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Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.

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Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.

    Liberia's President Joseph Boakai to Set Up First War Crimes Court

    Liberia's President Joseph Boakai to Set Up First War Crimes Court

    Liberian President Joseph Boakai has signed an executive order to establish the country's first war crimes court, more than 20 years after the end of two civil wars which killed 250,000 people. Mr Boakai said Liberia had endured downpours of agony. The 1989-2003 conflicts saw atrocities including mass killings, rape and the forced recruitment of child soldiers. Critics in Liberia have opposed the creation of the court, saying it risks reopening old wounds however Mr Boakai says the court would help ferret the causes and effects of the violence and bring about justice and healing.

    • 1 min
    Chad Presidential Vote Set to End Military Rule

    Chad Presidential Vote Set to End Military Rule

    Chad is set to become the first of Africa's current junta-led states to move to democratic rule with Monday's presidential vote. It will end a three-year transition imposed after the sudden death of long-serving leader Idriss Deby Itno while fighting rebels. Prime Minister Succès Masra is among his nine challengers and is seen as his biggest rival. Ten other politicians who had been hoping to run, including two prominent figures, Nassour Ibrahim Neguy Koursami and Rakhis Ahmat Saleh, were excluded by the constitutional council because of irregularities.

    • 58 sec
    Nigerian Airports Authority to Cut Physical Security Checks At Airports

    Nigerian Airports Authority to Cut Physical Security Checks At Airports

    The Federal Airports Authority of Nigeria says it has concluded plans with the Office of the National Security Adviser to reduce the number of security checkpoints at the country’s airports. The Managing Director of FAAN, Olubunmi Kuku says the agency and the office of the NSA have agreed to carry out short and long-term measures to address the issue. Kuku noted that the issue of multiple security checkpoints was the first challenge she took up upon the assumption of office. The FAAN MD added that she has had productive conversations with the National Security Adviser, Nuhu Ribadu to craft viable solutions to the issue.

    • 1 min
    Socio-Economic Rights Group Sues Nigerian Governors over $4.6bn Loans

    Socio-Economic Rights Group Sues Nigerian Governors over $4.6bn Loans

    The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Minister of the Federal Capital Territory, Nyesom Wike before the Federal High Court in Abuja. Also joined in the suit were the 36 state governors over over their failure to account for and publish the agreements of the N5.9 trillion and $4.6 billion loans obtained by their states and the FCT, respectively. SERAP Deputy Director, Kolawole Oluwadare, says the group asked the court to direct and compel the governors and Mr. Wike to account for N5.9trn and $4.6bn loans obtained by their states and the FCT and to publish copies of the loan agreements, location of projects executed with the loans.

    • 1 min
    Nigeran State Lays Foundation for ₦15bn Interchange Bridge

    Nigeran State Lays Foundation for ₦15bn Interchange Bridge

    Governor Abba Yusuf has laid the foundation for a ₦15bn three-layer interchange bridge at Kofar Dan’agundi in a move to transform Kano into a mega city, and alleviate traffic congestion, Governor Yusuf emphasised the significance of enhancing traffic flow to elevate Kano’s status to that of a mega city. The project, awarded to CCG Nigeria Limited in December 2023, boasts a completion period of eighteen months. It is part of a comprehensive initiative that includes another high-impact interchange bridge at Talidu roundabout, strategically positioned to mitigate traffic congestion. Gee Wang, Project Manager of CGC Nigeria Limited, expressed confidence in meeting the project’s timeline.

    • 1 min
    Japan’s Yen Plunges to Lowest Level Against the Dollar Since 1990

    Japan’s Yen Plunges to Lowest Level Against the Dollar Since 1990

    The Japanese yen has slumped to a 34-year low against the United States dollar. The yen on Monday sank to 160.17 per dollar, the lowest since April 1990, prompting speculation that Japanese authorities would intervene to prop up the currency for the first time since late 2022. The yen has been on a continual slide since early 2021 as the Bank of Japan (BOJ) has maintained ultra-low interest rates, while the US Federal Reserve and other central banks have hiked borrowing costs. The downward spiral has continued in recent weeks despite the BOJ raising interest rates last month for the first time in 17 years, as expectations of interest rate cuts in the US fade amid above-target inflation. The Japanese central bank kept its benchmark rate unchanged at 0-0.1 percent. BOJ Governor Kazuo Ueda says that exchange-rate volatility would only affect monetary policy if there was a significant impact on the economy.

    • 1 min

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