Fed Insiders Anticipate Small Rate Increases to Occur Soon.
The Federal Open Market Committee, which sets interest rates, is largely expected to reduce its rate hike in December from…
Year: 2022
Anwar Ibrahim becomes the Tenth Prime Minister of Malaysia, making History.
Anwar Ibrahim, a veteran statesman from Malaysia, was named the nation’s next prime minister. Following a lengthy electoral standoff, according…
Buhari Unveils New Naira Notes at Aso Rock.
The new naira notes in the denominations of N200, N500, and N1,000 were introduced by the President, Major General Muhammadu…
Naira Redesign: CBN Receives Old Notes Worth N165 billion.
Before the Federal Executive Council meeting started, November 23, President Muhammadu Buhari introduced the freshly designed N200, N500, and N1000.…
Due to Delays in World Bank-funded Projects, Sh300b Sits Unused in Uganda.
Due to delays in project execution, around Sh300 billion of the World Bank-funded Uganda Support to Municipal Infrastructure Development Programme…
National Library Under Fire for Additional Sh837 million in Construction Costs.
Kenya National Library Services (KNLS) is under fire for increasing the price of constructing its Nairobi headquarters by Sh837 million.…
Leading African Nations Start on Growth Routes for Energy and Emissions.
At this week’s United Nations climate meeting, African countries made it plain that the continent will utilize its fossil fuel…
Nigerian State-owned Firm begins Drilling for Oil at a Field in the North.
Nigeria’s state-owned NNPC Ltd. Began drilling for oil and gas at a field with 1 billion barrels of reserves in…
Nigeria Lost $2 billion Due to Oil Theft Between January and August.
According to a Senate study, Nigeria lost more than $2 billion to oil theft in the first eight months of…
On Account of Asset Auctions, Bad Loans have their Largest Decline in 15 years.
On account of more property auctions, the repayment of non-performing debt, and poor credit write-offs, the size of defaulted loans…
South Africa’s Game Stores Face Court Threat over Kenya Exit.
Before leaving the Kenyan market, South African retail behemoth Massmart, which runs the Game Stores, had a dispute with its…
Lagos Suffers more from Fuel Shortage.
The price of gasoline increased by between N205 and N220 per litre at the gas stations. This suggests that depot…
In October, Currency Outside of Banks Increased by N108.67 billion to N2.84 trillion.
According to CBN statistics, the value of cash held outside of banks increased from N2. 54 trillion reported in the…
Revised Capital Market Master Plan will be Unveiled by the Finance Minister.
The Revised Capital Market Master Plan, which is anticipated to serve as the roadmap for the capital market over the…
According to the ILO, Global Unemployment is Worsening.
According to the latest edition of the International Labour Organization Monitor on the World of Work, unemployment and inequality will…
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…
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…