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  • Over the years, the value of the Zimbabwean Dollar (ZWL) has been on a massive downward trend compared to the US Dollar (USD). This has led to the latter accounting for most of the domestic transactions in the Southern African country. The ZWL went from 10,152.5 to USD 1 as of January 1, 2024, to 30,674.3 on April 1, 2024. The Reserve Bank of Zimbabwe is introducing a gold-backed digital currency as a legal tender to stabilise its currency.
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    Key takeaways:

    • Tecno (23.55%) and Infinix (21.73%) lead the Nigerian mobile market, making up a combined 45.28% of the market share.
    • Samsung (12.36%) is the leading non-Chinese brand, with Apple (9.43%) following closely behind.
    • Xiaomi (7.15%) and Huawei (4.34%) are emerging as significant players in Nigeria's mobile sector.
    • Premium brands such as Samsung (12.36%) and Apple (9.43%) have considerable but smaller market shares compared to their Chinese counterparts.
    • Chinese manufacturers collectively dominate over 60% of the mobile market in Nigeria.
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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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  • 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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    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 African countries with the highest life expectancies as of 2023 are: Algeria - 77 years, Tunisia - 77 years, Cape Verde - 77 years, Mauritius - 76 years.

    The African countries with the lowest life expectancies: Central African Republic - 55 years, Lesotho - 55 years, Nigeria - 54 years, Chad - 54 years.

