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Swiss Cement Giant Holcim Sells Lafarge Stake to China’s Huaxin, Exits Nigeria

By
Samuel Nwite
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0

Swiss cement giant Holcim has announced its planned exit from Nigeria, a decision attributed to unfavorable economic conditions under intense competition with other players in Nigeria.

The company, which held an 84% stake in Lafarge Africa, disclosed on Sunday that it has sold its stake to China’s Huaxin Cement for $1 billion. According to a Reuters report, the deal, slated for completion by 2025, remains subject to regulatory approvals.

Holcim described the move as part of its broader strategy to streamline operations and refocus on high-growth regions, particularly North America, where it plans a U.S. listing in 2025.

Holcim, a global leader in cement manufacturing, emphasized that its decision aligns with a renewed focus on sustainable growth in core markets, higher-margin products, and strategic infrastructure investments. This development comes shortly after the company’s September acquisition of a stake in Sublime Systems, a U.S.-based startup pioneering low-carbon cement technology, underscoring its commitment to improving environmental credentials.

Challenges That Pushed Holcim Out

Holcim’s subsidiary, Lafarge Africa, had been struggling to maintain profitability amid Nigeria’s economic challenges. Although the company reported an 8.6% revenue growth in 2023, rising from N373.25 billion to N405.50 billion, its profit after tax (PAT) declined by 4.7% to N51.14 billion. This decline was attributed to a higher effective tax rate and N21 billion in foreign exchange (FX) losses, a consequence of the naira’s dramatic depreciation from N700 per dollar in 2023 to its current rate of N1,700 per dollar under Tinubu’s administration.

The removal of the fuel subsidy by Tinubu, a move aimed at stabilizing Nigeria’s fiscal position, further compounded the cost pressures on businesses like Lafarge. Raw material prices soared, making production more expensive and complicating efforts to maintain profit margins. While Lafarge Africa reported a 53% rise in PAT for the first nine months of 2024, increasing to N60.08 billion from N39.31 billion in the same period the previous year, this improvement was insufficient to offset the broader challenges in the operating environment.

Yet Another Multinational

Holcim’s departure is part of a worrying trend of multinational companies exiting Nigeria. In 2024 alone, major firms such as Pick n Pay, Microsoft Nigeria, Total Energies Nigeria, PZ Cussons Nigeria PLC, Kimberly-Clark Nigeria, and Diageo PLC have pulled out of the market. Pharmaceutical giants Sanofi and GlaxoSmithKline left in 2023, shortly after President Tinubu assumed office.

The exits underscore the struggles foreign companies face in a country grappling with macroeconomic instability, high operating costs, and unpredictable regulatory frameworks.

While Holcim’s exit reflects mounting difficulties in Nigeria’s economic environment, many industry observers believe the divestment to China’s Huaxin Cement could herald a competitive shift in the local cement manufacturing industry.

The sector has long been dominated by two players: Dangote Cement, owned by Africa’s richest man, Aliko Dangote, and BUA Cement, led by billionaire industrialist Abdulsamad Rabiu. Both companies control significant market share, and Huaxin Cement’s entry could disrupt the balance, introducing new competition and potentially reshaping pricing and supply dynamics.

Analysts suggest that Huaxin’s acquisition of Lafarge Africa’s assets could lead to increased innovation, expanded production capacity, and a more competitive pricing structure, offering potential benefits for consumers.

However, the sale of Lafarge Africa to Huaxin Cement also raises questions about the broader economic situation in Nigeria and the country’s ability to retain foreign direct investment (FDI). While Chinese companies like Huaxin have been expanding their global footprint, their growing presence in Nigeria could signal a shift in investment trends as Western multinationals retreat.

However, concerns remain about whether the Chinese company will overcome the challenges of navigating Nigeria’s harsh economic climate. The company will need to contend with the same issues that drove Holcim out, including rising production costs, an unpredictable foreign exchange market, and an often opaque regulatory environment.

Temu, Konga, Jumia and the Ecommerce Dynamics in Nigeria

By
Ndubuisi Ekekwe
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0

A lot of questions on Temu. I have already written enough. But let me summarize with this Harvard Business Review article I wrote in 2015, and this is the key section: “Logistics: Amazon.com and eBay are great companies that depend on the U.S. postal system to serve their customers. I sell my own books online in the U.S.; once a buyer makes payment, I drop the book off at the post office to close the transaction. In Africa, it’s more complicated with nonfunctioning postal systems.”

