Economy

Nigeria Gets Positive Economic Outlook From Moody’s as Growth and Reserves Improve 0

Business, Economy
05:45 AM, Aug 30

ABUJA, Nigeria — Nigeria has received a more positive assessment from international credit rating agency Moody’s. The agency changed Nigeria’s economic outlook from stable to positive, while maintaining the country’s sovereign rating at B3. Moody’s said Nigeria’s stronger foreign exchange reserves and better-than-expected economic growth had improved the country’s ability to withstand external shocks. Higher […]

South Africa Secures $405m Loan for Infrastructure Projects 0

Economy
04:21 AM, Aug 29

South Africa has signed two loan agreements worth a combined $405 million with the New Development Bank to support major infrastructure projects. The financing is expected to support projects including infrastructure development in Limpopo, with investment targeted at areas such as healthcare and water infrastructure. The funding comes as South Africa continues to look for […]

Kenyan Traders Shut Businesses as Police Disperse Tax Protesters in Nairobi 0

Crisis, Economy
06:20 PM, Aug 28

Business activity was disrupted in parts of Nairobi on Friday as small-scale traders protested against increased import duties and changes to customs valuation. Hundreds of businesses reportedly closed as traders took their concerns to the streets. Police used tear gas to disperse protesters during demonstrations in the city centre. The traders say the new customs […]

Fuel Prices Keep Pressure on Nigerians as Government Pushes CNG Alternative 0

Economy, Politics
05:48 PM, Aug 28

The high cost of petrol remains one of the major economic concerns for Nigerians, with pump prices varying significantly across different parts of the country. Current market reports show petrol selling within a wide range, with some locations recording prices around or above ₦1,300 per litre. The pressure on fuel prices has continued to affect […]

Tinubu Approves 500 More CNG Stations 0

Economy, Politics
05:44 PM, Aug 28

President Bola Tinubu has approved the rollout of 500 additional Compressed Natural Gas (CNG) refuelling stations across Nigeria as the Federal Government intensifies efforts to reduce transportation costs. The new stations will increase the planned national network to about 1,000 CNG stations under the government’s CNG programme. The move is part of the administration’s broader […]

Kenya: Meta Introduces New WhatsApp Business Messaging Charges for Companies 0

Business, Economy
05:05 AM, Aug 28

Businesses in Kenya are preparing for additional costs after Meta announced plans to charge companies for certain WhatsApp Business messages. The new charges are expected to apply from October 1, with businesses paying according to messages delivered to customers. The change will affect companies that rely heavily on WhatsApp to communicate with customers, respond to […]

US Targets Stronger Nigeria Partnership in Technology, Trade and Creative Economy 0

Economy
04:33 AM, Aug 28

The United States has expressed interest in expanding its economic relationship with Nigeria, with technology, trade, investment and the creative industry identified as important areas for deeper cooperation. The renewed focus comes as Nigeria continues to position its technology and creative sectors as major drivers of economic growth. Nigeria’s music, film and digital technology industries […]

Nigeria Secures $1.4 Billion Funding to Expand Electricity Transmission Network 0

Economy
04:29 AM, Aug 28

Nigeria’s electricity transmission infrastructure is set for major investment after the Transmission Company of Nigeria secured more than $1.4 billion in loans and grants to support expansion of the national grid. The funding is expected to help increase transmission capacity, improve reliability and address some of the infrastructure limitations affecting electricity supply. Recent improvements have […]

Fuel Price Hike: Labour, Civil Society Groups Demand Action Over Rising Petrol Costs in Nigeria 0

Business, Economy
04:26 AM, Aug 28

Fresh concerns over petrol prices have triggered criticism from organised labour and civil society organisations, with groups accusing the government and operators in the petroleum sector of putting additional pressure on Nigerian households. The latest increase comes at a time when many Nigerians are already dealing with higher transportation, food and household expenses. Labour representatives […]

Djibouti Set to Host First National AI Forum as Africa Pushes Digital Transformation 0

Business, Economy
05:22 PM, Aug 27

Djibouti is preparing to host its first national forum dedicated to artificial intelligence, reflecting the growing interest in AI and digital technology across Africa. The forum is expected to bring together stakeholders to discuss the opportunities and challenges surrounding artificial intelligence and its potential contribution to national development. For African countries, AI is increasingly being […]

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