EBID approves $150 million credit line for Ghana road and bridge projects

The ECOWAS Bank for Investment and Development (EBID) has approved a $150 million credit facility for Maripoma Enterprise Limited to finance eight road and bridge projects in Ghana, as part of an infrastructure portfolio estimated at about $1.2 billion.

The financing is expected to support the development of transport infrastructure aime...

Ghana says it will not reimburse South Africa for evacuation costs

Ghana has rejected any suggestion that it could be asked to reimburse South Africa for the evacuation of Ghanaian nationals, saying it fully financed the operation with support from Ghanaian partners.

The Ministry of Foreign Affairs said more than 1,600 Ghanaians had been evacuated from South Africa since May 2026 following recent xenoph...

Nigeria’s Tinubu plans NNPC listing as stock market value reaches N160 trillion

President Bola Ahmed Tinubu has announced plans to reform and eventually list Nigerian National Petroleum Company Limited (NNPC Ltd.) on the Nigerian Exchange, as his administration seeks to deepen the country’s capital market and mobilize more private investment.

Tinubu made the announcement on August 6, 2026, during a meeting wit...

Ghana’s tourism sector attracts 1.3 million international visitors in 2025

Ghana welcomed 1.3 million international tourists in 2025, as the country’s tourism sector continued to expand despite a decline in tourism receipts.

The country recorded 1,306,962 international tourist arrivals in 2025, up 1.4% from the 1,288,804 visitors recorded in 2024, according to the Ghana Tourism Authority.

However,...

Nigeria tightens cryptocurrency tax rules as authorities seek to boost revenue

Nigeria is tightening its tax framework for cryptocurrency and other virtual assets as authorities seek to bring more digital-asset activity into the formal tax system and increase government revenue.

Under the country’s new tax framework, which took effect in January 2026, businesses involved in virtual-asset activities, including...

Nigeria targets 3 million barrels per day oil output by 2030 with $50 billion investment push

Nigeria is aiming to raise its crude oil production capacity to 3 million barrels per day (bpd) by 2030, backed by up to $50 billion in planned offshore investments and a renewed push to accelerate major oil and gas projects, government officials said. Africa’s largest oil producer is seeking to reverse years of declining output caused by...

Ghana signs $10 million deal to build organic fertilizer plant and cut import dependence

Ghana has signed an agreement with an agricultural technology company to build a $10 million organic fertilizer production plant, as the country seeks to reduce its reliance on imported chemical fertilizers and promote more sustainable farming practices.

The agreement, signed between Ghana’s Ministry of Food and Agriculture and Oma...

Ghana: AfDB supports rice sector to reduce reliance on imports

The African Development Bank (AfDB) is strengthening its support for Ghana’s rice sector through funding aimed at improving the competitiveness of the industry and reducing the country’s reliance on imports.

Through its support for rice value chain development in West Africa, the AfDB seeks to increase farmers’ producti...

Ghana proposes five-year presidential term as constitutional reform moves forward

Ghana’s government has backed a proposal to extend the presidential mandate from four to five years, following recommendations from the country’s Constitutional Review Commission, as part of a broader effort to reform the political system.

The commission argued that the current four-year presidential term leaves governments w...

U.S. imposes 12.5% tariffs on selected African imports, with strategic exemptions

The United States has introduced new tariffs of up to 12.5% on certain imports from seven African countries as part of President Donald Trump’s new trade policy, while granting exemptions for a range of strategic products.

The measures are part of Washington’s broader effort to reshape trade relations and protect domestic ind...

Ghana advances energy reform plan with $4.4 billion investment pipeline under Mission 300

Ghana is making progress in implementing its National Energy Compact, with 13 of the 16 priority reforms currently on track as the country seeks to strengthen its power sector and accelerate energy access under the Mission 300 initiative backed by the African Development Bank and the World Bank.

The West African nation has developed a $4...

BIDC approves $91.63 million financing for Bauchi road infrastructure projects in Nigeria

The ECOWAS Bank for Investment and Development (BIDC) has signed a $91.63 million financing agreement with Nigeria’s Bauchi State to support the modernization of road infrastructure and the completion of 24 strategic road and bridge projects.

The agreement, signed in Lomé, is aimed at improving transportation networks across...