Africa

Ebuka Daniel The President of the African Development Bank, Dr Akinwumi Adesina has said that climate-resilient infrastructure offers investment potential of between $130bn and $170bn for the African continent. He also said that African energy transition presents a $100bn per year investment opportunity for the continent. He said this at …

Ebuka Daniel Africa is currently seeing investment inflow from the biggest companies across the globe, but Nigeria with the biggest market in the continent is not having the largest share of the influx of the multinational firms due to harsh operating environment, Sanyade Okoli, Chief Executive Officer, Alpha African Advisory …

Oluwasina Phillip The Economic Commission for Africa says it is working with African countries to increase investments in infrastructure and agriculture on the continent. A statement by the ECA Communications Section on Thursday in Addis Ababa quoted Habiba Ben Barka as saying that the ECA was also working to strengthen …

Babajide Iletogun The African Development Bank has said the impact of climate change on the continent could rise to $50bn each year by 2040, with a further three per cent decline each year in gross domestic product by 2050. The bank conveyed this during a virtual Leaders’ Dialogue it convened …

Ebuka Daniel The African Export-Import Bank has signed the Instrument of Accession to the Inter-Surety Agreement for the Implementation of the COMESA Regional Customs Transit Guarantee/bond Agreement. The Bank is now set to begin the implementation of its $1bn Continental Transit Guarantee Scheme, of which about $200m is earmarked for …

Thirty-nine million Africans are at risk of falling into extreme poverty by 2021. This was announced by the African Development Bank (AfDB) in a report published last week. In its African Economic Outlook 2021, the institution said the Covid-19 pandemic will continue to affect the most fragile segments of the …

President Muhammadu Buhari, said that the Federal Government has allocated 0.5% of the country’s annual GDP (Gross Domestic Product), to improve investment and aid the development of Science, Technology and Innovation in the country. The president disclosed that the investment in STI is in line with the African Union resolution …

Despite the challenging backdrop of a global pandemic and external economic shocks, Africa is expected to recover from its worst recession in half a century and reach 3.4 percent growth in 2021, the African Development Bank said in its 2021 African Economic Outlook report. The outbreak of the novel coronavirus …

The National Youths Service Corps, NYSC, has delisted graduates of eight foreign universities in Benin Republic, Niger and Cameroon from participating in the 2021 Batch A orientation course. In a circular containing the ban, dated March 5, 2021, which was addressed to State/FCT Coordinators and sighted by Daily Nigerian, the …

The Economic and Financial Crimes Commission, EFCC on Thursday, March 11, 2021 arraigned Peter Hena, Former Coordinating Director of Federal Inland Revenue Service, FIRS and eight other officers of the agency before Justice Ijeoma Ojukwu of a Federal High Court sitting in Abuja. The others are Mohammed Bello Auta (Director …