Africa’s largest refinery, the $20 billion Dangote Petroleum Refinery, is sourcing crude oil from international suppliers to supplement its domestic deliveries as it continues to scale up operations. Dangote Petroleum Refinery, Africa’s largest refinery, is importing crude oil from international suppliers to supplement domestic deliveries. The refinery has received over three million barrels of crude…
Ghana’s Finance Minister, Dr Cassiel Ato Forson, has announced the government’s decision to abolish several so-called “nuisance” taxes in the coming days. Ghana’s Finance Minister, Dr Cassiel Ato Forson, announced the abolition of several ‘nuisance’ taxes Six contentious taxes will be scrapped, in line with NDC’s 2024 manifesto promise The abolished taxes include the Betting…
Johannesburg, also known as “Jozi” or “Joburg,” boasts 12,300 millionaires, 25 cent millionaires (with a net worth of at least $100 million), and 2 billionaires. Johannesburg is Africa’s wealthiest city with 12,300 millionaires, 25 cent millionaires, and 2 billionaires. Originally founded in 1886 during the Gold Rush, it has evolved into a diversified economy with…
The Ghanaian government has introduced incentives for businesses willing to adopt the 24-hour economy initiative. Ghanaian government introduces incentives for businesses adopting 24-hour economy initiative 24-hour economy strategy aims to create sustainable jobs, enhance productivity, and improve competitiveness Incentives for local and foreign investors include tax benefits, financial support, and security improvements Acting Chief Executive…
In Africa, Seychelles holds the title as the continent’s least stressed country, ranking 57th globally with a stress score of 71.48. Business Insider Africa presents the top 10 least stressed countries in Africa in 2025. The list is courtesy of CEOWORLD magazine. In Africa, Seychelles holds the title as the continent’s least stressed country, ranking…
Russia’s food shipments to Africa increased significantly in 2024, indicating a strengthening trading tie between both parties. Russian agricultural exports to Africa rose by 19% to over $7 billion in 2024 Egypt was one of the major beneficiaries of the boosted trade, importing 21% more Russian agricultural exports by the end of 2024 Algeria and…
The U.S. is no stranger to debt. By the end of 2024, America’s total debt had climbed to $36.1 trillion, up from $34.4 trillion in 2023. Business Insider Africa presents the top 10 countries holding the most U.S. debt. The list is sourced from Visual Capitalist. By the end of 2024, America’s total debt had…
216 Chinese firms recently visited the West African country of Nigeria to look into investment prospects. Of the 216 firms, 74 are interested in investing in the country’s oil sector. 216 Chinese firms visited Nigeria to explore investment prospects. 74 of the Chinese firms are interested in investing in Nigeria’s oil and gas sector. The…
Nigeria’s car export industry remains underdeveloped, with the country relying heavily on imports to meet its automotive demands. Nigeria relies heavily on car imports to meet automotive demands In 2024, Nigeria saw a decline in passenger car imports due to inflation and naira depreciation Inflation, forex scarcity, and weakened purchasing power led to a surge…
