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
Nigeria mining sector set to get US$3.32 billion as private investors show interest.
At the ongoing Third Annual Nigeria Mining Week in Abuja, Nigeria’s Minister of State, Mines and Development Alhaji Abubakar Bwari, said private investors are ready to commit about US$3.32 billion to fund projects in Nigeria’s mining sector.… Read More
Ghana to receive grant from Germany to support four broad areas of its economy.
To support four broad areas of Ghana’s economy, Germany has announced a grant of €86.5 million. The approval for the grant came after a bilateral negotiations in Accra last week.
The grant will support reforms and … Read More
The value of Sudanese pound increases for the first time after devaluation.
According to bankers, the Sudanese pound have gained weight as it now values at 46.95 to the US dollar. This is the first rise since the devaluation of the Sudanese national currency. The devaluation is a new strategy … Read More
AFC acquires US$300m loan facility from CEXIM
Leading infrastructure development finance institution in Africa, Africa Finance Corporation (AFC) successfully acquired a US$300 million loan from Export-Import Bank of China (CEXIM). Making up the loan is a US$200 million 5-year loan and also a US$100 million 5-year stand-by facility. The loan … Read More
South Africa have acquired US$35 billion out of the US$100 billion it needs for reviving its economy.
South Africa have received investment pledges of about US$35 billion as part of its plans to attract US$100 billion. The US$100 billion is for reviving the country’s economy.
The South Africa president Cyril … Read More
Ghana’s earnings from oil exports exceeds that of cocoa for the first time.
According to current figures from Ghana’s central bank, revenue from oil have surpassed revenue from cocoa for the first time. Since January this year the country have made more money from the Oil sector than the Cocoa … Read More
Gas flare penalty increased to US$2 per 1000 scf
The Nigerian government have increased gas flare penalty from N10 to $2 or N612.8 per thousand standard cubic feet (scf) of gas.
This penalty applies to any firm that produces 10,000 barrels of oil per day and above. For firms producing … Read More
Tunisia gets US$245 million loan installment from IMF
According to reports, the International Monetary Fund (IMF) have approved a loan installmental payment of US$245m to Tunisia. This approved sum is the fifth payment under the loan programme between IMF and the North African country.
The IMF loan programme will aid … Read More
Zinox Group targets to hit US$10 billion investment by 2021.
Zinox CEO, Leo-Stan Ekeh recently disclosed that the group is targeting to achieve US$10 billion investment by 2021. The group comprises of Zinox Technologies, Technology Distribution (TD), Task Systems, ICT brokers, ICT Connect and Konga.
The CEO before retiring to … Read More
Highlights of the just concluded FIDIC Conference in Berlin (9th -11th September 2018).
FIDIC have just concluded this year’s 2018 conference in Berlin, Germany. FIDIC in conjunction with VBI (German Association of Consulting Engineers) organised the conference with its focus on Mobility and Smart Infrastructure.
Still wondering … Read More
Nigeria and Japan sign MoU on Infrastructure Investment.
For the promotion of quality infrastructure investment between Nigeria and Japan, both countries have signed a memorandum of understanding (MoU). Representing both countries for the MoU signing in Abuja was Nigeria’s minister of transportation Rotimi Amaechi and Japan’s State Minister of Land, … Read More
The kingdom of Swaziland gained its independence on the 6th of September 1968 from the United Kingdom.
The Kingdom of Swaziland, is a sovereign state in Southern Africa. It’s neighbored by Mozambique to the northeast and by South Africa to its north, west and south. It’s a gorgeous green and … Read More
Kenya seeking for China to split the cost into a loan and grant for the SGR extension.
Kenya are seeking fund from China for the extension of its Standard Gauge Railway (SGR) to Kisumu. The nation is asking for China to foot half of the bill for the extension of … Read More
Dangote ranks most valuable brand in Nigeria for 2018.
Brand Nigeria after a survey have named Dangote, Nigeria’s multinational industrial company the most valuable brand in Nigeria for 2018. This is coming barely three months after Dangote was also declared the most admired brand of African origin by consumers.
Dangote … Read More
China to support African development with US$60 billion
China president Xi Jinping yesterday said the Chinese government will be financing Africa with US$60 billion. He added that Chinese companies will also invest at least US$10 billion over the next three years. He made this statement at the opening ceremony of … Read More
Chad Republic and Ethiopian airlines recently signed an agreement to launch a new national carrier for Chad by October 1st.
Chad republic through its Chad’s Civil Aviation Authority have sign an agreement with Ethiopian airlines for a new national carrier in Chad.
International Air Transport Association ranks Ethiopian Airlines as … Read More
The long awaited visit from UK Prime Minister to Africa is over but the question is what are the benefits. So many people feel that the visit to the three Africa nation is part of plans to expand their relationship. This is due to the propose Brexit from the european … Read More
South Africa government is set to put plan of renewable energy to use
South Africa government has launch its weight behind renewable energy in the new integrated resources plan (IRP). Meanwhile, the plan will see no increase in use of nuclear energy up until the year 2030.
Minister of Energy … Read More