Economy

Nigeria has approved seaport development projects in three states of the country’s southern region as part of push to expand port infrastructure and services that will boost revenue in Africa’s biggest economy. The Federal Executive Council’s approval will allow the development of the Ondo Multi-purpose Port in Ilaje, Ondo State; the expansion of Snake Island […]

ARISE IIP will invest $120m in the development of the SIZ – Koya (Sierra Leone Industrial Zone) as part of a public-private partnership with the Republic of Sierra Leone.

TotalEnergies has bought a 49% stake in Compagnie des Bois du Gabon (CBG) from Criterion Africa Partners. In doing so, the French major seeks to develop a forward-looking model of sustainable and responsible forest management that combines sustainable harvesting, biodiversity conservation, and long-term carbon storage. Criterion Africa Partners had entered the capital of CBG back […]

With a new record-high oil revenue in Q3 2021, Angola has collected over Kz 4.2 tn in oil revenue this year so far, data compiled by Hawilti from the country’s Ministry of Finance shows. This is already higher than its oil revenue target of Kz 4.059 tn set within its 2021 budget. “In the first […]

Located just southeast of Nigeria’s capital Abuja, the State of Nasarawa is often overlooked to the benefits of the Federal Capital Territory or bigger industrial states like Kaduna to the north and Kogi to the south. But its government is actively trying to change that and developing new private sector cooperation to boost public infrastructure. […]

Africa will once again be home to some of the world’s fastest-growing economies next year according to the International Monetary Fund (IMF). A total of 11 countries can expect GDP growth levels of 6% or more, including eight in West Africa. Diversified Economies Most performing African markets have in common a relatively diversified economy, at […]

Equatorial Guinea’s economy will be in recession over the 2022 – 2026 period according to the International Monetary Fund (IMF)’s latest forecast. Not only will it be amongst the very few economies whose GDP does not grow and recover from the Covid-19 pandemic, it will be the world’s worst performing economy for the next five […]

By and large, 2021 has been a missed opportunity for African oil producers. While the continent’s hydrocarbons sector yielded several discoveries and Nigeria finally signed its landmark Petroleum Industry Bill into law, decreasing output across the board means that African producers have not maximised benefits from the strong rebound in commodity prices. This is particularly […]

Kenya’s capital, Nairobi, has successfully established itself as a regional hub for trade, commerce, innovation and technology. Now, it wants to compete with Mauritius or even Dubai to be Africa’s new financial hub, positioning itself as a global gateway for capital flowing into Africa’s rapidly growing economies. The country launched this year the Nairobi International […]

Djibouti has no natural resources, a land area of only 23,200 km2 and a population of 1m. Yet, the country has attracted billions of dollars of investments over the past decade, making some of Africa’s biggest economies look up to it with envy. Foreign investors from China, the Middle East and the United States are […]

In January, Benin had kicked off Africa’s financial year with a historic €1bn Eurobond issuance split in two tranches. In July, it continued to tap global capital markets and became Africa’s first nation to issue an SDG-link Eurobond that raised another €500m. In total, the small country of 12m people, often overshadowed by its big […]