Good People, Temu will do adverts and actually get you to buy, but at the end of the day, the items must be delivered. The marginal cost positioning for Temu as it does that will determine if it would pack up and leave in three years. From the time of Kalahari (first major ecommerce in Africa funded by Naspers, just months Amazon was launched) to Mocality to Konga to OLX to (fill the space), it comes down to logistics, and that is shaped by marginal cost.

Ecommerce marginal cost has two components and they are transaction and distribution costs. For ecommerce in Nigeria, distribution cost does not scale, it grows, and that is the issue without a functioning postal service. So, you need to watch if Temu builds a “postal service” in Nigeria! If it does not, it will arrive at the same conclusion: companies thrive on public platforms and most of those platforms do not need to be profitable, but are designed to power private businesses which are then taxed by the public.

Image result for transaction, distribution cost tekedia

For more than 50 years, the US Amtrak system has never made a profit, and the US has not shut down the rail system. The US postal system has been losing money for 20 years and America is fine with the losses. China does not even keep records because it loses $billions to subsidize logistics. In Nigeria, that is not the case,  and that is the big equation Temu must solve. What OA Lawal wrote in his economics textbook has not expired: I have a plot to help here.

During Digital Transformation of Consumer Business, Understanding “Marginal Cost” is Important

Tekedia Capital welcomes Taxo

By
Ndubuisi Ekekwe
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0

Tekedia Capital welcomes Taxo (taxo.ai), a healthtech startup. Taxo integrates with electronic health records (EHRs) to automate medical billing and coding. Its AI-powered solution reduces the time and cost of claims processing by over 90%, enabling providers to focus on patient care rather than administrative tasks.

The business of medicine is fascinating. Doctors, nurses and broad healthcare professionals are scientific miracle makers. Yet, they do suffer from a poor marginal cost regime, as it is one doctor per one patient, at a time, irrespective of the number of patients. Simply, if there are 30 people waiting for a doctor, a doctor has to deal with each one at a time. In business, that model is not easy to scale efficiently since you cannot easily scale supply to meet expanding demand.

So, how can we help doctors, nurses, etc to serve more and improve broad quality? Use technologies to handle the administrative tasks like billing, claim management , etc, so that those professionals can focus on their core missions.

Tekedia Capital (capital.tekedia.com)  is excited to support Taxo to fix this friction as its technologies, used in Stanford Medicine, Boston Children’s Hospital and other key healthcare centers, accelerate productivity and evidential positive patient health outcome.  Team, welcome: we fund innovations.

Ripple XRP Crosses ATH Becoming the Third-Largest Cryptocurrency by Market Capitalization

By
Paul Ugbede Godwin
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0
Ripple’s token surges amid Michael Saylor pitches Bitcoin to Microsoft

Ripple’s XRP token has seen a significant surge, reaching $2.46 and becoming the third-largest cryptocurrency by market cap. Ripple’s XRP has surged to become the third-largest cryptocurrency by market cap, overtaking Solana and USDT. This surge is attributed to several factors, including positive developments in the U.S. political climate for cryptocurrencies and anticipation of Ripple’s RLUSD stablecoin project.

On December 1, 2024, XRP closed at $1.95, a price it had not reached since April 2021. The cryptocurrency jumped higher on December 2 to a current value of $2.42, a 4.67% increase within the past 24 hours. Trading volume increased to $27 billion. On weekly levels, XRP increased 54% while increasing by 318% within the last 30 days. This price increase also means that XRP has, for the first time, reached close proximity to its historical peak of $3.40, recorded in January 2018.

Meanwhile, Michael Saylor, the executive chairman of MicroStrategy, has pitched a bold Bitcoin strategy to Microsoft’s board of directors. Saylor suggested that Microsoft could add nearly $5 trillion to its market capitalization by fully embracing Bitcoin. He proposed that Microsoft convert its cash flows, dividend payouts, stock buybacks, and debt into Bitcoin, predicting significant financial rewards for shareholders.

In December 2020, the SEC filed a case against Ripple, alleging that the company was selling unregistered securities through its XRP token. The court, however, found that although Ripple violated securities laws due to institutional sales of XRP, sales on public exchanges constituted a different type of transaction from a securities transaction. This difference has been very fundamental in the outcome of this case. Ripple, however, appealed against the ruling of an SEC fine of nearly $2 billion in damages.

