Nigeria to benefit from €150 billion EU initiative
Nigeria is expected to be a significant beneficiary of the commitment to support infrastructure development through the Global Gateway programme, which plans to invest $150 billion across Africa by 2027.Massimo…
Naira hit 6 month high in January 2025
The Nigerian Naira concluded January 2025 at a rate of N1,475 per dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), achieving its most robust performance since June 2024.On June…
Dangote Refinery responds to global energy market dynamics with price cut
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), from N950 to N890 per litre.This move, the refinery states, is in response to favorable developments in…
Gabon’s Manganese sector drives economic growth as demand surges globally
In 2024, Gabon experienced significant revenue growth, largely driven by its manganese mining sector. Gabon is one of the world’s largest producers of high-quality manganese, ranking second in Africa after…
Land confiscation; Trump threatens to cut funding for South Africa
US President Donald Trump has announced his intention to terminate all forthcoming financial assistance to South Africa due to accusations of land confiscation and the alleged mistreatment of specific groups…
Airtel and MTN mobile money services under investigation for customer fraud
The Common Market for Eastern and Southern Africa (COMESA) is investigating allegations of fraud and irregularities in the use of mobile money services by Airtel and MTN. Airtel is under…
Zambia’s Samuel Maimbo to contest for AFDB presidency
Zambia's Samuel Maimbo has joined the presidential race for the African Development Bank, AFDB, noting that he will rebuild the bank and help create a middle income status for the…
Ghana pegs interest rate at 27% in line with 2025 growth projection
The Central Bank of Ghana kept its policy rate steady at 27% at its Monetary Policy Committee meeting this week and explaining that the decision is based on the growth…
Tanzania, Burundi to boost trade ties with new standard gauge railway
Tanzania Railways Corporation has signed a $2.154 billion contract to build the 282 km Standard Gauge Railway (SGR) from Uwenza to Musongati.The agreement was signed by the governments of Tanzania…
Nigerian government unveils new tech program
The Nigerian government has launched a new tech program to equip young people with the requisite skills and knowledge needed to thrive in Data Science and Artificial Intelligence. The Communications…
