Business
5TH AFRIMA DEBUTS 4 NEW AWARD CATEGORIES
…DJs, Dancers, Artistes in the Diaspora can now win the AFRIMA 23.9k
Gold-plated Trophy
The fifth edition of the All Africa Music Awards, AFRIMA, in partnership with the African Union Commission, has debuted four new award categories to enjoin inclusiveness and expand the playing field in the awarding process for African music and creative professionals who have begun to send in their entries for the 5th AFRIMA on the online submission portal that opened on Friday, May 25 to commemorate the 2018 Africa Day.
The newly introduced award categories namely African DJ of the Year; Best African Dance/Choreography; African Lyricist/Rapper of the Year and Best African Act in Diaspora (Female & Male), were carefully arrived at after extensive consultations with African music stakeholders which included the AFRIMA Academy of Voters and members of the International Committee of AFRIMA in response to the yearnings and requests of stakeholders, DJ’s, dancers and artistes in diaspora. This process attests to the objective of
AFRMA to use the African creative industry to showcase the unique cultural heritage of Africa to the rest of the world while celebrating innovations and diversification in Africa’s contemporary music industry.
AFRIMA awards categories are divided into two: Continental and Regional categories. The Continental Category rewards African artistes in various music genres and forms ranging from pop, hip hop, inspirational, jazz, electro, DJ and more, while the Regional Category celebrates the outstanding achievements of African artistes within their specific region of origin.
African DJ of the Year; Best African Dance/Choreography; African Lyricist/Rapper of the Year and Best African Act in Diaspora all fall under the Continental Category. In addition, the Best African Act in Diaspora is dedicated to artistes with African roots/origin who practice their craft in the international music industry and have prominence and renowned on the international music stage. The artiste’s music style could either be in the traditional or contemporary forms of expression.
Commenting on the welcome development, the Jury Member representing Africa music in the Diaspora (North America), Hadja Kobélé Keita said: “AFRIMA have given African artistes, for the past few years, an opportunity to capture the attention of an extension and comparatively distinct swath of the public, while emphasising on the unique importance of our diverse African musical culture. The addition of the Diaspora category is a direct emphasis on the critical role Africans in diaspora have as the ambassador of our culture on a global scale”. Music videos, songs or recordings sent to the AFRIMA online submission platform www.afrima.org must be produced, recorded or written (in the case of songwriters) by African music professionals and publicly released within the eligibility period of August 1, 2017 to August 1, 2018. The award is open to music artistes, producers, songwriters, video directors,DJs, choreographers/dancers who stand a chance to win the AFRIMA 23.9k gold-plated trophy in one or more of the awards 36 categories. AFRIMA also has a special AFRIMA Legend Award category which recognises the special lifetime achievements of living or dead African music icon as jointly determined by the African Union, International Committee of AFRIMA and the AFRIMA Jury.
Following the culmination of submission period is the adjudication process where the AFRIMA 13-man Jury will, over two weeks, oversee the thorough and fair screening, categorising and assessment of entries received. The adjudication period ends with the unveiling of the AFRIMA 2018 Nominees List. The 5th AFRIMA with the theme “Africa is Music” will be celebrating the innovative sounds created by African artistes promoting the dynamism of traditional and contemporary African music, while creating a global market for the sustainability of African arts and culture.
Also to be featured as part of activities scheduled for the main awards events is the Africa Music Business Roundtable, a combination of musical conference and trade expo where stakeholders in the creative and arts industry come together to discuss the business of music in Africa. There is also the AFRIMA Music Village, a music concert and cultural festival that accommodates over 40,000 music lovers across the continent who witness live performances from their favourite African artistes.
The main awards ceremony is slated to come up in November 2018 and it will be broadcast live to 84 countries around the globe.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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