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Category: Business

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Ghana’s Sovereign Wealth Fund Targets Stake in Canadian Miner
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Côte d’Ivoire Secures $137M as Rising Borrowing Costs Test Regional Markets
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Gabon’s $290M Eurobond Buyback Sparks Debate Over Debt Strategy
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Nigeria’s Cocoa Harvest Set to Rise 7% in 2024-25 Season
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Ruto Cancels Adani Group Deals Following US Fraud Indictment
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South Africa Cuts Interest Rate to 7.75% Amid Improving Economic Conditions
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COCOBOD Rejects Claims Linking Ghanaian Cocoa to Contamination
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Nigeria’s Lawmakers Mandate N500 Billion Recapitalisation for Power Firms
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Angola’s Economic Forecasts Draw Praise and Scrutiny
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Ghana Commissions $1.2 Billion Power Plant to Boost Energy Stability
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BoG Intensifies FX Liquidity Measures Amid Year-End Dollar Demand Pressures
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Ghana’s NDC Boycotts Emergency Parliament Sessions, Risking Mining Deals
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Ghana Considers Cutting State Stake in Oil Exploration to Attract Investment
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Kenya's unclaimed financial assets swell to $580m
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Kuwait Poised to Lead Gulf Region in Current Account Surplus
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Nigeria’s Inflation Rises to 33.88%, Fueling Cost-of-Living Crisis
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Ghana’s Jospong Group Secures $400 Million from Afreximbank for Waste and Rice Projects
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Ghana’s Treasury Bill Issuance Faces Legal Hurdle Amid Parliamentary Standoff
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Nigeria to Raise $2.2 Billion in Bonds to Fund 2025 Budget
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Afreximbank Raises $530 Million with Debut Samurai Bonds
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IMF Approves $32 Million in Funding for Burkina Faso Amid Economic Challenges
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Nigeria Surpasses 1.8 Million bpd Oil Output, Exceeding OPEC Quota
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Angola’s $1.3 Billion Credit Boost for Essential Goods Spurs Call for Agro-Industrial Investments
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Senegal to Renegotiate 27 Mining Contracts Amid Investor Concerns
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Zambia Hikes Policy Rate to 14% as Inflation Remains High
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Tanzania Eyes $9 Billion in Private Investment for Mega Projects Through PPPs
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Dangote Refinery, Nigerian Petrol Marketers, Strike Accord on Distribution
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Mali Detains Executives from Australia’s Resolute Mining Amid Rising Tensions with Western Miners
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Dubai’s DIFC Completes $700 Million Sukuk Repayment on Schedule
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Kenya’s Forex Reserves Surge to Record $9.32 Billion Following IMF Boost
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Gabon Issues Oil Permits to Boost Declining Production
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Nigeria Orders Urgent Overhaul of Power Sector to Halt Grid Collapses
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Safaricom Boosts Ethiopia Investment by Ksh7 Billion to Offset Currency Losses
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ARISE IIP and Afreximbank Lead $5 Billion Push for Africa’s Cotton Industry Revival
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Angola to Grant Nine New Oil Concessions in Push to Boost Production
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Senegalese President Bassirou Diomaye Faye. © dpa picture alliance / Alamy Stock Photo
Senegal and Turkey Set Ambitious $1 Billion Trade Goal in Landmark Deal
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Ghana’s Half-Year Petroleum Revenue Surges to Record High
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Senegal to Renegotiate Canceled $750M Deal with Saudi Power Giant
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Nigeria Launches High-Yield Savings Bonds Amid Inflation and Rising Interest Rates
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MTN Nigeria Launches New Commercial Paper Notes to Raise $30 Million
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Ghana’s Cocoa Farmers Demand Subsidised Agrochemical Supplies
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J.P. Morgan Invests $300M in Senegal's Oil-Driven Economic Transformation
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Angola's Mid-Year Financial Report Reveals Surplus Amid Inflation Surge and Declining Oil Production
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Ethiopia’s Central Bank Launches Interbank Money Market to Boost Financial Stability
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Nigeria Launches Nine-Month Dollar Disclosure Scheme to Boost Economy
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Asante Gold Unveils $525 Million Financing to Boost Production at Ghana Mines
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Senegal Poised for 9.3% Growth in 2025 Amid Economic Resilience and Oil Boost
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Nigeria’s Fuel War Looms: Dangote Urges NNPC, Marketers to Halt Imports
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Janngo Capital’s Venture Fund Surpasses Target with $78 Million Raised to Support Women-Led Businesses in Africa
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Orange and Mastercard Partner to Boost Digital Payments Across Africa
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South Africa Faces Exodus of Major Companies Amid Business Challenges
