Tag: Africa

Opinion

Edun urges Africa to halt $88bn annual illicit financial flows

The Federal Government has called for urgent action to tackle Illicit Financial Flows across Africa, which drain the continent of $88 billion annually. Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, made the call while speaking at the opening of the 5th Sub-Committee on Tax and IFFs of the African Union’s […]

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Nigeria missing as Namibia tops Africa’s 2026 quality of life ranking

In the 2026 Numbeo Quality of Life Index, Namibia has emerged as the top-ranked African country for overall livability, while Nigeria is notably absent from the list of the continent’s best performers. As Africa continues to evolve, quality of life assessments now go far beyond income, incorporating critical factors such as safety, healthcare, climate comfort, […]

Aviation

IATA forecasts boom in African air passenger demand

The International Air Transport Association released its Long Term Demand Projections for air travel, showing that global air passenger demand is expected to more than double by 2050 and intra-Africa air travel would lead global growth through the period. The pace of growth will be uneven across regions, reflecting differences in demographics, market maturity, economic […]

Opinion

CBN gov urges stronger African cooperation on cross-border risks

The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has urged African financial regulators to strengthen cooperation in managing cross-border risks. Cardoso also restated the CBN’s commitment to entrenching robust corporate governance in Nigeria’s financial system. He spoke at the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and […]

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Nigeria, Africa will pay heavy price if Iran war continues – Dangote

Foremost industrialist, Alhaji Aliko Dangote, has warned that Middle-East tensions driving global oil volatility could have far-reaching consequences for Nigeria and African economies. Dangote spoke on Monday in Lagos after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu. He said the visit was to extend Sallah greetings, reconnect with the president after some […]

Oil and Gas

Dangote Refinery exports 456,000 tonnes of fuel to Africa

The Dangote Petroleum Refinery has ramped up its regional footprint with the export of 12 cargoes of refined petroleum products totalling 456,000 tonnes to five African countries. This occurs amid a growing fuel supply crisis triggered by geopolitical tensions in the Middle East. The cargoes, sold through international traders on a Free on Board basis, […]

featured Oil and Gas

US-Israel-Iran war leaves Africa with weeks of fuel reserves — Report

The escalating conflict in the Middle East, particularly the war involving Iran, has severely disrupted global energy shipments through the Strait of Hormuz, placing Africa’s fuel supply chain under intense pressure. Many African countries are now operating with only weeks of refined petroleum products in reserve as traditional import routes face major constraints. The International […]

Business

Access Bank boss urges deeper collaboration to boost intra-African trade

The Group Managing Director of Access Bank Plc, Mr. Roosevelt Ogbonna, has urged African policymakers, financiers and businesses to strengthen collaboration. He said this is essential to speed up intra-African trade and unlock the continent’s full economic potential. Ogbonna made the call yesterday while welcoming participants to the Africa Trade Conference 2026 in Cape Town, […]

featured Life Style

Dangote retains Africa’s richest spot with $28.5bn fortune

Nigeria’s business magnate Aliko Dangote has once again secured his position as Africa’s wealthiest individual. He tops the Forbes 2026 Africa Billionaires ranking with an estimated net worth of $28.5 billion. Over the past year, the continent’s richest figures collectively gained more than $20 billion. The latest Forbes list, released on Monday, highlights Africa’s 23-member […]

Telecommunications

MTN Zambia completes Africa’s first Starlink direct-to-cell satellite test

MTN Zambia has completed Africa’s first field test of Starlink’s Direct-to-Cell technology. The trial successfully sent both a data session and a mobile money transaction through satellites. This achievement could significantly extend network coverage to remote parts of the country. The telecom operator stated that the trial used MTN’s spectrum alongside Starlink’s satellite constellation. This […]

Alibaba to raise HK$12bn in exchangeable bonds
Business featured

Alibaba offers $1.5m grants to African entrepreneurs

Alibaba Philanthropy and the Jack Ma Foundation have announced $1.5 million in grants for African entrepreneurs creating innovative solutions to the continent’s major challenges. This forms part of the launch of the 8th edition of Africa’s Business Heroes. The 2026 edition carries the theme ‘Defining Africa’s Future Today’. It targets entrepreneurs working in climate-smart agriculture, […]

Economy featured

Nigeria tops Africa stock markets with 34.4% dollar gains

Nigeria is officially the best-performing stock market in Africa right now, riding on the back of a strong naira, foreign investor appetite, and a bull market run to become the continent’s top performer in 2026. BusinessDay analysis of the data from African Markets, a real-time market intelligence platform, showed the benchmark index gained 34.4 per […]