Image
11-May-2023

Africa’s Business Heroes Organisers Extend Deadline for More Entries

By Adedapo Adesanya Africa’s Business Heroes (ABH) Prize Competition, a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy, has extended its deadline for entries to May 17, 2023. In a statement on Thursday, the organisers said the extension had been made in response to the strong level of interest from entrepreneurs across the continent. ABH aims to identify, support and inspire the next generation of African entrepreneurs who are making a difference in their local communities by working to solve the most pressing problems and building a more sustainable and inclusive economy for the future. The new

Image
11-May-2023

Our Decarbonization Targets Anchored on Sound Investments—Eni

By Kestér Kenn Klomegâh An Italian multinational energy giant headquartered in Rome, Eni, has emphasised that its decarbonization targets would be anchored on sound investments, reaffirming its commitments towards net zero emissions by 2050. The company said this in its latest 2022 report, which outlined the main outcomes and objectives in the energy transition pathways for a number of African countries. Eni described its contribution to a just transition that ensures access to efficient and sustainable energy, sharing the social and economic benefits of the path towards net zero emissions by 2050 with employees, suppliers, communities, and customers with an

Image
08-May-2023

Central Region Sees Atlantic Lithium Powering Local Employment

Ghana’s May Day is a public holiday honouring workers and their contribution to the country’s development. Central Region marked the occasion by holding a unique programme of celebratory events for the community at Saltpond Victoria Park in the Mfantseman Municipality. Lithium exploration and development company Atlantic Lithium Ltd. was a proud headline sponsor of the event, demonstrating its strong commitment to local community development through employment. Atlantic Lithium is advancing the Ewoyaa Project, a significant lithium spodumene concentrate discovery on track to become Ghana’s first lithium-producing mine. Over 95% of the company’s employees are Ghanaian, many of which are from

Image
08-May-2023

OAG Convicts SICPA SA of Corporate Criminal Liability

By Modupe Gbadeyanka A Swiss security company, SICPA SA, has been convicted of corporate criminal liability in connection with acts of corruption and has been directed to pay CHF 81 million. With the penalty order issued in accordance with Art. 102 para. 2 SCC in conjunction with Art. 322septies SCC, SICPA has acknowledged that it failed to take all necessary and reasonable organisational precautions to prevent bribes to foreign public officials. It was gathered that SICPA and its former employee have declared that they will not be appealing against the penalty orders, which will be legally binding. According to reports,

Image
05-May-2023

World Food Prices Jump in April

By Adedapo Adesanya The prices of food rose globally in April as a result of increases in sugar and meat, according to the UN Food and Agriculture Organisation (FAO), which said the Price Index (FFPI) averaged 127.2 points in the period, 0.8 points (0.6 per cent) higher than March and standing 31.2 points (19.7 per cent) below its value in the corresponding month last year. The slight rebound was led by a steep increase in the sugar price index, along with an upturn in the meat price index, while the cereals, dairy and vegetable oil price indices continued to drop.

Image
03-May-2023

Time to Clarify What African Leaders Want from Russia

By Kestér Kenn Klomegâh From various interpretations, Russia is taking advantage of the past Soviet-era connections, Africa’s growing dissatisfaction and disappointment with the Western world, but its economic influence remains marginal compared to other key foreign players. Despite the fact that Western and European are experiencing falling influence, they are still far ahead of Russia, especially considering its global status. China is the main player in the continent. Russia has sought to convince African leaders, the elites and the middle class over the past years of the likely dangers of neocolonial tendencies perpetrated by the former colonial masters and the

Image
01-May-2023

Afreximbank Sweeps Seven Awards at ESG Capital Markets Africa Awards

By Adedapo Adesanya  The African Export-Import Bank (Afreximbank) went home with seven awards at the Bonds, Loans & ESG Capital Markets Africa Awards 2023 held recently. The awards, launched in 2015, promote the importance and sophistication of Africa’s financial services sector and its pivotal role in accelerating economic development on the continent. Afreximbank’s success at this year’s awards reflects its increasingly well-established leadership position in the loan and debt capital markets on the continent across the main industry sectors. The 8th Annual Bonds, Loans & ESG Capital Markets Africa Awards recognised and showcased the most innovative and groundbreaking deals from

