Currencies, capital markets, and the prices that move African economies.
China is the world's single largest creditor, and Africa is the largest economy in partnership with China. It has often been accused of debt-trap diplomacy in Africa because of the scale of China's lending to African countries and the secretive nature of its loan contracts. The
Nigeria is increasingly innovating its financial service sector in the country. Over the years, it has been quite difficult for Nigerians to process some financial transactions across the country. In the plight of implementing positive changes, Nigeria's telecom companies are getting banking licences to support the development of
The selling and trading in human organs has exponentially risen to become a source of wealth in many African jurisdictions. Of note recently, the story of a Ugandan young man who sold his kidney to India for cash has been widely debated in various public domains and social media. While
African economies are highly dependent on fossil fuels, which account for more than 80% of the continent’s energy mix. This dependence leaves African economies vulnerable to fluctuations in global oil and gas markets, and it also contributes to the continent’s high greenhouse gas emissions. We’ll talk about
Inflation has long been regarded as one of the world's greatest enemies to wealth creation because it erodes the value of money. In Africa, inflation is so persistent, though many of those who are affected are unaware of it. They do, however, feel the impact in the form
2021 has been promising in terms of the price action of Bitcoin. The year has witnessed a massive surge in the price of Bitcoin since its start. Bitcoins remain the most dominant cryptocurrency in the market. While shifting towards the end of 2021, many fascinating factors make Bitcoin unique. An
In Africa news headlines, keywords that follow digital are catalysts or impetus. Many observers point out that digitization has served as an essential trigger for the digital revolution in Africa. According to the Statista website, in 2019, 73 percent of private businesses surveyed in sub-Saharan Africa responded positively to the
Africa may not be one of the wealthiest continents in the world because of how much disenfranchisement and colonialism the continent has faced. However, many post-independence countries have worked hard to restore and create valuable economies that can stand alongside some of the strongest and oldest currencies globally. Below is
Decentralized finance is changing the way banking is operating all around the world including in Africa already, it's allowing 24/7 payments without the worry of bank holiday closures or hidden fees, lowered fees and no monthly fee that is typically required by banks. In this article we
Economic migrants seeking better employment opportunities in the region have traditionally been drawn to South Africa. People from neighboring nations, as well as the rest of Africa and South Asia, flock to the country. On the other hand, South Africa frequently makes the news for violent attacks against immigrants. Xenophobia
Africa remains the poorest region in the world. The reasons for poverty in Africa cannot be narrowed down to a single cause. Some factors bedeviling Africa require good governance and effective policy making on the part of Africa. However, some causes of poverty in Africa require global cooperation to solve.
The remnants of colonial domination have bitterly lingered in Africa with profound intensity. The failure to wrest economic control over the continent’s resources from former colonial powers is the reason why there is widespread poverty in Africa. Western perceptions continuously rule out the possibility of organic progress in Africa.
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In 2019, Bitcoin introduced the world to a new form of legal tender in crypto – a digital form of currency that is acceptable for the payment of goods and services through an online ledger based on a cryptography that secures the online transactions. After its introduction, many critics – especially those
Recent reports by blockchain research company Chainalysis have indicated that the African continent is leading in crypto adoption. In particular, Africans are trading mostly on peer-to-peer platforms like Localbitcoins and Paxful. But like is the case with the rest of the world, mainstream African businesses have not warmed up to
Debt is the chief reason why Africa is at pains developing herself. Debt curtails the African States from taking up development initiatives that can sustain their economies. The international money lenders have deliberately tied the African States to arduous debt traps. This move was actuated by the desire to maintain
