(AFRICAN EXAMINER) – Business, finance experts and other stakeholders were sharply divided on the implications and timing of the new cash withdrawal limits by the Central Bank of Nigeria (CBN). They are concerned that the new policy might worsen the tight economic environment. The Senate has scheduled a debate on the matter for next Tuesday. […]
(AFRICAN EXAMINER) – A frontline multinational commercial bank in Nigeria, Access Bank Plc has lauded the impact of women on the national economy and reiterated the need for corporate organisations to support the female entrepreneurs. Owned by Access Bank Group, the bank is proactively deepening its commitment to inspire, connect and empower women through the […]
(AFRICAN EXAMINER) – A new cash withdrawal limit which is a follow-up policy to the Naira Redesign Policy has been announced by the Central Bank of Nigeria. In a statement signed by the Supervising Director of the CBN, Haruna B. Mustapha, the maximum cash withdrawal over the counter (OTC) by individuals and corporate organizations per […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) Group has approved $301 million grant to overhaul the Kampala-Malaba Meter Gauge Railway (MGR) in Uganda. The railway line is part of the East African Community’s Northern Corridor linking the capital, Kampala, to Kenya’s coastal city of Mombasa. The East African Community Railway Rehabilitation Support Project will bolster […]
(AFRICAN EXAMINER) – President of the African Development Bank (AfDB), Dr. Akinwumi Adesina has said that the African Diaspora has become the largest financier of the continent. Dr. Adesina made the observation in his opening remarks at the hybrid Forum, hosted by the bank in partnership with the African Union (AU) Commission, the International Organisation […]
(AFRICAN EXAMINER) – The African Financial Alliance on Climate Change (AFAC) unveiled a new strategy vision for 2030, which is aimed at catalyzing private financing for climate action across Africa. This inauguration of the vision was held during AFAC strategy session that took place on the sidelines of global climate summit (COP27), prioritizing mobilizing capital […]
(AFRICAN EXAMINER) – Major players in the soft drink market have pleaded with the national assembly to protect businesses from collapsing over the N10/litre excise duty tax imposed on the industry. They made this known on Wednesday in Abuja in a meeting with the leadership of the national assembly. African Examiner recalls that in January, […]
(AFRICAN EXAMINER) – Despite the increasing fuel scarcity across the country, the Nigerian National Petroleum Company Limited (NNPC Ltd) has stated that it has two billion litres of Premium Motor Spirit (PMS), aka petrol, in stock. In a statement on Thursday, Adeyemi Adetunji, Executive Vice President, Downstream, NNPC Limited, disclosed that with enough fuel in […]
(AFRICAN EXAMINER) – The International Monetary Fund has stated that it will help Ghana restore macroeconomic stability. Ghana had requested for help from the IMF in July after its citizens protested the spiraling inflation, currency depreciation, and other economic woes. In a statement on Wednesday, IMF stated that its team would visit the West African […]
(AFRICAN EXAMINER) – African Development Fund (ADF), the concessional lending arm for the African Development Bank (AfDB) Group, has approved $13.95 million grant for the implementation of Borana Resilient Water Development for Improved livelihoods programme in Ethiopia Administered by the AfDB, the ADF comprises 32 contributing countries and benefits 37 countries. The 37 ADF-eligible countries […]
(AFRICAN EXAMINER) – African Development Fund (ADF), the concessional lending arm for the African Development Bank (AfDB) Group, has approved $16 million in loan and grant financing to Niger to implement the Financial Sector Deepening and Inclusion Project. Administered by the AfDB, the ADF comprises 32 contributing countries and 37 benefits countries. The 37 ADF-eligible […]
(AFRICAN EXAMINER) – Liberia has secured $5.12 million from the African Development Bank (AfDB) Group for the implementation of for the Emergency Food Production Programme in the country. This paves the way for the government to support farmers as they increase climate resilient food production and mitigate the impact of the ongoing war in Ukraine. […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) says it is planning to reduce the volume of higher denominations — N500 and N1000 — in circulation to tame inflation. Godwin Emefiele, governor of CBN, made this known while fielding questions from journalists at the monetary policy committee (MPC) meeting in Abuja. Emefiele said increasing […]
(AFRICAN EXAMINER) – African Development Fund (ADF), the concessional window of the African Development Bank (AfDB) Group, has approved a $27.9 million grant to Ghana for the development of Savannah Agriculture Value Chain Development Project (SADP). The SADP project, which is located in Savannah region of the West African nation, will be implemented by Ghana’s […]
(AFRICAN EXAMINER) – The redesigned Naira, an official legal tender issued by the Central Bank of Nigeria (CBN), has been unveiled by President Muhammadu Buhari during the weekly Federal Executive Council at the Presidential Villa on Wednesday. Bashir Ahmad, Special Assistant on Digital Communications to President Muhammadu Buhari, shared photos of the currency after it […]
(AFRICAN EXAMINER) – Bitcoin price is slowly moving lower towards $15,500. BTC remains at a risk of more losses unless it settles above the $17,000 resistance zone. Bitcoin started a fresh decline below the $16,500 and $16,400 levels. The price is trading below $16,500 and the 100 hourly simple moving average. There is a key […]
(AFRICAN EXAMINER) – The African Union Commission (AUC) and the African Development Bank (AfDB) have signed a $9.73 grant agreement to implement Phase 1 of the Upstream Project for Digital Market Development in Africa. The project comes as the backdrop of the Covid-19-induced recession that exposed several gaps in the African digital economy ecosystem. It […]
(AFRICAN EXAMINER) – Former Irish President, Mary Robinson has called for a bespoke climate fund to support grassroots women to tackle climate change and build resilience. Robinson made call while speaking at a panel discussion to mark ‘Gender Day’ at the ongoing 27th United Nations Climate Change Conference (COP27) in Egypt. The African Development Bank […]
(AFRICAN EXAMINER) – The German Government has pledged to support the African Development Bank (AfDB) Group’s Climate Action Window initiative for fragile African states with €40 million. The Climate Action Window is an initiative of the African Development Fund (ADF), the AfDB Group’s concessional lending window to low-income African states. It is also mobilizing up […]
(AFRICAN EXAMINER) – Global experts at the ongoing 27th Conference of the Parties (COP27) of the United Nations Framework Convention on Climate Change (UNFCCC) in Egypt, have endorsed a new climate finance roadmap to mobilize $1 trillion in annual external finance required by emerging markets and developing countries, excluding China. The roadmap draws on the […]
