Nigeria and Kenya are likely to hike interest rates by a modest 50 basis points in the coming days after months of heavy lifting from other African central banks to try to calm rampant inflation, a Reuters poll found, while Ghana will hold fire. This week’s benchmark interest rate decisions remain a very close call without any clear majority by Read More
The word ‘japa,’ which means ‘to flee’ in Yoruba is now trending in the country, particularly for those that desire to leave for greener pastures abroad. A report by the Africa Polling Institute in 2021 claimed that seven out of 10 Nigerians were willing to relocate to other countries for various reasons with a good number of them recording successes. Read More
The Chief Party of TechnoServe, Krishanu Clakravarty has revealed that over 133,000 women, children and men benefited from cashew production in Africa. TechnoServe is an international nonprofit organization that promotes business solutions to poverty in the developing world by linking people to information, capital markets. Krishanu said during a media parley organized by TechoServe business solutions on its prosper cashew Read More
Group Managing Director of United Bank of Africa (UBA), Oliver Alawuba has revealed that the plans of the tier one bank is to further expand beyond Africa its services to increase capital inflow into Nigeria. Alawuba who disclosed this at the bank’s closing gong ceremony on the floor of the Nigerian Exchange Limited (NGX) recently, said UBA is well positioned Read More
The veritable pedigree of China-Africa relations incepted not on the principles of financial lending, but the principle of mutual respect, solidarity and rejection of global imperialism, colonialism and domination of all kinds against humanity. This was developed at the Bandung Conference where the legendary Chairman Mao made this clear that the developing countries of Africa and Asia have the same Read More
The Director-General of the National Office for Technology Acquisition and Promotion (NOTAP), Dr. DanAzumi Mohammed Ibrahim has called on African countries to embrace the culture of innovation for sustainable economic development of the continent. Dr. Ibrahim made the call while flagging off the 2022 Commemoration of African Day for Technology and Intellectual Property Rights held in Abuja, on Tuesday. He Read More
A report by AFP fact check has debunked the claim by some government officials that Lagos state, Nigeria’s former capital and economic hub is the third biggest economy in Africa. Recall that recently, during the Nigerian Bar Association (NBA) conference in Lagos on August 22, Vice Presidential Candidate of the All Progressives Congress (APC) Kashim Shettima had echoed the assertion. Read More
The 66th Ordinary Session of the African Court on Human and Peoples’ Rights will commence at its seat on Monday in Arusha, Tanzania. A new Judge, Professor Dennis Dominic Adjei, a national of Ghana, will be sworn-in at the session. Adjei was elected for a term of six years at the 41st Ordinary Session of the Executive Council of the African Union Read More
Despite the provocative visit of the retiring US House speaker, Mrs. Nancy Pelosi to the Taiwan region of the People’s Republic of China in July, obviously designed to obfuscate the status of the region,African representatives to the recent coordinator’s meeting on the implementation of the Follow-up Actions of the 8th ministerial conference of the forum on China – Africa Cooperation Read More
The Chinese government has announced its plans to absolve 23 interest-free loans to 17 African countries. Though China has failed to mention the countries in its waiver list, it revealed also its plan to provide food assistance to struggling nations. The Debt Management Office (DMO) revealed recently that Nigeria’s borrowing from China as of September 2021 accumulated to 89.94 per Read More
Nigerian Exchange Limited (NGX) has commended Lafarge Africa Plc for its consistency in disclosing sustainability performance to capital market stakeholders. The NGX mad this statement during the Facts Behind the Sustainability Report (FBSR) presentation of Lafarge Africa hosted by NGX. In his opening remarks, Chief Executive Officer, NGX, Mr Temi Popoola, applauded Lafarge Africa Plc for its consistency in leveraging Read More
Gone are the days, particularly in Africa when dancing as a job was considered to be for lazy people who were considered as ‘unserious elements’ in the society. Today, the situation has changed as there are now professional dancers, especially youth who earn their living from the art. Although, dancing can be many things to different people, like an expression Read More
The Dangote’s $2 billion Petrochemical Plant located in Lagos when fully operational will position Nigeria as one of Africa’s largest petrochemicals hubs and boost non-oil export earnings for the country, according to the Dangote Group President, Aliko Dangote. The 900,000 metric tons per annum capacity Plant, which is being built alongside the 650,000 barrels per day Dangote Petroleum Refinery will Read More