There is optimism that the SEC may drop its appeal now under Trump’s new pro-crypto leadership. SEC Chair nominee Paul Atkins is an ardent free-market advocate, which has fueled speculation about leading policy shifts in favor of Ripple and the overall cryptocurrency market. XRP’s bullish momentum has also been driven by growing speculation over XRP-based spot ETFs. Companies like Grayscale and WisdomTree have filed applications similar to Bitcoin’s ETF success, which led to BTC’s 127% increase in 2024.

XRP continues to hold firm above key support levels of around $1.85, though the 14-day RSI is at 85.41, indicating conditions for short-term corrections based on overbought conditions. Still, a breakout above $2.50 can be enough to set the price of XRP soaring to challenge its January 2018 peak. XRP’s upward trajectory during these times reflects growing investor confidence in its prospects as investors await some form of regulatory clarity and XRP ETF approvals.

XRP price surged past $2 for the first time in seven years on December 2, 2024. The XRP market cap is now at $138 billion. It has taken the spot of the third largest cryptocurrency after overtaking Solana. The XRP rally is fueled by optimism about Ripple’s probability of winning the SEC lawsuit.

The lawsuit was filed against it for selling unregistered securities through XRP tokens. This impressive rise is also driven by positive developments in the U.S. political climate for cryptocurrencies and anticipation of Ripple’s RLUSD stablecoin project. It’s an exciting time for XRP and the crypto market in general.

5 Best Bitcoin Gambling Sites: What Is The Best Bitcoin Casinos Online ? We Find The Most Trusted Online Crypto Gambling Sites ! Quick Links To Latest Bonuses!

By
TI Partners
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0

The best Bitcoin gambling sites are 7Bit, JACKBIT, BitStarz, MIRAX, and WILD Casino. Wondering to know how we choose them? Well, the huge welcome offers were surely one of the most influencing factors. What else? These are the best  Bitcoin casinos 2024 and they do not ask you to compromise on anything. They can not be more amazing, right?

The era of online crypto casinos is gaining more power than everyone could have ever thought of. Let us read more about them and claim all the hot crazy casino deals before it is too late.

List Of Crypto Gambling Sites: Claim Latest Bonuses Quickly

JACKBIT

 400% Up to 5.25 BTC + 250 Free Spins

7Bit

 325% Bonus Up To 5.25 BTC + 250 Free Spins

BitStarz

 Exclusive Bonus Offer 100% up to 1BTC+180 Free Spins

MIRAX

 325% +150 Free Spins Welcome Package Up to 5 BTC

Wild Casino

 First Deposit Bonus 100 % Deposit Bonus+ 100 Free Spins

 

#1. JACKBIT 4.9/5 

JACKBIT Casino has one of the rarest welcome bonus offers of all time. You only have to visit the official website of the casino and sign up for a new account. And, what you will get for this is 100 Wager-Free Free Spins along with a fair bonus package!!

JACKBIT Casino Features

Let us look at the different features that JACKBIT Casino offers to all of its players. You can use these features to enhance your gaming at the casino. They are:

?     Crypto compatibility

JACKBIT Casino has the highest crypto compatibility. You can pay with any of the top cryptocurrencies at the casino. Crypto can be used to deposit and withdraw from the casino and all kinds of banking. The reason for many people choosing crypto banking is the swift and quick process that it offers. Your payment will go through at the moment that you do it.

?     Mobile friendly casino

The casino is mobile-compatible. All the casino games can be played from your mobile devices, as well. The casino has built a mobile-friendly website that supports all your online gambling from mobile phones. In fact. Mobile is not the only device that you can use to play games other than Dekstop. If you face any issues while playing the games with mobile, you can get help from the customer support team at the casino.

#2. 7Bit 4.9/5 

A stunning 325% bonus up to 5.25 BTC + 250 FS!! – this is what you get for creating an account at 7Bit Casino, one of the most trusted Bitcoin casinos ever. The latest offer at the casino is a Titans’ Arena where the top 25 Legends Share $8000!! of money.

