Afreximbank enters partnership with world’s largest fertilizer company; signs $350m loan facility
Charles Abuede
March 15, 2021
Charles Abuede In an effort aimed at providing finance to the Moroccan State-owned world largest phosphate mining and leading fertilizer company, the OCP Group, the African Export-Import Bank (Afreximbank) has revealed that it has penned a 7-year loan facility worth $350 million on a long-term basis. The bank said the facility would help the […]
Ellah Lakes, Pure Flour Mills sign 5000mt cassava supply agreement
Charles AbuedeSeptember 15, 2020
Charles Abuede Ellah Lakes Plc has signed a produce offtake agreement with Pure Flour Mills Limited (PFM), a subsidiary of De United Foods Industries Limited, makers of popular noodles pasta, Indomie, for the initial supply of a minimum of approximately 5000 metric tonnes of cassava to its processing facility in Edo State. The agricultural firm […]
Nigerian Cocoa: Troubled on different fronts
Onome AmugeSeptember 14, 2020
Onome Amuge Farmers, stakeholders on production plunge Nigeria’s leading agricultural export and cash crop, cocoa, has suffered a major setback as the commodity witnessed a shortfall while West African contenders in the cocoa export business, Côte d’Ivoire and Ghana, are enjoying a boom despite possessing lesser numbers of production hectares compared to Nigeria. The United […]
AfDB back as top-tier partner of AGRA, sponsors 10th green revolution forum
Ben Eguzozie with wire copySeptember 8, 2020
Ben Eguzozie, with wire copy The African Development Bank (AfDB) has returned as a top-tier partner of the African Green Revolution Forum (AGRF) – Africa’s largest annual agriculture conference – which brings together delegates from governments, civil society, the private sector and research communities. The 10th edition of AGRF, hosted by Rwanda and the AGRF partners […]
Ellah Lakes pushes expansion plan, IMC Plantations acquisition in sight
Businessam StaffAugust 20, 2020
Charles Abuede Barely 15 months after the full acquisition of Telluria Farms in 2019, Ellah Lakes Plc, Nigeria’s leading oil palm producer, has announced the potential acquisition of IMC Plantations Limited in a transaction that will involve a 100 per cent purchase of the shares of the oil palm processing company with substantial assets in […]
NDBDA promises food sufficiency in oil region with Songhai integrated agric project
Businessam StaffAugust 20, 2020
Ben Eguzozie, in Port Harcourt Seeks police security for volatile Ogoni farm area Niger Delta Basin Development Authority (NDBDA), a river-fed agric initiative aimed at propelling rural communities in the oil region along food crops production, is out with a readiness to flood the markets with assorted foodstuff from its multi-million-naira Songhai Integrated Farm at […]
Gold investors express optimism despite unpredictable U.S., China trade deal
Businessam Staff, Mudashir TundeNovember 5, 2019
Kenneth Afor Despite the unpredictable nature hovering the yet to be concluded trade deal between the United States and China, gold investors continue to express optimism that the outcome of the deal would bring the commodity to its normal trading figures after weeks of volatility. Also, investors in most trading centres maintained shared optimism […]
Rosneft, Russian oil giant, ditches dollar for euros as reference currency
Businessam StaffOctober 24, 2019
Global oil market intelligence emerging right now is indicating that Rosneft, the largest oil company in Russia, has completed the switch from using the US dollar to euros as reference currency in the pricing of its export contracts. Reports monitored by businessamlive.com shows Igor Sechin, chief executive officer of Rosneft, as saying on Thursday that the move […]
AfDB injects $40m into agriculture development in Nigeria, Ethiopia, Mali, others
Temitayo AyetotoJuly 12, 2018
The African Development Bank (AfDB) has injected an aggregate of $40 million seed fund into agriculture development projects in Nigeria, Ethiopia, Mali and 24 other countries, under its Technology for African Agricultural Transformation (TAAT) initiative, Adeniyi Adediran, the TAAT coordinator for Nigeria Livestock Compact, has said at a forum convened by the International Livestock Research […]
Renewed trade concerns push soybean prices to record decline
Businessam StaffJune 20, 2018
Renewed trade concerns stemming from US-China discord on Tuesday pushed soybean futures for July delivery by more than seven percent to $8.415 a bushel, the lowest since March 2009, according to Thomson Reuters. They traded near $8.64 a bushel earlier in the day. A war of words between the two countries picked up overnight, following […]