Tanzania Power Issues Casts Shadow on $12 Billion Debt Plan

 For investors considering financing Tanzania’s proposed 27.6 trillion-shilling ($12.3 billion) borrowing program, the government’s handling of its power utility’s debt problems may give pause for thought. Last month, President John Magufuli fired the Tanzania Electric Supply Co.’s chief executive officer and vetoed its decision to raise electricity prices, ignoring International Monetary Fund advice that higher tariffs […]

Nigeria, Egypt and South Africa Listed Among World’s Most Powerful Economies by 2050

 Price water house Coopers published rankings of 32 future power economies by 2050.  Nigeria, Egypt and South Africa were forecasted to be in 14th, 15th ,27th most powerful economies in the world respectively. Now the report, takes into account the various nations’ projected gross domestic product by purchasing power parity. The report, titled “The long […]

Egypt’s Agricultural Export Surges On The Back Of Currency Float

 Egypt’s agricultural export is expected to grow by about 15 per cent in 2017 in comparison to 2.2 billion US dollars recorded last year. This growth has been attributed to the states decision to float its currency in November. The move has led to a surge in demand as the fruit and vegetables are now […]

Gambia’s New President, Adama Barrow, Pledges Sweeping Economic Reform

 Gambia’s President Adama Barrow vowed on Saturday to revive the country’s faltering economy with sweeping reforms as he sought to draw a line under the erratic 22-year rule of his predecessor. Barrow was sworn into office a month ago during a brief exile in Senegal as Yahya Jammeh refused to accept his defeat in a […]

Egyptian Pound Strengthens on Weaker Dollar Demand from Importers

 The Egyptian pound strengthened on Sunday, reaching a three month high, as importers’ demand for dollars at banks eased, bankers told Reuters on Sunday. Banks were selling dollars at around 15.8 pounds per dollar on Sunday, stronger than Thursday’s rate of around 16 per dollar. The central bank floated the currency and raised base interest […]

United States to Invest $1 Billion in Nigeria’s Power Sector

 Few days after the United States, US, President, Donald Trump, called his Nigerian counterpart, Muhammadu Buhari, an initiative of the US country to light up Africa, ‘Power Africa,’ says it’s planning to invest about one billion dollars on the power sector in Nigeria. This was disclosed by the programme’s Coordinator, Andrew Herscowitz while addressing a […]

Smart Education Initiative – Kaduna State Purchases 10,000 Tablets For Students

 Governor Nasir El-Rufai has disclosed that the Kaduna State government is purchasing 10,000 tablets loaded with educational material for its students. El-Rufai, who announced this when Exxon-Mobil Mobil donated 5,000 Samsung tablets to the Kaduna State government, said the government conceived the initiative to improve learning outcomes and ensure that young students are made familiar […]