Zimbabwe becomes world’s most expensive place to fuel a car.
Africa is championing the list of world’s most expensive place to fuel a car courtesy of Zimbabwe. The question is how the this come to be?
Back in 2017, before the stepping down of President Robert Mugabe; Zimbabweans held a … Read More
Shell signs gas supply and aggregation agreement for Aba Integrated Power Project (IPP)
The Shell Petroleum Development Company of Nigeria Limited (SPDC) recently signed an agreement with Geometric Power Aba Limited (GP) and Gas Aggregation Company of Nigeria (GACN). The gas supply and aggregation agreement will enable GP and GACN … Read More
Cross River Garment Factory becomes export-licenced company for Made in Nigeria clothing.
The Nigerian government through the Nigerian Export Promotion Council (NEPC) have granted Cross River Garment Factory the licence to export Made in Nigeria clothing beyond the shores of Nigeria to other parts of the world.
The Nigerian government … Read More
Rwanda calls for African partnership to help boost African economy.
Rwanda, the landlocked East African country recently held a Trade Facilitation and Manufacturing forum in Kigali. At the forum, Rwandan top officials stressed on the need for deeper African partnership especially between its fellow East African neighbours. The Forum served … Read More
Ugandan Ministry of Transport and Works together with Trade Mark East Africa (TMEA) have handed over the newly constructed Elegu One Stop Border Post (OSBP) to Uganda Revenue Authority (URA).
Just after construction of the new Elegu One Stop Border Post (OSBP); the Ugandan Ministry of Transport and Works and … Read More
Angola have joined the Gas Exporting Countries Forum (GECF).
Angola have now become a member of the the Gas Exporting Countries Forum (GECF). They are now the sixth African member to join the forum after Nigeria and Equatorial Guinea.
The Gas Exporting Countries Forum (GECF) is a transnational organization consisting … Read More
LCCI advocates for increased private investments in Nigeria economy.
President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Ruwase, said Nigeria economy is in need of private investments. These investments will help create jobs, diversify the economy and also improve the welfare of the country’s inhabitants.
He … Read More
Ghana launches Commodity Exchange for Agricultural products.
Ghanaian President Nana Akufo-Addo, have launched a commodity exchange in Ghana. The exchange will help farmers market their products and also receive payments within 24 hours.
The Ghanaian government has also identified the commodity exchange as a key driver in realizing its goal … Read More
Rwanda and Alibaba sign an electronic world trade platform (eWTP) agreement to help boost economy.
The Rwandan government and Alibaba Group, a leading international online commerce company; have signed three (3) Memoranda of Understanding (MoU) to help boost the country’s economy.
Under the agreement, Alibaba have also established an electronic … Read More
KfW development Bank supports Nigeria’s Infrastructure development with €31 million investment.
To help boost infrastructure development in Nigeria; the largest investment bank in Europe, KfW Development Bank have invested €31 million. Receiving the €31 million investment is Infrastructure Credit Guarantee Company Ltd (InfraCredit). InfraCredit is a specialised infrastructure credit enhancement … Read More
Exxon Mobil set to begin Oil exploration in Ghana.
Exxon Mobil, the world’s fourth largest oil company is ready to begin full-scale exploration for oil in Ghana. The base for the exploration is the West Cape Three Points in the Western Region; near Ivory Coast.
The Global Oil giant has … Read More
Chad to get US$125 million developmental support from World Bank
To help support developmental projects in the Chad; World Bank have announced a US$125 million support for the Central African country.
Acoording the the Bank, the support will two frameworks. The signatories for the support agreement were Chadian minister of … Read More
Uganda gets US$212 million from Chinese government for Rural Electrification Programme.
The Chinese government have given a US$212 million loan to Uganda to help support its rural electrification programme. Uganda plans to increase its rural electrification access rate to 51 per cent by 2030. Under the rural electrification programme it … Read More
Mali’s 90MW power plant to go online by next week
Mali’s first independent power project, a 90MW power plant will become active by next week. The 90MW plant costs about US$139.06-million (€122-million), and will also help drive foreign investment in the West African country. It’s location is in the gold-rich … Read More
USADF have provided Nigerian cooperative societies with US$24 million to help boost local enterprises and rural farming.
To improve rural farming and local enterprise in Nigeria, cooperative societies in Nigeria receive about US$24 million in grants by the United States African Development Foundation (USADF).
Reports from Diamond Development Initiatives (DDI) … Read More
Some companies in South Africa get tariff exemption from U.S on its Steel & Aluminum products.
Some local producers in South Africa have receive steel & aluminum tariff exemption from the United States Government. President Donald Trump’s decision last year to enact a 25 percent and 10 percent tariff on … Read More
Nigerian agricultural sector will receive investment from Brazil worth US$1.1 billion by the end of October 2018.
The Nigerian agricultural sector will receive a US$1.1 billion investment from the Brazilian government by the end of October 2018. This information is according to Ricardo Guerra de Araujo, Brazil’s Ambassador to Nigeria. … Read More
Nigerian House of Representatives oppose selling of Ajaokuta Steel company by Federal Government.
The Central Bank of Nigeria (CBN) governor Mr. Godwin Emefiele, recently also confirmed that the federal government is planning to sell the Ajaokuta Steel Company. He made the announcement while addressing Nigerian delegation at the International Monetary … Read More
African economies rank least competitive in World Economic Forum (WEF) 2018 report .
World Economic Forum (WEF) 2018 report says various African Economies have remained uncompetitive. The reason its says is especially due to weak institutions and inadequate public policies.
In the WEF 2018 report; US Economy topped the world … Read More
The Nigerian Senate have given approval for a US$2.786 billion eurobond issue.
The Nigerian Senate have approved a US$2.786 billion Eurobond issue. While approving the eurobond, the senate also urged the country to focus on increasing revenue and limit its foreign borrowing. This it says is to avoid a cleverly … Read More