Kenya gives foreign business owners 90 days to regularise documents

Kenya foreign business owners have been given 90 days to obtain or update work permits, business licences and other required documents

UAE eyes new investments in Egypt’s Suez Canal and fintech sectors

UAE investment in Egypt could expand as the two countries discuss new opportunities in Suez Canal logistics, port infrastructure and fintech

This tiny African country has no traffic lights

São Tomé and Príncipe has an unusual claim to fame: the tiny African island country has no traffic lights. Here’s what makes it unique

Most of this African country lives around one city

Djibouti City population figures reveal an unusual fact: a huge share of this African country’s people live in and around its capital

African travellers face stricter biometric checks at 29 European borders

Europe biometric checks are becoming more consistent at 29 countries’ external borders, with African travellers warned to prepare for EES processing.

Husband of Tanzania’s President Samia Suluhu Hassan dies

Samia Suluhu Hassan’s husband, Hafidh Ameir Hassan, has died while receiving medical treatment in Zanzibar, Tanzanian officials announced

Nigeria unlocks $25 million financing for local shipowners

Nigeria is moving ahead with a long-delayed fund that will allow qualified local shipowners to access up to $25 million each to buy vessels. The Nigeria shipowners fund aims to strengthen local shipping companies and reduce the industry’s dependence on foreign operators. The government also expects the programme to create thousands of jobs across Nigeria’s maritime sector. Nigeria shipowners fund offers up to $25m The money will come from the Cabotage Vessel Financing Fund (CVFF). Marine and Blue Economy Minister Adegboyega Oyetola said successful applicants could receive up to $25 million to acquire vessels. Applicants must first pass an assessment and approval process. The financing will also be available at low interest rates. Nigeria has expanded the number of participating banks from five to 12 to help speed up the process. Fund moves forward after 20-year delay Nigeria established the CVFF under the Coastal and Inland Shipping Act of 2003. The fund was designed to help Nigerian companies buy vessels and increase their role in domestic shipping. However, access to the money was delayed for about two decades. That is now changing. According to figures reported by Punch, the Nigerian Maritime Administration and Safety Agency (NIMASA) has received 92 applications. Twenty applications have been sent to banks for review. One has already been processed and sent for final approval. Nigeria wants local firms to compete Nigeria has one of Africa’s most important maritime industries. However, foreign operators have historically dominated many coastal and offshore contracts. The new financing could help Nigerian companies purchase modern vessels and compete for a larger share of that business. It could also increase activity in shipyards, marine engineering, vessel maintenance and logistics. More than 30,000 jobs expected The government estimates that the programme could support more than 30,000 direct and indirect jobs. Nigeria is also investing in its maritime workforce. Oyetola said 222 seafarers had received free training, while 333 cadets had graduated. Another 7,059 seafarers have been placed aboard vessels to gain practical experience. The government says its wider goal is to build a stronger Nigerian-owned shipping industry and keep more maritime wealth inside the country.

Why Lesotho is known as Africa’s ‘Kingdom in the Sky’

Lesotho is completely surrounded by South Africa and its entire territory sits more than 1,000 metres above sea level. Discover Africa’s Kingdom in the Sky

Dagalo discusses Sudan peace efforts, prisoner exchange with UN envoy

Dagalo and UN envoy Pekka Haavisto discussed Sudan peace efforts, political dialogue and a proposed prisoner exchange, according to a TASIS spokesperson

Kenya moves to end raw mineral exports in push for local processing

Kenya plans to end raw mineral exports as President William Ruto pushes for local processing, new factories and more jobs at home

Cape Verde mourns 25 killed in Fogo Island bus crash

A Cape Verde bus crash has killed at least 25 people, most of them children and teenagers, after a vehicle plunged into a ravine on Fogo Island

Scroll to Top