News from across Africa covering business, markets, policy and development in North, West, East, Central and Southern Africa.
Chairman of Heirs Holdings, Mr Tony Elumelu, has proposed N50 million as capital base for insurance broking firms operating in Nigeria. Elumelu, who is also founder, Tony Elumelu Foundation, said …
The Association of Licensed Telecommunications Operators of Nigeria says banks’ Unstructured Supplementary Service Data (USSD) debt has increased to N80 billion from N42 billion reported in 2021. The President of …
The US Customs and Border Protection agency says it has seized a large quantity of deadly fentanyl in a shipment from South Africa it detained on 21 September. In total, the fentanyl …
Employees of troubled South African power company Eskom have been awarded a further 1.5% wage increase, backdated to July 2021. The Commission for Conciliation, Mediation and Arbitration (CCMA) ruled on Thursday (29 …
African Export-Import Bank (Afreximbank) today announced the commercial launch of Afreximbank Trade Payment Services also known as “AfPAY” to facilitate international trade between African financial institutions and their clients. The …
Chipper Cash, an African cross-border payments company, has received authorization from the Bank of Ghana (BoG) to provide remittance services from the United States of America to the country. The …
National Treasury has banned global consultancy firm Bain & Co. from tendering for public sector contracts for a period of 10 years, citing fraud. “The effective date of restriction is …
Wiocc Group, a leading digital connectivity and infrastructure provider in Africa, has secured a US$30-million (R540-million) equity investment from the International Finance Corporation (IFC). The new investment will support WIOCC …
The Central Bank of Nigeria (CBN) has commenced deductions from accounts of defaulters under its development finance interventions to recover outstanding loans. Yusuf Yila, director, development finance of the CBN, said this …
The Lagos State government has suspended the planned implementation of ₦150,000 safety audit fees for tech hubs and co-working spaces. The fee comprises a ₦50,000 ($115.92) documentation fee and a …
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