Nigeria: Forex Crisis Hits Fuel Importers, N145 Per Litre No Longer Sustainable


 After months of struggling to sustain fuel imports under the current foreign exchange regime, the Nigerian National Petroleum Corporation (NNPC) finally admitted monday that the sale of petrol at the current market price of N145 per litre was unsustainable due to the prevailing exchange rate. NNPC also admitted that despite the preferential exchange rate made […]

Nigeria Welcomes Chinese Investors For $5.5 Billion Oil Deal


 10 Chinese investors are expected to arrive Abuja today to hold discussions on the $5.5 billion investments in the oil and gas sector. The delegation will comprise officials of China North Industries Corporation (NORINCO) and Tiger Jade, the investment arm of NORINCO. Their visit, it was learnt, is a follow-up to the roadshow embarked upon […]

How $15 Billion India Oil Deal Will Help Nigeria Tackle Forex Crisis


 The Nigeria-India upfront oil payment deal will help the Federal Government to tackle the foreign exchange (forex) crisis in the country.The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, initiated the deal during a three-day working visit to India. The success of the deal would also be a huge help for the Central Bank […]

IMANI Backs Privitisation Of Ghana’s Electricity Company


 IMANI Ghana, a policy think tank, has backed calls for the privatisation of the Electricity Company of Ghana (ECG) to inject capital and innovations in electricity distribution in the country. It said the privatisation of ECG was the only way government could address the challenges facing the energy sector. The Head of Business of IMANI […]

Center for Free Market Enterprise Wins 2016 Smith Student Outreach Award


  Center for Free Market Enterprise are the 2016 Smith Student Outreach award winners. The award was received by CFME Programs Director Mr Pilirani Banda in Miami, Florida, USA. Established in September 2014, CFME was founded by Peter Yakobe and Pilirani Banda young Malawians who are passionate about Economic development of Malawi and Africa as […]

Kenya’s Largest Solar Plant Inks Power Sale Deal With Chinese Firm


 East Africa’s largest solar power plant in northern Kenya is set to add cheap power to the national grid for onward sale to homes and businesses. The Rural Electrification Authority (REA), which is developing the plant, has signed the power purchase agreement (PPA) with Kenya Power to sell electricity from the Sh13.7 billion solar plant […]

Congolese Mining Sector Beset By Uncertainty And Political Instability

De Beers Rough Diamond Move

  Franck Mwinkeu, logistics manager at Global Mining Katanga in the Democratic Republic of Congo (DRC), laments the impact political and economic conditions have had on the mining sector. He says that “the political system” in the DRC has forced mines to close in recent years. Despite initiating a wealth of infrastructure and investment reforms […]

Liberians Reject New Banks Notes Introduced By The Central Bank


 Barely a week after the Government of Liberia through the Central Bank of Liberia (CBL) released the new banknotes to the public; several Liberians are expressing unhappiness over the lack of adequate awareness on the new money across the country. The new banknotes are in categories of 5.00, 10.00, 20.00, 50.00, 100.00.00 and 500.00 with […]

World Bank Has Pledged $1 Billion To Support Agriculture In Africa


 The World Bank has pledged US$1billion to support the agriculture sector in sub-Saharan Africa. The amount, according to the World Bank Director for the Africa Region External Communication (AFREC), Haleh Bridi, represents an increase from US$700 million since 2006. A dispatch from the World Bank quoted Bridi as announcing the pledge at the celebration of […]