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Africa’s five most militarised economies spent more than $33 billion on defence in 2025, highlighting how a small group of countries continues to dominate the continent’s military expenditure amid persistent security pressures. Africa’s five most militarised economies spent over $33 billion on defence in 2025, dominating the continent’s military expenditure. These countries’ military spending is…
Fifteen years after NATO’s intervention plunged Libya into prolonged instability, North Africa is witnessing a new military build-up led by Algeria and Morocco, which spent a combined $31.7 billion on defence in 2025 as they expanded rival fighter-jet programmes backed by Russia and the United States. Algeria and Morocco significantly increased their military spending in…
Sub-Saharan Africa has the largest informal workforce in the world, with nearly 88% of workers operating outside the formal economy, a trend that is weakening government finances, limiting economic growth, and making it harder for countries to improve their creditworthiness, according to Moody’s Ratings. Nearly nine out of every 10 workers in Sub-Saharan Africa are…
Millions of Nigerians are working, but many remain trapped in low-paying informal jobs that earn only a fraction of what formal employees take home, according to a new report by Moody’s Ratings. Nigerian informal workers earn nine times less than workers in the formal sector, according to Moody’s Ratings. The report exposes a major wage…
South Africa is mounting a formal challenge to a new U.S. tariff proposal that could further strain trade ties between Africa’s most industrialized economy and one of its most important export markets. South Africa is formally challenging a new U.S. tariff proposal to protect its key export sectors from further strain. The U.S. recently imposed…
South Africa has agreed to reopen its market to Kenyan tea, coffee and spices, marking the end of a trade dispute that had strained economic relations between two of Africa’s largest economies. South Africa has agreed to reopen its market to Kenyan tea, coffee, and spices, ending a significant trade dispute. The dispute resulted from…
For decades, Africa’s vast informal economy has been one of the continent’s most persistent development challenges, limiting tax collection, weakening productivity, and keeping millions of workers and businesses outside the formal financial system. Rwanda, Benin, Tanzania, and Côte d’Ivoire are among Africa’s strongest performers in reducing informality, according to Moody’s. The ratings agency says countries…
South African billionaire Johann Rupert built his fortune selling luxury goods to some of the world’s wealthiest consumers. Johann Rupert’s Reinet Investments bought a €22 million stake in the world’s largest gold ETF in 2015. The position is now worth about €80 million after gold’s historic rally. Gold prices have climbed from around $1,100 per…
According to billionaire investor Naguib Sawiris, Egypt’s vast mineral wealth is being squandered due to illicit mining operations, which are weakening investment and preventing the country from fully benefiting from its tremendous natural resources. Naguib Sawiris, Egypt’s richest man, criticized the widespread illegal mining in Egypt, claiming it squanders the nation’s mineral wealth. He attributed…
