In the first 10 months of 2021, a plethora of foreign and local investors have invested a combined sum of N412 billion (bn) ($992 million) across 35 Nigerian startups. Similarly, Google has pledged to invest $1bn in Africa over the next five years aimed at promoting digital transformation and innovation across the continent.
OPEC and its allies kept to their current output expansion plan, despite demand concerns following the emergence of the new Covid-19 variant (Omicron). The current plan involves ramping up output by 400,000bpd each month from August through 2022 until pre-pandemic pumping levels are attained as the alliance attempts to gradually reverse last year's record supply cuts of roughly 10 million barrels per day.
The slow rebound in international traffic and constrained business travel are impeding the recovery in global air traffic, causing global revenue passenger kilometers (RPK) to be lower than we originally expected, says Fitch Ratings.