Thirteen African countries have been ranked higher than Nigeria in Forbes Magazine’s Best Country for Business ranking for 2019. Nigeria emerged as the 110th Best Country for Business, below South Africa, ranked 59, Morocco (62), Seychelles (66), Tunisia (82), Botswana (83), Rwanda (90), Kenya (93), Ghana (94), Egypt (95), Namibia (96), Senegal (100), Zambia (103) […]
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Egypt plans to stop importing liquefied natural gas (LNG) by the end of the 2017/18 fiscal year ending in June as it speeds up production at recently discovered gas fields, Petroleum Minister Tarek El Molla said on Saturday. Egypt said previously that it would halt imports by the start of 2019. Molla said the country […]
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Ali Abdelaziz sees children as a “gift from God”, so much so that he has 10 of his own, even as Egypt’s government struggles to stem a “catastrophic” population boom. Abdelaziz works in the capital as a doorman, but his children stay in a village with their mother in the southern province of Minya where […]
Read More Egypt’s inflation dipped for the third month in a row in October after hitting a record high on energy price hikes, leaving the central bank on course to begin loosening monetary policy in coming months. Inflation climbed steadily after the central bank floated the country’s pound in November as part of reforms to secure a […]
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The African Export-Import Bank (Afreximbank) said it has successfully raised $750 million note under its Euro Medium Term Note programme, in a move to boost lending to African borrowers who would enjoy the positive effects of the reduction in cost of funds. As a frontline financial institution in the pursuit of trade and economic integration […]
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Nigeria has emerged one of the top five insurance markets in Africa, ranking fifth with overall market share of 85 percent of premiums in the continent. General-Secretary of the African Insurance Organization, AIO, Ms Prisca Soares at a press conference after the launching of the second Africa Insurance Barometer at the on-going 44th AIO Conference […]
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Egyptian President Abdel Fattah al-Sisi announced a three-month state of emergency following twin church bombings by the Islamic State group that killed dozens on Palm Sunday, the deadliest attacks on the minority in recent memory. The attacks in the Nile Delta cities of Tanta and Alexandria followed a Cairo church bombing in December and came […]
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The Islamic State group claimed responsibility for bombing two Egyptian churches as worshippers gathered to mark Palm Sunday, killing at least 43 people in the deadliest attacks on the Coptic Christian minority in recent memory. The attacks followed a Cairo church bombing in December and came weeks before a planned visit by Catholic Pope Francis […]
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Bombings at two Egyptian churches killed more than 35 people as they gathered to mark Palm Sunday, officials said, in one of the deadliest recent attacks on the country’s Coptic Christians. The attacks on the Mar Girgis church in the city of Tanta north of Cairo and Saint Mark’s Church in the coastal city of […]
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Cairo’s population is set to grow by 500,000 this year, more than any other city in the world, adding to the pressure on an Egyptian economy struggling to recover from six years of political turmoil. Greater Cairo, a metropolitan area including Cairo and parts of the Giza and Qalyubia provinces, is home to some 22.8 […]
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The Nigerian Employers’ Consultative Association has asked the Federal Government to emulate reforms that have helped countries with similar economic indices as Nigeria such as Ghana, Indonesia, Russia, Norway and Saudi Arabia. According to correspondent, President of the association, Mr. Larry Ettah, said that the country’s rationing of scarce foreign exchange had produced FX market […]
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A currency devaluation may do little to fix Nigeria’s problems unless it follows the examples of emerging market peers Egypt, Argentina and Russia and embraces floating exchange rates. Grappling with recession, widespread dollar shortages, a budget funding gap and international lenders’ reluctance to provide loans, Nigeria has moved tentatively to devalue its currency. The naira […]
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