Business & Economy

Capital markets, financial institutions, macroeconomic indicators, industry performance, trade, investment, enterprise, and regulatory actions.

New Integrity Principles Seek to Unlock Green Finance in Africa’s Carbon Market

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New Integrity Principles Seek to Unlock Green Finance in Africa’s Carbon Market

As global momentum behind carbon markets intensifies, the African continent is positioning itself to play a leading role — under a newly announced framework designed to ensure credibility, equity, and sustainable benefit for communities and economies.   Continent-wide push for high‑integrity carbon markets On July 31, 2025, the African Union Development Agency – NEPAD (AUDA‑NEPAD) unveiled a set of landmark “Integrity & Equity Principles for Carbon Markets” during a high-level dialogue in Nairobi. The initiative…

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Nigeria Eyes Renewed Investment as Economy Shows Robust Growth

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Nigeria Eyes Renewed Investment as Economy Shows Robust Growth

Nigeria’s recent recalibration of Gross Domestic Product (GDP) data has provided fresh momentum for investors and policymakers, as the updated numbers reveal a stronger, more diversified economy — and renewed opportunity for growth across sectors. According to the latest data from the National Bureau of Statistics (NBS), the base year for GDP calculation was shifted from 2010 to 2019, reflecting structural changes and the growth of emerging sectors. The recalibration increased the 2024 GDP estimate…

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Shell to Lead Offshore Drilling in South Africa’s Block 2C

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Shell to Lead Offshore Drilling in South Africa’s Block 2C

Pretoria, December 8, 2025 – South Africa’s legacy national oil company, PetroSA, has approved a landmark agreement granting Shell Offshore a 60 percent working interest in Block 2C, located off the country’s west coast in the promising Orange Basin. The deal marks a major shift in offshore exploration strategy and significantly expands Shell’s footprint in one of Africa’s hottest potential hydrocarbon regions. Under the farmin arrangement, Shell will pay a USD 25 million signing bonus…

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Nigeria’s New Cash Withdrawal Caps Signal a Stronger Push Toward Cashless Economy

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Nigeria’s New Cash Withdrawal Caps Signal a Stronger Push Toward Cashless Economy

Abuja — The Central Bank of Nigeria has introduced new cash withdrawal limits that will take effect on 1 January 2026, marking one of the most significant shifts in the nation’s cash management policy in recent years. The revised framework limits individual account holders to weekly cash withdrawals of up to six hundred thousand naira, while corporate organisations will be capped at five million naira per week. Withdrawals that exceed these thresholds will attract processing…

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Nigeria Clears $128 Million Gas Debts to Reinforce Power-Supply Chain

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Nigeria Clears $128 Million Gas Debts to Reinforce Power-Supply Chain

Abuja — In a major move aimed at stabilising Nigeria’s troubled electricity sector, the federal government has approved payment of 185 billion naira (approximately USD 128 million) to settle long-standing debts owed to natural gas producers supplying power generation companies (GenCos). The decision, endorsed by the National Economic Council (NEC), chaired by the Vice President, follows a directive from Bola Tinubu to clear legacy arrears that have undermined investment, strained cash flow, and restricted gas…

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