By Ayomide Otitoju The Fund for Export Development in Africa (FEDA), the development equity impact investment arm of the African Export-Import Bank (Afreximbank), has announced a $75 million strategic investment in Spiro, a leading electric mobility company. The investment aligns with Afreximbank’s broader automotive strategy to build integrated manufacturing ecosystems and foster strategic partnerships across…
By Ayomide Otitoju Diageo, the global beverage giant behind Guinness and Smirnoff, has named Dave Lewis as its new Chief Executive Officer as the company seeks to recover from a slump partly attributed to tariffs imposed by former U.S. President Donald Trump. Lewis, currently chairman of consumer healthcare firm Haleon, will assume the role in…
By Ayomide Otitoju President Dr. Sidi Ould Tah of the African Development Bank (AfDB) and Luxembourg Finance Minister Gilles Roth have pledged to deepen cooperation as preparations advance for the seventeenth replenishment of the African Development Fund (ADF-17), the Bank Group’s concessional financing window. The commitment was made during the leaders’ first official bilateral meeting…
By Ayomide Otitoju René Awambeng, Founder and Managing Director of Premier Invest, will speak at the upcoming G20 African Energy Investment Forum in Johannesburg, where global investors, policymakers, and development institutions are set to explore strategies for mobilizing private capital and driving sustainable growth in emerging markets. Awambeng’s participation highlights a growing presence of Africa-based…
By Ayomide Otitoju As Senegal enters a new phase of energy development, Talla Gueye, Director General of Petrosen E&P, the upstream arm of the national oil company Petrosen, has been confirmed as a speaker at the upcoming MSGBC Oil, Gas & Power 2025 Conference and Exhibition, taking place from December 8 to 10 in Dakar,…
By Ayomide Otitoju West Africa’s leading Tier III carrier and cloud-neutral data centre, Rack Centre, has announced the launch of EdgeNext’s Content Delivery Network (CDN) and cloud hosting services in Nigeria. The new services will be hosted at Rack Centre’s state-of-the-art facility in Lagos. With a population exceeding 200 million and one of Africa’s youngest…
By Ayomide Otitoju Equinix, the world’s leading digital infrastructure company, has announced plans to open a new high-performance data center in Lagos, Nigeria — its latest strategic investment in Africa’s fast-growing digital economy. The $22 million project, known as LG3, marks the first phase of Equinix’s broader $100 million investment plan aimed at transforming Africa’s…
By Ayomide Otitoju The move will ramp up competition with Chinese rivals like Shein and PDD Holdings’ Temu in the global race to sell ultra-cheap goods like $10 dresses and $5 accessories. Sweeping import tariffs imposed by U.S. President Donald Trump have dented consumer sentiment, especially for lower-income groups, who often seek out cheaper deals….
By Ayomide Otitoju Fidelity Bank Plc, in collaboration with the Lagos State Waste Management Authority (LAWMA), has donated recycling bins to Yaba College of Technology to promote environmental sustainability and strengthen the institution’s waste management system. Speaking at the handover, Olakunle Rotimi-Akodu highlighted that plastic pollution has emerged as a silent global crisis, emphasizing the…
