South African Rupert Displaces Dangote As Africa’s Richest
President Dangote Group, Aliko Dangote, has been overtaken as African richest man after his net worth dropped by 20.7 per cent.
It was amid the naira devaluation implemented by the Central Bank of Nigeria (CBN), Forbes Billionaire Ranking...
Africa’s GDP Growth Slowed By 65% – Report
Nigeria, Egypt, and South Africa were responsible for 65 per cent of Africa’s Gross Domestic Product slowdown, McKinsey has disclosed.
The report, which was titled ‘Reimagining economic growth in Africa: Turning Diversity into Opportunity’, stated that Africa’s GDP...
Angola Emerges Top African Crude Oil Producer, Overtakes Nigeria
Angola has emerged the topmost crude oil producer in Africa, upstaging Nigeria as the latter’s output level hits a new low.
The direct communication data in the April 2023 monthly oil market report (MOMR) of the Organization...
IMF Calls For Stiffer Crypto Regulations In Africa
Following the recent collapse of FTX and the subsequent ongoing prosecution of its former Chief Executive Officer, Sam Bankman-Fried, the International Monetary Fund has called for increased regulation of crypto markets in Africa.
IMF made this call on...
'Nigeria, Africa Require $40bn For Stable Electricity'
Nigeria and African countries will require an average of $40bn power grid investments annually for about five years to deliver stable electricity to citizens on the continent, the Group Managing Director, Sahara Power Group, Kola Adesina, has said.
He...
IFC Approves $35m For Food Security In Africa
The International Finance Corporation (IFC) is offering a $35 million financing package to Jubaili Agrotec, a Nigeria-based agrochemicals manufacturer and distributor, to increase smallholder farmers’ access to key input and boost food production to strengthen food security...