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South Africa’s Government of National Unity Sets Economic Revival Goals in Medium-Term Budget
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Nigerian Fintech Moniepoint Raises $110 Million, Nears Unicorn Status
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Kenya Faces Potential Power Rationing Amid Rising Demand and Limited Supply
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Africa Finance Corporation Partners with Saudi Exim Bank to Boost Trade and Investment in Africa
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Nigeria’s Forex Reserves Rise by $3 Billion Amid Policy Shift and Increased Inflows
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IFC and CBN Sign Agreement to Boost Local Currency Financing for Nigerian Businesses
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Kenya’s HF Group Seeks KSh6 Billion Through Rights Issue to Boost Capital
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Starlink Reverses Price Hikes in Nigeria Amid Regulatory Pushback
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Angola’s Q3 Crude Exports Rise, China Remains Key Market
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Cameroon Projects Annual Inflation to Drop Below 4%
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Zambia Eyes Additional IMF Funding to Tackle Climate Resilience
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Atlantic Lithium Secures $6.7M for Ghana’s First Lithium Mine
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Ghana Halts Power Sector Restructuring Amid Strong Opposition
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Cameroon Aims to Broaden Tax Base, Sets 2025 Budget Priorities
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African Eurobond Selloff Extends for Third Day Amid Rising US Treasury Yields
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Saudi Arabia’s FDI Inflows Surge in 2023, But 2024 Targets Face Challenges
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Nairobi's Suburb Housing Prices Defy Economic Challenges
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Endeavour Mining Launches Production at Côte d'Ivoire’s Lafigué Mine
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UAE Showcases Food Manufacturing Achievements at SIAL Paris 2024
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Zambia's Private Sector Alarmed by IMF’s GDP Downgrade to 1.2% for 2024
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Seplat Energy Gains by Daily Limit as Nigeria Approves ExxonMobil Asset Divestment
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Nigeria Seeks Investor Interest in Assets Ahead of Potential Bond Issuance
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South Africa Eyes Nuclear Power Amid Ongoing Energy Security Challenges
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Okomu Oil Palm Plc Sees 68% Profit Drop After Militant Attacks on Facilities
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Kenya to Begin Deregistering Firms Hiding Beneficial Owners
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Gasoline Shipments to Nigeria Plunge Amid Local Refining Surge
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Middle Eastern Sustainability Bond Issuance Reaches $16.7 Billion in First Nine Months of 2024
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Ethiopia’s National Bank Introduces Changes to Foreign Exchange Policy
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Oman’s Trade Surplus Reaches RO 4.3 Billion by July 2024, Boosted by Hydrocarbon Exports
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Dynacor to Invest in Artisanal Gold Mining in Senegal
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Crude Oil Production Soars 83.6% in Côte d'Ivoire Amid Major Oil Discovery
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IMF Raises Concerns Over Kenya’s $1.5 Billion Loan from UAE
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Angola Announces New Foreign Currency Debt Issuance
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Burkina Faso Adjusts 2024 Budget Amid Revenue Shortfalls and Spending Cuts
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Kenya Plans New Switch Bonds and Debt Buybacks to Ease Budget Pressure
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Angola’s Debt to China Declines as Trade Relations Strengthen
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Ghana’s Cocoa Sector Suffers as Smuggling Hits 120,000 Metric Tons
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Adani Group Seeks Tariff Hike After Securing $736 Million Deal with KETRACO
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Nigeria’s Inflation Surges to 32.7% in September on Rising Fuel Costs
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Saudi Arabia’s PIF Allocates $19.4 Billion to Green Projects Amid Sustainability Push
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Nigerian Telecoms Protest Starlink Price Hike Amid Market Tensions
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Ghana Resumes Eurobond Debt Servicing After Restructuring, Disburses $520 Million
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Nigeria Aims for 40,000 bpd Crude Oil Production Boost with New FPSO
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Burkina Faso’s Bond Issue Falls Short Amid Security Concerns and Investor Reluctance
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Gabon’s Oil Production Drops 11 Percent in Second Quarter
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Nigeria Opens Direct Petrol Purchases from Dangote Refinery
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Oman’s Revenues Rise as Oil Income Boosts Fiscal Performance
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Ghana's Pensioner Eurobond Holders Call for Exemption from Debt Restructuring
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Global Rail 2024 Concludes with Ten Strategic Agreements to Boost UAE Rail Network
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Angola’s Central Bank Injects $170 Million into Market to Stabilise Currency
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Kenya Seeks Early Access to Final IMF Loan Tranche
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Sharjah’s $750 Million Sukuk Draws Strong Investor Demand
