Egyptian President Abdel Fattah al-Sisi announced on Monday that the Suez Canal is losing around $800 million in revenue each month due to regional instability. President al-Sisi announced Suez Canal is losing around $800 million monthly. Houthi rebels responsible for disrupting global shipping and increasing costs. President Sisi estimated disruptions could cost Egypt $7 billion…
Aliko Dangote, President of Dangote Group, has unveiled plans to build Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State. Aliko Dangote plans to build Nigeria’s largest seaport at the Olokola Free Trade Zone in Ogun State. His company, Dangote Group, has resumed construction of a 6-million-metric-ton-per-annum cement factory in Itori, expected…
A $160 million South African phosphate mine, owned by billionaire Patrice Motsepe’s African Rainbow Capital Investments Ltd., is facing a new legal challenge after more than a decade of environmental disputes. The Elandsfontein Mine, owned by African Rainbow Capital Investments Ltd., faces new legal challenge from the World Wildlife Fund (WWF). The lawsuit was filed…
Nigeria recorded its highest spending on arms and ammunition imports in five years, with over ₦520 billion worth of weaponry brought into the country in 2024 alone. Nigeria’s highest spending on arms and ammunition imports in five years, with over ₦520 billion worth of weaponry brought into the country in 2024 2024 imports accounted for…
According to the TomTom Traffic Index, London has once again claimed the top spot as the city with the longest average commute time in the world, with drivers spending an average of 37 minutes and 20 seconds to travel just 10 kilometres. London has the longest average commute time in the world – 37 minutes…
Given Aliko Dangote’s momentum in the energy market via the Dangote Refinery, the Nigerian billionaire is set to introduce a new product soon. Aliko Dangote is set to introduce a new polypropylene product to the market. Dangote has begun the startup of its polypropylene facility in Nigeria’s commercial hub, Lagos. The facility will entirely satisfy…
Midway through the 2020s, it’s worth reflecting on the economic trajectory of the world’s largest economies. Using inflation-adjusted data from the International Monetary Fund (IMF), the following table outlines the top 10 countries by GDP growth between 2015 and 2025. China had a 74% GDP growth from $11.2 trillion in 2015 to $19.5 trillion in…
MTN Group reported a 68.9% decline in full-year earnings on Monday, citing currency devaluation and operational challenges in Sudan. MTN Group reported a 68.9% decline in full-year earnings. Challenges in Sudan and currency devaluation in Nigeria impacted performance. Despite challenges, MTN saw growth in its customer base with total subscribers reaching 290.9 million. MTN Group…
Throughout history, the deadliest disease outbreaks and pandemics have decimated societies, killing millions. From the Black Death to Covid-19, these outbreaks have changed societies forever. Five years after Covid-19 was declared a pandemic on March 11, 2020, the World Health Organization and The Economist have released a report that estimates the deadliness of the virus.…
