By Ayomide Otitoju Amazon said late Monday that two of its data centres in the United Arab Emirates were directly struck by drones, disrupting cloud services across parts of the Middle East. The company also disclosed that a facility in Bahrain sustained damage from a nearby drone strike, according to an update posted on its…
By Ayomide Otitoju Nigeria’s net foreign exchange reserves rose sharply by 772 percent over two years, increasing from $3.99 billion at the end of 2023 to $34.80 billion as of December 2025, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, disclosed on Monday. Cardoso’s announcement followed last week’s post-Monetary Policy Committee (MPC) briefing,…
By Ayomide Otitoju Nigerians have commended the President and Chief Executive of Dangote Industries Limited, Aliko Dangote, for establishing what is regarded as the world’s largest single-train refinery, as escalating tensions involving the United States, Israel and Iran rattle global oil markets. The conflict has sent crude prices sharply higher, amid fears of potential supply…
By Ayomide Otitoju Verdant IMAP has announced that it advised Polysmart Packaging Group on the successful close of a $5 million strategic equity investment from an Africa-focused private equity investor. The transaction provides growth capital to optimise operations, improve production efficiency, and support Polysmart’s expansion into one of Nigeria’s most advanced recycled polyethylene terephthalate (rPET)…
By Ayomide Otitoju President of Aliko Dangote, the Dangote Group, has announced plans to expand into steel production, electricity generation, and port development, marking a strategic push to accelerate industrialisation across Africa. Dangote, whose conglomerate already spans cement, sugar, salt, fertiliser, and petrochemicals, said his long-term goal is to deepen Africa’s manufacturing base beyond oil…
By Ayomide Otitoju The Central African Republic (CAR) has taken a historic step in modernizing its public administration with the official launch of the Dûnîa digital platform, marking the first time an entire ministry has been fully digitized, both internally and in cooperation with external partners. Developed for the Ministry of Economy, Planning and International…
By Ayomide Otitoju Vantage Capital, Africa’s largest mezzanine debt fund manager, has invested R635 million in Commercial Energy South Africa (CESA), a subsidiary of SolarAfrica Energy, alongside co-investor Greenpoint Capital. The transaction includes a mezzanine facility used to acquire Inspired Evolution’s stake in CESA, making SolarAfrica the 100% owner of the subsidiary. Headquartered in Pretoria…
By Ayomide Otitoju The African Development Bank Group (AfDB) has approved a €6.5 million investment in the Saviu II fund to support technology start-ups during their seed stage and first institutional fundraising, with a focus on French-speaking Central and West Africa. Under the plan, AfDB will commit €4.5 million as equity and €2 million as…
By Ayomide Otitoju FlashChange, a digital asset management and cross-border payment platform, has announced plans to host a virtual webinar to mark International Women’s Day, (IWD) 2026. Themed “Investing in Women, Investing in Growth,” the event, scheduled for March 7, 2026, will focus on the economic impact of empowering women and advancing financial inclusion across…