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Kenya’s Central Bank Boosts Forex Reserves Through Dollar Purchases Amid Strong Inflows
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Nigeria’s 2024-2025 Cocoa Harvest Opens Amid Low Demand and High Interest Rates
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Moody’s Downgrades Senegal’s Credit Rating Amid Hidden Debt Scandal
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Zambia Seeks Global Mining Giants to Achieve 3 Million Tonnes of Copper Production by 2031
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Burkina Faso plans to withdraw mining permits
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UAE Approves Record Dh71.5 Billion Federal Budget for 2025
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Edo Refinery in Nigeria to Complete Major Expansion, Expects First Cargo by May 2025
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Kenya’s Central Bank Makes Largest Rate Cut in Four Years
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Nigeria Opens 2-Year and 3-Year Bonds at 17.08%, 18.08% Coupons
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Saudi Arabia’s PIF Acquires 40% Stake in Selfridges Group Through Partnership with Thailand’s Central Group
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Pan-African Bank UBA Sees Double-Digit Growth Amid Economic Challenges
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Ecobank Launches $400 Million Senior Unsecured Notes at 10.125% Yield
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Kenya’s Mortgage Financier Eyes 2026 for Bond Issuance Amid High Interest Rates
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Kenya's Auditor-General Reveals Misuse of Development Loans
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Africa Gains Infrastructure Momentum as Global Resource Rivalry Heats Up
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West African Countries to Raise $2 Billion in Q4 2024
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AFC Returns to Global Debt Market with Oversubscribed $500m Eurobond
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Zambia Restructures 88% of External Debt Under G20 Framework
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Cameroon’s Oil Production on Declining Trend
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IMF Reaches Staff-Level Agreement for Ghana's Third Programme Review
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Saudi Aramco Completes $3 Billion Sukuk Offering Amid Strong Investor Demand
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Cameroon Contracts ARISE IIP for New Industrial Port Zone in Douala
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Nigeria Ends VAT on Natural Gas and Diesel to Boost Clean Energy Investments
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Kenya’s Listed Firms See Stock Surge as Investors Eye Corporate Deals
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Ghana’s Eurobond Restructuring Achieves Over 90% Participation, Official Confirms
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ANPG to Grant 15 New Oil Licenses in Angola by Year-End
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Nigeria to Approve ExxonMobil Divestment “in Days,” President Tinubu Says
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Ghana's Inflation Rate Rises to 21.5% in September, Ending Five-Month Decline
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Saudi Arabia's 2025 Pre-Budget Statement Projects $5.07 Billion Expenditure
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ExxonMobil Transfers Equatorial Guinea Assets to GEPetrol, Ending Decades of Operations
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Oman Opens New Oil and Gas Concession Area Amid Push for Energy Expansion
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Nigeria Secures $1.57bn World Bank Loans for Social Services, Climate Change
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ADQ’s Second $2 Billion Bond Issue Over-Subscribed by 4.1 Times
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Saudi Arabia's FDI Stagnation Raises Concerns Over Vision 2030 Funding
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Zambia Sets K217 Billion ($8.4 Billion) 2025 Budget with 6.6% Growth Target
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Saudi Arabia Moves Ahead with 4,500 MW Renewable Energy Projects in Sixth Round
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CBK Returns to Market with Ksh30 Billion Bond Auction Amid Investor Caution
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Nigeria’s One-Year OMO 32% Yield May Dampen Real-Sector Activities
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BEAC Projects Inflation to Ease to 3% by 2025 After Hitting Three-Year High
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Nigerian Commercial Paper Rates Poised to Surge Following Central Bank Hike
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Côte d'Ivoire Raises $250 Million in Successful WAMU Public Debt Operation
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Angola Begins Privatisation of 30% Stake in Largest Insurer ENSA
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Bank of Ghana Cuts Policy Rate by 200 Basis Points to 27%
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Oman Shortlists 12 Firms for $1.3 Billion Wind Power Project
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KETRACO Seeks 36% Revenue Slash in Adani Power Deal to Curb Electricity Costs
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Tanzania Secures $129 Million AfDB Loan to Modernise Agriculture
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Angola to Sell 4 Gigawatts
Angola to Sell 4 Gigawatts of Surplus Electricity to Boost Economy by 2027
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UAE’s EDGE Group Launches FADA to Propel Sovereign Space Capabilities
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Nigeria to Revive Two Stalled LNG
Nigeria to Revive Two Stalled LNG Projects as European Demand Grows
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Saudi Aramco to Issue Shariah-Compliant Sukuk to Support Strategic Initiatives
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World Bank Urges Zambia to Enhance Revenue Mobilisation and Fiscal Governance
