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Cyber Fraud: Ghanaians Lose $200M In 3 Years

Despite the consistent caution and education on cyber fraud, many people are still falling prey to the activities of criminals through the Internet, resulting in the loss of millions of US dollars to businesses and individuals in Ghana. Last year alone, Ghanaian businesses and individuals lost $97 million to fraudsters. A total of $69 million […]

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Ethiopia says Egypt trying to maintain “colonial era” grip over Nile

Ethiopia has accused Egypt of trying to maintain its grip over the waters of the Nile with a proposal it says would imperil a giant hydropower dam under construction on Ethiopia’s Blue Nile, in a growing diplomatic spat. The comments highlight the difficulties finding a compromise between the two countries over the Grand Ethiopian Renaissance […]

Foreign currency shortages bite in Burundi

Authorities in Burundi on Thursday said more than 40 people have been arrested since the penalties for black market trading were increased last month. The central African country has been short of foreign currency since foreign aid was frozen in 2016, after President Pierre Nkurunziza ran for a third term despite protests from opponents who […]

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Border closure: Ghana traders’ union calls for boycott of Nigerian products

As Nigeria’s land border closure bites West African countries, the Ghana Union of Traders Association (GUTA) has called for a total boycott of all Nigerian products imported by Ghana. The move, the traders union believes, will force the Nigerian government to open up its land borders for foreign goods. Nigeria partially shut its borders since […]

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Nigeria: CDD Evaluates Buhari’s Economic Policies, Advises Govt

The Centre for Democracy and Development, CDD, has pointed out how President Muhammadu Buhari-led Federal Government can improve on its economic policies. CDD stated that Buhari government needs to increase capital investments and reforms in the power sector, while Nigeria needs to focus on increasing production in the oil sector. It stated this in an […]

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Buhari At #NES25: Only ‘Made In Nigeria Solutions’ Can Solve Our Problems

President Muhammadu Buhari Monday in Abuja declared open the 25th Nigerian Economic Summit (NES25) with a charge to public and private sector leaders to look inward to solve the unique challenges confronting the nation’s socio-economic development. President Buhari also pledged that his administration will continue to collaborate with the private sector in designing and implementing […]

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Zimbabwe Raises Oil Prices By More than 25%

The price of fuel went up again in Zimbabwe on Sunday, October 6, this time by more than 25%, the latest blow in a country battling out-of-control inflation. The Zimbabwe Energy Regulation Authority (ZERA) announced the price of diesel would immediately rise to 16.64 Zimbabwe dollars (about US$1), while gasoline would go up to 14.97 […]

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Another fuel and energy price hike – no end in sight for weary Zim consumers

There appears to be no end in sight for hard pressed Zimbabwean consumers as they now have to pay 26% more for fuel and 300% more for energy starting this Sunday. Fuel prices in the southern African country have been going up every week, but this week’s hike is the biggest jump to date. According […]

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Mozambique Says Exxon to Back Africa’s Biggest Ever LNG Project

Mozambique’s government said Exxon Mobil Corp. will sign off on a final investment decision for a liquefied natural gas project that could cost as much as $33 billion to build — the biggest ever in Africa. A ceremony marking the decision will take place Oct. 8 in Maputo, the capital of the southeast African nation, […]

Business Africa: Africa’s oil ambitions

The challenge facing members of the African Petroleum Producers’ Organization APPO, reformed in 2013, is to establish itself as a key and strategic player in the energy, oil and gas sectors on a continental and global scale. This implies the modernization of oil infrastructures, and a judicious allocation of resources from the various operations, among […]

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Zimbabwe: Claims of forced labour at diamond mine a ‘shameless lie’

Zimbabwe angrily denounced a US government decision to curb imports of diamonds from its Marange field, branding the claim the country uses forced labour at the operations “a shameless lie.” “Invoking the repulsive prospect of alleged forced labour is a new nomenclature for seeking to bar Zimbabwe’s diamonds from the international markets,” the southern African […]

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Zimbabwe 🇿🇼: New Currency For Zim In November

Zimbabwe is set to have a new currency next month. A member of the newly appointed monetary policy committee Eddie Cross has revealed that the new currency will be introduced next month (November) in a move set to curb cash shortages in the country. Mr Cross, a renowned economist described last week’s events which saw […]

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Charity is the reason why Bill Gates and Nigeria’s Dangote have a ‘fruitful partnership’

United States’ billionaire and philanthropist Bill Gates on Tuesday praised Nigeria’s Aliko Dangote, for championing efforts of reducing malnutrition in his country and globally. Gates, whose Bill and Melinda Gates foundation, works to reduce inequalities in health, said he and Dangote have a lot in common. ‘‘We both started successful businesses in the late 1970s. […]

Somalian weavers battle cheap imports

Somalian weavers are battling to preserve the use of local fabrics and the wearing of traditional clothes. Influx of cheap clothes and textiles from China and other countries is threatening the livelihood of weavers and a ones lucrative business. “I have been working on this craft for forty years. I only earn a total of […]

Equatorial Guinea VP’s supercars sold for $27m at Swiss auction

Following the seizure of 25 supercars from Equatorial Guineas vice president as part of a Swiss money-laundering probe, an auction held by Bonhams on Sunday fetched nearly $27 million (27 million Swiss francs). Geneva prosecutors said in February that they had closed an inquiry into Teodoro Nguema Obiang for money laundering and misappropriation of public […]

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Nigeria Lacks Mental Discipline To Execute Plans, Says Bismarck Rewane

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane, is of the opinion that Nigeria lacks the mental discipline to execute plans for the growth of the economy. Mr. Rewane stated this on Tuesday while speaking at The Platform, a programme by the Covenant Christian Centre to mark Nigeria’s 59th Independence […]

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Zimbabwe Needs to Intensify Reform Efforts & Meaningfully Improve Transparency: IMF

On Thursday the International Monetary Fund said Zimbabwe needed to intensify its efforts to reform the country’s economic and political fate and improve meaningfully on transparency. The warning according to VOA came on the same day as a report by the Financial Times said the government was warned against state payouts to local company Sakunda […]

Zambia cancels licence of Vodafone franchise holder citing poor capacity

Zambia’s communications regulator said on Thursday it had cancelled the licence for Vodafone’s local franchise holder, citing a lack of technical and financial capacity. Vodafone in 2016 licenced Afrimax, a telecommunications service provider in sub-Saharan Africa to offer customers high speed 4G data services using the Vodafone Zambia brand. The company, registered as Mobile Broadband […]