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Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.
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18 NOV 2024 · US President Joe Biden has given the green light for Ukraine to use long-range missiles supplied by the US to strike Russia Ukraine's President Volodymyr Zelensky reacted to the news which came via briefings from US officials by saying, "Such things are not announced; missiles speak for themselves." Russian President Vladimir Putin has previously warned Western nations against such a move, saying it would represent the Nato military alliance's "direct participation" in the Ukraine war.
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18 NOV 2024 · Mozambique's government has banned protests following sustained post-election unrest that has left several people dead and dozens others injured. It follows last month's disputed presidential election, which Frelimo, the party that has governed Mozambique since 1975, won. The weeks-long protests have led to violent clashes with the police and at least 18 people have been killed, according to Human Rights Watch. Interior Minister Pascoal Ronda has urged Mozambicans to cooperate with the authorities to stop the protests, terming them "acts of terrorism". Demonstrations started at the end last month in the capital, Maputo, after Daniel Chapo, the Frelimo candidate, was officially declared the winner with more than 71% of the vote.
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18 NOV 2024 · The Nigerian Exchange Limited has proposed new rules on block divestment and large-volume trades. Market stakeholders were invited to share their feedback on the proposed rules in a notice to trading licence holders to amend Trading Licence Holders Rules (Part XIIIA) on Block Divestments and large-volume trades. The Chief Executive Officer of the NGX Regulation Limited, Olufemi Shobanjo, says the proposed change includes that trade shall be treated as a block divestment where it involves: a) a transfer of shares amounting to five per cent, which used to be 30 per cent.
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18 NOV 2024 · The Benue State Government says it is working on enacting an electricity law to regulate the state energy sector. The Commissioner for Transport, Renewable Energy, and Power, Mr Omale Omale, says that a draft of the bill was at the Ministry of Justice for vetting and onward presentation to the state executive council. The commissioner stated that the bill would be sent to the House of Assembly as an executive bill as soon as the executive council approved it. Omale says the new Electricity Act allows states to join the energy market, and generate, distribute, and regulate electricity within their states.
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18 NOV 2024 · Nigerian Budget Office says Rising taxes and oil revenues by the Federal Government have boosted its earnings by 76 per cent, from N7.1 trillion in 2022 to N12.5 trillion in 2023. The budget office, says while total revenue was up by 76 per cent, oil revenue rose by a whopping 200 per cent from N0.8 trillion in 2022 to N2.4 trillion in 2023, contributing 19.2% to total revenue. The remarkable increase in oil revenue is attributed largely to higher crude oil production, which increased from an average of 1.31mbpd in 2022 to 1.41mbpd in 2023. Non-oil revenue increased by 57.8% from N6.4 trillion in 2022 to N10.1 trillion in 2023, contributing 80.8% to the total revenue.
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12 NOV 2024 · Qatar has suspended its work as a mediator in ceasefire and hostage release talks between Israel and Hamas The country says it would resume its work when Hamas and Israel show their willingness to negotiate. It comes after senior US officials reportedly says Washington would no longer accept the presence of Hamas representatives in Qatar, accusing the Palestinian group of rejecting fresh proposals for an end to the war in Gaza. Qatar says initial reports from withdrawn from mediation talks are inaccurate. Qatar however says it will resume those efforts when the parties show their willingness and seriousness to end the brutal war.
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12 NOV 2024 · Botswana’s new president says that he wants undocumented Zimbabweans to be legalised by granting them temporary work and residence permits. Botswana hosts the world’s second-largest community of Zimbabweans fleeing their country’s economic woes - and they are often resented, with deportations taking place daily. President Boko says it was a challenge when thousands of Zimbabweans entered Botswana through the long and porous border between the two countries.
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12 NOV 2024 · Russian President Vladimir Putin has offered what he called total support for Africa, including in the struggle against terrorism and extremism. Several African governments have cut ties with traditional Western allies and are looking to Moscow for help in tackling frequent attacks by jihadists. Burkina Faso's Foreign Minister Karamoko Jean-Marie Traoré says Russia was a more suitable international partner than the former colonial power, France. He says that as well as military cooperation, Mali was exploring other joint projects in the energy, telecommunications, technology and mining sectors. He added that Russian companies are working in all these areas with the Malian government and [private] partners in Mali to provide solutions to the challenges facing the Malian people.
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12 NOV 2024 · A member of the National Assembly, Abdulmumin Jibrin, has expressed confidence that the controversial tax reform bills presented by President Bola Tinubu will be passed into law. The Senator representing Borno South in the National Assembly, Senator Ali Ndume, had said that the bills are dead on arrival insisting that the bills are not dead on arrival, saying that the North is not against the bill. Jibrin says Nigerians will be able to see all the clauses in detail and everything included in the bill.
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12 NOV 2024 · The Nigeria Labour Congress has directed its members in states that have yet to implement the new minimum wage to go on an indefinite strike beginning on December 1, 2024. The National Executive Council says the outright refusal by the governments to implement the 2024 National Minimum Wage Act is a betrayal in the face of both legality and morality. The NEC however resolves to set up a National Minimum Wage Implementation Committee that will commence a nationwide assessment, mobilization and sensitization campaign, educating workers and citizens on the need to resist this assault on their dignity and rights.
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| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Categories | News |
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