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  • In January 2024, the communications authority in Zimbabwe warned against using Starlink Internet Services. The Southern African country has less than 100k subscribers on Fibre and Fixed LTE each. At the same time, a significant portion of its citizens rely on mobile Internet, with 10.97 million subscriptions as of 2023 in a country with 16.67 million people.

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    The United States of America dominated the 2020 Olympic Games, winning a total of 113 medals followed by China with 88. No African country is in the top ten by the number of medals won.

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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
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    A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

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  • The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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    Countries by Global Innovation Index 2024

    The Global Innovation Index 2024 reveals a striking contrast in innovation performance between countries globally and across Africa. Switzerland leads the global rankings with an impressive score of 67.5, followed by Sweden (64.5) and the USA (62.4), highlighting their sustained investments in research, development, and technological advancement.

    In Africa, Mauritius takes the top spot with a score of 30.5, followed closely by Morocco (28.8) and South Africa (28.3). However, even Africa's most innovative nations achieve less than half the score of global leaders, indicating a significant innovation gap.

    Nigeria ranks 15th in the African ranking and 113th globally, out of 133 countries, with a score of 17.1.

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  • 21% of the ₦17.67 billion lost to fraud in 2023 was recorded in October totaling ₦3.76 billion

    Fraud data submitted to the Nigeria Inter-Bank Settlement System by financial institutions in 2023 reveals that customers lost ₦17.67 billion across 95,630 cases, with the highest loss of ₦3.76 billion occurring in October 2023

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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
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Other Insights

Global sales of electric vehicles are projected to hit 13.33 million by 2027, up from 4.6 million in 2021, indicating a significant increase in the shift from petroleum product-powered vehicles to electronic ones.

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Kenya received $377.8 million (Sh50 billion) from a consortium of European agencies to build a Bus Rapid Transport (BRT) lane in Nairobi in 2023 which is also the first electric bus lane in the East Africa region. The European Union will provide $48.9 million (Sh6.47 billion) in grants, the European Investment Bank (EIB) and Agence Française de Développement (AFD) will jointly support the project with $256.8 million (Sh33.9 billion), and Kenya will bring $72.0 million (Sh9.5 billion).

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In 2023, Nigerians went to the polls to elect the president and Federal House of Assembly members and elect state governors and House of Assembly members. Here's a breakdown of the 14,859 candidates who participated in the 2023 general elections in Nigeria.

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There were over a hundred Internet Service Providers in Nigeria and only 4 have over 10,000 active subscribers as of Q3 2022. Spectranet led with 115, 103 active subscribers. No other operator has up to 20,000 active subscribers.

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The pump price of petrol in Nigeria increased from ₦189 to ₦617 between May 29, 2023 and July 18, 2023, a 226% increase within two months. The announcement of the removal of petrol subsidy led to a sharp increase in its pump price.

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Spectranet had the highest Internet subscribers among the Internet Service Operators (ISOs) in Nigeria as of Q3 2022, accounting for 56.19%. No other operator has up to 10% of the total number of subscribers on ISOs in the country.

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As of February 2023, Airtel had the fastest Internet speed of all mobile operators in Nigeria at 22.42Mbps, followed by MTN with 21.71Mbps, and Glo with 8.70Mbps. 9mobile comes last with a speed of 8.32Mbps. Airtel's speed of 22.42Mbps was about 26% of Starlink's speed.

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Of the total amount raised by Millionaire West African Startups (MWAS) between 2010 and 2019, startups with all male founders raised $1.4b, accounting for 79.9% and MWAS with at least a female co-founder on the team accounted for 20.1% of the total amount raised.
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Mobile App transfers increased by 174% to ₦53.21 trillion 20 2021, it also increased by 108% to ₦111.12 trillion in 2022. There was also a charge increase in the volume of funds transfers done on mobile apps. The Central Bank of Nigeria, in its figures, separated Mobile App transfers from those of Mobile Money Operators (MMOs).

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The value of transactions conducted over Unstructured Supplementary Service Data (USSD) in Nigeria in 2021 was ₦5.2 trillion, 73% higher than 2020 figures. The total transaction value dropped by ₦685 billion in 2022, a 13.3% decline. The transaction volume also witnessed a 6% decline.

