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Tag: Africa

African economic growth slumps to 3.2% in 2023
Business

African economic growth slumps to 3.2% in 2023

Melvin Onwubuke Nigeria and other African nation’s economic growth fell to 3.2 per cent 2023 contrary to 4.1 per cent in 2022. According to Africa Development Bank, the political instability, and China’s economic slowdown were exacerbating the shocks of covid 19 and the war of Russia in Ukraine. In the statement, the bank said “The […]

2023 AFCON: CAF to hit $75m estimated revenue
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2023 AFCON: CAF to hit $75m estimated revenue

This edition of AFCON lived up to expectations, fulfilling CAF President Patrice Motsepe’s optimism expressed during the opening ceremony that it would be the best so far. At the Stade Alassane Ouattara Stadium in Abidjan last Sunday, mixed emotions filled the air as the Elephants of Cote d’Ivoire clinched the AFCON 2023 trophy with a […]

$20bn spent yearly by African countries on wheat import - TAAT
Business

$20bn spent yearly by African countries on wheat import – TAAT

The Head of the Technologies for African Agricultural Transformation Clearinghouse, Dr. Solomon Gizaw, has stated that Africa spends about $20 billion a year on wheat imports. According to The Times, he made this statement at a Train-the-Trainer course on wheat seed production in Kano. He claimed that supply delays and higher wheat prices in Africa have resulted […]

Dangote refinery urges NUPENG, PTD to resolve conflict
News

FG hails Dangote over efforts to diversify economy

The Federal Government has praised the Dangote Group for contributing to the government’s efforts to diversify the country’s economy, as well as the company’s commitment to promoting best practices across all of its enterprises. The PUNCH reported that he appreciated Dangote Group at the same time that the Ogun State Government announced that Dangote Cement, which […]

Egypt leads Africa in foreign direct investment
Business

Egypt leads Africa in foreign direct investment

Bisola David The United Nations Conference on Trade and Development World Investment Report 2023, has revealed that Egypt experienced a tremendous increase in FDI, more than double of the $11 billion in 2022, establishing it as Africa’s leading economy with the most foreign investments. Business Insider reported that this considerable growth can be ascribed to increased cross-border merger […]

Top ten best passports in Africa
Business

Top ten best passports in Africa

Alex Omenye Nigerian passport has emerged the 50th strongest passport in world with regard to its relevance, access to countries and strength globally. The Nigerian passport was placed 95th in the world in the most recent Henley Passport Index report of 2024, in addition to being “the 50th strongest passport in Africa.” As stated in […]

Amazon Prime video shifts focus, cuts funding in Africa, Middle East
Tech

Amazon Prime video shifts focus, cuts funding in Africa, Middle East

Amazon Prime Video is reorganizing its global operations to concentrate on original European content, reducing staff and funding in Africa and the Middle East. There will be layoffs in the local teams even if Prime Video will still function in those regions. In the meantime, Barry Furlong, vice president of Prime Video Europe, will oversee […]

Top ten oil producing countries in Africa
Oil and Gas

Top ten oil producing countries in Africa

It has been a turbulent year for Africa’s top oil producers, with global oil demand falling 11% in the first half of 2020 and OPEC+ eliminating 9.7 million barrels per day from the market in a historic agreement last April. African producers are now attempting to increase output to pre-COVID-19 levels as OPEC progressively reduces […]

Top 10 biggest airports in Africa
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Top 10 biggest airports in Africa

Africa is a vast and diverse continent with variations in infrastructure and economic growth. Africa’s air travel is centered on large hubs such as Johannesburg, South Africa, Nairobi, Kenya, Cairo, Egypt, and Addis Ababa, Ethiopia. These cities’ airports serve as vital connecting hubs for international and domestic flights. Air travel in Africa has grown rapidly […]

Nigeria leads Africa’s booming beauty market — Report
Business

Nigeria leads Africa’s booming beauty market — Report

Nigerians have always stood out when it comes to beauty and personal care. Little wonder the Nigerian market was reported to have imported more than $1.1 billion in cosmetics, fragrances, essential oils, and toiletries. This data comes from a comprehensive study by Beauty West Africa, the organizers of Africa’s largest beauty show event, which took place at the […]

Seedstars Africa raises $30m to fund African startups
News Tech

Seedstars Africa raises $30m to fund African startups

The European Investment Bank’s subsidiary, EIB Global, has committed $30 million in finance to Seedstars Africa Ventures. Following a $8 million investment, French private equity firm LBO France, the fund’s anchor investor, has made a fresh commitment. With a goal of raising between $80 million and $100 million, the fund will help seed and Series […]

Cameroonian city ranked most expensive in Africa
News

Cameroonian city ranked most expensive in Africa

Living in African cities can be a genuine financial burden these days, owing to the recent increase in inflation. Everything is getting more expensive, from housing to groceries. According to one of the world’s leading data and research platforms, Numbeo, food and utilities, for example, have seen price increases. Numbeo reports that Douala, Cameroon is […]

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