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Nigeria: President Buhari approves release of food from strategic reserves of tackle inflation

President Muhammadu Buhari on Wednesday approved the release of food items from the nation’s strategic reserves in a bid to tackle the high cost of food in the country. Senior Special Assistant on Media and Publicity to the President, Garba Shehu, revealed this in a statement in Abuja.He also said President Buhari had expressed concern about …

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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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Chad to settle U.S.$100 million debt to Angola with cattle

In a novel strategy that will attract some curiosity across Africa, Angola has agreed to receive 75,000 cattle from Chad as payment of a $100 million debt from the cash-poor north-central African country.The cattle will be delivered over the next 10 years as repayment for the 2017 debt. Local news report said the first instalment …

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Zambia Launches $81m Farmers’ Scheme

Zambia’s African Green Resources (AGR) on Sunday launched an $81 million financing programme under which the company and its partners will provide farm supplies and technology to farmers in exchange for grain. As part of broader plans by AGR to invest $150 million in Zambia for projects including a 50-megawatt solar farm and irrigation dam, …

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Kenya bans slaughter, export of donkeys to China

After nearly two years of pressure from animal rights organisations, Kenya has banned the commercial slaughter of donkeys in the country. The Brooke, one such international charity that protects and improves the lives of working horses, donkeys and mules around the world, has joined several others to celebrate the development which also comes with economic …

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AU Endorses Adesina for Second Term at AfDB

The Executive Council of the African Union has supported Dr. Akinwumi Adesina’s candidacy for a second term as President of the African Development Bank (AfDB). A statement disclosed that the decision was taken during the 36th ordinary session of the AU Executive Council, held during the AU Summit in Addis Ababa, Ethiopia, earlier this month. …

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Nigeria Eyes $92.84 Billion Global Palm Oil Market

By 2021, the Global Palm Oil Market Worth Is Expected to Hit 92.84 Billion Us Dollars (N33 Trillion), Amounting to Four Times the Nation’s Budget Size of N8 Trillion. According to a Zion Market Research’s new report titled, “Palm Oil Market Analysis by Derivative (palm oil, palm kernel oil, palm kernel cake, and others), and …

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