Biden Administration Offers $12 Billion to Automakers to Retrofit Plants for EV Production
The Biden administration is providing $12 billion in grants and loans to auto manufacturers and suppliers to retrofit their plants…
Year: 2023
China Takes Measures to Boost Economy Amidst Slowdown
As China grapples with an economic slowdown and a debt crisis in the property sector, authorities have rolled out a…
Kenyan Savings and Credit Cooperative Societies (Saccos) Report Increased Lending for Land and Housing
Data from the annual Sacco Societies Regulatory Authority (SASRA) report for 2022 indicates that land purchases and home ownership plans…
Nairobi Securities Exchange (NSE) Reports 72.4% Jump in H1 Net Profit Amid Increased Trading Commissions
The Nairobi Securities Exchange (NSE) recorded a substantial 72.4% increase in net profit, reaching Ksh 69.38 million in the first…
“Growing Skills Gap Poses Major Threat to Nigeria’s Telecom Industry,” Warns Expert
A dire warning has been sounded regarding the growing skills gap in Nigeria’s telecommunications sector, which poses a significant threat…
MTN Nigeria’s Financial Maneuvers: Raises N125 Billion via Series 6&7 Commercial Paper Notes for Diversification
MTN Nigeria has successfully raised a substantial sum of N125 billion through its Series 6 and 7 commercial paper notes.…
Dangote Group Shakes Up Subsidiaries in Mega Merger Move: Shareholders Brace for Dilution
The Dangote Group has announced a merger of its subsidiaries, including Dangote Sugar, NASCON, and Dangote Rice, through a scheme…
Google Introduces BigQuery Studio for Data Analytics
Google has unveiled a new service called BigQuery Studio, designed to address the challenges of executing big data analytics. BigQuery…
Military Seizes Power in Gabon Following Election
A group of army officers in Gabon announced on national television that they had seized power in the Central African…
Safaricom Disburses Dividend to Shareholders
Safaricom, a leading telecommunications company in Kenya, has commenced the distribution of a final dividend of KSh 24.84 billion to…
World Bank Engages Nigerian Government on Effective Public Fund Utilization
The World Bank has communicated its engagement with the Federal Government of Nigeria to ensure that public funds are utilized…
Plural Launches AI-Powered Policy Tracking Platform in South Africa
Plural, an AI-powered policy tracking platform, has expanded its services into Africa, starting with South Africa and Nigeria. The platform…
Shell Signs Letter of Intent for Floating Production Unit in U.S. Gulf of Mexico
Shell Offshore, a subsidiary of Shell, has entered into a letter of intent (LOI) with Seatrium Oil and Gas International,…
Crude Oil Prices Rise on Hurricane Threat and Inventory Draw
Crude oil prices continued their upward trajectory, buoyed by a combination of factors including the approach of Hurricane Idalia to…
Floods Trigger Concerns for Nigerian Farmers Repaying N700bn Loan as Lagdo Dam Opens
As flooding engulfs frontline states following the release of water from Cameroon’s Lagdo Dam, over 3.04 million Nigerian farmers are…
AFEX and Ghana Commodities Exchange Join Forces to Boost Commodity Trading Ecosystem in Nigeria and Ghana
Nigeria’s commodities exchange, AFEX, and Ghana Commodities Exchange (GCX) have embarked on a transformative partnership by signing a Memorandum of…
Economic Challenges Pose Strain on Nigerian Banks’ Operating Expenses, Warns Agusto&Co
As inflation and economic pressures continue to rise, Nigeria’s deposit money banks (DMBs) are cautioned to brace for stretched operating…
Google’s Former Director for West Africa, Juliet Ehimuan, Joins Zenith Bank’s Board of Directors
Juliet Ehimuan, a distinguished figure in the technology industry and former Director of Google West Africa, has been appointed as…
Tony Elumelu Commends President Tinubu’s Bold Reforms for Long-Term Nation Building
Tony Elumelu, Founder of the Tony Elumelu Foundation (TEF), has praised the administration of President Bola Tinubu for its courageous…
Nigerian Domestic Stock Transactions Surge to N1968.4bn YTD, Foreign Investors Remain Cautious Amid Forex Challenges”
Domestic transactions on the Nigerian Exchange Limited have soared to N1968.4 billion year-to-date, surpassing the entire value of transactions by…
Nigerian BDC Operators and CBN Head for Showdown Amidst Market Manipulation Claims
Bureau de Change (BDC) operators and the Central Bank of Nigeria (CBN) seem to be on a collision course as…
Stock Market Buzz: FBN Holdings, Japaul, UBA, and More Drive Active Trading Frenzy
In a dynamic trading session, the Nigerian stock market witnessed high activity, with FBN Holdings, Japaul Gold, UBA, Access Corporation,…
Twiga Foods CEO Transfers Land from President’s Scheme to Private Company
Twiga Foods CEO, Peter Njonjo, transferred 20,000 acres of land allocated to him by the administration of President William Ruto…
Nigeria Warns of Potential Flooding from Lagdo Dam Opening in Cameroon
The Nigerian government has issued a warning that several states located along the path of the River Benue could experience…
Central Bank of Nigeria Renews Currency Swap Agreement with China After Expiry
Contrary to previous reports indicating that the currency swap agreement between Nigeria and China had expired, the Central Bank of…
KPMG Nigeria Adjusts Economic Forecast to 2.65%
KPMG Nigeria Adjusts Economic Forecast to 2.65%, Citing Factors Such as Oil Production Contraction and Reforms Impact. KPMG Nigeria has…
Nigerian Crypto Platform Patricia Plans to Repay Hacked Funds with Debt Management Token, Tied to Profitability
Nigerian cryptocurrency platform Patricia has revealed its intention to use a newly created debt management token, the Patricia Token (PTK),…
Ukraine and Russia Clash Over Black Sea Oil and Gas Platforms; Military Activity Intensifies
The UK Ministry of Defence has reported that Ukraine and Russia are engaged in a conflict over strategic oil and…
Uncertain Prospects for Port Harcourt Refinery Restart as Doubts Surface Over Deadline
The hopes for the Port Harcourt refinery’s resumption of fuel production by December 2023, following its Turn Around Maintenance (TAM)…
BP CEO Discusses $3.5 Billion Investment Plan in Egypt with President and Minister
Bernard Looney, the CEO of BP, engaged in discussions today with Egypt’s President Abdel Fattah al-Sisi and Minister of Petroleum…