Africas

Dangote Advocates for Ban on Petroleum Product Imports at Global Commodity Insights Conference During a recent address at the Global Commodity Insights Conference in Abuja, organized by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in collaboration with S&P Global Insights, renowned businessman Aliko Dangote highlighted a crucial point: petroleum products deserve a spot on the list of banned imports in Nigeria. His remarks didn't merely reflect a personal opinion—rather, they echoed the…

Ladi Olubowale, the President of the African Shipowners Association in Nigeria, recently shared insights with Punch regarding the troubling situation in Nigeria's maritime industry. Specifically, he expressed concerns about the Dangote Group’s decision to rely on foreign fleets for substantial cargo operations. This situation stemmed from a significant shortage of local vessels currently capable of handling the scale required. “The reality is that the narrative surrounding this issue is straightforward; the…

The Challenges of Nigeria's Maritime Industry: A Closer Look In a recent statement, Ladi Olubowale, the President of the African Shipowners Association based in Nigeria, raised significant concerns regarding the local maritime industry. He noted that the Dangote Group's decision to opt for foreign vessels is rooted in a distressing scarcity of Nigerian ships capable of handling large-scale cargo operations. As he shared his insights with Punch, one couldn't help but wonder: how did we arrive at a point where our own…

African Copper Exports: Unpacking Potential and Opportunities In examining the landscape of Africa's copper exports, a rather startling statistic emerges: just 42 countries together account for a mere 2% of Africa’s copper export value. This underscores a significant disparity in how the continent's rich mineral wealth is distributed. Despite vast resources, many nations seem to lack full access to the economic benefits derived from copper and other metals. Thus, one can't help but ask: how can Africa leverage its…

Aliko Dangote, recognized as Africa’s wealthiest individual, has stepped down from his role as Chairman of the Board of Directors at Dangote Cement Plc. This transition symbolizes not just a shift in leadership, but the close of an illustrious chapter for one of the continent’s most significant cement manufacturers. Succession planning is critical in any corporate environment. In a recent announcement from Premium Times, we learned that Emmanuel Ikazoboh, the newly appointed chairman, will now steer the…

The Luxury Revolution in Africa: A New Era of Exclusive Getaways Imagine a sun-drenched private island off the coast of Tanzania, where the azure waters meet pristine beaches, and your every whim is indulgently catered to for a staggering nightly rate of around $50,000. Guests enjoy exclusive access to luxurious villas, a private catamaran, and helicopter transfers—all nestled within a protected marine reserve. This spectacular destination is not merely a utopian fantasy; it is a tangible embodiment of Africa's rapidly…

Ivory Coast, known as the world's largest cocoa producer, is a country deeply intertwined with the chocolate industry, especially for consumers in Europe. Approximately two-thirds of the cocoa harvested in this West African nation finds its way to European shores, fueling a booming market that many might take for granted as they enjoy their favorite chocolate bars. But behind this rich industry lies a more complex narrative—one fraught with environmental impacts and social issues. The tale of cocoa farming, unfortunately,…

Exploring Africa's Luxury Hospitality Boom Imagine a private island nestled off the enchanting coast of Tanzania. Here, guests are willing to pay around $50,000 a night for the exclusive use of a sumptuous villa, a luxurious catamaran, and swift helicopter transfers—all within a protected marine reserve. This idyllic escape isn't just a dream; it symbolizes a burgeoning segment of Africa's luxury hospitality market, which is rapidly gaining momentum. A recent Bloomberg report notes that…

This year's Lagos Startup Week was a vibrant tapestry woven with rich insights and fruitful dialogues, featuring key figures who are pivotal to the startup ecosystem. Among the attendees were Her Excellency Ibijoke Sanwo-Olu, the First Lady of Lagos State—who was capably represented by Oyinkan Osiyemi—and Olatubosun Alake, the Honourable Commissioner for Innovation, Science & Technology. Their presence was complemented by international dignitaries like Michel Deelen, the Consular General of the Netherlands, and…

Angola’s Evolving Debt Dynamics: A Sustainable Financial Future As Angola gears up for the close of the financial year, there’s a palpable sense of cautious optimism within its fiscal corridors. The country’s oil-backed debt to China is projected to decrease to a more manageable range of $7.5 billion to $8.0 billion. This insight comes directly from Dorivaldo Teixeira, the Director of the Debt Management Unit at the Finance Ministry, who stands at the forefront of this fiscal undertaking.…