AFRICAReports Economy News & Reports

AfDB to Assist African Countries Improve Their Data Management, Dissemination

The African Development Bank (AfDB), says it will assist African countries to improve their data management and dissemination through the provision of Open Data Platforms. According to AfDB, it will collaborate with the United Nations Economic Commission for Africa (UNECA), and the International Monetary Fund (IMF), to achieve this. To this end, the Bank said …read more →

AFRICAReports Economy News & Reports

Buhari Launches 2nd Country Review Report, Asks Counterparts in Africa To Adopt Peer Review

President Muhammadu Buhari on Tuesday in Abuja called on member states of the African Union (AU) to imbibe the culture of peer review and peer-to-peer learning for proactive and strong leadership in the continent. The President made the appeal at the launch of the Second Country Review Report (CRR) and the National Programme of Action …read more →

AFRICAReports Agriculture Banking and Finance Economy News & Reports

Development Partners Commit $30 Billion to Food Production in Africa

Development partners have committed $30 billion to boost food production in Africa over the next five years, the President of the African Development Bank (AfDB) said on Friday at the close of a summit on food security on the continent. The continent is facing its worst food crisis ever, with more than one in five …read more →

AFRICAReports ENERGY Infrastructure Infrastructure Financing News & Reports Photo News WORLDReport

Nigeria-Morocco Gas Pipeline to Receive $25 Bln in Funding by 2023, Says NNPC

The Nigeria-Morocco Gas Pipeline is set to receive a total investment of $25 billion in 2023, the Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari has revealed. Kyari said in a report by Bloomberg that discussions for the financing of the energy megaproject are still ongoing, noting that a final …read more →

AFRICAReports Environment News & Reports WORLDReport

AfDB Says 7 African Nations Making Progress on Climate Change Actions

The African Development Bank and the Global Green Growth Institute (GGGI have launched a report analysing the readiness of seven countries – Morocco, Tunisia, Kenya, Rwanda, Senegal, Gabon and Mozambique – to drive green growth. The joint report was launched on the sidelines of Africa Climate Week, in Libreville, Gabon. It assessed the status and …read more →

AFRICAReports Economy Infrastructure Maritime News & Reports Trade and Investments Transportation

First Ship Docks at $2bn Lekki Deep Sea Port

The Lekki Deep Sea Port in Lagos has received the first ship at its dock signaling a new era in port decongestion efforts in Nigeria. The Managing Director, Nigeria Ports Authority, Mohammed Bello-Koko, who received the marine vessel “Zhen Hua 28,” a heavy lift carrier, stated that the Lekki Deep Seaport, when operational, would reduce …read more →

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 →