In 2022, Migrant Workers Sent about $800 billion Home.
People in low and middle income countries depend on migrant workers money sent home, which is expected to have increased…
According To Buhari, Nigeria Has 100% Broadband Penetration.
At the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture’s first Digital Economy Conference, which was hosted at…
Transport Union Gets Government Approval
The Amalgamated Union of App-Based Transport Workers of Nigeria has received federal government approval for trade union recognition. With this…
KENYA: In January, Investors’ Wealth At The Bourse Decreased By Sh24.4 Billion.
The Nairobi Securities Exchange (NSE) saw a loss of Sh24.45 billion in investor value in January, which is a result…
KENYA: As Mortgage Rates Increase, Home Values Drop By The Most In Four Years.
Due to an excess of housing and expensive bank loans, house prices fell by the largest margin in the three…
Elon Musk Releases Starlink in Nigeria At A Discount
Nigeria is the first nation in Africa to benefit from Elon Musk’s satellite business, SpaceX, which is now open to…
Reps Drop The N22.7tn Loan Proposal And Approve The Borrowing Of N1tn
The President’s requests for Ways and Means Advances from the Central Bank of Nigeria were partially accepted by the House…
Addax’s Property Is Acquired By NNPCL.
After fulfilling closing obligations, NNPC Limited (NNPCL) and Addax Petroleum Development (Nigeria) Limited have amicably terminated their 24-Year Production Sharing…
After The Deadline, Banks Would Still Accept Old Notes — Emefiele
Commercial banks in Nigeria will still accept old naira notes from customers after the February 10 deadline, the governor of…
KENYA; Local Rice Millers Object About The Window For Duty-Free Imports Being Locked Out.
The importation of the good during the duty-free window has been blocked, and local rice millers have criticized the action,…
UGANDA: Due To Costly Imports, Egg Prices Will Increase.
Kenyan consumers are paying more for eggs as the price of the commodity shoots to a high of Sh450 a…
Diesel prices rise 182.6% in a year as a result of high energy costs.
The cost of energy supply has continued to take a depressing toll on Nigerians with the average retail price of…
First female CEO for UBA’s operations in Africa is appointed.
The board of Directors of the United Bank for Africa Plc, has appointed Mrs Abiola Bawuah, as chief executive officer…
After Moody’s Downgrading, Investors Sell Off Nigerian Bonds.
According to the report, “Nigeria’s sovereign-risk premium jumped the most in three months after Moody’s Investors Service downgraded the country…
Nigeria’s New Naira: Racketeering Thrives In Abuja And Other States
In Abuja, the nation’s capital, Lagos, Anambra and other states, black marketers were observed selling the new notes to those…
AFDB is Planning a $1.5 billion Food Facility For Nigeria And Other Countries
The African Development Bank has said it has put in place a $1.5bn emergency food production facility to support food…
Africa50 Completes Financing for the Senegalese Power Facility.
The co-developed 120 Megawatt power plant in Malicounda, Senegal, which cost €154 million to complete, was co-developed by Africa50 and…
PENGASSAN intends to Crack Down on Marketers for N650 Gasoline.
The Petroleum and Natural Gas Senior Staff Association of Nigeria raised the alarm that their findings showed that the price…
Norfund and 54 Funding Provide SAMANU with Growth Capital.
SAMANU is a platform firm that competes in the primary FMCG sub-sectors in Ethiopia with well-known brands (Tena Edible Oils,…
Contributory Pension Assets Increased to N14.9 trillion.
The total assets under the Contributory Pension Scheme rose by N1.56tn in 2022, according to figures obtained from the National…
Classera Generates $40 Million Funds And Plans to Expand in Africa
The largest Series ‘A’ investment in EdTech history for an unfunded startup was successfully completed by Classera, a worldwide EduTech…
Baker McKenzie Appoints Partners for its Corporate Practice in Africa.
Three renowned transactional attorneys have joined the Johannesburg office of a major international law firm, Baker McKenzie. In January and…
AfricInvest Purchases a Small Investment in Justrite.
An African private equity company, AfricInvest, has acquired a small share in the Justrite supermarket chain in Nigeria. The company…
ECOWAS Adopts New Regulations for the Regional Electricity Market.
The Economic Community of West African States Regional Electricity Regulatory Authority has approved critical policies for the development of the…
The Kenyan Central Bank Maintains its Benchmark Lending Rate at 8.75%.
The monetary policy committee of Kenya’s central bank maintained the country’s benchmark lending rate at 8.75%, claiming that the economy…
Central Bank of Nigeria Recovers N1.9 trillion Following Naira Redesign.
The United Nations has said the Nigerian economy will grow to three percent in 2023 because of robust commodities trade…
IMF Forecasts 3.2% Economic Growth in Nigeria.
According to the International Monetary Fund, actions taken to alleviate insecurity in the oil sector will cause Nigeria’s economy to…
The CBN Has Agreed To Extend Exchanging Old Naira Notes By Ten Days.
CBN governor Godwin Emefiele in a statement said the new deadline is February 10, 2023. Emefiele made the announcement after…
India’s Adani Dollar Bonds Hit Lowest Since November.
Dollar bonds issued by subsidiaries of the Indian conglomerate Adani Group fell after a scathing report by a U.S. short seller…
Banks’ Percentage of Consumer Loans Reaches 29.13%.
By the end of December 2022, the maximum loan rate in the banking industry was 29.13% while the return on…