Afreximbank Signs Landmark Deal for Hydropower Development in the DRC

The African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement to support the development of a 200 MW hydropower project along the Lufira River in the Democratic Republic of Congo (DRC). This marks a significant milestone in advancing renewable energy and green infrastructure in Central Africa.

Dr. Khalid Khalafalla Appointed as CEO of the Islamic Corporation for the Insurance of Investment and Export Credit

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-compliant multilateral insurer under the Islamic Development Bank (IsDB) Group, has announced the appointment of Dr. Khalid Khalafalla as its new Chief Executive Officer, effective 16 December 2024.

CBN Introduces ₦100,000 Daily Cash-Out Limit to Boost Cashless Economy

The Central Bank of Nigeria (CBN) has announced new regulations to enhance Nigeria’s cashless economy, setting daily and weekly cash-out limits for Point of Sale (POS) agents. Effective immediately, the policy introduces a ₦100,000 daily cash-out limit per customer, a ₦1,200,000 cumulative daily limit for POS agents, and a ₦500,000 weekly withdrawal cap for individuals across all banking channels.

Mauritania Secures $150 Million AfDB Loan to Strengthen Mining Sector

The African Development Bank Group (AfDB) has approved a $150 million loan to Société Nationale Industrielle et Minière (SNIM), Mauritania's state-owned iron ore company, to enhance logistics and drive growth in the mining sector.

LG Electronics Showcases Cutting-Edge HVAC Solutions at Lagos Summit

LG Electronics, a global leader in electronics and air solutions, unveiled its latest innovations in HVAC technology at the Annual LG HVAC Consultant Leaders’ Summit in Lagos. Highlighting the Variable Refrigerant Flow (VRF) System and the Multi V 5 air quality solution, the event underscored LG’s commitment to enhancing energy efficiency and air quality in commercial spaces such as hospitals, high-rise buildings, and airports.

European Super League Rebrands as Unify League, Seeks Official Recognition from UEFA, FIFA

The promoters of the European Super League have relaunched the competition under the new name "Unify League" and are seeking official recognition from the Union of European Football Associations (UEFA) and the Fédération Internationale de Football Association (FIFA).

Global Drug-Device Combination Market Projected to Hit $200 Billion by 2029

The global market for drug-device combinations is poised for significant growth, with projections rising from $129.4 billion in 2024 to nearly $200 billion by the end of 2029, according to a new BCC Research study. This represents a robust compound annual growth rate (CAGR) of 9.1% over the forecast period.

Naira Trades Mixed as US Dollar Inflows Drop 15%

The naira displayed mixed performance in foreign exchange markets, reflecting ongoing efforts to determine its true value. Data from the FMDQ platform revealed a 15% decline in US dollar inflows, impacting exchange rates across different trading windows.

Iwájú Earns Historic Nominations at Third Annual Children’s & Family Emmy Awards

Iwájú, the groundbreaking Disney animated series created in collaboration with Kugali, a Pan-African comic book entertainment company, has been nominated in three prestigious categories at the 3rd Annual Children’s & Family Emmy Awards. The National Academy of Television Arts and Sciences (NATAS) announced the nominations, marking a historic moment for Nigerian animation.

Nigeria and South Africa Propel Africa’s Crypto and Web3 Revolution

Nigeria and South Africa are at the forefront of Africa’s rapid adoption of cryptocurrency and Web3 technologies, according to the second annual Global Survey on Crypto and Web3 by Consensys and YouGov. The survey highlights the rising global engagement with digital assets, with Nigeria and South Africa emerging as key players in blockchain innovation and decentralization.

African Development Bank Group to Build Modern Headquarters in Abidjan

The African Development Bank Group (AfDB) has announced plans to construct a state-of-the-art headquarters in Abidjan, Côte d’Ivoire, following unanimous approval from its Boards of Directors.

PRISA Unveils SMARTGEN to Empower Future PR Leaders

The Public Relations Institute of Southern Africa (PRISA) has launched SMARTGEN, a groundbreaking initiative aimed at equipping the next generation of PR and communication professionals with the skills, innovation, and ethical foundation needed to thrive in a dynamic industry. Scheduled for rollout in 2025, SMARTGEN underscores PRISA’s commitment to fostering inclusivity, professional development, and long-term growth within the public relations sector.

Engr. Sheriff Daramola Becomes 15th President of IFMA Nigeria Chapter

Engr. Sheriff Daramola has been elected as the 15th President of the International Facility Management Association (IFMA) Nigeria Chapter. The announcement came during the association's Annual General Meeting on December 10, 2024.