Economy

China's financial engagement with Africa faces a new setback due to the ongoing conflict in Sudan, putting at risk loans worth over $5 billion. Sudan has been a major recipient of Chinese financing in Africa, with...

Transnational Corporation of Nigeria (Transcorp) has been at the center of a recent battle for control, and now billionaire businessman Femi Otedola has accused Tony Elumelu, the current Chairman of the company, of backstabbing him repeatedly...

The Central Bank of Nigeria (CBN) has taken a significant step to enhance dollar liquidity by authorising representatives of foreign banks in Nigeria to work with their parent companies in providing foreign currency-denominated loans (dollar loans)...

By John Ikani Australian firm Invictus Energy has uncovered a significant amount of light oil, gas, and helium in remote northeastern Zimbabwe after months of exploration. In a statement, Invictus Energy confirmed the “presence of light...

By John Ikani  The Nigerian Government's efforts to promote self-sufficiency in crude oil refining have received a significant boost as the Dangote Refinery, the world's largest single-train refinery, prepares to be inaugurated on May 22 by...

By Oyintari Ben On Friday, the South African rand declined against the dollar as a result of better-than-expected US jobs statistics, which suggested that the Federal Reserve might continue its cycle of rate hikes. The rand's...