The International Monetary Fund (IMF) has expressed support for Zimbabwe’s ZiG currency, stating it would like to see it “fully become a national currency” as part of considerations for placing the country under a staff-monitored program. The International Monetary Fund (IMF) supports Zimbabwe’s ZiG currency initiative for potential full adoption as a national currency. ZiG,…
The cost of living has progressively risen in many African countries, with some seeing alarming increases in food, transportation, utilities, healthcare, and education. Business Insider Africa presents the top 10 African countries with the highest cost of living in mid-2025. This list is courtesy of Numbeo. Ethiopia ranks number 1 on the list. While inflation…
Due to a surge in impersonation schemes in which people falsely pretend to be representatives of the corporation, the Nigerian National Petroleum Corporation Limited (NNPC Ltd) has warned foreign investors. The Nigerian National Petroleum Corporation Limited (NNPC Ltd) has warned international investors about impersonation schemes. The corporation affirmed that such fraudulent activities are unauthorized and…
Aliko Dangote, President of the Dangote Group and founder of the multi-billion-dollar Dangote Petroleum Refinery, has revealed that a significant transformation is imminent in Nigeria’s oil and gas landscape. Aliko Dangote announced imminent changes in Nigeria’s oil and gas sector during President Bola Tinubu’s refinery visit. The $20 billion Dangote Petroleum Refinery in Lagos aims…
Zambia has engaged in discussions with automakers to attract electric vehicle (EV) component manufacturers to set up plants close to its copper mining sites. Zambia aims to attract EV component manufacturers near its copper mines. Copper is crucial for EV engines, boosting Zambia’s role in the supply chain. Finance Minister Musokotwane encourages investments during international…
Russia says it will deepen ties with African countries, including in sensitive areas like defence and security. Russia intends to strengthen relations with African countries, focusing on defense, security, and economic collaboration. The Wagner Group has withdrawn from Mali, but the Kremlin-backed Africa Corps will continue operations in the West African country. The development aligns…
The World Bank has approved a $1.5 billion loan to support South Africa’s structural reforms, focusing on improving infrastructure and reviving economic growth. The World Bank approved a $1.5 billion loan to support South Africa’s structural reforms, focusing on infrastructure and economic growth. The funding addresses challenges including sluggish economic growth and high unemployment by…
The Nigerian government, through the Federal Capital Territory Administration (FCTA), has issued a stern warning to 34 foreign embassies in Abuja, threatening possible closure over their failure to settle ground rent arrears dating back 11 years. The Nigerian government has threatened to close 34 foreign embassies in Abuja over 11 years of unpaid ground rent.…
In the wake of the CBEX scandal that swindled trillions of naira from unsuspecting Nigerians, concerns are mounting that another Ponzi scheme may be unfolding, this time under the guise of a meme coin known as Punisher Coin ($PUN). The SEC has issued a formal warning against investing in an unregulated cryptocurrency named Punisher Coin…
