Business

Fri,20Oct2017

Business

Nigeria "cannot borrow anymore", says finance minister

In this photo taken on  June. 20, 2016, a trader counts US Dollars inside a shop in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPANigeria must not borrow more to fund its budget and should instead raise money it needs by other means, the country's finance minister said on Tuesday, calling into question planned foreign loans of $2 billion from lenders like the World Bank.

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IMF says Morocco ready for currency reform, but delay 'not a problem'

The now Prime Minister of Morocco, Saad Eddine El Othmani, addresses the media in Berlin, Germany, Nov. 23, 2012. Photo: Michael Sohn/AP/SIPAMorocco's macroeconomic indicators indicate the country is ready to introduce a flexible exchange rate, but delaying the introduction is "not a problem", the International Monetary Fund said on Monday.

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Press Release: AITEO invests in Nigerian Soccer

EKO CONVENTION CENTRE, Logos

LAGOS. 26/04/2017 AITEO GROUP INVESTS N2.5B IN THE DEVELOPMENT OF NIGERIAN SOCCER.

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South African parliament joins legal bid to quash call to change central bank's mandate

Speaker Baleka Mbete is in support of the South African Reserve Bank's legal bid to quash the recommendation. Photo: Nic Bothma/AP/SIPAThe South African parliament has filed papers in court challenging the anti-graft watchdog's proposal that the central bank be forced to change its economic mandate, it said.

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Kenya to add value to gems and precious metals

A miner carrying rocks containing Tsavorite as mine owner Campbell Richard, left, looks on, Kenya, April 6, 2006. Photo:RODRIQUE NGOWI/AP/SIPAKenyan traders in gems and precious metals will begin exporting finished products after the government said it has put up a value addition center in the south of the country.

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China, France eye Gambian port upgrade to rival Dakar

 A ferry bringing back people  arrives at the port in Banjul, Gambia, Jan. 21, 2017. Photo: Jerome Delay/AP/SIPAChinese and French companies are bidding to help Gambia build up its Atlantic port Banjul to be what industry sources say could be a rival to neighbouring Senegal's Dakar.

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African visitors driving growth in tourism sectors on the continent, UNCTAD

In this photo taken Aug. 24, 2014, people look out to the ocean as the sun sets over the promenade in Cape Town, South Africa.Photo: Schalk van Zuydam/AP/SIPATourism is fueling economic growth in many African countries and Africans themselves are increasingly the ones driving the demand, a United Nations Conference on Trade and Development (UNCTAD) report said.

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