MMG to Acquire Khoemacau Copper Mine in Botswana for US$1.875 Billion
MMG Limited has entered into a Share Purchase Agreement (SPA) to acquire the parent company of the Khoemacau Copper Mine…
Month: November 2023
Nigeria Sovereign Investment Authority Launches $500 Million Renewables Investment Platform
The Nigeria Sovereign Investment Authority (NSIA) has introduced a $500 million Renewables Investment Platform for Limitless Energy (RIPLE) dedicated to…
Binance Witnesses Over $1 Billion Outflows After CEO’s Departure and Guilty Plea
Binance, a major cryptocurrency exchange, has experienced outflows exceeding $1 billion in the past 24 hours (excluding bitcoin) after its…
NGX and Islamic Development Bank Institute Collaborate to Boost Islamic Finance in Nigeria
Nigerian Exchange Limited (NGX) and Islamic Development Bank Institute (IsDBI) joined forces to conduct a capacity-building workshop aimed at fostering…
KCB Group Reports Growth in Nine-Month Profit Despite Challenging Environment
Kenya’s KCB Group has announced positive financial results for the nine months ending September, with a notable growth in profit…
Oil Spill Response Firm Collaborates with Total Energy and NIMASA to Tackle Egina Crude Oil Spill
An oil spill response firm has partnered with Total Energy and the Nigerian Maritime Administration and Safety Agency (NIMASA) to…
Cybersecurity Incident Hits Fortune 500 Title Insurance Company Fidelity National Financial
Fidelity National Financial (FNF), a Fortune 500 company providing title insurance and settlement services for the mortgage and real estate…
RedCloud Technologies and Paystack Join Forces to Enhance B2B Digital Payments in Nigeria
RedCloud Technologies, a leading open commerce platform provider, has entered into a strategic partnership with Paystack, a prominent digital payment…
Venezuela Aims for 1 Million Barrels per Day as Oil Output Reaches 850,000 bpd
Venezuela’s Oil Ministry officials announced a push towards producing 1 million barrels of oil per day, capitalizing on Washington’s recent…
Nigerian LNG Achieves Highest Dividend in 8 Years as Output Rises; Faces Challenges in Production
Nigerian LNG Limited (NLNG), the largest gas exporter in Nigeria, has reported its highest dividend payout to the Nigerian National…
Surge in Fuel Prices Aggravates Production Costs: Diesel Up 25.45%, Petrol Spikes 222.92% in 12 Months
Over the last 12 months, the cost of automotive gas oil (diesel) in Nigeria has surged by 25.45%, while premium…
Federal Government to Achieve 18% Tax-to-GDP Ratio in Three Years Through Enforcement
The Federal Government of Nigeria aims to achieve a tax-to-Gross Domestic Product (GDP) ratio of 18% within the next three…
Bank of Industry Pledges Support for Modular Refineries to Address Economic Challenges
Dr. Olasupo Olusi, the Managing Director of Bank of Industry Limited (BoI), has expressed a commitment to collaborate with modular…
Nigerian Exchange Limited Loses N35 Billion in Market Capitalization as Key Stocks Decline
The Nigerian Exchange Limited (NGX) experienced a decline of N35 billion in market capitalization on Wednesday. This drop was attributed…
Nigeria’s Equities Market Records a Decline as Investors Take Profit Amid MPC Meeting Concerns
Nigeria’s equities market witnessed a negative turn as investors opted to take profits, particularly in stocks that have seen significant…
KPMG Forecasts Nigeria’s Inflation to Hit 30% by December 2023 Amid Reforms
KPMG has projected that Nigeria’s headline inflation could reach 30 percent by December 2023, attributing this anticipated increase to recent…
Nigeria Rekindles Shipping Tax Dispute, Demands Payment by Year-End
Nigeria has revived a dispute with shipping companies, demanding that non-resident shipping lines settle outstanding tax bills, amounting to millions…
Nigeria Withdraws Civil Claims Against Eni and Shell, Yet Investor Exodus Persists
Nigeria has withdrawn civil claims against energy giant Eni SpA and its partner, Shell, concluding a prolonged legal battle in…
Nigeria Urged to Prioritize Low-Hanging Revenue Opportunities Over Debt for Economic Prosperity
Introduction: Nigeria is being advised to prioritize low-hanging revenue opportunities over increasing debt to achieve economic prosperity, according to experts…
Nigeria Drafts Bill to Reform Public Finance Management and Treasury Operations
The Office of the Accountant General of the Federation (OAGF) in Nigeria has announced the drafting of a bill aimed…
OpenAI Rehires Sam Altman as CEO Following Initial Sacking
Introduction:OpenAI, the artificial intelligence research laboratory, has announced an agreement to rehire Sam Altman as CEO, just three days after…
Rethinking Nigeria’s Economic Strategy: Prioritizing Revenue Opportunities Over Debt
Nigeria is contemplating a shift in its economic strategy by prioritizing low-hanging revenue opportunities over increasing debt, according to experts…
U.S. Welcomes Breakthrough Agreement on Release of Hostages in Israel-Hamas Deal
The United States has expressed gratitude for the recent breakthrough agreement between Israel and Hamas, leading to the release of…
Seplat Energy Invests $250 Million in New Gas Processing Plant to Boost Nigeria’s Energy Sector
Nigerian independent energy company, Seplat Energy Plc, has unveiled plans for a substantial $250 million investment in the construction of…
Nigerian Breweries Seeks Shareholder Approval for 80% Stake in Distell Nigeria
Nigerian Breweries (NB) Plc, the largest brewery in Nigeria, has presented a proposal to its shareholders seeking approval for the…
Nigeria and Germany Explore Investment Opportunities in Power and Rail Sectors
President Bola Tinubu recently engaged in discussions with German Federal Chancellor Olaf Scholz during the G20 Compact with Africa Economic…
Allegations of Misappropriation: Nigerian Lottery Trust Fund Faces Scrutiny by House of Representatives Committee
The House of Representatives Committee on Finance is currently conducting a status enquiry into the National Lottery Trust Fund (NLTF)…
Unraveling Turmoil: A Timeline of Sam Altman’s Departure from OpenAI
In a startling sequence of events, Sam Altman, the former president of Y Combinator and CEO of OpenAI, was fired…
Strategic Investment in Consumer Profile Bureau by 1K Africa and Ascension Capital
1K Africa and Ascension Capital have jointly announced a strategic investment in Consumer Profile Bureau (CPB), a prominent South African…
Namibia Infrastructure Development Fund Invests in Lightstruck Holdings to Expand Last-Mile Fibre Networks
The Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, has made a significant minority stake investment in…