Russia’s food shipments to Africa increased significantly in 2024, indicating a strengthening trading tie between both parties. Russian agricultural exports to Africa rose by 19% to over $7 billion in 2024 Egypt was one of the major beneficiaries of the boosted trade, importing 21% more Russian agricultural exports by the end of 2024 Algeria and…
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The U.S. is no stranger to debt. By the end of 2024, America’s total debt had climbed to $36.1 trillion, up from $34.4 trillion in 2023. Business Insider Africa presents the top 10 countries holding the most U.S. debt. The list is sourced from Visual Capitalist. By the end of 2024, America’s total debt had…
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216 Chinese firms recently visited the West African country of Nigeria to look into investment prospects. Of the 216 firms, 74 are interested in investing in the country’s oil sector. 216 Chinese firms visited Nigeria to explore investment prospects. 74 of the Chinese firms are interested in investing in Nigeria’s oil and gas sector. The…
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Nigeria’s car export industry remains underdeveloped, with the country relying heavily on imports to meet its automotive demands. Nigeria relies heavily on car imports to meet automotive demands In 2024, Nigeria saw a decline in passenger car imports due to inflation and naira depreciation Inflation, forex scarcity, and weakened purchasing power led to a surge…
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The United States is in preliminary discussions with the Democratic Republic of Congo (DRC) regarding a potential minerals-for-security agreement. Preliminary discussions between the U.S. and DRC involve a potential minerals-for-security agreement The deal would grant U.S. companies access to DRC’s critical minerals in exchange for military assistance DRC aims to leverage its mineral wealth for…
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The Nigerian National Petroleum Company (NNPC) Limited has confirmed ongoing negotiations for a new naira-for-crude deal with Dangote Petroleum Refinery. NNPC is negotiating a new naira-for-crude deal with Dangote Petroleum Refinery. The initial agreement with Dangote Refinery was a six-month contract set to expire in March 2025. NNPC has supplied over 48 million barrels of…
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