The NCC says the industry has created over 500,000 formal and informal jobs for Nigerians between 2001 to 2022. The Nigerian Communication Commission (NCC) says the telecommunication industry has recorded over $70 billion investment in the past 21 years. The Executive Vice Chairman of the NCC, Umar Danbatta, said this on Tuesday at the Cyberchain […]
Tag: Investment
Nigeria is the leading African destination for foreign direct investments in technology startup businesses. Between 2015 and 2022, Nigerian technology startups have secured funding totalling just over US$2 billion. This is the highest amount of funding recorded by any country in Africa. The “big-four” countries of Nigeria, Egypt, South Africa and Kenya, are leading Africa’s […]
Investment in renewables must more than triple to $1.3 trillion annually by 2030 if the world is to reach net-zero emissions by 2050, the International Energy Agency (IEA) has said in a report. Previously, the agency had estimated that clean energy would need $1 trillion in annual investment to reach the climate goals. In the […]
DRC President Felix Tshisekedi has made his second visit to Tanzania, where he signed bilateral deals for regional infrastructure works to increase connectivity and improve the ease of doing business. DRC President Tshisekedi and Tanzania’s President Samia Suluhu have met on several occasions and, among other things, agreed to revive a joint commission on bilateral […]
The federal government has declared that it would take 30 years of consistent investment for the flood menace to be controlled in Nigeria. Minister of Water Resources, Suleiman Adamu, who made the this known yesterday, while briefing newsmen after the weekly Federal Executive Council (FEC) meeting presided over by Vice President Yemi Osinbajo at the […]
Nigeria and the Kingdom of Belgium have mapped out ways to strengthen the existing bilateral relations between both countries especially to boost trade and investment. Indications to this development emerged when a Belgian trade delegation led by the Belgian Ambassador to Nigeria, Stephen De Loecker, paid a visit to the Nigerian Minister of Foreign Affairs, […]
Abidjan, Ivory Coast — A coalition of civil society organisations is demanding public development banks (PDBs) to take radical and innovative steps to tackle human rights violations and environmental destruction. No project funded by PDBs should come at the expenses of vulnerable groups, the environment and collective liberties, but should instead embody the voices of […]
The director of Market Operations at Mozambique’s utility company Electricidade de Mocambique (EDM), Luis Ganje, says that the government is mobilising investments to build new power-generating projects to meet the huge energy demand in the region. Ganje, who was speaking to the press in Maputo on 11 October on the sidelines of the 59th General […]
The federal government in nine months of 2022 raised a sum of N2.44 trillion through the FGN bond market to finance N6.26trillion 2022 budget deficit, the Debt Management Office (DMO) FGN Bond auction results in nine months of 2022 has revealed. THISDAY analysis of the auction results revealed that investors oversubscribed N3.65trillion out of N1.86 […]
President Cyril Ramaphosa has told the South Africa – Saudi Arabia Investment Forum that trade relations and investment between the two countries can increase “much further” over the course of the next few years. The President is on an official state visit to Saudi Arabia aimed at strengthening economic ties, with the investment forum in […]
Tech startups in Nigeria are hopeful for expansion following the federal government’s plan to increase investments in the e-commerce sector to $75 billion by 2025. The minister of Industry, Trade and Investment, Otunba Niyi Adebayo, at a recent stakeholders’ meeting on E-commerce and Digital Trade Policy for Nigeria, stated that the inherent opportunities in the […]
The Minister of the FCT, Malam Muhammad Musa Bello, has highlighted potential areas of investment in the FCT that will add value to the nation’s capital and ensure adequate returns for investors. The areas include road, rail and power infrastructure, as well as agriculture and waste management. The minister highlighted these when he received a […]
Lusaka — Zambia is hosting a two-day business summit in Lusaka this week to try to attract American investors to the country. Zambian officials say they want to diversify the economy and decrease dependence on extractive industries such as copper, which account for most of the country’s exports. Zambia’s Commerce Minister Chipoka Mulenga said the […]
Why is trade and business investment in Africa considerably low despite the continent’s potential for huge returns across almost every sector? At the risk of being wrong, the single reason that is deterring investment in Africa is a four-letter word, risk or rather, the lack of risk mitigation. Risk creates fear for investment in Africa, […]
The Oti Regional Minister, Joshua Gmayenaam Makubu, has appealed to the investor community to turn their attention to his region as it possesses huge investment opportunities. According to him, the Oti Region was ready for investment and the time had come for the investor community to turn their attention to the area. “The large tract […]
Some members of the organised private sector (OPS) have faulted the recent attack on the Dangote Cement plant at Obajana in Kogi State. In separate statements made available to Vanguard over the weekend, the Lagos Chamber of Commerce and Industry (LCCI) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) said […]
Eritrea has historically struggled to attract large investments because of its unfavourable business climate including corruption, strong state control over currencies, legal uncertainty, an arbitrary judicial system, and a low-skilled labour force drained by mass migration. Having one of the most erratic economies in the world, partly due to chronic drought and highly variable agricultural […]
The Department of Public Enterprises (DPE) has welcomed the Western Cape High Court judgment on Monday, dismissing with costs Toto Investment Holdings’ application to halt the sale of South African Airways (SAA). Toto approached the court in a bid to force Public Enterprises Minister, Pravin Gordhan, and the DPE to make records of the sale […]