African Business News

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

88 of workers self employed says NBS report

Nigeria’s Foreign Trade Surges to N31.810.56 Billion in Q1 2024

By Ifunanya / June 10, 2024

Nigeria’s foreign trade, comprising imports and exports, reached N31.810.56 billion in the first quarter of 2024, according to the latest […]

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Crude

Crude Oil Exports Dominated Nigeria’s Trade in Q1 2024

By Ifunanya / June 10, 2024

Crude oil exports accounted for 80.80 percent of Nigeria’s export figure in the first quarter of 2024, according to the […]

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IMF

IMF Predicts Nigerian Economy to Reach $1.85 Trillion by 2029

By Ifunanya / June 7, 2024

The Nigerian economy is projected to expand significantly, reaching $1.85 trillion by 2029 in Purchasing Power Parity (PPP) terms, according […]

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Mercy Eke

Reality Star Mercy Eke Voices Concern Over Funds in Revoked Heritage Bank Account

By Ifunanya / June 6, 2024

Following the revocation of Heritage Bank’s operating license by the Central Bank of Nigeria (CBN), reality star Mercy Eke has […]

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Federal Government Files Tax Evasion Lawsuit Against Binance Crypto Exchange

Nigerian Government Accuses Binance of $20 Billion Turnover Without Tax Payments

By Ifunanya / June 6, 2024

Abuja, Nigeria – The Nigerian government has disclosed that Binance, a prominent cryptocurrency platform, generated a turnover exceeding $20 billion […]

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Global Public Debt Hits Record High of $97 Trillion, UN Reports

By Ifunanya / June 6, 2024

June 4, United Nations Headquarters – Global public debt surged to an unprecedented $97 trillion in 2023, with developing countries […]

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A currency trader displays US dollars and Congolese francs at a local market in Kinshasa Congo Thursday November 9 2006 AP

Central Bank of Congo Mandates Exclusive Use of Congolese Francs for Electronic Payments to Curb Dollarization

By Ifunanya / June 6, 2024

The Central Bank of Congo (BCC) has mandated that all Electronic Payment Terminals (EPTs) in the Democratic Republic of Congo […]

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Ghana, Korea sign $2bn deal to drive development agenda

By Ifunanya / June 6, 2024

Ghana has secured a major financial boost for its development aspirations, inking a $2 billion framework arrangement with South Korea’s […]

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Finance Minister Wale Edun 1

Tripartite Committee Resumes Talks on New Minimum Wage for Nigerian Workers

By Ifunanya / June 5, 2024

The Tripartite Committee on Minimum Wage has resumed discussions regarding a new minimum wage for workers in Nigeria. The talks […]

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Femi Otedola Exposes ‘fraudulent’ Transactions In Company’s Zenith Account

By Ifunanya / June 5, 2024

Billionaire Businessman, Femi Otedola has accused Jim Ovia, Chairman of Zenith Bank Plc of fraudulently using an account belonging to […]

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15958 South Korea President Yoon Suk yeol

South Korea Strengthens Ties with Africa: President Yoon Announces Key Minerals Partnership at Inaugural Korea-Africa Summit

By Ifunanya / June 5, 2024

South Korean President Yoon Suk Yeol committed to fostering shared growth, sustainability, and solidarity during the closing day of the […]

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Nobody goes around searching for foreign investors Peter Obi

Heritage Bank: CBN Should Not Destabilize The Country’s Financial System — Peter Obi

By Ifunanya / June 4, 2024

The latest CBN’s revocation order on Heritage Bank’s operating license and subsequent appointment of NDIC as liquidator of its assets […]

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CBN reviews timeline for issuance of credit letters amid forex

CBN Lifts Ban on Onboarding New Customers for Five Fintech Startups

By Ifunanya / June 4, 2024

Abuja, June 5, 2024 – The Central Bank of Nigeria (CBN) has officially lifted its ban on onboarding new customers […]

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Naira Freefall CBN bars IOCs in Nigeria from repatriating 100

Central Bank of Nigeria Revokes Heritage Bank Plc’s Banking License

By Ifunanya / June 3, 2024

June 3, 2024 – Abuja In a decisive move to uphold the integrity of Nigeria’s financial system, the Central Bank […]

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CBN Governor Yemi Cardoso

Mass Layoffs Disrupt Operations at Central Bank of Nigeria

By Ifunanya / June 3, 2024

The Central Bank of Nigeria (CBN) is experiencing operational disruptions following the mass dismissal of over 600 staff since March […]

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27176 chinas xi handed historic third term as president

China Reaffirms Commitment to Support Zambia’s Debt Restructuring Efforts

By Ifunanya / June 2, 2024

China is closely monitoring the progress of Zambia’s debt restructuring negotiations and remains committed to supporting the nation through its […]

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Erisco Foods CEO Threatens N5 Billion Lawsuit Against Facebook User Over Sugar Too Sweet Tomato Mix 1

Court Grants Bail to Chioma Okoli Over Online Commentary on Erisco Foods Limited

By Ifunanya / May 31, 2024

In a significant development, the Federal High Court in Abuja has granted bail to Mrs Chioma Okoli in the sum […]

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Sisi Xi jinping meeting

Egypt and China Sign Agreements to Deepen Cooperation

By Ifunanya / May 30, 2024

Beijing, China – Egypt and China signed agreements on Wednesday to deepen their cooperation during President Abdel-Fattah el-Sissi’s visit to […]

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Brass Digital Bank Acquired by Investment Group Led by Paystack

By Ifunanya / May 28, 2024

Lagos, Nigeria – Nigerian digital bank for small businesses, Brass, has been acquired by an investment group spearheaded by Paystack. […]

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Finance Minister Wale Edun

Nigeria’s Economic Growth Allows Debt Payment Without Central Bank Loans, Says Finance Minister

By Ifunanya / May 28, 2024

Abuja, Nigeria – Nigeria’s Minister of Finance, Wale Edun, announced on Tuesday that the country is now financially stable enough […]

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