7Bit Casino Features

These are the best features of the casino and the casino is known for these features. Keep reading to know how best they are:

?     BTC games

7Bit Casino has BTC games!! All the games at the casino that are Bitcoin compatible can be found as a separate tab at the casino. You will find that this is a huge collection of games. Make sure that you enjoy these games and earn money out of them.

?     Safe gambling tools

7Bit Casino make sure that you have access to safe gambling tools. It is the duty of all Bitcoin gambling sites to guarantee that all of their players get a safe gambling experience. As an online casino player, it is your duty to make sure that the casino has responsible gambling tools. These are teh tools that will help you in case you face any gambling problems. The casino ensures that you have access to safety and security at all times.

#3. BitStarz 4.9/5

 BitStarz Casino has the biggest welcome bonus offers. You get a massive welcome bonus of up to 5 BTC to kickstart your journey and 180 Free Spins!! to try out your luck on all of your favorite slot games at the casino.

BitStarz Casino Features

Let us look at the various featues that are present at the casino. All the top features have been listed here and explained further.

?     Rich game collection

The casino has an endless collection of games. These games are classified into various categories such as slot games, table games video poker, live dealer games, Bitcoin games, trending games, cold games, hot games, and much more. The slot games are available in every different theme. The table games at the casino are present in different versions and variations at the casino. There are many tables available for the live dealer games.

?     Back-to-back promotions

To make the gameplay more spicy, the online Bitcoin casino offers many different promotions and tournaments to all of the players. There are slot game promos and table game promos for all. These are available weekly and daily meaning that you always have the opportunity to win the games.

#4. MIRAX 4.8/5

MIRAX Casino can be defined as one of the modern casinos in the online crypto casino realm. The casino is waiting to welcome you with an amazing welcome package of up to 5 BTC + 325%+ 150 Free Spins!!

MIRAX Casino Features

The best features available at MIRAX Casino are as follows:

?     Latest tech and innovations available

All the latest tech in the field of online gambling is available at the casino. The most modern innovations are embedded on the website to improve the casino gameplay. The compatibility with modernity is what ensures smooth and soft gambling at the casino.

?     State-of-the-art safety systems

The safety systems present at the casino make sure you are secure on its platform. Your details are safe at the casino. No third parties will have access to any of the personal and confidential of the players.

#5. WILD Casino 4.8/5

Wild Casino distinguishes itself from other platforms with its distinctive and innovative approach to online gaming. It offers a premium space for players who seek an exclusive crypto casino experience. The welcome bonus at MIRAX Casino is an impressive  $5000 welcome bonus +125 Free Spins.

MIRAX Casino Features

  • Wide Game Selection

Wild Casino boasts a vast collection of games, including slots, table games, video poker, and live dealer games from top software providers, ensuring there’s something for every type of player.

  • Cryptocurrency Support

As a crypto-friendly casino, Wild Casino accepts a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more, providing secure and fast transactions for crypto enthusiasts.

How To Choose The Right Online Bitcoin Casino To Play and Earn? Step By Step Guide

Player Safety

The safety of all of the players needs ot be prioritized at all times at online casinos. You can make sure that the casino has a top-tier safety mechanism implemented on its platform. What you need to look for is a policy that collects only the necessary details from the players and this same policy should also make sure that all your details are safe from the hands of the bad actors. No one else should be able to easily break into your casino player account.

Also, the details such as the activities and the remaining balances in the player account should only be available to the particular player and no one else should have access to this.

License and Authorization

All the best online crypto casinos are licensed by the Malta Gaming Authority or eCuracao. You can make sure that the casino that you choose has a license from either of these two. Ideally, an online casino should be well-licensed and regulated by the right authorities. The online casino also should have a permit from the respective governments of each jurisdiction before they can offer their products and services to the people. What you can do is check the homepage of the casino website to look for the labels and certifications. Also, cross-check other platforms to see that the casino has all the labels that it claims to have.

Fairness and Transparency

The fairness of transparency of all the games should be a really important factor that you have your concern about. If the games are not as transparent as they seem, it can greatly affect your gambling journey at the casino. It means that the games are rigged and the casino is cheating on you and also that other players may as well trick to win the game. What you can look for is the RNG certification on the games which guarantees that no one can make a foul play on the game.

