OPEC+ Exceeded Quota By 116% In October As Nigeria, Angola Underperformed
The compliance by members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies known as OPEC Plus (OPEC+)…
Category: Africa
South African Airways To Resume Lagos Flights December — After 18-Month Suspension
South African Airways (SAA) has announced the resumption of flight operations on its Johannesburg-Lagos route. The airline had suspended commercial…
Aruwa Capital Invests In Pngme
Aruwa Capital Management, an early-stage growth equity and gender lens fund, has invested in Pngme, a Nigerian financial technology company.…
VoxCroft Analytics Raises Series A From Knife Capital
VoxCroft Analytics, an open-source intelligence and risk analytics venture with operations in South Africa and the US, said Thursday it…
Chinese Internet Giant Tencent Invests In Fintech OZOW’s Series B
According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of…
UKCI And Norfund Fund JV’s Equity Participation In Wind Farm Portfolio
Cape Town-based investment firm H1 Holdings, which has inked a joint venture with an independent power producer in South Africa,…
Amethis’s MENA Fund II Buys Minority Stake In Tarjama
Africa-focused private equity firm Amethis said Tuesday it has made its second investment from the new fund that invests in…
Drug Dealer Behind Cocaine Hidden In Lagos Airport Toilet Arrested – NDLEA
The National Drug Law Enforcement Agency (NDLEA) says it has arrested a Brazil based drug dealer, Okafor Moses in connection…
Remittances To Nigeria, Others Grow 7.3% To $589b
Remittances to low- and middle-income countries are projected to have grown a strong 7.3 per cent to reach $589 billion…
Seven Banks Rake In N403.6bn From Fees, Commissions
Seven deposit money banks in Nigeria generated the sum of N403.6bn in nine months from fees and commissions, 24.7 per cent…
FG Begins 10,000MT Wheat Cultivation To Cut Imports
The Federal Government has announced the commencement of dry season wheat cultivation to produce 10,000 metric tonnes of the commodity and…
Agric Fund Diversion May Attract Five-Year Jail Term – CBN
The Central Bank of Nigeria has said borrowers who divert the funds provided under the Agricultural Credit Guarantee Scheme may…
Nigeria Leads Africa With $18bn As Global Remittances Hit 7.3%
Nigeria again led the rest of Africa as remittances to low- and middle-income countries are projected to register a 7.3…
Obasanjo Advocates Made-in-Africa Brand
A former President of Nigeria, Chief Olusegun Obasanjo, has called for a special ‘Made-in-Africa’ brand to promote intra-African trade and…
South Africa’s MTN, IHS In $410m Towers Deal
MTN Group Ltd. and IHS Holdings Ltd. agreed to a 6.4-billion-rand ($410 million) tower-deal in South Africa, according to a…
Oil Exploration: NNPC Gets $1.04 Billion Facility From Afreximbank
The African Export-Import Bank, Afreximbank, has signed a $1.04 billion dollar facility with the Nigerian National Petroleum Corporation, NNPC, to…
Bitmama Launches Programme For Youths Interested In Blockchain Technology
Bitmama, a Nigerian fintech startup, has launched a programme to help young people transition into the blockchain ecosystem. Tagged, ‘Bitmama…
British Council Unveils Programme To Boost Entrepreneurship
The British Council has launched a new programme to foster and strengthen universities’ support for innovation and entrepreneurship. It said…
South African Payments Gateway Ozow Raises $48M Series B Led By Tencent
According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of them…
Dubai Starts Issuing Five-Year Entry Permits For Foreign Workers
Dubai started issuing five-year multi-entry permits for employees of international companies, the latest in a series of moves aimed at…
Alleged Importer Of Fake Tramadol Gets N10m Bail
A Federal High Court sitting in Lagos, on Monday, granted a N10 million bail to a 43-year-old businessman, Afamefuna Udensi,…
ALERT: Iranian Hackers Targeting Telcos In Nigeria, NCC Warns
The Nigerian Communications Commission (NCC) has alerted Nigerians about the existence of a hacking group orchestrating cyber espionage in the…
CBN: Bridging Unbanked Space, Stimulating Digital Transactions
When the Central Bank of Nigeria (CBN) mooted the idea of the e-Naira in 2017 as part of the CBN…
After PSB Approval, Airtel Gets CBN’s Nod To Operate As A Super Agent In Nigeria
Airtel Africa Plc says it has been granted approval-in-principle by the Central Bank of Nigeria (CBN) to operate as a…
African Fintech Startup Chipper Cash Raises $30M Backed By Jeff Bezos
African cross-border fintech startup Chipper Cash has raised a $30 million Series B funding round led by Ribbit Capital with participation…
AfricInvest’s Private Credit Unit Backs Kenya’s RFH Healthcare
AfricInvest, a pan-African asset management platform that makes private equity, venture capital and private credit deals, has inked a debt…
Oikocredit Makes Debt Investment In Senegalese Microlender CMS
Social impact investor Oikocredit has provided debt capital of €5 million ($5.8 million) to Union des Caisses de Credit Mutuel…
Ata Capital Completes RCA’s MBO
Ata Capital has completed a management buyout (MBO) of Respiratory Care Africa (RCA), a medical devices supplier, from South African…
MFS Africa Raises $100m For Massive Expansion Across Africa
MFS Africa, Africa’s largest digital payments network, has raised US$100 million through an equity and debt financing round. The fundraising…