market

In an extraordinary financial display, the world's second-largest company by market capitalization reported impressive fourth-quarter earnings, a milestone that not only elevated its shares but also landed it among an elite group known as the $4 trillion club. This remarkable achievement is a testament to the sustained growth and resilience of this tech giant. Shares climbed by over 9% after hours, following Microsoft's inspiring earnings report. This surge positioned Microsoft alongside Nvidia as the only other company to…

Angola’s Evolving Debt Dynamics: A Sustainable Financial Future As Angola gears up for the close of the financial year, there’s a palpable sense of cautious optimism within its fiscal corridors. The country’s oil-backed debt to China is projected to decrease to a more manageable range of $7.5 billion to $8.0 billion. This insight comes directly from Dorivaldo Teixeira, the Director of the Debt Management Unit at the Finance Ministry, who stands at the forefront of this fiscal undertaking.…

In 2024, Ghana has emerged as a significant player in the African remittance landscape, reporting inward remittances amounting to an impressive $4.6 billion, which translates to 6.2% of its GDP. This figure is nearly double that of 2023, where remittances were at $2.4 billion. Interestingly, the Bank of Ghana offers even more optimistic numbers, suggesting remittances hit $6.7 billion as opposed to $5.1 billion from previous reports. Some analysts are assessing the national money transfer market, estimating its worth…

Analyzing the Competitive Pricing Strategy of Dangote Refinery The recent moves by the Dangote Refinery to cut fuel prices are not just a reaction to market dynamics; they mirror a calculated strategy reminiscent of past actions. Earlier this year, the refinery's tactics stirred a pricing war with the Nigerian National Petroleum Corporation (NNPC), effectively reshaping the country's fuel landscape. It prompts one to ask: how much influence can a single player have in such a pivotal market? Last week, the Dangote Oil…

Jowhar (AX) — A recent incident of violence has shaken the Qoryooley district, where armed assailants unleashed gunfire on unsuspecting civilians at a local market, resulting in the tragic death of one woman and injuries to two others. Eyewitness accounts paint a harrowing picture of the scene, one that echoes through the community as a stark reminder of the vulnerabilities that haunt everyday life. The victim has been identified as Habiibo Ali Shiiqaley, a beloved market vendor known for her unwavering dedication…

Image source Somalia has reached a remarkable epoch in its economic narrative. On December 13, 2023, the International Monetary Fund (IMF) and the World Bank confirmed that Somalia had reached the Heavily Indebted Poor Countries (HIPC) completion point. This milestone facilitated a dramatic reduction of external debt, from a staggering 64 percent of GDP in 2018 to below 6 percent by the end of 2023—an accomplishment that translates to an impressive $4.5 billion in debt relief. The momentum didn't stop there. In early 2024,…

The Democratic Republic of Congo (DRC), a nation rich in mineral resources, has made the significant decision to extend its temporary suspension on cobalt exports by an additional three months. This announcement, made on Saturday by the DRC’s strategic minerals regulator, underscores the complexities and challenges faced by a country that is a linchpin in the global cobalt market. But what led to this extension? The answer lies in the ongoing oversupply of cobalt, a crucial ingredient in electric vehicle batteries and…

My Journey from Nigeria to the United States: A Narrative of Transformation When the idea of relocating from Nigeria to the United States first crossed my mind, I was acutely aware that this wasn't going to be an easy task—especially with a degree from a Nigerian university firmly in hand. It's an aspiration many share, yet few fully understand the complexities involved. Having studied Education and English at the University of Uyo, I carried a sense of pride for my academic endeavors and my years of…

Somalia's Economic Leap: The Launch of the Mogadishu Stock Exchange MOGADISHU, Somalia – In a historic stride towards economic resurgence, Somalia has celebrated the official inauguration of its very first stock exchange in Mogadishu. This momentous event marks not just a pivotal point in economic development but also opens new avenues for attracting both local and international investments. The launch ceremony was a gathering of esteemed figures, blending government officials, business…

For Botswana, Africa’s largest diamond producer, navigating the current landscape of diamond mining is akin to walking a tightrope. Diamonds are not merely precious stones here; they are the backbone of the nation’s economy, accounting for around 80% of export revenue. However, the shifting market dynamics present serious challenges that jeopardize the stability of this vital sector. In recent years, we have witnessed a noticeable reduction in demand for natural diamonds. This downturn is intensified by a surge of…