Sending money home remains a costly affair for many Africans living abroad, with some countries on the continent recording some of the highest remittance fees in the world. African remittance costs are among the highest globally, hindering economic support for families and local economies. The average cost of sending $200 to Africa is 7.9%, well…
Across Africa, countries are making bold moves to invest in energy, transport, and digital infrastructure, the backbone of any thriving economy. Business Insider Africa presents the top 10 African countries with the most progress in infrastructure development. The list is courtesy of Africa Infrastructure Development Index (AIDI), 2024. Across Africa, countries are making bold moves…
Ghana’s inflation rate fell to its lowest level in more than three years in May, driven by a stronger currency and lower import costs. Ghana’s inflation rate fell to 18.4% year-on-year in May, marking the lowest level in over three years. The decline is attributed to a stronger cedi, reduced import costs, favorable external market…
Nigeria’s telecommunications sector has faced its fair share of complications over the last year. From loss projections to tariff hikes, the country’s economic challenges appear to be creating a ripple effect. The Nigerian telecommunications sector has endured economic challenges, prompting tariff increases and impacting data usage. Internet utilization fell from January to April 2025, attributed…
Africa’s tourism sector is staging a strong comeback in 2025, as several countries take bold steps to reposition themselves as premier global travel destinations. Africa’s tourism industry is projected to experience a significant resurgence by 2025. Tourism revenues reached $1.6 trillion in 2024, highlighting the sector’s importance to the African economy. Governments are adopting strategies…
As the world approaches the halfway point of 2025, a few African cities continue to stand out, not just for their skylines or tech hubs, but for something more fundamental: their citizens’ high purchasing power. Business Insider Africa presents the top 5 African cities with the highest purchasing power mid-way into 2025. This list is…
Kenya has emerged as a major transit hub for gold smuggled out of African countries plagued by conflict and weak governance. Kenya serves as a key transit hub for smuggling gold from conflict-affected regions in Africa. Most of Kenya’s gold production stems from undocumented artisanal and small-scale mining activities. In 2023, Kenya officially reported 672…
The World Bank has pledged $1 billion to help the Democratic Republic of Congo prepare as it prepares for the next phase of what could be the world’s biggest hydropower project. The World Bank has pledged a $1 billion fund to advance the Democratic Republic of Congo’s hydropower initiatives. $250 million will support the Inga…
President Bola Ahmed Tinubu has conferred the national honour of Commander of the Order of the Federal Republic (CFR) on American billionaire philanthropist and Microsoft co-founder, Bill Gates, in recognition of his long-standing contributions to global health, education, and poverty reduction. Nigerian President Bola Ahmed Tinubu awarded Bill Gates the national honour of CFR for…
