Day: March 9, 2021

How Ghana power system collapsed, plunged country into total blackout 

Aoko Benjamin

  Here is a report on power crisis including a two-year-long crippling power outages between 2013 and 2015 in the West Africa country.     Ghana suffered a nationwide power outage late Sunday afternoon after the shutdown of the power system, officials confirmed in a statement. The state-owned power distributor, Ghana Grid Company Limited (GRIDCo), said ‘a challenge to the power system led to a total system shutdown around 2:10 p.m. local time.’ It said the technical team was still working to restore power supply to all bulk supply points…

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Crowdyvest exits EMFATO Holdings, leaves crowdfunding space

Tade Salako

  EMFATO Holdings (owners of Farmcrowdy and investors in Plentywaka) has announced the exit of one of its portfolio companies – Crowdyvest, following up on new investments into the startup to grow as a digital savings company in Nigeria Launched just over a year ago, Crowdyvest, a statement sent to Platforms Africa read, has over 10,000 members who have used opportunities on it’s platform to sponsor projects in Agriculture, Real Estate, Transportation, Health and Education sectors. The company was previously led by its Co-founder & CEO, Onyeka Akumah now has…

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Confusion in EFCC as Bola Tinubu assets’ file disappears from CCB vault

Gbenga Adeoti

The case file of top Nigerian politician and a former governor of Lagos State, Asiwaju  Bola Tinubu, has reportedly disappeared from the storage facility of  the Code of Conduct Bureau that has held it for years. This has simultaneously caused confusion at the Economic and Finacial Crimes Commission (EFCC), which had begun a fresh probe into the allegation of graft against Tinubu. Three officials familiar with the matter said that the bureau started looking for Tinubu’s asset filings after the EFCC requested copies as part of an ongoing investigation into…

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How Oil Skyrocketed To $71 Per Barrel, Highest In 14 Months

Efe Wellington

  Here are details of what Nigerians stand to lose despite the oil price that pushed their country’s Excess crude earnings to $43.2m in 24 hours Crude oil, Nigeria’s biggest revenue earner, hit $71.38 per barrel on Monday, being the highest point in 14 months. This new price, which  pushed Nigeria’s excess crude earnings on 1.8 million barrels output to OPEC market to $43.2 million in  one day, worsened the forecast for high price of refined petroleum product for the country, which depends largely on import to service its local…

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