- A new report indicates that Nigeria is losing $9.2 billion every year via its oil industry. Maritime experts revealed that the West African country is losing money to foreign businesses that can potentially be rerouted domestically. This new report highlights one of and not the only avenues Nigeria…
- It is almost impossible to overestimate the significance of low gasoline prices, especially in developing nations like many African countries. Low gasoline prices have an impact on many facets of a country's economy. They ensure that an economy can run efficiently while empowering businesses and…
- The regional governments in Africa enacted several revenue mobilization initiatives since 2022, including tax and subsidy reforms. The Africa Pulse report by the World Bank detailed a number of these tax reforms, highlighting the diverse revenue solutions across the continent. These reforms are…
- A company, led by a distant relative of the Abu Dhabi royal family, has agreed to lend South Sudan €12 billion ($12.9 billion) in exchange for repayment in oil.
- China has dethroned the United States of America (USA) as its approval ratings in the region rose six percentage points, from 52% in 2022 to 58% in 2023, two points ahead of the U.S. According to the report, China recorded its highest leadership approval rating in Africa in a decade, while the U.S…
- Inflation is expected to ease in several major African economies next year, however, it will remain stubbornly high in Nigeria due to the challenging terrain for the naira currency.
- High consumer prices sometimes intensify inflationary pressures, especially in Africa, by devaluing savings and fixed incomes. Low-income workers and retirees who depend on fixed pensions are disproportionately impacted by high consumer prices, which reduces real income and exacerbates economic…
- Cyber threats in Africa pose severe problems that require quick attention and coordinated action. As the continent enters the digital era, it must strengthen its defenses against emerging cyber threats. However, a new report shows that compared to other regions Africa suffers the least at the hands…
- To bolster climate action in Kenya the United Kingdom has pledged to sponsor 50 green investment projects across the East African country. A total of 10 counties in the country have been selected to develop these projects. This means that these 10 counties would get a percentage of the funding…
- Democratic Republic of Congo is losing huge funds in its efforts to combat ongoing conflicts in its eastern provinces, which have resulted in the displacement of over six million people.
- Russia is looking to establish its embassy in another African country in the next few weeks. Russia over the past few years has been looking to deeply root itself into African affairs in a move to usurp the West’s influence in the continent. The idea, based on a recent survey seems to be working,…
- While foreign loans may be an effective tool for financing growth and filling short-term financial shortfalls, unregulated accumulation can sow the seeds of economic insecurity and impede long-term success. Unfortunately, this has been the case for several African countries. Debt servicing has been…
- When we think about power and countries, the big players like the US, China, and Russia usually come to mind. But it's not just about them. There's a whole spectrum of power, from the traditional heavyweights to newer, subtler forms like sticky power, old power, new power, and soft power.
- Kenya has joined a growing list of nations seeking to regulate TikTok in a bid to combat false information, fraud, and the distribution of sexual content. According to reports, the Kenyan government has advised lawmakers against banning TikTok and instead recommended stricter rules to regulate the…
- Democratic Republic of Congo (DRC) has raised concerns with Apple Inc. that the company’s supply chain may be adulterated by conflict minerals sourced from the country.
- Over the past year, fuel prices increased in several African countries. Most of Africa, especially its biggest nations, faced significant fiscal challenges at the start of 2023 and, consequently, the new year. However, these pressures are projected to be eased, as measures and initiatives are being…
- Uganda’s Ministry of Finance recently disclosed that gold is yet again Uganda’s major export. This assessment is based on data compiled from the last 12 months leading up to February, where the gold trade accounted for 37% of all export revenues. The gold trade in Uganda had been hampered by tax…
- A recent survey suggests that the approval ratings of China and Russia have surpassed the approval ratings of America in Africa. While the US had a 56% approval rating in 2023, China had 58%, and Russia; 64%. Across the globe, however, the US’s approval rating remained below the 50% mark, while it…
- South Africa is famous for many reasons, but its economic status stands out. The country holds the title of being the most industrialized, technologically advanced, and diversified economy in Africa.
- According to the International Monetary Fund, several African countries, during the year, would displace each other in the list of largest economies on the continent. Of these countries Kenya is set to go up, taking the place of Angola as the 4th largest economy in Sub-Saharan Africa. The East…
- Moroccan authorities are looking to transform the country into an aviation hub, attracting investors seeking to diversify their supply chains across countries.
- A new report has found that hackers usually experiment with their latest ransomware in less protected regions like Africa, Asia and South America before targeting countries in Europe and Northern America.
- On Meta and Twitter, Instagram and WeChat, YouTube and TikTok, and in countless WhatsApp groups, farmers around the world use everyday social media platforms to support their agricultural livelihoods.
