Real Time Financial News Website
Much of northern Kenya is forecast to be sunny and receive below-average rainfall, Kenya Meteorological Department says. Climate change is expected to increase the frequency and severity of droughts in…
Vodacom Tanzania has promised a high-speed internet across the country after signing broadband investment worth $10.8 million (about Sh25 billion). The investment include $4.59 million deal signed yesterday between Vodacom…
The Producer Price Inflation (PPI) increased to 29.3% in March 2022, from the 21.4% recorded in February.This represents an increase of 7.9% points. The Government Statistician, Professor Samuel Kobina Annim,…
CBN Governor, Godwin Emefiele has said the apex bank will consider the advice of the International Monetary Fund to review its exchange rate policies once Nigeria deepens local production of…
CBN Governor, Godwin Emefiele, says Dangote Refinery will reduce Nigeria’s import bill on petroleum products and other commodities by 40%. “With Dangote Refinery coming up with the 650,000 barrel per…
World Bank has advised Nigeria to rethink its policy of making a provision of N4 trillion for petrol subsidy payments in the 2022 budget. The advice comes after National Assembly…
Nigerian Airports witnessed increased patronage between January and December 2021. As the number of air travelers rose to 15.23m from 10.55m recorded in 2020. This figure includes both Domestic and…
African Export-Import Bank (Afreximbank) said it plans to assist Nigeria from the $4 billion Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA) launched last month. According to it, the…
States have asked the FG to refrain from deducting from funds accruing to them and all LGs councils as liquidation for the alleged $418 million London/Paris Club loan refund-related judgment…
Eden Tanzania Limited has been ordered to pay Tanzania Breweries Limited (TBL) Sh606.7 million. This is for breach of contract and undersupply of pallets. The beer firm filed a suit…
Energy and Petroleum Cabinet Secretary Monica Juma said in January the cost of power would come down by March 31. This is to fulfil President Uhuru Kenyatta’s promise of reduced…
Two aircraft leasing firms have rejected Kenya Airways’ proposals to reduce the cost of hiring their planes in a row that looks set to ground several planes. Kenya Airways chief…
The government has raised Sh27.6 billion from the sale of the fifteen-year bond which had targeted to raise Sh30 billion. Central Bank of Kenya, received bids of Sh32.5 billion on…
The President of the World Bank Group, Mr. David Malpass has once more reiterated the need for FGN to reconsider its policy on fuel subsidy. He said that the huge…
Coleman has successfully paid back series two N3.804 billion under its N20 billion CP Issuance Programme on the FMDQ Exchange. Reacting to the new development, the Managing Director/CEO of Coleman,…
The World Bank has disclosed that import restrictions and non-flexible exchange rate management of the Central Bank of Nigeria are the major driving forces for food inflation in Nigeria. The…
The CBN has disbursed N975.61bn to farmers across the country under the Anchor Borrowers’ Programme. Figures obtained from CBN showed that this amount was released to over 4.52 million smallholder…
Nigeria’s external reserves rose by $243.83m in 19 days, according to figures obtained from the Central Bank of Nigeria. CBN revealed in its data on movement in reserves that the…
About 131,376 workers, who retired from active service, cannot be placed on monthly pensions, says National Pension Commission. PenCom said the affected retirees had below N550,000 as the balance in…
The share of the government’s domestic debt held by individuals and other non-financial institutions increased 38% or Sh74 billion in a year as the investors pursued high returns from the…
IMF has said Nigeria’s economy would grow by 3.4% in 2022 in its latest world economic outlook projections. It revealed a 3.1% growth projection for the nation in 2023, down…
As the controversy surrounding the introduction of 15% NAC levy on imported vehicles lingers, some maritime lawyers have demanded court intervention as a way of resolving the matter. The NCS…
The Board of Directors of Eterna Plc has announced the appointment of new Directors and a new company secretary for the company. The Board appointed Mr. Akinwande Ademosu as an…
According to Afrinvest, Nigerian Brewery Sector Update 2021 report noted that Guinness recorded a revenue of 54 per cent which fully offset the 20.6 per cent y/y contraction in 2020.…
Taxpayers will spend another Sh1 billion to run the national surveillance system built by Safaricom to offer security in Nairobi and Mombasa cities. The Sh14.9 billion NSCCS links all security…
Better.com has conducted its third mass layoff in less than five months, citing a declining mortgage market. Better.com’s desire to build out its purchase experience and move beyond digital lending…
Prior to the announcement earlier, Brex has acquired Y Combinator-backed Pry Financials for $90 million, the company told TechCrunch exclusively. Brex raised $4.2 million in venture funding last year in…
Conductive Ventures raised a $200 million Fund III to continue its focus on investing in founders where other venture capital firms did not see the potential. Carey Lai and Paul…
For more than a year, Andreessen Horowitz (a16z) has quietly piloted its own take on an accelerator for early-stage entrepreneurs. Today, its partners announced the program’s official debut. In exchange…
Deezer, a European music streamer is going public via a SPAC deal, valuing the Spotify competitor at $1.1 billion. Deezer founded in 2007, previously tried to IPO in 2015, only…