Africa Covid19 

World Bank approves $114.3m grant for Nigeria to boost COVID-19 response

The World Bank Board of Directors, on Friday, approved a $114.28 million financing package to help Nigeria effectively respond to the threat posed by COVID-19 to the country’s economy. The grant includes $100 million credit from the International Development Association (IDA) and $14.28 million from the Pandemic Emergency Financing Facility to prevent, detect and respond to the threat with a specific focus on state level responses. Through the COVID-19 Preparedness and Response Project (CoPREP), the World Bank said the Nigerian government would provide grants to the 36 states and the Federal…

Read More
Manufacturing 

Lagos producer Transgreen Nigeria opens facemask factory with 240,000 a day capacity

LAGOS maker Transgreen Nigeria has actually stepped up the largescale production of facemasks in a bid to capitalize growing demand in reaction to the coronavirus pandemic by opening a 240,000 a day capability production plant. Like the majority of other nations, Nigeria has passed laws to impose the using of facemasks as the Covid-19 pandemic rages. Nevertheless, with every other country also having to handle its own domestic need, there are no facemasks to purchase on the global market, forcing Nigerian producers to step into the breach. Currently, a number…

Read More
North America 

How Costa Rica Slowed, Stopped, Then Reversed Deforestation in Their Rainforests

In the 1970s and 80s, Costa Rica had the highest deforestation rates in Latin America but the next few decades saw the country halt her forest loss, initiate replanting and conservation efforts, and regrow almost all of her lost tree cover. Their methods have set up the most successful forest management model on earth. Leading the way in the fight against human-accelerated climate change, Costa Rica’s success story of sustainable forestry was strengthened by a simple strategy of valuing forests by paying for their restoration, through their Payment for Environmental…

Read More
Africa Covid19 

MTN Nigeria’s revenue dips by 6% as data income hits N79bn

MTN Nigeria has reported a six percent decline in total revenue in the second quarter of 2020 as the COVID-19 pandemic continued to impact businesses. According to the half-year financial results published by the company on Wednesday, data revenue grew by 7.8 percent from N74.1 billion in the first quarter of 2020 to N79.9 billion in the second quarter. However, voice revenue declined by -9.6 percent from N226.9 billion in the first quarter to N205.2 billion in the second quarter. On a year-on-year basis, the telco said it added 9…

Read More
Africa Manufacturing 

GBfoods Relaunches its Bama Product With State-of-the-art Factory In Nigeria

Bama Mayo, leading mayo brand from the portfolio of GBfoods Nigeria, just recently completed its advanced production factory in Sango, Ogun State. The factory which is the biggest in Sub Saharan Africa, will support the manufacturing of the Initial dish Bama mayo for Nigeria and West Africa. The factory effectively rolled out its first batch of products to the Nigerian market just recently. GBfoods Nigeria is a subsidiary of GBfoods Africa, a partnership between GBfoods and Helios Investment Partners. This financial investment is an added guarantee of GBfoods’ dedication to…

Read More