Articles

  • 2 weeks ago | bloomberg.com | Prinesha Naidoo |Emele Onu |Jennifer Zabasajja

    Tony Elumelu(Bloomberg) -- Nigeria’s currency has been stable in recent months, allowing investors to better plan for activities in Africa’s most populous nation, according to tycoon Tony Elumelu.   The naira has hovered between 1,588 and 1,611 per dollar this month, after facing recurrent volatility from 2023 because of devaluations intended to lure inflows and end dollar shortages in Nigeria.

  • 2 weeks ago | bloomberg.com | Anthony Osae-Brown |Jennifer Zabasajja |Joumanna Bercetche

    Aminu Umar-Sadiq in Doha, on May 20. (Bloomberg) -- Nigeria’s sovereign wealth fund reduced its exposure to the US at the beginning of this year and bought other investments to diversify its portfolio.

  • 3 weeks ago | bloomberg.com | Fred Ojambo |Jennifer Zabasajja

    (Bloomberg) -- The Bank of Uganda has bought $1.5 billion from the market this fiscal year and used currency swaps to rebuild its foreign-exchange reserves after they were drained by an aid freeze and debt repayments. “We have taken extraordinary measures,” Governor Michael Atingi-Ego said in an interview with Bloomberg TV.

  • 3 weeks ago | bloomberg.com | Jennifer Zabasajja |Kamailoudini Tagba |Ekow Dontoh

    John Mahama(Bloomberg) -- Ghana is encouraging investors to get the country’s crude out of the ground to avoid the assets from getting stranded amid a global decarbonization push. The government is ready to roll out the “red carpet” to any investor prepared to drill and pump crude, President John Mahama said at the Africa CEO Forum in Abidjan, Ivory Coast’s commercial capital, on Tuesday. “Oil is in transition and so anybody who has any assets should be pumping like there’s no tomorrow,” he said.

  • 1 month ago | bloomberg.com | Mike Cohen |Jennifer Zabasajja

    John Steenhuisen(Bloomberg) -- The leader of South Africa’s Democratic Alliance said his party remains committed to being part of the nation’s coalition government despite ongoing wrangling over key policies and legislation, and has no intention of walking away.   “We’re not going to leave the government of national unity,” and that view is shared by the DA’s entire top leadership, John Steenhuisen said in an interview in Bloomberg’s Johannesburg offices on Friday.

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