Over the past decade, Africa has seen about 18,700 high-net-worth individuals leave the continent. They left due to falling local currencies and weak stock markets. Countries like Nigeria, Egypt, Angola, and Zambia have seen significant currency declines against the dollar. For example, from 2013 to 2023, the South African rand dropped 43% against the US […]
Related Posts
Brazil Expands Oil Reserves to Highest Level Since 2015
In 2023, Brazil recorded its highest oil reserves since 2015, achieving 15.9 billion barrels. This 7% increase over last year is significant. It marks the country’s largest reserve since the 16.2 billion barrels in 2014. These gains are largely due to new discoveries in the pre-salt layers. Environmentalists argue these existing reserves are ample for […]
Chile to Host World’s Largest Battery Storage Plant
Grenergy, a Spanish developer, has unveiled a $2.6 billion investment plan for 2023-2026, focusing on renewable energy. This includes constructing the world’s largest battery storage power plant in Chile, named Oasis de Atacama. The project will enhance Chile’s role in renewable energy significantly. The company plans to allocate $1.5 billion for photovoltaics and $800 million […]
Wine Industry Faces Historic Production Decline Amid Changing Demand
The global wine industry is navigating a significant downturn, with production reaching a 60-year nadir, signaling deep concerns for producers. Highlighted by the South China Morning Post, this decline persists despite a surplus, suggesting demand is falling even more rapidly. The World Wine Organization has observed that wine consumption has not kept pace with production […]