Cameroon’s economic growth rate is expected to slip to 3.7 percent this year, down from an earlier estimate of around 4 percent, due to falling oil production, the International Monetary Fund said on Friday. The IMF approved a $666 million, three-year extended credit facility in June for Cameroon, which has been hit hard by the […]
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Vice-President Yemi Osinbajo on Thursday described the continent of Africa as a land of immense opportunities, noting that Foreign Direct Investment inflow into the region was expected to hit $75.5bn by the end of this year. Osinbajo stated this in Abuja at the opening session of a two-day high level policy and private sector forum […]
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The Peoples Republic of China has disbursed over $30 billion in funding support to Nigeria and other African countries to drive its cooperation plans on industrialisation and agricultural modernisation. The Director, Centre for China Studies, Mr. Charles Onunaiju, said the fund was part of the $60bn pledged by China to African countries during the Forum […]
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Heads of state within the Economic Communities of West African States have called for more investment in air transport to boost regional growth, as Med-View Airline begins flight services to Abidjan, Cote d’ Ivoire; Conakry, Guinea; and Dakar, Senegal. Med-view commenced flight services into Francophone West Africa with its Boeing 737-500 as part of its […]
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West African nations have started putting arrangements in place to enable them import petroleum products from Nigeria’s $12 billion Dangote refinery, barely two years ahead of its planned completion in 2019. Investigations by Vanguard showed that the nations which currently depend on the international market for supplies would be interested in importing commercial petroleum products […]
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Lafarge Africa Plc has said it will be investing over ₦132 million to train hundreds of truck drivers in the country in furtherance of its commitment to safety in its operations. According to the company, the first batch of 200 drivers will be part of a three-year strategic training plan for 600 drivers. The Director […]
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Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South African are the biggest economies in Africa south of […]
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Director of Special Projects, African Development Bank (AfDB), Dr Sipho Moyo, has said Africa’s fashion industry was best kept treasure capable of changing the continent’s economy. She told newsmen in Lagos on Sunday, on the sidelines of the “Fashionomics African Disrupt/Fashion Masterclass’’ that African fashion was unique. The Masterclass was organised by AfDB in partnership […]
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International businessman, investor and former governor of Abia State, Dr. Orji Uzor Kalu has urged African leaders to embrace economic diversification. He urged them to allow the private sector to be in-charge of businesses or consider the alternate option of living in regrets . He said government has no business in businesses and that selfishness […]
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The African Development Bank (AfDB)’s new initiative Technologies for African Agriculture initiative will produce 513 million tonnes of additional food across Africa. It will also lift nearly 250 million Africans out of poverty by 2025. A statement from the bank said 25 African countries have written letters, confirming their interest and readiness to participate in […]
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South Africa’s finance minister received some faint praise last week — not for the economy’s performance, but for admitting the country is in a dire position that is set to get worse. Malusi Gigaba delivered a mid-term budget that laid bare South Africa’s struggle with slow growth, tax income shortfalls, rising debt and high unemployment. […]
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When it first arrived Nigeria sometime in 2016 probably from western hemisphere, not many expected it to spread to over 40 countries in Africa in a year. That is the story of Fall armyworm that is marching across Africa, decimating crop lands and causing substantial financial losses, yet its soldiers are only 1.5 inches tall. […]
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