Articles

  • 6 days ago | bloomberg.com | Emele Onu

    Office workers walk along the marina road in the Central Business District (CBD) of Lagos, Nigeria, on Monday, Aug. 14, 2023. Nigerian President Bola Tinubu has declared a state of emergency to counter the rising cost of living and in early August announced a 500 billion naira package of measures to improve food supply, ease transportation costs and boost manufacturing.

  • 1 week ago | bloomberg.com | Emele Onu

    Heavy traffic surrounds the roads by a market in Lagos. (Bloomberg) -- The state housing Nigeria’s economic hub is engaging the European Union to develop inland waterways as part of an integrated urban-transport system intended to ease gridlock in Lagos, which is also its most populous city. They are due to break ground on the €410 million ($464 million) project in June, the Lagos state government said in an emailed statement Friday.

  • 1 week ago | bloomberg.com | Emele Onu

    A customer hands a vendor a naira banknote to a vendor in Lagos, Nigeria. (Bloomberg) -- Almost half of the currencies in Africa will weaken against the dollar this year, according to the African Development Bank, citing geopolitical strains and domestic economic challenges. The Abidjan-based development institution predicts 21 African countries’ currencies will depreciate against the dollar, with 25 possibly appreciating, out of 54 nations, according to the bank’s Africa Economic Outlook.

  • 1 week ago | news.bloomberglaw.com | Emele Onu

    Blockchain.com, a UK-based crypto exchange, is seeking to expand in African nations that have started to institute rules to regulate the industry. The company is looking to grow in countries including Ghana, Kenya, South Africa, and this quarter is planning a physical office in Nigeria, which is the firm’s “fastest-growing market” in West Africa, according to Owenize Odia, Blockchain.com’s general manager for Africa operations.

  • 1 week ago | news.bloomberglaw.com | Emele Onu

    Blockchain.com, a UK-based crypto exchange, is seeking to expand in African nations that have started to institute rules to regulate the industry. The company is looking to grow in countries including Ghana, Kenya, South Africa, and this quarter is planning a physical office in Nigeria, which is the firm’s “fastest-growing market” in West Africa, according to Owenize Odia, Blockchain.com’s general manager for Africa operations.

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