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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 FIRS collected ₦21.7 trillion, outpacing the target of ₦19.4 trillion set by the government.
  • FIRS grossed its highest revenue of all time since 2012 in 2024.
  • Comparing the values of 2021, 2022, 2023 and 2024 reveals a significant shift.
  • The tax revenue collected in 2024 surpassed the amount collected in 2023 by an outstanding 75.6%.
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  • The highest-ranked countries have managed to provide electricity to every single citizen.
  • Four of the six countries with 100% access are from North Africa.
  • The list isn't a continuous climb; there's a big jump down from the 100% group to the rest of the top 15.
  • The data shows that with the right investment and policies, it is a very realistic goal for a country to achieve full electrification.
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  • Sudan’s debt-to-GDP ratio of 238.8% is the highest in Africa and over twice the size of its economy.
  • Three African countries—Sudan, Cabo Verde, and Zambia—have debt burdens exceeding 100% of their GDP.
  • Egypt, Mozambique, and the Congo Republic follow closely with ratios above 88% each, despite efforts at economic reform.
  • Ghana and Sierra Leone are also in the top 10, showing that West Africa isn’t exempt from debt pressure.
  • Nigeria, while not in the top 10, has a debt-to-GDP ratio of 41.3% and ranks 43rd in Africa.
  • A high debt-to-GDP ratio often limits a country’s ability to invest in growth-driving sectors, even if the economy is growing nominally.
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  • DR Congo has the lowest debt-to-GDP ratio in Africa, at just 11.1%.
  • Africa’s average debt-to-GDP ratio stands at 63.2%, meaning most countries on the bottom 10 list are performing better than the continental average.
  • Nigeria, despite its size and challenges, still maintains a relatively moderate debt load of 41.3%.
  • Botswana’s debt ratio of 18.1% places it among Africa’s most fiscally conservative economies.
  • Ethiopia and Guinea, both undergoing major economic transitions, still keep debt levels below 32%.
  • The presence of both low-income and resource-rich countries on the list shows that low debt isn’t exclusive to one economic model.
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  • The low access rates in nations like South Sudan and the Central African Republic are often linked to conflict and instability.
  • Fourteen countries on the continent have less than 50% of their population with electricity.
  • At the very bottom of the list, South Sudan has a 5.40% access rate, while Burundi stands at 11.60% and Chad at 12.00%.
  • Twelve African countries have less than 40% access.
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  • The United Kingdom accounted for over 62% of total capital imports into Nigeria in Q1 2025.
  • South Africa and Mauritius are the only African countries in the top 10, ranking 2nd and 3rd respectively.
  • Traditional powerhouses like the US and UAE contributed significantly less than the UK.
  • Emerging markets like the Cayman Islands and Singapore also made the list, reflecting Nigeria’s diverse capital origin base.
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  • Nigeria now has 7 AfroBasket titles, with five consecutive wins from 2017 to 2025.
  • Senegal leads the all-time chart with 11 titles, last winning in 2015.
  • Only three countries, Senegal, Nigeria, and Congo have more than two titles.
  • Nigeria is the only team to win five consecutive titles in a row.
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  • Nigeria’s capital importation fell from $21.3 billion in 2013 to $12.3 billion in 2024, marking a 42% decline over the 12-year period.
  • After four years of consistent decline, capital inflows surged by 215% in 2024, rising from $3.9 billion in 2023 to $12.3 billion.
  • The data reflects sharp swings, with 2019 peaking at $24 billion, followed by a 60% plunge in 2020 due to global and domestic disruptions.
  • In 2023, capital imports plummeted to their lowest point of the 12-year period, reaching just $3.9 billion.
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  • Nigeria recorded $126.3 million in foreign direct investment during Q1 2025, comprising 2.2% of the country's total capital importation.
  • Equity investment was the primary FDI channel, accounting for $124.31 million or 98.4% of the total FDI.
  • "Other Capital" (possibly intra-company loans or reinvested earnings) contributed just $1.98 million, a marginal 1.6% share.
  • The dominance of equity suggests that foreign investors are committing more to long-term ownership and participation in Nigerian businesses rather than short-term financing
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  • Nigeria recorded $5.64 billion in total capital importation in Q1 2025.
  • Portfolio investment alone contributed a massive $5.2 billion, 92.3% of total inflows.
  • FDI contributed just $126.29 million, making up only 2.2% of total capital importation.
  • Loans totalled $311.17 million, accounting for 5.5% of the total inflow.
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  • Kenya’s insurance sector PAT grew by 143% between 2017 and 2024.
  • The lowest point came in 2020, with profits dropping 57.7% to KSh 6.4B.
  • A sharp rebound followed, with profits rising steadily each year from 2021 to 2024.
  • The strongest yearly growth was in 2019, with a 108% surge in profits.
  • By 2024, PAT stood at KSh 33.1B, the highest in the seven-year period.
  • Profits more than quadrupled from 2020 (KSh 6.4B) to 2024 (KSh 33.1B).
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  • Gross premium income in Kenya’s insurance sector grew by 89.1% between 2017 and 2024.
  • Premiums rose from KSh 209.0B in 2017 to KSh 395.3B in 2024.
  • The most substantial annual growth occurred in 2023 at 17.6%.
  • 2021 also recorded a significant rise of 16.6% growth.
  • The slowest growth was observed in 2020, at just 2.3%, likely reflecting the impact of the pandemic.
  • Despite fluctuations, the sector has maintained an upward growth trajectory across the 7 years.
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  • Kenya’s insurance assets more than doubled in seven years, from KSh 591B in 2017 to KSh 1.2T in 2024.
  • This represents a 109.4% growth over the period.
  • The sector recorded positive growth every single year, with no declines.
  • The most substantial growth occurred in 2024, at 17%.
  • Asset growth averaged between 7.5% and 12.5% annually until the surge in 2024.
  • 2023 marked the first time assets crossed the KSh 1 trillion mark.
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  • Government securities consistently dominate, holding between 69% and 71% of total insurance assets.
  • In 2022, government securities reached their peak share at 71.4%.
  • Investments in subsidiaries fell steadily from 11.9% in 2021 to 8.4% in 2024.
  • Ordinary shares and investment property grew slightly, reaching 9.4% and 9.2% respectively, in 2024 and 2023.
  • Term deposits declined from 8.6% in 2021 to around 6.7% in 2024.
  • The sector made gradual diversification moves but remained highly concentrated in government securities.
  • The consistent focus on low-risk assets highlights insurers’ preference for stability and capital preservation.
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  • Kenyan banks’ total assets grew by 56.6% between 2019 and 2024.
  • In 2024, assets declined slightly by 1.6%, the first drop in five years.
  • The sector recorded consistent growth from 2019 to 2023 before dipping in 2024.
  • The highest growth came in 2023, when assets surged 17.6% to KSh 7.7T.
  • Assets rose from KSh 4.8T in 2019 to KSh 7.6T in 2024.
  • Despite the 2024 dip, banks added nearly KSh 3 trillion in assets over the five years.
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  • Kenyan banks’ Profit-Before-Tax (PBT) grew by 62.8% between 2019 and 2024.
  • Total PBT rose from KSh 159.9B in 2019 to KSh 260.3B in 2024.
  • The lowest point was in 2020, when profits dropped to KSh 112.8B, a 29.5% decline.
  • Banks recorded their strongest recovery in 2021 with a 73.2% increase in PBT.
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