The eThekwini Municipality plans to borrow R1.5 billion to fund capital projects in the upcoming 2024/2025 financial year — a move that’s drawing concern from opposition parties and residents alike. Municipal officials presented the borrowing proposal during an Executive Committee (Exco) meeting on Friday, noting that the loan would
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A former Standard Bank financial planner has been permanently barred from working in the financial sector after using client relationships to borrow more than R28,000. Thapelo Jan Baloyi was hired as an independent contractor in October 2022, operating from the bank’s Secunda branch in Mpumalanga. But in July 2024,
Nigeria has officially approved China’s plans to establish electric vehicle (EV) factories in the country, marking a significant step in industrial and economic collaboration between the two nations. During a courtesy visit to the Minister of Solid Minerals Development, Dr. Dele Alake, the Chinese Ambassador to Nigeria, Yu Dunhai,
Nigeria has attracted over $8 billion in investments for deepwater and gas projects within the past year, thanks to major reforms by the federal government aimed at revitalizing the energy sector. This was revealed by Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during the 2025 Africa
A group of concerned civil society organisations has sounded the alarm on Nigeria’s growing financial crisis, revealing that the country loses more than $18 billion every year to illicit financial flows—while over 70% of its revenue goes into servicing debt. This troubling revelation is part of a newly released
Cocoa prices have surged, recently settling at $9,187 per ton on the New York Commodity Exchange, and Nigeria is positioning itself to benefit. In a bold move to reduce its reliance on crude oil revenues, the country is turning its focus to cocoa, one of its key agricultural exports.
The Lagos Chamber of Commerce and Industry (LCCI) has emphasized that the success of the Federal Government’s ‘Nigeria First’ policy hinges on bold, consistent, and coordinated implementation. According to Dr. Chinyere Almona, Director General of LCCI, the policy—soon to be formalized through an executive order—requires Nigeria to be prioritized
The Nigerian government has raised alarm over the growing threat of food fraud and unsafe preparation methods, revealing that the country loses approximately $3.6 billion each year due to foodborne illnesses. These losses come from reduced productivity, increased medical costs, and restrictions on trade. Speaking at the launch of
The South African Post Office (SAPO) is set to receive a R381 million wage subsidy from the government to help cover employee salaries for the next six months as part of its business rescue process. This funding is intended to provide financial relief to nearly 6,000 employees and reduce
