First Independent Mena Newspaper
Economic growth in Sub-Saharan Africa is expected to decelerate this year by slumps in economic powerhouses South Africa, Nigeria and Angola, the World Bank has announced, expressing fears of a lost decade for the continent, faced with growing instability. For the current year, growth should reach 2.5%, compared with 3.6% last year, due in particular […]
The African Continental Free Trade Area (AfCFTA) has potential to increase cross-border remittances by migrants, according to a new report by World Bank, even as international markets remain the largest sources. The AfCFTA has the potential to make cross-border transactions such as remittance transfers by migrants within Africa cheaper through the Pan-African Payment and Settlement […]
The Russian invasion of Ukraine and Moscow’s withdrawal in July from the Black Sea Grain Initiative has driven up global food and commodity prices, severely affecting farming sectors in countries all across Africa. Russia’s withdrawal from a deal brokered by the United Nations and Turkey that allowed the safe passage of Ukrainian grain through the […]
Nigeria has successfully attracted a total of $13 billion in investment commitments in its oil and gas sector from major international energy companies, according to Olu Verheijen, the special adviser on energy to the country’s President Bola Tinubu. Verheijen said that she has partnered with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and they have […]
Two African countries — Nigeria and South Africa — have been listed among the most crypto-savvy countries in the world, according to a new 2023 global survey that also found that the use of cryptocurrency remains a contentious issue in numerous markets across the region. According to the 2023 global survey by Consensys and YouGov, […]
A Nigerian appeals court Wednesday (6 September) dismissed a petition by the opposition Labor Party challenging the legitimacy of President Bola Tinubu’s victory in the February election. The court’s judges dismissed claims made by the opposition leader, Peter Obi, who alleged voter fraud, argued that the electoral authority broke the law, and that Tinubu was […]
Morocco is one of three African countries driving expansion in private, commercial, and military aviation, presenting lucrative opportunities on a global scale, according to a Forbes report released on Friday. Africa’s aviation industry is experiencing significant growth, with Morocco, Nigeria, and South Africa at the forefront of this upward trajectory, the report says. Morocco’s aviation […]
A BRICS currency replacing U.S dollar is a ‘ridiculous’ idea, says the top economist who named the group — especially in light of the fact that China and India are not able to even agree on BRICS membership expansion that will shape the organization’s future. The BRICS group has revealed its internal divisions, with India […]
Nigerian workers have suspended nationwide protests against a fuel subsidy removal and the rising cost of living following a meeting between union leaders with President Bola Tinubu. Hundreds of workers across all sectors went on strike on Wednesday (2 August) in compliance with the directives of Nigeria’s two main unions. Nigeria’s President Bola Tinubu met […]
Elected Niger President Mohamed Bazoum has called on “the US government and the entire international community to help us restore our constitutional order,” as the newly installed junta announced they were scrapping military pacts with France and warned to respond ‘immediately’ to any ‘aggression’ by the West Africa bloc. In a column entitled ‘My Country […]