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    News Archives - Ecosystem Capital

    Kenya’s tea output up 4% in third quarter

    Kenya’s tea output grew by 4% between July and October compared to a similar period last year due to favorable weather in the highlands. Produce of crop climbed to 373.8 million kilograms in the third quarter compared to 359.6 million kilograms in 2019. Kenya Tea Development Agency, the country’s biggest tea producer, said in a […]

    Tigray forces bomb Eritrea’s Asmara airport as fears intensify over full blown regional war

    Ethiopia’s 12-day old conflict has entered a new front after Tigray forces fired rockets at the airport in Eritrea’s capital Asmara on Saturday evening. Tigrayan leader Debretsion Gebremichael told reporters that “Fighting is still continuing on several fronts” in Ethiopia as regional diplomats confirmed the cross border attack that saw two of the rockets fired […]

    Nigeria approves €15.21m Euro counterpart funding for Siemens power deal

    Nigeria’s Federal Executive Council has approved the payment of €15.21m Euro (offshore) and N1.7bn (onshore) counterpart funding for its power deal with German energy company, Siemens AG. The deal was a result of a meeting between Nigeria’s President Muhammadu Buhari and German Chancellor, Angela Merkel in 2018, which culminated in the signing of a letter of […]

    Courier service fees put millions of Nigeria’s SMES at risk

    Nigerians are up in arms on social media criticising a new government policy which would see small and medium scale businesses which use courier services paying $645 to obtain a licence and $258 for renewal According to the Nigeria Postal Service which oversees this new revenue drive, international courier and logistics services are expected to […]

    Nigeria’s electronic bill payments hits $1.1bn

    Nigeria’s electronic bill payments reached $1.1bn between January and May 2020, more than double the amount for the same period in 2019. According to the latest Nigerian Interbank Settlement Scheme, this signifies an 86 per cent increase from the $615.4m payment of utility bills and other subscriptions recorded the previous year. A marked decline of […]

    AU inaugurates African Continental Free Trade Area (AfCFTA) permanent secretariat

    At a ceremony on Monday to commission the permanent secretariat of the African Continental Free Trade Area (AfCFTA), Ghana’s President Nana Akufo-Addo and Moussa Faki Mahamat, chairperson of the AU Commission, reiterated the importance of the body to the continent’s economic transformation agenda. “The economic integration of Africa will lay strong foundations for an Africa […]

    Nigerians fume as government sets $2.5bn stamp duty target

    Nigeria’s leading banks, Access, has been trending on social media platforms, but not in a positive way. Customers of the bank across Nigeria were up in arms, at least verbally, calling out what they described as “theft” of their bank savings in the name of stamp duty.https://twitter.com/p_mystic/status/1277157739052126208?s=20 Even though Access Bank was not the only […]

    Nigeria’s aviation authority suspends 14 aircraft charter operators

    As Nigeria reopened its aviation sector on Wednesday after lockdown due to the COVID-19 pandemic, the Nigerian Civil Aviation Authority has suspended 14 aircrafts used in private in the country for violating some aviation regulations. The NCAA listed the aircrafts affected as Hawker 800XP: N838BB; Hawker 800XP: N552ME; Hawker800XP: N749WW; Hawker800XP: ZS-EXG; CL604-D-ANGB; CL604-T7-NMN; CL601-N580KR, […]

    World Bank approves $750m loan for Nigeria’s power sector

    The World Bank has announced the approval of a $750 million International Development Association credit for Nigeria’s Power Sector Recovery Operation. According to the bank’s Country Director for Nigeria, Shubham Chaudhuri, the credit would help “increase annual electricity supplied to the distribution grid, enhance power sector financial viability while reducing annual tariff shortfalls and protecting the […]

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