African oil giants Nigeria, Algeria and Angola watch as Russia turns to India for fuel after Ukrainian strikes hit refineries
The crisis has triggered rationing, long queues at filling stations and record gasoline price increases across Russia’s 11 time zones, forcing Moscow to seek fuel from other countries
Africa’s cement giants Dangote and BUA face new rival as Chinese-backed firm enters Nigeria’s cement market with $1 billion acquisition
The upper legislative chamber endorsed the transaction on Thursday after adopting the report of its ad hoc committee chaired by Senate Minority Leader Abba Moro, concluding a seven-month review of the proposed sale by Swiss building materials giant Holcim AG
Africa’s banking giants are converging on Kenya as battle for East Africa intensifies
The latest move comes from South Africa’s Absa Group, which plans to spend about $238 million to increase its stake in Absa Bank Kenya from 68.5% to as much as 85%, deepening its commitment to one of East Africa’s most profitable banking markets