Business

Korea Announces $5Billion Financial Package For Africa

The Government of Korea and the African Development Bank have issued a Joint Declaration following the conclusion of the Ministerial Roundtable of the Korea-Africa Economic Cooperation (KOAFEC) Conference taking place during the African Development Bank’s 53rd Annual Meetings in which Korea announced a $5billion bilateral financial assistance package for Africa. The Ministerial Roundtable is the signature event of the biennial KOAFEC Conference, ...

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East African Banks Dominate This Year’s African Banker Awards

Winners of the 2018 African Banker Awards have been announced at a prestigious Gala Dinner in Busan, South Korea. The Awards, held annually on the fringes of the Annual Meetings of the African Development Bank, celebrate excellence in banking and finance on the African continent. East Africa dominated the awards this year. The CEO of Equity Group Holdings Plc in ...

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Investments In Lekki Will Make Lagos Next Business Destination In Africa – Ambode

…ongoing projects in Lekki Free Trade Zone largest worldwide, says Dangote Lagos State Governor, Mr Akinwunmi Ambode, on Sunday inspected the ongoing projects in the Lekki Free Trade Zone, saying the massive investments being jointly made in the axis by government and the private sector was targeted at making Lagos emerge as the next destination for business in Africa. Governor ...

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Osinbajo Projects Creation Of 500,000 New Jobs Via ERGP Focus Labs

*Says Buhari administration working hard to ensure Nigeria’s economic prosperity Vice President Yemi Osinbajo says the Economic Recovery and Growth Plan (ERGP) Focus Labs have have succeeded in identifying more than US$22.5 billion in private investments from about 164 projects, which can be unlocked. Of this amount, Osinbajo said, “USD $10.9 billion of them are what we call ‘Most Ready’ ...

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Excess Charges: CBN Compels Banks To Refund With Interest

The Central Bank of Nigeria (CBN), said any bank that deducts monies illegally from a customer’s account for products and services would be forced to refund the money to the customer with interest. Mr Fada David, Consumer Complaints Management, Consumer Protection Department, CBN, said this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja. This ...

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Warren Buffet Loses Billions, First Time In 9 Years

Warren Buffett has reported a $1.14 billion loss at Buffett’s Berkshire Hathaway Inc. in the first quarter, the Omaha, Nebraska-based company said. That marked the company’s first net loss since 2009. The loss was caused by new accounting-rule changes, which the Oracle of Omaha had predicted would cause nightmares. The rules require Berkshire to report unrealised gains or losses in equity investments ...

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Cherie Blair Joins Dangote As Group Announces New Appointments

In order to strengthen the group’s Executive management team and sustain its strategic business growth trajectory, Africa’s foremost indigenous conglomerate, Dangote Industries Limited (DIL) has announced new appointments. In the new organizational rejig, Olakunle Alake the erstwhile Chief Operating Officer (COO) is now the Group Managing Director and Dr. Adenike Fajemirokun, the Group Chief Risk Officer has been elevated to ...

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Ecobank Launches Fintech Challenge Competition For African Start-ups

Ecobank, the leading pan-African banking group, is inviting African fintech entrepreneurs to enter its Ecobank Fintech Challenge. Now in its second year, the initiative gives African start-ups the chance to promote their fintech solutions, and potentially to partner Ecobank in rolling-out their solutions across Ecobank’s 33 markets. Ecobank is currently welcoming submissions from all start-ups and developers in any of ...

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OPEC’s New Price Hawk Saudi Arabia Seeks Oil As High As $100

Top oil exporter Saudi Arabia would be happy to see crude rise to $80 or even $100 a barrel, three industry sources said, a sign Riyadh will seek no changes to an OPEC supply-cutting deal even though the agreement’s original target is within sight. The Organization of the Petroleum Exporting Countries, Russia and several other producers began to reduce supply ...

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Applications Open For Training And Funding For Nigeria’s Brightest Entrepreneurs

Applications are now open for the She Leads Africa Accelerator 2018, a 3-month program designed to identify, support and fund the next generation of Nigeria’s brightest entrepreneurs. Entrepreneurs building technology enabled businesses across Nigeria are eligible to apply for coaching, networking opportunities and the chance to receive funding for their business. The 2018 Accelerator  will consist of three 1-week residencies in Lagos where ...

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