Business & Economy
Elon Musk tells President Cyril Ramaphosa he wants to bring Tesla cars to South Africa.
source
May 24, 2025
No Comments
Business & Economy
Ex-Standard Bank Employee Banned for Borrowing Money from Clients
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,
May 23, 2025
No Comments
Business & Economy
Nigeria Gives China Green Light to Set Up Electric Vehicle Factories
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,
May 19, 2025
No Comments
Business & Economy
Nigeria Secures $8 Billion Investment Boost in Energy Sector, Increases Local Stake in Gas Industry
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
May 14, 2025
No Comments
Business & Economy
Nigeria Bleeds $18 Billion Annually to Illicit Financial Flows as Debt Payments Swallow Over 70% of National Revenue
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
May 13, 2025
No Comments
Business & Economy
Nigeria Ramps Up Cocoa Production as Global Prices Soar
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.
May 11, 2025
No Comments
Business & Economy
LCCI Calls for Strong Implementation of ‘Nigeria First’ Policy to Boost Local Economy
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
May 9, 2025
No Comments
Business & Economy
Nigeria Faces $3.6 Billion Annual Loss from Unsafe Food Practices
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
May 8, 2025
No Comments
Business & Economy
Government Grants R381 Million Wage Support to Rescue Struggling South African Post Office
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
May 8, 2025
No Comments
Business & Economy
Nigeria to Host Global Summit as It Leads Fight Against Sickle Cell Disease
Nigeria has reaffirmed its dedication to tackling sickle cell disease (SCD), with Abuja set to host the Global Congress on Sickle Cell Disease from June 3 to 6, 2025. Obiageli Nnodu, chairperson of the local organising committee, highlighted Nigeria’s critical role in the global fight, given its status as
May 7, 2025
No Comments