Business
Made – in- Africa Clothings, Beverages, Bags Entering Chinese Market; See how
The African Export-Import Bank (Afreximbank) and Development Reimagined (DR) an international consultants, have been promoting the entry of high-end value-added Made-in-Africa goods from such sectors as fashion, skincare and beverages, into the Chinese market.
In a statement, the bank disclosed that the brands includes Maxhosa and Jessica Jane, two unique and luxury South African fashion brands; Taibo Bacar, Nkanda Yetu and Larry Jay, sustainable fashion brands from Mozambique, Zambia and Ghana respectively; Skin Gourmet, a beautifully branded Ghanaian skincare company; Zaaf – a handcrafted luxury bags and leather brand from Ethiopia.
Others are Monks Gin, a South African gin company; Yenae – a stunning jewelry brand from Ethiopia; and many more.
Mr. Yusuf Daya, Director, AU/AfCFTA Relations and Trade Policy, Afreximbank, said : “We are encouraged about our partnership with Development Reimagined, aimed at enabling access of African brands to global markets.
He said that the vast Chinese consumer market provides immense opportunities for African businesses.
” We urge African entrepreneurs to embrace this challenge, crafting goods that resonate with the market, not only boosting the presence of African products in China but also fostering more jobs, collaborations, and economic growth.
Alongside our partners, we will continue forging global partnerships that support African trade,” he said.
Ms. Hannah Ryder, CEO, DR, said that the Afreximbank-DR partnership marks a significant milestone in promoting trade and economic cooperation between Africa and China.
Noting that the Chinese consumer market, valued at US$6.3 trillion, was projected to experience substantial growth), DR reported that African exports to China amounted to US$117.5 billion in 2022, a remarkable 24-fold increase compared to 2000.
The collaboration with Afreximbank is expected to include follow-up activities over the next six months to cement the sales and partnerships made at the 2023 China-Africa Economic and Trade Expo (CAETE) held recently in Changsha.
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Business
Traders shut down Enugu ‘s Obollo-Afor market over N25,000 haulage levy
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
All shops and markets at Obollo-Afor, Udenu Local Government Area of Enugu State were shut yesterday, as traders staged a peaceful protest against alleged selective collection of a N25,000 haulage levy in the market.
The traders, who locked their shops and took to the streets in large numbers, carried placards with various inscriptions, alleging that the Enugu State Internal Revenue Service (ESIRS) had singled out Obollo-Afor Market for the collection of N25,000 haulage fee on every truckload of goods loaded or offloaded in the market.
However, Chairman of ESIRS, Emmanuel Nnamani, in a letter to the traders, said the haulage levy was not paid by traders buying or selling goods in the markets, but was applicable strictly to truck drivers plying interstate routes.
Addressing officials of the Udenu Local Government Council at the council secretariat, where the protesters marched to present their grievances, Chairman, Obollo-Afor Market Traders Association, Charles Eze, lamented that truck operators bringing foodstuffs, building materials, and other commodities to the market had stopped coming because of the levy.
Business
Nigeria’s oil production dropped by 4% in July – NUPRC
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
The Nigerian Upstream Regulatory Commission (NUPRC) data has shown Nigeria’s average daily oil production fell by four percent in July, 2026.
According to the NUPRC, Nigeria produced 1.505 million barrels per day (bpd) of crude oil and 0.17 million bpd of condensate, bringing the combined daily production to 1.67 million bpd.
The commission said the country met and exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd for the third consecutive month.
“In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.”
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