Business

Ghana’s Central Bank has issued a caution to Ghanaians against trading in digital currencies such as Bit coin. It follows the recent upsurge in trading of the virtual currencies in the West African Country.

Nigeria’s economy is projected to grow by 2.1 percent this year according to the International Monetary Fund. The prediction which represents 0.2 percent from the 1.9 percent projected in October 2017 was contained in Fund's World Economic Outlook Update, released on Monday. Though, the IMF upgraded its growth forecast for the global economy in 2018 to 3.9 percent, it however downgraded the 2018 and 2019 growth forecasts for sub-Saharan Africa to 3.3 percent respectively.

The International Monetary Fund is worried that Tanzania’s economic growth could be clouded by growing investor concerns over government policies.

The African Development Bank provided a much-needed lifeline at a time when it was very difficult to secure budget support loans from anywhere else, as the country struggled with the 2015-2016 economic recession, the Nigerian Government has said.

Ghanaian inventors have announced the launch of the country’s own version of the “Silicon Valley” to promote innovation in technology.

Uber co-founder Travis Kalanick will become a billionaire, after investors agreed to take a large stake in the ride-hailing firm.

The President of the African Development Bank, Akinwumi Adesina, has made a compelling case for accelerating Africa’s industrialization in order to create jobs, reduce poverty and promote inclusive economic growth. Citing data from the Bank’s 2018 African Economic Outlook launched in Abidjan, Côte d’Ivoire, on Wednesday, Adesina said infrastructure projects were among the most profitable investments any society can make as they “significantly contribute to, propel, and sustain a country’s economic growth. Infrastructure, when well managed, provides the financial resources to do everything else.” Noting that economic diversification is key to resolving many of the continent’s difficulties, he urged African governments to encourage a shift toward labour-intensive industries, especially in rural areas where 70 percent of the continent’s population resides.

Officials in Ghana have confirmed the discovery of the mineral, Lithium in large quantities which can now be processed commercially.

African Airlines are expected to loose about hundred million dollars in 2018 based on a collective net loss of hundred million dollars in 2017.

The move came after discussions between Carillion, its lenders and the government failed to reach a deal to save the company.