Femi Otedola has spent about ₦222.2 billion on First HoldCo shares, raising his interest in the Nigerian financial group to 25.88%. Calvados Global Services bought 1,779,094,976 First HoldCo shares at ₦124.90 each. The transaction was worth about ₦222.21 billion, equivalent to roughly $160 million at recent exchange rates. Otedola’s interest rose from 21.96% to 25.88%,…
A fresh debate over Europe’s border policies could have significant implications for millions of Africans living, working and studying across the continent, after renewed calls emerged to reserve Schengen free movement exclusively for European Union citizens. A new debate in Europe proposes restricting Schengen free movement to only EU citizens. This follows a surge in…
Ghana has backed five-year presidential terms as part of a sweeping constitutional reform programme that could reshape elections, political eligibility, public appointments and institutional accountability in one of West Africa’s most stable democracies. Ghana’s government plans to extend presidential and parliamentary terms from four to five years. Proposed reforms lower the presidential age limit to…
Nigeria’s oil industry is entering a new phase. The country’s biggest challenge is no longer a lack of refining capacity but producing enough crude oil to supply its refineries. Nigeria’s oil sector now faces the challenge of producing enough crude to supply its domestic refineries. The Dangote Petroleum Refinery alone requires 552,500 barrels per day,…
The escalating military confrontation between the United States and Iran is beginning to spill beyond the Middle East, with Egypt’s strategic Mediterranean LNG hub caught in the crossfire after a drone strike hit two ships at the Port of Damietta, including a U.S.-owned floating storage tanker. A drone strike hit two ships at Egypt’s Port…
West Africa is stepping up efforts to reduce its reliance on foreign fuel price benchmarks, with Nigeria leading a push to establish a regional pricing mechanism that reflects local supply, demand and logistics rather than indices set outside the continent. Nigeria is leading efforts to establish a West African fuel price benchmark based on regional…
Burkina Faso recently found itself on the list of yet another international human rights watchlist, despite the complex security challenge the country is currently facing. Burkina Faso faces severe security challenges but maintains strong economic growth, with GDP growth reaching 5.3% in 2025. The country was placed on the CIVICUS Monitor Watchlist due to growing…
Financial pressure is pushing millions of South African workers toward sports betting and online gambling, with many hoping a lucky win can help them meet daily expenses or escape mounting debt. Financial pressures are leading millions of South Africans to sports betting and online gambling for extra income. Over half of employed South Africans earning…
Japan is investing up to $34 million (C$47.7 million) in a heavy rare earth mining project in Namibia, strengthening Africa’s position in the global race to secure critical minerals used in electric vehicles, renewable energy and defence technologies. Japan will invest up to $34 million (C$47.7 million) in a heavy rare earth project in Namibia…
