Dangote Petroleum Refinery and Petrochemicals has extended the closing date of its initial public offering (IPO) by two weeks, giving prospective investors more time to participate in the share offer. The offer, valued at approximately ₦2.15 trillion, will now close on October 27, 2026, following approval from the Securities and Exchange Commission. The extension is […]
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MTN Nigeria has announced the restoration of network services following outages that affected subscribers in Lagos and other parts of the country. The telecom operator apologised to customers for the disruption and the inconvenience caused by the service interruption. The outage left some subscribers experiencing difficulties with calls, mobile internet and other network services. Such […]
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Nigerian investors are exploring business opportunities in Uganda across several industries, including cement manufacturing, pharmaceuticals, fish processing, beef production and palm oil. The Nigerian High Commission in Uganda said a delegation of investors was engaging with government ministries, departments and agencies to understand the requirements for establishing businesses in the East African country. The visit […]
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DAKAR — Senegal is targeting an agreement with official creditors and bondholders by December 2026 as the country works to restructure its debt. The move follows the discovery of previously misreported debt estimated by analysts at around $13 billion. Senegal has begun discussions with creditor groups under the G20 Common Framework. The country is also […]
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The World Bank has projected that Nigeria’s economy will grow by 4.3% in 2026, up from an estimated 4.0% in 2025. The improved outlook reflects stronger macroeconomic conditions, investor confidence and signs of recovering private investment. However, the positive growth forecast does not automatically mean that households will immediately experience better living conditions. The World […]
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The World Bank has raised its forecast for Sub-Saharan Africa’s economic growth in 2026 to 4.3%, up from its earlier forecast of 4.0%. The Bank said stronger domestic demand, improved macroeconomic resilience and investment in energy and digital technologies are supporting the region’s growth. But the Bank warned that stronger economic growth is not yet […]
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The Federal Government and the Lagos State Government have established joint committees to work towards achieving 24-hour electricity supply in Lagos. The initiative brings federal and state authorities together to address electricity supply challenges in Nigeria’s largest commercial centre. Reliable electricity remains a major concern for businesses, manufacturers, households and technology companies. Monafrika Business: If […]
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LAMU — A $16 billion oil refinery project has been launched in Kenya as African countries seek to increase their capacity to process crude oil locally. The planned refinery in Lamu is expected to process up to 700,000 barrels of oil per day once completed. Construction is expected to take about 40 months. The project […]
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Nigerian technology company Tango Brook Technologies is expanding its digital fuel-management platform into more African markets. The company says its platform is designed to help businesses monitor fuel spending, reduce leakages and improve control over energy expenses. It currently operates across Nigeria, Ghana, Sierra Leone, the Democratic Republic of Congo and Zimbabwe, according to the […]
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Nigeria is stepping up efforts to become a major global outsourcing destination. Vice President Kashim Shettima has promoted Nigeria’s large young workforce as an opportunity to connect Nigerian professionals with companies around the world. The government hopes the sector can create jobs and bring more foreign income into the country. However, industry stakeholders continue to […]
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