Friday , September 22 2017


Size Matters: Developing Businesses of Scale in Sub-Saharan Africa

industrial complex for the production of galvanized roof sheets, Kampala, Uganda. Photo: Getty Images.

“Policymakers will need to better understand the drivers of, and obstacles to, the growth of African companies if they are to achieve national development goals and create better jobs.”   Africa is overwhelmingly young – and getting younger. The coming ‘youth bulge’ is set to more than double the continent’s …

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Uber Taxi: Some people will come back to Uber now that its CEO has resigned

Travis Kalanick’s decision to resign from his post as Uber’s CEO isn’t likely to turn around the company’s fortunes overnight. But it could give Uber a small boost in one area: ridership. Among consumers who have scaled back or ceased using Uber, nearly 30% believe replacing Kalanick could coax them …

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Trump, Russia and a Shadowy Business Partnership

The special counsel’s investigation of the White House has come more sharply into focus. Robert Mueller is examining whether President Donald Trump obstructed justice when he fired James Comey as director of the Federal Bureau of Investigation, the Washington Post recently reported. As we’ve heard for months now, there is also …

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Mohaz group builds largest poultry farm in South-east

AT a time the Federal Government is seriously pursuing diversification of the economy, with agriculture as the major focus, the South-East may soon become the highest supplier of chicken and eggs in the country, with the massive investment in this line of business of late. At Umueze village, in Ihiala …

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Malabu Oil Scandal: Jonathan must have gotten $200 million, middleman tells FBI

Former President Goodluck Jonathan probably received as much as $200 million to approve the controversial $1.3 billion sale of OPL 245 oil field, Italian prosecutors said in court documents. The documents, which were extracts of a thorough investigation by Italian authorities into the deal, also confirmed that Shell and ENI …

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What Shell CEO told colleague about $1.3 billion Malabu Oil scandal

The boss of one of the world’s biggest corporations was placed under secret surveillance as part of a pan-European corruption investigation into the way the firm paid $1.3 billion for an oil block in Nigeria, explosive documents leaked to Finance Uncovered reveal. The leak includes a recording of a wiretapped …

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South Africa: Ratings Agency Downgrades Credit Rating to ‘Junk’ Status

The credit ratings agency Standard & Poor’s has downgraded South Africa’s foreign currency sovereign credit ratings to below investment status. The move, widely predicted in the wake of President Jacob Zuma’s firing of finance minister Pravin Gordhan and his deputy, Mcebisi Jonas, is likely to make borrowing more expensive, result …

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New Visa Policy For Nigerians Traveling To Indonesia

Nigerians with new passports seeking to travel to Indonesia will need to present a certificate of recommendation from the National Drug Law Enforcement Agency, among other documents to process their visas. Indonesian Ambassador to Nigeria, Harry Purwanto, who told the News Agency of Nigeria in Abuja on Monday, said the …

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Nigeria: The next chapter – Charles Weller

Nigeria: The next chapter

Nigeria presents an interesting tale of seemingly opposites in the African growth agenda. Simultaneously taking pole position as the largest economy in Africa in 2016 and yet suffering from its worst recession in 25 years is indicative of both the ups and downs that the country’s economy has been through. …

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Africa: China’s China?

Addis Ababa China

A night-time drive down Addis Ababa’s main thoroughfare Bole Road and you can’t help noticing the multiplying number of Chinese restaurants, distinctive illuminated Chinese characters on signs bright against the Ethiopian night and signaling Chinese interest in developing markets. A significant Chinese presence in Ethiopia – as across much of …

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Customs suspends vehicle duty policy

Comptroller-General-of-Nigeria Customs Service Hameed-Ali

The Nigeria Customs Service (NCS) has suspended  the implementation of its policy for duty payments on old vehicles, in order to resolve issues with the Senate Committee on Customs. The Acting Public Relations Officer of the NCS, Mr Joseph Attah, said this on Wednesday in Abuja. Attah said in a statement, that …

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Malabu Scandal: Court ruling on Shell, Eni’s bid to take over OPL 245 stalled


Ruling on two applications seeking the return of OPL 245 to two multinational oil companies, Shell and ENI, has again been adjourned, following a fresh application on the matter. The oil firms, through their Nigerian subsidiaries, had challenged the propriety of the Nigerian government withdrawing the oil block from them, …

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Forex abuse: CBN deploy mystery shoppers to commercial banks


The Central Bank of Nigeria (CBN) has deployed mystery shoppers to commercial banks to guard against foreign exchange abuse by the lenders. The CBN, Fidelity Bank Plc Managing Director Nnamdi Okonkwo said yesterday, is particular about ensuring that banks disburse funds meant for Business Travel Allowances (BTAs) and Personal Travel …

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Ethiopian Airline commences flight to Kaduna Airport

Kaduna Airport

Kaduna Airport: One hundred and ten passengers, Wednesday, landed and took off from Kaduna International Airport with Ethiopian Airlines Boeing 787 flight at 11:30am Nigerian Time. Ethiopian Airline Boeing 787 landed in Kaduna International Airport with 50 passengers from Addis Ababa at 11.30am and took off with 60 passengers to …

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FG Appoints Three Directors, General Manager For Federal Airports Authority

Few hours after the Federal Government of Nigeria disengaged 10 directors from the Nigerian Civil Aviation Authority (NCAA), it has also appointed another set of directors and a general manager for the Federal Airports Authority of Nigeria (FAAN). The directors are Group Capt. U.S.A. Sadiq, appointed as Director of Security …

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