The Board of Directors of African Export-Import Bank (Afreximbank) has approved a US$10 billion Gulf Crisis Response Programme (GCRP) facility to help African and Caribbean economies to counter the severe economic shocks triggered by the escalating conflict in the Middle East. Dr. George Elombi, President and Chairman of the Board of Directors at Afreximbank, announced…
UN Trade and Development UNCTAD says that Strait of Hormuz disruptions has started weakening developing country currencies. UNCTAD, in its monitoring of changes in exchange rates against the dollar since the start of the military escalation (28 Feb 2026) till March 26, also said that the closure of the shipping line have started weakening global…
UNIDO and WTO are mobilising USD5 billion in investment over a 10-year period, to establish modern textiles and garment industry across West and Central Africa. Ngozi Okonjo-Iweala, WTO Director-General, disclosed during the WTO 14th Ministerial Conference. “Today, around 98 percent of the region’s cotton is exported as raw fibre, although the region has the potential…
Photo from left: Governor, Central Bank of Egypt and Board Member, Afreximbank, Hassan Elsayed Hassan Abdalla; President and Chairman of the Board of Directors, Afreximbank, Dr George Elombi; President/Chief Executive, Dangote Industries Limited, Aliko Dangote; and former President and Chairman of the Board of Directors, Afreximbank, Prof Benedict Oramah. ” African Export-Import Bank has committed…
Aluminium prices climbed around six per cent in early trading on Monday after Iran attacked two major plants in the Gulf that produce the widely used metal, raising concerns over supply disruptions, according to AFP. Gains later reduced, though prices were still up 4.2 per cent at $3,435 per tonne on the London Metal Exchange….
OPay has officially launched its new office in Jos, Plateau State. Speaking at the event, OPay’s Chief Operations and Technology Officer, Dotun Adekunle, said that the new Jos office reflects OPay’s continued commitment to putting customers first and advancing financial inclusion across Nigeria. He said :” Our customers are at the center of everything we do….
The Chartered Institute of Bankers of Nigeria, (CIBN) has elected Dele Alabi, as the 24th President and Chairman of Council. The election took place during the Institute’s Annual General Meeting on Saturday in Lagos. In his acceptance speech , Alabi emphasised that the mandate was not merely a personal milestone but a collective responsibility that…
• Ademola Akogun Zedcrest Group, a leading financial services company, has taken a significant step in its strategic expansion with its Board’s approval of Ademola Akogun’s appointment as Managing Director, Investment Banking. This milestone follows the successful acquisition of the company’s Issuing House license, marking a pivotal expansion of its capabilities. With this, Zedcrest is…
The Manufacturers Association of Nigeria (MAN) says that the disruptions to the Strait of Hormuz – the global shipping routes occasioned by the US middle East War, have started arriving on the doorsteps of domestic factories in Nigeria. The sectoral groups being mostly impacted are Chemical and Pharmaceuticals including the Food, Beverage and Tobacco Industries….
Ultimum Limited, the manufacturers of Razzl brand of carbonated soft drinks has commissioned its state-of-the-art beverage manufacturing plant in Aba, Abia State. Razzle beverages include Razzl Pamplemousse (a unique and special grapefruit flavour), Razzl Cola, Razzl Orange, and Razzl Lemon. Otti described the investment as a clear signal of economic revival and growing investor confidence…
