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Jumia announces dates for 2017 Black Friday Festival

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Jumia Nigeria has announced the dates and partners for its biggest sales event of the year, Jumia Black Friday 2017!

This year’s event is billed as the Jumia Black Friday Festival and will run for 31 days from November 13th to December 13th 2017 on www.Jumia.com.ng.  It will be the largest shopping event in Nigeria with up to 1 million amazing deals and discounts on offer at up to 80% off.

To bring customers the best deals, the e-commerce giant has partnered with Intel, Pampers, Infinix, Philips, Fero, HP, MTN, AirFrance-KLM and about 1,000 top brands.

The 2017 Jumia Black Friday will feature a first-of-its-kind event for shoppers as Jumia partners with music entertainment TV station, TRACE Naija to create the Trace Jumia MAD (Music and Deals) Fest. It’s a live event that will offer the explosive combination of Nigerian music and Black Friday frenzy for customers and attendees alike. The Trace Jumia MAD Fest will place on the 18th of November 2017 at the King’s College grounds in Victoria Island, Lagos. While registration is required, attendance is free.

Performers at the TraceJumia MAD Fest include Falz, Simi, 9ice, Mayorkun, Niniola, Lil Kesh, Sound Sultan, Skales, Pencil, DJ Xlusive, Wande Coal DJ Consequence, Nedu and a host of comedians, and musical acts will be thrilling the customers to incredible app flash sales and lots of giveaways.

“Customers will have the chance to enter a lottery to win one of the five FREE AirFrance-KLM return tickets to London, 20 discounted AirFrance-KLM tickets at 35% off”

Included in this year’s Jumia Black Friday shopping activities is an online wheel of fortune which churns out exclusive shopping vouchers. Also on the line-up are hourly flash sales and app-only deals with super low prices. Customers will have the opportunity to also enjoy discounts from Jumia Food and Jumia Travel.

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As part of the 31 days of Jumia Black Friday, customers will have the chance to enter a lottery to win one of the five FREE AirFrance-KLM return tickets to London, 20 discounted AirFrance-KLM tickets at 35% off, and a brand new Ford Figo courtesy of Coscharis Nigeria Limited. Shoppers on Jumia.com.ng will also enjoy 10% discount off when payment is made with an FCMB bank account via JumiaPay.

While commenting on Jumia Black Friday 2017, Chief Executive Officer, Juliet Anammah stated, “We know customers are always on the lookout for the best deals. I can assure you that the Jumia Black Friday Festival 2017 will not just meet those expectations, but also provide shoppers with seamless customer experience and protections.”

Anammah said that the Jumia website would see a significant increase in inventory across all categories including: fashion, electronics, phones, computers, home, baby, health, beauty, travel and food, with up to 80% discount on regular prices on up to 1,0000,000 products from 15,000 vendor merchants.

Customers who download the Jumia mall app will also receive special vouchers and access to flash sales in addition to instant push notifications when deals go live.

Black Friday is marked around the world on the fourth Friday in November after the American Thanksgiving Day holiday. Both offline and online stores offer exclusive deals on that day. It has since become an iconic shopping event where consumers have been known to go to extremes in order to secure the best deals.

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Bitcoin Hits $50,000 For First Time Since 2021

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A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the “Bitcoin Change” shop in the Israeli city of Tel Aviv. (Photo by JACK GUEZ / AFP)

Bitcoin surpassed the $50,000 mark on Tuesday, marking its highest value in over two years.

Investor optimism surged as anticipation grew regarding broader trading approval in the US, with hopes riding high on potential green lights for cryptocurrency exchange-traded funds (ETFs).

Despite an initial dip following Washington’s approval signal last month, Bitcoin has rebounded impressively, boasting a 25 percent rally since January 22.

As of the latest data from Bloomberg, the cryptocurrency peaked at $50,328, underscoring the resilience and upward momentum in the crypto market, leaving observers optimistic about its future trajectory.

“Enthusiast buyers bring in more enthusiast buyers pushing prices further up,” Fadi Aboualfa, of Copper Technologies, said.

“The cryptocurrency has momentum on the back of several green weeks and has a large chance of going up further when markets see weekly movements upwards of 10 percent (as we saw last week).”

