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Ethiopia Passes a Record $14.6 Billion Tax-Financed Budget
Ethiopia’s parliament ratified a record 2.34 trillion birr budget for 2026/27, financed mostly by taxes — a self-reliance test for a post-default economy. The post Ethiopia Passes a Record $14.6 Billion Tax-Financed Budget appeared first on The Rio Times .
Abu Dhabi Buys Shell’s South African Network for $1 Billion
Abu Dhabi’s ADNOC Distribution agreed its largest overseas deal: Shell’s 580-station South African network for about US$1 billion, closing in 2027. The post Abu Dhabi Buys Shell’s South African Network for $1 Billion appeared first on The Rio Times .
Tony Elumelu to Step Down as UBA Chairman After 12 Years
Tony Elumelu retires as UBA group chairman on 21 August under Nigeria’s 12-year board tenure cap; Heirs Holdings executive Emmanuel Nnorom takes over. The post Tony Elumelu to Step Down as UBA Chairman After 12 Years appeared first on The Rio Times .
Dangote Overtakes the US as Europe’s Top Jet Fuel Supplier
Nigeria's Dangote refinery shipped about 466,000 tonnes of jet fuel to Europe in June, overtaking the United States as the region's top supplier. The post Dangote Overtakes the US as Europe’s Top Jet Fuel Supplier appeared first on The Rio Times .
China Set to Revive Congo’s Potash Mining Before Dangote
The Republic of Congo expects potash production to resume in early 2027 through a Chinese-backed project, ahead of Aliko Dangote's planned $3 billion venture. The post China Set to Revive Congo’s Potash Mining Before Dangote appeared first on The Rio Times .
Ethiopia’s ‘Sunday Morning’ Wins at Annecy, Draws Disney
Ethiopian short Sunday Morning won two awards at Annecy's MIFA market, and Disney has optioned it for a series — a breakout for a scene still in its infancy. The post Ethiopia’s ‘Sunday Morning’ Wins at Annecy, Draws Disney appeared first on The Rio Times .