A new concept car from Caterpillar Inc. has drawn interest from tech and construction enthusiasts all over the world in recent months. The company is famous for making some of the toughest construction tools. They just showed off a smart pickup truck concept that is perfect for tough industrial job sites. The concept car has […]
Claude Kameni is a fashion designer from Cameroon who makes expensive clothes that are inspired by African culture. She hasn’t released a “2026 collection” yet, but she has been working on a prom couture raffle that was announced in early 2026. The winners will be chosen by February 7. These unique items are made for […]
The International Monetary Fund, IMF said that Nigeria’s economy will contract by 3.4% in 2020, but rebound with 2.4% growth in 2021. The IMF made this projection in its latest edition of the World Economic Outlook just released at the ongoing Spring Meeting in Washington. The International Monetary Fund (IMF) on Tuesday projected that Nigeria’s […]
Egypt has called for African countries to be exempt from paying debt interests bilaterally and multilaterally due to the worldwide spread of the novel coronavirus, Permanent Representative to the United Nations Office at Geneva (UNOG) Ambassador Alaa Youssef said on Saturday. In an online seminar discussing the pandemic’s economic implications, Youssef said that exempting debt […]
Nigeria will cut its oil production by 1.9 million barrels per day. This will reduce its daily crude oil production to 1.412 million barrels. Abuja is hoping for a $15 rebound in the price per barrel in the short term. This rebound that could bring at least 2.8 billion dollars to the country, according to […]
Ethiopia’s government vowed to continue work on a massive dam that’s stoked tensions with Egypt, even as the Horn of Africa nation contends with the growing spread of the coronavirus. Completing what would be Africa’s largest hydropower reservoir, filling it and producing electricity is a top priority for Ethiopia, State Minister for Finance Eyob Tekalign […]
Nigeria’s hydroalcoholic gel business booms amid the COVID-19 pandemic. In this edition, we speak with Dr. Stephanie Sodangi, who set up a local gel manufacturing plant in her clinic in Abuja. High demand for sanitary products such as hydro-alcoholic gels and facemasks following the Covid-19 pandemic has led to the emergence of startups. In Nigeria, […]
Zimbabwe’s leading fast foods outlet Simbisa Brands has fired its contract workers in an attempt to cut costs as the effects of coronavirus lockdown take a toll on the national economy. The country is now midway through its 21-day national lockdown in an effort to contain the spread of the deadly coronavirus. However, according to […]
South Africa’s economy could contract by 2% to 4% this year due to the coronavirus pandemic and measures to curb its spread, according to the Reserve Bank. A 21-day nationwide lockdown aimed at slowing the spread of the pandemic will reduce the rate of change in gross domestic product for this year by 2.6 percentage […]
Ratings agency Fitch downgraded South Africa’s credit rating further into “junk” territory on Friday, another blow for Africa’s most industrialised economy, which is still smarting from a Moody’s downgrade last week. Fitch lowered its long-term foreign-currency issuer default rating to ‘BB’ from ‘BB+” and assigned a negative outlook. The agency cited “the lack of a […]
The management of the Calabar Mall and SPAR has debunked claimed that the mall collapsed. “The Calabar Mall building did not collapse as suggested through fake claims on the internet, and the shops remain open to customers,” it said. Mrs. Egbunu Kemi, the Management of the Mall has stated on record that the External Advertisement […]
The Central Bank of Nigeria (CBN) on Wednesday said that monetary contributions to its relief fund under the auspices of Private Sector Coalition Against COVID-19 (CACOVID) stood at N15 billion. CBN’s Director of Corporate Communications, Isaac Okorafor, said in a statement in Lagos that the donations were from 37 donors, including individuals, banks and other […]
Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has introduced customer relief initiatives aimed at reducing the unease felt by its customers as a result of the coronavirus global pandemic. The movements of individuals had to be curtailed to discourage physical contact between people as a way of containing the spread of […]
Egypt’s second richest man has urged authorities to order people back to work once a curfew ends, and threatened to commit suicide if the measures to stem the spread of the coronavirus exceed two weeks. In a TV interview widely criticised by labour rights advocates, Naguib Sawiris said Egyptians should go back to work after […]
Social grant recipients will in the next few days make use of many ATMs and retail shops as possible to get their money without incurring high bank charges so they can practice social distancing. This is because banks were expected to “significantly” reduce their charges to increase the number of pay-points the grant beneficiaries can […]
MultiChoice has set aside R80 million to pay their cast, crew and creatives in the industry during Covid-19 and the national lockdown period. Due to production coming to a halt in South Africa, MultiChoice said that it was aware of the financial challenges that will be faced by their employees and freelancers. In a press […]
The Central African Stock Exchange wants to accelerate economic diversification of the sub-region following a listing operation on the Central African Stock Exchange. After the merger-absorption of the Douala stock exchange a little more than 8 months ago and the hosting of its very first listing last February, the Central African Stock Exchange wants to […]
Odum Chijioke John, the Founder and Chief Executive Officer of Chiji14xchange, a leading Nigerian e-commerce company in the business of crypto currency trading and Gift cards exchange has decried the lack of government support in their evolving sub-sector of the e-commerce industry. Odum, who made this known in a recent interview accused the government of […]
Aero Contractors on Tuesday suspended all their flights for two weeks, beginning from 26 March. The Chief Executive Officer of the airline, Captain Ado Sanusi announced the decision in Lagos Sanusi said the suspension is meant to support the effort of the Federal Government to stop the Coronavirus pandemic from spreading further. “This is also […]
As most business owners world wide grapple with the economic effect of the coronavirus, Moroccan casual workers say the virus is threatening workers in the country’s , without contracts and without social protection. The situation is particularly critical in the North African country marked by great inequalities and where the rate of informal employment reaches […]