The latest edition of The Banker’s Top 100 African Banks for 2024 provides insights into the performance of financial institutions across the continent. Ghana’s top banks maintain strong Tier 1 capital positions despite economic challenges and currency depreciation Profitability among ranked African banks remains buoyant, with an aggregate pre-tax profit of 18.2% Absa Bank Ghana…
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While importers and marketers debate the price changes, many Nigerians are taking advantage of the lower prices. Consumers have been patronizing Dangote partner stations, which offer cheaper petrol. Dangote refinery reduced the ex-depot price of petrol from N890 to N825 per litre. The price reduction is intended to ease the financial burden on Nigerians. Petrol…
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The Chargé d’Affaires of the United States consulate in South Africa, Dana M. Brown, has resigned from the U.S. State Department. Dana M. Brown has resigned as the acting Chief of Mission at the U.S. consulate in South Africa The resignation comes amid escalating diplomatic tensions between the U.S. and South Africa South African President…
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National carrier Kenya Airways (KQ) has suspended all flights to Mauritius due to worsening weather conditions caused by an approaching tropical cyclone. Kenya Airways has suspended all flights to Mauritius due to the approaching tropical cyclone Flights to Mauritius will remain suspended indefinitely until conditions stabilize due to safety concerns Cyclone Garance is expected to…
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Nigeria’s 650,000 b/d Dangote refinery has acquired its first cargo of Algeria’s Saharan Blend crude, a premium light sweet crude, from trading firm Glencore. Dangote refinery in Nigeria acquires first cargo of Algeria’s premium Saharan Blend crude from Glencore The deal signals a shift toward emerging markets and diversification of crude supply for Dangote refinery…
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Oando PLC, a Nigerian oil giant, has been announced as the preferred bidder for the ownership of the 165,000 barrel-per-day refinery in Trinidad and Tobago. Oando PLC announced as the preferred bidder for Trinidad and Tobago’s 165,000 barrel-per-day refinery Decision based on Oando’s financial track record and $1.5 billion acquisition of ConocoPhillips’ assets in Nigeria…
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