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Will Baru’s Appointment As NNPC Gmd Resolve the N’delta Crisis?

Will Baru’s Appointment As NNPC Gmd Resolve the N’delta Crisis?

After months of pressure mounted by northern interests led by Dr. Maikanti Kacalla Baru, a former Group Executive Director, Exploration and Production of the Nigerian National Petroleum Corporation (NNPC) to be made the Group Managing Director (GMD) of the state-run oil firm, President Muhammadu Buhari finally succumbed monday when he removed Dr. Emmanuel Ibe Kachikwu […]

Cramer: Don’t buy! Why The Mass Brexit Sell-Off Is Worth Riding Out

Cramer: Don’t buy! Why The Mass Brexit Sell-Off Is Worth Riding Out

There just aren’t enough sectors in the S&P 500 for Jim Cramer to recommend buying stocks on the Brexit decline. The reality is, though, that stocks are only back to where they were a little more than a month ago. “That is not much of a discount when you consider that the S&P 500 was […]

Major Singapore Bank To Suspend Lending For London Properties Over EU Leave Vote

Major Singapore Bank To Suspend Lending For London Properties Over EU Leave Vote

Singapore’s third-biggest lender has suspended new loans for the purchase of London properties as the aftershocks of Britain’s vote to leave the EU are felt around the world. United Overseas Bank said it would “temporarily stop” issuing the loans because of heightened uncertainty following the Brexit decision. “As the aftermath of the UK referendum is […]

South Africans Are Queuing Up For Famous Brands. But Can They Afford To?

South Africans Are Queuing Up For Famous Brands. But Can They Afford To?

A QUEUE snaked through the first Starbucks shop south of the Sahara, winding out of the door and down the block. It greeted the American coffee chain’s boss, Howard Schultz, when he visited the Johannesburg store for the first time recently. “I have been to many, many Starbucks openings around the world,” Howard Schultz marvelled. […]

Investors Are Flocking To Gold And Other Safe Havens After Brexit Vote

Investors Are Flocking To Gold And Other Safe Havens After Brexit Vote

As global markets plummeted on Friday after the United Kingdom voted to leave the European Union, investors sought shelter where they could find it. There was a stampede into so-called safe haven assets, including gold, government bonds and certain currencies. The “Brexit” decision stunned investors around the world, and led to a flurry of overnight trades […]

Energy Investors’ Big Plans For Africa

Energy Investors’ Big Plans For Africa

TWO major investors in infrastructure projects in Africa — Harith General Partners and Africa Finance Corporation (AFC) — are merging assets in five countries into a joint venture that is set to become a major power player on the continent. The new vehicle, which plans to seek a stock exchange listing in three to five […]

Transforming Africa – The Tony Elumelu Foundation Releases Documentary of TEEP’s Groundbreaking First Year

Transforming Africa – The Tony Elumelu Foundation Releases Documentary of TEEP’s Groundbreaking First Year

The Tony Elumelu Foundation (TEF) announces the digital release of the documentary film Tony Elumelu Entrepreneurs: Transforming Africa. The film tells the story of the Tony Elumelu Foundation Entrepreneurship Programme (TEEP), the Foundation’s decade-long commitment of $100 million to empower 10,000 entrepreneurs from all of Africa, to create jobs and generate wealth. TEF Founder, Tony […]

Nigerian Naira Tumbles 30 percent After Peg Removed

Nigerian Naira Tumbles 30 percent After Peg Removed

Nigeria’s naira slumped 30 percent against the dollar on Monday after the central bank removed its currency peg in an effort to alleviate the chronic foreign currency shortages choking growth in Africa’s biggest economy. The central bank sold $530 million for 280 naira per dollar at a special auction and later sold a further $86.5 […]

World’s First Tea Futures Contracts May Be Started in Kenya

World’s First Tea Futures Contracts May Be Started in Kenya

Kenya, the world’s biggest exporter of black tea, is considering introducing the world’s first futures contracts for the leaves to help stabilize prices and enable growers to guarantee income from their production. INTL FCStone Inc., based in New York, has held talks with industry representatives in the East African nation about introducing the derivatives, Stuart […]

Africa Has a Problem With Cold Storage; Costing It Almost Half Of Its Perishable Harvests

Africa Has a Problem With Cold Storage; Costing It Almost Half Of Its Perishable Harvests

Africa has to prioritise investing in cold storage to prolong harvest life and ensure the benefit of the value chain is felt by the continent. Forty per cent of perishables harvested in Africa are lost before reaching the consumer creating a loss for farmers and the agriculture industry; with cold storage initiatives this lifespan can […]