OPEC invests $30M in Africa’s largest onshore wind farm in Egypt
The OPEC Fund for International Development has committed $30 million to co-finance the construction of Africa’s largest onshore wind farm in Egypt's Gulf of Suez region. This project will feature…
Rwanda confirms first oil discovery in Lake Kivu
Rwanda has officially announced its first oil discovery in Lake Kivu, confirming the presence of 13 reservoirs within the lake, which borders the Democratic Republic of Congo (DRC). The discovery,…
Kenya opens talks with UAE to finance regional rail project
Kenyan President William Ruto said he had begun talks with the United Arab Emirates to secure financing for the completion of Kenya’s regional railway after China cut off infrastructure funding…
FAAN to revamp Airports with N580 billion
The Federal Airports Authority of Nigeria says 580 billion Naira is needed to improve airport runways nationwide.FAAN Director General, Mrs Olubunmi Kuku, lamented the state of the country’s runways while…
Barrick Gold confirms temporary suspension of operations in Mali
Barrick Gold Corporation has temporarily suspended operations at its Loulo-Gounkoto mining complex in Mali, citing ongoing disputes with the country’s military government. The decision follows the seizure of approximately $245…
New cash transfer plan to benefit 70 million Nigerians
The Nigerian government has announced plans to distribute ₦75,000 cash as part of its social safety program for the poor and most vulnerable in the country.The Minister of Humanitarian Affairs,…
Nigeria’s inflation rate hits 34.8%, highest in decades
Nigeria's headline inflation rate rose to 34.80% in December 2024, up from 34.60% in November 2024, a slight increase of 0.20% from the November 2024 figure of 34.60%, largely attributed…
South African billionaire exits BAT with £1.22 billion Sale
South African billionaire Johann Rupert, the country’s wealthiest man, has officially severed his family’s long-standing ties with the tobacco industry. Through Reinet Investments, Rupert finalized the sale of 43.3 million…
Cost of production, decline in market value, plagues Kenya’s horticulture exports
New producers in the horticulture sector have raised concerns about the rising cost of production, warning that it could reduce the country’s share of the global economy and emerging markets.They…
Nigeria’s real estate surpasses crude oil now the country’s third-largest sub-sector
The National Bureau of Statistics (NBS) has disclosed the recent GDP rebasing exercise has positioned the real estate sector as Nigeria's third-largest sub-sector.This shift sees real estate surpass crude petroleum…
