Jim Ovia, the founder of Zenith Bank, is expanding his footprint in Nigeria’s luxury real estate market, betting that high-end property offers stronger returns than traditional banking investments. Jim Ovia, founder of Zenith Bank, is investing heavily in Nigeria’s luxury real estate market, seeing it as more profitable than traditional banking. His company, Quantum Luxury…
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The International Monetary Fund (IMF) has raised concerns over Nigeria’s proposed $5 billion borrowing arrangement with First Abu Dhabi Bank, warning that such financial structures may be opaque, complex and difficult to fully assess in terms of risk exposure. The IMF expressed concerns over Nigeria’s proposed $5 billion borrowing from First Abu Dhabi Bank. The…
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Rwanda has secured official approval for a new $250 million financing package from the International Monetary Fund (IMF), providing a critical buffer for one of Africa’s fastest-growing economies as rising global uncertainty and the ongoing conflict in the Middle East threaten to slow growth and fuel inflation. Rwanda has secured a $250 million, 38-month IMF…
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Tanzania is seeking more than $2 billion in Russian investment and business deals over the next three to five years as East Africa’s second-largest economy deepens ties with Moscow following a diplomatic fallout with the United States and European Union. Tanzania is seeking over $2 billion in Russian investments and business deals within the next…
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Italian energy major Eni has entered Gambia’s upstream oil and gas sector for the first time after securing an offshore exploration licence in a move that expands its footprint across one of Africa’s fastest-growing energy regions. Italian energy giant Eni has entered Gambia’s oil and gas sector after securing an offshore exploration licence for the…
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The United Arab Emirates (UAE) has introduced emergency visa and travel restrictions targeting three African nations as authorities seek to contain the impact of an intensifying Ebola crisis. The UAE has imposed emergency travel restrictions on the DRC, Uganda, and South Sudan due to an Ebola outbreak. All new visas for citizens of these countries…
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