Africa’s fintech powerhouse Flutterwave is preparing for a significant expansion into lending after securing a national microfinance banking licence from the Central Bank of Nigeria, marking a major shift in its business model and positioning within the continent’s financial ecosystem. Flutterwave has secured a microfinance banking licence, enabling it to offer deposits, accounts, and direct…
Ghana’s Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, recently disclosed that the West African country is losing $2.5 billon in export value annually. Ghana loses $2.5 billion annually due to exporting mostly raw agricultural produce without value addition. A new national agricultural policy framework has been finalized to improve value addition and is set…
Nigeria has enlisted billionaire-backed power firms in a 3.3 trillion naira ($2.3 billion) debt settlement programme aimed at stabilising Africa’s largest electricity market and unlocking stalled generation capacity in the country’s struggling power sector. Nigeria has launched a $2.1 billion debt settlement programme to stabilise its power sector and unlock stalled generation capacity. The initiative…
Several African and Caribbean nations, including Nigeria and Jamaica, could face tighter entry restrictions to the United Kingdom under a controversial proposal by Reform UK, escalating tensions over growing demands for reparations linked to the transatlantic slave trade. A UK political party has proposed visa restrictions targeting countries demanding slavery reparations, including Nigeria and Ghana.…
Pakistan has begun a two-week counter-terrorism drill with the Egyptian military, indicating a fresh attempt by both countries to improve operational coordination and battle preparation. Pakistan and Egypt have started a two-week counter-terrorism drill in Cherat, Khyber Pakhtunkhwa, Pakistan. Elite troops from both countries’ special forces are participating to enhance operational coordination and preparedness. The…
The Democratic Republic of the Congo has announced plans to begin hosting third-country nationals transferred under United States migration arrangements, marking the latest African country to engage with Washington’s expanding deportation strategy. The Democratic Republic of the Congo (DRC) will temporarily host third-country nationals transferred under US migration agreements. The initiative is described as temporary,…
Europe is facing mounting strain in its relations with the United States, while tensions over the Iran war are testing ties with Middle Eastern partners, exposing cracks within NATO and pushing the bloc to deepen its engagement with Africa as it repositions its global alliances. Growing tensions with the US, especially over NATO and defense…
African countries should increase borrowing, boost domestic revenue, and tap pension and sovereign wealth funds to finance the infrastructure needed to benefit from the artificial intelligence (AI) boom, the United Nations Economic Commission for Africa (UNECA) said. UNECA urges African countries to increase borrowing and boost domestic revenue to finance AI-related infrastructure. Africa currently has…
Confusion has emerged over crude supply allocations to the Dangote Petroleum Refinery, with officials at the facility saying they are unaware of any increase in cargoes reportedly approved by the Nigerian National Petroleum Company Limited (NNPC). There is confusion over whether the Dangote Petroleum Refinery will receive an increased number of crude cargoes from NNPC…
