If you’re curious about how business is moving across Africa, you’re in the right place. From legal battles and government decisions to shifts in the airline industry, recent stories show a continent full of economic twists and turns.
Take Kenya, for example. The High Court recently seized over 700 million Kenyan shillings from two private jet companies accused of handling crime proceeds. This isn’t just a legal headline; it highlights how authorities are cracking down on dirty money in the business sector.
Down in Nigeria, the Central Bank is keeping interest rates steady at 27.5%. Why? Official and parallel foreign exchange rates are getting closer, and inflation is easing up a bit. This shows the bank’s careful approach to stabilizing the economy without shocking the market.
On the transport side, Avelo Airlines is pausing flights between Lakeland and Atlanta due to low demand — they’re only filling 40% of the seats. But it’s not all bad news. The airline plans to open new routes, like Nashville and maybe Detroit, aiming to bounce back stronger by expanding where more passengers want to fly.
Over in Nigeria again, President Tinubu is letting the national oil company use its dividends to cover fuel subsidies. It’s an effort to reduce government spending which has ballooned to around N68 trillion. Moves like this show tough choices governments face to keep economies running.
And it’s not just economics. Nigeria’s labour unions recently started an indefinite strike over wage demands and electricity price hikes. This reminds us how closely social issues tie into business and economic stability.
Across the Atlantic, Miami is booming as a legal hotspot thanks to increasing Latin American wealth. Law firms there are expanding to offer expert advice on estate planning and taxes. This demand reflects growing global linkages affecting business everywhere.
Keep an eye on these stories—they tell you where the money is moving, which industries are changing, and how governments are reacting across Africa. If you follow business news regularly, understanding these trends helps you see the bigger picture of the continent’s economic future.
30 Jul
A Kenyan court has ordered two private jet companies to hand over Ksh706 million after finding the funds were proceeds of crime linked to Chris Obure. The Assets Recovery Agency successfully argued the funds had no legitimate source. The government will now claim the forfeited money.
21 May
Nigeria’s Central Bank has kept its main rate at 27.5%, citing nearly equal official and parallel FX rates, cooling food inflation, and rising reserves. Governor Olayemi Cardoso credits recent reforms for stronger market confidence but signals careful monitoring ahead.
15 Dec
Avelo Airlines is set to suspend flights between Lakeland and Atlanta by January 5 due to low passenger numbers, reaching only 40% capacity. Challenges include lack of same-day returns and no interline agreements. Despite the route's pause, Avelo sees opportunities for growth, with plans for new routes like Nashville and potential future ones to Detroit, expanding their fleet and destinations.
1 Nov
Miami is experiencing a legal boom fueled by Latin American wealth, as wealthy individuals and families seek specialized legal services in estate planning, tax law, and real estate. Amid complex global regulations, Miami law firms expand to meet demand for sophisticated advice, solidifying the city's reputation as a hub for international wealth management and legal expertise.
20 Aug
President Bola Tinubu has given the green light to the Nigerian National Petroleum Company Limited (NNPC) to use its dividends to cover the cost of fuel subsidies. The strategy aims to ease the financial burden on the Nigerian government, with fuel subsidies already costing the nation around N68 trillion since the current administration began.
27 Jun
Nick Imudia, former CEO of the Nigerian e-commerce platform Konga, reportedly took his own life on June 25 by jumping from the balcony of his apartment in Lekki, Lagos. Before the incident, Imudia had communicated his final wishes to his brother and daughter. At the time of his death, he was the CEO of D.light, a solar energy solutions company.
1 Jun
The Nigeria Labour Congress and the Trade Union Congress have initiated an indefinite strike on June 3rd to protest the government's refusal to increase the minimum wage and reverse the electricity tariff hike. Both unions have united in their demand for a N615,500 minimum wage, citing the high cost of living and inaction on the part of the government.