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FG seeks private sector support to bridge $10bn funding gap in power industry

FG seeks private sector support to bridge $10bn funding gap in power industry

The federal government has announced plans to leverage the private sector to bridge a $10 billion funding gap needed to ensure a stable electricity supply across the country. Jobson Ewalefoh, the director-general of the Infrastructure

Business
UBA, Mastercard launch debit card with discounts on online purchases

UBA, Mastercard launch debit card with discounts on online purchases

The United Bank for Africa (UBA) Plc has announced the launch of a debit card in partnership with Mastercard to celebrate its 75th anniversary. In a statement on Wednesday, the bank said the collaboration aims to honour

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Nigerian passport gains two spots, ranks 94th in global power index

Nigerian passport gains two spots, ranks 94th in global power index

The Nigerian passport has gained two spots in the world’s most powerful passports ranking, now holding 94th place from 96th held in 2023. This update was revealed by the Henley Passport Index, which evaluates the

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Nigeria spent $3.5bn to service foreign debt in nine months

Nigeria spent $3.5bn to service foreign debt in nine months

The federal government spent $3.57 billion servicing the country’s foreign debt in the first nine months of 2024. According to data obtained from the Central Bank of Nigeria (CBN) report on international payment statistics, the federal government

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Singapore-based TransferTo and Pan-African Ecobank Group Forge Strategic Partnership to Expand Financial Access and Cross-Border Payments Across Africa

Singapore-based TransferTo and Pan-African Ecobank Group Forge Strategic Partnership to Expand Financial Access and Cross-Border Payments Across Africa

TransferTo , a  Singapore-based global technology group, and Ecobank Group, the leading pan-African financial institution, announce a landmark Memorandum of Understanding (MOU), laying the groundwork to transform financial access and cross-border payment solutions across Africa. This strategic

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Uganda to sue Elon Musk as Space X satellite debris lands in western villages

Uganda to sue Elon Musk as Space X satellite debris lands in western villages

Ugandan forensic experts have released a detailed report on the origin and impact of space debris that fell across parts of western Uganda in May 2023.The debris, traced to a U.S.-based SpaceX satellite launch, scattered

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Tanzania commits Sh25 trillion to enhance its infrastructures

Tanzania commits Sh25 trillion to enhance its infrastructures

The Tanzanian Public-Private Partnership Centre has set its sights on at least 25 trillion Tanzanian shillings ($9 billion) to fund important infrastructure and development projects across many sectors, with over 84 projects already ongoing. This

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With a More Than 50% Market Share, Women Lead the Africa Creator Economy

With a More Than 50% Market Share, Women Lead the Africa Creator Economy

African women now make up 53.2% of the continent’s creator economy, carving out a commanding share in sectors from fashion to finance on platforms like Instagram, TikTok, and YouTube, according to recent research on the

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South Africa Must Cultivate A Security Culture As Cybercrime Continues To Impact Economic Growth

South Africa Must Cultivate A Security Culture As Cybercrime Continues To Impact Economic Growth

Cybercrime poses such a significant threat to growth for developing nations that it’s keeping many countries in a perpetual loop of poverty. Certainly in South Africa, inadequate cybersecurity measures may significantly impact the country’s economic

Business
EIB: Morocco’s Banking System Among Africa’s ‘Most Sophisticated’

EIB: Morocco’s Banking System Among Africa’s ‘Most Sophisticated’

Morocco boasts one of Africa’s most sophisticated banking systems, with private sector credit making up 88% of the country’s GDP, according to the latest report from the European Investment Bank (EIB). Large Moroccan banks have steadily expanded