Africa

The latest World Investment Report from UN Trade and Development (UNCTAD) says foreign direct investment (FDI) inflows to Africa stood at %97 billion. In 2024, foreign investment in the continent shot up by 75% representing 6% of global FDI, compared to a 4% share in 2023. The surge was largely driven…

The UN Development and Trade (UNCTAD) has said that public debt in developing countries has grown twice as fast as in developed economies since 2010. According to the UN agency, the $31 trillion debt by developing economies in 2024 is less than the overall global debt of $102 trillion. A…

African leaders have called on Monday for an urgent review of U.S. tariffs on African exports, urging a shift towards transformative partnerships and investment in Africa’s economic potential. Addressing more than 2,000 government and business leaders, and other delegates at the U.S.-Africa business summit in the capital Luanda, Angolan President…

African Development Bank Group President Dr. Akinwumi Adesina has reaffirmed the Bank’s central role in advancing Africa’s connectivity, industrialization, and regional integration through strategic investments aligned with Italy’s Mattei Plan and the European Union’s Global Gateway initiative. Speaking at the joint Mattei Plan–Global Gateway Summit held in Rome on Friday…

A Qatari-based dairy industry, Baladna, is set to establish a multi-million dollar food factory in Ogun State. Baladna is an agricultural company that raises livestock and produces dairy products. It is Qatar’s largest locally-owned food and dairy producer that supplies over 95 percent of the country’s fresh dairy products. The…

Reprieve may have come the way of foreign students as the President Donald Trump’s administration on Wednesday, directed the resumption of student visa appointments as its foreign missions. However, the administration has also ordered a stricter social media vetting targeting applicants who may be hostile towards the United States, according…

President Bola Ahmed Tinubu has called for collective action and regional cooperation among African countries in actualising transformative development on the continent.   Specifically, he said shrewd utilisation of sovereign wealth funds is crucial in ongoing efforts to close the infrastructure gap, build climate change resilience and create job opportunities…

Ghana is fast-tracking the implementation of the African Continental Free Trade Area (AfCFTA) to unlock new opportunities for Ghanaian businesses across Africa by moving beyond commodity-based trade towards value addition for its traditional exports such as gold, oil and cocoa. Speaking during the Ghana Intra-African Trade Fair (IATF) 2025 Business…

Nigeria is set to lose $4 million fro a World Bank-backed loan after failing to meet critical audit standards tied to reforms in the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service. The forfeited sum was part of the $103 million Fiscal Governance and Institutions Project, designed to…

The Federal High Court in Abuja on Tuesday, ordered the remand of Mr Jesam Michael, the Chef Executive Officer (CEO) of Afriq Arbitrage System (AAS) Limited, in Kuje Correctional Centre over alleged investment fraud. Justice Obiora Egwuatu ordered Michael’s remand on Tuesday following his arraignment by the Economic and Financial…