Microsoft to counter China’s influence in Africa with new $80 billion investment
Microsoft is set to invest $80 billion in artificial intelligence (AI)-enabled data centers worldwide during the fiscal year 2025, with more than half of the investment allocated to the United…
Tax revenue shortfall looms with departure of wealthy tax payers
South Africa is grappling with a significant tax revenue loss of R3 billion following the departure of approximately 38,000 high-income earners who have ended their tax residency in the country.…
Egypt to receive $1.2 billion IMF support in January 2025
Finance Minister Ahmed Kujok said on Sunday that Egypt expects to receive $1.2 billion in payments from the International Monetary Fund this month under an $8 billion program with the…
Nigeria’s FX inflows rose to $46.92 billion in 2024 – CBN
A new report by the Central bank of Nigeria CBN says the net foreign exchange inflow rose by 65.7%, hitting $46.92 in the first 10 months of 2024. The report…
Green Africa Airlines signs new aircraft deal with Boeing
Nigeria’s new Green Africa Airlines has signed an $11.7 billion deal with Boeing to buy 100 737 Max8 aircraft. The pending spin-off will see Africa’s largest airline split into 50…
China’s Foreign Minister begins 4-nation visit in Africa
Wang Yi, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and China’s Foreign Minister, is visiting Namibia, the Republic of the Congo, Chad,…
Telecom companies to address operational cost with new tariff
Nigerian Telecom Companies are proposing a 100% increase in their tariff to address operational cost and increased service delivery expenses. The new proposal, announced by the Chief Executive Officer, MTN…
8 African Startups to Watch in 2025
The African tech landscape is poised for a transformative 2025, buoyed by innovative startups that are reshaping industries and creating new economic opportunities. This year 2025, investors have their sights…
Aya Gold & Silver to Invest $50 Million in Morocco
Aya Gold & Silver Inc., based in Montreal, has reached a significant milestone with the commencement of commercial production at its expanded Zgounder silver mine in Morocco. The company also…
NLC lament State governments’ poor economic performance despite increased allocations
The management of revenue allocations by state governments has been scrutinised by the Nigerian Labour Congress, activists and economists as 36 state governments received a total allocation of N5.22 trillion…