NIGERIA: AfCFTA Calls for The Establishment of African Business Council

The African Business Associations on Implementing the African Continental Free Trade Area (AfCFTA) called for the establishment of an African Business Council. This request was made at the Policy Dialogue of AfCFTA which was organized by the African Union (AU), African Development Bank Group (AfDB) and the Coalition for Dialogue on Africa (CoDA). The Executive… Continue reading NIGERIA: AfCFTA Calls for The Establishment of African Business Council

KENYA: Firms Invest at least Sh113.3 billion ($1.1 billion) in East Africa

Kenyan firms have invested at least Sh113.3 billion ($1.1 billion) in East African countries within the last four years. The investments were made despite concerns that failure to enforce regional double tax treaty will raise costs for firms. According to the report presented, the cash deployed by Kenyan companies spreading wings regionally was injected in… Continue reading KENYA: Firms Invest at least Sh113.3 billion ($1.1 billion) in East Africa

NIGERIA: Group Analyses Border Closure As A difficult Period For Manufacturers

MAN Export Promotion Group (MANEG) stated that the sustained closure of Nigeria’s land borders may prove difficult for some operators in the local market in exporting their products to neighbouring markets and having their warehouses filled with unsold inventory. Representing the group in an interview, the Chairman, Mr Ede Dafinone said; “There are companies in… Continue reading NIGERIA: Group Analyses Border Closure As A difficult Period For Manufacturers

KENYA: Korean Firm Targets Infrastructure Deals With Nairobi Office

The Korea Overseas Infrastructure and Urban Development Corporation; KIND has assembled its construction promotion arm in Kenya to play a central role in infrastructure deals in Africa. Although Kenya’s infrastructure deals are currently dominated by China, KIND plans to use Kenya as a foundation to expand to the rest of Africa. The office which is… Continue reading KENYA: Korean Firm Targets Infrastructure Deals With Nairobi Office

NIGERIA: Presidency Commences Set-Up for AfCFTA

Following Nigeria’s long-awaited signatory to the African Continental Free Trade Area (AfCFTA) due to its prudence in ensuring that the deal will be in the safe interest of the nation, among other reservations, Africa’s giant has decided to implement ground rules to ensure the continued economic standing of the federation. The presidency has announced that… Continue reading NIGERIA: Presidency Commences Set-Up for AfCFTA

NIGERIA: Africa’s Foremost e-Commerce Giant-Jumia, Eyes NYSE Listing

Photo Credit: PIUS UTOMI EKPEI/AFP/Getty Images via Marketplace

Africa’s online marketplace; Jumia Technologies AG is set to break new frontiers. The foremost online retailer on Tuesday, March 12th filed an application for its Initial Public Offering (IPO), a move that will enable the e-Commerce giant to sell its shares on the New York Stock Exchange (NYSE). Jumia, headquartered in Lagos Nigeria, is operational… Continue reading NIGERIA: Africa’s Foremost e-Commerce Giant-Jumia, Eyes NYSE Listing

LIBERIA: IMF Reduces 2019 Growth Forecast As Inflation Rises

The high rise in inflation in the West African country definitely caught the attention of the International Monetary Fund (IMF) team which paid a visit to the country to convey preliminary findings. According to the Leader of the IMF team sent to the country, Mika Saito “Liberia’s economic situation is challenging, and strong policy action… Continue reading LIBERIA: IMF Reduces 2019 Growth Forecast As Inflation Rises

CAMEROON: Projects Slower Economy As WTO Suspends Her Membership

Photo Credit: WTO Photo Gallery

The World Trade Organization (WTO), a body concerned with regulating trades between nations globally, has recently given a suspension verdict to Cameroon. The suspension is as a result of the country’s refusal to pay her dues amounting to XAF180million; a sum that is estimated to be $310,068USD. According to gathered reports, Cameroon’s Trade minister, Luc… Continue reading CAMEROON: Projects Slower Economy As WTO Suspends Her Membership

NIGERIA: NSE Loses $233.12 Million In 6 Hours Following The Re-election Of The President

Following the announcement of the results of the Nigerian Presidential elections with the results of the polls indicating incumbent President Muhammadu Buhari’s early leads in the polls, the Nigerian Stock Exchange on its trading floor has lost the sum of $233.12 million in six hours. The stock market downslide was attributed to profit taking as… Continue reading NIGERIA: NSE Loses $233.12 Million In 6 Hours Following The Re-election Of The President

World Bank Approves $50Million Agricultural Projects In Southern Africa

The World Bank’s board has on the 18th of December 2018 announced its approval of a $50 million project to increase the availability of agricultural technologies in Southern African countries such as Angola and Lesotho, this is in accordance with the bank’s effort to improve the agriculture productivity in the region. This project is set… Continue reading World Bank Approves $50Million Agricultural Projects In Southern Africa