’s about investing time, building trust, meeting with partners and regulators, and understanding each other’s needs.

Africa offers an enormous upside for those prepared to make this time investment. The continent’s population is set to reach 2.5 billion (http://apo-opa.co/3W7Kp4w) by 2050, and Africa’s people are embracing digital technology, as the World Bank (http://apo-opa.co/3Waln4F) confirms. They are leveraging digital connectivity to improve their lives, educate themselves, send remittances, and start small enterprises. There is value in investing in that level of human development.

The payments opportunity

Running through this African growth trajectory is…

Business Culture Economy Tourism Travels January 26, 2025January 26, 2025

Owerri: Nigeria’s Hotel Capital Driving Economic Growth

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Owerri, the capital city of Imo State, has emerged as Nigeria’s hotel capital, a title well-deserved due to its thriving hospitality sector and vibrant nightlife. Located in the heart of Eastern Nigeria, Owerri serves as a magnet for tourists, business travelers, and entertainment enthusiasts, making it one of the region’s top destinations.

The hospitality industry in Owerri has seen exponential growth over the years, becoming a cornerstone of the state’s economy. Contributing more than 65% of Imo State’s Internally Generated Revenue (IGR), the sector underscores the significant role of hotels in driving economic activities. From luxury five-star hotels to boutique accommodations, Owerri caters to a diverse clientele, offering world-class facilities, conference venues, and cultural experiences that keep visitors returning.

The city’s appeal lies in its strategic positioning and dynamic culture. Owerri is not only a center for business activities but also a hub…

Business Entertainment January 26, 2025January 26, 2025

A Reflection on Our Financial Reality: How Far Have We Come?

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By Tambuwa Matt Class

Let’s take a moment to examine the harsh financial realities of our lives as Nigerians, realities we often endure without fully understanding the magnitude of their impact.

In 2014, the cost of a 2008 Toyota Corolla Sport was 1.2 million naira. Today, in 2025, that same car—now 17 years old—is being sold for 9 million naira. On the surface, this might seem like a simple case of inflation, but the underlying truth is far more distressing. The real story here is the dramatic devaluation of our currency, the naira, over the past decade.

In 2014, 1.2 million naira was equivalent to $6,000. Fast forward to today, and that same $6,000 is worth about 10 million naira, yet 9 million naira is barely enough to exchange for $5,500. This represents a shocking 700% depreciation in the naira’s value over ten years.

The Price of Living
The implications of this are staggering….

Business Economy Investments Technology Technology Trends Telecoms January 25, 2025January 25, 2025

Zoracom Hosts Transformative StableNet Workshop, Sets New Benchmark in Network Stability

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Zoracom, widely recognized as Nigeria’s leading Network Security Operations Centre (NSOC), has once again demonstrated its commitment to advancing the cybersecurity and network management ecosystem. The company recently organized an exclusive StableNet Workshop, which showcased the latest capabilities of StableNet® 25, a cutting-edge platform designed to revolutionize network stability and observability.

The workshop, held earlier this week, attracted a diverse array of participants, including top professionals, industry experts, and key stakeholders. It provided a dynamic environment for engaging discussions, practical demonstrations, and innovative problem-solving sessions. The event’s central focus was on empowering participants with the knowledge and tools to optimize network operations, with MTN Nigeria serving as a primary case study.

A Resounding Success
The workshop delivered on its promise of fostering growth and innovation, leaving participants highly impressed. Attendees immersed themselves in a comprehensive exploration of StableNet® 25’s powerful features, which are poised to set new industry standards. The event offered…

Business Culture Economy Leisure News Opinion Trends January 25, 2025January 25, 2025

OPINION: Lessons from the Hilda Baci Pepper Soup Saga

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Recently, social media was ablaze with a young lady’s grievances over spending ₦6,000 on pepper soup at Hilda Baci’s restaurant, which she likened to “dog vomit.” While her complaint drew widespread attention, it also sparked deeper questions about personal choices, priorities, and social expectations in today’s celebrity-driven culture.

1. Supporting Local Over Celebrity Brands
One has to wonder if the lady in question has no friends, neighbors, or acquaintances running food businesses within Lagos. These are people she knows personally—whose hygiene, cooking skills, and accountability she can vouch for. Instead of supporting those closer to her, she chose a celebrity-owned restaurant, likely drawn by the allure of Hilda’s fame as a Guinness World Record holder.

But why? Was the goal to say, “I ate at Hilda Baci’s restaurant”? If so, the complaint feels more like regret for a failed attempt at celebrity proximity than a genuine critique of service. Supporting local businesses…