Fashion - Intelpoint

Nigeria spent $57.67B on external debt interest from 1970 to 2023.
Payments were low initially but rose steadily as borrowing increased.
In the 1990s, interest payments fluctuated due to debt rescheduling and restructuring agreements.
In 2005, payments jumped to $5.31B following a strategic debt buyback that accelerated obligations.
Annual payments climbed 1,139.6%, from $0.31B to $3.79B, showing rising debt service costs.

Ghana’s debt interest payments remained below $200 million for nearly three decades, reflecting relatively low external borrowing.
From 2000 to 2010, payments rose moderately, reaching $300 million by 2010 as Ghana’s borrowing needs expanded.
Interest payments accelerated sharply, surpassing $1 billion in 2017 and peaking at $1.49 billion in 2022.
After years of growth, payments plunged to $780 million in 2023, suggesting debt restructuring, payment relief, or reduced new borrowing.

Johannesburg is home to the highest number of millionaires in Africa, with 11,700 individuals.
Six out of the top ten wealthiest African cities are located in South Africa.
Cairo leads North Africa with 6,800 millionaires, showing its dominance as a financial hub.
Nairobi has 4,200 millionaires, making it East Africa’s wealthiest city.
Lagos, with 3,600 millionaires, remains West Africa’s wealthiest city.
Lifestyle regions, such as the Cape Winelands and the Garden Route, feature prominently, reflecting the importance of property and lifestyle economies.
Casablanca, with 2,900 millionaires, underscores Morocco’s rising appeal as a North African wealth centre.

Capital expenditure accounted for the largest share of Lagos State’s Q1 2025 spending, at 52%.
Overhead costs consumed 22% of the total expenditure.
Personnel costs accounted for 18%, reflecting the importance of workforce expenses.
Debt servicing made up 5%, indicating relatively low pressure from debt obligations.
The balance between recurrent (personnel, overhead, debt, and other recurrent) and capital spending leans heavily towards long-term growth.

Internally Generated Revenue (IGR) accounted for 61% of Lagos State’s Q1 2025 receipts.
VAT was the second-largest funding source, contributing 22%.
Loans made up 8% of total inflows for the quarter.
Opening balance accounted for 4%, indicating a moderate carryover from the previous year.

South Africa dominates with 41,100 millionaires, accounting for more than 1 in 3 African millionaires, far ahead of any other nation.
Egypt (14,800) and Morocco (7,500) round out the top three, highlighting North Africa’s wealth concentration.
Nigeria (7,200) and Kenya (6,800) confirm West and East Africa’s growing wealth hubs, though still far below South Africa.
Mauritius (4,800) and Seychelles (500) rank surprisingly high relative to population size, showing their role as finance and wealth management hubs.

Mauritius is the fastest-growing hub with a 63% surge in millionaires, highlighting its rising financial services sector and favourable investment climate.
Rwanda (+48%) and Morocco (+40%) also show strong upward trends, driven by economic diversification and political stability.
Nigeria (-47%), Angola (-36%), and Algeria (-23%) recorded the steepest declines, reflecting oil dependence, currency challenges, and political instability.
Africa overall saw a -5% dip, showing that while select countries are thriving, the continent’s wealth distribution has shifted unevenly.

Cape Verde attracted no foreign direct investment during the early 1990s, signalling limited investor interest at the time.
FDI inflows skyrocketed from $130M in 2006 to an all-time high of $170M in 2008, before stabilising above $100M for most of the 2010s.
The country experienced large swings, ranging from a high of $150M (2014) to lows of $50M (2020).
Despite recovering to $130M in 2023, inflows dropped sharply to $60M in 2024, the weakest figure in over a decade.

Aliko Dangote of Nigeria is the richest Black billionaire globally, with more than double the wealth of the next African on the list.
Six of the top 10 billionaires are American, led by David Steward ($11.4B) and Robert F. Smith ($10.8B).
Nigeria is the only African country with multiple names: Dangote ($23.9B), Mike Adenuga ($6.8B), and Abdulsamad Rabiu ($5.1B).
Fortunes span industries from cement, oil, and telecoms in Africa to tech, investment, sports, and entertainment in the US.

Black River, Mauritius, saw the fastest growth in millionaires: more than 105% over 10 years, adding about 560 new millionaires.
Marrakech, Morocco, grew by 67%, gaining roughly 680 millionaires from tourism and luxury real estate.
Whale Coast, South Africa, added around 600 millionaires with 50% growth, driven by lifestyle migration.
Cape Winelands, South Africa, gained about 1,100 millionaires, growing 42% over the decade.
Cape Town grew more modestly at 33%, but had the largest absolute gain—over 2,100 millionaires—reaching 8,500 total.

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