Business MTN Ghana CEO Selorm Adadevoh Appointed Chief Commercial Officer of MTN Group December 7, 2023 Ekemini Selorm Adadevoh, the Chief Executive Officer (CEO) of MTN Ghana, has been appointed as the Chief Commercial Officer of MTN Group. Adadevoh will succeed Jens Schulte-Bockum, who is stepping down…
World Namibia’s Central Bank Maintains Policy Rate Amid Projected Inflation Slowdown December 7, 2023 Ekemini Namibia’s central bank has opted to keep its policy rate unchanged at 7.75%, citing anticipated inflation deceleration in the coming year, sustained economic slack, and sluggish credit growth. This decision…
Local Nigeria’s Foreign Reserves Dip by $4.07 Billion in 11 Months, Hits $33 Billion December 6, 2023 Ekemini Nigeria’s foreign reserves experienced a substantial decline of $4.07 billion in the first 11 months of 2023, settling at $33 billion as of November 30, 2023. The drop, attributed to…
Business Sovereign Wealth Funds Face Challenges in Scaling Climate Investments Despite Urgency December 6, 2023 Ekemini Sovereign wealth funds, controlling nearly $12 trillion in assets, encounter significant hurdles in rapidly increasing climate investments despite the pressing need highlighted in COP28 talks. Funds such as those of…
Local World Bank President Urges Record Funding for IDA to Meet Growing Demands December 6, 2023 Ekemini World Bank President Ajay Banga has called on member countries to make the next replenishment of the International Development Association (IDA) the largest ever, citing the increasing demands pushing the…
Local Nigerian President Orders Probe into Deadly Military Drone Attack in Kaduna” December 6, 2023 Ekemini Nigeria’s President Bola Tinubu has ordered a comprehensive investigation into a military drone attack over the weekend that resulted in the deaths of at least 85 people, including women and…
Business Unprecedented Wealth Transfer: Over 1,000 Billionaires to Pass Down $5.2 Trillion in Next Decades December 6, 2023 Ekemini An extraordinary wealth transfer is on the horizon, as the UBS Billionaire 2023 report reveals that more than 1,000 billionaires aged 70 or older are poised to hand down a…
Business Mastercard Foundation Africa Growth Fund Expands Portfolio with Strategic Investments in Chui Ventures, VestedWorld, and SME Impact Fund December 6, 2023 Ekemini The Mastercard Foundation Africa Growth Fund has achieved a significant milestone by making strategic investments in three Investment Vehicles (IVs): Chui Ventures, VestedWorld, and SME Impact Fund. These investments underscore…
Local Controversial Pricing Shift Raises Concerns Over Nigeria’s Oil Revenue Stability December 6, 2023 Ekemini The Nigerian National Petroleum Corporation (NNPC) is implementing a contentious shift in how it prices its crude cargoes, causing uncertainty in Nigeria’s oil sector. The decision to change the pricing…
Local Increased Fuel Prices Lead to Soaring Interstate Travel Costs for Nigerian Holidaymakers December 6, 2023 Ekemini Holidaymakers in Nigeria, especially those travelling from major cities like Abuja and Lagos to their country homes, are facing higher fares for interstate road journeys. The removal of fuel subsidy…
Local Soaring Diesel Prices Hit Container Haulage, Threaten Christmas Shopping in Nigeria” December 6, 2023 Ekemini As the Christmas season approaches, shoppers in Nigeria face the threat of struggling to purchase goods due to the impact of soaring diesel prices on container haulage costs. Importers are…
Local EFCC Presents N76.586 Billion Budget to House Committee, Citing Need for Vigilance and Expanded Operations December 6, 2023 Ekemini The Economic and Financial Crime Commission (EFCC) defended a budget of N76.586 billion for the next financial year, 2024, before the House of Representatives Committee on Financial Crime. This represents…
Local Senate Summons Nigerian Ports Authority Over Terminal Operators’ $1.85 Billion Debt” December 6, 2023 Ekemini The Senate Public Accounts Committee has summoned the Nigerian Ports Authority (NPA) to provide explanations for the outstanding funds owed to the federal government by terminal operators, amounting to $1.85…
Local Mounting Pressure on NNPC as December Deadline for Port Harcourt Refinery Nears December 5, 2023 Ekemini With only 26 days remaining until the end of December, the Nigerian National Petroleum Corporation (NNPC) faces escalating pressure to meet its commitment to start the Port Harcourt refinery’s operations…
Local Nigeria’s Trade Surplus Hits 5-Year High Amid Naira Devaluation December 5, 2023 Ekemini Nigeria’s trade surplus has reached its highest point in five years and three months, driven predominantly by the devaluation of the naira, according to a recent analysis of foreign trade…
