Ghana’s cedi is facing fresh pressure as demand for US dollars rises in the country’s foreign exchange market. Recent market data showed the cedi weakening against the dollar as demand from companies and offshore investors increased. The development comes as Ghana continues to manage its economic recovery and strengthen foreign exchange reserves. The country’s gold […]
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LAGOS — Plans to take the Dangote Petroleum Refinery to the Nigerian capital market have taken another major step forward. The refinery has completed a $1 billion underwriting programme as preparations continue for its proposed Initial Public Offering. The planned listing could become one of the most significant transactions in Nigeria’s capital market and could […]
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LAGOS — The African Reinsurance Corporation, popularly known as Africa Re, has reported strong financial performance for the first half of 2026. The company recorded insurance service revenue of $664.8 million, representing an 8.5 per cent increase compared with the same period last year. Africa Re also reported a net profit of $96.7 million for […]
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LAGOS, Nigeria — The Dangote Refinery is moving closer to what could become one of Africa’s biggest stock market listings. The refinery has secured a $1 billion underwriting programme ahead of its planned public offering, according to Reuters. The planned listing could raise about $5 billion and would give investors an opportunity to take part […]
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Accra, Ghana — Ghana’s cedi is facing renewed pressure against the US dollar as demand for foreign currency rises. The cedi weakened from about 10.90 to 11.00 per dollar in one week, according to market data. The pressure is being linked to strong demand for dollars from companies and offshore investors, while available supply has […]
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Nigeria’s banking sector continues to focus heavily on capital strength as banks position themselves for a more competitive financial market. One of the major recent capital-raising exercises was the ₦351 billion rights issue by Access Holdings. The transaction involved the issuance of more than 17.7 billion ordinary shares and was designed to strengthen the group’s […]
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Zimbabwe is preparing to host the 25th COMESA Heads of State and Government Summit in Harare later this year. The summit is expected to bring together leaders from member states to discuss trade, investment, industrialisation and regional economic integration. Zimbabwe’s government has approved plans for the summit, which is scheduled for October 22, 2026. A […]
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ABUJA, Nigeria — Nigeria is making a major push to become one of Africa’s leading digital infrastructure centres, with the Federal Government targeting $750 million in private investment for cloud and data infrastructure over the next two years. The government recently unveiled the National Digital Cloud Policy, designed to attract investment into Nigeria’s growing digital […]
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LAGOS, Nigeria — African e-commerce company Jumia has secured $50 million in new funding as the company continues its push towards profitability. The company announced the new capital alongside its second-quarter 2026 results. Jumia said its gross merchandise value — the total value of goods sold through its platform — reached $216.3 million in the […]
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Accra, Ghana — August 18, 2026 Ghana has moved up to sixth place among the world’s largest gold-producing countries, overtaking the United States. The latest figures show that Ghana produced about 185 tonnes of gold in 2025, equivalent to 5.94 million ounces. The figure represents an increase of more than 23 per cent compared with […]
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