Author: Elidee Mays

Ghana anticipates receiving $1.15 billion in funding from the International Monetary Fund and the World Bank by the end of February as bilateral creditors approach an agreement on the terms of a debt restructuring.  Finance Minister Ken Ofori-Atta expressed confidence that official creditors will reach a memorandum of understanding in a meeting scheduled for Jan. 8, stating this in a phone conversation with Bloomberg on Friday. The agreement would pave the way for the IMF executive board to assess Ghana’s performance under a program initiated in May and approve a $600 million disbursement, constituting the second tranche of its $3…

Rabat – Kuwaiti franchise operator Alshaya Group has denied the exit of Starbucks and H&M stores from the Moroccan market. A spokesperson from the group expressed commitment to the group’s business in Morocco, stressing that the operator will continue to operate H&M and Starbucks stores in the country. The spokesperson further clarified that the group is constantly reviewing its portfolio to ensure it has the right stores in the right places for its clients. “We believe in the long-term success of the brand [H&M] and while we continue to look for opportunities to maximize its potential, there may be some changes to our stores…

President Bola Ahmed Tinubu has warned private companies and public servants cutting corners in the solid minerals sector to stop or face the wrath of the law. President gave the warning while addressing participants at the 2nd edition of the three-day Africa Natural Resources and Energy Investment Summit (AFNIS) in Abuja on Tuesday. Noting that the government welcomes genuine investors who share the administration’s vision, he stressed that it would punish economic saboteurs hindering ease of doing business and efforts to enable the sector to support the transformation of the economy. Source : DP

Nigeria’s oil earnings rose by over N273.8bn in September 2023 following the rise in crude oil production. The Nigerian Upstream Petroleum Regulatory Commission data indicated that Nigeria pumped 40,396,863 barrels of crude oil (excluding condensates) last month. The figure was higher than the 36,615,125 barrels of crude produced in August, which implied that oil output rose by 3,781,738 barrels in September. According to the industry data, the average cost of Brent crude in September was $93.72/barrel. With 3,781,738 barrels in September at an average cost of $93.72/barrel, Nigeria’s oil earnings increased by more than $354.42 million, representing N273.8 billion, at…

Four people were killed and many others were injured in a stampede on Friday during National Heroes’ Day celebrations on Mashujaa Day in the western Kenyan city of Kericho, police said. The incident occurred at around 03:00 local time when a woman selling tea outside the Kericho Green Stadium accidentally spilled some on a fire, causing a stampede as a large crowd waited to enter the stadium for the festivities scheduled for the morning. The injured were rushed to Kericho County Referral Hospital, where four people died, police said in a statement, adding that all were women whose identities have…

The Ogun State Police Command said three of its Inspectors were caught on camera extorting commercial motorcyclists. The command identified the officers as Inspector Ikhanorba Lucky, Inspector Paul Sunday, and Inspector Edwin Ekeogu. A statement by the Police Public Relations Officer, Omolola Odutola, said the Inspectors, on October 19, were involved in “an incident of professional misconduct while on visibility policing duty at Maawu Bus stop in Agbado area of the State.” Odutola explained that, “These officers were caught on camera flagrantly extorting money from commercial motorcyclists in contravention of the Police Act and Regulations.” She added that the “inappropriate…

Morocco and the United Arab Emirates have cemented their commitment to combating the mounting challenges posed by the digital age by signing a Memorandum of Understanding (MoU) for cooperation in cybersecurity. The two countries signed the agreement on Thursday at the GITEX Global 2023 event in Dubai, emphasizing the significance of global cybersecurity partnerships. The MoU brings together the Directorate General of Information Systems Security Management of the National Defense Department of the Kingdom of Morocco and the UAE Cybersecurity Council, pledging a united front against cyber threats. Souhail Bouslichen, the Chargé d’Affaires of the Embassy of the Kingdom of…

In Malawi, the government has been working for several years to ensure that people have access to clean water. To this end, the National Water Resources Authority (NWRA) recently launched a nationwide hunt for illegal boreholes. The individuals and institutions concerned must declare their installations before 24 November 2023. Will Malawi succeed in breaking the vicious circle of illegal drilling? The National Water Resources Authority (NWRA) is confident that it will. The public body recently launched a hunt for illegal boreholes across the East African country. “Individuals and institutions will have to declare their illegal installations to the NWRA before…

The Obi of Onitsha, Mr Nnaemeka Alfred Achebe, is leaving as the chairman of the board of Unilever Nigeria Plc, a statement from the organisation has revealed. The prominent traditional ruler is resigning from the position after being on the board of the firm for over 20 years. According to the notice signed by the company secretary, Mrs Afolasade Olowe, the monarch will cease to be a non-executive director and chairman of the leading consumer goods company from December 31, 2023. He was first appointed to the board in March 2003, according to the disclosure made available by the Nigerian…

Uganda’s President Yoweri Museveni says security forces are on the trail of an ISIS-linked rebel group blamed for the killing of two foreign newlyweds celebrating their honeymoon at a popular tourist destination in the country. The couple was killed Tuesday alongside their local safari guide at the Queen Elizabeth National Park in southwestern Uganda, police said, adding that the victims’ vehicle was also set ablaze by their killers. Uganda’s Wildlife Authority said the newlyweds were British and South African nationals but did not provide their names. It added that the national park was “safe and secure” for visitors despite the…