Global Multilateral Development Banks (MDBs) have reported that in 2022, they committed new record of $60.7 billion to climate finance in low-income and middle-income economies, representing an increase of 46% compared to 2019 investments. A new joint report by the MDBs indicated that out of the amount, $38.0 billion, or 63% was committed to climate […]
Africa Finance Corporation (AFC), the continent’s leading infrastructure provider, and the Solid Minerals Development Fund of Nigeria (SMDF), a Nigerian mining-focused development fund, have partnered aimed at de-risking Nigeria’s mining sector and scaling up artisanal mining activities in the country to an industrial level. The strategic collaboration, which was formalized on Tuesday at the sidelines […]
The newly appointed Executive Vice Chairman (EVC) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, said on Tuesday that he would align the Commission’s regulatory focus to achieve President Bola Tinubu’s agenda to advance the nation’s digital transformation drive. Maida, who made this pledge during his meeting with the Senior Management team of the […]
…..Targets $2Bn Carbon Investments The Niger Delta Development Commission (NDDC) on Tuesday unveiled plans to unlock $2 billion carbon investment in the Niger Delta region using solar power as part of the management’s wider strategy to ensure power supply to communities in the region. The commission’s Managing Director, Dr. Samuel Ogbuku, who was quoted in […]
The Alternative Bank, a new entrant to the non-interest banking industry, has announced its plans to empower its customers and foster financial growth through interest free credit. The bank also is offering a revolutionary Free Credit Line programme, which will enable its customers to access up to 10% of their monthly turnover at zero interest […]
The International Monetary Fund (IMF) has predicted that South Africa’s Gross Domestic Product (GDP) will briefly surpass Nigeria’s in 2024, thereby pushing Nigeria down from its current position as Africa’s largest economy. The Bretton Woods institution, in its World Economic Outlook, projected that South Africa’s GDP would reach $401 billion by 2024 at current prices […]
BudgIT, a civic-tech organization at the forefront of advocacy for fiscal transparency and accountability in Nigeria, has launched the 2023 edition of its annual States of States report with the theme ‘Subnational Healthcare Delivery for Improved Economic Development’. One of the key findings of the report showed that both the national and subnational governments continued […]
Heads of multilateral development banks (MDBs) at the just concluded IMF/World Bank Annual Meetings in Morocco pledged to strengthen their individual and collaborative actions to accelerate inclusive socioeconomic development. Specifically, to achieve a greater impact, the DMBs agreed to explore innovations to scale up financing capacity, boost climate action, strengthen co-financing and catalyse private sector […]
Researchers and investment analysts at Bancorp Securities Limited, one of Nigeria’s leading investment and consulting services providers, have projected that this week the nation’s bourse is expected to experience directional stimulus due to emerging developments in the investment space. Specifically, the analysts in firm’s ‘Weekly Stock Recommendation for Oct 16th-20th 2023’ circulated to our correspondent […]
The chair of the United States’ Securities and Exchange Commission (SEC), Gary Gensler, on Monday urged financial regulators toquickly find a way to manage potential risks posed by the concentration of power in artificial intelligence (AI) platforms to global financial system stability. Gensler warned that without swift intervention, it would become “nearly unavoidable” that AI […]