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Rone: Stronger investments required to boost Africa's gas initiatives
The Group Managing Director of UTM Floating LNG, Julius Rone, says stronger investments are required to boost gas initiatives in Africa and optimize global market opportunities. In a chat with CNBC Africa at the commissioning of the Afreximbank African Trade Centre in Abuja, he highlights the importance of closing trade information and financing gaps and leveraging platforms such as the Africa Energy Bank to drive to energy security.
April 14, 2025Will Nigeria reverse declining oil production?
Data from the Nigerian Upstream Petroleum Regulatory Commission shows the country’s daily crude production was an average of 1.4 million barrels per day in March this year, down from 1.46 million barrels per day recorded in February. Meanwhile, Goldman Sachs expects oil prices to decline through the end of this year and next year owing to rising risk of a recession and higher supply from the OPEC+ group. Temitope Kolade, Associate Director, Oil, Gas and Power Practice at Andersen Nigeria joins CNBC Africa for more developments in the oil and gas sector.
April 14, 2025Elumelu: Intra Africa trade will not rise if we don't produce what we need
Chairman of UBA Group, Tony Elumelu, says Africa needs to move beyond talk to action to achieve a functioning intra Africa trade. While commending AFREXIMBANK for inaugurating the African Trade Centre, Elumelu maintains that Africa needs to produce what it needs and utilise the African market.
April 11, 2025Ecobank Group reports 16% rise in profit in FY'24
Ecobank Group has seen its Profits in 2024 rise by 16 per cent to 333 million dollars. Net revenue rose 18 per cent to 2.1 billion dollars at constant currency, driven by stable and recurring fee and commission income growth. Jeremy Awori, CEO of Ecobank Group says 2024 was a pivotal year as the bank implemented its Growth, Transformation, and Returns strategy. He joins CNBC Africa to unpack the results and growth plans for 2025.
March 28, 2025Cassava Technologies, NVIDIA on Africa’s first AI factory
Cassava Technologies, in partnership with NVIDIA, has launched Africa's first AI factory, a groundbreaking facility powered by NVIDIA’s cutting-edge AI computing technology. CNBC Africa spoke to Hardy Pemhiwa, President & Group CEO of Cassava Technologies, for more insights into this transformative development.
April 10, 2025Tariff war: Oil prices fall despite Trump pause
Oil prices failed to sustain earlier relief after President Donald Trump announced a 90-day pause on reciprocal tariffs on most countries. Fears of a deepening U.S.-China trade war and a possible global recession are the main concerns in the market. Kola Karim, the Chairman of Shoreline Group, joins CNBC Africa to discuss the dynamics at play.
April 10, 2025Kenya’s Equity Group delivers 12% FY’24 earnings growth
Equity Group has reported a solid 48.8 billion shillings in it’s latest full year earnings, representing a 12 per cent jump. The bank’s performance is anchored on efforts on the Group’s diversified business model and prudent financial management. The lenders' Earnings Per Share (EPS) rose by 11 per cent to 12.3 per cent signifying the Group's robust financial performance. CNBC Africa’s Aby Agina spoke with the bank’s Group CEO, James Mwangi for more.
March 27, 2025Popoola: Collaboration with SEC to drive new changes
Following the assent to the Investments and Securities Act 2025, the Group CEO of the NGX, Temi Popoola believes collaboration, with the Securities and Exchange Commission is crucial to achieve a robust capital market. Speaking with CNBC Africa on the side-lines of the NGX Annual General Meeting, Popoola maintains that with the SEC leading the change, there will be a proactive approach to achieving growth in the market.
April 10, 2025NGX targets listing of Dangote Petrchemical, fertiliser in Q2'25
Chairman of the NGX Group, Umaru Kwairanga says the exchange is aiming to have the listing of Dangote petrochemicals and its fertilizer company by the second quarter of this year, while noting that talks regarding the listing of the Nigerian National Petroleum Company Limited is progressing. Speaking with CNBC Africa's Kenneth Igbomor on the sidelines of the exchange’s Annual General Meeting, Kwairanga stresses the need for government-owned agencies and oil and gas companies to list on the NGX partially of fully.
April 10, 2025Current state of the Ethiopian economy
An envisaged slowdown in investment is expected to hit several African economies due to protracted debt restructuring negotiations that could hold back access to development financing. With tighter monetary policy this is expected to reduce inflation significantly but shocks from the ongoing global trade tariffs could portend a new challenge to Ethiopia one among the fastest growing economies in Africa. CNBC Africa is joined by Mulalo Madula, Economist at Standard Bank Group.
April 9, 2025