Africa News Bulletin

Business

Nigeria’s Dangote to set up oil trading arm for Lagos mega refinery

Africa’s richest man, Aliko Dangote, is charting new territory by considering the establishment of an oil trading arm, potentially headquartered in London, to facilitate the operations of his upcoming refinery venture in Nigeria, sources close to the matter revealed. This strategic move could sideline major global trading entities, which have been engaged in extensive negotiations …

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Algeria hosts key energy summit amidst shifting dynamics

Algeria welcomed envoys from energy-rich nations to a significant summit aimed at addressing pressing challenges and exploring new avenues for collaboration. As leaders from 13 countries convened in the Algerian capital of Algiers for the Gas Exporting Countries Forum (GECF), the spotlight fell on Algeria’s ambition to position itself as a critical natural gas supplier, …

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Africa: Visa Intensifies Global Assistance for Small and Micro Businesses.

Visa and the Visa Foundation have recently unveiled their extensive commitment to bolstering small and micro businesses (SMBs) across the Asia-Pacific Economic Cooperation (APEC) region and worldwide. In a landmark move, the Visa Foundation has pledged a substantial $100 million over five years to empower underserved and women-led SMBs within APEC economies, aiming to boost …

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Rapid Expansion of Giant Snail Farms Marks Agricultural Shift in Ivory Coast.

In Ivory Coast, the unique and highly prized giant snails are facing a worrying decline due to deforestation and pesticide use, causing these creatures to vanish from their natural rainforest habitats. To combat this trend and simultaneously sustain their livelihoods, local communities have taken up the initiative to breed these snails in flourishing farms. Bernus …

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African Finance Summit Explores Challenges and Opportunities in a Thriving Sector.

The Africa Financial Industry Summit (AFIS), hosted in Lomé, Togo, organized by the pan-African magazine Jeune Afrique, has swiftly become a pivotal assembly, attracting over 800 leaders in the African finance sphere. Despite facing notable hurdles, the continent’s financial institutions are steadily carving out their place on the global stage. As international competitors take a …

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Exploring Saudi Arabia’s Business Prospects and Strategies in Africa [BusinessAfrica].

Saudi Arabia Strengthening Ties with Africa; Geopolitical Expert Discusses Strategic Vision on Business Africa. Recently, Riyadh hosted the inaugural Saudi Arabia-Africa summit, witnessing the participation of various African heads of state following an invitation by King Salmane ben Abdelaziz Al Saud. Notably, a series of memorandums of understanding and development loan agreements were inked between …

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Nigeria Launches Electric Train Service

The Lagos Metropolitan Area Transport Authority (LAMATA) – Nigeria’s government agency in charge of coordinating transport planning, policies and public transport – has launched a new electric train service to reduce traffic congestion within the west African country’s capital city, Lagos. The new light rail service features two electric trains operating 54 trips daily, with …

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Germany to Invest in Nigerian Gas, Critical Minerals

German Chancellor, Olaf Scholz, has announced that Germany will enter into future partnerships with Nigeria to invest in critical minerals and natural gas, with a focus on facilitating private investment and economic development. Announced during a joint briefing with Nigeria’s President, Bola Tinubu, in Abuja on October 29, Chancellor Scholz welcomed the West African country’s …

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Analyzing Angola’s Ambitious Approach to Attracting Investment

Amid efforts to diversify the economy while increasing oil and gas production, Angola has instituted a series of ambitious measures to attract investment. This strategic investment approach has not only welcomed foreign players to the market but encouraged pan-African commerce and economic growth. Visa-Free Travel Opens Business Opportunities Under efforts to bolster tourism while attracting …

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