Declines

African Currency and Trade Dynamics: A Comprehensive Overview In May 2025, nearly half of the currencies across the African continent experienced depreciation. This trend highlights persistent foreign exchange pressures, underscored by a range of ongoing reforms and stable economic growth. Insights gleaned from the African Export-Import Bank’s Monthly Developments in the African Macroeconomic Environment report, published in June 2025, illuminate this complex landscape. The bank's…

In an astonishing turn of events, Nigeria's public debt has surged, now reaching an unprecedented ₦27.72 trillion, marking an eye-watering 22.8% increase compared to the ₦121.67 trillion recorded during the same timeframe last year. This staggering growth invites immediate scrutiny: What are the driving forces behind this rapid expansion? According to the most recent figures from the Debt Management Office (DMO), the nation’s total debt has climbed by ₦4.72 trillion, or 3.3%, rising from ₦144.67 trillion at the…

Tragic Violence in Minnesota: A Reflection on Leadership President Donald Trump has stated that he did not intend to reach out to Minnesota Governor Tim Walz, the Democratic nominee for vice president in 2024, following a weekend shooting that claimed the life of a Democratic politician and injured another. In light of the tragedy, Mr. Trump, a Republican, expressed his outrage over what he termed "horrific violence" that should not be tolerated in the United States. However, he has opted against extending any supportive…

Intensifying Brand Competition in Africa In the ever-changing landscape of mobile telecommunications, TRANSSION has maintained its dominance in Africa, boasting a 47% market share. However, it’s worth noting that this figure has dipped by 5% compared to the previous year. As veteran vendors steady their ships, new competitors are rising to the occasion, armed with innovations and savvy marketing strategies. Samsung captured 21% of the market, primarily thanks to its popular A-series phones, which continue to resonate…

Ghana's oil production in 2024 has seen a heartening yet frustratingly narrow miss as the nation recorded a shortfall of just 0.01%, equating to merely 7,000 barrels, compared to its output in 2023. By the end of 2024, the total crude oil output reached an impressive 48,240,010 barrels, but just shy of the 48,247,037 barrels produced in the previous year. This slight decline raises a myriad of questions: What factors are contributing to this near miss? Is it a reflection of broader global trends or domestic challenges?…

Insights from IMD's Smart Cities Index 2025 As we navigate the complexities of urban life, IMD's Smart Cities Index 2025 sheds light on the progress of cities worldwide, including those across the African continent. This year’s findings are a tapestry woven with remarkable strides and lingering obstacles. The landscape of African cities presents a curious paradox—a blend of innovation and stagnation. A Glimpse of Progress and Challenges At the forefront, Cairo shines as the…

BOSASO, Somalia — Northeastern State's Bold Decision to Boycott the NCC Summit Northeastern State President Said Abdullahi Deni took a decisive stance last Friday, announcing the region's boycott of the upcoming National Consultative Council (NCC) summit set for May 1-2 in Mogadishu. The reason? Alleged constitutional breaches that have rattled the bedrock of trust. The Catalyst for Contention The call for the summit, issued by Somali President…

President Nayib Bukele of El Salvador recently clarified his stance at the White House regarding the return of Kilmar Abrego Garcia, a man wrongly deported from the United States. Bukele expressed that sending Mr. Abrego Garcia back would be akin to "smuggling a terrorist into the country." This statement came during a discussion in the Oval Office, where officials from the Trump administration noted they did not have an obligation to facilitate the return of the Maryland resident, despite a Supreme Court ruling mandating…

An Emerging Hope for Governance: The National ID System in Somalia Imagine a world where accessing government services is as smooth as a gentle breeze, where identity verification is but a scan away. In Somalia, this vision is rapidly becoming a reality under the determined guidance of Prime Minister Hamza Abdi Barre. "A platform for development—politically, economically, and in terms of governance," Barre calls it, recognizing the national ID system as the cornerstone for modernizing governance, bolstering…

Wall Street's major indexes began the day on a positive note after a challenging selloff, which has resulted in the loss of trillions of dollars since last week. Investors are now closely monitoring any signs that the US may be open to negotiations regarding some of the aggressive tariffs. The Dow Jones Industrial Average surged 2.3% in the morning session, while the S&P 500 and the Nasdaq Composite index saw increases of 2.6% and a remarkable 3.7%, respectively. In Europe, markets continued their recovery from the…