Microsoft to invest $298M in South Africa to boost AI and digital skills
Microsoft is set to invest an additional 5.4 billion rand (approximately $296.81 million) to enhance artificial intelligence (AI) infrastructure in South Africa. Microsoft's Vice Chair and President, Brad Smith, announced…
Trade sense license suspended by CMA for three months
The Capital Markets Authority (CMA) has announced the suspension of the money manager license issued to Trade Sense Limited for 90 days.In a statement on March 4, CMA Chief Executive…
Nigeria’s FCCPC sues Multichoice over new tariff hike
The Federal Competition and Consumer Protection Commission (FCCPC) has filed a suit against MultiChoice Nigeria over the new cable TV tariff hike. Multichoice, owners of DSTV and GOTV, had announced…
Nigeria boost its oil production by 70,000 bpd
Nigeria is currently producing 70,000 barrels per day in excess of its OPEC+ target, as reported by a Reuters survey. The survey indicates that oil production from the Organization of…
Nigeria joins EBRD to foster trade ties with Europe
Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD) as its 77th shareholder. This milestone follows Nigeria's application in April 2024, which received approval from the EBRD's…
Nigeria to transform rail service with new 5 year plan
The Nigerian Railway Corporation (NRC) has announced a comprehensive reform plan aimed at transforming the country’s rail sector within the next five years, with a long-term vision of achieving global…
Nigeria’s broadband penetration drops to 45.61% amid data surge
Nigeria’s broadband penetration has continued to fall below the 50 percent mark despite a surge in data usage in the country.According to the Nigerian Communications Commission (NCC), broadband penetration stood…
Nigeria’s FX reserves decline by $1.31bn in February 2025
Nigeria’s foreign exchange reserves dropped by $1.31 billion in February 2025, reflecting ongoing external pressures amid a stronger Naira.According to data from the Central Bank of Nigeria (CBN), the reserves…
DMO opens subscription for March 2025 bond at 17.635%
The Debt Management Office (DMO) has opened subscription for March 2025 bond with an attractive interest rate of 17.635% per annum. The subscription window opened on Monday, March 4, 2025,…
South Africa sees modest economic growth in Q4 2024
South Africa's economy experienced a modest recovery in the fourth quarter of the previous year, buoyed by a rebound in agricultural production following a contraction in the preceding quarter.However, the…
