African Export-Import Bank (Afreximbank) Africa’s trade volumes slowed sharply by 2.7 percent in 2022 from 10 percent in 2021, following global output deceleration occasioned by challenging environment, according to a new trade report by Afreximbank. But the general price increases more than offset the losses in volumes, giving impetus to the value of global trade …
Since the removal of the peg on the exchange rate by the Central Bank of Nigeria (CBN), the naira has been wobbling against the dollar at the Investors’ & Exporters’ (I&E) FX Window. The CBN, on June 14, 2023, collapsed all segments of foreign exchange markets into the I&E window. After trading on Monday, the …
Africa has some of the world’s most significant, yet, untapped resources such as solar, hydraulic and geothermal energy. While some of these resources are scattered across the continent, most are found in huge deposits around the Northern, Southern and Eastern regions. According to comments by Makhtar Diop, Managing Director, IFC, in the recently concluded Africa …
Sunil Bharti Mittal, chairman of Bharti Airtel Limited Sunil Bharti Mittal, chairman of Bharti Airtel Limited has backed President Bola Tinubu’s action to address the challenges of foreign exchange by floating the Naira, allowing market forces to determine the exchange rate. The chairman who made this statement during his visit to the president at the …
Since the removal of the peg on foreign exchange (FX) by Nigeria’s Central Bank, naira on the Investors’ & Exporters’ FX Window (I&E FX Window) has been swindling reflecting mostly a devaluation. The Central Bank of Nigeria (CBN) on June 14, 2023 collapsed all segments of foreign exchange markets into the I&E forex window. After …
For instance, the CBN has devalued the naira against the dollar to push towards a single foreign exchange system for the local currency. In May, the apex bank adopted the Investors and Exporter’s (I&E) exchange window, which has averaged N410.25/$1 as against the formerly fixed rate of N379/$1. The foreign exchange market is expected to …
Africa has some of the world’s most significant, yet, untapped resources such as solar, hydraulic and geothermal energy. While some of these resources are scattered across the continent, most are found in huge deposits around the Northern, Southern and Eastern regions. According to comments by Makhtar Diop, Managing Director, IFC, in the recently concluded Africa …
Nigeria’s 5G market now has two of the biggest operators in terms of valuation pushing for a slice. Airtel which emerged as the sole bidder and winner of the December 2022 auction of 3.5GHz spectrum license, went commercial on Monday. Airtel joins MTN which already has 5G footprints in 13 cities across the country. Mafab, …
Shelter4Digital(S4G), an initiative of the Africa Digital Economy Forum (ADEF), a digital transformation advocacy platform, is set to drive and deepen digital inclusion in Africa among people with special needs. The S4G campaign began with a visit to public schools with special needs units, where teachers were trained in basic programming languages. Thereafter, the students …
The Nigerian Data Protection Bill (NDPB) was officially signed into Law by President Bola Tinubu on Monday, 12 June 2023. This was disclosed in a statement signed by Babatunde Bamigboye, head, of legal enforcement and regulations at the Nigeria Data Protection Bureau. However, the bill proposed earlier by ex-president Muhammadu Buhari provides a legal framework …