Business and Finance

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…

In the wake of a catastrophic blaze at Mbare Musika, Zimbabwe’s largest informal retail hub, President Emmerson Mnangagwa has instituted a State of Emergency. This decision comes as a response to the widespread devastation that impacted roughly 4,000 vendors, leaving many grappling with the loss of merchandise valued in the thousands. The flames, which raged through the market, not only destroyed goods but also disrupted the livelihood of countless traders. “This unfortunate incident has turned many lives upside down,”…

Yet again, Nigeria's national electricity grid has taken a nosedive, leaving citizens in the dark just a day after power was reinstated. Numerous distribution companies, such as the Enugu Electricity Distribution Company, Eko Electricity Distribution Company, and the Abuja Electricity Distribution Company, have alerted their customers about the latest outage. Although these power firms are reportedly scrambling to restore electricity, the exasperation among the populace and local businesses is palpable, stemming from a…

Tributes are flooding in for Tito Mboweni, the former Governor of the Reserve Bank and South Africa's Labour and Finance Minister, who sadly passed away following a brief illness. He was 65 years old. Mboweni's political journey began in South Africa’s first democratically elected Cabinet, where he held the position of Minister of Labour from 1994 to 1999. He later took the helm as the Governor of the South African Reserve Bank, serving from 1999 until 2009. His tenure in government culminated in his role as Minister of…

In a striking move, the state-run National Handling Services (NHS) has sent several senior executives home amid serious allegations of corruption, ineptitude, and failures in corporate governance. Among those suspended are Godknows Maravanyika, Question Maisera, and Shamiso Nyangairi, who heads the Human Resources department. These individuals face accusations of financial improprieties and mismanagement of company assets. The atmosphere within NHS resembles a stormy sea, as discontent among employees reaches a boiling…

In recent days, a passionate group of environmental advocates filled the streets of Sandton and Cape Town, South Africa, making a resounding call for a boycott of an event known as Africa Energy Week, or Africa Oil Week, happening in Cape Town this week. Following a protest in Cape Town that drew inspiration from horror themes, activist Lisa Makaula had a conversation with Bush Radio’s Renato van Schalkwyk. Makaula emphasized the urgent need for the government to pivot its investments towards renewable energy sources,…