While the Organization of the Petroleum Exporting Countries (OPEC) recently decided to lower its crude oil production levels, the move means ... that Nigeria has plummeted in the ranking of the continent's main producers. Angola loses its short-lived leadership status.
The decline of Denel would compromise South Africa’s strategic independence, says chief restructuring officer (CRO) Riaz Saloojee, making the ... timely disbursal of the R3.4bn ($196m) lifeline thrown to the entity critical.
Purple, the Nigerian real-estate company currently carrying out a stock market initial public offer (IPO), is close to securing backing from ... financial guarantee provider InfraCredit for the debt part of its fundraising, Purple CEO Laide Agboola tells The Africa Report.
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The Ogun government recently announced that Gasoline Integrated International (GII) had acquired 800 hectares of land for its planned oil refinery ... in the state. This adds to the growing list of refineries springing up to end Nigeria's decades-long paradoxical situation: being a major producer of crude oil as well as a key importer of refined petroleum products.
The timetable for a final investment decision (FID) by UTM Offshore on Nigeria’s first floating liquefied natural gas (FLNG) project has slipped ... again to the fourth quarter of 2023, CEO Julius Rone tells the Africa Report.
The Kenya Revenue Authority (KRA) may find itself in a deep dilemma over the implementation of the global minimum tax rate on multinationals ... after its Commissioner General Githii Mburu joined the Organisation for Economic Cooperation and Development (OECD).
Walmart-controlled Massmart, a beneficiary of South Africa’s boom years, will on 22 November 2022 delist from the JSE, signalling failure to ... capitalise on its retail head start, say analysts. Massmart owns 403 retail and wholesale stores in 13 Sub-Saharan countries. The group’s brands include Game, Makro, Builders, and Jumbo.