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Business
Nigeria Targets 80,000 bpd Utapate Crude Expansion

Nigeria Targets 80,000 bpd Utapate Crude Expansion

Nigeria’s national oil company, Nigeria National Petroleum Co. Ltd. (NNPC), has intensified efforts to scale up production of the newly introduced Utapate crude oil blend. The company, in partnership with Sterling Oil Exploration & Energy

Business
Africa’s Smartphone Market Grows 3% in Q3 2024 Amid Economic Challenges

Africa’s Smartphone Market Grows 3% in Q3 2024 Amid Economic Challenges

Canalys’ latest research reveals that Africa’s smartphone market grew by 3% year on year in Q3 2024, reaching 18.4 million units, reflecting resilience amid a complex economic landscape. While stabilizing currencies and easing price pressures

Business
5G Era Begins in Congo as MTN Advances African Digital Transformation

5G Era Begins in Congo as MTN Advances African Digital Transformation

MTN Congo has officially launched 5G, making the Republic of Congo the fifth African country in MTN Group’s rollout of ultra-fast broadband technology. The milestone was celebrated at a ceremony presided over by President Denis

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Nigeria’s Unemployment Rate Drops to 4.3% in Q2 2024

Nigeria’s Unemployment Rate Drops to 4.3% in Q2 2024

Nigeria’s unemployment rate declined to 4.3 percent in the second quarter of 2024, signalling improved labour market conditions. According to the latest report released on Monday by the National Bureau of Statistics, this marked a

Business
Central Bank of Egypt to Launch Card Tokenisation in 2025 for Enhanced Payment Security

Central Bank of Egypt to Launch Card Tokenisation in 2025 for Enhanced Payment Security

Multiple reports have confirmed that the Central Bank of Egypt (CBE) is set to launch card tokenisation in 2025. Reportedly the tokenisation could replace traditional card details with unique digital identifiers, effectively reducing the risk

Business
Digital Retail Africa 2025

Digital Retail Africa 2025

The retail industry is undergoing rapid transformation, and the upcoming Digital Retail Africa 2025 is set to prepare businesses for the challenges and opportunities ahead. Taking place on 30 January 2025 at the Cape Town International Convention

Business
Closing MSME finance gap in Côte d’Ivoire and Senegal

Closing MSME finance gap in Côte d’Ivoire and Senegal

Swedfund has invested EUR 20 million in Compagnie Financière Africaine (COFINA).  The company is a leading mesofinance institution that provides loans to businesses in West and Central Africa. The new investment will  enable COFINA to

Business
2025-27 MTEF: LCCI raises concerns over impacts on businesses

2025-27 MTEF: LCCI raises concerns over impacts on businesses

The key parameters and assumptions of the 2025-27 Medium-Term Expenditure Framework (MTEF) are overly optimistic considering the prevailing economic and social indicators, the Director-General of Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona,

Business
Nigeria must tackle high cargo inspection challenges to boost trade, says Okonjo-Iweala

Nigeria must tackle high cargo inspection challenges to boost trade, says Okonjo-Iweala

The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, said there is an urgent need for Nigeria to embark on reforms in customs practices aimed at improving trade flow and reducing delays at

Business
Nigeria’s Dangote Refinery allegedly begins petrol exports to West Africa – Report

Nigeria’s Dangote Refinery allegedly begins petrol exports to West Africa – Report

Nigeria’s Dangote Refinery, owned by Africa’s richest man, Aliko Dangote, has begun the export of refined petroleum products to neighbouring West African countries. This is according to a newspaper report by Bloomberg on Tuesday. However,