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Champions League Roundup

October 25, 2023 by AFR Business

Real Madrid’s Rodrygo and Jude Bellingham scored in each half to secure a 2-1 win at Braga to keep their side three points clear at the top of Group C. The Spanish side dominated from the start and opened the scoring in the 16th minute, Vinícius Júnior putting the ball on a plate for Rodrygo to strike from close range.

Real missed several chances to extend their lead mainly through Vinícius who was often caught offside by an extremely high Braga defensive line. But they managed to score again when Rodrygo beat the offside trap and found Vinícius ghosting behind the defence. He collected the through ball and passed to Bellingham who, from the edge of the box, slotted an effortless curling strike inside the far post.

It was Bellingham’s 11th goal in 12 games in all competitions as he became only the second Real Madrid player to score in each of his first three Champions League games after Christian Karembeu in 1998. Braga pulled one back when Álvaro Djaló took advantage of a defensive mistake to score but Real held on despite late pressure thanks to two brilliant save by Kepa Arrizabalaga.

Napoli’s Giacomo Raspadori scored a second-half goal to secure a 1-0 victory at Union Berlin, stretching their opponents’ losing run to nine straight games in all competitions. In a match that had few highlights, the German side enjoyed the better chances in the first half but it was a run by Napoli’s Khvicha Kvaratskhelia down the left that decided the game as he set up Raspadori to fire home the winner.

Bayern Munich soaked up intense pressure from Galatasaray for more than 70 minutes before striking twice to carve out a 3-1 victory that kept them firmly top of Group A on nine points. The German champions unusually found themselves on the back foot with Galatasaray carving out 20 attacks to their six and the two sides were locked at 1-1 at half-time, Kingsley Coman’s opener cancelled out by Mauro Icardi’s penalty.

However Harry Kane scored in the 73rd minute and Jamal Musiala added another six minutes later to snap Galatasaray’s 23-match unbeaten run across all competitions. “It’s my first time in this stadium and I’m just about getting my hearing back now,” Kane said. “Thankfully, we were able to come through it today.” Elsewhere in the group, Manchester United beat Copenhagen 1-0 to earn their first points of the campaign.

Internazionale extended their unbeaten start in Group D with a 2-1 win over Red Bull Salzburg at San Siro. Oscar Gloukh gave the Austrians hope when he cancelled out an opener from Alexis Sánchez but Hakan Calhanoglu’s second-half penalty extended the fine form of Simone Inzaghi’s side. Brais Méndez’s 63rd-minute strike earned Real Sociedad a 1-0 win at Benfica.

Arsenal won 2-1 against Sevilla, and the Premier League team’s chances of qualifying were improved by Lens and PSV Eindhoven drawing 1-1 in the other Group B game. Johan Bakayoko put visitors PSV ahead in the second half but Elye Wahi equalised for the hosts shortly afterwards.

NIS boss orders investigation into misconduct at passport offices

October 16, 2023 by AFR Business

Caroline Adepoju, acting comptroller general, Nigeria Immigration Service (NIS), has directed an investigation into some complaints of alleged misconduct against officers of the service in some passport offices across the country.

This is contained in a statement by the service public relations officer, Adedotun Aridegbe, on Saturday in Abuja.

Mrs Adepoju, who expressed concern about the situation, directed an immediate investigation into the matter, especially in regard to the noncompliance with ministerial directives on the timeline of passport administration.

She said “following the complete clearance of passport application backlogs nationwide in line with the directive of the Minister of Interior, Olubunmi Tunji-Ojo, a new timeline of two weeks for processing and issuance of passports was announced by the minister on Oct. 4.

“The minister and the NIS provided different phone numbers to the general public to report misdemeanours by NIS personnel at any of the NIS offices.

“The service has on a daily basis, monitored the compliance level at all passport offices nationwide and at our missions abroad.

“We receive daily reports on the production and issuance of passports from all Passport Control Officers.

“As of today, most of our passport offices are producing passports of applicants enrolled on Wednesday, Oct. 11,” she said.

Mrs Adepoju, however, explained that applications for re-issuance of lost passports and change of data took a longer time.

She added that some applicants in this category might put the service in bad light when they complained of delay and noncompliance with the new timeline.

“These applications are required to go through security clearance and correspondence with Service Headquarters before approval for production,” she said.

The NIS boss appealed to members of the public to contact the service through its various public communication channels.

This, she said included Twitter, Facebook handles (@nigimmigration) and contact centre on 09121900655, 09121556359 and 09121477092 to report any form of misconduct by any member of the workforce, for appropriate sanctions.

Nigeria’s Finance Minister says national debt is sustainable

October 16, 2023 by AFR Business

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the country’s debt situation is sustainable and does not require restructuring.

Mr Edun said this on Saturday in Marrakech, Morocco, on the sidelines of the ongoing World Bank/International Monetary Fund (IMF) annual meetings.

The minister, however, agreed that the country’s debt service revenue was on the high side. He said that the response was to improve oil and non-oil revenue.

“Also, we have spent time meeting oil producers and encouraging them to invest further in production so as to boost revenue as oil prices are relatively high.

“President Bola Tinubu has also inaugurated a fiscal policy and tax reforms committee that is already working on improving revenue generation.

“The committee has a target of moving the country from under 10 per cent tax to GDP to 18 per cent within a year. That is also a way of dealing with debt servicing,” he said.

According to the minister, the more revenue a country has, the more affordable debt servicing will be.

