African Alliance submits recapitalisation plan to NAICOM after handover
African Alliance Insurance Plc has confirmed that it has officially submitted its recapitalisation plan to the National Insurance Commission (NAICOM),…
Day: August 5, 2026
Nairobi Securities Exchange Tops KSh4 Trillion as Safaricom, Banks Fuel Historic Market Surge
The Nairobi Securities Exchange (NSE) has reached a historic milestone, surpassing KSh4 trillion in total market capitalization for the first…
Afreximbank Loans US$190 million to Zimbabwe’s CBZ Bank
The African Export-Import Bank (Afreximbank) has strengthened its commitment to Zimbabwe’s economic growth by approving financing facilities worth $190 million…
CBK Set to Hold Interest Rates Steady as Inflation Eases and Economic Growth Slows
The Central Bank of Kenya (CBK) is widely expected to maintain its benchmark interest rate at its August 2026 Monetary…
Dangote eyes $5bn IPO to finance refinery expansion
Africa’s richest businessman, Aliko Dangote, is preparing for what could become the continent’s largest stock market listing as Dangote Petroleum…
CBN says naira FX gap falls below 2% as reserves top $52.5 billion
The Central Bank of Nigeria (CBN) has announced that its monetary and foreign exchange reforms are beginning to deliver measurable…
World Bank: AI Adoption Among Nigerian Firms Up 40%
Nigeria has emerged as one of Africa’s fastest-growing artificial intelligence markets after the World Bank revealed that AI adoption among…
Nigerian Stock Market Loses N599 Billion as Nestlé, First HoldCo Lead Massive Sell-Off
The Nigerian stock market suffered a major setback on Tuesday, wiping out approximately N599 billion in market value as investors…
SpaceX Revenue Soars 92% as Starlink and AI Deals Drive Record Growth
SpaceX has reported a remarkable financial performance in its first quarterly earnings since becoming a publicly traded company, with revenue…
Nigeria’s $4.5bn Oil-Backed Loan Refinancing Set to Boost Naira, Strengthen Foreign Reserves
Nigeria’s efforts to stabilize the naira have received a major boost after the National Economic Council (NEC) approved the refinancing…
Oil Prices Slide Below $80 as Hopes for US-Iran Deal Boost Market Confidence
Global oil prices suffered a sharp decline on Tuesday, with Brent crude falling below the $80-per-barrel mark for the first…
CBN Cuts Government Financing as Assets Surge Above N138 Trillion in Push for Economic Stability
The Central Bank of Nigeria (CBN) has taken another major step toward strengthening the country’s economy by reducing its financial…
Cheaper Latin American Crude Puts Nigeria’s European Oil Market at Risk
Nigeria’s long-standing position as one of Europe’s preferred crude oil suppliers is facing increasing pressure as cheaper crude from Brazil…
TotalEnergies Takes Nigeria to Court Over $554 Million Petroleum Tax Dispute
French energy giant TotalEnergies has taken fresh legal action against Nigeria’s tax authorities and the Nigerian National Petroleum Company (NNPC),…