The United Arab Emirates (UAE) has always had strong ties with Africa. Given that about 65% of all Arabs are also Africans, it is no surprise that there is a close relationship between the two. Yet these bonds were overwhelmingly with North Africa until relatively recently. The economic potential of the continent as a whole ...

How did Nigeria avoid a banking crisis in the aftermath of the 2014 crude oil price crash? In mid-August, two papers by the International Monetary Fund (IMF) highlighted the effect of commodity price shocks on the financial sectors of resource-rich countries. The first found a strong relationship between commodity shocks and financial fragility leading to ...

When the Organisation of the Petroleum Exporting Countries (OPEC) finally reached a deal to cut oil output by 1.2m barrels per day (bpd) oil prices immediately surged. The deal, which was thrashed out in OPEC’s headquarters in Vienna, Austria, last November, was lauded as the right course of action to support oil prices, which had ...

In Cameroon, the military has been deployed in English-speaking areas, where the government blocked social media websites for at least the second time this year. Security forces have been accused of killing protesters in both areas, and the governments of both nations have yet to engage in meaningful dialogue with residents who want to form ...

To much relief, Nigeria exited recession in the second quarter of 2017, growing by 0.6%, after five consecutive quarters of contraction from Q1 2016, with the penultimate one recording negative growth of 0.9%. This was not surprising: the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, predicted in April 2017 that “by the ...

Nigerian President Buhari As throngs of demonstrators congregated in Abuja on 15th August to protest against president Muhammadu Buhari’s protracted medical leave in London, Nigerian security forces dispersed them with live ammunition and tear gas. Popular musician and protest organiser Charles Oputa – known locally as Charly Boy – collapsed from tear gas inhalation. Pro-Buhari ...

As Nigeria emerges from recession, Jim Ovia, founder and chairman of Zenith Bank, talks about the country’s prospects, his company’s expansion plans and the impact of its deal with Prudential Life. Have you noticed a deterioration in Nigeria’s business climate as a result of the slump of the last year? The recent recession has shown the extent ...

The Plateau State Police Command has confirmed 19 persons killed and five others injured in an attack on Ancha village, Bassa Local Government, on Friday. The police commissioner, Peter Ogunyanwo, who briefed journalists on Friday in Jos, said that preliminary investigation had indicated that the attack was carried out by Fulani gunmen. “We are investigating ...