Business

Nigeria’s President Buhari stands next to Aliko Dangote, CEO of the Dangote Group, during the commissioning of Dangote Petroleum refinery in Ibeju-Lekki, Lagos

Moving Feast

Premium badgeNigeria’s poor track record on refineries prompts skepticism on future timetable Never-ending delays for rehabilitating Nigerian oil refineries and getting the Dangote project up and running raise questions as to the credibility of...
Nigeria’s minister of Finance, Wale Edun

liquid confidence

Premium badgeNigeria FinMin: ‘No ending oil subsidies without fixing naira’ Finance Minister Wale Edun speaks to The Africa Report about his mission to reassure investors about Nigeria’s commitment to economic reforms.

Don't Know Your Customer

Premium badgeNigeria: OmniIndex plans nationwide roll-out of Blockchain education data storage California-based OmniIndex aims to use its Google partnership to roll out Blockchain for educational data across Nigeria and Africa.
According to Kristalina Georgieva (shown here at the Spring Meetings, April 2023), head of the IMF, 15% of low-income countries are already in a debt crisis and 40% are getting closer to it. MANDEL NGAN/AFP.

high risk

Premium badgeExplainer: How (un)sustainable Africa’s sovereign debt is Sovereign debt can be a powerful lever for economic development, provided it is used wisely. How do African countries manage to convince creditors?

Business top stories

A worker walks past an electronic board displaying market data during a trading session at the Nairobi Securities Exchange in Nairobi © A worker walks past an electronic board displaying market data during a trading session at the Nairobi Securities Exchange. REUTERS/Thomas Mukoya

IPO drought

Premium badgeKenya: Old Mutual restructuring $60m debts ahead of NSE listing The Kenyan insurer has significantly improved its unit economics but still needs to restructure its debt to better appeal to investors before its IPO ...
A man arranges crates of bread outside a shop at the end of a night-long curfew ordered by Kenya’s President Uhuru Kenyatta to slow the spread of the coronavirus disease (COVID-19), in Nairobi © Moniepoint aims to make its full range of services available to Kenyan small businesses. REUTERS/Thomas Mukoya

Flick the Switch

Premium badgeNigeria’s Moniepoint plans Kenya expansion after Kopo Kopo purchase Moniepoint CEO Tosin Eniolorunda discusses expansion into Kenya and his Nigerian product pipleine.
A general view shows a cargo train on the Standard Gauge Railway (SGR) line constructed by the China Road and Bridge Corporation (CRBC) and financed by the Chinese government in Athi River, Kenya May 16, 2023. REUTERS/Thomas Mukoya

'highly unlikely'

Premium badgeKenya-Uganda SGR extension still hinges on Chinese funding? Kenya is eyeing a Public-Private Partnership agreement to avoid incurring more debts as Uganda is poised to finalise a deal with Turkish company Yapi ...

Business top stories

A worker walks past an electronic board displaying market data during a trading session at the Nairobi Securities Exchange in Nairobi © A worker walks past an electronic board displaying market data during a trading session at the Nairobi Securities Exchange. REUTERS/Thomas Mukoya

IPO drought

Premium badgeKenya: Old Mutual restructuring $60m debts ahead of NSE listing The Kenyan insurer has significantly improved its unit economics but still needs to restructure its debt to better appeal to investors before its IPO ...
A man arranges crates of bread outside a shop at the end of a night-long curfew ordered by Kenya’s President Uhuru Kenyatta to slow the spread of the coronavirus disease (COVID-19), in Nairobi © Moniepoint aims to make its full range of services available to Kenyan small businesses. REUTERS/Thomas Mukoya

Flick the Switch

Premium badgeNigeria’s Moniepoint plans Kenya expansion after Kopo Kopo purchase Moniepoint CEO Tosin Eniolorunda discusses expansion into Kenya and his Nigerian product pipleine.
A general view shows a cargo train on the Standard Gauge Railway (SGR) line constructed by the China Road and Bridge Corporation (CRBC) and financed by the Chinese government in Athi River, Kenya May 16, 2023. REUTERS/Thomas Mukoya

'highly unlikely'

Premium badgeKenya-Uganda SGR extension still hinges on Chinese funding? Kenya is eyeing a Public-Private Partnership agreement to avoid incurring more debts as Uganda is poised to finalise a deal with Turkish company Yapi ...

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FILE PHOTO: U.S. Treasury Department Deputy Secretary Wally Adeyemo attends the Reuters NEXT Newsmaker event in New York City, New York, U.S., December 1, 2022. REUTERS/Brendan McDermid

‘same values’

Premium badgeUS companies ‘willing to make more investments’ in Nigeria The US Deputy Secretary of Treasury, Wally Adeyemo, pointed to unstable naira and corruption as some of the issues impeding Nigeria’s economic growth....
South Africa’s Finance Minister Enoch Godongwana speaks during his 2023 budget speech in Cape Town, South Africa. (Reuters/Shelley Christians)

No money

Premium badgeSouth Africa: Tempers boil as welfare state eyes $7bn bill Political tensions are mounting in South Africa as the overburdened state welfare system becomes too expensive to maintain.
© The Congo Basin rainforest absorbs the equivalent of all of Africa’s carbon emissions. (Jens Grossmann/LAIF-REA)

Fair pay

Premium badgeUN joins Congo basin presidents in call for higher carbon-credit prices in Africa Developing African countries are asking for larger pollution offsets in order to preserve their environments.
Ryad Mezzour, Moroccan Minister for Industry and Trade. DR

well-rounded

Premium badgeRyad Mezzour: Morocco is establishing genuine industrial sovereignty Decarbonisation, electric battery factories, renewable energies and more: the Moroccan Minister of Industry and Trade details his country’s strategy f...
The Husab uranium mine in western Namibia. 11 May 2018. Wu Changwei/Xinhua/REA

multiple agreements

From DRC to Madagascar, Japan weaves its web with critical metals From exploration to exploitation, Japan has signed a series of contracts with three African countries to secure its supplies of critical minerals.
View shows trucks queuing with sacks of grains at the grain market in Merkato neighbourhood of Addis Ababa © African Renaissance sees Ethiopian logistics as a key growth market. REUTERS/Tiksa Negeri

Problem Solvers

Premium badgeAfrican Renaissance considers second East Africa venture capital tech fund African Renaissance Partners believes venture-capital investment is set to take off in east Africa.