Image
27-April-2023

Boosting Global Trade Amidst Current Economic Slowdown

Trade is crucial to bridging economic gaps and boosting infrastructural development. Countries with strong international trade portfolios tend to grow faster, innovate more, and provide higher incomes and economic opportunities for their citizens. Beyond the integration into the global economy through trade and global value chains that help drive economic growth, open trade also benefits low-income households by allowing consumers to access affordable goods and services. However, the impact of Russia’s war in Ukraine has been felt by people far beyond the country’s borders, due in part to its effects on trade-in – and the prices of – foodstuff and

Image
27-April-2023

Report Offers Insightful Strategic Directions for Russia Towards Africa

By Kestér Kenn Klomegâh Several reports have criticised aspects of Russia’s policy, further identified pitfalls, and highlighted challenges and approaches toward Africa, even after its first symbolic summit in October 2019. The latest report titled ‘Ways to Increase the Efficiency of Russia’s African Strategy under the Crisis of the Existing World Order’ (ISSN 1019-3316, Herald of the Russian Academy of Sciences, 2022), co-authored by Professors Irina O. Abramova and Leonid L. Fituni, both from the Institute for African Studies (IAS), Russian Academy of Sciences. According to authoritative sources, aspects of this report were presented at the RAS Presidium on February

1 2 3 4 5 6 7 8 9 10 11 12
Ad
Ad
Recent Stories
Image
01-October-2023

Boosting Website Performance: Tips for Speed and Efficiency

By Rahul Baitha In today’s digital age, where instant gratification is the norm, website performance plays a critical role in delivering a positive user experience. Visitors expect websites to load quickly and respond seamlessly to their interactions. If your website lags or stumbles, you risk losing valuable traffic and potential customers. As a web designer or business owner, optimizing your website’s performance should be a top priority. In this comprehensive guide, we’ll explore essential tips and techniques to boost your website’s speed and efficiency. Understanding Website Performance Before diving into optimization strategies, it’s essential to grasp the fundamentals of website

Image
01-October-2023

NDLEA Nabs Suspected Kingpin in UK Drug Export Bust

By Adedapo Adesanya The National Drug Law Enforcement Agency (NDLEA) has arrested a suspect wanted for attempts to ship illicit drug consignments to the United Kingdom. This was made known in a statement signed by the NDLEA spokesman, Mr Femi Babafemi, on Sunday. He further disclosed arrests made by NDLEA operatives through interdiction operations that led to the seizure of four tons of illicit substances in the past week. According to the agency, the suspect, Mr Obiorah Chigozie, had been on its wanted list since September 15. This, he said, was when a consignment of 1.500kg skunk concealed in flour

Image
01-October-2023

BUA Cement Slashes Ex-Factory Prices to N3,500

By Aduragbemi Omiyale The management of BUA Cement Plc has announced a reduction in the prices of its cement from its factory without the transportation costs to N3,500 per bag (50kg). The cement maker confirmed this development in a statement issued on Sunday, noting that it was part of efforts to make sure customers get the products at cheaper prices. In the statement, BUA Cement disclosed that the slash in cement prices is from Monday, October 2, 2023, urging its distributors not to fleet the end users. The firm said, “All pending, undelivered orders which had been paid for at

Image
01-October-2023

NITDA Opens Applications for Tech Accelerator Fellowship

By Adedapo Adesanya The federal government through the National Information Technology Development Agency (NITDA) has opened applications for a tech startup accelerator fellowship program to empower Nigerians with innovative ideas. The Minister of Communications, Innovation and Digital Economy, Mr Bosun Tijani, said the preparations for the training commenced in August with a meeting of stakeholders in tech to co-create innovative ways to achieve the target. He added that the meeting was the first in a series of ecosystem engagements to ensure that the government gets the best solutions from within. The new initiative from the NITDA is part of the

