While some African countries have successfully stabilized their currencies and built resilience, others continue to struggle under the weight of a discounted currency. Business Insider Africa presents the top 10 African countries with the weakest currencies in May 2025. This list is courtesy of the Forbes currency calculator. São Tomé & Príncipe ranks number 1…
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The African Development Bank (AfDB) plans to establish a new carbon markets support facility aimed at unlocking climate finance across the continent, senior officials announced at the bank’s annual meeting in Abidjan. The African Development Bank has announced plans to create the Africa Carbon Support Facility to enhance climate finance across Africa. The initiative will…
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One in six Ghanaians who interacted with public officials in 2024 admitted to paying a bribe to access public services, the Ghana Statistical Service (GSS) has disclosed. 18.4% of Ghanaians who interacted with public officials in 2024 reported paying bribes, with cash being the most common form. The survey, which involved 7,248 participants nationwide, identified…
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Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank (AfDB) Group during the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire. Sidi Ould Tah of Mauritania has been elected as the new President of the African Development Bank (AfDB). Tah will assume office on September 1, 2025, succeeding…
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French energy giant TotalEnergies announced on Thursday that it will sell its 12.5% non-operating stake in Nigeria’s Bonga oil field to a subsidiary of Shell for $510 million. TotalEnergies has agreed to sell its 12.5% stake in Nigeria’s Bonga oil field to a Shell subsidiary for $510 million. This transaction will increase Shell’s ownership in…
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It’s no secret that Nigeria ranks among the top recipients of remittances globally. Every year, millions of Nigerians living abroad send billions of dollars home to help support their families, invest in businesses, and contribute to the country’s socioeconomic progress. Remittances from Nigerians abroad play a significant role in the country’s economy, reaching $20.93 billion…
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