- A family's monthly mortgage payment as a proportion of their take-home pay is measured by the mortgage as a percentage of income; a smaller percentage is preferable. While some African cities boast a fairly low ratio, some have mortgage values that go through the roof. Some of Africa’s major cities…
- The trial of Binance executive, Tigran Gambaryan detained in Nigeria has been rescheduled following his absence in court. The case was adjourned on Friday by a court in the country’s capital Abuja.
- The Ugandan coffee trade in September saw notable expansion on all fronts. The Ugandan economy is very reliant on its coffee trade given that it is the continent’s largest exporter of the product. The product was also its number one export in 2023.
- Many governments around the world, particularly in Africa, have implemented measures to enable censorship of online internet usage. However, the rate of internet restrictions in Africa has dropped as some countries have embraced a less combative approach to opposing online content.
- Several African countries experienced economic difficulties last year as a result of internal and foreign socio-economic and political complications. However, it was projected that many African countries would see some degree of economic recovery in 2024. This economic forecast has been revised…
- Shell’s proposal to sell off its stake in Nigeria's onshore and shallow water operations has suffered a setback. According to Nigeria's oil regulator - the NUPRC, the deal was put on hold as the proposed new owners lacked the qualifications to manage the assets.
- Aliko Dangote who’s net worth has fluctuated since the year began is back to being Africa's richest man. His net worth in the past few days has gone from around $13 billion to now $27.8 billion. This is following months of back and forth between he and South Africa's Johann Rupert for the title of…
- The option of sending rejected African asylum applicants to their home continent is now being considered by the Dutch government. The plan to do this involves Uganda specifically.
- The aircraft manufacturing industry is a vital component of the global economy and a driver of innovation, growth, and progress. This industry enables global connectivity and transportation, supports national defence and security with a huge contribution to global gross domestic product (GDP).
- The degree of economic recovery in 2024 has differed greatly across Africa and even among the continent's subregions. However, East Africa remains the most notable subregion, with the highest rate of economic growth. And within East Africa, Kenya stands out owing to its robust currency and…
- Nigeria may finally be on its way to achieving self-sufficiency in petrol production as fresh data has shown a sharp decline in the volume of Premium Motor Spirit (PMS) imported in October 2024. This follows a boost in PMS production by Dangote refinery especially in the first two weeks of October.
- Large government debts, particularly in some African nations, could trigger a slew of economic challenges. These challenges often include currency depreciation and a loss of investor confidence, amongst other things. As a result, governments are tasked with the responsibility of easing its debt…
- The Congo Republic, an oil-rich nation, is now considering the feasibility of establishing an oil refinery. This idea is a collaborative initiative between the Central African Republic and Russia. It also follows the joint plan of both countries to establish an oil pipeline within the Congolese…
- Depending on variables like real estate values, income levels, and mortgage conditions, the ideal mortgage value in African cities might vary greatly. Examining the mortgage as a percentage of income, or how inexpensive mortgage payments are in relation to each city's average salary, helps identify…
- The 2024 edition of the Global Innovative Index published by the World Intellectual Property Organization (WIPO) has been released and it gives a glimpse into the current state of global innovation in 133 countries. The major findings highlight progress as well as challenges across major stages of…
- Very recently, it was reported that JPMorgan Chase, an American international financial firm, was granted a license to operate in Kenya. This is part of the company’s plan to expand its footprint on the African continent. To this effect, the US lender also has plans to establish a presence in the…
- Nigeria, which has been dealing with the worst inflation levels of 2024 caught a breather in July and then August when its consistently alarming inflation spike subsided. However, the most recent data indicates that the nation's economy appears to be back on the decline. The country's headline…
- The growing global demand for medical cannabis and its economic advantages have caused several African countries to pause the restrictions placed on the plant's cultivation. Its abuse and links to other health issues have led to injunctions against the consumption of the plant in most African…
- Last year presented economic challenges to several African countries owing to both internal and external complications, including the war in Ukraine. However, with the start of 2024, many African countries were projected to experience some level of economic recovery. This is despite soaring…
- Nigeria's aviation industry has received a major boost with the scheduled launch of the 15 million-litre capacity Joint User Hydrant Installation 2 (JUHI-2), the country’s largest airside aviation fuel depot. The facility located off the Murtala Muhammed International Airport road, Lagos will start…
- The Nigerian government has revoked its earlier decision to ground about 60 private jets in the country following the accumulated debts the operators piled up. In a new memo, the Federal Government has given private jet owners a 30-day ultimatum to pay their import duties or risk having their…
- During an event in Nigeria’s capital city, Abuja, a statement from the Senior Vice President of the World Bank Group, Indermit Gill, gave rise to a reaction he was unable to decipher.
- An inspirational yet problematic dynamic is at the center of the transition taking place in Africa's renewable energy sector: the involvement of women.
