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The World Bank and the African Development Bank have released their latest list of debarred companies. The companies were debarred because of various infractions of their regulations. Amongst the debarred companies is a Nigerian contracting firm, Oceanic Construction and Engineering Nigeria Limited. The company was indicted for lying about its corporate registration, including its year […]
Nigeria’s leading commercial airline, Air Peace, has sacked 69 pilots across its fleet types. This is due to the negative impact of Covid-19 pandemic on its operations and financial health. Air Peace said it had to take the “painful but rightful” decision in the face of the devastating effects of the Covid-19 pandemic. Spokesman of […]
Earlier in the week, news broke out in Nigeria that the South African supermarket chain Shoprite is leaving the country. However, the Shoprite management debunked these rumours. Yesterday, Shoprite Holdings announced via its parent company that it has begun shopping for Nigerian investors. The plan simply for the supermarket chain is to divest its stake […]
In January, the economic outlook for Africa for the year was very bright. The African Development Bank had predicted a 3.9% growth in 2020 and then 4.1% in 2021. However, the coronavirus hit and upended the global economy. Less than two months after coronavirus hit, the United Nations Economic Commission for Africa (UNECA) revised the continent’s growth […]
Before international flights resume, Kenya Airways will have to inspect afresh the engines of its 10 Boeing 737 New Generation aircraft. This is after the US aviation regulator warned that they could stall mid-air after being grounded for months. The Federal Aviation Authority (FAA) said the Boeing 737NG aircraft that have been idle since the […]
ENGIE has faced a steep learning curve as one of the first movers in Africa’s renewable energy sector. However, the company and its African customers and partners are beginning to reap the rewards. ENGIE Africa currently employs around 4,000 people across the continent from Morocco to Uganda. Many of them work in the off-grid sector. […]