Business News Round Up From August 1-August 5, 2022

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Naira Depreciation: Business Owners Recount Struggles

The subject of the exchange rate has become a topical issue in Nigeria following the devaluation of the naira as one US Dollar is now traded at N712.

The devaluation of the naira has proven disastrous to production, citizens, importation, exportation, goods, economy and most especially business owners as prices of goods have skyrocketed due to importers passing the increased prices to retailers. Read more here

Dangote Cement Boosts Production, Deploys Grinding Plants In Ghana, Cote d’Ivoire

Alhaji Aliko Dangote

Michael Puchercos, the Chief Executive Officer, of Dangote Cement, has disclosed that the company is boosting production in its Okpella plant, in Nigeria, and progressing to deploy grinding plants in Ghana and Cote d’Ivoire to ensure cement becomes available in all African countries.

According to a statement from the company, when the grinding plants finally become operational, Ghana and Cote d’Ivoire would join the list of African countries. Read more here.

GTCO Launches POS App For Android Phones

In a bid to provide a payment solution that is affordable and reliable for all kinds of businesses, Guaranty Trust Holdings has launched SquadPOS, a new technology which allows business owners to turn their android phones into POS terminals.

SquadPOS is an application which accepts cashless payments with mobile devices for business owners without the use of additional hardware such as a physical POS device. Read more here

Air Transport Association Says Passengers Demand Increases By 103.6%

For June 2022, the International Air Transport Association’s passenger data has revealed that there has been a 103.6 per cent increase in passengers' demand.

According to the data, the total traffic generated in June 2022 which was measured in revenue passenger kilometers was up 76.2 per cent compared to June 2021. Read more here

Q2 2022: Dangote Cement Records 17% Increase In Revenue Growth

Dangote Cement  Plc has released its financial result for the year ended June 31, 2022, which shows that the company recorded a group revenue of N808 billion for the half year, indicating a 17 per cent, compared to N690.55 billion recorded in 2021.

Michel Puchercos, the Chief Executive Officer, Dangote Cement, speaking on the result said, “Despite the elevated inflation due to a very volatile global environment, the first half of 2022 has been positive. Read more here

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world