Category: West Africa
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GUTA seeks inclusion in engagements to resolve Nigeria border closure
The Ghana Union of Traders’ Association (GUTA) says it wants to be part of ongoing stakeholder engagements between the Ghanaian and the Nigerian governments over the closure of the Nigerian border it shares with Benin. According to the group, they believe this will be the best solution to amicable and peaceful trade relations among the…
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![[Article] Winning Women of Wine](https://citibusinessnews.com/wp-content/uploads/2019/10/red-wine-toast.jpg)
[Article] Winning Women of Wine
The atrocities that women face in their daily lives especially in the world of work have been well documented. According to the United Nations Development Programme (UNDP), in 2014, Africa ‘lost’ up to $105 billion from gender gaps in labour markets alone, almost 6% of all production. From sexual harassment, intimidation, to sheer humiliation, the…
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Nigeria begins talks with major oil firms over oil revenue dispute
The Nigerian government and international oil companies are trying to find common ground on a dispute over oil revenues. Citing a 2018 Supreme Court decision, the government says it is entitled to $62 billion from companies after they failed to comply with a 1993 law that gives the state a larger share of revenues when…
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Nigeria signs 30 trade deals with South Africa …as Buhari seeks safety for Nigerian businesses
Africa’s two biggest economies put a recent xenophobia incident behind and signed 30 trade and cooperation agreements on Thursday. The signing of the trade agreements by Nigeria and South Africa, which took place at the end of a two-day visit by President Muhammadu Buhari in the wake of a xenophobic attack on Nigerians and other…
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Selling added value: The case of Wines of South Africa
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The importance of agriculture in Africa’s development agenda, as a driver of economic growth, transformation and in helping end hunger has been reiterated over the years if not decades. The 2014 Malabo Declaration for example and the re-commitment to the principles of the Comprehensive Africa Agriculture Development Program (CAADP) (which is Africa’s policy framework for…
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Nigeria, Benin in trade dispute two months after signing ACFTA
Two West African countries, Nigeria and Benin are embroiled in a trade dispute two months after signing an agreement to free up the movement of goods and services in Africa. Nigerian President Muhammadu Buhari ordered the partial closing of its border with Benin last month to curb smuggling of rice and other commodities. The blockade…
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MTN Nigeria is about to become a bank
The fledgling mobile money market in Nigeria is about to get a major shake-up. MTN Nigeria, the country’s largest telecoms operator, has been granted a “super-agent” license which allows it to set up an agent network through which it can provide financial services. It’s the first step in MTN’s plans to finally roll out mobile money…
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Benin modernizing its port to overtake Ghana, Togo and Cote d’Ivoire
Benin is making efforts in re-investing in its major port in its capital Cotonou. The change had been slow but consistent over the past several years aimed at making the harbour competitive. The 300-hectare transit port is in a highly competitive sector and region, especially with the overall growth of trade in West Africa. Port…
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Ten Turkish sailors seized by pirates off Nigerian coast – shipping company
Ten Turkish sailors were taken hostage by armed pirates off the coast of Nigeria early on Tuesday, shipping company Kadioglu Denizcilik said, adding that another eight sailors were safely aboard the ship. Kadioglu said its Turkish-flagged Paksoy-1 cargo ship was attacked in the Gulf of Guinea as it sailed from Cameroon to the Ivory Coast…
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ECOWAS not ready for ECO currency in 2020—Prof. Quartey
Economist Professor Peter Quartey is of the view that ECOWAS is not ready for the common currency, ECO, which is scheduled to start circulating next year. Prior to the commencement of the circulation of the currency, ECOWAS member states are expected to meet common criteria comprising primary and secondary ones. Though the Heads of State…