Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

August 27, 2020

President Muhammadu Buhari and Ngozi Okonjo-Iweala, former finance minister, have congratulated Akinwunmi Adesina on his re-election for a second term in office as the president of African Development Bank. President Buhari, according to a statement issued by Femi Adesina, special adviser on media and publicity, congratulated Adesina on behalf of the federal executive council and […]

U.S. increases cost of visa application for Nigerians

Businessam StaffAugust 27, 2019

The United States has increased the cost of visa application for Nigerians. The US Consulate announced this in a statement explaining that it was “reciprocating” the extra visa fee the Nigerian government charges American citizens. The consulate explained that the extra cost will be applicable to only those whose visa requests were granted.   The […]

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

January 31, 2019

By Paul Wallace and Dulue Mbachu   Presidential hopeful would float naira, sell state oil firm  Abubakar’s policies are opposed by President Muhammadu Buhari In Nigeria’s personality-driven politics, there’s usually little differentiating presidential aspirants in terms of ideology or economic policy. Not any more. Atiku Abubakar, the 72-year-old main opposition candidate in next month’s vote, […]

Ethiopia considers sale of minority stakes in telecoms, airline to foreign investors

admin749June 6, 2018

Ethiopia is opening the state-owned telecommunications company and airline to foreign investors for the first time, a move that indicates new Prime Minister Abiy Ahmed is more receptive to outside interests in Africa’s second-most populous nation. According to Bloomberg’s report seen by business a.m., Ethiopia will sell minority stakes to foreign and domestic investors in […]

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Adesola AfolabiMay 24, 2018

The African Development Bank (AfDB) said it has scaled up industrialization pace on the continent as it has delivered improved business access to transport, energy and skills in the past year. The development bank made the disclosure Thursday in its Annual Development Effectiveness Review (ADER) released at the Bank’s annual meetings in Busan, South Korea. […]

Verve, UBA partner to support Zambia’s subsidy disbursement programme

Businessam StaffMarch 31, 2018

Verve International has signed a partnership agreement with the United Bank for Africa to deliver cost-effective prepaid cards to farmers under the Zambian Ministry of Agriculture’s FISP programme. It was gathered that as part of the partnership deal, UBA will issue Verve prepaid cards in the next season of the Farmers Input Support Programme, an […]

IDB to finance Iraqi infrastructure with $500m – president

Businessam StaffFebruary 14, 2018

Ahmed Mohamed Ali al-Madani, the president of Islamic Development Bank (IDB), said the bank is ready to finance Iraq infrastructure with $500 million, The president said this in Kuwait on Wednesday, according to Reuters. Donors and investors have gathered in Kuwait to discuss efforts to rebuild Iraq’s economy and infrastructure as it emerges from a devastating conflict […]

Namibia GDP growth seen accelerating to 2.2% this year- finance minister

Businessam StaffFebruary 9, 2018

Calle Schlettwein, Namibia’s finance minister said on Friday that the country’s economic growth is expected to accelerate to 2.2 percent this year from an estimated 1.6 percent growth in 2016, supported by higher commodity prices. “We expect improvement due to rising commodity prices although some of the revenue increases might be offset by an (unfavourable) exchange […]

EU aims 2025 Balkans expansion to check Russia, China rising influence

BusinessamFebruary 7, 2018

The European Union has indicated that it hopes to add some of the continent’s poorest countries to its bloc in order to check the influence of Russia, China and Turkey in the Balkans. The EU’s executive branch on Tuesday set a target date of 2025 for some of the Balkan countries to join. Membership would […]