The Global Minimum Tax Act which requires large multinational enterprises (MNEs) operating in the nation to pay a global minimum corporate tax rate of 15% was formally signed into law by South Africa in a…
Fuel price: NOGASA commends Buhari
Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has lauded President Muhammadu Buhari for reducing fuel pump price from N145 per litre to N125 per litre. The National President of NOGASA, Mr Beneth Okorie…
Naira devalued as CBN seeks uniformity in exchange
Central Bank of Nigeria may have devalued the Naira by as much as 15 per cent as it seeks a single exchange rate instead of the often criticised multiple rates. An indication that the Naira…
MTN reviews tariffs in Uganda, Cameroon
Mobile phone giants, MTN, are tweaking their tariffs in the area of mobile money transfers in some African countries with the aim of reducing contact with cash amid the coronavirus pandemic. The latest developments are…
Coronavirus triggers glut of unsold crude oil in…
A glut of unsold, high quality Nigerian crude continues to build up with weak global demand caused by coronavirus and surplus supplies by Saudi Arabia, UAE, Russia and other OPEC nations. Nigeria, which produces some…
Ghana tweaks mobile money charges, Nigeria revises budget
The coronavirus epidemic continues to disrupt life across the world. The disruption is all but gathering steam in affected even virus-free African countries. The rate of infection is lower on the continent as compared to…
South Africa Ninety One lists on the JSE
The Johannesburg Stock Exchange (JSE) announces the primary listing of Ninety One Limited (NY1) and the secondary listing of Ninety One Plc (N91) on its Main Board. Ninety One Limited and Ninety One Plc will…
US Trade and Development Agency supports coalbed power…
The U.S. Trade and Development Agency awarded a grant to Kalahari Energy Botswana for a feasibility study of a power plant that will generate up to 100 megawatts of electricity using indigenous coalbed methane. The…
Business: How coal is doing better than gold
Amid instability in the oil markets and sharp losses for other commodities such as copper, you may be tempted to think gold is the best option for a positive return. But coal beats the metal.…
African trade fair a ‘ forum for expanding…
The Department of Trade, Industry and Competition has invited companies to participate in the second Intra-African Trade Fair (IATF) set to take place in September in Rwanda’s capital, Kigali. The IATF provides a strategic platform…
Oil Pipeline shut down in Lagos After Explosion
The Nigerian National Petroleum Corporation has shut down oil pipelines around Abule Ado area of Lagos following multiple explosions that rocked the community on Sunday morning, leading to fire outbreak. The incident also led to…
AERC creates plan to reduce food challenges
The African Economic Research Consortium (AERC), with support from the Bill and Melinda Gates Foundation since 2016, has implemented a number of activities under the “Analysis of the Impact of Agricultural, Food and Nutrition Policies…
Lagos to review law on money lending
The Ministry of Home Affairs in Lagos state has said government was planning to review the Laws on money lending activities in the state. Commissioner for Home Affairs Olanrewaju Elegushi made this known on Friday,…
OPEC slashes oil production worldwide
OPEC’s decision to cut oil production worldwide is yet another blow for oil-producing countries. The organization now forecasts a global demand of 0.99 million barrels per day, compared to more than a million. This slash…
Shuter to step down as MTN CEO
MTN Group President and Chief Executive Officer, Rob Shuter will be stepping down from his role in March 2021, according to the company. According to sources, the board said the succession process will be concluded…
AfDB signs first loan
The African Development Bank has signed an agreement with DAL Group, one of Sudan’s largest conglomerates, for the provision of up to $75 million to improve food security and household incomes in the country. The…
Oil prices crashes globally due to COVID-19
Oil prices fell sharply on Monday, after OPEC members failed to strike a deal with oil-exporting countries and Russia. Moscow refused Friday to further reduce crude oil production, to stem the fall in prices linked…
Ecobank celebrates International women’s day
Ecobank Nigeria, Managing Director, Patrick Akinwuntan (middle), on his left, Executive Director, Commercial Banking, Carol Oyedeji and other female Ecobankers during the Bank’s commemoration of this year’s International Women’s Day (IWD) at the Bank’s head…
Opportunities in the Continent of Africa
It would be remiss to paint the African continent with one brush as many countries are at varying stages of their macroeconomic and political cycles, according to Franklin Templeton Emerging Markets Equity’s Danesh Ranchhod. He…
