Category: Africa
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ECOWAS adopts Eco as single currency for sub-region
Beginning in January 2020, countries within the West African sub-region will be able to use a single currency called ECO. The currency was adopted by the Authority of ECOWAS Heads of State and Government on Saturday in Nigeria’s capital Abuja. The West African leaders endorsed the currency at their 55th Ordinary Session and approved a…
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![[AUDIO] Don’t learn our bad example, former central bank of Nigeria boss begs Ghana](https://citibusinessnews.com/wp-content/uploads/2019/06/Soludo-1.jpg)
[AUDIO] Don’t learn our bad example, former central bank of Nigeria boss begs Ghana
A former Governor of the Central Bank of Nigeria, Prof. Charles Soludo has cautioned Ghana to consider investing revenue from natural resources into capital investments that will be beneficial to other generations. Prof. Soludo, who was speaking at a forum held to commemorate the first anniversary of the passing of former Vice President Kwesi Amissah…
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ECOWAS partners EU on combating piracy and maritime criminality
The Commission of Economic Community of West African States (ECOWAS) has developed measures to intensify effort towards combating piracy and other maritime criminality with the support of development partners. A statement from the Commission said development partners such as the European Union (EU), United Nations Office on Drugs and Crime (UNODC), and the governments…
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Ecowas set to adopt common measuring instruments to harmonise standards
Plans to harmonize standards of measurement of products manufactured and consumed within the West African region have seen some progress. This follows the drafting of a document for the calibration and verification of measuring instruments. Countries within the ECOWAS region that agree to sign the document will be expected to use the same instruments recognized…
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Consult extensively to ensure Ghana benefits from AfCFTA – Dr. Graham
The Third World Network, a pan-African research and advocacy organisation has charged government to exhaust all avenues for consultation with key stakeholders in the economy, to ensure that Ghana does not lose out following the coming into force of the African Continental Free Trade Area agreement on May 30, 2019. Ghana’s Parliament in April 2018…
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Be more vigilant to protect government’s revenue – Mining Stakeholders
Two former Chief Executive Officers of the Minerals Commission have warned that successive governments will continue to lose revenue from the mining sector if the appointment of directors to boards of mining companies continues to be politicized. The Vice President, Dr. Mahamudu Bawumia in May last year strongly indicated that government will not accept the…
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Global partners announce US$61.8m to boost African Development Bank initiative for women entrepreneurs
The Governing Committee of the Women Entrepreneurs Finance Initiative (We-Fi) has approved a funding allocation of US$61.8 million for the African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program. We-Fi is a partnership among 14 donor governments, eight multilateral development banks, and other public and private sector stakeholders, established in October 2017…
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J.A. Kufuor named on MTN’s International Advisory Board
Former President John Agyekum Kufuor has been named on MTN’s International Advisory Board (IAB) alongside former South African President Thabo Mbeki. A statement issued by the telecoms company said the advisory board is a new creation with a goal to guide and support MTN in fulfilling its vision of increasing its footprint across the continent.…
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Gold worth billions smuggled out of Africa–Report
Billions of dollars’ worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East – a gateway to markets in Europe, the United States and beyond – a Reuters analysis has found. Customs data shows that the UAE imported $15.1 billion worth of gold from Africa…
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World Bank provides over $200m to help increase access to electricity in W/A
The Board of the World Bank Group approved on April 17, 2019 the Regional Off-Grid Electrification Project (ROGEP), which includes $150 million in the form of credit and grant from the International Development Association (IDA) and $74.7 million contingent recovery grant from the Clean Technology Fund to help the West African Development Bank and ECOWAS’…