Image
01-October-2023

Nigeria @ 63: Tinubu Promises Relief in First Independence Broadcast

By Adedapo Adesanya The President of Nigeria, Mr Bola Tinubu, has promised relief amid reforms that have increased hardships among Nigerians in his first Independence Day broadcast on Sunday. Nigeria is marking her 63rd Independence anniversary. Speaking during a brief broadcast, President Tinubu said his reforms, including fuel subsidy removal and unification of exchange rates, have come with some effects, which he admitted were painful but are needed. He announced that small businesses would get much support while an additional N25,000 would be given to low-income earners for six months to cushion the hardship. Mr also promised housecleaning at the

Image
30-September-2023

Mediacraft Associates Employees Get 25% Pay Rise

By Modupe Gbadeyanka The salaries of employees of Mediacraft Associates Limited, a leading Nigerian full-service Public Relations and Integrated Brand Communications Consultancy firm, have been increased by 15 and 25 per cent. This was confirmed by a statement from the organisation as it celebrates its 20th anniversary this year. It was disclosed that the gesture was to reward the efforts of the workers toward the growth of the company and to cushion the current hardships in the country due to the removal of petroleum subsidy. According to the chief executive of Mediacraft Associates, Mr John Ehiguese, the salary increase had

Image
30-September-2023

Are Audio Streaming Platforms in Your Marketing Mix? They Should be

By Mark Redguard Walk down the streets of any major city around the world and take a look at all the people you pass along the way. Chances are you’ll see more people wearing earphones and headphones, in all of their shapes and sizes, than not. Most of those people, whether they’re consuming music or podcasts, will be listening through an audio streaming platform. In fact, Spotify’s 500 million-plus users spent more than 132 billion hours streaming audio on the platform in 2022.  And that’s just Spotify. Factor in other platforms, including the likes of Mdundo and Audiomack, and the

Image
30-September-2023

Unlisted Stock Investors Grow Market to N1.105trn

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.38 per cent on Friday, September 30, with N4.16 billion added to the value of the bourse, closing at N1.105 trillion compared with Thursday’s value of N1.101 trillion. The market witnessed the improvement a day after the shares of VFD Group were yanked off the trading platform, with the NASD Unlisted Securities Index (NSI) closing higher by 3.06 points to settle at 815.65 basis points versus the previous day’s 812.59 basis points. There were three gainers led by FrieslandCampina Wamco Nigeria Plc, which improved by N1.31 to close at

Image
30-September-2023

Naira Appreciates on Dollar Across FX Market Segments

By Adedapo Adesanya The Naira appreciated against the US Dollar in the Investors and Exporters (I&E), the Peer-to-Peer (P2P), and the black market arms of the foreign exchange (forex) market on Friday, September 29, as a turbulent third quarter ended. In the official segment, the local currency improved its value against the greenback by 2.6 per cent or N20.04 to close at N755.27/$1, in contrast to the preceding day’s N775.31/$1 amid a drop in the supply of FX into the system by 11.6 per cent or $16.73 million to $127.82 million from the $144.55 million published on Thursday. In the

Image
30-September-2023

Brent, WTI Shrink on Macroeconomic Worries, Profit Taking

By Adedapo Adesanya The prices of Brent futures and the US West Texas Intermediate (WTI) futures went down by about 1 per cent on Friday, due to macroeconomic concerns and sustained profit-taking. Data showed that Brent fell by 7 cents to $95.31 per barrel and WTI depreciated by 92 cents to $90.97. Prices rose about 30 per cent in the third quarter of the year helped by the production cuts by the Organisation of the Petroleum Exporting Countries and allies (OPEC+). This action squeezed global crude supply. Brent was about 2.2 per cent in the week and 27 per cent