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Nigerian fintech Moniepoint has launched MonieWorld, a UK-to-Nigeria remittance service, as its entry point into broader financial services for Nigerians in the diaspora. The move taps into the $21 billion in remittances Nigeria received in 2024, and the $100 billion flowing annually to Africa. Moniepoint joins a growing field of African-led remittance startups like Flutterwave […]

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Africa’s tourism sector is booming, with over 50 million international visitors across nine major destinations. Egypt led the surge, attracting 14.91 million tourists in 2023. Cairo International Airport emerged as Africa’s busiest, handling 26.2 million passengers—a 31% increase from 2022 and 8.6 million more than South Africa’s O.R. Tambo Airport. The airport’s four terminals support […]

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Volkswagen’s Kariega plant in South Africa has become the exclusive global production hub for the VW Polo, following the cessation of hatchback production in Pamplona, Spain, in 2024. This Eastern Cape facility now manufactures all Polo variants, including the GTI, for both right- and left-hand-drive markets. In addition to the Polo, the plant produces the […]

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The Red Sea is becoming a geopolitical hotspot, with global powers scrambling for influence amid growing instability in the Horn of Africa. Djibouti, strategically located by the Bab al-Mandab strait, hosts the only permanent American and Chinese military bases in Africa, alongside those of France, Japan, and Italy. Despite regional chaos—from Sudan’s civil war to […]

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Nigeria is positioning itself as a leader in Africa’s Web3 movement, with over 80 startups raising $130 million to date—$20 million in 2024 alone. Financial services led funding this year with $7 million, while entertainment and gaming saw sharp declines. Despite regulatory inconsistencies, recent reforms—including SEC’s ARIP program and lifted banking restrictions—signal progress. However, a […]

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The International Monetary Fund (IMF) has delayed its decision on whether Senegal must repay funds from a frozen $1.8 billion programme, pushing back hopes for a new bailout. Talks on a fresh deal are now expected to begin in June or July, rather than April as anticipated. The delay follows revelations by Senegal’s new government […]

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Between April 2023 and November 2024, Sudan’s conflict severely disrupted daily life and economic activity, with at least 236 market-related incidents, including 64 aerial or drone attacks—mostly attributed to the Sudan Armed Forces (SAF) in Khartoum. Artillery and shelling further damaged markets, with blame shared between SAF and the Rapid Support Forces (RSF). Livestock was […]

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South Africa’s cabinet has approved its first Renewable Energy Masterplan, aiming to build local manufacturing industries for solar panels, wind turbines, and batteries. The strategy supports adding 3–5 gigawatts of renewable energy annually through 2030, attracting $784 million in investment and creating 25,000 jobs. It emphasizes inclusive growth, supporting Black-owned businesses and transitioning coal-dependent communities. […]

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Nigeria and South Africa have signed a Memorandum of Understanding (MoU) to enhance mining cooperation, focusing on investment, knowledge exchange, and technology transfer. Signed in Abuja, the agreement aims to strengthen ties under the Nigeria-South Africa Bi-National Commission framework. The partnership will cover areas such as capacity building in geological methods, mineral exploration, and processing […]

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Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), has urged African nations to stop exporting raw materials and instead focus on producing value-added goods. According to him, Africa’s dependency on raw material exports will only entrench its poverty and underdevelopment, while pivoting to value addition will improve its fortunes. Despite the continent’s vast […]

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