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  • 23 African countries are in one phase or the other in launching a digital currency
    Senegal's cancellation of its experiment with an eCFA in 2016 makes Nigeria's eNaira the only active Central Bank Digital Currency (CBDC) in Africa. Half of the countries in Africa are currently not doing anything about CBDC, while a larger share of the other half is currently in the research phase.
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    Top ten cocoa-producing countries in the world in 2020

    In 2020, 5.2 million metric tons of cocoa were produced globally, with four African countries — Ivory Coast, Ghana, Nigeria, and Cameroon — accounting for 68% of the produce.

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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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    Africa's sanitation crisis is alarming, with 17 of the top 20 countries having the highest open defecation rates.

    Eritrea (67%), Niger (65%), and Chad (63%) lead, putting millions at risk of disease.

    Even Nigeria, the most populous African country, has 18% of its population practising it.

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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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    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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  • Twelve Nigerian banks listed on the Nigerian Exchange Group (NGX) reported a total profit of ₦3.42 trillion in 2023, with all banks making a profit and seeing increases from 2022. The top four banks — Zenith Bank, Access Holdings, UBA, and GTCO — contributed 71% of this amount. Zenith Bank saw a 202% increase from the previous year and led the way with ₦676.9 billion, while Access Bank recorded the highest increase in profits (307%). Jaiz Bank made the least profit (₦11.2 billion) followed by Sterling Bank (₦21.6 billion) and Wema Bank (₦36 billion).

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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.

    See more
Other Insights
     
  • The DR Congo is Africa’s copper giant, exporting $19.8 billion in 2024 (56.7% of the total).
  • Zambia follows with $7.6 billion, representing 21.7% of exports.
  • Together, the DR Congo and Zambia control almost 80% of Africa’s copper trade.
  • Tanzania is the third-largest exporter with $2.2 billion (6.3%).
  • Despite 52 African countries exporting copper, 42 of them collectively make up only 2% of the total value.
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  • Africa has recorded more than half of the world’s wildfire-affected areas every year since 2012.
  • In some years, the continent’s share reached as high as 65% of global burned land.
  • North and South America are the second most affected regions, with shares ranging from 15% to 25%.
  • Asia’s share has remained steady at about 10% throughout 2012–2024.
  • Europe and Oceania each account for only about 5% annually, making them the least affected.
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  • South Africa’s digital service imports consistently overshadowed export earnings, despite exports growing by over 300% since 2005.
  • South Africa exported $76.418 billion in digital services between 2005 and 2024.
  • Imports during the same period reached $113.67 billion.
  • The result was a trade deficit of $37.252 billion in over 20 years.
  • Exports rose from just $1.71 billion in 2005 to $7.05 billion in 2024.
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  • Ghana exported $49.11 billion in digital services between 2005 and 2024.
  • Digital services imports recorded during the same period was $53.00 billion.
  • Ghana recorded a $3.9 billion trade deficit across the two decades.
  • Exports grew from just $78 million in 2005 to $5.18 billion in 2024.
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  • Egypt spends twice as much on digital services imports than it earns from exports, with $8.31b on imports and $4.03b from exports recorded in 2024.
  • Egypt exported $46.007 billion in digital services between 2005 and 2024.
  • Imports during the same period reached $101.98 billion.
  • The result was a trade deficit of $55.973 billion in over 20 years.
  • Export earnings rose from just $1.91 billion in 2005 to $4.03 billion in 2024.
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  • Morocco recorded a total of $61.75 billion digital services trade exports and $35.31 billion imports, revealing a staggering $26.44 billion trade profit in 20 years.
  • Morocco has always been the leading country in Africa as far as digital services trade is concerned.
  • From 2005-2024, Morocco digital services exports have always outpaced imports.
  • Morocco digital export earnings have grown from $1.11b in 2005 to $6.74b in 2024, revealing over 500% growth in 20 years.
  • Imports during the same time-frame reached 3.17b from $780m in 2025.
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  • South Africa led the continent with a massive 68.2% of Africa’s insurance market, far ahead of all others combined.
  • Morocco (8.7%), Egypt (4.0%), and Kenya (3.6%) were the next largest.
  • Major economies, such as Nigeria (1.7%) and Algeria (1.9%), played surprisingly small roles in insurance penetration.
  • “Others” refers to the rest of Africa, which held just 6.4%, indicating a heavy concentration in a few markets.
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  • Financial services dominate Nigeria’s digitally delivered exports, contributing $1.15bn (over 74%).
  • Telecommunications ($184m) and insurance & pension services ($147m) follow, though far smaller.
  • Computer, information, and IP services registered almost no exports, highlighting untapped digital potential.
  • Nigeria’s digital exports remain highly concentrated in finance, leaving other sub-sectors underdeveloped.
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  • Majority trust will be moderate to high: 92.6% of Nigerians are expected to have either high (43.9%) or moderate (48.7%) trust in financial institutions by 2025.
  • Transparency is the biggest driver of trust as 46.2% of respondents believe transparent policies and fees will most improve their trust.
  • Security is a rising priority; 30.2% of Nigerians highlight improved security features as a key factor in strengthening confidence in financial institutions.
  • Customer service and regulation still matter as 17% emphasise better customer service and 6.6% stronger regulatory oversight, showing that while oversight has a role, people prioritise fairness, safety, and service.
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  • São Tomé & Príncipe’s dobra is the weakest African currency, trading at over 22,000 per US dollar.
  • Sierra Leone and Guinea follow closely, highlighting persistent monetary pressures in West Africa.
  • Nigeria’s naira, despite recent reforms, ranks 9th weakest, reflecting ongoing exchange rate volatility.
  • East African currencies such as the Ugandan shilling, Tanzanian shilling, and Rwandan franc also appear, showing regional vulnerability.
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  • Jumia's highest sales are typically recorded in the fourth quarter of the year due to Jumia Black Friday, except in 2022.
  • Black Friday sales generally run through November.
  • GMV represents the total value of orders for products and services, including shipping fees and VAT, before discounts and irrespective of cancellations or returns.
  • GMV tracks platform usage and is not influenced by whether sales are first-party or third-party, or by the payment method used.
  • The lowest GMV in six years was recorded in 2024 at $720 million.
  • A major factor behind the GMV decline is foreign exchange depreciation, as 8 out of 10 local currencies in Jumia’s markets lost value against the US dollar, especially in Nigeria.
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  • Jumia launched JumiaPay in 2016 as a third-party payment solution.
  • Jumia partnered with Mastercard in 2016, and in 2019, Mastercard invested €50 million.
  • In June 2024, Jumia ended its commercial deal with Mastercard Asia/Pacific but still accepts Mastercard as payment method.
  • JumiaPay is available in nine countries, including Nigeria, Ghana, Kenya, and Egypt.
  • The JumiaPay app offers bill payments, airtime recharge, transport ticketing, and financial services.
  • JumiaPay’s digital and financial services category is its fastest-growing by GMV.
  • JumiaPay’s highest transaction share was 44.4% in 2024.

