Economy

Rwanda Secures $190m World Bank-Backed Loan in First Yen Borrowing 0

Economy
05:12 PM, Aug 27

Rwanda has secured approximately $190 million through a 15-year loan backed by the World Bank, marking the country’s first government borrowing denominated in Japanese yen. The financing is expected to support Rwanda’s budget and development priorities, including infrastructure, healthcare, education and agriculture. The move also represents an effort by Rwanda to diversify its sources and […]

Nigeria, Thailand Expand Partnership in Agriculture, Technology and Renewable Energy 0

Economy
05:06 PM, Aug 27

Nigeria and Thailand are working to strengthen economic cooperation in areas including agriculture, technology, commerce and renewable energy. Discussions between the two countries have focused on opportunities to expand trade and investment while encouraging businesses from both sides to explore new partnerships. Agriculture is expected to remain an important area of cooperation, particularly as Nigeria […]

Nigeria Unveils Fresh Oil Tax Incentives as Government Targets New Investment 0

Business, Economy
05:03 PM, Aug 27

Nigeria is stepping up efforts to attract fresh investment into its oil industry through new tax incentives aimed at making deep offshore projects more attractive to investors. The move comes as the government seeks to revive major oil developments that have faced delays and encourage international companies to commit more capital to Nigeria’s petroleum sector. […]

IMF Says Nigeria’s Economic Reforms Are Showing Results but Hardship Remains 0

Breaking, Business, Economy
04:35 AM, Aug 27

Nigeria’s economic reforms have helped improve some major economic indicators, but millions of Nigerians continue to face difficult living conditions. The International Monetary Fund has acknowledged progress from reforms introduced over the past three years, including changes to fuel subsidies and the foreign-exchange system. However, the IMF has also warned that the benefits of economic […]

Tinubu Tasks NLNG With Turning Nigeria’s Gas Wealth Into Greater Economic Benefits 0

Economy
04:32 AM, Aug 27

President Bola Ahmed Tinubu has challenged the Nigeria LNG Limited to do more to ensure Nigerians benefit directly from the country’s huge natural gas resources. Tinubu made the call during a meeting with the NLNG board, where he stressed the need to reduce gas flaring and increase the economic value Nigeria receives from its gas […]

South Africa’s Economic Outlook Under Pressure as Key Indicator Falls for Third Month 0

Breaking, Economy
06:14 AM, Aug 26

South Africa’s economic outlook has come under fresh pressure after the country’s leading business-cycle indicator declined for the third consecutive month. The South African Reserve Bank’s indicator fell by 1.4% in June, pointing to weaker economic conditions ahead. Analysts have linked the decline to factors including weaker commodity prices and pressure on domestic economic activity. […]

Ramaphosa Says South Africa’s Operation Prosper Is Making Progress Against Illegal Mining 0

Breaking, Economy
06:01 AM, Aug 26

South African President Cyril Ramaphosa says a joint security operation targeting illegal mining and organised criminal activity is beginning to produce measurable results. The operation, known as Operation Prosper, involves the police and military working together in areas affected by illegal mining. According to Ramaphosa, the operation has led to arrests and the recovery of […]

Burkina Faso Strengthens Russia Partnership as Traoré Seeks New Investment and Energy Deals 0

Economy, Politics
09:12 PM, Aug 25

OUAGADOUGOU — Burkina Faso is moving closer to Russia as the West African country seeks new partnerships in energy, technology, investment and trade. The relationship between the two countries has increasingly moved beyond political and security cooperation, with both sides exploring wider economic opportunities. A Russia-Burkina Faso intergovernmental commission on economic, scientific and technical cooperation […]

Petrol Imports Rise as Domestic Refinery Supply Falls 0

Economy
10:23 AM, Aug 25

Nigeria’s petrol market is seeing a fresh shift as imported fuel increased in July while supplies from domestic refineries declined. New industry figures show that domestic petrol supply dropped by 21 per cent, from 32.5 million litres per day in June to 25.8 million litres per day in July. At the same time, petrol imports […]

Ghana’s Cedi Faces Fresh Pressure as Demand for US Dollars Rises 0

Breaking, Business, Economy
06:06 AM, Aug 25

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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