Excitement as Benin Republic grants Sunday Igboho conditional release
The Benin Republic has granted the embattled Yoruba nation agitator, Sunday Adeyemo (a.k.a. Sunday Igboho), a conditional release. According to…
Month: March 2022
NCDMB: Afreximbank Invested over $42bn in African Enterprises in Five Years
The Nigerian Content Development and Monitoring Board (NCDMB) yesterday disclosed that the African Export-Import Bank (Afreximbank) had invested more than…
Oil could hit $150/barrel if the West sanctions Russia’s energy exports
Since Russia began its special military operation in Ukraine, the United States and other European nations have been reluctant to…
Worries as global powers launch new ‘scramble for Africa’
There is another scramble for Africa according to international media, but this time it is about who can best profit…
Transcorp Hotels profit increases by 143% as revenue hits N21.7 billion
Transcorp Hotels Plc has announced its audited financial statements for the full year ended December 31, 2021, showing 114 per…
Stock Market Begins First Trading Week with N32bn Decline
The stock market of the Nigerian Exchange Limited (NGX) commenced March dropping by N32billion on investors’ profit-taking in large-mid capitalised…
UBA’s profit rose to N153bn in 2021
United Bank for Africa Plc said it recorded N153bn profit for the 2021 financial year ended December 31, 2021. This…
CBN plays lead role in agric to create jobs, says Emefiele
The CBN governor Godwin Emefiele has expressed satisfaction with the level of interest and the impact the agriculture sector has…
Ukraine-Russia war: Nigeria, others may face commodity supply disruptions, says IMF – Punch
The International Monetary Fund says countries that have very close economic links with Ukraine and Russia are at particular risk…
Mining, quarrying sector contributed N5.37tn to GDP in 2021’
The mining and quarrying sector recorded a total contribution of N5.37tn to the Gross Domestic Product in 2021, according to…
Mortgage rates plunge just as home prices set another record
Mortgage rates are sinking as markets contend with the ramifications of Russia’s attack on Ukraine, and that means home prices…
Russia’s Sberbank collapses 95% on London stock exchange as it exits Europe
Shares of Russia’s Sberbank plunged 95% on the London Stock Exchange on Wednesday to trade as low as a penny after the bank announced…
Wheat prices trade ‘limit up’ again, hit highest in nearly 14 years
Wheat futures reached new multiyear highs Wednesday, as war between major exporters Russia and Ukraine continued to raise concerns about…
Uganda Revenue Authority Recored sh1.8 Trillion Tax
Uganda Revenue Authority (URA) collected sh1.8 trillion in tax in January, according to the Ministry of Finance. The latest performance…
Amana Capital To Raise $2 Million Funding
Fund manager Amana capital is seeking to raise $2 million (Sh227.8 million) in the form of debt and/or equity. The…
Treasury Fights Billionaire Rai On Leasing Mumias
The Treasury has opposed West Kenya’s bid for lease of Mumias Sugar Company on concerns that its billionaire owner Jaswant…
World Bank To Provide Fund For Ukraine
The World Bank says it is preparing a $3 billion aid package for Ukraine in the face of Russia’s invasion.…
Naira Exchange At N578 To $1
The naira, on Wednesday, depreciated further against the dollar at the parallel section of the foreign exchange market. Bureaux…
Champion Breweries Recorded 520% Increase In Post Tax Profit
Champion Breweries Plc has released its FY 2021 results which revealed 520% growth in post-tax profit, from N159 million in…
Africa Prudential Announces Dividend Payment To Shareholders
Africa Prudential Plc has announced a dividend payment of N0.50 kobo per 50 kobo ordinary share for the financial year…
Nigeria: Market Capitalization Decreases
The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 26…
Maersk Suspends All Container Shipping To/From Russia
Maersk, the world’s largest container shipping line, has publicly stated that it will suspend deliveries to and from Russia as…
Ukraine Raises More Cryptocurrency Donations Amid War
With Russia’s invasion continuing, Ukraine has expanded the types of cryptocurrencies it accepts for donations. According to Elliptic, a blockchain…
Nigeria Records 32% Foreign Direct Investments Dip In 2021
Nigeria attracted a sum of $698.78 million as foreign direct investments (FDIs) in 2021, representing its lowest level on record.…
Airbnb To Provide Free Housing For 100,000 Ukrainian Refugees
Airbnb, a home rental company, says it is offering free short-term housing to 100,000 Ukrainian refugees fleeing the Russian invasion…
Halima Dangote Appointed Non-Executive Director Of Dangote Cement
Dangote Cement Plc has appointed Halima Aliko Dangote as a non-executive director. Edward Imoedemhe, deputy company secretary of Dangote Cement,…
Walmart launches A.I.-powered virtual clothing try-on technology for online shoppers
Last May, Walmart announced its acquisition of the virtual clothing try-on startup Zeekit, which leveraged a combination of real-time image processing, computer vision,…
Gopuff officially launches its instant delivery service in France
Gopuff is expanding its service to Europe, starting with France, after launching in the United Kingdom late last year. The…
CBN to pay exporters N65 rebate for every $1 remitted
The Central Bank of Nigeria has said it will pay exporters N65 for every $1 sold into the economy through…
Uganda Government to support domestic investors in oil and gas sector
The Uganda Investment Authority, the investment arm of the country, has embarked on building the capacity of domestic investors to…