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Angolan President to Host U.S. President Biden for Historic Visit
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Asante Gold Raises C$136 Million in Strategic Equity Financing
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Russia to Build Petroleum Pipeline in Republic of Congo
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Raxio Group Launches Côte d’Ivoire’s First Tier III Carrier-Neutral Data Centre
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Kenya’s High Court Strikes Down Privatisation Act 2023
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Nigeria’s Central Bank Hikes Benchmark Rate to 27.25% as Inflationary Pressures Persist
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Qatar’s Commercial Bank
Qatar’s Commercial Bank Issues Largest CHF-Denominated Green Bond in the CEEMEA Region
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Cameroon Suspends Mining Activities Involving Chinese Companies
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Stanbic Bank Kenya Enters Unit Trust Market with New Investment Funds
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Foreign Workers’ Remittances from Saudi Arabia
Foreign Workers’ Remittances from Saudi Arabia Rise 21% in July, Hit $3.44 Billion
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Ghana Begins Third IMF Review as Macroeconomic Reforms Progress
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Burkina Faso Takes Partial Control of Major Gold Mines Amidst Insecurity
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Fed's Rate Cut Expected to Boost African Markets
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Saudi Arabia's Fee Waiver for Foreign Workers Spurs Industrial Growth
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Saudi Arabia Leads G20 in Tourism Growth
Saudi Arabia Leads G20 in Tourism Growth with 73% Surge in Foreign Visitors
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Ethio Telecom Targets 83 Million Users with $1.41 Billion Investment in Expansion
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Ghana Seeks New Investors to Revive FGR Bogoso Prestea Mines
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Coca-Cola
Coca-Cola Pledges $1 Billion Investment in Nigeria Over Five Years
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Saudi Arabia Secures Major Fleet Decarbonisation
Saudi Arabia Secures Major Fleet Decarbonisation Deals at Riyadh EV Auto Show
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Heavy Rains Threaten Nigeria’s Cocoa
Heavy Rains Threaten Nigeria’s Cocoa Crop as Fungal Disease Looms
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Ethiopia Set to Launch First Stock Exchange
Ethiopia Set to Launch First Stock Exchange in Over 40 Years
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Kuwait Central Bank Lowers Discount Rate by 25 Basis Points Amid Easing Inflation
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Canyon Resources Secures 20-Year Mining
Canyon Resources Secures 20-Year Mining License for Cameroon’s Minim-Martap Bauxite Project
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Saudi Arabia’s Banking Sector Gains Momentum
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South Africa Poised for Interest Rate Cut as SARB Weighs Next Move
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Zambia’s Proposed Mining Policy Faces Criticism from Industry Stakeholders
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Ethiopia’s Power Sector Hits $6 Billion Milestone
Ethiopia’s Power Sector Hits $6 Billion Milestone as Reforms Boost Capital and Efficiency
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Nigeria’s $550 Million Ubeta Gas Project Kicks Off in Partnership with TotalEnergies
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Ghana’s Economy Expands
Ghana’s Economy Expands by 6.9% in Q2 2024, Driven by Strong Industrial Growth
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IMF Revises Senegal’s 2024 Growth
IMF Revises Senegal’s 2024 Growth Forecast to 6%, Cites Slower Non-Hydrocarbon Sector
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Ghana’s E.S.L.A. PLC Launches GH¢1.04 Billion Bond
Ghana’s E.S.L.A. PLC Launches GH¢1.04 Billion Bond Buyback to Restructure Energy Sector Debt
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Namibia to Ship First Consignment Under African Free Trade Agreement in October
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CBN to Sustain Renminbi Auctions Following China Trade Push
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Kuwait Petroleum Corp
Kuwait Petroleum Corp Expands Reach as Europe's Top Jet Fuel Supplier
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Zambia Seeks Growth Amid Challenges
Zambia Seeks Growth Amid Challenges with Economic Reforms and Investment
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NNPC Begins Lifting Petrol from Dangote Refinery Amid Pricing Controversy
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Nigeria Releases August Inflation Data
Nigeria Releases August Inflation Data
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Kenya Forecasts 16-Year Low Budget Deficit
Kenya Forecasts 16-Year Low Budget Deficit on Revenue Boost and Spending Cuts
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Ghana Expands Bauxite Reserves to Boost Production and Drive Aluminium Industry Growth
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Nigeria to List First Domestic Dollar Bonds on Over-the-Counter Markets
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Johnvents Industries Launches N30 Billion Commercial Paper Programme
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Saudi Arabia to Reduce Debt Issuance in 2024
Saudi Arabia to Reduce Debt Issuance in 2024 as Aramco Boosts Dividends
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China Commits $2.5 Billion Investment in Gabon’s Power Sector
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Saudi Arabia’s Future Investment Initiative to Focus on Innovative Solutions at Eighth Edition
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Saudi Arabia Plans $3.3 Billion Sports Complex with UK Tech Firm
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Angolan Debt and Stock Exchange Records Highest Monthly
Angolan Debt and Stock Exchange Records Highest Monthly Trading Volume of 2023
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