Nigeria’s Business Activity Slumps Amidst Inflation and Currency Woes”
Rising inflation and currency instability have led to a significant downturn in business activities in Nigeria, as…
Yearly Archives
2023
Nigerian Energy Firm Oando to Acquire Nigerian Agip Oil Company (NAOC) from Eni
Nigerian energy company Oando is set to acquire the Nigerian Agip Oil Company (NAOC), a subsidiary of Italian…
Foreign Firms Repatriated $5.86 Billion from Nigeria Between October 2022 and…
Foreign firms repatriated $5.86 billion from the Nigerian economy between October 2022 and March 2023, with $5.13…
Hero MotoCorp to Invest Up to $66.5M in Electric Vehicle Startup Ather Energy
Hero MotoCorp, the world's top two-wheeler maker, plans to invest up to $66.5 million in Ather Energy, an Indian…
Kotani Pay Raises $2M to Facilitate Cross-Border Remittances in Africa Using…
Nairobi-based Kotani Pay has raised $2 million in a pre-seed funding round led by P1 Ventures, with participation…
Unconventional Ventures Targets €30 Million to Invest in Impact Tech Startups in…
Unconventional Ventures (UV), a venture capital fund focused on impact tech companies with diverse founding teams,…
Universal Music Group to Acquire Chabaka in MENA Expansion
Universal Music Group (UMG) is set to acquire Chabaka, a UAE-based music company that offers digital distribution,…
IFC Plans $50 Million Investment in Emerging Markets Infrastructure Fund II
The International Finance Corporation (IFC) is considering an investment of $50 million in the Emerging Markets…
KawiSafi Ventures Launches $200 Million Fund to Address Climate Challenges in…
KawiSafi Ventures, an impact investment fund focused on climate solutions in sub-Saharan Africa, has unveiled its…
Sahel Capital Provides Financing to S&P Agribusiness for Hibiscus Flower…
Sahel Capital, an impact-oriented private equity firm, has extended a loan facility to S&P Agribusiness, a…
Ghana’s Agri-Tech Leader Farmerline Secures $1.5 Million Funding from…
Hivos-Triodos Fonds has provided a $1.5 million facility to Ghana-based agri-tech company Farmerline. Farmerline…
South African E-commerce Subscription Platform Rentoza Secures $6 Million…
Rentoza, a South African online subscription platform, has successfully secured $6 million in funding from two…
A.P. Moller Capital Completes Acquisition of Vector Logistics
A.P. Moller Capital and RCL FOODS have successfully closed the acquisition deal of Vector Logistics. Vector…
Expanding Onshore Oil Exploration in Angola
Sonangol, Angola's state oil company, is poised to initiate drilling in its first onshore oil well in Luanda,…
Ghana: Leveraging Microfinance for Inclusive Finance
The Executive Secretary of the Ghana Microfinance Institutions Network (GHAMFIN), Yaw Gyamfi, has urged Non-Bank…
Standard Chartered Bank Kenya Waives Upfront Fees for Online Money Market Fund
Standard Chartered Bank Kenya has announced the removal of the one percent upfront fee charge on its online money…
Kenya Strengthens Climate Change Legislation to Regulate Carbon Markets
Kenyan President William Ruto recently signed the Climate Change (Amendment) Bill 2023 into law, marking a…
KCB Group Authorized to Liquidate DAC Aviation International’s Assets Due to…
The Commercial and Tax Division Court has granted KCB Group the authority to liquidate the assets of DAC Aviation…
Kenya’s KRA Loses $1.38 Billion Tax Case Against Bidco Oil Refineries
Kenya Revenue Authority (KRA) has faced defeat in a prolonged tax dispute with Bidco Oil Refineries, amounting to…
Nigerian Oil Marketers Secure Funding to Develop 30,000 Gas Stations Amid Fuel…
Nigerian oil marketers have received approval from both domestic and international financiers to establish…
Nigerian National Petroleum Company Instructs Marketers to Load Petroleum Products…
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has refuted claims of petroleum product…
Nigeria Identified as the Least Refining OPEC Member, Averaging 10,600 bpd Over…
OPEC has singled out Nigeria, one of Africa's leading oil producers, as the least refining member within the…
Nigerian Government Plans to Reduce Tax Waivers Given to Companies
The Nigerian Federal Government is preparing to review and reduce the tax waivers granted to companies operating…
Nigerian Government Tax Revenue Soars by 96.11% in Q2 2023
In the second quarter of 2023, tax revenue from both companies and consumers in Nigeria witnessed a remarkable…
Nigerian Stock Market Emerges as Second-Best Performer in Africa Over 3 Months
Despite concerns regarding inflation, interest rate hikes, and weak macroeconomic indicators, the confidence of…
Nigeria’s Stocks Surge by N1.08 Trillion
In the trading week concluding on September 1, Nigeria's stock market experienced significant growth, with an…
DSS Detains Central Bank Deputy Governor Amidst Ongoing Financial Mismanagement…
The Department of State Service (DSS) has reportedly apprehended Mr. Kingsley Obiora, the Central Bank of…
Reducing Nigerian Government Borrowing Requires Addressing Insecurity and…
Financial experts suggest that for the Nigerian government to reduce borrowing, it needs to address the issue of…
African Union Suspends Gabon’s Membership Following Coup
The African Union (AU) has suspended Gabon's membership after military officers ousted President Ali Bongo. This…
ECOWAS Denies Reports of Transition Proposal in Nigeria
The Economic Community of West African States (ECOWAS) has refuted reports suggesting that its leader, President…