African Business News

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

125694 fg plans to establish special police force to combat illegal mining

Nigeria Cracks Down on Illegal Lithium Mining Amid Global Demand

By Ifunanya / May 27, 2024

Abuja, Nigeria – Nigeria’s government has intensified efforts to clamp down on illegal mining activities, particularly targeting unlicensed miners involved […]

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Zim Currency

Zimbabwe’s Newest Currency Faces Public Mistrust Despite Reggae Artist’s Praise

By Ifunanya / May 27, 2024

Harare, Zimbabwe – Despite a catchy reggae tune praising Zimbabwe’s newest currency, the ZiG (Zimbabwe Gold), public mistrust persists. Released […]

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Banex Plaza 1

Nigerian Military Reopens Banex Plaza After Week-Long Siege Following Violent Clash

By Ifunanya / May 27, 2024

Abuja, Nigeria – The Nigerian military has reopened Banex Plaza in the Wuse 2 area of Abuja for business after […]

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110026 no plans to impose fresh taxes in aviation sector minister keyamo

Nigeria Air Suspended Amid Fraud Allegations, Says Minister of Aviation

By Ifunanya / May 27, 2024

Abuja, Nigeria – The Minister of Aviation and Aerospace Development, Festus Keyamo, has labelled the ‘Nigeria Air’ project, introduced by […]

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UBA Records Record-Breaking Gross Revenue of N2.08 Trillion in 2023

By Ifunanya / May 27, 2024

Lagos, Nigeria – The United Bank for Africa (UBA) has reported a remarkable 143% increase in gross revenue, reaching a […]

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igerian Securities and Exchange Commission SEC Tower in Abuja

SEC to Issue Framework for Bank Recapitalization in Capital Market

By Ifunanya / May 27, 2024

Abuja, Nigeria—The Securities and Exchange Commission (SEC) has announced its intention to release a framework guiding the capital market in […]

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Dr. Ernest Addison

Ghana’s Public Debt Surges by GH¢47.4 Billion in Early 2024

By Ifunanya / May 26, 2024

Accra, Ghana – Ghana’s public debt experienced a significant rise of GH¢47.4 billion in the first two months of 2024, […]

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food crisis

Soaring Food Prices Compound Nigeria’s Economic Woes, 130% Increase

By Ifunanya / May 25, 2024

Lagos, Nigeria – The prices of essential food items including rice, garri, beans, and yam have skyrocketed by over 130 […]

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CBN raises exchange rate for cargo clearance amid forex crisis

Central Bank of Nigeria Sacks 200 Staff Amid Economic Challenges

By Ifunanya / May 25, 2024

In a significant development amid ongoing economic difficulties, the Central Bank of Nigeria (CBN) has reportedly terminated the employment of […]

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ABCON Urges CBN to Ban Non Oil Exporters from Official FX

FX Inflows Skyrocket: Nigeria Sees 136% Surge in First Quarter of 2024, Central Bank Reports

By Ifunanya / May 23, 2024

The Central Bank of Nigeria (CBN) has unveiled startling statistics indicating a remarkable surge in foreign exchange (FX) inflows into […]

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Unrest in New Caledonia Fuels Global Nickel Price Surge

By Ifunanya / May 23, 2024

Tensions in the French Pacific territory of New Caledonia have sent shockwaves through global nickel markets, with prices soaring in […]

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cbn dollars

CBN Revises Guidelines For Bureau De Change Operators

By Ifunanya / May 23, 2024

The Central Bank of Nigeria has updated its regulatory guidelines for Bureau De Change operators. After consulting with stakeholders, the […]

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600,000 Kenyans Stop Using Mobile Money in 2023 Due to Taxes, Cybercrime

By Ifunanya / May 22, 2024

The number of Kenyans using mobile money services dropped by 600,000 in the year ending December 2023, according to the […]

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1706098260 Inflation to fall in 2024 — Cardoso

CBN Governor Dismisses Speculation, Asserts No Nigerian Bank Under Pressure for Recapitalisation

By Ifunanya / May 21, 2024

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has clarified that Nigerian banks are not facing pressure regarding […]

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CBN Governor Yemi Cardoso

CBN Governor Clarifies Stance on Fintech Licenses

By Ifunanya / May 21, 2024

The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced that the licenses of fintech companies such as […]

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Military Assault at Banex Plaza Leaves Woman in Coma

By Ifunanya / May 21, 2024

A military personnel stationed at the Banex Plaza in the Wuse 2 area of Abuja has reportedly assaulted a woman, […]

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CBNs Monetary Policy Rate Increase Wont Boost Economy Ex CBN Director

CBN Raises Interest Rate to 26.25% to Combat Soaring Inflation

By Ifunanya / May 21, 2024

The Central Bank of Nigeria (CBN) has increased the interest rate by 150 basis points, raising it from 24.75% to […]

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CAC to delist 91843 companies over failure to comply with

Only 20% of Registered Entities Pay Annual Returns, Says CAC Registrar General

By Ifunanya / May 20, 2024

The Registrar General (RG) of the Corporate Affairs Commission (CAC), Hussaini Magaji (SAN), has revealed that only 20 per cent […]

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CBNs Monetary Policy Rate Increase Wont Boost Economy Ex CBN Director

Financial Experts Warn of Naira Depreciation Amid Low FX Reserves and Investor Withdrawal

By Ifunanya / May 20, 2024

Financial experts have expressed concerns over the Central Bank of Nigeria’s (CBN) low net foreign exchange (FX) reserves and its […]

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CEO of MTN Nigeria Karl Toriola

MTN Nigeria CEO Defends Board’s Remuneration Amid Economic Challenges

By Ifunanya / May 20, 2024

Lagos, Nigeria – The Chief Executive Officer of MTN Nigeria Communications, Mr. Karl Toriola, has addressed concerns regarding the remuneration […]

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