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Despite improved earnings in the third quarter of 2024 largely driven by revenue growth, cement giants in Nigeria witnessed significant cost and currency pressures which weighed on profit margins. 

Cost pressures, FX losses erode cement giants’ earnings

The Advisory Board Member at Woodhall Capital, Adejare Olaoluwa says though financial support is key to the growth of SMEs, non-financial aid is also important to enable the businesses scale their offerings, business model and value chain activities.

Olaoluwa: Non-financial support useful to scale SMEs

ETAP, an insurtech has acquired an operational license from the National Insurance Commission of Ghana, the first of its kind in Ghana enabling the startup to process claims, collect premiums and provide other auto insurance products and services. 

ETAP secures Ghana’s first insurtech operational license

Sebastien Boreux, a Sovereign Analyst at S&P Global Ratings, joins CNBC Africa to unpack the details.

S&P assigns 'B-/B' sovereign ratings to Chad with stable outlook  

As sub-nationals in Nigeria approve the implementation of the new minimum wage, analysts have raised concerns over fiscal space. 

Will fiscal space of Nigeria’s sub-nationals absorb more spending?

Analysts say the 783-million-dollar acquisition of Eni’s Subsidiary, Nigerian Agip Oil Company by Oando, puts the oil firm as the first indigenous company to be elevated to the status of a major IOC with complete control of producing assets. 

Will Nigeria’s indigenous oil firms lead IOC status?

Despite reporting higher revenues, brewery giants in Nigeria recorded a loss in third-quarter earnings driven by rising input costs, exchange rate fluctuations, and inflation among others. 

Macro headwinds impact profits of brewery giants

Nigeria hopes to push its remittance inflows to as high as one billion dollars through International Money Transfer Operators. Meanwhile, the country’s external reserves stood at 39.4 billion dollars as of October 24.

Will higher remittance inflow drive stability?

The President of the African School of Governance, Kingsley Moghalu says governance and leadership crisis is at the root of Africa’s lingering developmental challenges.

ASG: Governance & leadership crisis root of Africa’s development challenges

The Dangote Petroleum Refinery has received four cargoes of crude oil from the Nigerian National Petroleum Company Limited under the naira-for-crude sale. 

Naira crude deal: Dangote Refinery receives first supply from NNPCL

The International Monetary Fund projects a 3.6 per cent regional growth for Sub-Saharan Africa this year. 

IMF: Sub-Saharan Africa to grow 3.6% in 2024, 4.2% in 2025

The International Monetary Fund projects Ghana’s economy will grow by 3 per cent this year while projecting an end of year inflation rate of 19.5 per cent for the country. 

CBWA