Business Finance Local Macroeconomic Customs Eyes Return of 4% FOB Charge Amid Ongoing Duty Relief Efforts April 23, 2025 Ekemini The Nigeria Customs Service (NCS) has announced plans to reintroduce the controversial four per cent Free-on-Board (FOB) value levy on imports, following broad stakeholder consultations. The Comptroller-General of Customs, Bashir…
Business International Macroeconomic China Warns Nations Against US Trade Deals That Undermine Its Interests April 22, 2025 Ekemini China has issued a stark warning to countries considering trade deals with the United States that could harm its economic interests, signaling a tougher stance amid growing tensions with Washington.…
International investment Arnergy Secures $18M to Scale Solar Energy Access Across Africa April 22, 2025 Ekemini Arnergy, a Nigerian-based leader in distributed renewable energy, has raised $18 million in fresh funding to ramp up solar energy deployments across Africa. The round was led by All On,…
Business Crypto International Bitcoin Surges to $88,000 Amid U.S. Dollar Weakness and Market Volatility April 22, 2025 Ekemini Bitcoin (BTC) surged past $88,000 on Tuesday, marking its highest price since late March. This significant rise came as the U.S. dollar experienced a sharp decline, hitting a three-year low…
Business Local Macroeconomic Naira Hits N1,845/€ on Easter Monday as Euro Climbs to 3-Year High Against the Dollar April 22, 2025 Ekemini On Easter Monday, the Nigerian naira traded at N1,845 against the euro on the black market, marking a slight decline from its previous N1,800/€ support level. This drop came despite…
Business Local Nigerian Equity Market Loses N207bn Amid Easter Holiday Shutdown April 22, 2025 Ekemini The Nigerian equity market experienced a significant decline during a shortened trading week, with a loss of N207 billion in market capitalisation. The Federal Government declared Friday, April 18, and…
Business International Macroeconomic Dollar Falls to Lowest Point Since March 2022 Amid Economic Uncertainty April 22, 2025 Ekemini The US dollar experienced a significant depreciation on Monday, hitting its lowest point since March 2022, as investor confidence in the US economy waned. The currency dropped to 97.923 against…
Business Local Technology Legend Internet to List Two Billion Shares on NGX, Marking Major Milestone for Nigerian Tech Sector April 22, 2025 Ekemini Legend Internet Plc is set to list two billion shares on the Main Board of the Nigerian Exchange Limited (NGX) on April 24, 2024, following a statement from the company.…
Business Local Macroeconomic FX Volatility Drives 9% Increase in Local Inputs Sourcing by Nigerian Manufacturers in 2024 April 22, 2025 Ekemini In 2024, the ongoing foreign exchange (FX) volatility in Nigeria caused a significant shift in the manufacturing sector, leading to a 9% increase in the local sourcing of raw materials.…
Business investment Local Technology Nigeria’s $630 Million Investment in Data Centres to Meet Surge in Internet Usage April 22, 2025 Ekemini As internet usage continues to soar, data centre operators in Nigeria are investing over $630 million to expand their facilities and support growing local cloud demands. Since 2019, the country’s…
Business Finance International Philipp Müller Appointed CEO of Blue Earth Capital to Lead Next Growth Phase in Impact Investing April 22, 2025 Ekemini Blue Earth Capital, a prominent impact investor managing over $1.5 billion in assets, has announced the appointment of Philipp Müller as its new CEO, effective October. Müller comes from BlueOrchard…
Business International Technology C2FO Secures $30 Million Funding to Expand into Emerging Markets with IFC Support April 22, 2025 Ekemini C2FO, a US-based working capital platform, has raised $30 million in funding to enhance its technology and expand its services in emerging markets. The funding round saw participation from the…
Business Finance investment Local Nigeria’s Foreign Investment Surges to Two-Year High Amid High Yields and Rate Hikes April 22, 2025 Ekemini Foreign investment in Nigeria has surged to its highest level in over two years, largely driven by the Central Bank of Nigeria’s aggressive interest rate hikes aimed at attracting capital.…
Finance Local Technology SEC Cracks Down on Unregistered Investment Promotions by Influencers, Enforces New Securities Act April 22, 2025 Ekemini In a strong move to protect Nigerian investors, the Securities and Exchange Commission (SEC) has issued a stern warning to celebrities, bloggers, and social media influencers promoting unregistered investment schemes.…
Business investment Local Top Nigerian Banks Post Record ₦17.3 Trillion in Gross Earnings, Profit Soars by 60% in 2024 April 22, 2025 Ekemini In a year marked by economic hurdles, Nigeria’s top five banks – Zenith Bank, GTCO, UBA, Access Holdings, and First HoldCo – delivered an impressive ₦5.1 trillion in pre-tax profit…
