Citigroup Inc. has warned that Botswana may be forced to devalue its currency again as the country grapples with falling diamond revenues, the backbone of its economy. Botswana is experiencing economic challenges due to declining diamond revenues, a key income source. The country’s central bank has allowed its currency, the pula, to depreciate further to…
Nigeria’s GDP at current prices reached 372.8 trillion naira ($243 billion) in 2024, up from 314 trillion naira in 2023. Nigeria’s GDP was revised, incorporating informal sectors, resulting in improved statistical representation. The country experienced 3.13% GDP growth year-on-year in Q1 2025, up from 2.27% the previous year. Using the 2019 base year, Nigeria’s GDP…
Zambia has signed a landmark agreement to develop a $1.1 billion crude oil refinery and energy complex in Ndola, located in the country’s copperbelt region. Zambia signed a $1.1 billion agreement to develop a crude oil refinery and energy complex in Ndola. The facility will process up to 60,000 barrels per day, meeting domestic fuel…
Countries with substantial foreign exchange and gold reserves are better positioned to preserve stability and safeguard their national interests at a period of rising economic instability, geopolitical tensions, and volatile commodities markets. Business Insider Africa presents the top 10 countries with the highest reserves of foreign exchange and gold 2025. This list is courtesy of…
The African Development Bank (AfDB) has approved a €100 million ($116.4 million) loan to support sustainable agriculture initiatives in Morocco. The African Development Bank approved a €100 million loan to support sustainable agriculture in Morocco. The initiative focuses on empowering women and young people while enhancing food security and resilience. AfDB and Morocco maintain a…
The United States has continued to emphasize its focus on internal security and the protection of its citizens by issuing travel advisory to Americans planning to visit several countries—many of them in Africa. The United States has issued travel advisories for certain countries focusing on citizens’ safety. As of July 2025, 12 African nations have…
Mozambique is preparing for a significant economic transformation as two key energy projects gets the necessary push. On one hand, TotalEnergies is back on its $20 billion LNG project in the country, and on the other, the World Bank has agreed to support a $5 billion dam project. Mozambique is advancing two major energy projects:…
Some indigenous plants in Kenya, which were once thought useless and flagged as mere weeds have now become very relevant food sources across the entire country. Indigenous plants in Kenya, once considered weeds, are now popular food sources offering health benefits. Known as kienyeji, these crops are sought after and have become profitable for restaurants.…
The long-standing tensions between Ethiopia and Egypt over the Grand Ethiopian Renaissance Dam (GERD) escalated recently following remarks by U.S. President Donald Trump that many Ethiopians have condemned as inflammatory and one-sided. Tensions between Ethiopia and Egypt regarding the Grand Ethiopian Renaissance Dam (GERD) have intensified recently. Remarks by former U.S. President Trump favoring Egypt’s…
