One of the most contentious conversations in Nigeria currently concerns the proliferation of Ponzi schemes in the last decade, which was brought to the forefront by the recent CBEX scam. CBEX, a Ponzi scheme, crashed in Nigeria, leaving 300,000 investors with estimated losses of $840 million. The scheme claimed to be the China Beijing Equity…
The White House budget office has put forward a proposal to cut funding for United Nations peacekeeping missions, pointing to what it describes as operational failures in Mali, Lebanon, and the Democratic Republic of Congo. The White House budget office proposes cutting funding for U.N. peacekeeping missions in Mali, Lebanon, and the Democratic Republic of…
Zimbabwe’s ZiG is heading toward failure, not through rapid devaluation, but through growing irrelevance, according to Imara Asset Management, the country’s oldest independent brokerage. Zimbabwe’s local currency, the ZiG, is at risk of failure due to policy missteps and prolonged liquidity crunch. The currency, backed by gold and foreign currency reserves, has failed to gain…
France has announced plans to expel 12 agents working within Algeria’s consular and diplomatic network, and will also recall its ambassador to Algiers for consultations. France plans to expel 12 agents from Algeria’s consular and diplomatic network. Tensions escalated as Algeria expelled 12 French diplomatic staff in response. The relationship between France and Algeria has…
Cape Town International Airport has been named the Best Airport in Africa at the 2025 Skytrax World Airport Awards, reaffirming its status as the continent’s leading aviation hub. Cape Town International Airport named Best Airport in Africa at 2025 Skytrax World Airport Awards. The airport also received awards for Best Airport Staff Service in Africa…
Kenya is turning to private investors to help develop and run two key seaports along the Indian Ocean, in a bid to stay competitive amid growing regional rivalry. Kenya is seeking private investors to develop and operate two seaports in Mombasa and Lamu along the Indian Ocean. The government aims to use public-private partnerships to…
Nigeria has formally gazetted its Preferential Tariff Concessions (PSTCs) under the African Continental Free Trade Area (AfCFTA), becoming the 23rd country to do so. Nigeria formally gazettes its Preferential Tariff Concessions under AfCFTA, becoming the 23rd country to do so Nigeria’s action signals a commitment to implementing the agreement and opens doors for local companies…
A mine warfare fleet consists of naval vessels, specialized equipment, and people devoted to detecting, removing, laying, or combating naval mines. Business Insider Africa presents the top 10 countries most equipped to deal with mine warfare. This list is courtesy of Global Firepower. Russia number 1 on the list. A mine warfare fleet’s principal responsibility…
For African countries with hydrocarbon resources, a high rig count, the number of active drilling rigs operating for oil and gas, can be a potent indicator of development and opportunity. Business Insider Africa presents the top 5 OPEC African countries with the most active drilling rigs. This list is courtesy of the OPEC month oil…