Data Privacy

Data privacy is the right of all the players which can not be denied by anyone. The player has the full rights to know how their data are used by the casino. Also, this data should not be available to others. For example, the personal details of the players who engage in online gambling should be only available to the casino authority. And it should only be used for identity verification. The casino should not be using the details of your activity to send you personalized ads without your permission.

Even if that happens, you should have an option to turn it off. Some of the players might prefer getting customized ads and offers but that’s not the case with everyone else.

Rich Games Lobby

The richness of the games lobby really matters. Many people might think, why does the lobby need to have so many games? However, when it comes to gambling, both the quality and the quantity of the games matter. Let us talk about my abundance first. There should be multiple game categories present at the casino like slot games, table games, live casino games, video poker, specialty games, and much more. The top casinos such as BitStarz have a separate game category called BTC games where you can find all the BTC-compatible games in one place. Many other casinos have specialty games, which are the games only available on their platform. When you look at gambling as a potential entrainment that you could have, you will realize the importance of having many options. Otherwise, you will get bored of playing the same games again and again. You do not want that, right?

The quality of the game is another matter of fact that you need to be aware of. The games need to be of the highest quality. It means that they should incorporate the latest technology in the field. The sound quality of the game should be crystal clear so that you almost think for a minute that you are inside the game. When it comes to the visual part of the game, it should use all the state-of-the-art methods to ensure that you get the best gambling experience of all time.

Third-Party Audits

Third-party presence is also appreciated when it comes to the timely audits at the casino. This audit can be about the fairness of the game, the RNG method used, the RTP of the games, the casino edge on games, and the overall transparency of the whole casino matter. If a third party is involved in a decision, you will understand that the decision is of the highest fairness.

Industry Awards and Honors

Make sure that the casino that you are choosing has won at least some awards and titles at the casino awards functions. If the casino is providing the best services, then it will definitely be mentioned by the casino authorities for the awards and all. BitStarz casino is the one with the highest number of awards ever. You can see that this casino has been entitled as the Best Casino Of The Year Award and The Best Crypto Casinos Award multiple times over the years.

Final Thoughts On Best Bitcoin Gambling Sites Online

The best Bitcoin gambling sites are JACKBIT, 7Bit, BitStarz, MIRAX, and WILD Casino. Let it be the welcome offers or other recurring offers, you get the best deals on these platforms. The only thing that you need to do is visit their official websites and create an account to claim all these offers. Make sure that you make the best out of the deals.

We also hope that, now you know how to make the right decision to choose these casinos. All the essential factors to take care of while considering different online crypto casinos. We wish you all the best for your online gambling experience!

FAQs About Best Crypto Casinos Online

  • What is the best gambling site in Bitcoin?

The best Bitcoin gambling site in 2024 as per our research are 7Bit, JACKBIT, BitStarz, MIRAX, and WILD Casino.

  • How to ensure safe gambling at a crypto casino?

To ensure that you only engage in safe gambling at an online casino, you can check for a few things. The minor gambling policy at the casino, the data privacy policies, dispute handling, and much more.

  • Are crypto payments swifter than non-crypto payments?

Yes, crypto payments are much swifter than non-crypto payments. It will take only a few seconds to get through your payments and it will get processed instantly, too. There is no need for a long wait to process the payments.

  • Where can I get the highest bonuses and rewards?

You can get the highest bonuses and rewards from the best crypto casinos. We suggest you visit casinos such as JACKBIT, 7Bit, and MIRAX Casino to get introduced to the best offer ever.

  • How to make sure that I get 24/7 customer assistance?

In order to make sure that you get 24/7 customer assistance, you can create an account at an online casino with a full-time active, and reliable customer support team.

  • Do all online casinos have live dealer games?

Almost all of the top online casinos have live dealer games. If you a huge fan of live games, you can check about their availability even before you open an account on the casino webpage.

  • Can I get the online casino rewards at offline casinos?

No, you can not get the stunning online casino rewards from an offline casino. In order to get the huge houses and promotional offers you need to create an account at the online casino itself.

  • Can I create a new account at an online casino from a mobile device?

Yes, you can create a new account at the online casino frm your mobile. For that, the casino that you choose should have a high mobile compatibility.

  • Which is the best online casino for mobile gambling?

All of the top online Bitcoin casinos provide the best platform for mobile gambling. We will provide you with a few recommendations such as JACKBIT, 7Bit ,BitStarz, MIRAX , and WILD Casino.

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