CBN to pay exporters N65 rebate for every $1 remitted
The Central Bank of Nigeria has said it will pay exporters N65 for every $1 sold into the economy through the Investors &Exporters window. The CBN made this known in…
Uganda Government to support domestic investors in oil and gas sector
The Uganda Investment Authority, the investment arm of the country, has embarked on building the capacity of domestic investors to ensure they benefit from the oil and gas sector. The…
Higher Education Loans Repayment Default Increases With Job Cut
About 109,661 former university students have defaulted on payments to the Higher Education Loans Board (Helb) in the wake of layoffs and a freeze in hiring, denying the agency cash…
Areas Indian Investors Now Troop Into Tanzania
Indian investors are increasingly seeking investment opportunities in Tanzania in their quest to grab the opportunities that come with President Samia Suluhu Hassan’s pro-business sentiments. Data from the Indian High…
Visa and Mastercard block Russian banks from their networks after sanctions
Payment and credit card giants Visa and Mastercard have blocked Russian financial institutions from their networks in response to sanctions targeting Russia after its invasion of Ukraine. Russia launched an…
Mineral Income Investment Fund Acquires 3.5 Per cent Of Asante Gold Corporation
The Mineral Income Investment Fund (MIIF) has acquired 3.5 per cent of the Asante Gold Corporation (Asante) in line with its vision to hold stakes in high performing mining companies.…
Wooing Intel, Italy plans $4.6 billion fund to boost chipmaking
Italy plans to set aside $4.6 billion until 2030 to boost domestic chip manufacturing. It also seeks to attract more investment from tech companies such as Intel. The government is…
Tanzania Fuel Price Rise Despite Government Intervenion
Retail prices of fuel in Tanzania have risen despite the government intervention by scrapping off Sh100 of levies. Motorists in Dar es Salaam will with effect from March 2, buy…
Nokia stops deliveries to Russia
Nokia will stop deliveries to Russia to comply with sanctions imposed on the country following the invasion on Ukraine, the Finnish network equipment maker said on Tuesday. “This is a…
Micro Finance Institution Advised To Renew License For Smooth Business
Micro Finance institutions have been asked to acquire the 2022 operational licenses to enable them to work effectively and be protected from unscrupulous customers who may attempt to fleece them.…
Uber Introduces New Features
A new Uber Explore feature will allow users to book dinner reservations, concert tickets and other events directly through the Uber app. This change demonstrates the ride-hailing app’s strategy to…
Uganda Government To Provide Support In Oil And Gas Sector
The Uganda Investment Authority (UIA), the investment arm of the country, has embarked on building the capacity of domestic investors to ensure they benefit from the oil and gas sector.…
Nigeria ranks low in W’Bank projects’ implementation, says FG
The Nigerian FG on Tuesday disclosed plans to improve the level of implementation of donor-financed projects in the country. According to the government the implementation process is affected by a…
NNPC vows to increase production as Brent crude oil hits $110/barrel
BRENT, the crude against which Nigeria’s oil is priced, crossed the $105/barrel price on Tuesday. This rose to the highest price ever recorded about 14 years following the ongoing war…
Profitability Recovering, Vision Group Assures Investors
Vision Group has said the profitability of the company is gradually recovering from the impacts of the pandemic as the economy is projected to rebound strongly this year. While meeting…
Nigeria signs MoU on gas supply to Equatorial Guinea
Nigeria and Equatorial Guinea on Tuesday signed a Memorandum of Understanding for the supply of gas from Nigerian offshore fields to the Equatorial Guinea gas processing facility at Punta Europa.…
Buhari asks Senate to confirm MPC members
President Buhari has asked the Senate to confirm the appointment of two new members of the MPC The president also asked for the senate to approve the reappointment of five…
Africa Oil Corp Runs Out Of Production Cash
Canadian oil explorer Africa Oil, which holds a 25 percent stake in Turkana exploration venture, has run out of cash to fund production in South Lokichar Basin, making it the…
Digital Payment Has Overtaken Use Of Cheques – CBK
Growth in usage of cheques has slowed down in the last decade, losing out to digital payments channels which are more efficient for businesses and individuals. The Central Bank of…
Lekki Deep Sea Port Is 80 Per Cent Completed – ICRC
The Infrastructure Concession Regulatory Commission debunked the report that the Lekki Deep Sea Port is 90.93% completed. It said the project is 80 per cent completed as against the 90.93…
Persisting Inflation Will Limit CBN Borrowing Ability- IMF
Economists at the International Monetary Fund and World Bank have revealed that persisting inflationary pressure will limit the ability of central banks in Nigeria and other emerging markets to borrow…
Experts Bemoan Under-Representation Of Key Sectors On NGX
Apparently irked by the under-representation of some sectors in the nation’s stock market, capital market experts, at the weekend, urged government to accelerate privatisation of its assets and bring them…
Number Of Professional Developers In Nigeria Increased By 6 Per Cent
The number of professional developers in Nigeria increased by six per cent to hit 84,000 in 2021 as the total number of professional developers across the African continent grew by…
Why we’re selling Mobil Nigeria to Seplat — ExxonMobil
Texas-based major Exxon Mobil has given its reason for choosing to sell the entire shallow water assets of one of its Nigerian subsidiaries, Mobil Producing Nigeria Unlimited, to Seplat Energy,…
responsAbility and Belgian DFI invest debt in candi solar
responsAbility Investments, the Swiss impact investment manager, and BIO, the Belgian Investment Company for Developing Countries, have provided a USD 10 million equivalent multi-currency loan to candi solar, A visionary…
Bank of America invests in Bamboo’s ABC Fund
The Agri-Business Capital Fund today announces that it has received its first investment from a corporate global financial institution, as Bank of America deploys $5 million. This landmark investment makes…
Nigerian Stock: List Of Announced 2022 Dividend
As audited accounts start to trickle in, companies will propose dividend payments to their shareholders as recommended by their respective boards of directors. It is also important to track these…
LP ups its commitment to Janngo Startup Fund
In the wake of the EU-Africa Business Forum, the European Investment Bank has announced an additional €10 million through a first-loss equity investment in the Janngo Capital Start-up Fund as…
EAC eyes trade-in-services under AfCFTA Agreement
The East African Community is developing a strategy to boost trade-in services. This will position the bloc better in the negotiations of service liberalisation at the continental level. The EAC’s…
Meta bans Russian state media from running ads on its platforms
Meta has announced the ban of Russian state media from running ads or monetizing content on its platforms. This is according to a tweet by the Head of Meta’s Security,…