Economy

By Mayowa Jolayemi Over the past few years, analysts and futurists have sufficiently predicted a future of work which is expected to be gradual and play out in phases as we progressively move from the conventional system at play to the predicted future. Unfortunately, this process is now fast-forwarded by the COVID-19 pandemic, which has made governments across the world to enforce...

By Phyllis Wakiaga We have a great advantage in Kenya as a nation of young, vibrant and highly creative youth. They account for about 75% of Kenya’s population, according to the World Bank. However, they are not adequately enabled to participate in our country’s social, economic and political development. There are many reasons for this, some are unemployment, under-employment, lack of skills,...

Having recently acquired Ghana Home Loans Bank (GHL Bank), First National Bank Ghana, FNB receives a long-term loan of $30 million from Deutsche Investitions - und Entwicklungsgesellschaft mbH, DEG. The fund was provided to help the bank to grow its newly acquired asset portfolio. Meanwhile, more funds are being supplied by other European development finance institutions, such as; Finnfund (Finland),...

The federal government of Nigeria will hold talks with the country’s Central Bank (CBN) in the hope of restructuring business loans as part of the grand plan aimed at easing the weight of the coronavirus crisis on the economy, Vice President Yemi Osinbajo said on Sunday. A statement by his spokesman, Laolu Akande, titled: FG Will Use Part of N2.3...

Pearl Dairy Farms is now exporting its range of milk powder products to Ethiopia, Malawi and South Sudan underpinned by the ratification of the Africa Continental Free Trade Area (AfCFTA) agreement. With the expansion of these markets; Pearl Dairy products are now sold in over eight countries and growing. Algeria is next on the list of potential markets as the...

The program will support 300 high-performing entrepreneurs with up to 150,000 USD each in zero-interest loans and will provide technical support to spur Africa’s economic recovery. Entrepreneurial Solutions Partners (ESPartners), in collaboration with the U.S. African Development Foundation (USADF) and Ecobank, has launched the African Resilience Initiative for Entrepreneurs (ARIE) – a pan-African initiative to provide financial and technical assistance...

An evaluation of the end of the coffee season in Tanzania has revealed that the East African nation earned $135 million in 2020/2021 via the exportation of 68,880 tonnes of coffee. In a total of 23 auctions held in the key coffee zones, some 30,375 tonnes of Arabica coffee and 38,505 tonnes of Robusta were sold to match up...

The president stated this at a Presidential Conference with the Participants of Senior Executive Course 42 of the National Institute for Policy and Strategic Studies at the State House, Abuja, recently. He noted that the focal point of the group's research for the year, "Population Growth and Human Capital Development: Challenges and Opportunities," was most appropriate in timing, and the...

The OPEC Fund for International Development (the OPEC Fund) signed a $20 million term loan in favour of East African Development Bank (EADB), to support small- and medium-sized enterprises (SMEs) and infrastructure projects in East Africa. EADB is an important regional development institution for delivering key development objectives across the East Africa region. It enjoys a high level of...

The Development Bank of Nigeria (DBN) has given the first tranche of the N1 billion to the LivingTrust Mortgage Bank to disburse to Micro Small and Medium Entrepreneurs (MSMEs). This was disclosed by the mortgage bank in a statement it issued on 12th March 2021. According to the statement, the first tranche of N1 billion from the Development Bank of...