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As of 2021, 6 in every 10 males aged 15 and above in sub-Saharan Africa had an account with a financial institution, compared to almost half of all females of the same age in the region. Check out the share of sub-Saharan Africans with bank/mobile money accounts.
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Nigeria was the seventh most populous nation in the world in 2020, with 206.1 million people. Projected to reach a population of 401.3 million by 2050, Nigeria will rank third after India (1st) and China (2nd). According to Institut national d'études démographiques' projections, Nigeria, Ethiopia, DR Congo, Egypt, Tanzania, and Kenya will be among the world’s top 20 most populous countries by 2050.

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  • Gold hit its trough at $1,985/oz in February 2024, marking the low before an uninterrupted rally.
  • After a spring consolidation, gold surged past $2,500/oz in September 2024 (peaking then at $2,546), signaling broadening investor demand.
  • The metal first cracked the $3,000/oz threshold in March 2025 when it reached $3,026, underscoring accelerating momentum.
  • That rally culminated in a new record of $3,323/oz in April 2025, a 67.5% gain from the February 2024 low.
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Global internet usage overview
  • A staggering 96.3% of users access the internet via mobile devices, making smartphones the most important digital tools in the world today.
  • While 82.7% of the global urban population is online, only 47.4% of the rural population has access. That’s a huge gap that reflects deep inequalities in infrastructure and digital opportunity.
  • Spending 6 hours and 38 minutes online every day isn’t just scrolling time; it’s a shift in how humans live, learn, and earn. It’s equivalent to more than 100 full days online per year per person.
  • Although mobile dominates, 61.5% of users still access the internet through computers, proving that traditional devices still matter for work, school, or content creation.
  • While 70% of men use the internet, 65.7% of women do. This gap may seem small, but on a global scale, it represents millions of women without access to tools for learning, income, and visibility.
  • With billions spending almost 7 hours daily online, the internet is where decisions are made, opinions are formed, and lives are influenced.
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Share of private capital deals (volume) in Francophone Africa, by Sector, 2012 – 2024 H1
  • Between 2020–2024 H1, 40.58% and 50.91% of deal volume went to consumer staples and consumer discretionary respectively, showing that everyday goods and lifestyle products are fast becoming investment magnets.
  • The utilities sector deal volume exploded in recent years, jumping from 21.62% in 2016–2019 to 70.27% in 2020–2024 H1, an indication that basic infrastructure services like energy, water, and power are now central to investment strategies.
  • 78.57% of all deal volume in the information technology sector happened in the most recent period, suggesting that digital solutions and tech platforms are increasingly being backed by private capital.
  • The industrials sector also bounced back, with 46% of its deal volume coming in the 2020–2024 period.
  • Energy sector investment dropped from 66.67% to 33.33%, and real estate recorded no new deals after 2015.
  • Health care remained consistent across all three periods, securing exactly 33.33% of the deal volume each time, highlighting its stability, even if not standout growth.
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  • Nigeria’s currency has undergone 10 key shifts; from note introductions to redesigns and a digital launch.
  • Between 1999 and 2005, four new notes; ₦100 to ₦1,000, were introduced in response to inflation.
  • The ₦200, ₦500 & ₦1,000 notes, which dominate in circulation by value, were revamped with high-security features.
  • In 2021, Nigeria launched the eNaira, making it the first African country with a Central Bank Digital Currency.
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  • Rashidi Yekini remains Nigeria’s all-time top scorer with 40 goals in 58 appearances — a record that has stood for over two decades.
  • Victor Osimhen now ranks 2nd, overtaking Segun Odegbami by scoring 26 goals in just 40 matches.
  • Segun Odegbami, now 3rd, recorded 23 goals in 46 appearances during his time with the national team.
  • Among the top scorers, Osimhen has the best goals-per-game ratio, scoring 0.65 goals per game, compared to Yekini’s 0.69 and Odegbami’s 0.50.
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Key Takeaways:
  • South Africa’s outstanding debt to the International Monetary Fund (IMF) decreased from SDR 3.05 billion in March 2023 to SDR 762.8 million by March 2025.
  • The debt level remained unchanged at SDR 3.05 billion through the first three quarters of 2023.
  • Starting in December 2023, South Africa began making consistent quarterly repayments of SDR 381.4 million.
  • This trend demonstrates steady progress in debt reduction and a strengthened commitment to fiscal discipline.
  • The country is potentially on track for full repayment of its debt by the end of 2025.
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