 

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  • The IMF’s new 2019 GDP base year added between $20 billion and $235 billion annually to Nigeria’s GDP from 1990–2025.
  • 2014 saw the biggest jump — an upward revision of $235.1 billion, raising GDP to $811.1 billion from $576.0 billion under the old base.
  • The rebased data consistently show 40–45% higher GDP values through the 2000s and 2010s, revealing a larger economy than earlier estimates.
  • The impact was strongest during Nigeria’s oil boom years (2007–2014), when rebasing captured fast-growing sectors like digital services, informal trade, and modular refining.
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  • Sudan ranks highest in Africa with 18 coup attempts, the most in the continent since 1950.
  • Burkina Faso, Burundi, and Sierra Leone follow closely with 11 attempts each.
  • Ghana and Guinea-Bissau have each experienced 10 coup attempts, ranking among the top six.
  • West Africa remains the most coup-prone subregion, accounting for 9 of the top 15 coups in the region.
  • Africa has witnessed 226 coup attempts between 1950 and 2025.
  • Most coup-prone countries share traits like weak institutions, governance failures, and economic hardship.
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  • Nigeria’s GDP has been rebased to a 2019 base year, raising its nominal value by about 40.8%, according to the IMF’s October 2025 update.
  • The revision includes new data on digital, informal, and service sectors, giving a fuller picture of the economy.
  • Nigeria ranked among the world’s top 20 economies in 1998, 2013, 2014, and 2015, peaking in 2014 at $811 billion.
  • Despite later declines from currency depreciation and slower growth, the revision reaffirms Nigeria’s position as Africa’s largest economy.
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  • For every $1 Ghana earns from pharmaceutical exports, it spends about $22 on imports, underscoring the country’s overwhelming dependence on foreign pharmaceutical products.
  • Ghana is a net importer of medicine and has been for nearly two decades.
  • By 2015, Ghana’s pharmaceutical imports reached its peak with $348.12m while exports were $3.10m, meaning imports were nearly 100 times larger.
  • In 2016, Ghana recorded its highest-ever export performance at $78.33 million, but even then, imports stood at $154.96m, almost two times higher.
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  • In 2023, Ghana recorded $91.9m in ceramic exports, amassing $19.9m profit, after 17 years of consistent trade losses and heavy dependence on imported ceramic products.
  • For 17 years, Ghana’s ceramic market was largely import-driven, with local industries struggling to compete against foreign products.
  • Ghana's ceramic products trade recorded $1.397 billion in trade deficit in almost two decades.
  • Ghana's ceramic industry has finally moved from dependency to a driver of profit and progress.
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  • Over the past two decades, Egypt exported roughly twice as much ceramic products as it imported, positioning itself as a key player in regional and global ceramic products trade.
  • In 2012, exports peaked at $488.51 million, more than double imports at $178.23 million, setting a clear demonstration of strong industrial and commodity output.
  • In 2008, exports soared to $325.86 million, more than doubling imports at $126.21 million.
  • Between 2017 and 2021, the export sector showed stable performance, averaging $327 million annually.
  • The year 2021 was a standout, with exports reaching $401.12 million, reflecting a strong rebound that reaffirmed Egypt’s export capacity post-pandemic.
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