Newsroom 1228 posts 0 comments

An Exploration of African Currency Depreciation in 2024 Currency is a subtle force that silently shapes the fortunes of nations. In 2024, numerous African nations, such as Nigeria and Ghana, faced significant currency depreciation, casting shadows over their economies. But why should one care about numbers on a currency exchange board? Let's delve into this complex issue, examining its ripples across economies, both near and far. "Where has the purchasing power gone?" many Nigerians…

Rwanda and US Aid: A Unique Perspective on Development The journey of development is rarely straightforward, and for Rwanda, foreign aid has often been the compass guiding some of its most critical sectors. From health to agriculture, from education to administration, the funds have weaved a tapestry of progress that reflects a nation’s resilience and vision. Let’s travel back a year. Think of Rwanda like a tree, deeply rooted yet aspiring for the canopy. The country had received an impressive $178 million in…

A Glimpse into the Future: MTN Group and Lynk Global Connect Africa through the Sky In a first for Africa, MTN Group’s South African branch and the innovative U.S.-based low-Earth orbit (LEO) satellite provider, Lynk Global, have accomplished something truly remarkable. The two companies made history on a typical Thursday, the 27th of March, 2025, by successfully initiating a phone call via satellite. Can you imagine the possibilities that arise from such a technological leap? This achievement not only…

A Sombre Tale from Hurghada Imagine a serene morning in Hurghada, a beacon for tourists nestled by Egypt's spectacular Red Sea shores. Here, an adventure on the inviting waters turned tragically wrong. The loss was profound, as at least six lives were claimed when the "Sindbad" viewing submarine, crafted to offer tourists an underwater spectacle, succumbed to the ocean's might. Hurghada, situated roughly 250 miles southeast of Cairo, stands as a jewel along the Red Sea, drawing visitors…

In a notable gathering that promised to shape the future of global tourism, Mister Nkhumeleni Victor Vele, the Director General of the South African Department of Tourism, recently presided over the inaugural meeting of the Tourism Working Group. This assembly brought together senior officials and experts from the G20 nations, all driven by a common ambition: to propel the tourism sector into a new era of resilience and innovation. The atmosphere buzzed with anticipation, underscoring the profound impact that tourism can…

In an ambitious move towards energy independence, Nigeria has taken strides to diminish its reliance on imported petroleum products. Imagine for a moment a nation buoyed by its own resources, no longer tethered to volatile international markets. The heartbeat of this vision is the successful operation of its refineries, particularly a prominent one in Port Harcourt. The uninterrupted functioning of this facility, extending over 180 days, is a beacon of hope for Nigeria’s energy security.…

Within the vast and vibrant continent of Africa, there's an undeniable undercurrent of financial tumult. The tale of debt, increasingly intertwined with the destiny of nations, has emerged as a prevailing narrative. The affected regions, a list that unfortunately continues to grow, include Zambia, Ghana, Ethiopia, and Chad. These countries currently grapple with escalating debt obligations, raising red flags over potential defaults and economic dislocations. In this moment of uncertainty, one might ask: What…

On January 20, 2025, just moments after stepping into office for his second term, Donald Trump made a consequential move that reverberated across continents. By halting USAID funding, a major lifeline for numerous African countries, Trump set off a storm of questions about the future of U.S. support for the region. Imagine for a moment the far-reaching impact of abruptly cutting off such a crucial funding source. Programs that focus on healthcare, agriculture, and education have long depended on this aid to…

In an era where economic fluctuations are as unpredictable as the weather, Zambia has showcased an intriguing tale of resilience and growth. Last year, the nation demonstrated a remarkable economic performance that shattered prior expectations, leaving both skeptics and optimists equally mesmerized. What drove this unexpected trajectory, and how might it shape Zambia’s future? According to preliminary data revealed by Sheila Mudenda, the acting statistician-general, Zambia's Gross Domestic…

Anticipating Transformation: NNPC Ltd's Journey to the Capital Market The Nigerian National Petroleum Company Limited (NNPC Ltd) is poised at a significant juncture. As they prepare for a transformative shift, they are in the final stages of getting listed on the capital market. This comes in response to the requirements set out by the Petroleum Industry Act (PIA) of 2021. But what does this mean for Nigeria and its energy sector?…