Business

Household Consumption accounted for the largest share of real Gross Domestic Product at market prices in the first and second quarter of this year according to data from the National Bureau of Statistics. Femi Oladehin, Partner at Àrgentil Capital Partners joins CNBC Africa to unpack the numbers and drivers of inflation in Nigeria.

Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.

The Lagos State Internal Revenue Service has deployed an upgraded electronic process for the collection of Hotel Occupancy and Restaurants Consumption Tax in the state. How efficient is the process in driving tax revenues? Theo Emuwa, a Partner at Aelex, joins CNBC Africa for this discussion.

David Doyle brings you a round up of this week's business news from sub-Saharan Africa, including a setback for Zambia and currency woes in Nigeria.

Amid an ongoing strike by its mechanics in Sweden over a refusal to sign a collective wage agreement, Tesla has also filed a lawsuit against the country's postal workers. They have blocked deliveries of licence plates for its new cars, in solidarity with workers at the electric vehicle maker. Also in this edition, Chinese fast fashion giant Shein files to go public in the US and China tries to convince international investors to keep their supply chains in the country.

One month after opening a Tesla factory in Berlin, tech enterprenuer and billionaire Elon Musk opened the newest electric car making facility in Austin, Texas.

Today's shoppers have become accustomed to doing their own research to get the maximum value out of every dollar they spend, and to feel secure about the purchases they're making.

The Nigerian Exchange in a bid to further deepen the capital market engagements is targeting increased issuances of Islamic Finance instruments especially from Corporates. Jude Chiemeka, Executive Director, Capital Markets at the Nigerian Exchange joins CNBC Africa to discuss partnerships with the Islamic Development Bank Institute and near term outlook for the market.

Changpeng Zhao has reached a settlement with the US amid allegations his crypto platform failed to stop money laundering. Binance is the world's biggest crypto exchange by trading volume.

The CEO of Binance, Changpeng Zhao, has pleaded guilty to criminal charges, and has stepped down from the world's largest cryptocurrency exchange. Binance will pay more than $4 billion to the US government and admit wrongdoing, after it was accused of operating as an unregistered securities exchange among other violations of US money-laundering laws.

The project involves the construction of a rail and road system connecting Thailand's eastern and western coasts. It is designed to provide an alternate trade route between the Indian and Pacific oceans.

After two quarters of stagnation, gross domestic product (GDP) fell 0.1% in the third quarter. Some economists expect Germany to enter a technical recession early next year.