Morning boats leave a quiet Pacific inlet, diesel hum in the air, gulls loud and nosy. News travels fast there. The $24.5M Grant from Bezos Earth Fund to Launch First Cross-Border Marine Biosphere Reserve in Latin America sets a clear signal. A large, practical step. Not theory. And yes, it anchors the phrase many groups […]
Q3 GDP Growth Slips to 0.5% as South Africa’s Economy Slows Further: Africa newsroom update. Markets opened to a softer print as South Africa Q3 GDP edged up 0.5%. The headline says it cleanly. South Africa economic growth cooled, and the South Africa economy’s slow tag felt accurate on trading floors. Cool morning air in […]
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 to access an integrated African market of more than 1 billion people joined together by the African Continental Free Trade […]
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 the destruction of several houses with residents seen hurriedly removing personal items from some of the affected buildings. Various sources […]
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 on Nutrition Outcomes in Africa” (AFPON) programme. The AFPON project seeks to contribute to the recent interest in leveraging agricultural […]
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, during a stakeholders’ forum with money lenders in Ikeja. Elegushi said there was need for the review as the laws […]
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 they say is because of the Coronavirus outbreak in China. The first victim of this downward revision is the aviation […]
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 during the year, by the time Shuter’s contract will elapse, enabling a seamless handover. The announcement is coming despite posting […]
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 agreement is the Bank’s first private sector loan to the East African nation. The agreement was signed on Thursday, 5 […]
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 to the coronavirus epidemic, which has provoked the wrath of Saudi Arabia. In response, Riad lowered the price of a […]
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 office Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan has reiterated the bank’s commitment to gender parity among staff. In a […]
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 highlights some developments happening right at the heart of these economies, and explains why investors should consider opportunities in this […]
A Maltese company has invested in a pharmaceutical laboratory in Ghana that will be able to produce medicines in line with European standards. Chief Executive Officer of Evolve, Chris Busuttil was part of the latest Maltese trade mission to visit the West African country. The delegation was led by Economy Minister Silvio Schembri. “Ghana was […]
Former Nigeria Minister of Finance , Dr. Ngozi Okonjo-Iweala has been called by the South Africa’s government to help rescue the nation out of recession. South Africa is currently experiencing economic downturn as it entered its second recession in two years, and Okonjo-Iweala is the woman the nation has consulted to help rescue it from […]
The International Monetary Fund, (IMF) and World Bank Group on Wednesday announced other measures to curb the impact of the coronavirus on the world’s economy and health. “We know the disease is spreading quickly with over one-third of our membership affected directly. This is no longer a regional issue. It is a global problem calling […]
Over the years, Nigerian startups have come up with solutions across several sectors from financial services to logistics and agriculture. Increasingly however, its health sector is also coming into focus as startups look to build profitable business around existing gaps in healthcare delivery while also making a lasting impact. With a shortage of medical practitioners […]
The coronavirus has sent global markets to a stand still as its ramifications to a swath of businesses and industries becomes more apparent. Companies that make and sell products are struggling to secure supply lines as business people face one of the most devastating moment in global economy. Globally, the airline industry is set to […]
The South African economy shrank by 1.4% in the fourth quarter of 2019, according to recent Gross Domestic Product numbers, released by Statistics SA on Tuesday March 3. This followed a contraction of 0.8% in the third quarter, which means that the economy was in recession for the last half of 2019. South Africa last […]
The management of Lagos Airport Hotel, Ikeja, has debunked claim by Lafarge Plc that the Italian who brought Coronavirus to Nigeria first slept at the hotel before coming to the company in Ogun State. The Lagos Airport Hotel management described the report as a lie and untrue, as no Italian ever visited the hotel as […]
United Bank for Africa Plc (UBA) has posted a profit after tax of N89.1 billion for the financial year ended Dec. 31, 2019. The profit after tax represented a growth of 13.3 percent to N89.1 billion compared with N78.6 billion recorded in the correpsonding period of 2018. Its profit before tax stood at N111.3 billion […]