Russia and Congo set to increase energy cooperation
Russia has been consolidating its energy-related agreements with several African nations over the past few years. Conversations about such deals have gained momentum in light of the Russian Energy Week,…
Uganda receives first batch of pipes for crude oil project
Uganda has marked a milestone in the East African Crude Oil Pipeline (EACOP) project with the arrival of the first batch of pipelines in the Kitla Region.The coated pipeline will…
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…
