ECOWAS sets 2027 deadline for the Eco Currency
The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launching the Eco, a single regional currency, by 2027. This renewed commitment comes after years of delays,…
Nigeria, UN to invest $500 in solar energy development
Nigeria, in collaboration with the United Nations' Sustainable Energy for All (SEforALL) initiative, has launched a $500 million fund to bolster the country's renewable energy sector. The fund aims to…
OMO sales decline after hitting one year high
The Open Market Operations (OMOs) by the Central Bank of Nigeria (CBN), which rose to as high as 18 times in one year, are seen declining as inflationary pressures slow.The…
Fintech firm unveils new software to reduce loan default rates
Nigerian fintech company Finntrak has presented an innovative credit rating software which allows banks to evaluate their customer base and reduce loan defaults.The software which uses data analytics and artificial…
Dangote Refinery secures shipment of crude from Algerian firm
The Dangote Petroleum Refinery has secured its first shipment of one million barrels of Algeria’s Saharan Blend crude, to mitigate local crude oil supply challenges. This development is a show…
Nigerian stock market closes February strong as Dangote Cement leads the rally
The Nigerian stock market wrapped up February 2025 on a strong note, with the All-Share Index (ASI) climbing 3.18% to close at 107,821.39 points, up from 104,496.12 points at the…
CBN tackles $3T illicit fund flow with new bank rules
The Central Bank of Nigeria (CBN) has directed financial institutions across the country to meet global banking standards to curb the movement of US$3 trillion in illegal funds around the…
Unlocking business growth with digital tools
With today’s economy becoming more digital-driven, businesses that fail to embrace technological advancements risk falling behind. Digital tools have become essential for streamlining operations, improving customer engagement, and driving revenue…
Kenya inflation hits 3.5%, highest in five months
Kenya’s annual inflation rate climbed to a five-month high in February, hitting 3.5% as food prices continued to increase. The new inflation figure was released in a statement by the…
AfDB and Standard bank partner to empower SMEs and trade
The African Development Bank Group and Standard Bank Group have signed a new agreement to improve funding for small and medium-sized micro-companies and expand trade across Africa.The agreement included investment…
