Nigeria: Lagos leads in viability index, as Bauchi, Yobe, Borno, Kebbi, Katsina emerge most insolvent states – Report

The Annual States Viability Index ( ASVI) complied by Economic Confidential, Nigeria’s leading economic magazine has revealed that 17 of the nation’s 36 states are insolvent as their Internally Generated Revenues (IGR) in 2017 were far below 10% of their receipts from the Federation Account Allocations (FAA) in the same year.

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IFC Venture Capital Leads $8.6m Series A Investment in Africa’s Talking

IFC, a member of the World Bank Group, today announced that it led the $8.6 million Series A equity investment in Africa’s Talking, a Kenyan based communication-platform-as-a-service (“cPAAS”) API startup, to enable the startup to expand its footprint across the continent. As part of the deal, Wale Ayeni, who leads IFC’s venture capital activities in Africa will join the board; other investors in the round include global venture capital funds, Orange Digital Ventures and Social Capital.

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Multilateral development banks present study on technology’s impact on jobs

Rapid technological progress provides a golden opportunity for emerging and developing economies to grow faster and attain higher levels of prosperity. However, some disruptive technologies could displace human labour, widen income inequality and contribute to greater informality in the workforce. Tapping new technologies in a way that maximizes benefits, mitigates adverse effects and shares benefits among all citizens will require public-private cooperation and smart public policy.

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