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Aliko Dangote Makes $17 Billion Bid For Immortality

AFRICANGLOBE - In many ways, Dangote’s ascent recalls that of Gilded Age tycoons such as Andrew Carnegie and Cornelius Vanderbilt, who accumulated great fortunes as they created industries.

Nigeria’s Oil Earning On The Rise

AFRICANGLOBE - For the first time in 2019, the price of crude oil has surged from $64.00 recorded last week to $66.35 over the weekend as a result of Organisation of Petroleum Exporting Countries, OPEC efforts targeted at eliminating excess oil from the volatile market, thus leading to an increase in the nation’s excess oil revenue.

Indians Held Hostage After Refusing To Pay Ethiopian Workers

AFRICANGLOBE - India’s foreign ministry is investigating claims by expatriates in Ethiopia who say they are being held hostage by local staff that haven’t been paid after the financier Infrastructure Leasing & Financial Services Ltd. began defaulting on $12.6 billion in debt.

Aliko Dangote Is The World’s Richest Black Person—Here’s How He Made...

AFRICANGLOBE - Globally Nigerians take the lead on lists of Black billionaires, and one, Aliko Dangote, takes the top spots. With an estimated net worth of $10.3 billion, the Dangote Group founder is the richest man in Africa. According to Forbes, he's also the richest Black person in the world.

Ethiopia Opens Africa’s First Waste To Energy Plant

AFRICANGLOBE - Ethiopia recently inaugurated a power plant which converts waste into energy, next to a filthy open-air dump in Addis Ababa where a landslide last year killed more than 110 people. Named Reppie, the facility is the first of its kind in Africa, according to the government and the British company Cambridge Industries behind the project, and will turn 1 400 tons of waste per day into energy.

Aliko Dangote Pumping Billions Into Agriculture

AFRICANGLOBE - Against the background of Nigeria’s economic vulnerability, President of Dangote Group, Aliko Dangote has stated that the current efforts of the Nigerian Federal Government at diversifying the economy to an agriculture-centered economy remain the viable solution to creating a healthy economy.

Ethiopia Needs Three Years To Develop Newly Discovered Oil Resource

AFRICANGLOBE - Ethiopia's Ministry of Mines, Petroleum and Natural Gas disclosed that the country needs additional three years to develop its petroleum resources in the Ogaden area. The nation has announced in June that it has discovered a huge crude oil reserve in the Ogaden area, eastern part of the country.

This Nigerian Is The Highest Paid Robotics Engineer In The World

AFRICANGLOBE - A 26-year-old Nigerian, credited for building the world’s first gaming robot, has just become the highest paid in the field of Robotic engineering. Silas Adekunle achieved this feat after signing a new deal with the world’s reputable software manufacturers, Apple Inc.

Fostering Green, Made-In-Africa Innovations

AFRICANGLOBE - Over 1000 policy makers, experts, investors and financial specialists from across Africa are gathered this week in Kigali, at a week-long Africa Green Growth Forum 2018 to discuss how to foster green, made-in-Africa innovations to meet the needs of the continent.

Ethiopia Overtakes Dubai As Top Feeder Of Air Traffic To Africa

AFRICANGLOBE - Ethiopia has overtaken Dubai as a conduit for long-haul passengers to Africa, highlighting the success of the state airline’s expansion drive and the reforms of its new prime minister. Travel consultancy Forward Keys said on Wednesday Addis Ababa airport had increased the number of international transfer passengers to Africa for five years in a row, and in 2018 had surpassed Dubai, one of the world’s busiest airports, as the transfer hub for long-haul travel to the continent.

Nigeria Will Lose $6 Billion In ‘Corrupt’ Oil Deal With Shell...

AFRICANGLOBE - A deal Shell and Eni brokered with the Nigerian government in 2011 is set to cost the African nation $6 billion in lost revenue, a report claimed Monday. The report, published by campaign group Global Witness, said the allegedly corrupt deal's terms would stop Nigeria accessing its share of the profits from oil extracted from its offshore block.

Dangote Group Turns Nigeria Into Cement Exporter

AFRICANGLOBE - Through its recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into a net exporter of cement. Nigeria was one of the largest importers of the product globally purchasing an estimated 5.1 million metric tons, an amount that heavily weighed on the country’s balance of payments.

Botswana’s Economic Growth To Almost Double In 2017

AFRICANGLOBE - Botswana's economy will grow by nearly double in 2017 compared to the previous year as Africa's largest exporter of diamonds shakes off a slump in global commodity prices and electricity shortages.

15 Best Countries To Do Business In Africa

AFRICANGLOBE - The African continent is buzzing with potential. Rich in natural resources, a hardworking population, and huge gaps and opportunities for anyone who wants to succeed in business. Yes there are challenges, but there is also huge potential for growth in almost any sector. Based on Forbes‘ list, we have compiled Africa’s top countries for business.

Nigerian Teen Invents Fan That Lasts 19 Hours Without Electricity

AFRICANGLOBE - A 13-year-old Nigerian boy has invented a battery-operated fan that can last up to 19 hours when properly charged. Ukoma Michael’s invention, branded Blue Wind, are made from aluminium and wires and come in two varieties including round and rectangular table top fans.

How Black Countries Developed White Countries

AFRICANGLOBE - Aid is effectively flowing in reverse. Rich countries aren’t developing poor countries; poor countries are developing rich ones. In 2012, the last year of recorded data, developing countries received a total of $1.3tn, including all aid, investment, and income from abroad. But that same year some $3.3tn flowed out of them. In other words, developing countries sent $2tn more to the rest of the world than they received. If we look at all years since 1980, these net outflows add up to an eye-popping total of $16.3tn – that’s how much money has been drained out of the global south over the past few decades.
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