General News
Statistics Indicate Freight Markets Down in March
The International Air Transport Association (IATA) has released figures showing that air freight markets weakened in March, 2013 and that the improvement in air cargo growth rates that began towards the end of 2012 has stalled.
Global Freight Tonne Kilometers (FTKs) were down 2.3% in March compared to March 2012, with only the Middle East and Africa showing an expansion.
Asia-Pacific carriers are the largest players in air freight (together they comprise 38.5% of the market). With a 3.3% fall compared to the previous year, this region showed the greatest weakness in terms of actual freight volumes.
The US and Europe, however had larger percentage falls (5.2% and 4.0% respectively), but on a smaller market share. Global air freight volumes are now only 1.5% above the October 2012 low point, down from the 3.5% rise that had been reached in January.
“The March decline in air cargo is most likely a temporary stall. The fundamentals for a sustained improvement in air cargo volumes are in place. Business confidence continues to signal forthcoming expansion, and the solid increase in new export orders seen in 2013 should boost air freight in the coming months.
“Much of the current weakness is coming from Asia-Pacific airlines. While the region is economically strong, the economies of its trading partners are not. The Eurozone is showing renewed weakness and the negative impact of US budget cuts is yet to be fully measured,” said Tony Tyler, IATA’s director general and CEO.
Regional highlights according to the report show that after adjusting for seasonal factors, it is clear that the improving trend witnessed in the fourth quarter of 2012 has been reversed. The global load factor slipped marginally to 46.7%, and capacity fell by 0.3%.
Asia-Pacific carriers saw cargo traffic fall 3.3% compared to March 2012. Airlines in the region have experienced most of the weakness in the global trend, with a 3% drop in volumes in March compared to January this year. Although regional indicators are still solid, major trade partners in Europe continue to be hampered by economic weakness and sovereign debt problems. Capacity also fell, down 2.8%, compared to a year ago.
North American airlines experienced a 5.2% decline in demand, the steepest fall of any region. Capacity was reduced by 2.7%. While domestic demand has supported regional cargo carriers, routes to Europe have been hit by declines in export markets.
European cargo markets fell 4.0% and capacity grew 0.4%. Several European confidence indicators declined in March and much of Western Europe remains in or close to recession.
Middle East airlines’ cargo traffic grew 10.5%, continuing their remarkable start to 2013. The region has grown 12.4% faster for the year to date compared with the same period last year. In March, capacity was up 9.1%.
Latin American carriers saw demand fall 0.8% while capacity grew 2.6%. The underlying economic growth trend in the region is still solid and airlines are maintaining the improvement in demand since late 2012. Export growth to North America and China is supporting international freight routes.
African cargo markets grew 3.2%, benefitting from strong growth in regional developing economies. Capacity, however, grew by 10.0% which led to the load factor declining to 25.0%, the lowest of all regions.
General News
PalmPay Supports Nigeria Police Force National Cybercrime Centre 2025 Cybersecurity Awareness Walk

PalmPay, a Nigerian leading digital banking platform, supported the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) during its Cybersecurity Awareness Walk held in Abuja as part of activities marking the 2025 Cybersecurity Awareness Month.

Themed “Secure Our World,” the event brought together key stakeholders from law enforcement, regulatory bodies, and the private sector to promote public awareness on cybersecurity, financial fraud prevention, and safe online practices.
PalmPay joined other participants in advocating for stronger public vigilance and safer digital engagement, reaffirming its commitment to supporting national efforts that enhance cybersecurity and consumer protection.
Speaking during the event, PalmPay’s Managing Director, Mr Chika Reginald Nwosu, commended the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) for its efforts in combating cybercrime and protecting consumers. He emphasised the need for continued collaboration across sectors to build a safe and secure payment ecosystem for all Nigerians.
“We commend the NPF-NCCC for its proactive leadership in driving cybersecurity awareness,” said Nwosu. “At PalmPay, we are committed to supporting initiatives that promote digital safety and foster trust in Nigeria’s growing digital economy.”
At the event, PalmPay was commended for its outstanding efforts in strengthening regulatory engagement and advancing consumer protection initiatives across the fintech industry.
The partnership underscores PalmPay’s ongoing commitment to promoting cybersecurity awareness, consumer protection, and fraud prevention as part of its mission to create a safer digital financial ecosystem in Nigeria.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
General News
Fidelity Bank Salutes Air Peace for Flying Nigeria’s Flag to Heathrow

Fidelity Bank Plc has congratulated Air Peace on the successful launch of its maiden direct flight from Lagos to London Heathrow, describing the milestone as a significant achievement for Nigeria’s aviation sector and a testament to the power of indigenous partnerships.

The commendation was delivered by Dr. Nneka Onyeali-Ikpe, managing director of Fidelity Bank, during a special event held in Lagos to celebrate the airline’s expansion into the European market.
“This is not just a win for Air Peace, but a win for Nigeria,” Onyeali-Ikpe said. “It reflects the strength of home-grown businesses and the impact of strategic financial support in enabling national champions to thrive on the global stage.”
Nigeria CommunicationsWeek reports that Fidelity Bank has played a pivotal role in Air Peace’s growth, providing early financial backing and advisory services that helped the airline become the largest carrier in West Africa. The bank continues to support Air Peace through payment processing and other financial services
The launch of the London route marks a new chapter for Air Peace, which now joins a select group of African airlines operating direct flights to Heathrow.
The development is expected to boost tourism, trade, and connectivity between Nigeria and the United Kingdom.
Speaking at the event, Allen Onyema, Chairman of Air Peace, expressed gratitude to Fidelity Bank for its unwavering support and reaffirmed the airline’s commitment to excellence and service.
“This partnership has been instrumental in our journey,” Onyema said. “We are proud to fly the Nigerian flag across international skies.”
Industry stakeholders present at the event praised the collaboration between the two companies as a model for sustainable business growth and national development.
General News
After MultiChoice Buyout, Canal+ Eyes Full Ownership of Showmax

Canal+, French media giant, is reportedly eyeing the full takeover of Showmax, the African streaming platform jointly owned with MultiChoice Group.

This followed its recent push to expand across the continent’s digital entertainment market.
The move comes after Canal+ completed its acquisition of MultiChoice to strengthening its hold on Africa’s pay-TV and streaming ecosystem.
With Showmax being a key growth asset under the partnership, industry analysts say a full takeover could give Canal+ end-to-end control of content production, distribution, and subscription revenue in multiple markets.
The acquisition would also align with Canal+’s broader strategy to rival global streaming giants such as Netflix and Amazon Prime Video by leveraging African content demand and localized storytelling.
According to RipplesNigeria, Ayo Balogun, Media and Telecoms Analyst, CardinalStone Partners, while reacting to the move, said: “Canal+’s full acquisition of Showmax would mark a decisive step in consolidating Africa’s digital media value chain.
“With MultiChoice now under its control, Canal+ can fully integrate content, distribution, and streaming into a single monetizable ecosystem—something we’ve not seen before on this scale in Africa.”
Thandiwe Mokoena, Senior Media Strategist, Johannesburg, added: “This move gives Canal+ strategic dominance in both the pay-TV and OTT spaces. It positions them not only as a regional player but also as a continental gatekeeper for premium African content. The competitive pressure on Netflix and Amazon Prime Video in Africa will rise sharply if this takeover goes through.”
Financial markets are closely watching how the potential consolidation could reshape Africa’s media landscape, particularly in terms of valuation, competition law, and licensing rights.
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