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Africa

Why Nigeria Needs More Direct Investment to Grow its Economy

In May, the National Bureau of Statistics (NBS) published its Nigerian Capital Importation first-quarter Report, which revealed that Nigeria received $5.85 billion capital inflows in the first quarter (Q1) of 2020. 

According to the NBS, the $5.85 billion represents over fifty percent increase when compared to what Nigeria received in the fourth quarter of 2019. However, when compared to the corresponding first quarter period of 2019, the investment flow into Nigeria shows a 31.19% decline.

The pandemic should not take our freedoms too.

As at the time of writing this, there are 22,333 confirmed coronavirus cases in Africa and 1,125 coronavirus deaths.

When compared to cases in other countries, these figures show that the health crisis does not so severely hit Africa nations, yet, the implications on its economy are grave and catastrophic. 

For the first time in 25 years, sub-Saharan Africa is about to go into recession, according to World Bank estimates. Following 2.4 percent growth last year, the forecast for 2020 is between -2.1 and -5.1 percent as the economy contracts.  

Why Africa will find Financial Stability in Cryptocurrency

Africa is the most resourcefully blessed continent in the world. But while many of its countries are struggling with financial instability and avoidable economic downturns, the cryptocurrency has all the potential to make them prosper. Unlike before, Africa may have a viable solution to its many problems.

How Socialism Destroyed Africa

Equating capitalism with colonialism, Africa’s nationalist leaders rejected it and adopted socialism in the 1960s. Foreign companies were nationalized, a string of state-owned enterprises was established and a plethora of state controls on rent, prices, imports, and foreign exchange were imposed to capture the commanding heights of the economy.

Will the Blockchain Solve Two of Africa’s Biggest Problems?

Africa is known for its vast untapped mineral resources than any other place in the world. Its human and technological potentials are also limitless but all are greatly limited by the inability of leaders to solve problems affecting key areas towards development like agriculture and the electoral process.

3 things the recent elections in Nigeria reveals about the nation

Nigeria, Africa`s biggest economy and the world`s most populous black nation recently conducted its 2019 general elections which saw the incumbent President Muhammadu Buhari re-elected, although not without a fight from his main opposition Atiku Abubakar a business tycoon and former vice president.

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