The Financial Action Task Force (FATF), a global organization that monitors financial crime, announced on Friday that it has added South Africa and Nigeria to
Category: Africa
New French fund commits $100m to the development of solar energy in Africa.
French fund manager RGREEN INVEST and investment adviser ECHOSYS INVEST said on Friday that a new investment fund with 87.5 million euros ($92.63 million) will
Heavily indebted African countries charged extortionate interest rates. – U.N. Sec-Gen.
Having to pay “extortionate” interest rates, heavily indebted African nations are getting a raw deal from the global financial system, according to U.N. Secretary-General Antonio
Nigerian Banks with exposure of over $10b in trade finance are on the brink. – Moody’s.
Local Nigerian businesses may confront foreign cash shortages that could endanger bank liquidity and undermine bank capital, according to a note published on Thursday by
US Congress members accuse Nigeria of violating international laws and demand that the $1b arms sale be scrapped.
Following Reuters reporting on an illegal abortion program and the targeted killing of children by the Nigerian military, two members of the US House of
Nigeria’s new Naira creates a cash shortage and shuts down critical sectors of the economy.
According to experts and business associations, Nigeria’s efforts to replace its paper money with newly produced currency notes have resulted in a cash scarcity that
Nigeria’s public finances will continue to deteriorate. – Moody’s
After Moody’s downgraded Nigeria late on Friday from B3 to Caa1, warning that the government’s fiscal and debt position was expected to worsen, Nigeria’s government
Food crisis in Africa: Development partners pledge $30b over 5 years.
In his concluding remarks at a summit on food security on Friday, Akinwumi Adesina, President of the African Development Bank, announced that development partners have
Lekki Deep Seaport: Nigeria stakes its economic future on a port 75% owned by China.
President Muhammadu Buhari of Nigeria has celebrated the completion of a $1.5 billion deep seaport built by China in the commercial center of Lagos, which
Nigeria: Local and International flights were disrupted by the strike.
The ground personnel started an indefinite strike on Monday in order to seek increased wages, according to airlines in Nigeria. The largest airline in
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