African Business News

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

Nigeria's naira continues to appreciate against dollar in black market

Naira to Dollar Exchange: Recapitalization deadline for BDC operators ends Tuesday — ABCON

By Ifunanya / June 3, 2025

The Association of Bureau De Change Operators of Nigeria has said the deadline for the recapitalization of legal BDC operators […]

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Major economy facing sharpest slowdown named — RT Business News

US economy to suffer sharpest drop among major nations with growth set to slump to 1.6% this year

By Ifunanya / June 3, 2025

The global economy is bracing for a significant slowdown, with the United States poised to suffer the sharpest drop among […]

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US extends tariff exemptions on certain Chinese imports — RT Business News

US extends tariff pause on Chinese imports through August amid stalled trade talks

By Ifunanya / June 3, 2025

The United States has extended a pause on tariffs for certain Chinese imports until August 31, amidst stalled negotiations between […]

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Nigeria's presidency moves to clear N2tn power debt

Nigeria’s presidency moves to clear N2tn power debt

By Ifunanya / June 3, 2025

Nigeria’s presidency has reaffirmed its stance to clear the country’s N2 trillion legacy debt owed to electricity generation companies before […]

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Fuel price may drop to N800 per litre - Marketers

Fuel, diesel prices may increase as FG, Reps push to implement 5% road user charge

By Ifunanya / June 3, 2025

The price of premium motor spirit and automotive gas oil may increase as the Federal Ministry of Works and House […]

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Tesla execs ‘questioned’ Musk over denial of company plans – Reuters — RT Business News

Tesla Executives Questioned Elon Musk Over Denial of Scrapped Low Cost Electric Vehicle Project

By Ifunanya / June 3, 2025

Tesla CEO Elon Musk’s denial of a report that the company had scrapped its low-cost electric vehicle project, known as […]

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Naira depreciates against dollar across official, black markets after Easter holidays

Naira records massive appreciation across FX markets

By Ifunanya / June 2, 2025

The naira appreciated massively against the dollar across foreign exchange markets to begin the week on an impressive note. At […]

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Access Bank reaffirms commitment to diaspora financial inclusion, commends launch of NRBVN Platform

Nigeria’s Access Bank acquires Kenya’s NBK

By Ifunanya / June 2, 2025

A Nigerian commercial bank, Access Bank PLC, has officially acquired the National Bank of Kenya, NBK. Access Bank disclosed this […]

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Russia’s Sber launches Bitcoin-linked bonds — RT Business News

Russia’s Largest Bank Introduces Bitcoin-Linked Bonds to Qualified Investors

By Ifunanya / June 2, 2025

Russia’s largest lender, Sber, has made a significant move into the cryptocurrency market by introducing structured bonds tied to Bitcoin. […]

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Fortunes of Russia’s richest grow – Bloomberg — RT Business News

Russia’s Billionaires Gain $28 Billion in Wealth Amid Global Ranking Updates

By Ifunanya / June 2, 2025

A significant surge in wealth has been observed among Russia’s richest individuals, with their combined net worth increasing by $28 […]

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