Economy

By Enyichukwu Enemanna As part of the government's broader plan to liberalise the economy, Ethiopia's cabinet on Friday passed a bill allowing foreign banks to set up local subsidiaries and branches as well as allowing foreigners...

By Emmanuel Nduka A joint arrangement by Saudi Arabia’s sovereign wealth fund and a French private equity group will acquire a 38-percent stake in Heathrow, the London airport’s biggest shareholder announced on Friday. Heritage Times HT...

By Emmanuel Nduka The World Bank has said that the tightening of the monetary policy by the Central Bank of Nigeria (CBN), will not address inflation in the country. Heritage Times HT reports that the Bank...

By John Ikani BlackRock, a global investment giant, is pulling the plug on its Africa-focused iShares exchange-traded fund (ETF) due to challenging business conditions in Nigeria and Kenya. The iShares fund, valued at $400 million, will...

By John Ikani South African satellite TV giant MultiChoice is facing tough times. The company reported a net loss of 4.1 billion rand ($225.8 million) for the year ending March 31, 2024, marking its second consecutive...

By Emmanuel Nduka African Export and Import Bank (Afreximbank) has signed a significant $443million facility agreement with Angola's Etu Energias. The deal struck on Thursday at the ongoing Afreximbank Annual Meetings (AAM) 2024 in Nassau, The...