Nigeria, Africa's largest economy by Gross Domestic Product (GDP) size, is not among Africa's top 10 countries with high GDP per capita. GDP per capital is a country's gross domestic product divided by its midyear population, really speaking about how much money is available to an individual in the country. According to the International Monetary Fund, Seychelles, an island nation that records the [...]
Tag "Africa"
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Nigeria's economy will be growing at a slower pace in 2016 than sub-Saharan Africa's as a whole, the International Monetary Fund (IMF) said on Tuesday. After an extended period of strong economic growth, sub-Saharan Africa is set to experience its lowest economic growth rate in 15 years – yet the region's growth will outpace Nigeria's. According to its April 2016 regional economic outlook [...]
Akinwumi Adesina, president of the African Development Bank (AfDB), says the problem with the African continent is not capital but the lack of bankable projects. Speaking at the global infrastructure forum at the International Finance Corporation headquarters in Washington DC on Saturday, Adesina said to tackle infrastructural deficit in Africa, investments have to be made in capacity building. “I think at the [...]
Ngozi Okonjo-Iweala, former minister of finance, on Thursday said the zero political will to save under former President Goodluck Jonathan is responsible for the challenges facing the country. Speaking on “inequality, growth and resilience,” at George Washington University, the two-time finance minister said the World Bank and the International Monetary Fund (IMF) must seek means to embed savings in national constitutions [...]
Aliko Dangote, Africa’s richest man, has underscored the power problem in Africa by revealing that in his home state of Kano, 20 million people share 35 megawatts of electricity. Speaking at the Africa CEO forum in Abidjan, the president of Dangote group revealed of the decisions that has made his conglomerate so successful. “Where I come from, which is Kano in Nigeria, we [...]
Akinwumi Adesina, president of the African Development Bank (AfDB), has called for an Africa where visas would no longer be needed to move from country to country. Speaking at the African CEO forum, Adesina said he expects not just a liberal visa system, but one where tariffs would not be barriers within countries. “Our leaders have to absolutely bring down the walls [...]
The Tony Elumelu Foundation (TEF) has selected 1,000 entrepreneurs for the 2nd round of the Tony Elumelu Entrepreneurship Programme (TEEP). Launched in 2015, TEEP is said to be the largest African philanthropic initiative devoted to entrepreneurship. It represents a 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs and add $10 billion in revenues to Africa’s economy. Over [...]
Aliko Dangote’s Dangote Group, and Oba Otudeko, chairman of Honeywell Flour Mills, did Nigeria proud again as they won African company of the year and CEO of the year at the Africa CEO awards in Abidjan. The duo were awarded last night in Cote D’Ivoire for their good work in the development of the African economy. The African company of the year [...]
IHS Holding Limited (IHS) and Helios Towers Nigeria Limited (HTN), the pioneer tower infrastructure sharers in Africa, have reached an agreement on the first mobile infrastructure in Africa. IHS, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, announced the agreement, which will see it acquire HTN’s portfolio of 1,211 diversified tower sites throughout Nigeria. The firms say the [...]
Barclays Bank says it is looking to further expand in Nigeria, despite moving to sell off a majority of its shares in South Africa. The Barclays Africa Group Ltd, its African subsidiary, also said there is no lack of interest from buyers seeking a stake in South Africa’s third-largest lender. With the bank looking to reduce its 62.3 percent holding to less [...]
The UNESCO’s Institute for Statistics (UIS) says 16 million girls, below age 11, will not get basic education, if current trends continue. Irina Bokova, UNESCO’s director-general, described this as worrisome, saying despite all the efforts and progress made over the past 20 years, statistics show that girls were still being denied the right to education. “We will never achieve any of the [...]
BY OSASU IGBINEDION According to the United Nations Population Division, in 2015 there were 1.2 billion youth in the world ages 15-24. 226 million of this age group live in Africa, accounting for 19% of the global youth population. In the past decade we have seen an emergence of young people in politics all over the world. We need not look far [...]
Six months to the main draw for the 2018 World Cup qualifiers, the Super Eagles of Nigeria remain 66 in the world and 14 in Africa. In the latest ranking of federations released on Thursday by the Federation of International Football (FIFA), Nigeria slipped seven spots to 66th in the world, following recent performances in Africa qualifiers. The ranking will determine how African countries [...]
Pope Francis is set to visit Africa on a five-day visit. While addressing Christain faithful at the Vatican city on Sunday, he prayed for Africa and also asked the congregation to pray for him and the continent. "On Wednesday, I'll begin my trip to Africa, where I wll visit Kenya, Uganda and Central African Republic." "I ask all of you to pray for [...]
The growth in gross domestic product (GDP) in Nigeria and the rest of sub-Sahara Africa is set to drop to a six-year low in 2015, World Bank projections have revealed. The projections have revealed that the region is maintaining growth, albeit at a slower pace, due to a more challenging economic environment. Growth will slow in 2015 to 3.7% from 4.6% in 2014, [...]
At least 61 people have been confirmed dead, following a massive heatwave in Egypt, the country’s ministry of health has confirmed. The heatwave which drove extreme temperatures in the north African country has led to the admission of about 600 people in various hospitals across the country. According to Hossam Ghaffar, a spokesperson from the country’s ministry of health, the problem faced [...]
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