The Cinema Exhibitors Association of Nigeria (CEAN), the country’s premier Film Trade Association Body, has announced good news for cinema lovers on the occasion of the International Cinema Day. Opeyemi Ajayi, the chairman of the Cinema Exhibitors Association of Nigeria (CEAN), said in a statement on Tuesday in Lagos that cinema lovers would enjoy discounted […]
Gold is heading for its seventh weekly acquire as it advantages from a especially weak dollar and inflation expectations globally. Bullion, valued by way of traders in instances of crisis as a secure haven and additionally a hedge in opposition to inflation, has experienced a surge in demand and buying and selling nearer to $1,900 […]
According to forecasts from the Institute for Studies and Security (ISS), based in Pretoria , South Africa, Angola could become the fourth largest economy in Africa before 2050. During the aforementioned time the nation will have a nominal GDP of USD 994 billion behind Nigeria, South Africa and Egypt, according to the ISS report. The […]
Employees of the troubled national carrier SAA are demanding to be part of the decision-making structures at the reconfigured airline now expected to emerge from its ruins. Cosatu affiliate the SA Transport and Allied Workers’ Union (Satawu) wants SAA staff represented in all of the new airline’s governance and decision-making structures, regardless of the form […]
Despite the effects of COVID-19, Africa’s young creative industries remain ripe for investment opportunities. African music, film, and fashion continue to gain global popularity, with companies like Netflix and Universal Music Group expanding their presence on the continent. Nigeria’s film industry, Nollywood, accounted for $7.2bn or 1.42 percent of Nigeria’s GDP in 2016, and South […]
China became the first major economy to grow since the start of the coronavirus pandemic, recording an unexpectedly strong 3.2 per cent expansion in the latest quarter after anti-virus lockdowns were lifted and factories and stores reopened. Growth reported Thursday for the three months ending in June was a dramatic improvement over the previous quarter’s […]
Zero-based budgeting will be instrumental in curbing public debt, according to Business For South Africa. The organisation, which represents a vast majority of business organisations in the country, on Friday released a 12-point economic recovery plan, estimated to require R3.4 trillion over the next three years. During a briefing on the plan, B4SA’s Martin Kingston […]
The President, Major General Muhammadu Buhari (retd.), has given an approval to the Federal Ministry of Aviation to stop all aides of public office holders and other very important personalities from gaining entry into airport terminals. According to the Minister of Aviation, Hadi Sirika, all special assistants or personal assistants of VIP are no more […]
As COVID-19 cases surged in many parts of the world, the island nation of the Seychelles was looking good: 70-plus straight days without a single infection. Then the planes arrived. Two chartered Air Seychelles flights carrying more than 200 passengers also brought the coronavirus. A few tested positive. Then, between June 24 and 30, the […]
The International Monetary Fund’s discussions with South Africa over a $4.2 billion loan to support its fight against the coronavirus pandemic are taking place at a “measured pace” because the country’s deep and liquid capital markets ensure it still has access to financing, according to the director of the Washington-based lender’s Africa department. “The key […]
While the mining industry overall was hard hit by the coronavirus pandemic, it is junior miners who sustained the heaviest blows – with some fighting to survive as their viability is threatened. The mining sector ramped up production as lockdown regulations were eased, but emerging miners are adjusting to a “new normal” which is set […]
Kenya surpassed Angola as sub-Saharan Africa’s third-largest economy in dollar terms, according to International Monetary Fund estimates. Angola has contracted every year since 2016 as oil output declined, and the kwanza was devalued in 2019 while Kenya’s shilling held steady. The coronavirus pandemic and restrictions to limit its spread will probably see Angola’s gross domestic […]
There is a lot of talk about the role and the mandate of the SA Reserve Bank and emotions seem to rise when the economy is in a rut and solutions prove elusive. Critiques of the bank are plentiful but orchestrated reaction and co-ordinated attacks ring hollow when fiscal policy, or the lack thereof, is […]
President of the African Development Bank AFDB Akinwunmi Adesina is in the news! A brewing crisis of succession at the Apex lending institution has put the highly reputed Nigerian former Agriculture minister in murky waters or to put it clearly, intense scrutiny. But support for him is increasing. The latest, from his country Nigeria. Africa’s […]
The economy of Nigeria – the most populous country in Africa, with more than 200 million inhabitants – was transformed post-independence with the adoption of an International Monetary Fund (IMF) programme in 1986, which kick-started economic liberalisation. The repeal of indigenisation decrees and exchange controls, as well as privatisation of public corporations, induced a wave […]
The federal government slashed the pump price of PMS when the price of crude fell at the global market with government officials saying that marked the end of fuel subsidy. Now that the price of crude is rising and with the Petroleum Equalisation Fund Act still in place, will Nigerians pay more for fuel? Olatunde […]
The country’s year-on-year inflation rate eased to 5.47 per cent in May from 5.62 per cent in April, latest data by the Kenya National Bureau of Statistics (KNBS) indicate. This is despite a 0.63 per cent increase in overall Consumer Price Index (CPI), which measures the percentage change in the price of a basket of […]
The company added that these losses were a serious blow to the national economy. In January, the NOC announced an emergency due to its inability to ship oil from Libyan ports. According to the NOC, the shipping was stopped after a relevant order of the Libyan National Army’s (LNA) commander Field Marshal Khalifa Haftar. In […]
South African Airways (SAA) aims to resume domestic flights between Johannesburg and Cape Town from mid-June, the cash-strapped airline said on Tuesday, as coronavirus lockdown restrictions ease. SAA, which is under a form of bankruptcy protection, suspended all commercial passenger flights in late March, when the government imposed one of the strictest lockdowns on the […]