With billions of barrels lying beneath the land and offshore, oil is one of Africa’s biggest money-makers. Morocco has the smallest proven oil reserves in Africa, with just 684,000 barrels, placing it 94th globally. Business Insider presents the top 10 African countries with the smallest proven oil reserves in 2025 The list is courtesy of Global…
Africans face significant challenges related to fraud and identity documents, which impact governance, financial systems, and social services. Identity theft and document forgery are significant challenges in Africa Weak identification systems in many African countries make it easier for fraudsters to manipulate official records Biometric fraud remained the most prevalent fraud type in 2024, while…
Tech billionaire Elon Musk sparked widespread debate on social media after accusing South Africa of having “openly racist ownership laws”. Elon Musk accused South Africa of having ‘openly racist ownership laws’ in response to a tweet by President Cyril Ramaphosa. President Donald Trump announced the U.S. would halt aid to South Africa over its land…
The Dangote Refinery took a bold step over the weekend: a considerable price reduction for Premium Motor Spirit (PMS), commonly referred to as petrol. Dangote Refinery reduced petrol price from N950 to N890 per liter Reduction in response to favorable global energy sector and decrease in international crude oil prices Marketers wary of challenges and…
The Kremlin has expanded the list of African friends whose banks may now trade currencies in Russia. These additions include Nigeria, Tunisia, and Ethiopia. Russia expanded the list of African countries eligible for currency trading in Moscow to include Nigeria, Tunisia, and Ethiopia. The total number of countries allowed for currency trading in Russia has…
Following Trump’s remarks, the South African rand dropped nearly 2% against the dollar in early Asia trading. U.S. President Donald Trump announced the halt of aid to South Africa due to its land expropriation policies. Trump claimed that ‘certain classes of people’ in South Africa were being treated ‘very badly’ without providing evidence. Trump’s comments…
The Democratic Republic of Congo has condemned the sponsorship agreement between major football clubs and the Rwandan government. DR Congo condemns sponsorship deal between football clubs and Rwandan government Rwanda has sponsorship deals with Arsenal, Paris Saint-Germain, and Bayern Munich, as well as a partnership agreement with NBA Africa Congo’s Foreign Minister urges Arsenal, Bayern…
The mining of manganese in Gabon significantly boosted the Central African country’s revenue in its previous fiscal year. Gabon’s revenue significantly boosted by manganese mining in 2024. Manganese necessary for manufacturing steel and batteries. Gabon’s manganese mining revenue grew by 5.8% from September 2023 to over $1 billion by 2024. In 2024, Gabon saw a…
U.S. forces conducted airstrikes in Somalia on Saturday, targeting a senior Islamic State attack planner and other militants, resulting in multiple casualties, President Donald Trump announced. U.S. forces conducted airstrikes in Somalia targeting senior Islamic State attack planner and other militants. The strikes were aimed at destroying caves and killing terrorists without harming civilians. The…
