Business

A London court will on Wednesday begin to hear a lawsuit launched by Nigeria against U.S. bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal, Reuters reports. The civil suit filed in the English courts in 2017 relates to the purchase …

Somalia’s President Mohamed Farmaajo has rejected an oil revenue sharing deal signed by the petroleum ministry and an American firm, the BBC reports. Coastline Exploration said it had signed seven deals related to offshore oil and gas exploration. “Somalia contains the largest remaining unexplored set of basins situated in warm …

The German government announced its plan to transfer hydrogen production technology to African countries amid its efforts to quit coal and nuclear energy on Wednesday, Reuters reports. Germany will have to import 40-60% of the hydrogen it needs for its energy transformation plans, the official said ahead of a meeting …

South African President Cyril Ramaphosa said on Thursday his government wants to expand its nascent domestic cannabis industry as it looks to tap global demand and grow local production and exports. Africa’s most industrialized nation plans to streamline the “regulatory processes so that the hemp and cannabis sector can thrive …

Thousands of Ghanaians took to the streets of the capital Accra on Thursday to demonstrate against a controversial government-sponsored electronic transaction tax bill. The parliament is yet to pass the bill, which introduces a 1.75% tax on all money transactions above 100 cedis ($15; £11). The majority leader Osei Kyei-Mensah-Bonsu …

TotalEnergies announced on Tuesday that it has reached a $10 billion investment deal with Uganda, Tanzania and its partner Chinese oil giant CNOOC in the controversial Ugandan oil exploration and export megaproject. This agreement, called Final Investment Decision (FID), was signed some sixteen years after the discovery of these reserves …

Authorities in Ghana have denied introducing a mandatory insurance scheme for all travellers arriving in the country through the country’s main airport, the BBC reports. The National Insurance Commission (NIC) said the scheme popularly known as “Akwaaba” had not been approved and any reports that it had should be disregarded. …

Authorities in Ghana have introduced a mandatory insurance scheme for all travellers arriving in the country through the country’s main airport. Popularly known as “Akwaaba”, it is to be supervised by a government-run firm and two other insurers. All visitors regardless of the duration of stay and nationality will have …

The US State Department has approved the sale of 12 military transport planes to Egypt, in a deal worth more than $2 billion, the BBC reports. Air defence radar systems and other related equipment are also being sold for another $300m. The arms sales come despite recent criticism from the …

Kenya Civil Aviation Authority (KCAA) Chief Executive Gilbert Kibe has announced the lifting of the ban on all flights from the United Arab Emirates (UAE) on Monday. Kenya has suspended all inbound and transit passenger flights from the United Arabs Emirates, two weeks ago. The ban did not affect cargo …