While many African countries struggle with high debt burdens to the International Monetary Fund (IMF), some countries have distinguished themselves by managing their debt loads effectively. Business Insider Africa presents the top 10 African countries with the lowest debt to the IMF in March 2025. This list is courtesy of data from the International Monetary…
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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…
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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…
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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…
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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…
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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…
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