Business
Music Superstar, Akon to Host AFRIMA 2017 in Lagos
Multi-award winning African-American music star, Akon, has been unveiled as host of the 4th annual All Africa Music Awards (AFRIMA) scheduled to hold on Sunday, November 12, 2017 at the Eko Convention Centre of the Eko Hotels and Suites, Victoria Island, Lagos, Nigeria.
According to a statement by the African Union Commission and the International Committee of AFRIMA made available to the media on Tuesday, October 31, the Senegal-born superstar will handle the event proceedings of the live broadcast award show scheduled to air live on over 80 television stations and online platforms across the world with support from the co-host, Ms. Sophy Aiida, a Cameroonian-French entertainment broadcaster.
With a track record of outstanding success in the global music industry that has brought immense recognition to Africa’s creative energy and originality, Akon, a multi-Grammy award winning singer, songwriter, record producer and actor, has put his name in the Guinness Book of World Record as the number one selling artiste for master ringtones in the world.
Ranked the fifth most powerful celebrity in Forbes’s Africa list of 40, Akon is also a business man and philanthropist who is passionate about the African continent. He provides electricity for 15 African countries through his “Light Africa Project” and supports underprivileged African youngsters through his Konfidence Initiative. He runs music labels, Konvict Music and Kon Live Republic successfully.
Co-host Sophy Aiida is a prolific broadcaster who is known on radio as Cameroon’s biggest-girl-next-door. Sophy was born in Paris, moved to New York where she spent 15 years before returning to Cameroon to contribute to her homeland. The multilingual and multi-talented woman is regarded as one of Central Africa’s biggest show host. Sophy has also acted in rave African French-speaking movies and has also dropped a debut single. Sophy Aiida is the co-founder of the Nakande Project, an initiative that supports the emergence of great young women through its education, empowerment and mentorship programmes. She has hosted various annuals show and events in Africa.
Meanwhile, Africans on the continent and in the diaspora are in eager anticipation for the AFRIMA 2017 main awards ceremony and the AFRIMA Music Village scheduled to hold on Friday, November 10. The Music Village is an evening of non-stop open music festival of live performances from African stars and nominees, with an audience of 40,000 people. It will also be broadcast live and produced by a prominent experiential marketing/production agency in Africa, Backstage Pro.
The annual All Africa Music Awards in partnership with the African Union Commission, is a celebration of Africa by rewarding the creativity and originality of African artistes and songwriters with the resplendent 23.9 carat gold-plated AFRIMA trophy. The 2017 Main Awards Ceremony, in association with Lagos State of Nigeria, the Official Host City, will be a colourful, performance-packed event graced by music stars, industry legends, captains of industries, diplomats, government officials, music lovers across the continent. The event will be broadcast live across 84 countries in Africa.
Also lined up for the weekend of AFRIMA 2017 is Africa Music Business Roundtable in Association with TRACE with the theme, Digital Takeover: Shaping the Future of African Music (November 10). AMBR is a platform created by AFRIMA for engagement on music, money, media and evolving global business practices as they affect the creative industries in Africa.
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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