Africa’s richest man, Aliko Dangote, has announced plans to invest $2.3 billion in rice and sugar production in Nigeria’s northern region in a bid to combat poverty and insurgency. Dangote, who was speaking today during a plenary session at the World Economic Forum currently being held in Abuja, Nigeria, said […]

MTN Group Ltd. (MTN), Africa’s largest phone operator, said Nigeria’s currency will probably be devalued after next year’s election and the move will boost the company’s import costs in its biggest market. Declining oil exports and prices means that the central bank of Africa’s biggest crude producer will face difficulties […]

Fitch Ratings-London-07 May 2014: Fitch Ratings has assigned Diamond Bank Plc’s (Diamond) USD senior debt notes an expected Long-term rating of ‘B(EXP)’ with a recovery rating of ‘RR4(EXP)’. The recovery rating is in accordance with Fitch’s soft cap for Nigeria. The structure of the notes is not yet finalised, and […]