Africa Prudential Plc has announced its unaudited financial result for the period ended June 30, 2022, reporting gross earnings of N1.99 billion. The amount represents an increase of 19 per cent compared with N1.67 billion recorded in the corresponding period of last year. The company’s half year result showed that profit before tax up by 29 per cent to N1.16 Read More
The Association of Nigerian Women in Sports (NAWIS) has sent out a congratulatory message commending former Super Falcons captain, Asisat Oshoala, who was last night in Morocco, named African Women Players of the 2021/2022 Season. In a press statement, by its National President Prof. Mrs. Bola Adeyanju, the Association praised Asisat Oshoala who won the top award for a record Read More
The African regional office of International Trade Union Confederation (ITUC-Africa ) has asked Liberia president George Weah to reset industrial relation space in the country. Secretary General of ITUC Africa, Kwasi Adu-Amankwah in an open letter addressed to President George Weal said the appealed became necessary following the erosion of good industrial relations practices in a toxic milieu in Liberia. Read More
The International Air Transport Association (IATA) has said Nigeria and other Africa’s aviation sector could lose about $0.7 billion this year to slow COVID-19 vaccination rates. The association stated this in a short video on its social media page. It said lower vaccination rates slowed Africa’s air travel recovery, but some “catching up” could happen this year. “In Africa, the Read More
The Chief Executive Officer, Nigerian Exchange Group Plc, Mr. Oscar N. Onyema has called for more investments in Africa’s marketplace as it’s growth market for businesses is highly underestimated. Onyema made this call while delivering a speech at the African Risk and Compliance Summit held in London. Speaking at the summit, Onyema noted that Africa’s potential as a growth market Read More
The African Diaspora Investment Symposium (ADIS) is one of the largest forums for connecting the diaspora with business and investment opportunities in Africa. It’s difficult for many Americans to understand why Africa is an essential long-term strategic partner for the United States of America and that they have an untapped goldmine of experts living among them. Africa is essential to Read More
The African Energy Chamber has voiced its strong support for the European Commission’s ongoing plan to step up cooperation regarding gas with Africa. According to the AEC, the move will help the continent to expand production, infrastructure development and the exploitation of gas to address domestic energy poverty. The European Union (EU) is moving ahead with plans to enhance Africa-EU Read More
Today it is conclusive that Africa’s socialist experiments failed as did the state-led development approach. Not only was the heavily statist approach unable to develop African economies, but it made poverty worse. In this context of repressive state-driven economic systems, most African countries are trapped in a morass of high inflation, high debt, high taxation, high dependency, worsening poverty, food Read More
The Biomedical Research and Training Centre, under the umbrella of ‘TReND in Africa’, was initiated to maintain invigorating biomedical programs for both local and international research to surmount the excess growth of diseases across Africa. It is acknowledged that African countries, particularly sub-Saharan regions, are experiencing fewer records of biomedical centers, inadequate training facilities, and unsupportive equipment to provide expertise. Read More
A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and causing queues at filling stations. The surge in prices comes in tandem with a spike in the cost of food after Russia sent troops into Ukraine, hitting tens of millions Read More
The International Air Transport Association (IATA) has said that air travel in Africa including Nigeria has resumed its strong recovery trend, despite the war in Ukraine and travel restrictions in China. The global trade body representing over 290 international airlines across 120 countries said the growth was driven primarily by international demand. African airlines’ traffic rose 116.2 per cent in Read More
New factories built by BUA Cement and African Glass Limited as well as five new paper mills that recycles wastepaper into carton drove up manufacturing output in Nigeria in the second half of last year, industry data has shown. Manufacturing sector production output increased by almost 60 percent to N7.03 trillion in 2021 from N4.42 trillion in 2020, the Manufacturers Read More
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