One important economic metric that emphasizes how affordable products and services are in a community, in this example, African cities, in relation to income levels is purchasing power. Business Insider Africa presents the top 5 African cities with the lowest purchasing power in 2025. This list is courtesy of Numbeo. Lagos ranks number 1 on…
An initiative to provide electricity to communities in Africa has been impacted by recent aid cuts initiated by the Trump administration. The Power Africa project has been impacted by aid cuts initiated by the Trump administration The project, launched by former President Barack Obama, aimed to double access to electricity in sub-Saharan Africa The termination…
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has announced plans to introduce a new foreign exchange law as part of efforts to enhance the country’s banking sector. Governor of the Bank of Ghana plans to introduce a new foreign exchange law The current Foreign Exchange Act 2006 regulates foreign exchange transactions…
Amid uncertainties surrounding Nigeria’s decision to revamp the visa-on-arrival (VoA) policy, the Nigeria’s Minister of Interior, has clarified that the policy has not been scrapped. Nigeria’s Minister of Interior clarifies that the visa-on-arrival policy has not been scrapped Decision to halt the visa-on-arrival policy has raised fears and panic among investors Nigeria plans to discontinue…
Sub-Saharan Africa is still the most expensive region in the world to transfer money to, with an average remittance cost of 8.37% in the second quarter of 2024, according to the World Bank’s most recent remittance report. Sub-Saharan Africa remains the most expensive region for money transfers, with an average cost of 8.37% in Q2…
Hyundai Rotem recently revealed that it has secured a 2.2 trillion won ($1.53 billion) deal with the North African country of Morocco. Hyundai Rotem secured a $1.53 billion deal with Morocco to supply advanced double-decker electric trains. The deal marks its entrance into the Moroccan market and is the company’s biggest railway supply agreement. The…
Rwanda is facing mounting pressure over its role in the DRC conflict, with the UK announcing fresh aid restrictions and limitations on bilateral relations. UK announces aid restrictions and limitations on bilateral relations with Rwanda over DRC conflict Rwanda faces scrutiny for alleged support of M23 rebel group in eastern DRC Calls for immediate ceasefire,…
Africa is home to a diverse range of nations, each with its unique security challenges and safety records. Rwanda has the lowest crime index in Africa at 26.9, with strict law enforcement and community-driven security initiatives Ghana is recognized as one of West Africa’s most stable and peaceful countries, with strong democratic institutions and low…
Forty nations from Europe, Asia, and parts of the Middle East secured visa-free entry into the U.S. However, none of Africa’s 54 countries were included. Forty nations from Europe, Asia, and parts of the Middle East secured visa-free entry into the U.S. None of Africa’s 54 countries were included in the Visa Waiver Program for…
