AFRICAReports Banking and Finance News & Reports

Access Bank Promotes 800 Employees as it Transitions to Holdco Structure

Access Bank PLC has announced the promotion of 800 employees following a transparent and robust performance management review in line with global best practices.  This announcement comes as the financial giant shores up its transition to a Holding Company (Holdco) starting May 1st, 2022. The Bank’s consistent growth over the years has been due to …read more →

AFRICAReports Economy Infrastructure News & Reports

Peer Review: AU Rates Nigeria High in Infrastructure, Agric Revolution

The African Union Development Agency-New Partnership for Africa’s Development (AUDA-NEPAD) says Nigeria recorded tremendous successes in infrastructure development and agricultural revolution during the African Peer Review Mechanism (APRM). Princess Gloria Akobundu, Chief Executive Officer of AUDA-NEPAD, said this at a news conference in Abuja on Thursday. Akobundu said that the country also recorded successes in …read more →

AFRICAReports Banking and Finance Economy News & Reports WORLDReport

Fitch Says Rising Sovereign Debt Could Hit Ratings in Sub-Saharan Africa

A rise in government debt/GDP would be a potential negative rating action trigger for most sub-Saharan Africa (SSA) sovereigns, particularly those whose ratings are on negative outlook, said Fitch Ratings. “Efforts to contain COVID-19 outbreaks have hurt economic activity, weighing on tax revenues, even as public expenditure pressures have risen with demands for additional healthcare …read more →

AFRICAReports ENERGY Infrastructure News & Reports Technology

Green Hydrogen: The New Energy Frontier in Africa

The 2015 Paris Climate Agreement, which seeks to limit global increase in temperatures to less than 2°C this century, was signed by 195 countries, 33 of which are African. To achieve this ambitious target, significant carbon emission reductions and energy efficient systems are required. As part of the agreement, countries have set out a range …read more →

AFRICAReports ENERGY Infrastructure News & Reports WORLDReport

EGYPS 2022: ‘Natural Gas is the Fuel for Sustainable Development’

Doha — As the global population edges towards the 10 billion mark by 2050 and world GDP more than doubles, natural gas will continue to play a crucial role in alleviating energy poverty, fueling economic growth, expanding prosperity, and contributing to the protection of the environment, according to Mohamed Hamel, the Secretary General of the Gas Exporting Countries …read more →

AFRICAReports ENERGY Health Infrastructure Infrastructure Financing News & Reports Roads Transportation WORLDReport

EU Plans $22.7 billion Transport Network, Other Projects Across Africa

The European Union (EU) is working on a €20 billion ($22.7 billion) financing package to support African transport networks, as well as energy, digital, education and health projects to counter China’s reach in the continent. Member states, a Bloomberg report disclosed, however, have yet to commit to financing the infrastructure plans, according to officials familiar …read more →

AFRICAReports Banking and Finance Economy Infrastructure Infrastructure Financing News & Reports Technology Telecom

With National Policy on 5G, ABSA Sees Opportunity for Economic Growth in Nigeria

Given the success recorded last December in the auction of the two slots in the 3.5GHz spectrum, in preparation for 5G technology rollout in Nigeria, coupled with the commitment of the federal government on 5G rollout this month, Absa, a leading pan-African Corporate and Investment Bank has said it is fully aligned with government’s aspiration …read more →

AFRICAReports Infrastructure News & Reports Technology Telecom

‘Africa Needs Smarter Investment in Digital Infrastructure’

Infrastructure is widely accepted as a fundamental limitation to growth in Africa. Governments in the region struggle to meet the basic needs of residents, including access to food, education, health, and livelihoods, much less invest in critical, reusable infrastructure that could provide long-term solutions to social problems. Philanthropy alone will not lead to the sustainable …read more →

AFRICAReports Infrastructure News & Reports Telecom

MainOne Expands Global Cloud Connect Services to Drive Business Digital Transition in W/Africa

MainOne, a leading provider of connectivity solutions for businesses in West Africa is empowering enterprises to adopt Cloud technology by connecting businesses across the region directly and privately to public cloud service providers. The MainOne Cloud Connect service ensures direct, secure, and reliable network connectivity between enterprise data centers or office locations and public cloud providers such …read more →

AFRICAReports ENERGY Infrastructure News & Reports Photo News

Dangote To Save Nigeria $9bn Annually – AfDB President Akinwumi Adesina

African Development Bank (AfDB) president Akinwumi Adesina has described the Dangote refinery and fertiliser plants as projects that would positively affect Africa’s economic growth and development. Mr Adesina noted that the projects could address Nigeria’s foreign exchange deficits and save about $9 billion yearly from petroleum products imports. Mr Adesina made the assertion on Sunday …read more →