MV Wakashio Split into two on Coral Reefs

On July 25, bulk carrier MV Wakashio struck a coral reef and ran aground in Pointe d’Esny, Southeast of Mauritius.  Before the MV Wakashio got grounded, the National Coast Guard (NCG) Radar Operators first spotted the Panama-flagged vessel at 11.5 nautical miles in the common sea route at 18:15 on July 25. Consequently, a series […]

East African Community battles Trade Disruptions

The East African Community (EAC) is one of Africa’s most integrated regional blocs. However, the Covid-19 pandemic has caused massive disruption to both its internal and external trade During the initial stages of Covid-19, queues of lorries stretched up to 65km at the Kenya-Uganda border towns of Malaba and Busia. This is as a result […]

Air Peace to recall Sacked Pilots

After the intervention of Hadi Sirika, the Nigerian aviation minister, Air Peace will recall some of the pilots it sacked. This was disclosed in an official statement released by Air Peace. The airline had previously laid off some of its pilots due to the economic impact of the Covid-19 pandemic. Nigerian airports were shut for […]

Nigerian Stock Rise on Oil Prices Gain

As global oil prices rallies, Nigerian stock lifted by gains in shares of energy companies has climbed to an eight-week high. Recovering after two days of losses, the main share index (Nigerian Stock Exchange) All-Share Index rose 1.04 per cent to 24,141.48.  Meanwhile, market capitalisation gained N134.5 billion. Brent crude was up 68 cents, or […]

BTI Report – African Economic and Political Change at a Halt

According to the 2020 BTI report, Political and economic change in sub-Saharan Africa has remained largely stagnant since 2017. This is despite the much-publicised political shifts in Ethiopia and Zimbabwe.  Sub-Saharan Africa as a whole witnessed no significant changes to the overall levels of democracy, economic management and governance. These are the three main areas of […]

Dangote Refinery to be Operational in 2021

Work is still on-going at the Dangote Refinery, which is expected to be commissioned in January next year. The completion of the project previously scheduled for 2020 has been interrupted by the global outbreak of the coronavirus pandemic. Dangote Group Executive Director Devakumar Edwin said the company has provided for mechanical completion by end of […]