Tuesday, July 23, 2019

Tag "Africa"

    Adesina: Money is not Africa’s problem

Adesina: Money is not Africa’s problem

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 [...]

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    Okonjo-Iweala: No political will to save under Jonathan

Okonjo-Iweala: No political will to save under Jonathan

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 [...]

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    Dangote: 20million in Kano share 35mw of power

Dangote: 20million in Kano share 35mw of power

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 [...]

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    Adesina seeks abolishment of intra-Africa visa

Adesina seeks abolishment of intra-Africa visa

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 [...]

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    UNVEILED: 1,000 Elumelu African entrepreneurs

UNVEILED: 1,000 Elumelu African entrepreneurs

‎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 [...]

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    Dangote, Otudeko win big at Africa CEO awards

Dangote, Otudeko win big at Africa CEO awards

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 [...]

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    IHS, HTN bring Africa’s first mobile infrastructure to Nigeria

IHS, HTN bring Africa’s first mobile infrastructure to Nigeria

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 [...]

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    Barclays eyes Nigeria after selling SA shares

Barclays eyes Nigeria after selling SA shares

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 [...]

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    16m girls may NEVER read and write, says UNESCO

16m girls may NEVER read and write, says UNESCO

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 [...]

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    Super Eagles end 2015 outside Africa’s top 10

Super Eagles end 2015 outside Africa’s top 10

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 [...]

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    VIDEO: Pope prays for Africa ahead of visit

VIDEO: Pope prays for Africa ahead of visit

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 [...]

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    Nigeria, Africa’s GDP growth ‘to hit 6-year low’

Nigeria, Africa’s GDP growth ‘to hit 6-year low’

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, [...]

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    Heatwave hits Africa, kills 61 in Egypt

Heatwave hits Africa, kills 61 in Egypt

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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    Obama: Africa must look within to end corruption

Obama: Africa must look within to end corruption

President Barrack Obama of the United States (US) says corruption is affecting the economic potentials of Africa, urging continental leaders to look within to end the vice.Obama noted that graft is not peculiar to the continent alone, saying issues of corruption arise in the US and other parts of the world.Describing his father’s continent as one of the best in [...]

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    Akon launches solar academy in Mali

Akon launches solar academy in Mali

Senegalese-American R&B and hip hop artiste, Akon, inaugurated a solar academy, ‘Akon Lighting Africa’, in Bamako, capital of Mali, on Tuesday.The musician said he decided to invest in solar power to help implant a viable platform to power homes that lacked electricity and assist some 600 million people on the continent.“We have the sun and innovative technologies to bring electricity [...]

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    Falling crude oil prices ‘worse than Ebola’

Falling crude oil prices ‘worse than Ebola’

Decline in oil prices has affected Africa more than Ebola if both situations were to be judged on purely economic terms.According to an economic analysis by Reuters, recent fall in oil prices across the world has dealt more severely with Africa’s economy than the deadly viral disease, causing a setback on investment in exploration and plans to industrialise Africa.According to [...]

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Exchange Rates

July 22, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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