According to the document, the increase followed the approval by NERC. There is confusion among stakeholders in the power sector following the furore generated by the conflicting information put out about a resolution by the Nigerian Electricity Regulatory Commission (NERC) on tariff hike. A document marked 023/EKEDP/GMCLR/0025/2021, dated August 25, 2021 and signed by the […]
Tag: Business and Finance
Rwanda’s Ministry of Education order that schools repeat courses taught online during closure period could help contain rise in inequalities in education, educationists say. Learning institutions in Rwanda reopened on August 2 for the third term after the government lifted the 15-day lockdown on the capital Kigali and eight other districts. Despite the government, its […]
TRADE promotion agency, Zimtrade has urged local farmers to tap into the US$1,7 million Bambara nuts (nyimo/indlubu) export market covering countries like the USA, UK and the Netherlands among others. In a recent update, the agency said the global import bill of the product was just US$1.7 million in 2020, up from US$1.23 million in […]
A former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, recently said the federal government borrowed N15 trillion from the CBN. This was not the first time the federal government’s indebtedness to the CBN would be made public. The Governor of Edo State, Godwin Obaseki, told his state transition committee members some […]
When China launched its acclaimed reforms and opening programme in the late 1970s, part of the strategy was to encourage its enterprises to explore trade and investment opportunities abroad. Africa was one of the natural places Chinese companies set their eyes on. Africa was characterized by weak industrial chains, poor infrastructure connectivity and high levels […]
Wadi Halfa — Seven miners were killed when a gold mine collapsed in Northern State on Wednesday. People from the area told Radio Dabanga that the accident occurred in the mines east of Semna, 60 km south of Wadi Halfa. Twelve men, originally from West Bara in North Kordofan, were working in the mine when […]
Africa and Rwanda are ready and open for productive investment and trade which will serve as a pathway to prosperity and stability, President Paul Kagame has said. Kagame was speaking at the G20 Compact with Africa Summit hosted by German Chancellor Angela Merkel. The summit focused on increasing investment in Africa and addressing the COVID-19 […]
A major fire outbreak was averted early yesterday in Lagos when emergency agencies contained petroleum leakage from pipeline operated by the Nigerian National Petroleum Corporation, NNPC. The incident was blamed on the activities of pipeline vandals. “Upon arrival at the incident scene, Omoboriowo Street, Pipeline Bus Stop Igando-Ikotun Road, Igando, it was observed a very […]
Abuja — The federal government has commenced the implementation of the no work, no pay rule on striking doctors with effect from Monday August 2, 2021. In a letter dated Friday, August 27 and signed by the Director of Hospital Services Department in the Federal Ministry of Health, Dr. Adebimpe Adebiyi, it directed all the […]
The striking doctors have stuck to their guns, saying the government’s hard stance would not force them to suspend its almost one-month-old strike. The Nigerian government has instructed all major federal tertiary health institutions where members of the National Association of Resident Doctors (NARD) are currently on strike to implement the “no work, no pay […]
Nairobi — Three years ago, nearly every country in Africa agreed to be part of a continental free trade area intended to lower tariffs and boost economies. But the agreement has yet to be fully implemented because of restrictions stemming from the COVID-19 pandemic. The World Bank says the Africa Continental Free Trade Area Agreement […]
Public enterprises minister Leon Jooste says the government has paid N$1,6 billion to terminate a contract with an American company that leased aircraft to Air Namibia. Jooste said this in a statement on Friday. The national airline was forced to return the airract it was leasing after the government shut it down last year. Air […]
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African Adoption of Cryptocurrencies
If you read up on Bitcoin news , you will know Africa is swiftly experiencing a rapid economic revolution without the role of traditional centralized banks and finance policies. This silent crypto booming started shortly when most of the African country’s started to accept mobile money, Mpesa. Its monthly cryptocurrency transfers are about 55% over the […]
ADA was one of the best performing digital assets of the last few weeks, and the Cardano price has more than doubled in a very short time. However, the Ethereum price is also doing very well, and many Cardano investors have concerns if the coin often called “the Ethereum killer” will really be able to […]
It was a moment for the history books earlier this year in June. El Salvador officially became the first country in the world to accept Bitcoin as a legal tender. Since 2001, it has actually been the U.S. dollar that has been El Salvador’s legal tender, not the Salvadoran Colon. El Salvador is just one […]
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Nigeria’s Ravenous Ports
On average, container traffic at the Nigeria’s seaports stands at 822,868 annually. With N7.5 million required to clear and transport a 20-foot container, shippers pay a whopping N5.1 trillion to have their cargoes yearly. The revelation that Chinese shipping lines and their agents in Nigeria have introduced double charges on the handling of groupage containers […]
Liberia’s current debt stands at US$1.47bilion dollars, according to the Deputy Minister for Fiscal Affairs, Dr. Atty Samora P.Z. Wolokollie. He told journalists on Thursday, August 26, 2021 at the Ministry of Information, Culture and Tourism regular press briefing. He said, “the country’s total debt stock as at end February 2020 stands at US$1.47 billion […]
Gaborone — Mining giant De Beers and the National Geographic Society have announced a partnership to protect the waters and endangered animals of Botswana’s iconic Okavango Delta. The vast UNESCO World Heritage wetland is threatened by climate change and agricultural activities. The five-year project, “Okavango Eternal,” will see De Beers and National Geographic work with […]