- Africa's prominence globally continues to rise tremendously. With an economy of youthful minds and precious resources with enormous promise, the continent continues to make a case for why it should be regarded with greater importance than it is now. One aspect of Africa’s growth is in its military…
- Russia is considering opening diplomatic missions in a few African nations. For the past few years, Russia has been looking to grow its influence in Africa. To which it has launched several initiatives and programs. In the country’s latest move to win over the “Mother Continent,” Russia has…
- Throughout history, humans have been a migratory species. Today, more people reside in countries different from their place of birth than ever before.
- Illegal migrants deported from Britain to Rwanda will be accommodated at the Hope Hostel, which hosted student survivors of the 1994 genocide for nearly three decades.
- Africa’s growth for years has been marred by several socioeconomic and political complications. One such issue has been the prevalence of sub-par leadership. While the continent seems to be on an upward trend on almost every metric, there is no denying the fact that some of the continent’s most…
- The Nigerian government has shut down a Chinese business over allegations of discrimination. The Chinese establishment had been accused of refusing Nigerians entry into the supermarket, tagging it Chinese only. The Chinese supermarket has however denied any allegations of discrimination, noting…
- When we look at countries around the world and their leadership through the lens of power, we use different terms to describe their influence and strategies: Hard Power, Soft Power, sticky power, old power, and new power.
- The 2024 Smart City Index has been released. This year’s index ranks 142 smart cities worldwide based on data analyzed by researchers and survey responses of 120 residents in each city.
- Just a few days after the United States announced its decision to withdraw its 1,100 troops from the West African nation, some U.S. officials in Washington are starting to admit that the Biden administration’s strategy to maintain diplomatic relationships with war-battered African countries and…
- According to the Egyptian Ministry of Tourism and Antiquities, a 3400 old Egyptian relic taken away from the North African country, a few decades ago has been returned. The 3,400-year-old statue of Ramesses II, an ancient Egyptian pharaoh, was recently recovered from Switzerland after it had been…
- Africa is a continent full of unrealized potential and emerging prospects, yet it is sometimes seen through a prism of difficulties and hardships. With its abundance of natural resources, youthful population, and quickly urbanizing cities, Africa is positioned to dominate the world economy in the…
- For close to a year, Nigeria's economy has endured some of its most severe setbacks in history. This is the outcome of a couple of economic policies implemented by the country's new administration, including the elimination of gasoline subsidies and the floating of the currency (Naira). Since the…
- The Stockholm International Peace Research Institute (SIPRI) recently published its Military Expenditure Database for 2023. Data from the report showed that military spending is up in Africa, the Middle East, Europe, Asia, Oceania, and North and South America. This is the first time since 2009 that…
- Africa currently holds a total investable wealth of USD 2.5 trillion, with its millionaire population expected to rise by 65% over the next 10 years.
- According to a recent research, money laundering has become a very prevalent problem in Kenya's construction sector. The data from the research shows that this industry accounts for more than half of all recorded occurrences of money laundering. Other criminal activities in the industry include tax…
- Kenya and Uganda have agreed to integrate cultures to boost tourism revenue. The two East African countries have set their sights on cross-cultural tourism to help increase the number of visitors they receive. The decision was made after the Ugandan consulate to Mombasa attended the Uganda Festival.
- Nigeria’s Minister of Finance Wale Edun, recently relayed that Nigeria is in the perfect position to attain a loan from the World Bank. During a press conference, he noted that Nigeria qualifies for a $2 billion loan from the global lender. He also noted that the African Development Bank has been…
- The United States has decided to withdraw its troops from Niger. This decision follows an agreement between U.S. Deputy Secretary of State Kurt Campbell and Niger's leadership, a source familiar with the matter told Reuters..
- A new report reveals that money laundering in Kenya is most prevalent in the construction industry. The reports showed that over 50% of the cases of money laundering reported were linked to the country’s construction sector. Other crimes such as tax evasion, sanctions evasion, corruption, asset…
- Zimbabwe has requested the assistance of the United States in reminding banks that Washington has recently eased some of its sanctions on the southern African country.
- The latest Nigerian sensation, Tunde Onakoya has surpassed the record for the longest chess marathon. He achieved this feat by playing for 58 consecutive hours in New York's famed Times Square. He has also promised that proceeds from his efforts and donations would be put to philanthropic use.
- Growing rates of inflation have presented serious issues for African countries over the years. Despite being considered developing nations, several of the countries on the continent still have to contend with this issue, constituting a double-layered problem. This leads to complications that may be…