Africa PPP Conference Holds October In London

By Professor Maurice Okoli Over the past few years, African Union, the continental organization, has made intra-African trade its newest flagship and has created the Intra-African Trade Fair (IATF), which provides a unique and valuable platform for potential investors to support the continent’s transformation through industrialisation and export development, for businesses to access adequate trade and market information, and operate in an integrated single African market of over 1.4 billion people with a combined gross domestic product of over $3.5 trillion under the African Continental Free Trade Area (AfCFTA). Organized by the African Export-Import Bank (Afreximbank), in collaboration with the

By Kestér Kenn Klomegâh Russian language study is hitting magnificent roadblocks in Africa. For several years after the Soviet collapse, Moscow has been stepping up efforts to strengthen Russian language study and its culture across Africa. But there have been few tangible results largely due to low motivation towards the language, its usefulness is blurry compared to other foreign languages including French, English language and now Chinese. In the previous years, there has been an increasing concern about Russia’s extremely low presence in Africa. Russia’s initial interest was to become part of Europe and construct business ties from Lisbon to

By Adedapo Adesanya The Nobel Committee has awarded the 2023 Nobel Peace Prize to jailed Iranian activist, Ms Narges Mohammadi, for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all. In a statement announced on Friday, Ms Mohammadi was recognised for her brave struggle which has seen her arrested 13 times, convicted five times, and sentenced to a total of 31 years in prison and 154 lashes. As of the moment of her recognition for the prize, Ms Mohammadi is still in prison after her role in the largest

By Kestér Kenn Klomegâh South Africa prepares to host the African Growth Opportunity Act (AGOA) forum to review critical challenges and obstacles adversely impacting trade opportunities and economic cooperation between the United States and Africa. The United States first introduced the African Growth and Opportunity Act (AGOA) in 2000. It is the 20th AGOA forum scheduled from November 2 to 4 in Johannesburg, South Africa. The AGOA Trade and Economic Cooperation Forum seeks to expand and deepen trade and investment relationships between the United States and Sub-Saharan Africa. It also encourages regional integration and further reaffirms Africa’s position as a

By Modupe Gbadeyanka The federal government is having discussions with the management of Facebook concerning its updated WhatsApp privacy policy. WhatsApp, owned by Facebook, had earlier asked users of the popular messaging platform to accept its updated terms and conditions as well as its privacy policy, on or before February 8, 2021, or be kicked out. This development caused outraged and forced the company to suspend the deadline and moved the new implementation date for the acceptance of its new terms and conditions to May 15. WhatsApp boasts of over 2 billion users, but the update caused some users to

By Adedapo Adesanya Global mobility and urban services platform, inDrive, has launched a new venture and merger and acquisition (M&A) arm to invest up to $100 million in promising startups. This was disclosed in a statement seen by Business Post on Thursday. The firm added that the new subsidiary would be headed by a seasoned entrepreneur and investment professional, Mr Andries Smit, who joins inDrive as Vice President of New Ventures. New Ventures Investments, as the new arm is called, will focus on rapid growth and reduce positive community impact with investments spread on companies tackling injustice and improving the

By Adedapo Adesanya The volume of crude oil export from Nigeria to the United States of America rose by 25.3 per cent or 1.4 million barrels in the second quarter of this year. This was contained in the latest data from the US Energy Information Administration (EIA), which showed that the largest crude producing country in Africa exported a total of 6.93 million barrels of crude oil in the quarter, up from 5.53 million barrels in the first three months of the year. The US had previously lowered its oil imports from Nigeria due to a boost in shale oil

By Dipo Olowookere Global news provider, TMT Finance, has disclosed that an urgent requirement for new investment into telecom and broadband infrastructure in Africa is driving a fresh flurry of mergers, acquisitions, IPOs, investment and financing activity, as the region’s key players jostle for position to meet the soaring demand for data across the continent. EMEA Editor of TMT Finance, Mr Joseph d’Arrast, stated that, “The continent’s growth in the digital economy and the rising demand for data is helping to boost investor confidence in major broadband projects, of which there are many currently underway or in the pipeline. “In

By Aduragbemi Omiyale Access Bank has announced that from January 2023, customers who require foreign exchange (FX) allocation for Personal Travel Allowance/Business Travel Allowance (PTA/BTA) would only get approval twice a year, though subject to availability. The lender disclosed this information in a notice to its customers over the weekend to inform them of changes to its forex allocation. In the emailed message, which was obtained by Business Post, the bank further said for the rest of this year, customers can still have their PTA/BTA requests honoured as long there is FX to allocate to them. Access Bank said the

By Dipo Olowookere Lafiaji Football Club has emerged the overall winner of the 2018 Oba’s Cup, which came to an end on Monday, October 22, 2018. The Oba’s Cup is a football competition inaugurated by Dr Kennedy Okonkwo, to celebrate the 25th coronation anniversary of Oba Tijani Adetunji Akinloye, the Sateru ӏӏ, Ojomu of Ajiranland. The competition kicked off on September 22, 2018 and had several football clubs in the area participating. The monarch, who congratulated all winners and participating teams in the competition, thanked the organiser for using the platform to foster the spirit of sportsmanship among the youths

By Modupe Gbadeyanka Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed bearish on Friday with profit taking witnessed at the market. Business Post reports that the equity market depreciated by 0.14 percent just as the year-to-date returns dropped to 6.72 percent. At the close of business yesterday, the All-Share Index (ASI) reduced by 59.20 points to settle at 40,814.89 points, while the market capitalisation declined by 21.4 billion to finish at 14.743 trillion. It was observed that the volume and value trades recorded at the market depreciated on Friday with a total of 242.3 million equities

By Modupe Gbadeyanka Airtel Nigeria has entered into a strategic and exclusive partnership with the Kaduna State Government for the deployment of broadband services and fibre network across the state. The deal allows the leading telecommunications service provider to immediately commence the project with a timeline of upgrading 3G services across the entire state by end of 2022 and also deploying 4G services across key cities in the state specifically in Kaduna, Kafanchan and Zaria. The project scope also includes the deployment of a fibre network across the entire state. “Today marks an important milestone for all of at Airtel