The creation of a new infrastructure fund was one of several initiatives President Bola Tinubu of Nigeria announced on Friday to help the economy and
Category: Africa
China to invest $36b in Algeria across manufacturing, new tech, knowledge economy, agriculture, and transport.
Abdelmadjid Tebboune, the president of Algeria, was quoted on Thursday by Ennahar Online as saying that China would spend $36 billion in Algeria across a
Nigeria’s Access Bank to buy five sub-Saharan Africa businesses from StanChart.
As part of a plan to divest such companies, Standard Chartered stated on Friday that it has struck a deal to sell its subsidiaries in
Egypt to sell state assets worth $1.9b as part of economic reforms under a $3b IMF loan program.
As part of a drive to strengthen the private sector and raise scarce hard currency, Egypt has inked contracts to sell stakes in state assets
Egypt’s annual inflation hits a record high of 36.8% with the collapse of the currency throwing 30% of the population into poverty.
As the most populous Arab nation struggles with price increases and a weakening currency, Egypt’s annual inflation rate reached a record high in June, according
Nigeria to save $5.1b this year from reforms, as over four million people are driven into poverty.
Following changes to its foreign exchange market and the elimination of a gasoline subsidy, Nigeria might save up to 3.9 trillion naira ($5.10 billion) this
Forex scarcity: Nestle brings production and sourcing of raw materials in Africa closer to consumer markets.
In order to lessen the sector’s problematic exposure to foreign exchange, food giant Nestle’s operations in Nigeria and other African nations are increasing their sourcing
Zambia’s Mopani Copper Mines up for grabs, four firms submit non-binding offers.
The shortlist for the bid to purchase Zambia’s Mopani Copper Mines includes China’s Zijin Mining and Norinco Group, South Africa’s Sibanye Stillwater, and an investment
EXIM Bank of India to invest $3.5b in African projects in 2023.
The senior executive of India’s Export-Import Bank announced intentions to increase investments under a government-supported line of credit program to finance Indian enterprises wishing to
Nigeria’s inflation rises to 22.41% in May, with food and non-alcoholic beverages as the biggest drivers.
Nigeria’s Bureau of Statistics said on Thursday that annual inflation increased to 22.41% in May from 22.22% the previous month. According to the statistics, non-alcoholic
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