African Business News

Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.

Egyptian Pound Plunges to 49.16 Against US Dollar Amid Inflation

Egyptian Pound Plunges to 49.16 Against US Dollar Amid Inflation and Fuel Price Hikes

By Ifunanya / August 7, 2024

Egyptian Pound Slides Against Foreign Currencies, Approaching 50 Per US Dollar The Egyptian pound has continued its downward trend, hitting […]

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Nigeria's Food Inflation Crisis: The Shift to Cheaper Substitute Food

Nigeria’s Food Inflation Crisis: The Shift to Cheaper Substitute Food

By Ifunanya / August 7, 2024

Nigerians Turn to Local, Cheaper Food Options Amid High Inflation Subheading: As food prices soar, many Nigerians are embracing traditional, […]

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Nigeria Unveils $500M Domestic Dollar Dominated Bond with $1B Target

Nigeria Unveils $500M Domestic Dollar-Dominated Bond with $1B Target

By Ifunanya / August 7, 2024

Nigeria Unveils $500 Million Domestic Dollar-Dominated Bond The Nigerian government has taken a significant step in its bid to raise […]

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Federal Government Collaborates with ICAC to Revive Cotton/Textile Industry

Federal Government Collaborates with ICAC to Revive Cotton/Textile Industry

By Ifunanya / August 7, 2024

Nigeria’s Cotton/Textile Industry Revival: A New Beginning In a significant move to revitalize the moribund cotton/textile industry, the Federal Government […]

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Nigeria's Central Bank Approves Merger of Providus Bank and Unity

Nigeria’s Central Bank Approves Merger of Providus Bank and Unity Bank

By Ifunanya / August 6, 2024

Nigeria’s Central Bank Approves Merger Between Providus Bank and Unity Bank In a significant move to stabilize the country’s financial […]

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National Grid: Arcing Cause of Outage, Not Collapse Claims TCN

National Grid: Arcing Cause of Outage, Not Collapse Claims TCN

By Ifunanya / August 6, 2024

Nigeria’s National Grid Not Collapsed, Says Transmission Company In a statement released on Tuesday, the Transmission Company of Nigeria (TCN) […]

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Aramco's Profit Drops 3.4% as Oil Volumes Sold Fall and

Aramco’s Profit Drops 3.4% as Oil Volumes Sold Fall and Refining Margins Weaken

By Ifunanya / August 6, 2024

Saudi Oil Giant Aramco Reports Slight Drop in Net Profit Saudi oil giant Aramco, the jewel of the Saudi economy, […]

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Fintava Partners with Bizipay to Boost Financial Inclusion in Jigawa

Fintava Partners with Bizipay to Boost Financial Inclusion in Jigawa State

By Ifunanya / August 6, 2024

Fintech Firm Fintava Partners with Bizipay to Expand Financial Access in Jigawa State A significant milestone has been achieved in […]

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Naira Reaches New High Against Dollar Despite Ongoing Hunger Protests

By Ifunanya / August 6, 2024

Naira Makes Gains Against Dollar Despite Ongoing Hunger Protests In a surprising turn of events, the Nigerian naira has recorded […]

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Rivers State Governor Signs Order to Boost Investment and Economic

Rivers State Governor Signs Order to Boost Investment and Economic Growth

By Ifunanya / August 5, 2024

Rivers State Establishes Investment Promotion Council to Spur Economic Growth Nigeria’s Rivers State Governor, Siminalayi Fubara, took a significant step […]

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Nigeria's NGX Receives SEC Approval for Impact Board to Boost

Global Stocks Crash: NGX, Europe, and Asia Suffer Heavy Losses

By Ifunanya / August 5, 2024

Global Stock Market Crash Hits Nigeria and Japan Hard Nigeria’s equities market took a significant hit on Monday, with the […]

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Federal Court Annuls Sale of Nigeria Air to Ethiopian Airlines

Federal Court Annuls Sale of Nigeria Air to Ethiopian Airlines

By Ifunanya / August 5, 2024

Nigeria’s Ambitious National Carrier Plan Hits Turbulence as Court Throws Out Sale to Ethiopian Airlines The Nigerian government’s plan to […]

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Nigeria Raises Import Duty Exchange Rate to N1618.73 Amid Forex

Nigeria Raises Import Duty Exchange Rate to N1618.73 Amid Forex Fluctuations

By Ifunanya / August 5, 2024

Nigeria’s Central Bank Raises Import Duty Exchange Rate Amid Currency Fluctuations The Central Bank of Nigeria (CBN) has increased the […]

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Nigeria's Economy Boasts ₦9.1tn Revenue, ₦570bn Livelihood Support, and Debt

Nigeria’s Economy Boasts ₦9.1tn Revenue, ₦570bn Livelihood Support, and Debt Reduction

By Ifunanya / August 5, 2024

Nigeria Boosts Fiscal Revenue, Releases ₦570bn to States In response to widespread calls against hunger and hardship in the country, […]

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Nigeria's Public Debt to Hit N130tn, Raising Concerns about Debt to GDP

Nigeria’s Public Debt to Hit N130tn, Raising Concerns about Debt-to-GDP Ratio

By Ifunanya / August 5, 2024

Nigeria’s Public Debt Stock Projected to Hit N130tn, Raising Concerns About Debt-to-GDP Ratio Nigeria’s public debt stock is expected to […]

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Tinubu Launches Revival Plan for Oil and Gas Industry to

Tinubu Launches Revival Plan for Oil and Gas Industry to Tame High Cost, Inflation

By Ifunanya / August 4, 2024

Nigeria’s Oil Sector Revamp: President Tinubu’s Plan to Boost Economy In a bid to revitalize the nation’s oil sector, Nigerian […]

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Boost Risk Management Efficiency with AI and Blockchain for Small

Boost Risk Management Efficiency with AI and Blockchain for Small Business Advantage

By Ifunanya / August 4, 2024

Small Businesses Can Now Breathe a Sigh of Relief with AI and Blockchain In today’s fast-paced and ever-changing business environment, […]

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Nigeria's Fuel Queue: Experts Warn Against Rushed Refinery Shut Down

Nigeria’s Fuel Queue: Experts Warn Against Rushed Refinery Shut Down

By Ifunanya / August 4, 2024

Nigeria’s Fuel Import Dilemma: Experts Advise Against Sudden Stoppage A heated debate has emerged in Nigeria’s oil and gas sector […]

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Nigerian National Petroleum Company Wellhead on Fire in Rivers State

Nigerian National Petroleum Company Wellhead on Fire in Rivers State

By Ifunanya / August 3, 2024

Fire Reported at Akaso 4 Wellhead in Nigeria’s Rivers State A devastating fire has broken out at the Akaso 4 […]

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Nigeria's Petroleum Scarcity: NNPCL's Shady Deals with Tank Farm Owners

Nigeria’s Petroleum Scarcity: NNPCL’s Shady Deals with Tank Farm Owners Cause Woes

By Ifunanya / August 3, 2024

Petroleum Marketers Blame Scarcity on Alleged Shady Deals in Nigeria’s Oil Sector A row has erupted in Nigeria’s oil sector, […]

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