Dr. Kwegyir Aggrey "Only the best is good enough for Africa."
Kwame Nkrumah "The independence of Ghana is meaningless unless it is linked up with the total liberation of Africa."
Global diamond output in 2011 declined by 3,4 percent to 123, 989 million carats from 128,3 million carats the year before, latest statistics from the Kimberley Process show. The diamond industry has been struggling as major mines in top producing countries begin to age, coupled with the economic crisis in the eurozone, which has sapped […]
President of the Pan African Parliament Bethel Amadi has said the economic integration of Africa will improve its economic prosperity as mere two percent intra trades among Africans could generate as much as $200 billion annually. He said yesterday in Abuja that the parliament is doing everything within its powers to ensure that Africa is […]
Africa needs to embrace economic diversification as well as focus on agribusiness to lift the continent out of poverty and put it on the path to prosperity, a senior United Nations official said today. “Agriculture is the most important sector of the African economy and will have to be its driving engine out of poverty. […]
A Ghanaian energy economist working for the natural resources firm IBIS based in the Republic of Ghana, has warned that the National Oil Company of Liberia (NOCAL) may become what he calls a monster if care is not taken in which role NOCAL plays in Liberia’s oil and gas sector. Mr. Mohammed Amin, who is […]
Authorities of the National Oil Company of Liberia or NOCAL say all activities surrounding exploration since the pronouncement of oil discovery here in February this year by the African Petroleum have been halted, pending a full reformation process as requested by Liberians and the 53rd Liberian Legislature. Speaking recently at NOCAL headquarters on Randall Street […]
Multinational corporations operating in Africa are involved in illicit transfer of most of the $ 1.5 trillion they make in Africa each year back to the developed countries, hurting African economies in the process, a new report shows. The report on Illicit Financial Flows from Africa: Scale and Developmental Challenges blames multinational corporations for draining […]
By Clara Nwachukwu, Okey Ndiribe, Emman Ovuakporie and Kunle Kalejaye Lagos — The Shell Nigeria Exploration and Production Company, SNEPCO, has been fined U.S.$5 billion over the massive oil spill that occurred at its Bonga oil field on December 20, 2011. This was disclosed yesterday by the Director General, National Oil Spill Detection and […]
Nairobi — For months now East Africans have been expectantly waiting for an economic revolution to begin as they anticipate the launch of a new standardized payment system that will integrate the electronic transfer of money in the region. But continued delays in the launch of the system have economists fearing that the weak financial […]
The African Growth and Opportunities Act (AGOA) was enacted by former President Bill Clinton in 2000 with the aim of boosting trade and development in eligible African countries by allowing them to export products to the USA, duty-free. A large proportion of these products are garments, with exports from Africa to the USA now representing […]
By Ibrahim Kasita Uganda’s progress in transforming the oil assets and the plan to build refinery project has attracted criticism, skepticism and resistance, a challenge that will test government’s stamina to make independent decision for the benefit of its citizens. This is after protracted efforts to search for oil and gas in the Lake […]