The International Finance Corporation gives Raxio Group $100 million to accelerate their data center building efforts throughout Sub-Saharan African regions. Raxio plans to quickly open data centers across Africa twice as fast during next three…
South African Billionaire Apologizes After Telling President Trump…
South African billionaire Patrice Motsepe apologized for telling U.S. President Donald Trump that Africa loves him, but warned the growing perception that the continent is anti-America may hamper investment. Motsepe’s remarks to Trump at a…
Minister urges Nigerian states to embrace digital economy
Nigeria’s Minister of Communications and Digital Economy, Dr. Isa Pantami, has urged the 36 states of Nigeria to key into the nation’s policy of national digital economy and strategy designed to fast-track growth.President Muhammadu Buhari…
Kenyan investment bank predicts continued opportunities for NSE
Genghis Capital, one of the leading investment banks in Kenya on Tuesday released a report predicting that the Nairobi Securities Exchange (NSE) will offer both local and foreign investment opportunities for the year 2020.According to…
Buhari unveils giant strides in agric. during meeting…
President Muhammadu Buhari has unveiled progress of his administration and the strides in agriculture, leading almost to self-sufficiency in rice and other grains.He told British Prime Minister Boris Johnson on Monday in London on the…
As Brexit nears, UK’s Johnson pushes for deeper…
The United Kingdom is positioning itself to be the ‘investment partner of choice’ for Africa, holding a summit with leaders of 21 African countries on Monday, days before it leaves the European Union (EU). Britain’s…
AfDB reveals top priority as Adesina visits UK
The African Continental Free Trade Area (ACFTA) will top discussion as Dr Akinwumi Adesina, the President of African Development Bank (AfDB) is expected in London for the milestone investment summit. The bank’s Communication and External…
Nigeria leads 6 nations opposed to change of…
Six West African countries have criticised what the changes of the regional CFA Franc currency to Eco, saying its not in line with what was agreed for the adoption of a single regional currency. Last…
South Africa: ESKOM board chair resigns
The board chair of South Africa’s electricity company Eskom, resigned on Friday after failing to keep his promise to stop the load shedding that is hampering the country’s growth, the South African presidency announced. This…
Ministry, Dangote Group to establish Foreign Trade Academy
The Minister of Industry, Trade and Investment, Mr Richard Adebayo said on Thursday that the ministry would partner Dangote Group to set up a Foreign Trade Academy. The minister said this in Abuja when the…
MTN exits towers businesses in Ghana, Uganda
MTN Group has agreed to sell its towers businesses in Ghana and Uganda as Africa’s biggest mobile phone operator refocuses on high-growth markets on the continent and in the Middle East. Clashes with regulators in…
From CFA franc to Eco: evolution of a…
Changes to the CFA franc used by 14 African states, announced over the weekend by Ivorian president Alassane Ouattara and his French counterpart, Emmanuel Macron, continue to drive debate across the continent. In this article,…
ADB Presidency: ECOWAS endorses Adesina for second term
The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank President Akinwumi Adesina for a second term at the helm of the institution. The decision was announced at the…
Almost 70 percent of Kenyans will fall short…
A new report released by Standard Chartered Bank now reveals that with a wealth expectancy of 63.6 million shillings($626,421) many Kenyans will fall short of their aspirations.According to the report, by 60 years of age,…
West Africa monetary union to reform CFA franc,…
The West African Economic and Monetary Union has agreed with France to a number of changes to the CFA franc currency, including a new name, Ivory Coast's President Alassane Ouattara said Saturday, as the West…
Ethiopia gets $2.9bn IMF financing package
The Executive Board of IMF approved a three-year $2.9 billion financing package to help Ethiopia implement its homegrown economic reform plan to maintain macroeconomic stability and improve living standards.The financing package, supported by IMF’s Extended…
Zimbabwe: Arcadia Lithium Project re-evaluated
The Zimbabwean Lithium Arcadia project is preparing to play in the big league. According to an updated feasibility study, the mine will have a longer operating life and an annual processing capacity of 2.4 million…
Nigeria’s ex-attorney general returns to face $1.3 bn…
Nigeria’s ex-attorney general Mohammed Adoke has returned to the country to face corruption charges over his involvement in one of the oil industry’s biggest corruption scandals. The country anti-graft body, the Economic and Financial Crimes…
Aliko Dangote forecasts $30b revenue, 88% of Nigeria’s…
Africa’s richest man, Aliko Dangote has projected an exponential growth in the revenue of his conglomerate from the present $4billion yearly to $30 billion in 2021. The projected revenue is 88 per cent of Nigeria’s…
