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 […]
Read more »Via African Arguments, commentary on the planned Africa Energy Bank, a $5B oil bank set to be launched by a coalition of African oil producers: At COP29, the UN Secretary General Antonio Gutteres said doubling down on fossil fuels would be “absurd”. The proposed Africa Energy Bank would do just that. Credit: Stakeholder Democracy. In […]
Read more »