Chinese multinational company, Shandong Ruyi Technology Group Co., is set to invest $600 million in the textile and garment industry in Kano state, according to Isyaku Umar Tofa, the chairman of the state Investment Promotion Agency. Tofa disclosed this during the presentation of Certificates of Occupancy to two investors, by the state governor in Kano. According to him, talks are...

Dangote Group plans to increase its sugar production to 1.5 million metric tons a year by 2020 from the current 100,000 tons. It also plans to add 1 million tons of rice to current production and have 50,000 cattle producing 500 million liters of milk a year by 2019. To this end, the company will be investing $3.8 billion in sugar and rice and another $800 million in dairy production...

The Nigerian Minister of Finance, Kemi Adeosun (photo), on Tuesday said the country must not borrow more to fund the 2017 budget but should instead raise money by other means. The Finance Minister said this while speaking at a business forum in Abuja. She said: “We cannot borrow anymore, we just have to generate funds domestically enough to fund our budget. Mobilize revenue to fund the...

26 years after its first land conference, Namibia is preparing to hold a second summit of the kind scheduled for next September. According to Agence de presse africaine (APA) which disclosed this, the next conference will focus on land reform. “Land Reform Minister Utoni Nujoma on Monday launched regional consultations on the second land summit and called on Namibians to provide inputs about...

UNESCO has added to its World Heritage list the W-Arly-Pendjari (Wap) Complex, according to a statement released by the UNESCO World Heritage Committee last Friday. This natural reserve spans across three nations, namely: Niger, Benin and Burkina Faso. It is the largest protected reserve of West Africa. For the UNESCO World Heritage Committee, the Wap complex “includes the largest and...

The International Monetary Fund (Fund) forecast a 2.3% growth for the Tunisian economy this year after a relatively sluggish year in 2016. The new forecast will be mainly driven by the tourism and phosphate sectors. Yet, the Bretton Woods institution stresses on the fragility of the economy of this country which is currently experiencing a particularly complex socio-political situation. The...

In Africa, 1 out of 14 jobs is in the tourism industry. This represent a total workforce of 21 million people. This was revealed in the United Nations Conference on Trade and Development (UNCTAD) Economic Development in Africa Report 2017, focused on “Tourism for transformative and inclusive growth". According to the report, from 1995 to 2014, international tourist arrivals on the continent...

On July 7, 2017, populations of Dodel and Demett in Senegal have marched to protest against land grabbing in the communities. Indeed, the Dodel municipal council on March 24 this year has sold 10,000 ha of agricultural lands to Moroccan billionaire Anas Safrioui, head of Afri Partners, for two billion cfa only. According to last Friday’s protestors, this deals threatens the source of living...

Recently established offshore drilling company, Borr Drilling says it has received a letter of commitment from Total E&P for the employment of its Frigg jack-up drilling rig in Nigeria. According to the company, Total will use its rig for one-year starting from Q3 of 2017 and has an option to extend the contract. “We are proud to have secured our first commitment with a super major. We have...

The European Union (EU) has said that it is willing to help Nigeria attract more investment, according to Michell Arion (photo, right), EU Ambassador and Head of EU delegation to Nigeria. “We believe that our prosperity is your prosperity, we see West Africa as a block of ECOWAS and Nigeria as the economic base. We see West Africa not as export designation for the EU but investment destination...