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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LAGOS — August 18, 2026 The Dangote Petroleum Refinery is moving closer to becoming a publicly listed company after securing a $1 billion underwriting programme ahead of its planned Initial Public Offering. The programme includes a $600 million private placement that has already been completed, while another $400 million underwriting commitment has been secured to […]
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ABUJA — August 18, 2026 Nigeria’s headline inflation rate dropped to 15.43 per cent in July 2026, offering some relief after several months of economic pressure on households and businesses. The latest figure represents a decline from 15.91 per cent recorded in June. It is also significantly lower than the 24.94 per cent recorded in […]
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LAGOS — August 18, 2026 The Nigerian naira continued to trade relatively strongly against the United States dollar on Tuesday, offering another sign of stability in the foreign exchange market. Available market data showed the dollar trading around the ₦1,350–₦1,352 range against the naira on August 18. The recent movement represents an improvement compared with […]
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LAGOS — August 18, 2026 Nigeria’s stock market is becoming increasingly concentrated, with 24 major companies accounting for about 74.8 per cent of the total market capitalisation. The combined value of the 24 companies was reported at about ₦117.01 trillion in August. The development shows the enormous influence of Nigeria’s biggest listed companies on the […]
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South African clothing factories are struggling after thousands of migrant workers fled the country during recent anti-immigrant protests. In the manufacturing hub of Newcastle, factory owners say they are facing serious labour shortages, with some losing as much as 19% of their workforce. Employers say many of the departing workers had valuable sewing skills that […]
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The Democratic Republic of Congo has banned the export of copper and cobalt concentrates, marking a major escalation in its push to force domestic processing. A government report, seen by news agency, Reuters, said this was part of the country’s bid to retain more revenue from its vast mineral wealth. The order will also see […]
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