By integrating numerous levels of these security features, central banks make counterfeiting very difficult and expensive, lowering the likelihood of phony currencies circulation. Business Insider Africa presents the list of the hardest currencies to counterfeit in the world. This list is courtesy of BestBrokers. 100 Swiss Francs ranks number 1 on the list. The war…
A central bank’s Assets Under Management (AUM) are a key indicator of a country’s financial health and its economic strength. Assets Under Management (AUM) are a key indicator of a central bank’s financial health and economic strength AUM is used to stabilize currencies, manage inflation, and intervene in financial markets during economic crisis or instability…
The United States has been a key supporter of agricultural development in Africa, mainly through USAID. In 2024, Niger received the most U.S. agricultural aid, with $65.94 million, followed by Ethiopia at $63.14 million. Business Insider Africa presents the top 10 African countries that received the most U.S. foreign aid for agriculture in 2024. The…
Russia has finalized plans to establish its first naval base in Africa, solidifying its position alongside global powers like the United States and China. Russia has finalized plans to establish its first naval base in Africa The base is intended to serve as a logistics hub for Russian warships, including nuclear-powered vessels The Red Sea’s…
Like many other countries, Nigeria revels in the celebration of love commemorated on Valentine’s Day. Nigeria celebrates Valentine’s Day with gifts ranging from expensive jewelry to affordable items like flowers and chocolates. High inflation in Nigeria is making it difficult for people to afford presents for Valentine’s Day. Popular Valentine’s Day activities in Nigeria include…
As 2025 enters its second month, rising fuel prices are already weighing hard on some African countries, putting further financial burdens on governments, enterprises, and consumers. Business Insider Africa presents the top 10 African countries with the highest fuel prices in February 2025. This list is courtesy of GlobalPeterolPrices. The Central Africa Republic ranks number…
Nigeria has allocated $200 million in its 2025 budget to address shortfalls resulting from the United States’ suspension of aid, according to a Senate document reviewed by Reuters on Thursday. Nigeria allocates $200 million in 2025 budget to address aid suspension from the United States. Ghana is also scrambling to bridge $156 million funding gap…
Africa’s richest man, Aliko Dangote continues to advocate for Nigeria’s self-sufficiency as he extends his campaign to eliminate oil imports to the sugar business. Aliko Dangote aims to end sugar importation in Nigeria and has allocated $700 million to the cause. The company plans to explore opportunities in the manufacturing sector to replace imports, create…
In the third quarter of 2024, Nigeria spent more money importing goods, similar to how it did exporting products compared to the previous quarter. Business Insider Africa presents the top 5 countries Nigeria spent the most money on in Q3 2024. This list is courtesy of a report by the National Bureau of Statistics. China…
