The central parity rate of the Chinese currency renminbi, or the Yuan, weakened nine pips to 7.1891 against the dollar on Tuesday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan can rise or fall by two per cent from the central parity rate each trading…
Vice-President of ECOWAS Commission, Damtien Tchintchibidja, says about two million West/Central African women and girls have benefited from Sub-Saharan Africa Women’s Empowerment Demographic Dividend plus (SWEDD) project in 10 years. Tchintchibidja made this known while officially inaugurating a new phase of the project tagged: SWEDD+, on Monday, in Abuja. The News Agency of Nigeria (NAN)…
Prof Kevin Urama, Chief Economist and Vice President, Economic Governance and Knowledge Management, African Development Bank (AfDB), says the continent needs 74 billion dollars in 2024 for debt service. Urama disclosed this at the launch of the Debt Management Forum for Africa (DeMFA) and its innaugural policy dialogue on Monday in Abuja. The theme of…
Vice-President Kashim Shettima is scheduled to hold a bilateral meeting with the Chairman, Islamic Development Bank (IsDB) Group, Dr Muhammad-Sulaiman Al-Jasser, in Jeddah, Saudi Arabia, on Dec. 20. This is contained in a statement on Monday by Mr Stanley Nkwocha, Senior Special Assistant to the President on Media & Communications, Office of the Vice President….
Ghana’s president-elect, John Dramani Mahama, has pledged to revamp the cocoa sector and reorganise the state-run regulator, aiming to stimulate growth and improve efficiency in the world’s second-largest cocoa producer. In an interview with Reuters on Friday, he criticised the cocoa industry structure where the cocoa marketing board (COCOBOD) competes with farmers for profits. “Can…
World Trade Organisation (WTO) members agreed on Monday to hold the next ministerial conference in Cameroon in early 2026, it said in a statement. The WTO holds such conferences every two years where trade ministers from around the globe gather to try to reach deals to set or update new trade rules. The statement indicated…
The Federal Government has paid its ECOWAS community levy of N85 billion and 54 million dollars representing 2023 and up to July 2024. Dr Omar Touray, President of the ECOWAS Commission, said this on Sunday, during the opening of the 66th Ordinary Session of the Authority of Heads of State and Government, at the Banquet…
The International Monetary Fund (IMF) has approved the disbursement of 10 million dollars to Somalia to boost the country’s economic reforms. IMF in a statement said that the latest funding “brings Somalia’s total disbursement under the current programme, originally approved in Dec. 2023, to 60 million dollars.’’ Bo Li, the IMF’s Deputy Managing Director, said…
Mr Philip Mshelbila, Managing Director of Nigeria Liquefied Natural Gas (LNG) Ltd., says Africa’s energy sector needs over 200 billion dollars in annual investments to meet its energy and climate goals. Mshelbila spoke at the networking session reception, hosted by Nigeria LNG in Berlin, Germany, on Monday. The News Agency of Nigeria (NAN) reports that…
The African Development Bank (AfDB) has provided key insights into how Nigeria and other African nations can address their growing debt burdens and foreign exchange challenges. The Bank’s Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that strategic borrowing and political stability were critical for growth….
