Via The Africa Report, a look at how a wave of multinational exits from Nigeria raises the stakes in the hunt for new emerging market investors: After a year that saw Guinness Nigeria swing to a loss of N18.16bn from a profit of N15.65bn in 2022, British drinks giant Diageo decided to offload its stake in the company in […]
Read more »Via Foreign Policy, an article on how Nigeria is looking to other African nations to help it diversify its markets: Nigeria signed a minerals deal with South Africa last Thursday as it seeks to diversify from oil, which currently accounts for around 90 percent of Abuja’s exports. According to the pact, the two countries will share […]
Read more »Via The Africa Report, a look at the Gulf’s continued strong investment interest in Africa: Gulf countries invested over $100bn in Africa between 2012 and 2022, leveraging the continent’s opportunities to diversify their oil-dependent economies. Nearly half of those investments came from the UAE. Here is a breakdown in infographics. Agriculture, renewable energy, healthcare and […]
Read more »Via Geopolitical Economy, a report on BRICS addition of a new partner in Nigeria, Africa’s most populous country with no. 6 population on Earth. BRICS+ now has 10 members & 9 partners, comprising 54.6% of world population & 42.2% of global GDP (PPP) BRICS continues to grow. On 17 January, it officially admitted Nigeria as […]
Read more »Via North Africa Post, a report on plans to build a super coastal highway in Africa: Côte d’Ivoire and Nigeria have revived talks for a regional highway that will link the two countries, boosting the movement of people and goods. The project is being discussed at an ECOWAS summit dominated by political issues and divisions […]
Read more »Via The Africa Report, commentary on how a new Chinese entrant in Nigerian cement is likely to ramp up competition: Dangote Cement and BUA face a new challenger in Nigeria from Chinese newcomer Huaxin Cement, which is buying an 83.8% stake in Lafarge Africa from Holcim. Holcim said in a statement on 1 December that the sale […]
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