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Magatte Wade: The Woman Raised To Criticize By Creating

For a young Senegalese girl who was told by her father: “Do not come to me with problems, unless you thought of a couple of alternatives. They don’t have to be right but I just want to know that you thought of something.” The young girl grew up becoming a woman that represents beyond what …

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Africa Finance Corp: AFC Secures New International Funders

The Africa Finance Corp, simply AFC, has recently received funding in Africa, from Middle East, and Asia. The development-finance corporation was founded in 2007 and has invested over $9.8 billion in projects in 35 African countries. AFC’s major projects deal with improving and developing infrastructures across the continent. As Africa seeks to recover from the …

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NESG Values Three African Digital Startups At $1bn

NESG Values Three African Digital Startups At $1bn

The Nigerian Economic Summit Group known as NESG has valued three out of four digital startups to discover the assets amounted to over a billion dollars. According to Mr Asue Ighodalo, the Chairman of NESG who announced this week during the 27th Nigerian Economic Summit, the startups were founded by young Nigerian entrepreneurs. He added …

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African Development Bank VP Resigns

The African Development Bank has revealed that it’s vice president foragriculture, human and social development, Jennifer Blanke, will stepdown from her present position by next month.Business News Report has it that Blanke will be resigning to join herfamily in Switzerland, as opposed to the media speculations which saythat she is resigning in response to the …

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COVID-19: World Bank, IMF, G20, Paris Club suspend debt service

Four global multilateral institutions – World Bank, International Monetary Fund, G20 and Paris Club – yesterday agreed to a time-bound debt service payment suspension for world’s poorest economies that request forbearance. IMF Managing Director, Kristalina Georgieva, who broke the news yesterday said the move was the first time that the four institutions agreed to suspend …

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Nigeria seeks $3.5bn from IMF, AfDB to support implementation of 2020 budget

The Federal Government says it has applied for $3.5 billion request from International Monetary Fund (IMF) and African Development Bank (AfDB) to access concessional funding to support the implementation of the 2020 Budget. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed disclosed this during a news conference on fiscal stimulus measures in …

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Nigeria’s total public debt rises to N27.4tn

The Nigerian Government and the 36 component states, as well as the Federal Capital Territory, owed a total N27.4tn as of December 2019, according to latest figures released by the country’s Debt Management Office(DMO) last Wednesday. The development marked an increase in Nigeria’s public debt portfolio from September 2019, when it was disclosed that the …

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Nigeria’s Central Bank, Dangote plan N120bn COVID-19 fund

The Central Bank of Nigeria and the private sector, led by Aliko Dangote Foundation and Access Bank, have announced plans to set up a coalition aimed at raising N120bn towards the fight against COVID-19 in Nigeria. Godwin Emefiele,the governor, Central Bank of Nigeria, said at a press briefing in Lagos on Thursday that the Nigerian …

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AfDB to support Africa’s economies with $3bn COVID-19 bond

The African Development Bank has raised $3bn in a three-year bond to help alleviate the economic and social impact the COVID-19 pandemic will have on livelihoods and Africa’s economies. It said in a statement last Friday that the Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank …

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Nigeria may slide into recession in six months –Finance minister

Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has warned that the Nigerian economy may slide into recession if the coronavirus pandemic continues for the next six months. She stated this during her appearance on Nigeria’s Channels Television programme, Politics Today where she spoke on steps being taken by the government cushion …

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