Business International Macroeconomic Ghana Surpasses IMF Reserve Target Early, Strengthening Economic Outlook April 22, 2025 Ekemini Ghana has successfully exceeded a key milestone in its ongoing IMF program, surpassing its gross international reserve target over a year ahead of schedule. As of February 2025, the country’s…
Business International Macroeconomic Ghana to Face Minimal Economic Impact from New US Tariffs, Fitch Solutions Report April 22, 2025 Ekemini Ghana is expected to experience relatively minor economic disruption from the new US tariffs, according to a report by Fitch Solutions. The country is ranked 42nd in Sub-Saharan Africa in…
Business International Macroeconomic IFC Provides Financing Package to Cameroon’s First African Company April 22, 2025 Ekemini The International Finance Corporation (IFC), a member of the World Bank Group, has announced a partnership with First African Company SA (FAC) to enhance local manufacturing of affordable dairy products…
International Technology QED Investors Leads Stitch’s $55 Million Series B April 22, 2025 Ekemini Stitch just secured a massive $55 million Series B funding round, led by major global investors like QED Investors, Flourish Ventures, Glynn Capital, and Norrsken22. The round also saw continued…
Business Local Macroeconomic CBN Mulls Interest Rate Hike as Money Supply Soars to N114.2tn April 22, 2025 Ekemini The Central Bank of Nigeria (CBN) may be gearing up to raise interest rates in May, as inflationary pressures continue to mount and money supply balloons. New data from the…
Business Energy Local CBEX: Oil & gas investors hit hard as fraud surpasses N2trn April 22, 2025 Ekemini The abrupt collapse of Crypto Bridge Exchange (CBEX), a digital investment platform exposed as a Ponzi scheme, has left thousands of Nigerians in financial ruin—especially investors in the oil and…
Business International Macroeconomic IMF Urges Ghana and Affected Nations to Accelerate Reforms Amid Trade Tariff Pressures April 22, 2025 Ekemini The International Monetary Fund (IMF) is calling on Ghana and other countries impacted by the United States’ recent 10% trade tariffs to take swift economic action. During the 2025 Spring…
Business International IMF Warns of Global Economic Strain as U.S. Tariffs Fuel Trade Tensions April 22, 2025 Ekemini The International Monetary Fund (IMF) has raised alarms over mounting global trade tensions, cautioning that rising tariffs—particularly from the United States—are creating significant economic uncertainty. The warning follows the U.S.…
Finance investment Local CBEX promoters won’t escape justice – SEC April 18, 2025 Ekemini The Securities and Exchange Commission (SEC) has taken a firm stance against the promoters of Crypto Bridge Exchange (CBEX), a digital asset platform accused of defrauding Nigerian investors of over…
Business International Hermes To Hike US Prices To Offset Tariff Impact April 17, 2025 Ekemini French luxury brand Hermès announced plans to increase its U.S. prices starting May 1 to counter the impact of a 10% import tariff imposed by President Donald Trump. The company’s…
Agriculture Business Local FG Targets Cooperative Sector Revamp to Drive $1 Trillion Economy April 17, 2025 Ekemini The Federal Government of Nigeria has launched a comprehensive initiative aimed at revitalizing the country’s cooperative sector, positioning it as a critical driver for the nation’s economic growth toward a…
Business investment Local Nigeria Lands $1.3B Mining Investment, Eyes $25B GDP Surge & $8B FX Boost — Alake April 17, 2025 Ekemini Nigeria just bagged a massive mining investment deal worth $1.3 billion, and it’s being called the biggest private sector-led mining project in the country’s history. Announced by Minister of Solid…
Business Local Macroeconomic Ghana’s Producer Price Inflation Dips to 24.4% in March Amid Sectoral Shifts and Tariff Concerns April 17, 2025 Ekemini Ghana’s Producer Price Inflation (PPI) saw a notable decline in March 2025, falling to 24.4% from 27.6% the previous month, according to new data from the Ghana Statistical Service (GSS).…
Agriculture Local Macroeconomic Ghana Rolls Out $1M Fund to Empower Northern Farmers and Boost Food Security April 17, 2025 akintunde In a bold move to strengthen agriculture and combat food insecurity in the northern parts of the country, Ghana’s Minister for Food and Agriculture, Eric Opoku, has launched a US$1…
Local Macroeconomic Stakeholders Push for Stronger Monitoring to Accelerate Ghana’s Industrial Growth April 17, 2025 Ekemini In a timely call to action, stakeholders are emphasizing the urgent need for stronger monitoring and evaluation (M&E) frameworks to support Ghana’s industrial growth—especially as donor support continues to decline.…
