Tags : Economy

Here Is Why Uganda Would Need More Skilled Wielders In

Uganda has started the process of preparing some of its citizens for an economic boom, following plans to intensify oil production by 2025. Last week, Sinopec Uganda started the screening process to provide qualified candidates with hands-on training in advanced fabrication and recruitment on the Tilenga project in Nwoya District. The corporation said there were […]Read More

Here Is Why India Is Holding On To $3.47 Million

In a single contraband bust, Indian authorities have sized 6KG of gold worth $3.942 million at the Mumbai International Airport. They seized 53KG worth of gold from 4 Indians on their way back from Tanzania, while the remaining 8KG gold was confiscated from 3 travellers from Dubai. The suspects were confirmed to be smugglers from […]Read More

Ghana’s Cedi Becomes World’s Worst Performing Currency

According to Bloomberg, Ghana’s Cedi depreciated as much as 3.3% taking its losses this year to more than 45%, the most among 148 currencies tracked by Bloomberg. The currency has overtaken the losses of the Sri Lankan rupee, which recently slid nearly 45% against the greenback this year. In the past two months, Ghana has […]Read More

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Businesses Owned By Students Are Crumbling Under Nigeria’s Economy

As the country’s economic metrics have continued to maintain its upward trend, Nigerian students who combine academics with entrepreneurship are facing setbacks in growing their business. For Twentyten Daily, Quadri Yahya spoke to some of these students facing this hardship. In October 2022, Sarah Adegboyega, who owns a fashion accessories store, was making a profit […]Read More

World Bank To Loan The Gambia $68m To Revive Tourism

The Gambia has recently signed a deal with the World Bank to loan up to $68 million that would be used to revive the country’s tourism sector. The grant would promote diversification and climate resilience of tourism and help protect the Atlantic coastline of The Gambia, a country of about 2.1 million inhabitants surrounded by […]Read More

Nigerians’ Spending On Utility Bills Soars By 387%

The amount Nigerians spent on electronic bills grew by 387.19 per cent from N189.50bn in the first four months of 2019 to N923.24bn in the corresponding period of 2022. This indicates an increase in the use of e-channels by Nigerians on bills such as power and other utilities. According to the Nigeria Inter-Bank Settlement System, […]Read More

Economy: Here Is Why South Africa Is Extending Fuel Levy

The South African government is considering an extension on the reduction in the general fuel levy until early August to ease pressure on consumers from high domestic fuel prices linked to the Russia-Ukraine conflict. In March, the government announced a temporary reduction in the fuel levy of 1.5 rands ($0.09) per litre for two months […]Read More

In Two Months, CBN Defends Naira With $3.36bn

Figures obtained from the Central Bank of Nigeria’s January monthly report on ‘Foreign Exchange Market Developments’ showed that $1.71bn and $1.65bn were injected in December 2021 and January 2022 respectively. This is part of efforts to ensure the stability of the naira. In total CBN injected $3.36bn into the foreign exchange market in two months. […]Read More

Zimbabwe’s Central Bank Lifts Ban On Bank Lending Services

Three years after Zimbabwe reintroduced its currency, a decade after abandoning it for mainly the United States dollar, the local currency’s value has declined from about 2.5 to the US dollar in 2019 to 285 to the US dollar on the interbank market. The Zimbabwean dollar trades even lower in black market at 400 to […]Read More

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Reviewing Nigeria’s 2021 GDP Growth (1)

The National Bureau of Statistics has reported that the country’s Gross Domestic Product increased by 4.03 percent in the third quarter of 2021. This is contained in its Gross Domestic Product Report Expenditure and Income Approach report for Q3, Q4 2021. According to the report, in the third quarter of… You must be registered to […]Read More