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By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- Energy producer KenGen, has announced a Ksh.13.9 Billion profit before tax for the Financial year ended June 2020. This translates to 8.3% growth in profit from the previous financial year where the company announced Ksh 11.6 Billion profit before tax. The increase was mainly attributed to the additional revenue contribution by the 165MW Olkaria V geothermal power plant and proceeds from the ongoing geothermal drilling project in Ethiopia. “We reported a 13.4% growth in electricity revenue, mainly due to the full operationalization of the 165MW Olkaria V geothermal power plant in November 2019, which boosted geothermal production by 14%,” the Managing Director and CEO, Mrs. Rebecca Miano, said. Consequently, the Board has...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Executive Director of Consultancy Group Wealth Masters, Benjamin Acheampong, asserted the idea of “Africa Rising” will continue a misname until circumstances for accomplishing employment on the mainland with solace are established. At a virtual event on January 29th, 2021 by Wealth Masters Group, which is under the theme “Righting the Wrongs of Doing Business in Africa Summit”, where organizers slate to contribute understandings and antidotes to enhance the business condition in Africa and take advantage of the AfCFTA ambition. He explained,  administrations expect to concentrate on improving internet services, communication and transport in order to ensure a smooth implementation of the AfCFTA. “When all...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Established in February in 2019, OVEX delivers South Africa’s heftiest choice of digital investment needs and has connected with various steering cryptocurrency firms and entailing Invictus Capital, Hyperion, and TrueUSD. South Africa. With $270 million in monthly trading percentage and a valuation of over one billion South African Rand (ZAR), OVEX is providing primary brokerage assistance to organizations and high networth individuals across Africa amidst the soaring need for crypto admission. “Operating out of one of the continent’s leading cryptocurrency markets in South Africa, OVEX understands the value of digital assets its economic climate and the novel financial opportunities the platform can offer...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- Nigerian owned businesses and businesses operating in Nigeria recorded over 106 corporate deals valued at over $4.3 billion (N1.63 trillion) in 2020. This is according to data compiled by Nairalytics the research arm of Nairametrics between January and December 2020 all at different stages of completion. Nigeria’s investment climate was precarious in 2020 as the global economy spluttered due to the COVID-19 pandemic. Nigeria’s GDP contracted by 3.62% (year-on-year) in real terms in the third quarter of 2020 after enduring a 6.1% contraction in the previous quarter, a development that was also attributed to the sustained shocks emanated from the continued spread of the virus as well as weak global oil prices. Foreign...