Trading firms that rely on cocoa derivatives could lose at least $1 billion and traders were forced to unwind short bets in a surging market
Category: Africa
African financial sector faces collapse from biodiversity loss.
Several lenders in the region may fail if natural disasters reduce the earnings of the forestry and agricultural companies they have lent to, according to
Nigeria’s inflation hit a record 28-year high heralding the worst cost of living crisis in June.
June saw Nigeria’s inflation rate reach a record 28-year high of 34.19% in annual terms, according to official figures released on Monday. However, several analysts
Nigeria directs IOCs to sell crude to Dangote, domestic refiners at open market prices.
A supply conflict that had damaged ties with foreign oil corporations has been resolved by an agreement reached by Nigeria’s oil regulator with producers to
Nigeria’s gasoline debt reaches $6 billion, subsidy to gulp $3.7b in 2024.
As the state oil company NNPC tries to bridge the difference between set pump prices and foreign fuel costs, Nigeria’s debt to gasoline suppliers has
Coup-hit Niger’s bid to export oil with China-funded pipeline hit with crisis.
The revolution that overthrew the democratic government of Niger last year has resulted in an internal security crisis and a diplomatic spat with neighboring Benin,
Nigeria’s cost of living crisis is at its worst as inflation hits a new 28-year record.
Official figures released on Saturday indicated that Nigeria’s annual inflation reached a record 28-year high of 33.95% in May, exacerbating the hardships that have stoked
African countries in crisis as $74b will be used for debt servicing in 2024. – AfDB Chief.
The chairman of the continent’s development bank stated that for Africa to avoid a lost decade, the continent needs faster debt restructurings, more advantageous loan
Nigeria’s NNPC receives $925m from the $3.3b Afreximbank crude-oil-backed facility
As part of a syndicated $3.3 billion crude oil-backed prepayment facility, Afreximbank has released $925 million to Nigeria’s state-owned NNPC, the African trade bank announced
Nigeria’s fragile economy grinds to a halt as unions protest the worst cost of living crisis in 28 years.
The top labor unions in Nigeria went on strike on Monday, demanding a pay hike amid the greatest cost of living crisis in decades. Major
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