Somalia is ready to grant the United States exclusive access to key air bases and ports, according to a letter from President Hassan Sheikh Mohamud to President Donald Trump. Somalia offers exclusive access to air bases in Balidogle and Berbera, as well as ports in Berbera and Bosaso to the United States. The offer aims…
Kenya has emerged as the largest importer of second-hand clothes in Africa, earning the unfortunate distinction of being an easy dumping ground for used apparel while struggling to revive its collapsed textile industry. Kenya is the largest importer of second-hand clothes in Africa, surpassing Nigeria Kenya imported second-hand clothes and textiles worth Sh38.5 billion in…
The global economy is significantly concentrated, with just three regions—North America, East Asia, and Europe—accounting for approximately 50% of the world’s Gross Domestic Product (GDP). North America, East Asia, and Europe account for 50% of the world’s GDP Africa lags behind in GDP contribution despite abundant resources and growing workforce Africa has the potential to…
Tony Elumelu, a renowned Nigerian billionaire and business leader, has been appointed to the International Monetary Fund’s (IMF) Advisory Council on Entrepreneurship and Growth. Tony Elumelu appointed to IMF’s Advisory Council on Entrepreneurship and Growth Council’s mission is to promote resource allocation, innovation, and sustainable private sector-led economic growth Elumelu’s appointment solidifies his influence in…
Russia’s largest automaker, AvtoVAZ is making a significant move into the Nigerian market as plans for a local assembly plant gain momentum. Russia’s largest automaker, plans to establish a car assembly plant, spare parts hub and service center in Nigeria AvtoVAZ’s entry into the Nigerian market aims to offer affordable, locally assembled vehicles to compete…
The world’s top healthcare systems continue to set benchmarks in efficiency, accessibility, and innovation. Top healthcare systems in 2024 set benchmarks in efficiency, accessibility, and innovation African nations face unique healthcare challenges and can learn from top-performing countries Investing in modern hospitals, healthcare centers, and efficient supply chains is critical for African countries According to…
Similar to its last update, the report by the Organization of the Petroleum Exporting Countries (OPEC), showed that Nigeria produced the most oil in Africa, for the month of February. Business Insider Africa presents the top 5 African countries that produced the most oil for global consumption in February 2025. This list is courtesy of…
Ghana’s total public debt declined by GH¢15.8 billion in December 2024, bringing the total debt stock to GH¢726.7 billion, according to the Bank of Ghana’s March 2025 Summary of Financial and Economic Data. Ghana’s total public debt decreased by GH¢15.8 billion in December 2024 Total debt stock was GH¢726.7 billion, equivalent to 61.8% of GDP…
For many African countries, currency value decline is a recurring problem that reflects underlying economic weaknesses including excessive reliance on imports, high inflation, unstable political environments, and unmanageable debt levels. Business Insider Africa presents the top 10 African countries with the weakest currencies in March 2025. This list is courtesy of the Forbes currency calculator.…
