• Eight East African nations made the list of the top 15 worst African currencies.
• Somalia has the weakest African currency in 2024, with an exchange rate of 28,118.33 SOS per US$.
• Guinea, with 8,613.26 GNF per US$, has the second weakest currency, but is still far behind Somalia.
• Madagascar, Uganda, and Zimbabwe follow, each with exchange rates between 3,200 and 4,500 LCU per US$.
• Nigeria’s currency traded at 1,478.97 Naira per US$, about 20 times stronger than Somalia's currency.
• Despite economic turmoil, South Sudan’s currency remained below 2,200 SSP per US$, performing better than Somalia and Guinea.
• The gap between Somalia and the rest of Africa’s currencies highlights extreme economic pressures unique to the Somali economy in 2024.

• Nigeria's urban population is projected to grow from 9% in 1950 to 70% in 2050.
• The urban population surpassed the rural population for the first time in 2020.
• Between 1980 and 2020, Nigeria’s urban population more than doubled, from 22% to 52%.
• The rural population share is expected to fall sharply from 91% in 1950 to just 30% in 2050.
• In 2010, Nigeria’s population was still majority rural (57%), but within just a decade, that changed.

• Egypt led every single year from 1961 to the most recent year — 63 years of dominance.
• Egypt peaked at over 10.2 million tonnes in 2009, no other African country came close.
• As of 2023, Egypt ranked 5th globally, just ahead of Italy and behind the US.
• Nigeria hit its highest level in 2015, with 4.2 million tonnes.
• Nigeria was the only country that got within 1.5 million tonnes of Egypt in 13 different years.
• Countries like Algeria, Morocco, and Tunisia remained consistent but far behind Egypt and Nigeria.
• Egypt’s lead is backed by large-scale irrigation and strong export systems.
• In 1987, Africa supplied 11.7% of the world’s tomatoes. But by 2023, its share dropped to 8.8%.

Key Takeaways:

• From 2014 to 2023, China’s imports from Nigeria fluctuated significantly, ranging between $907 million and over $3 billion.
• A sharp 53% drop was recorded between 2014 and 2015, followed by a further decline to a decade-low in 2016.
• China reached its highest import value in 2021, when it imported over $3 billion from Nigeria.
• Imports fell by 47% in 2022 but recovered by 48% in 2023, reaching $2.37 billion.
• The volatility in trade reflects the influence of global commodity prices, especially oil, and evolving bilateral trade dynamics.
• Mineral fuels, oils, and distillation products accounted for more than 50% of China's imports from Nigeria during the period of study.

Key takeaways:

• China led global gold production with 378.16 tonnes, representing approximately 10.4% of global output.
• The top five producers (China, Russia, Australia, Canada, and the United States) collectively produced 37% of the world’s gold.
• African nations showed remarkable strength, with four countries in the top 15 (Ghana, Mali, South Africa, and Burkina Faso).
• Ghana led Africa in gold production and ranked 6th globally, producing 135.11 tonnes in 2023.
• China, Australia, and Russia together produced nearly 1,000 tonnes of gold, accounting for 27.3% of total world production.

• Mobility led 2024’s startup funding in Francophone Africa with two deals at a value of $20.5M.
• Fintech had the highest number of deals at 7, but with a lower total value than Mobility.
• Cloud Services, Communications, and eCommerce each attracted over $3M from just one deal.
• Agritech recorded the lowest funding at only $0.2M, despite being a vital sector.
• Logistics, Healthtech, and HR/Payroll sectors saw two deals each, but with moderate funding.
• Electric Motorcycle and Eyewear startups each secured $2M–$3M in one-off deals, showing niche interest.
• Digital Health drew limited attention in both deal count and funding, signalling untapped or underdeveloped potential.

• The Nigerian naira depreciated by a record-breaking 129.23% in 2024, the highest drop in the last decade.
• From 2015 to 2022, the naira's depreciation was relatively controlled, rarely exceeding 20% year-on-year.
• The exchange rate remained nearly flat from 2017 to 2019, showing signs of stability.
• In 2023, the naira lost over half its value (51.46%), marking the beginning of the current volatility wave.
• The exchange rate crossed the ₦1,000/$ threshold in 2024 for the first time in history.

Key Takeaways:

• Electrical and electronic equipment was China’s top export to Nigeria, valued at $2.88 billion.
• The top five export categories (electrical equipment, machinery, vehicles, plastics, and iron/steel products) together accounted for over $8.78 billion, representing around 44% of total exports.
• Industrial goods such as machinery and steel, along with manufactured consumer goods, dominate China’s export portfolio.
• Products like apparel, synthetic materials, and household items featured strongly among the top export categories.
• In total, China exported goods worth $20.18 billion to Nigeria in 2023.

Key Takeaways:

• In 2023, China imported $1.41 billion worth of mineral fuels and oils from Nigeria, making it the leading import category.
• The top three import categories (mineral fuels, ores, and salt/earth materials) together made up nearly 89% of the total import value.
• Nigeria’s exports to China are largely raw materials and natural resources, with minimal contribution from manufactured goods.
• The top ten product categories accounted for almost 99% of China’s total imports from Nigeria.
• Agricultural and animal products such as oil seeds, raw hides, and spices also formed part of Nigeria’s export portfolio.
• China’s total imports from Nigeria were valued at $2.37 billion in 2023.

Key Takeaways:

• In 2023, China’s exports to Nigeria totaled $20.18 billion, while imports from Nigeria reached only $2.37 billion.
• China’s trade surplus with Nigeria amounted to approximately $17.8 billion.
• Chinese exports accounted for 89.5% of the total bilateral trade, with Nigerian exports making up just 10.5%.
• The trade imbalance underscores Nigeria’s strong dependence on Chinese goods and industrial inputs.
• For every $1 Nigeria exports to China, it imports $8.50 worth of Chinese products.

• Somalia’s currency has depreciated by 26.4% between 2015 and 2024.
• The sharpest yearly depreciation was in 2019, at 4.64%.
• From 2020 to 2021, the SOS saw its smallest year-on-year shift at 1.08%.
• Despite fluctuations, every year from 2015 to 2024 recorded a net increase in SOS per US$.
• 2017 recorded near-stable currency performance with just a 0.16% change from the previous year.

Key Takeaways:

• Africa's gold production grew steadily from 621.78 tonnes in 2010 to 1,003.98 tonnes in 2023.
• The continent experienced an overall increase of 61.5% in gold output over the 14 years.
• The continent saw consistent year-on-year growth, with only minor declines in 2020 and 2022.
• 2023 marked the highest production level in more than a decade.
• The average annual growth rate in gold mine production over the period was approximately 4%.