Category: African News

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A move by the Sudanese government to introduce new banknotes and compel people to open bank accounts has boosted bank deposits and with them the army’s war effort, finance minister Jibril Ibrahim said, though some critics say it has excluded millions from the financial system. Ibrahim said the initiative, launched in December with the explicit… Read More »Khartoum’s Currency Gamble

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A move by the Sudanese government to introduce new banknotes and compel people to open bank accounts has boosted bank deposits and with them the army’s war effort, finance minister Jibril Ibrahim said, though some critics say it has excluded millions from the financial system. Ibrahim said the initiative, launched in December with the explicit… Read More »Khartoum’s Currency Gamble

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In December 2024, JSE-listed Bidvest announced that it would dispose of 100% of Bidvest Bank Holdings Limited to Access Bank plc. Bidvest is expected to raise R2.8 billion from the sale, which will then be used to settle its existing debt. Access Bank plans to implement Broad-Based Black Economic Empowerment (BBBEE) ownership, including an Employee… Read More »South Africa’s Bidvest Bank is being Sold to Nigerian-based Access Bank

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In December 2024, JSE-listed Bidvest announced that it would dispose of 100% of Bidvest Bank Holdings Limited to Access Bank plc. Bidvest is expected to raise R2.8 billion from the sale, which will then be used to settle its existing debt. Access Bank plans to implement Broad-Based Black Economic Empowerment (BBBEE) ownership, including an Employee… Read More »South Africa’s Bidvest Bank is being Sold to Nigerian-based Access Bank

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Close to $53m in alleged illicit funds recovered from Nigeria’s former oil minister Diezani Alison-Madueke among others will be used to fund public services, the country’s justice ministry says. The money is being sent back to Nigeria from the US, whose authorities allege that Alison-Madueke enriched herself, and others, while leading Nigeria’s state oil firm… Read More »The US Repatriates Money Stolen by Nigerian Officials

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Close to $53m in alleged illicit funds recovered from Nigeria’s former oil minister Diezani Alison-Madueke among others will be used to fund public services, the country’s justice ministry says. The money is being sent back to Nigeria from the US, whose authorities allege that Alison-Madueke enriched herself, and others, while leading Nigeria’s state oil firm… Read More »The US Repatriates Money Stolen by Nigerian Officials

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The UK government has offered to frontload a tranche of payments to Mauritius to finalise the draft deal over the sovereignty of the Chagos Islands. Insiders say Britain is offering to pay Mauritius about £90mn a year for the initial 99-year lease of Diego Garcia, the main atoll in the Indian Ocean archipelago, which hosts… Read More »UK and Mauritius Strike a Deal on The Chagos Islands

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The UK government has offered to frontload a tranche of payments to Mauritius to finalise the draft deal over the sovereignty of the Chagos Islands. Insiders say Britain is offering to pay Mauritius about £90mn a year for the initial 99-year lease of Diego Garcia, the main atoll in the Indian Ocean archipelago, which hosts… Read More »UK and Mauritius Strike a Deal on The Chagos Islands

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Independent research by advisory firm MO Africa Company Limited shows that between November 19 and December 26 last year, Lagos’ Murtala Muhammed International Airport (MMIA) handled around 550,000 inbound passengers. Nearly 90% of these arrivals were Nigerians living abroad, flying in primarily for leisure and tourism. Kayode Omosebi, CEO of MO Africa Company Limited, says… Read More »“Detty December” Galvanised Lagos’ $75 Million Tourism Boom

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Independent research by advisory firm MO Africa Company Limited shows that between November 19 and December 26 last year, Lagos’ Murtala Muhammed International Airport (MMIA) handled around 550,000 inbound passengers. Nearly 90% of these arrivals were Nigerians living abroad, flying in primarily for leisure and tourism. Kayode Omosebi, CEO of MO Africa Company Limited, says… Read More »“Detty December” Galvanised Lagos’ $75 Million Tourism Boom