- Kenya has initiated plans to restrict the direct export of valuable minerals in their raw forms from the country. This follows the ongoing construction of mega gold processing plant worth around Sh5.8 billion which authorities say, portends a major policy shift to increase revenue for the…
- The Dangote refinery is set to meet with the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday with regards to a topic that has been on the lips of concerned Nigerians. Both parties are set to discuss the viability of a decrease in Dangote’s fuel price compared to the…
- A new report reveals that Kenya is rapidly adopting Elon Musk’s satellite internet constellation; Starlink. This trend is also prevalent in the country’s overall internet penetration with the current number of sim subscriptions recorded at 68.9 million following availability of 4G and 5G services.
- The Nigerian government has refuted claims that the country was snubbed in the recent elections which saw five African countries elected as new members of the United Nations Human Rights Council (UN-HRC). The President's adviser explained that Nigeria did not seek the position as the continent…
- In the second quarter of 2024, Nigeria experienced an increase in the number of consumers with access to electricity. This increase was seen in comparison to both the same period last year and the preceding quarter.
- Following an ambitious goal to refine oil in Nigeria for the first time in decades, the Nigerian industrialist, Aliko Dangote, has now set his sights on crude oil exploration. The initial date for this had been sometime in Q4 of 2024, however, Dangote's crude production would begin in 2025.
- Following an ambitious goal to refine oil in Nigeria for the first time in decades, the Nigerian industrialist, Aliko Dangote, has now set his sights on crude oil exploration. The initial date for this had been sometime in Q4 of 2024, however, Dangote's crude production would begin in 2025. This…
- During a press conference in Milan, on Sunday, Adolfo Urso, Minister of Enterprise and Made in Italy, said that Italy would be partnering with Kenya on a space project. He made the revelation on the eve of the 75th International Astronautical Congress (IAC). This project had been tabled earlier…
- The World Bank’s new data collection and analysis project, The Business Ready 2024 report (B-READY) which assesses the business and investment climate worldwide has been released. The report is scheduled to roll out for three years spanning 2024 to 2026. The current report which covers 50 economies…
- Nigeria's aviation industry has received a major boost with the scheduled launch of the 15 million-litre capacity Joint User Hydrant Installation 2 (JUHI-2), the country’s largest airside aviation fuel depot. The facility located off the Murtala Muhammed International Airport road, Lagos will start…
- Global perspectives are greatly influenced by the media, and this is particularly evident in the way that Africa is depicted. Even while there has been some progress in the past 20 years, the prevailing narrative is still primarily negative. Africa's politics, international participation, and…
- Systemic injustice, colonial exploitation, and economic marginalization have plagued Africa and the Black population for centuries. This narrative is challenged by the emergence of black billionaires, showing that substantial wealth can be generated and maintained within the African community.
- Nigeria experienced a substantial rise in capital importation during Q2 2024, marking a significant improvement compared to the same period in 2023. The banking sector contributed largely as total capital importation inflow reached US$2.6 billion, representing a 152.81% increase from the US$1.03…
- When asked to describe how they feel about the future of their country, nearly two in five youths (37%) in Africa reported feeling ‘optimistic’ or ‘excited’, a five-point increase from 2022.
- When asked to describe how they feel about the future of their country, nearly two in five youth (37%) in Africa reported feeling ‘optimistic’ or ‘excited’, a five-point increase from 2022.
- A new wave of gang violence in Haiti has spurred faster support from Kenyan security forces which has so far been instrumental in the Caribbean country’s fight against insecurity. A recent gang attack in the country reportedly claimed over 100 lives. In Response Kenya is looking to deploy more…
- Rwanda's efforts to curb the spread of the deadly Marburg disease has yielded fruits as health officials in the country and the Africa Centre for Disease Control and Prevention (CDC) have reported that the outbreak has been contained.
- The rift has pushed Somalia closer to Egypt, a country that has long been at odds with Ethiopia over Addis Ababa's construction of a massive hydroelectric dam on the Nile River.
- Nigeria’s National Assembly recently proposed a bill that would mandate official identification before a bank account can be opened. The bill was put forward to streamline taxation in the country and ensure compliance via an imposed tax identification number.
- The people of Cameroon are being prohibited from speaking on a subject of national interest. Concerning their president’s well being, the people of Cameroon have been instructed not to discuss the subject any further. Cameroonians have been questioning President Paul Biya's medical state, with some…
- The United Nations (UN) has projected that the global population will hit nine billion by 2037. African and Asian countries will lead the population boom and while Nigeria leads in the African continent, India will lead the Asian region.
- Nigeria's capital importation saw a significant increase in Q2 2024, rising sharply compared to the same period last year. Total capital inflows for the quarter reached US$2.6 billion, reflecting a 152.81% surge from the US$1.03 billion recorded in the same period last year.
- Data recorded in the first half of the year showed that products from Russia, led by wheat imports ranked as the fastest growing amongst Kenya’s top global source markets. Analysts at the Kenya National Bureau of Statistics (KNBS) noted that there was an increase in the import volume of wheat from…
- The economic situation in the Southern African country of Zimbabwe has brought with it several ramifications. One of such consequences is the steadily increasing cost of operating a business.
