Economic news

Follow us on Twitter: @GoAfricaNetwork PRESS RELEASE AllAfrica Côte d’Ivoire has for centuries been known as a country blessed with abundant natural resources. Today this is reflected in the West African country’s status as the world’s largest exporter of cocoa. That position should not be underestimated. A coup in 1999, followed by a bloody presidential

Follow us on Twitter: @GoAfricaNetwork Heralded by some as the face of the new Nigeria, Aliko Dangote, Africa’s richest man, is looking beyond cement, sugar and flour — the three commodities that built his fortune — to the oil business. In April 2014 he announced $9 billion in financing from a consortium of local and

Follow us on Twitter: @GoAfricaNetwork Nigerian energy firm Taleveras Group said on Monday it had signed a deal with the government of Equatorial Guinea to build a giant oil storage hub in the central African country. The Bioko Island facility will have a total capacity of 1.34 million tonnes of storage for crude oil and

Follow us on Twitter: @GoAfricaNetwork THE Federal Government’s yearly rice import bill from Vietnam has hit about $500 million (N84 billion) according to the Nigerian-Vietnam Chambers of Commerce and Industry. Besides, Vietnam also spends about $100 million to import agricultural products such as raw cashew nuts, cassava and oil palm from Nigeria. Indeed, Nigeria spends

Follow us on Twitter: @GoAfricaNetwork China Eximbank has loaned Ivory Coast around 466 billion CFA francs ($875 million) for the construction of a second container terminal at Abidjan port, the director general of the port said on Monday. Ivory Coast plans to increase capacity at the port in its economic capital Abidjan, one of the