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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…

The Rise of High-Net-Worth Individuals in the U.S.: A Complex Landscape Ahead In a world that often feels uncertain, the financial landscape presents a beacon of resilience. Recent data reveals that the number of high-net-worth individuals (HNWIs) in the United States surged by an impressive 7.6% over the past year. To put that into perspective, this increase translates to approximately 562,000 individuals joining the ranks of wealth. Even more compelling is the fact that their collective wealth escalated by 9.1%,…

It’s an intriguing twist in the world of real estate when a mansion owned by a well-known figure stands empty, shrouded in controversy. The sprawling estate of Sean "Diddy" Combs, nestled in the luxurious Holmby Hills neighborhood of Los Angeles, has been officially on the market since September 2024. Priced at a staggering $61.5 million, it carries not only its opulence but also an unfortunate association with serious allegations surrounding its owner. Spanning 10 bedrooms and 13 bathrooms, this mansion…

As we witness the global smartphone market gradually stabilizing from years of economic upheaval and complex supply chain challenges, the world’s foremost smartphone brands are recalibrating their strategies to stay competitive in this dynamic landscape. Consumer preferences are in a constant state of flux, accelerated by rapid advancements in technology. It’s not just about flashy marketing anymore; it's a narrative grounded in innovation, affordability, global outreach, and adaptability. Have you ever paused…

In a recent announcement, Starlink has rolled out a new pricing structure for its monthly subscriptions in Nigeria, igniting various responses across the country. This follows several unsuccessful attempts to institute a price increase between October 1 and December 28, 2024. The previous efforts had sparked criticism from the Nigerian Communications Commission (NCC), which characterized the proposed hikes as unilateral decisions that clashed with Nigeria's telecommunications pricing regulations. Nonetheless, in…

The Federal Government of Nigeria is gearing up for a significant shift in its domestic bond market strategy. In the second quarter of 2025, the government seeks to raise approximately between N900 billion and N1.2 trillion, marking a notable decline from the N1.8 trillion initially targeted for the first quarter of this year. This adjustment reflects the challenges the Nigerian government faces in navigating a complex fiscal landscape. With the release of the FGN Bond Issuance Calendar for the upcoming quarter,…