One in six Ghanaians who interacted with public officials in 2024 admitted to paying a bribe to access public services, the Ghana Statistical Service (GSS) has disclosed. 18.4% of Ghanaians who interacted with public officials in 2024 reported paying bribes, with cash being the most common form. The survey, which involved 7,248 participants nationwide, identified…
Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank (AfDB) Group during the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire. Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank (AfDB). Tah will assume office on September 1, 2025, succeeding…
French energy giant TotalEnergies announced on Thursday that it will sell its 12.5% non-operating stake in Nigeria’s Bonga oil field to a subsidiary of Shell for $510 million. TotalEnergies has agreed to sell its 12.5% stake in Nigeria’s Bonga oil field to a Shell subsidiary for $510 million. This transaction will increase Shell’s ownership in…
It’s no secret that Nigeria ranks among the top recipients of remittances globally. Every year, millions of Nigerians living abroad send billions of dollars home to help support their families, invest in businesses, and contribute to the country’s socioeconomic progress. Remittances from Nigerians abroad play a significant role in the country’s economy, reaching $20.93 billion…
South Africa has surpassed Nigeria to become Africa’s largest importer of petrol, signaling a major shift in the continent’s energy trade dynamics. South Africa has overtaken Nigeria as Africa’s largest petrol importer, reflecting key energy market changes. Nigeria has reduced its petrol imports due to expansions in domestic refining capacity including the Dangote Refinery. South…
Nearly half of Africa’s currencies are expected to weaken against the U.S. dollar in 2025, driven by geopolitical tensions and internal economic pressures. Nearly half of African currencies are anticipated to weaken against the U.S. dollar by 2025 due to geopolitical tensions and internal economic challenges. The African Development Bank (AfDB) forecasts currency depreciation in…
