10 African Largest Economy

economic growth africa

Nigeria is still the economic leader in Africa with a GDP of $511 billion, throwing Egypt and South Africa to the second and third position at $436 billion and $426 billion respectively. In the latest 50 largest economies in the World which recently surpassed the $100 trillion mark, only three African countries – Nigeria, Egypt, … Read more

Advantages of Mutual Fund Investing

investing mutual funds

The investing world is a very broad and versatile one where investors employ different techniques and methods to maximize their investments as much as possible. However, while risks are always part of the game, investors are usually interested in minimizing risks to the barest level. This is one pathway that birthed mutual funds – the … Read more

List of Central Banks In Africa Along With The Year Each Was Established

central banks in Africa

There are 41 central banks in Africa. While each of the independent countries has an apex bank of its own, two currency unions are associated with multinational central banks. The multinational apex banks are: West African Banque Centrale des États de l’Afrique de l’Ouest (BCEAO) and the Central African Banque des États de l’Afrique Centrale (BEAC). The members of BCEAO and … Read more

5 Basic Economic Problems of a Country

basic economic problems

There are basic economic problems every economy faces. Definitely, there will be the availability of limited resources. Human wants are insatiable that’s one of the reasons scarcity arises. Let’s assume that there are more than enough resources, the economic problem would not probably arise. But the study of economics makes us understand that there will always be … Read more

Understanding Inflation: Types, Causes and Example

Inflation and its types

What is inflation? The most popular definition of inflation is, “an increase in the average level of prices”. Specifically, inflation is a condition whereby supply persistently fails to keep pace with the expansion of demand. Simply put, inflation is a state of disequilibrium in which too much money is chasing a few goods. The opposite … Read more

Economics and Its Importance

importance of Economics

Definitions of Economics Economics is the act of creating wealth and the management of such wealth in the long term. To some people, economics is the study of scarcity. Men will have to manage the available resources within their reach or choose between the competing alternatives. It is the study of wealth for human satisfaction i.e how money … Read more

Concept of Price Floor

price floor for goods and services

Price floor is a price control mechanism employed by the government, institutions or companies on how low the price of a product or service can be. Simply put, the lowest price in the price band is called the price floor. The opposite of this economic jargon is cap price (price ceiling) which is the highest … Read more

Sources of External and Internal Finance

Business Finance InfomediaNG

An origin or financing method refers to the amount of money a company uses to fund its operations. A company can get money from various sources. The sources could be divided into two major categories: 1) internal, 2) external. Whatever the sources are, the main goal is to meet financial needs. Internal sources of finance … Read more

5 Ways To Make Money From eNaira

How to Send eNaira Coin from Your Bank Account infomediang business solutions

Since the Central Bank of Nigeria (CBN) announced the launch of a digital currency dubbed “eNaira” which is known as Central Bank Digital Currency (CBDC), Nigerians expressed mixed reactions to the project. While some Nigerians praised it, some berated the apex bank for coming up with such an idea as having “ban” trading of cryptocurrency … Read more

20 Benefits of eNaira To Businesses and Individuals in Nigeria

eNaira-CBN-digital-currency

The ban on cryptocurrency by the Central Bank of Nigeria (CBN) on February 5, 2021, gave millions of Nigerians the push to further explore the financial possibilities of digital currencies. Although cryptocurrency which is backed by blockchain technology has been in existence since 2009, when the unknown Satoshi Nakamoto claimed to have invented it, the … Read more