African Business News

Nigeria continues to maintain top spot as Africa's largest oil producer

Nigeria has continued to maintain its position as the top producer of oil in Africa according to the Organisation of Petroleum Exporting Countries (OPEC) monthly report for the month of July. Nigeria has reclaimed its top position in June following a six month period trailing Angola due to the activities of Niger Delta militants.

Following meetings between Acting President Yemi Osinbajo and leadership of the Niger Delta region, a ceasefire was agreed and Nigeria returned to uninterrupted oil supply.

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Ethiopia earns record 866 mln USD from coffee export

Ethiopia has announced a record 866-million-U.S.-dollar earning from coffee export during the just concluded fiscal year.
The announcement by the Ethiopian Coffee and Tea Development and Marketing Authority on Wednesday said Ethiopia has secured the revenue from the export of 221,000 tonnes of coffee to the global market.

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What does Kenya’s New Railway Mean for OBOR?

China’s increasingly large footprint in Africa has generated both optimism and fear. The debate over whether China will improve African economies through sustainable infrastructure or undercut local markets through export-focused trade has been under increasing scrutiny as China prepares to embark on what many consider the “biggest development push in history.” In 2013, China announced its “One Belt One Road” (OBOR) project.

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Africa-India trade multiplied in last 15 years: PM Modi at AfDB meet

NEW DELHI: Prime Minister Narendra Modi on Tuesday said that "Africa is top priority for India's foreign and economic policy and there isn't a single African country which hasn't been visited by an Indian minister."
"India's partnership with Africa is based on a model of cooperation which is responsive to the needs of African countries," PM Modi said while speaking at the 52nd African Development Bank (AfDB) meet in Gujarat's Gandhinagar .

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