Business

Nigeria Could Double Energy Investment Within Five Years, IEA Chief Says

Nigeria could attract at least twice its current level of energy investment within five years as the country strengthens its relationship with the International Energy Agency, according to IEA Executive Director Fatih Birol. Birol made the assessment during a visit to Abuja on Thursday, 3 September, two months after Nigeria formally joined the IEA as […]

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Nvidia Agrees to Buy AI Platform Hugging Face for $12.9 Billion

Nvidia has agreed to acquire artificial intelligence platform Hugging Face for $12.93 billion, in a major deal that would expand the chipmaker’s influence beyond computing hardware and deeper into the global AI development ecosystem. Nvidia officially announced the agreement on Thursday, 3 September, confirming earlier reports that the two companies had reached a deal. The

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Why Africa Still Struggles to Trade With Itself Despite AfCFTA

Africa has spent years building an ambitious continental free trade system. The bigger challenge now is making that system work for businesses trying to move goods, services and money across African borders. A new World Bank report says Africa’s next major economic gains will depend less on signing additional trade agreements and more on removing

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South Africa’s Private Sector Growth Edges Higher as New Orders Rise

South Africa’s private sector recorded another month of modest growth in August, supported by an increase in new orders and stronger business activity, according to a new survey released on Thursday. The S&P Global South Africa Purchasing Managers’ Index, or PMI, rose to 50.5 in August from 50.3 in July. A PMI reading above 50

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Why Africa’s Small Businesses Still Struggle to Access Finance

Small businesses are part of everyday life across Africa. They run shops, farms, restaurants, transport services, technology companies and small factories. They provide livelihoods for millions of families and help keep local economies moving. Yet many face the same problem when they want to grow: getting affordable finance. A business may have customers and a

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