NewsWest Africa

Thu,23Nov2017

West Africa

Nigeria's biggest airline Arik Air goes into receivership

Nigeria's Arik Air is in receivership due to its inability to pay workers and creditors, prompting the government to take control of the country's biggest airline, state-owned "bad bank" AMCON said on Thursday.

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Recession-hit Nigeria targets economy to grow at annual 7 percent by 2020

Nigeria is targeting economic growth of at least 7% a year by 2020, the Ministry of Budget and National Planning said on Tuesday, a far cry from its current recession, the first in 25 years.

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Ghana government says inherits budget deficit "closer to double digits"

Ghana's new government has inherited a budget deficit "closer to double digits" as a percentage of GDP than the 5% targeted for 2016 by the previous government, Finance Minister Ken Ofori-Atta told Reuters on Wednesday.

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Côte d’Ivoire unrest makes cocoa grinders rethink investments

Cocoa grinders in Côte d’Ivoire are holding off on new investments after military and social unrest this month, potentially denting government plans to boost processing of the commodity in the world's top grower.

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Ghana's only oil refinery shut after explosion

Ghana's only oil refinery, the Tema Oil Refinery, is shut after an explosion at a newly installed 5.8-million-euro crude oil heating unit, a senior union official said on Friday.

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Home-grown African wealth funds seeking foreign partners to fix infrastructure gap

People buy fuel at a petrol station in Lagos,Nigeria. Photo: Sunday Alamba/AP/SIPAAfrica, famously short of new roads, ports and power stations, is increasingly leaning on its own sovereign investment funds to help fix its infrastructure gap.

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