By 0330 GMT Tuesday, bitcoin had dropped slightly, to $49,950.

While Bitcoin has made an impressive recovery, currently standing above $50,000, it still lags significantly behind its peak value of nearly $69,000 in 2020. This rally signals a bounce-back for the cryptocurrency, which faced turbulent times marked by high-profile scandals and collapses within the crypto industry.

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Last year, FTX, the world’s second-largest crypto exchange, suffered a dramatic downfall, with its CEO, Sam Bankman-Fried, now confronting potential consequences. Prosecutors have characterised the situation as “one of the biggest financial frauds in American history,” and Bankman-Fried faces the looming threat of up to 110 years in prison.

In November, Changpeng “CZ” Zhao resigned as CEO of Binance, the world’s largest crypto exchange, following both his and the company’s admission of guilt in extensive money laundering violations.

Bitcoin’s upward trajectory is further fueled by optimism surrounding potential interest rate cuts by the US Federal Reserve this year, as inflation appears to be easing. The cryptocurrency’s value is also influenced by an anticipated supply crunch next year, attributed to the recurring event known as “halving.”

Bitcoin, earned through intricate problem-solving by powerful computers in a process called “mining,” experiences a reduction in reward every four years. With the next “halving” scheduled for April, the limited supply dynamic continues to be a driving force behind Bitcoin’s value surge.

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Microsoft Joins Apple In $3 Trillion Club

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Microsoft joined Apple on Wednesday as a three trillion dollar company, as its big bet on artificial intelligence continued to impress Wall Street.

Now second to Apple as the world’s biggest company by market capitalization, Microsoft’s shares were up 1.31 percent at $404.

 

Apple remains narrowly in first place at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022.

 

But it has fallen below the milestone, even briefly losing the pole position as biggest company on the markets when Microsoft briefly overtook the iPhone maker earlier this month.

 

Microsoft more than any other tech giant is riding the wave of excitement over AI.

The Redmond, Washington-based group has a major partnership with OpenAI, creator of ChatGPT, that is reportedly worth $13 billion.

Since the arrival of ChatGPT, Microsoft has launched several products enabling companies and individuals to use the capabilities of generative AI, notably via its Bing search engine and Copilot virtual assistant.

Since the launch of ChatGPT in early November 2022, Microsoft shares have gained some 67 percent, with Apple’s up by about 40 percent.

Microsoft publishes its results on January 30.

 

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Nigeria: Shell Announces Sale of Onshore Oil Assets

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In an aerial view, gas prices nearing $6.00 a gallon are displayed at a Shell gas station on February 23, 2022 in San Francisco, California. Justin Sullivan/Getty Images/AFP

Shell has announced a deal to offload its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance.

The acquiring entity, Renaissance, stands as a consortium comprising four local exploration and production companies in Nigeria, alongside an international energy group.

Shell,  in a Tuesday statement on its website, said, “Completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions.

“Transaction will preserve SPDC’s operating capabilities for the benefit of a joint venture. The transaction has been designed to preserve the full range of SPDC’s operating capabilities following the change of ownership. This includes the technical expertise, management systems, and processes that SPDC implements on behalf of all the companies in the SPDC Joint Venture (SPDC JV)”.

But, it said, “SPDC’s staff will continue to be employed by the company as it transitions to new ownership”.

Shell emphasised  that amidst the competitive landscape, the company remains committed to supporting the management of SPDC JV facilities. These facilities play a crucial role in supplying a significant portion of feed gas to Nigeria LNG (NLNG), highlighting Shell’s dedication to assisting the nation in maximizing value from its NLNG endeavors.

“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta, simplifying our portfolio and focusing future disciplined investment in Nigeria on our Deepwater and Integrated Gas positions,” Shell’s Integrated Gas and Upstream Director Zoë Yujnovich said.

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“It is a significant moment for SPDC, whose people have built it into a high-quality business over many years. Now, after decades as a pioneer in Nigeria’s energy sector, SPDC will move to its next chapter under the ownership of an experienced, ambitious Nigerian-led consortium.

“Shell sees a bright future in Nigeria with a positive investment outlook for its energy sector. We will continue to support the country’s growing energy needs and export ambitions in areas aligned with our strategy.”

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