Nigeria’s external reserve saw a loss of $1.19 billion in just 3 weeks after the country had recorded a high of $40.920 billion on the 6th of January 2025. Nigeria’s external reserve declined by $1.19 billion in 3 weeks. Gross external reserves dropped to $39.723 billion by January 31st. Financial Derivatives Company predicts a further…
The Eastern Congo rebel coalition, which includes the M23 group, has announced a ceasefire for humanitarian reasons, yielding to international pressure to halt the escalating conflict. The Eastern Congo rebel coalition, including the M23 group, has announced a ceasefire for humanitarian reasons. The ceasefire is set to take effect on February 4, and the group…
The Absa Africa Financial Markets Index reported significant market developments in 2024. In Africa, South Africa tops the list for foreign exchange accessibility, scoring 87 out of 100. Business Insider Africa presents the top 10 African countries with easy access to foreign currency. The list is courtesy of Absa Africa Financial Markets Index. Among African…
The reputation of Volodymyr Zelenskyy, Ukraine’s president, may be at stake as the country’s presidential elections could become a reality. Zelenskyy’s presidency may be at stake if presidential elections are held due to martial law. Ukraine declared martial law following Russia’s invasion in February 2022. The U.S. and Russia are urging Ukraine to hold elections,…
Ghana’s economy, one month into its current administration under its new president, John Mahama, has recorded some marginal gains, specifically in its inflation rate. Ghana’s consumer inflation decreased from 23.8% in December to 23.5% in January year-over-year. Slowing in non-food inflation contributed to the decline while food prices continue to rise. The inflation rate of…
The Congolese government, alongside U.N. officials and Western powers, including the United States, has accused neighbouring Rwanda of exacerbating the conflict by deploying thousands of troops and heavy weaponry in support of M23. Rwandan President Paul Kagame denies knowledge of Rwandan troops operating in eastern DRC. UN experts estimate 3,000 to 4,000 Rwandan soldiers are…
Nigeria’s upstream oil regulator announced on Monday that oil producers who fail to meet their required supply quotas to local refineries, including the massive Dangote Refinery, will be denied export permits. Oil producers failing to meet supply quotas to local refineries will be denied export permits. Domestic crude supply obligation ensures local energy needs are…
A global ranking assessing countries’ digital well-being has highlighted the state of digital quality across African nations. Business Insider Africa presents 10 African countries with best digital quality of life The ranking is courtesy of the 2024 Surfshark Digital Quality of Life Index South Africa, Morocco, and Mauritius led the ranking reflecting challenges in internet…
A transparent financial market in Africa relies on multiple key factors, including macroeconomic stability. The Absa Africa Financial Markets Index reported significant market developments in 2024 The report highlighted the importance of ESG reviews and credit ratings in improving Africa’s financial markets The African countries with the most transparent financial markets during the period include…
