Insights Archive - Page 81 of 86

eCommerce

Alibaba made $1.17 trillion in sales in 2020, larger than what Amazon and Walmart did in the same period, making the Chinese company the biggest eCommerce in the world.

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Telecommunications

In 2022, MTN Group spent ZAR 12.7b paying salaries and incurring other staff costs (an 8.1% increase from 2021), amounting to about 6.1% of its total revenue (ZAR 207b). After accounting for staff costs, they still pocketed ZAR 194b - 93.9% of the revenue for the year.

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Cinema
The Nigerian movie industry, mainly financed via public or private funding and international grants, produces the most films in Africa, yearly. Nigeria produced more than double the number of films that the Ghanaian and Kenyan movie industries produce annually.

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Wealth

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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Population

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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Economy
Every Nigerian president since 1999 left office with a higher dollar to naira exchange rate than when they took office. Will President Tinubu's tenure be the exception?

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Import Oil & Gas
Between 2010 and 2022, Nigeria imported 245 billion litres of Premium Motor Spirit (PMS), popularly called petrol, with the highest imports recorded in 2022. Here is the volume of PMS imported into the country in 13 years from 2010.

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Education

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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Cinema
The Nigerian movie industry, mainly financed via public or private funding and international grants, produces the most films in Africa, yearly. Nigeria produced more than double the number of films that the Ghanaian and Kenyan movie industries produce annually.

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Other Insights

Moniepoint achieved unicorn status after nine years of operation. Here is how long it took other African startups to reach the milestone.

Agriculture

From 1961 to 2022, Nigeria, Egypt, and Madagascar led Africa in rice production, supporting local economies and food security. Nigeria peaked in 2017 with over 10 million tonnes, while Egypt and Madagascar also recorded strong years. Since 2014, Nigeria has held the title of Africa's largest rice producer.

GDP

Since 2015, Seychelles has topped Africa's GDP per capita rankings because of its strength in tourism and fishing. Libya, Equatorial Guinea, and South Africa have also occupied the top spot since 1960. Watch how the countries vied for the top ten spots over the years.

IGR

Lagos led Nigerian states with ₦815.9 billion in Internally Generated Revenue for 2023, followed by the FCT with ₦211.1 billion. Despite only a 25% growth, Lagos’ IGR confirms its economic dominance. The FCT, meanwhile, recorded an impressive 70% increase. Ebonyi, though with lower revenue, achieved an astonishing 148% growth. Taraba generated the least revenue, increasing by 6%.

Health

As of October 2024, only nine African countries are certified malaria-free: Egypt, Cape Verde, Tunisia, Algeria, Mauritius, Libya, Morocco, Seychelles, and Lesotho. Egypt and Cape Verde are the newest members of this group. Over 40 African countries remain uncertified, with the continent recording 233 million malaria cases in 2022.

There were 249 million malaria cases globally in 2022, with Africa accounting for 233 million. Nigeria and DR Congo were the highest contributors. Egypt and Cape Verde have been certified malaria-free, joining only seven countries in Africa.

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