Local COP28 President’s Controversial Stance on Fossil Fuels Sparks Outcry December 5, 2023 Ekemini Sultan Al Jaber, president of the COP28 Climate Summit, has ignited controversy by dismissing the scientific consensus on the necessity of phasing out fossil fuels to limit global warming to…
Local Sharp Surge in Dollar Inflow Through CBN: July 2023 Economic Report” December 5, 2023 Ekemini Uba In July 2023, the Central Bank of Nigeria (CBN) witnessed a substantial surge in dollar inflow, marking a notable increase of 91.9 percent compared to the previous month. The apex…
Local Nigeria Inks Deal for 1 GW Solar PV Manufacturing Plant to Revolutionize Energy Sector December 5, 2023 Ekemini In a significant move to enhance its energy landscape, the Federal Government of Nigeria has entered into an agreement at the 28th session of the Conference of Parties (COP28) in…
Technology Meta’s 2Africa Subsea Cable Misses Landing Deadline in Nigeria, No New Timeline Provided” December 5, 2023 Ekemini Meta’s 2Africa subsea cable project, eagerly awaited in Nigeria, has failed to meet its November landing deadline in the cities of Lagos and Akwa Ibom, according to the Nigerian Communications…
Business UK Announces Stringent Measures to Curtail Legal Migration Amid Record Figures December 5, 2023 Ekemini The United Kingdom has unveiled plans to significantly reduce the number of migrants arriving through legal routes by imposing stricter criteria, including a one-third increase in the minimum salary for…
Finance Moody’s Warns of Negative Outlook for Banks in 2024 Due to Global Economic Challenges December 5, 2023 Ekemini Moody’s, the credit rating agency, has issued a cautionary outlook for banks in 2024, citing sluggish global growth, an increased risk of borrower defaults, and profitability pressures. The report highlights…
Business Oil Prices Stabilize Amid OPEC+ Uncertainty, Middle East Tensions, and Weak U.S. Economic Data December 5, 2023 Ekemini Oil markets experienced stability on Tuesday, marked by a delicate balance of factors such as uncertainties surrounding the OPEC+ group’s voluntary output cuts, heightened tensions in the Middle East, and…
Local Senator Jimoh Ibrahim Advocates Borrowing for Economic Growth, Defends COP28 Delegation Size” December 5, 2023 Ekemini Senator Jimoh Ibrahim, representing Ondo South in the Nigerian Senate, has reaffirmed his stance that the country’s economic growth hinges on borrowing to fund crucial obligations. Speaking on Channel TV’s…
Local NGX Trading Report: Market Records Turbulent Start, N259 Billion Loss December 5, 2023 Ekemini The Nigerian Stock Exchange (NGX) witnessed a turbulent start to the week as the All-Share Index declined by 0.66%, resulting in a N259 billion loss in market capitalization. Despite a…
Local Julius Berger Officially Hands Over Second Niger Bridge to Nigerian Government December 4, 2023 Ekemini Construction giant Julius Berger has officially handed over the completed Second Niger Bridge to the Nigerian government. The 1.6-kilometer-long bridge, linking Anambra and Delta states, was initially estimated at ₦336…
Local Prof. Benedict Oramah Named FORBES AFRICA Person of the Year 2023 December 4, 2023 Ekemini Prof. Benedict Oramah, the President of the African Export-Import Bank (Afreximbank), has been named FORBES AFRICA Person of the Year for 2023. The recognition was conferred during an award ceremony…
Local Nigerian Exchange Lists Additional 398 Million McNichols Consolidated Shares December 4, 2023 Ekemini The Nigerian Exchange Limited (NGX) has listed an additional 398 million ordinary shares of McNichols Consolidated Plc, following the company’s rights issue. The rights issue involved the issuance of 531.24…
Local Gold Hits Record Highs, Bitcoin Surpasses $41K in Year-End Rally December 4, 2023 Ekemini As markets enter the last month of the year, gold has reached record highs, trading at $2,100, while Bitcoin surged past $41,500 for the first time since May 2022. Ethereum…
environment Allied Climate Partners Launched by World Bank and Charities to Generate $11 Billion for Climate Investments in Developing Countries December 4, 2023 Ekemini The World Bank’s private investment arm has collaborated with major charities to launch the Allied Climate Partners (ACP) platform, aiming to generate $11 billion in investments for climate-related projects in…
Business ARCH Cold Chain Solutions East Africa Fund: Transforming Cold Chain Logistics Across the Region December 4, 2023 Ekemini Overview: ARCH Cold Chain Solutions East Africa Fund is pioneering the development of a comprehensive Cold Chain network across East Africa. With a focus on temperature-controlled warehousing and logistics services,…
