South African President Cyril Ramaphosa is in New Delhi for the 18th BRICS Summit, where leaders are discussing trade, investment, technology, energy and global security. The summit brings together the expanded BRICS membership, including South Africa, Egypt and Ethiopia. The meeting comes at a time of growing tension over global conflicts, international trade and the […]
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The United States is stepping deeper into Africa’s telecommunications sector with a planned loan of almost $100 million to Africell. The financing is expected to help the telecom company invest in newer mobile-network technology supplied by American and allied technology companies. The move is part of Washington’s wider effort to increase the use of Western […]
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Aliko Dangote is taking his refinery ambitions beyond Nigeria. His group plans to build a $15–16 billion refinery in Lamu, Kenya, with a proposed capacity of 700,000 barrels per day. The project is expected to be groundbreaking later this month and could be completed around 2030. If completed, the refinery would become a major energy […]
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After more than a decade on Nigerian roads, Uber has ended its operations in Nigeria. The ride-hailing giant officially stopped operations on September 2, 2026, bringing its 12-year Nigerian journey to an end. Uber entered Nigeria in 2014, beginning in Lagos before expanding into other cities. Uber said the decision followed a review of its […]
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Nigeria’s Dangote Petroleum Refinery is heading to the Nigerian stock market in what is expected to become Africa’s biggest-ever share offering. The refinery plans to raise about ₦2.15 trillion ($1.63 billion) through the sale of 4.1 billion shares at ₦525 each. The offer is expected to open on September 14 and run until October 13, […]
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ABUJA — Nigeria recorded a ₦12.59 trillion merchandise trade surplus in the second quarter of 2026, according to fresh figures from the National Bureau of Statistics. The country’s total merchandise trade reached ₦41.44 trillion between April and June. Exports accounted for about ₦27.02 trillion, while imports stood at approximately ₦14.42 trillion. The latest surplus represents […]
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LAGOS — Dangote Petroleum Refinery is moving ahead with what is expected to become Africa’s biggest-ever IPO, offering Nigerians and other investors an opportunity to buy shares in the massive Lagos-based refinery. The company plans to offer 4.1 billion shares at ₦525 each, potentially raising about ₦2.15 trillion ($1.6 billion). The offer is expected to […]
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Kenya has moved to tighten restrictions on foreigners operating certain small-scale businesses, sparking concern among foreign traders and reactions from other African countries. President William Ruto has said foreigners remain welcome to invest in Kenya, but small businesses such as petty trading and hawking should largely be left to Kenyans. The policy has already created […]
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Ghana has introduced tighter rules around the export of unrefined artisanal gold as the country seeks to capture more economic value from its gold resources. Under the new policy, gold doré purchased by self-financing aggregators must undergo local refining before it can be exported. The government wants more of the processing and economic benefits associated […]
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Uber has officially ended its ride-hailing operations in Nigeria, bringing its presence in the country to an end after years of operation. The company also exited Uganda as part of the latest restructuring of its African business. Uber’s departure leaves existing competitors with an opportunity to expand their market share as millions of passengers and […]
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