Alexander Onukwue
15 article(s) here · 1 carrying a prediction
🔮 Enhanced domestic refining capacity has reduced Africa’s biggest crude oil producer’s longstanding dependence on fuel imports, and that capacity is set to increase further with Dangote’s plans to double output to 1.4 million barrels per day.
🔮 But it remains unclear where the planned refinery in Lamu, which Dangote aims to complete by 2030, will secure its feedstock from: Kenya imports nearly all of its oil from the Middle East.
🔮 “Pay had to be subsidized to make drivers willing to take rides.
🔮 When the initial offer closes next month, the company will have raised more than $4 billion at about a $50 billion valuation, if demand matches the year-long buzz partly driven by the company’s pledge to pay dividends in US dollars.
🔮 The initial public offering of the Dangote Refinery in Nigeria will open on Monday, in what is set to be the largest debut on any African stock exchange.
🔮 The News
Nigerian healthcare investors are positioning to take advantage of untapped commercial opportunities in a sector that new research says will generate more than $50 billion in sales by the end of the decade.
🔮 S&P Global Ratings downgraded Senegal’s long-term foreign currency rating, citing a high chance that the country will default on its debt following an agreement reached with the IMF for a $2.2 billion loan.
🔮 The company, whose 700,000 barrels-a-day oil plant is Africa’s largest, is set to raise about $1.6 billion.
🔮 The company, which began offering new cars to Nigerian Uber drivers five years ago with a payment plan tied to daily earnings, is set to leave the country as Uber’s shock exit makes its business untenable, a person with knowledge of the plans said.
🔮 The opposition African Democratic Congress said it will anchor its campaign on a promise to reinstate the multibillion-dollar program, whose removal three years ago drove up food and transportation prices to create a cost-of-living crisis that still persists in Africa’s most populous country.
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