Economy: Nigeria Tops South Africa As Africa's Biggest Economy
Despite the fact that Nigeria and South Africa account for half of the continent economy GDP and the debate of whose top the continent economy has been varying of recent due to some variable factors.
However, economic reports have it yesterday that South Africa has plunged into recession towards the end of the first quarter of the year.
Report states " Nigeria’s economic growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years in 2019 as oil output increased and the central bank took steps to boost credit growth. GDP in the West African country stood at $476 billion or $402 billion, depending on the rate used.
While for South Africa’s economy, it went the opposite direction because It slumped into a second recession in consecutive years, contracting more than projected in the fourth quarter as power cuts weighed on output and business confidence. For the full year, expansion was 0.2%, the least since the global financial crisis, and even less than the central bank and government estimated. Based on a average rand-dollar exchange rate of 14.43 for the year, GDP was $352 billion."
However, projections shows that Nigeria economy will continue to grow faster.
Racism: White People Strangle Black Men in South Africa for doing this
Undoubtedly, South Africa is still battling with racism at their homeland, and all effort to get rid of the mentality after the apartheid period has not been successful. This is a case yesterday in a video that is trending on social media showing two black teenagers being attacked by several white men in a pool at the Maselspoort Resort and Conference Centre in Bloemfontein, Free State province.According to reports, the black family wanted to spend the day at the So...
Several People Confirmed dead as Gas Tanker Exploded in South Africa
Saturday 24th December 2022 was a sardonic day in the Bolsburg part of South Africa. A gas tanker exploded in the town leaving many dead and several others injured.The gas tanker was said to be passing an under a bridge when its dispenser got hooked unto a metal and a fire was caused by that due to leakage. In a few minutes, great damage was done to the entire residential area.People in vehicles, on the streets and in homes were burnt. It was quite a sad Christmas E...
27 migrants for dead on their way to South Africa
At least, 27 dead bodies of some illegal migrants have been found in Zambia. The deceased were believed to be migrants from Ethiopia, have been "dumped" by the roadside in Ngwerere area north of Zambia's capital Lusaka on their way to South Africa for greener pasture.Police sid tht they likely suffocated to death while in transit, One survivor found "gasping for air" has been rushed to a local hospital, he said.Zambia is a transit point for migrants, mostly from the...
Download Naijacrawl App today
Fastest way to read on the go
Download the Naijacrawl App.