T-Bill Interest Rate Hits 32-Month High as CBN Sells N5.33 Trillion in Primary Market.
The Central Bank of Nigeria (CBN) raised the interest rate on Treasury Bills (T-Bills) to 6. 49 percent in October…
Month: November 2022
Redesign of the Naira: CBN Introduces Countdown Clock.
The N200, N500, and N1,000 notes now in use will no longer be legal tender on January 31, 2023, according…
According to Saudi Arabia, a $5 billion Deposit with Turkey is Imminent.
Saudi Arabia and Turkey are in talks about Riyadh depositing $5 billion with the Turkish central bank, a representative for…
Oil Increases as Saudi Comments overcome Economic Worries.
Oil increased as the top exporter Saudi Arabia indicated OPEC+ was continuing to output curbs and might take more measures…
In the Event of a Global Downturn, Europe will be Severely Hurt, According to the OECD
The greatest energy crisis since the 1970s will cause a dramatic slowdown, with Europe being most impacted, the OECD said,…
As Inflation Continues, CBN Boosts Interest Rates to 16.5%.
To combat growing inflation, the Central Bank of Nigeria’s (CBN) policy-setting council increased the monetary policy rate (MPR), which measures…
Senate Committee summons Zainab Ahmed about the Humanitarian Ministry’s Budget’s Unaccounted N206 billion
Zainab Ahmed, the minister of finance, budget, and national planning, has been called before the senate committee on special tasks…
Williamson Purchases 60% of its Tea from Smallholder Farmers.
According to Williamson Tea Kenya, the outsourcing approach it began years ago has been strengthened as smallholder farmers now provide…
Puma Energy Offers Solar Installation to Business and Industrial Clients.
Puma Energy will invest USD 33 million to provide solar solutions to its commercial and industrial customers in Ghana and…
According to the Uganda Finance Ministry, Loan Demand is Still Steady.
The Ministry of Finance’s October Performance of the Economy report shows that despite an increase in interest rates, the value…
Tanzanian Government Plans to Transform the Namanve Power Plant to A Gas Facility.
In order to transform the Namanve Thermal Power Plant into a Liquefied Petroleum Gas production unit, the government, according to…
To Build Roads, DMO is Requesting N100 billion.
The issue of N100 billion in Ijarah Sukuk bonds for subscriptions has been announced by the Debt Management Office. The…
IMF Criticizes Nigeria’s Monetary and Fiscal Policies.
The Central Bank of Nigeria’s monetary policy has been criticized by the International Monetary Fund. It said Nigeria has been…
COP27: African Nations must Assist Small Businesses in Adapting to the Climate Crisis.
ESG must be viewed by African firms as a tool for achieving climate-friendly corporate goals as well as a chance…
Investors, PowerChina, Swiber Africa set up $500m Agro-industrial Park in Abia State.
An agro-industrial park has been established in Abia State by PowerChina and Swiber Africa to promote industrialization and increase foreign…
Oando Subsidiary Promises to Increase Capacity Locally.
Following the successful conclusion of the 27th Conference of the Parties of the United Nations on Climate Change, Oando Clean…
Purple Announces the Opening of its Public Offer.
The initial public offering (IPO) of 2 billion common shares at a price of N5 by Purple Real Estate Income…
Industrialists Claim Progress as Rwanda Looks to Expand its Manufacturing Base.
According to the company’s sales and marketing manager, Master Steel presently manufactures more than 10 different types of building materials,…
Investors Demand FG Examine AMCON’s Operations
The federal government has been urged once more by shareholders acting via the Independent Shareholders Association (ISAN) to thoroughly examine…
IFC Announces a $225 million Platform to Improve the VC Environment in Africa.
In order to strengthen the venture capital ecosystems in Africa, the Middle East, Central Asia, and Pakistan, IFC has launched…
Subsidies on Gasoline and Electricity are Harming Poor Nigerians, According to W’Bank.
According to the World Bank, subsidies benefit only wealthy households and reduce government spending on poor Nigerians. It went on…
Impact Life Insurance Combines Two Insurers.
To assist the country’s insurance penetration rate rise, two businesses, the Ghana Union Assurance (GUA) Life and Phoenix Life Assurance…
Nigerian Operators Upset Over the Proposed 20% Tax on Non-alcoholic Beverages by the Federal Government.
An analysis of the effects of the current N10 per litre excise tax between June and August 2022 revealed an…
Uganda Government is Advised to Cut Taxes to Boost the Industrial Sector.
Amos Nzeyi, executive chairman of Crown Beverages Limited (CBL), has urged the government to lower taxes on manufacturing in order…
Kenyan Traders Pull Sh1.5 billion Worth of Tea Amid a Lower Bidding Price.
Tea was withdrawn from the market for Sh1. 5 billion worth of the beverage after the value of the commodity…
Kenya Injects First Dispatch of Ethiopia Power into National Grid.
Kenya launched the program that is anticipated to help down power rates for companies and people last week by injecting…
IFC Mulls Debt Investment in M-KOPA.
With operations in Kenya, Uganda, Nigeria, and Ghana, M-KOPA (“M-KOPA” or “the Company”) is an established platform that offers necessary…
Inspired Evolution wins AfDB commitment for Fund III.
The African Development Bank Group’s Board of Directors today approved a $20 million equity investment in Evolution Fund III, a…
Helios Invests in Many Data Centres Across Africa and Hires a New MD.
For an unknown price, Helios Investment Partners (Helios) has entered into agreements to purchase the majority shares in Maroc Datacenter…
The World Population will Surpass 8billion, with India Surpassing China.
World Population Prospects 2022, published on World Population Day, estimates that the world’s population would reach 8 billion people on…