Importers of Premium Motor Spirits (PMS) otherwise known as Petrol are reportedly thrown off by the Dangote refinery’s decision to reduce the price of its petrol. Dangote Refinery reduces the ex-depot price of petrol by N65, from N890 to N825 per liter. Importers are concerned as they will be forced to adjust their prices due…
The International Air Transport Association’s (IATA) annual safety report has revealed that African airlines had the highest accident rate in 2024. The IATA report highlighted major aviation incidents in 2024 across different regions In 2024, African airlines recorded 10 incidents, making it the region with the second-highest number of plane crashes. The IATA reported one…
Egyptian billionaire Naguib Sawiris has called for a reassessment of his country’s large-scale development projects. Egyptian billionaire Naguib Sawiris suggests Egypt rethink mega-projects to cut costs. Egypt has embarked on extensive infrastructure expansion since Abdel Fattah al-Sisi took office in 2014. One of the prominent projects is a $58 billion new capital city, aimed at…
Owners of Honda vehicles in Ghana are being urged to verify whether their cars are affected by an ongoing airbag recall due to significant safety concerns. Honda vehicle owners in Ghana urged to verify if their cars are affected by airbag recall The recall is part of a global safety initiative targeting specific Honda models…
One important economic metric that emphasizes how affordable products and services are in a community, in this example, African cities, in relation to income levels is purchasing power. Business Insider Africa presents the top 5 African cities with the lowest purchasing power in 2025. This list is courtesy of Numbeo. Lagos ranks number 1 on…
An initiative to provide electricity to communities in Africa has been impacted by recent aid cuts initiated by the Trump administration. The Power Africa project has been impacted by aid cuts initiated by the Trump administration The project, launched by former President Barack Obama, aimed to double access to electricity in sub-Saharan Africa The termination…
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has announced plans to introduce a new foreign exchange law as part of efforts to enhance the country’s banking sector. Governor of the Bank of Ghana plans to introduce a new foreign exchange law The current Foreign Exchange Act 2006 regulates foreign exchange transactions…
Amid uncertainties surrounding Nigeria’s decision to revamp the visa-on-arrival (VoA) policy, the Nigeria’s Minister of Interior, has clarified that the policy has not been scrapped. Nigeria’s Minister of Interior clarifies that the visa-on-arrival policy has not been scrapped Decision to halt the visa-on-arrival policy has raised fears and panic among investors Nigeria plans to discontinue…
Sub-Saharan Africa is still the most expensive region in the world to transfer money to, with an average remittance cost of 8.37% in the second quarter of 2024, according to the World Bank’s most recent remittance report. Sub-Saharan Africa remains the most expensive region for money transfers, with an average cost of 8.37% in Q2…
