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Nigerian agri-business firm signs $60m coffee development deal with Liberia
Nigerian agro-development company, JR Farm Group has signed a $60 million (about N81.6 billion) 20-year partnership deal on coffee production with the Liberian government. The agreement is expected to revitalise Liberia’s coffee sector, expand exports and benefit over 200,000 farmers,…
Elon Musk becomes world’s first trillionaire, as successful SpaceX IPO shoots net worth above $1.1trn
South African-born tech magnate, Mr Elin Musk has (on paper) become the world’s first trillionaire. The feat follows the businessman’s initial public offering (IPO) of his company, SpaceX’s shares soaring his net worth when it hit the stock market. The…
Kuwait bars Nigerians, 26 other nations from domestic jobs
Frank Okon Kuwait has introduced sweeping changes to its domestic worker recruitment policy, effectively excluding Nigeria and more than two dozen other countries from supplying labour to the Gulf state’s household services sector. Under a new circular issued by Kuwait’s…
Heirs Energies’ $750m deal wins global finance award
Frank Okon Heirs Energies Limited, Africa’s leading indigenous-owned integrated energy company, has earned international recognition after its landmark US$750 million dual-tranche Senior Secured Reserve-Based Lending (RBL) facility was named Best Oil & Gas Deal of the Year at the EMEA…
117 African firms listed on LSE as African investment in London tops £30m
Frank Okon No fewer than 117 African companies are now listed on the London Stock Exchange, more than on any other stock exchange globally, while African businesses have invested over £30 million in London through foreign direct investment in the…
EU slams €200m fine on Temu for sale of unsafe, illegal products
European Union (EU), through its Commission, has imposed a €200m fine on Chinese-owned online retail outlet, Temu over illegal products, including; dangerous baby toys and faulty chargers offered for sale on its platform. According to the EU’s European Commission, Temu…
Adesina appointed chairman, Botswana’s Diamonds for Development Fund, as Ooni hails Ex-AfDB boss
Former president of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has been appointed as the Chairman of the Botswana/De Beers Diamonds for Development Fund (DDF). In a statement, Monday, June 1, the Botswana government and De Beers Group, the…
Nigeria, AfDB sign $7bn deal on Integrated Aviation Transformation Programme
Nigeria and the African Development Bank (AfDB) have signed an agreement to formalise the $7 billion Integrated Aviation Transformation Programme (IATP) aimed at kick-starting reforms and unlocking large-scale financing for the aviation industry’s development across the continent. Minister of Aviation and…
Hormuz: IMF, World Bank, IEA warn of acute fuel scarcity
Amid escalating prices of petroleum products, as well as, the liquefied petroleum gas (LPG) across parts of Nigeria, and the rest of the world, leaders of the International Monetary Fund (IMF), World Bank and International Energy Agency (IEA) have warned of…
Crude oil market continues climb, amid Strait of Hormuz uncertainties
Global crude oil market remained volatile, Friday, amid uncertainties by investors over the inability of United States and Iran to reach a peace agreement that would allow shipping traffic to return to normal in the Strait of Hormuz. Brent crude futures…
