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Interbank rate drops further on increased liquidity

Interbank rate drops further on increased liquidity

The nation’s overnight interbank lending rates fell further on Monday to 4.25 per cent, almost two weeks after it rose significantly to 13 per cent. The overnight placement had risen sharply to around 13 per cent about two weeks ago after the Central Bank of Nigeria withdrew about N400bn from the banking system to meet […]

Africa sugar growers are unprepared for EU import quota end – infrastructure is the killer

Africa sugar growers are unprepared for EU import quota end – infrastructure is the killer

TRADE barriers and poor infrastructure are preventing sugar producers in sub-Saharan Africa from accessing under-supplied regions on the continent as an imminent end to import quotas in the European Union compels them to find new markets. A preferential-access deal with the EU for African, Caribbean and Pacific sugar producers ends in September 2017, potentially depriving the […]

ECA Regional Integration Report Calls for Greater Focus on Human Capital, Science and Technology

ECA Regional Integration Report Calls for Greater Focus on Human Capital, Science and Technology

Addis Ababa — Most African countries agree that regional integration is a goal which they should all aspire to, in order to foster inclusive and sustainable economic growth and development. The report Assessing Regional Integration in Africa VII: Innovation, Competitiveness and Regional Integration (ARIA VII) launched on 2nd April during the African Development Week states […]

2016 Risks Becoming The Year Of All Dangers For Africa

2016 Risks Becoming The Year Of All Dangers For Africa

For the past three weeks, most of the news coming from Africa has been negative. Dramatic images of terrorist attacks in Ivory Coast and Mali played out on TV, as did national elections in Niger, Benin and Congo, held in a climate of popular resentment and very low turnout. However, this is only the tip […]

Saudis to take control of largest U.S. refinery

Saudis to take control of largest U.S. refinery

Click here for video The crown jewel among America’s oil refiners may soon be owned by Saudi Arabia. Saudi Aramco, the state oil company of OPEC’s most powerful player, recently announced plans to take full control of the sprawling Port Arthur, Texas refinery. The Gulf Coast facility is the largest refinery in the U.S. and […]

GE Brings Solar Power to Nigerian Noodle Company

GE Brings Solar Power to Nigerian Noodle Company

GE Collaborating with Tolaram Group to Provide Solar/Diesel Hybrid Power for Local Noodle Factory Project will Reduce Diesel Fuel & Emissions by 18 Percent First Installation of GE’s Solar Hybrid Technology in Africa GE (NYSE: GE)  announced it will supply Northern Noodles Ltd., a subsidiary of DUFIL and Tolaram Group, with solar technology to reduce […]

Panel On Women’s Economic Empowerment Holds First Meeting At UN

Panel On Women’s Economic Empowerment Holds First Meeting At UN

The High-Level Panel on Women’s Economic Empowerment has held its inaugural meeting at the United Nations Headquarters in New York, where the 60th session of the Commission on the Status of Women is underway this month. Addressing a room of prominent leaders from government, business, academia and civil society, Secretary-General Ban Ki-moon said the group […]

Women Can Power Alternative Energy Solutions for Africa

Women Can Power Alternative Energy Solutions for Africa

Sub-Saharan Africa is changing rapidly. New infrastructure, economic development and urbanisation are transforming society. Poverty is declining, and the middle class is growing. Yet two-thirds of the population – more than 600 million people – still lack access to electricity, and more than 700 million cook with traditional biomass: Wood, charcoal, dung and agricultural residues, […]

South Africa’s MTN offers $1.5 bln to settle Nigeria fine

South Africa’s MTN offers $1.5 bln to settle Nigeria fine

South African telecoms firm MTN Group has offered $1.5 billion to settle a much larger fine from Nigerian regulators for missing a deadline to disconnect unregistered SIM card users, a document seen by Reuters shows. Africa’s biggest mobile phone group has been in talks with Nigerian authorities to have the $3.9 billion penalty reduced and […]

Moody’s to visit South Africa next week to decide on ratings: Treasury

Moody’s to visit South Africa next week to decide on ratings: Treasury

Ratings firm Moody’s will visit South Africa next week to decide whether to downgrade the credit status of Africa’s most industrialised economy to just one notch above sub-investment grade, the Treasury said on Wednesday. South Africa’s Finance Minister Pravin Gordhan told local station Radio 702 that Moody’s informed him of their decision during his stop […]