For many African countries, currency value decline is a recurring problem that reflects underlying economic weaknesses including excessive reliance on imports, high inflation, unstable political environments, and unmanageable debt levels. Business Insider Africa presents the top 10 African countries with the weakest currencies in March 2025. This list is courtesy of the Forbes currency calculator.…
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According to data from U.S. Foreign Assistance, in 2024, Rwanda received around $162 million in total U.S. funding, the 23rd highest funds received by an African country. In 2024, Rwanda received $162 million in total US funding, ranking 23rd highest in Africa. The funds were used for health, administrative duties, education, and agriculture. US disbursements…
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MTN Group’s South African unit and U.S.-based low-Earth orbit (LEO) satellite provider Lynk Global announced that they have successfully made Africa’s first phone call via satellite. MTN Group’s South African unit and Lynk Global successfully made Africa’s first phone call via satellite. The breakthrough could help extend mobile coverage to underserved and rural areas. Satellite…
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At least six people lost their lives when the “Sindbad” viewing submarine, carrying tourists, sank off the coast of Hurghada, a resort on Egypt’s Red Sea. The “Sindbad” viewing submarine sank off the coast of Hurghada, Egypt, resulting in at least six fatalities. The submarine had 50 people onboard, including tourists from Russia, India, Norway,…
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The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced it is in the final stages of securing a listing on the capital market. NNPC Ltd is in the final stages of securing a listing on the capital market. NNPC Ltd is engaging with potential partners through the ‘NNPC Ltd. IPO Beauty Parade’ initiative. The…
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Zambia’s economy outperformed expectations last year, surpassing growth forecasts from both the government and the International Monetary Fund (IMF), driven by a sharp rise in fourth-quarter output. Zambia’s economy grew by 4% in 2023, exceeding expectations. The GDP expansion was driven by a sharp rise in fourth-quarter output, with an impressive 8.6% growth in the…
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