Axis International Ltd has filed a $28.9 billion arbitration claim against Guinea at a World Bank tribunal after the West African country revoked its permit to operate a bauxite mine earlier this year, the United Arab Emirates-based company said. Axis International Ltd has filed a $28.9 billion arbitration claim against Guinea due to the revocation…
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Nigerian billionaire Femi Otedola has sold his controlling stake in Geregu Power Plc, one of Nigeria’s key electricity producers, in a $750 million deal. The transaction concludes a 12-year investment journey and signifies a massive profit of $618 million for Otedola. Femi Otedola finalized a $750 million divestment from Geregu Power Plc, marking a significant…
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As African cities vie for investment, talent, and regional relevance, one characteristic increasingly distinguishes those who succeed from those who don’t: safety. Safety significantly influences the economic competitiveness of African cities. Safe cities attract more investors, businesses, and skilled professionals due to reduced operational uncertainties. An emphasis on urban safety fosters better municipal services and…
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Sudan has produced 70 metric tons of gold in 2025, exceeding its national target by 13% despite ongoing conflict. Sudan exceeded its gold production target in 2025, achieving 70 metric tons despite ongoing conflict Gold mining contributed roughly $1.8 billion to Sudanese government revenue The conflict beginning in April 2023 initially devastated production, but operations…
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Varun Beverages Ltd (VBL), led by Indian billionaire Ravi Jaipuria, is accelerating its African expansion with the acquisition of South Africa’s Twizza Proprietary Limited for roughly $125 million. Varun Beverages Ltd (VBL) is acquiring South Africa’s Twizza Proprietary Limited for approximately $125 million, expanding its footprint in Africa. VBL is diversifying its portfolio with operations…
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The Federal Government has wiped out about $1.42 billion in historical debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, in a move authorised by President Bola Tinubu after extensive record reconciliation. Nigeria has cancelled about $1.42 billion in historical debts owed by NNPC Ltd to the Federation Account after a…
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