“The world we are in now is a world of high-interest rates. Debt is becoming unaffordable,” he said.

He said that with the courageous steps that the Nigerian government under Tinubu had taken, the country was at the forefront of attracting Foreign Direct Investment (FDI) that would further boost revenue generation.

“There is more to be done, but Nigeria is on the right path, taking the right decisions for the economy to recover and attract FDIs, and also achieve inclusivity of women and youths.

“These are painful reforms, but there is a set of interventions being rolled out to cushion their effects and improve the well-being of Nigerians,” Mr Edun said.

Angola’s farming potential draws US interest

October 16, 2023 by AFR Business

A business delegation from the American agricultural sector, led by the Under Secretary of Agriculture for Rural Development of the United States of America (USA), Xochitl Torres Small, will visit Angola between the 28th of November and the 1st of December this year.
The announcement was made official in Washington D.C, by the Angolan ambassador to the USA, Agostinho Van-Dúnem, at the end of a meeting, Wednesday (11), with Jamie Haig, responsible for Business Missions at the US Department of Agriculture.

Also read: Angola AIPEX aims to internationalize more companies
According to a press release from the Embassy of Angola in the United States of America, to which ANGOP has had access, Torres Small’s trip, at the head of a business mission of 31 American businesspeople linked to agri-business, is an example of the investment that the Executive is making in this sector.

"We have been concerned with conveying to our American partners the need to look at food security as a factor of social cohesion, economic diversification and, above all, a factor for regional stability", said the Angolan diplomat.

Ambassador Agostinho Van-dúnem said that, in addition to American businesspeople, the US Department of Agriculture also invited businesspeople from the Democratic Republic of Congo, Zambia and Kenya who are expected to join the Angolan business class, in what is the first major American business mission to the African continent.

For the United States, Angola has a significant consumer market and great opportunities for the export of American products, such as poultry, legumes, wheat and wine. Local and American industrial partners also see opportunities for other products, including rice, soybeans, vegetable oil, beef and pork and distilled beverages, said the official.

According to the visit’s work agenda, the delegation will meet with national businesspeople and those from the invited countries.

With government officials, American authorities hope to evaluate and discuss topics such as climate change, biotechnology and the Angolan Government’s projects, aimed at expanding crops and livestock.

Meetings are also expected with the ministers of Commerce and Industry, Education, as well as a roundtable between the Department of Agriculture and the Angolan counterpart and businesspeople to discuss and promote environmentally friendly agriculture.

In 2022, US food and agriculture exports to Angola totaled US$236.8 million, making it the 7th largest African market for US exporters.

Africa Data Centres and US DFC reaffirms Ghana’s US$300M investment

October 16, 2023 by AFR Business

[Africa Data Centres DFC, Africa Data Centres Ghana]

The DFC and Africa Data Centres have signed a statement reaffirming their shared commitment to strengthen ICT infrastructure in Africa and Africa Data Centres’ intent to mobilise part of its existing DFC-financing commitment of $300 million to construct a first-of-its-kind data centre in Ghana; The investment is part of the organisation’s plan to strengthen ICT infrastructure in Africa; Opening doors to the new data centre facility reiterates the Ghanaian government’s intention to cultivate the potential of the country’s technology industry.

Africa Data Centres, a business of Cassava Technologies group, is pleased to announce that it has signed a statement reaffirming its ongoing partnership to strengthen ICT infrastructure in Africa with the U.S. International Development Finance Corporation (DFC). The statement marks DFC’s continued interest in supporting Africa Data Centres’ expansion in countries eligible for DFC financing, including Ghana, where Africa Data Centres intends to mobilise funds from its existing DFC financing commitment of $300 million to develop a first-of-its-kind data centre that will provide up to 30MW of IT load.

According to Hardy Pemhiwa, President and Chief Executive Officer of Cassava Technologies, “Over the past decade, Ghana has embarked on a transformative journey, and one area that is seeing significant focus is its burgeoning technology sector. With a youthful and dynamic population, a government that provides support, and a thriving startup ecosystem, Ghana is well-positioned to emerge as a prominent technology hub within the next five years.”

DFC CEO Scott Nathan said, “DFC’s support for Africa Data Centres is a demonstration of our commitment to 21st century infrastructure, and the United States’ commitment to supporting safe, secure, and trusted ICT infrastructure that connects communities to the opportunities of the global marketplace. Markets with trusted technology and dependable data storage can become magnets for businesses that create jobs and opportunities in high-growth sectors. As this planned facility becomes operational, it will help to enable development and economic growth for communities across Ghana.”

Ghana must continue attracting investment in infrastructure to secure its position as an up-and-coming technology hub in the coming five years. This statement is a step towards achieving this objective. Leaders from the DFC, Africa Data Centres, and the government celebrated their ongoing commitment to strengthen ICT infrastructure in Ghana.

Africa Data Centres says it is leaving no African behind. Ghana will benefit enormously from the new data centre, as it will allow for locally generated data not to leave the country’s borders. Additionally, the presence of local data centres will attract even more investment from international digital entities to help the country achieve its digital ambitions.

Public Private Partnerships are integral to all economies’ overall development and expansion. This partnership between Africa Data Centres and DFC highlights the key role that technology will play in ensuring that Ghana continues its upward trajectory of becoming a digital economy. “The Ghanaian government has astutely recognised the potential of the technology industry and has taken proactive measures to ensure its growth,” concluded Pemhiwa.

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