Madagascar farm produces luxurious caviar

Madagascar’s cool fresh water and inexpensive labour has inspired the production of the luxurious caviar. Three French entrepreneurs set up the farm. Today, they produce Rova Caviar with 300 tonnes of fish from 6 different sturgeon species. Delphyne Dabezies is the CEO of Rova caviar. “The day we produced the first caviar in Madagascar was […]

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Cashless Policy: CBN Apologises, Sympathizes With Nigerians

Nigeria’s apex financial institution, the Central Bank of Nigeria (CBN) has apologised to bank customers for the inconveniences the newly introduced cashless policy will cause. Godwin Emefiele, the Governor of Central Bank, made the apology at the end of the Monetary Policy Committee (MPC) meeting in Abuja on Friday. He stated this when he was […]

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World Bank In Talks With Nigeria Over New $2.5 Billion Power Project Loan

The World Bank says it is in talks with the Nigerian government for a $2.5 billion loan to resolve the problems of the country’s power sector. World Bank’s Vice President for Africa, Hafez Ghanem said this while addressing journalists in Abuja, Bloomberg reported on Wednesday. “We’re talking about a new set of programmes of about […]

Benin-Nigeria boarder closure causing economic crisis

Farmers and traders are distressed after Nigerian President, Muhammadu Buhari closed all neighbouring borders around the country with a plan to end Nigeria’s economic dependence on oil, by developing domestic agriculture and industry. The border closure means Nigeria is choked off from supplies until the next harvest by local farmers. “These tomatoes are rotting in […]

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World Bank in talks with Nigeria for fresh R37bn loan

The World Bank and Nigeria are in talks for as much as $2.5bn (R37bn) in a new tranche of concessionary lending to Africa’s most populous country, Vice President for Africa Hafez Ghanem said. In the past year Nigeria received $2.4bn from the World Bank, Ghanem said in an interview in Abuja, the West African nation’s […]

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Ambassadors of Croatia, Cyprus and Ghana Visit FPCCI Listen

Ambassadors of Ghana, Croatia and Cyprus accredited to Pakistan along with a team of Sindh Board of Investment visited the Federation House, Karachi and held meeting with Dr. Mirza Ikhtiar Baig, acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), S. M. Muneer, former president FPCCI and office bearers and members […]

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Egypt’s Sisi issues presidential decree approving loan to build 4 desalination plants in South Sinai

President Abdel-Fattah El-Sisi has issued decree no. 83 of 2019 approving a loan agreement between the Egyptian government and the Kuwaiti Fund for Arab Economic Development.to build four sea water desalination stations in South Sinai. The 15-million-dinar agreement was signed in Sharm el Sheikh on 8 December, 2018. The decree was published in the official […]

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Zim, Belarus Pen $350M Mega Deals

Zimbabwe and Belarus have signed deals worth US$350 million, which are set to transform Zimbabwe into the region’s transport and logistical hub. Two agreements were signed this Tuesday, with six more yet to be finalised. After witnessing the signing ceremony, President Emmerson Mnangagwa said the agreements have cemented relations between the two countries. “This has […]

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US, Nigeria Meet On Intellectual Property, Move Against Counterfeiters

United States Mission in Nigeria and the American Business Council, in partnership with the Nigerian Government and members of the private sector, met in Lagos, Monday, on Intellectual Property (IP). DAILY POST reports that the symposium theme, “The Bane of Counterfeit Pharmaceuticals and Piracy”, brought together stakeholders including senior officials from federal ministries, departments and […]

Egypt, Ethiopia disagree as talks over Nile dam project resume

Talks between Egypt and Ethiopia over the latter’s dam project on the River Nile, have hit yet another deadlock, even as ministers from the two countries met with Sudan on Monday. The meeting, which was the first in over a year, produced no agreements or disagreements, according to the spokesperson at Ethiopia’s foreign ministry, Nebiat […]

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Cameroon: UNDP to provide financial support to three Micro Finance Institutions

The United Nations Development Programme (UNDP), is awarding grants worth over 200 million CFA to three Micro Finance Institutions (MFI) to scale up their capacity to provide financial products and services adapted to the needs of young people, women and rural populations in the project intervention areas of Far North, North, Adamawa and East regions […]

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Zim Dollar Tumble A Result Of The End Of Tobacco Season – RBZ

The Reserve Bank of Zimbabwe (RBZ) said the fall in the value of the Zimbabwe dollar against the US dollar and other currencies in recent weeks is as a result of the end of the tobacco marketing season. Tobacco is one of the four major foreign currency earners for the country, the others being gold, […]

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Ezekwesili reacts as Buhari dissolves Osinbajo-led economic team

Oby Ezekwesili, former minister of education has reacted to President Muhammadu Buhari’s appointment of a new economic team. Buhari, on Monday, constituted an Economic Advisory Council (EAC), dissolving the previous led by Vice President, Yemi Osinbajo. The Presidency had said that the new team is made up of the following: Prof. Doyin Salami – Chairman; […]

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Ghana’s Energy Ministry Begins Negotiations With Oil Block Winners

Government of Ghana, through the Ministry of Energy, has begun negotiations with the two companies that recently won blocks GH_WB_02 and GH_WB_03 located in the Deepwater Cape Three Points in the Western Basin. First Exploration and Petroleum Development Company, in partnership with Elandel Energy (Ghana), won block GH_WB_02 while ENI Ghana Exploration and Production Limited, […]

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Belarusian Official In Zimbabwe To Follow Up On Investment Deals

A Belarusian official yesterday jetted into Zimbabwe to follow up on investment deals signed between his government and the government of Zimbabwe in January this year. General Colonel Victor Sheiman who is the Belarusian Chief of Presidential Affairs is on a 3-day state visit. General Sheiman will meet the president and discuss agriculture, mining, power, […]

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Zimbabwe’s forex inflows fall just when they are needed most

Zimbabwe’s foreign currency inflows fell 24% for the six months to June 2019, at a time when the country is needing to pay for key imports from fertilizers and maize to electricity. According to the latest figures published by the Reserve Bank of Zimbabwe, foreign currency receipts for the first half of the year fell […]

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No Extension of Deadline for Old Sh1,000 Notes – CBK

The deadline for Kenya’s withdrawal of the old Sh1,000 notes will not be extended, Central Bank Governor Patrick Njoroge has said. Dr Njoroge has reiterated that come September 30, the notes will no longer have value and will only be good for “lighting jikos”. “I want you to take this message to every corner of […]

Prosus Naspers lists its giant Tencent stake in Amsterdam

A South African company just created Europe’s biggest consumer tech group

Naspers, the South African media company that hit the jackpot with an early investment in Tencent, on Wednesday spun out its 31% stake in the Chinese internet group by listing a new company on Amsterdam’s stock exchange. Called Prosus, the company was worth €95 billion ($105 billion) at listing, making it the biggest consumer tech […]