Investment

By Richard Adorsu- NEW AFRICA BUSINESS NEWS (NABN) Accra GHANA- The informal sector in South Africa is showing signs of a movement away from cash, a new Mastercard study has found. In a white paper titled ‘Driving Financial Inclusion In South Africa’s Informal Economy: The Landscape At The Bottom Of The Pyramid’,...

By Richard Adorsu- NEW AFRICA BUSINESS NEWS (NABN) Accra GHANA-  The Board of Directors of the African Development Bank has given the green light to the budget allocation of $11.70 million to the African Fertilizer Development Financing Mechanism (AFFM). This budgetary allocation will allow the special fund...

By Abdul Rahman Bangura- NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Etienne Bailey – the Director of the Project Implementation Unit at the TRANSCO CLSG steered the team followed by TRANSCO’s Engineering Coordinator – Erik Achi, and the Procurement and Contract Management Specialist – Mohamed Keita....

By Abdul Rahman Bangura- NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone–   The Dangote Petroleum Refinery, which covers an area calculated at 2,635 hectares— about times the size of Victoria Island in Lagos, Nigeria—is anticipated to be Africa’s biggest oil refinery and the world’s enormous single-train...

By Abdul Rahman Bangura- NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– In the opening of Tanga City’s largest Liquefied Petroleum Gas (LPG) depot constructed by Lake Gas Limited – a branch of the Lake Group of Companies Managing Director/CEO of Absa Bank Tanzania Limited – Obeid Laiser vowed...

By Abdul Rahman Bangura- NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Akinwumi Adesina’s – President of AfDB started on Monday, May 15th, 2023, shows up after retired growers declined a preliminary bargain to obtain an expenditure within 10 years via treasury bills, according to an email seen by Reuters...

By Richard Adorsu- NEW AFRICA BUSINESS NEWS (NABN) Accra GHANA- Following years of delays and regulatory hurdles, Dangote Industries Limited is preparing for a ceremonial opening this month at its Lekki Refinery in Lekki, Nigeria, which will be the biggest refinery in Africa. The company expects the...

By Abdul Rahman Bangura- NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Captan addressed correspondents over the weekend during the commissioning of the LEC Unit power plant at the maintenance at the LEC Mount Coffee Hydro in Harrisburg. Captan noted that the Liberia Electricity Corporation, is presently...

By Abdul Rahman Bangura- NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The accession, which is said to enhance its roles in West and Central Africa, commenced in 2021 with the purchase of Sanlam Life Insurance in Togo; Sanlam Life Insurance in Gabon; Sanlam Non-Life Insurance in Congo, and Sanlam...