France’s Lesaffre to invest additional $100 million in Egypt
Lesaffre, a company based in France, has announced its plans to enhance its investment in Egypt, targeting a total of $100 million.Minister of Investment and Foreign Trade, Hassan El Khatib,…
Nigeria targets economic growth with tax incentives for small businesses
The Nigerian government has reiterated its dedication towards assisting micro, small, and medium enterprises by implementing tax incentives designed to promote growth and sustainability within this sector.The government had initially…
Mali, Niger, Burkina Faso to boost security with Russian deal
Mali, Niger and Burkina Faso announced they have signed a deal with Russia to buy communications and surveillance satellites.The three West African countries, under military regime, have struggled for years…
Ghana to increase electricity and water tariffs from October 1
Ghana has announced plans to hike electricity and water bills starting from October 1, 2024. The Public Services Commission (PURC), in a statement on Saturday, September 28, announced that electricity…
Bank recapitalisation will make Nigeria a $1 trillion economy – NDIC
The Nigeria Deposit Insurance Corporation (NDIC) has emphasized the importance of banking recapitalization in driving Nigeria towards its goal of becoming a $1 trillion economy, a vision recently outlined by…
Zimbabwe’s new currency, ZIG, depreciates by 40%
Zimbabwe's newest currency, the ZiG (Zimbabwe Gold), has seen a devaluation of over 40% against the US dollar, as the Reserve Bank of Zimbabwe (RBZ) struggles to stabilise the country's…
What does Nigeria’s latest interest rate hike mean for the economy?
The Central Bank of Nigeria (CBN) has raised its benchmark interest rate to 27.25%, marking the fifth consecutive increase in recent times. This move is part of the CBN's ongoing…
Nigeria to cut food imports with new strategy
The Nigerian government is preparing to reduce its dependence on food imports with a new strategy designed to elevate domestic agricultural production and ensure fortify food security.Speaking in a press…
Access Bank expands with acquisition of Tanzania’s BancABC
Access Bank PLC has successfully met all legal and regulatory requirements to complete its acquisition of African Banking Corporation (Tanzania) Limited (BancABC). With this acquisition, Access Bank solidifies its presence…
ExxonMobil to invest $10 Billion in Nigeria
ExxonMobil plans to invest $10 billion in Nigeria's deep-water oil operations. The investment was announced during a high-level meeting between Nigeria’s Vice President, Kashim Shettima, and ExxonMobil executives on the…
