economy

Nov
26
2023
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By Ahmed Ture
G20 agrees to make AU a permanent member

G20 agrees to make AU a permanent member

Africa, Breaking, Economy, World News, , ,
Indian Prime Minister Narendra Modi announced Saturday that the African Union has been granted permanent membership in the Group of 20 top international economies, bolstering his efforts to give the Global South a stronger voice as host of this year's annual summit. Modi announced the membership in his G20 weekend summit opening remarks. Growing global rifts and the absence of key actors made consensus on the toughest issues difficult. Many supported admitting the AU to the G20 as the second regional bloc to become a permanent member after the EU.Modi rapped his gavel three times before announcing the motion to…
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Nov
26
2023
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By Ahmed Ture
The African Continental Free Trade Area (AfCFTA) is set to expand to comprise 30 countries by 2024.

The African Continental Free Trade Area (AfCFTA) is set to expand to comprise 30 countries by 2024.

Africa, Breaking, Economy, ,
Senior Advisor Peter Joy Serwornoo to the Secretary-General of the African Continental Free Trade Area (AfCFTA) declared that 30 African nations are ready to start trading under this agreement next year, marking a significant step towards its implementation. Through the AfCFTA Guided Trade Initiative, seven countries have started trading in order to help African states begin trade under this agreement. Leading the charge on this endeavour are Ghana, Kenya, Tanzania, Egypt, Cameroon, Rwanda, and Mauritius. Leading the charge on this endeavour are Ghana, Kenya, Tanzania, Egypt, Cameroon, Rwanda, and Mauritius. Speaking at the Regional Forum on AfCFTA for Anglophone West…
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Nov
23
2023
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By Ahmed Ture
Delta residents build Shrine in Chevron plant over PIA failure.

Delta residents build Shrine in Chevron plant over PIA failure.

Africa, Breaking, Economy, Nigeria, , ,
Ugborodo Community residents in Warri South-West Local Government Area of Delta State protested Chevron Escravos Gas to Liquid (EGTL)'s alleged non-implementation of the Petroleum Industry Act by setting up a frightening idol in front of the plant on Wednesday. Placard-bearing protestors who blocked the facility's gate stated the idol, called “Ogbejugbele,” was not damaging to Chevron employees but was a symbolic expression of their ancestors' anger with the firm. Protesters claimed they would stay at Chevron until the federal government and the oil company complied. They demanded 41 things from Chevron, including implementing the Petroleum Industry Act (PIA) and the…
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Sep
17
2023
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By Ahmed Ture
Mali, Burkina Faso, and Niger sign a deal to oppose ECOWAS

Mali, Burkina Faso, and Niger sign a deal to oppose ECOWAS

Africa, Breaking, Politics, , , ,
Three military-led West African Sahel countries—Mali, Burkina Faso, and Niger—have signed a security treaty that will make them support one another against any external aggression. They signed the treaty on Saturday, in a development that appeared to counter the threat posed by the Economic Community of West African States (ECOWAS). Recall that ECOWAS issued threats to intervene militarily following the July coup in Niger, that ousted President Mohamed Bazoum. Mali and Burkina Faso have vowed to come to Niger’s aid if it is attacked. ECOWAS and the West have criticized the three countries over military takeovers, which have strained their…
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Sep
15
2023
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By Ahmed Ture
Meet Olayemi Cardoso, the new CBN Governor, what you must know about him.

Meet Olayemi Cardoso, the new CBN Governor, what you must know about him.

Breaking, Economy, Nigeria,
Following President Bola Ahmed Tinubu’s appointment of Olayemi Michael Cardoso as the Governor of the Central Bank of Nigeria on Friday, the Daily Post has outlined the profile of the new apex bank’s boss. Cardoso replaced Folashodun Shonubi, who served in an acting capacity after the suspension of Godwin Emefiele on June 9. PROFILE Mr Cardoso, a native of Lagos State, holds a Master’s in Public Administration and Management from Harvard University. He was the first commissioner for Economic Planning and Budget in Lagos State upon the return to civilian democracy in 1999 under Tinubu as the then governor. Cardoso also worked…
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