Business and Finance

By the year 2025, Nigeria could see a staggering 33 million individuals grappling with severe food scarcity—almost double the current figures for those in dire need. This dire situation stems from a confluence of economic challenges, soaring inflation, the effects of climate change, and the ongoing violence that plagues the northeastern regions of the country. In the northwest, specifically in Borno, Adamawa, and Yobe, over five million people currently experience acute food insecurity, and the crisis is anticipated to…

In a recent move, the Zimbabwean government has mandated that administrators of WhatsApp groups within its jurisdiction must register and obtain a license from the Post and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ). This development is not just a bureaucratic tick-off; it reflects significant shifts in the country’s regulatory landscape. POTRAZ has set a minimum licensing fee of U.S.$50, but this amount could skyrocket to as high as U.S.$2,500, depending on the group's nature and size. The authorities…

The Earthshot Prize, initiated by Prince William in 2020, stands out as a groundbreaking environmental accolade, striving to tackle the pressing issues of climate change, air pollution, and the decline of biodiversity. This year, Africa has been chosen as the venue for the prestigious Earthshot event, shining a spotlight on the continent's vital role in enhancing climate action and addressing the most daunting environmental challenges that our world contends with today. "When I created the Earthshot Prize, my aim was to…

Leaders from the Common Market for Eastern and Southern Africa (COMESA) are being called upon to engage in crucial conversations aimed at halting the violence in the eastern part of the Democratic Republic of Congo, while also exploring strategies to safeguard civilians caught in the turmoil in Sudan. These discussions are set to unfold at the forthcoming summit in Burundi. "This summit presents a vital platform for African leaders to confront the ongoing crises in Congo and Sudan, among others. They must create tangible,…

This week, leaders from the Commonwealth, a global organization primarily comprised of former British colonies, have convened in the picturesque Pacific island nation of Samoa. After two decades of waiting, it’s Africa’s turn to fill the Secretary-General role. However, the agenda is igniting debate, particularly regarding the contentious topic of reparations. In the spotlight are three contenders fiercely competing for the esteemed position: Ghana's Foreign Minister, Shirley Ayorkor Botchwey; the erstwhile trade and…

Kawu Sumaila has stepped into the role of Chairman for the Senate Committee on Petroleum Resources (Downstream) and is already raising crucial questions about Nigeria's level of transparency in the oil sector. Taking over this position after the untimely passing of Senator Ifeanyi Ubah, Sumaila shared his vision for combating the pervasive secrecy that seems to cloak the industry like a heavy fog. Historically, Nigeria’s oil industry has faced harsh scrutiny due to its lack of transparency. This sector is not just vital;…

In a groundbreaking development, the World Health Organization (WHO) has officially reported that Rwanda is spearheading the world's inaugural clinical trial aimed at treating the Marburg virus disease. Dr. Matshidiso Moeti, the WHO Regional Director for Africa, emphasized the collaborative effort with the organization, which involves testing a medication currently employed for COVID-19 management—Remdesivir—alongside an antibody specifically engineered to combat the Marburg virus. “This initiative showcases our collective…

The latest provincial election results strongly suggest that Daniel Chapo, representing the ruling Front for the Liberation of Mozambique (Frelimo), is on track to clinch victory. According to initial tallies, Frelimo is in front across all eleven provinces. Nevertheless, election monitors are expressing skepticism about the fairness of the process, claiming it fell short of international standards. Reports are filtering in about chaotic ballot counting, ballot boxes that weren’t secured properly, allegations of vote…

Tragedy struck in the northwestern region of Nigeria’s Jigawa state, where a catastrophic fuel tanker explosion has claimed the lives of over 90 individuals. Eyewitness accounts reveal that crowds had gathered around the tanker in the aftermath of the accident, driven by desperation to siphon off fuel when disaster struck. “It's concerning that, despite repeated warnings from law enforcement urging the public to maintain a safe distance from fuel tanker mishaps, people continue to jeopardize their safety,” expressed a…

The government has announced an ambitious 25-year development strategy designed to enhance competitiveness, promote sustainable resource management, and uphold exemplary governance, establishing a foundation for economic autonomy. Dubbed "Senegal 2050," this initiative aspires to raise per capita income by an impressive 50% over the next five years. There’s also a goal to extend the average life expectancy by three years and to mitigate national debt and fiscal deficits. The overarching intention is to diminish reliance on…