Seplat Energy plans to invest up to $320 million this year in drilling new wells and upgrading infrastructure as part of its strategy to boost oil production. Seplat Energy plans to invest up to $320 million in drilling new wells and infrastructure upgrades. After acquiring Exxon Mobil’s Nigerian assets, the company aims to double its…
Loans are a double-edged sword; when managed properly, they may fuel growth in any given economy, but when excessive, they can ruin a country’s finances. In Africa, where there are economic disparities across nations, the debt load is not uniformly spread. Business Insider Africa presents the top 10 African countries with the highest percentage of…
Ghanaian lawmakers have reintroduced a bill that, if passed, would become one of Africa’s most restrictive pieces of anti-LGBTQ+ legislation. Ghanaian lawmakers reintroduce bill for one of Africa’s most restrictive anti-LGBTQ+ legislation Proposed bill increases maximum penalty for same-sex acts to five years and introduces jail terms for individuals promoting LGBTQ+ activities Reintroduced bill faces…
Africa is home to vast agricultural lands, with large portions of the continent suitable for farming. Some regions have expansive fertile areas ideal for growing crops, while others have extensive grasslands that support livestock. Business Insider Africa presents the top 10 African countries with the largest agricultural land area. The list is courtesy of Statista.…
Dangote Refinery has made its first purchase of Algeria’s light sweet Saharan Blend crude, according to market sources cited by Argus Media, a leading global energy intelligence provider. Dangote Refinery purchased its first cargo of Algeria’s Saharan Blend crude. The 650,000 barrels per day refinery acquired a 1 million-barrel cargo from Glencore. The refinery has…
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of petrol to N860 per litre, down from N920. NNPCL has reduced the pump price of petrol to N860 per litre from N920. Dangote Petroleum Refinery also lowered its ex-depot price from N890 to N825 per litre. This move has…
Customs duties plays a significant role in tax revenue generation across African nations. Customs duties are a significant source of tax revenue for African nations, with some countries relying on them for over 40% of total tax revenue. In extreme cases like São Tomé and Príncipe, customs duties contributed 100% of tax revenue. 15 African…
One important economic indicator that monitors shifts in the price of goods and services over time is the Consumer Price Index (CPI). Because so many people in many African countries live on low incomes, they are disproportionately impacted by increases in the CPI. Business Insider Africa presents the top 10 African countries where clothing is…
Housing markets around the world vary significantly, with some countries having a higher proportion of renters than homeowners. Factors contributing to rental trends include economic conditions, housing affordability, government policies, and cultural preferences High property prices, limited mortgage access, and urban migration have led to a growing demand for rental properties in Africa African countries…
