NEMA launches relief effort after floods in Mokwa kill about 200 people Floods displace 3,000, damage infrastructure, and devastate local agriculture Food insecurity worsens as farmland is submerged and crops destroyed In response to the devastating floods that struck Mokwa in Niger State in May 2025, Nigeria’s National Emergency Management Agency (NEMA) began distributing...

BCEAO grants extra time for payment service providers to get licensed by August 31, 2025 Only licensed firms will be allowed to operate from September 1 across the WAEMU region Fintechs are the main targets of the new rules aiming to secure the digital finance space The Central Bank of West African States (BCEAO) has once again extended the deadline for payment service providers to...

President John Mahama unveils nationwide industrialization campaign to boost economic growth Plan supports the "24-Hour Economy Policy" through manufacturing and agri-food expansion Cashew sector prioritized; AfDB backs transformation through infrastructure and entrepreneurship Ghanaian President John Dramani Mahama has launched a national industrialization campaign aimed at...

Africa’s cross-border payments market is expected to grow from $329 billion in 2025 to $1 trillion in 2035 Growth is driven by digital payment channels, mobile money, and fintech-led cost reductions Regulatory gaps, high fees, and fragmented systems still weigh heavily on the market Africa’s cross-border payments market is on track to more than triple over the next...

Roads in Kenge, Kikwit, Tshikapa, Kamuensha, and Mbuji-Mayi have been completely rehabilitated, new stretches of road built, and urban roads modernized. Numerous examples of socioeconomic infrastructure have also benefited from the financial support of the African Development Bank Group, helping to transform the daily lives of hundreds of thousands of Congolese. A multi-sectoral mission from the...

• IFC to guarantee 50% of FirstRand’s $100M SME lending program• Focus on women-led and climate-related businesses under 60M rand turnover• Initiative aims to ease access to credit through simplified procedures South Africa’s FirstRand Bank will lend up to 1.8 billion rands ($100 million) to small and medium-sized enterprises (SMEs), backed by a $50 million partial guarantee...

• Mali secures majority ownership in refinery built with Russia’s Yadran• Facility to process up to 200 tons of gold per year• Project aims to boost local value creation in the mining sector The government of Mali will hold a 62% stake in the country’s first national gold refinery, according to a decree adopted by the Council of Ministers on May 28, 2025. The project, developed in...

• UBA Group expands asset management arm to Abidjan with UCAMWAL• Subsidiary to offer diversified investment solutions beyond Nigeria• Strategy aims to tap into growing West African demand for financial products United Bank for Africa (UBA), led by Nigerian businessman Tony Elumelu, has launched a new asset management subsidiary in Côte d’Ivoire as part of its regional expansion. The...

• CcHub and Mastercard Foundation launch third EdTech Fellowship cohort• 12 startups selected, including 6 led by women, receive up to $100,000 each• Focus on offline, AI-driven, and scalable tools for inclusive education Co-Creation Hub (CcHub), in partnership with the Mastercard Foundation, has announced the third cohort of its EdTech Fellowship program, aimed at advancing equitable...

• Uganda to secure €500M from Afreximbank, Ecobank, and DBSA for infrastructure• Rising domestic costs and limited concessional funding drive borrowing shift• Public debt reached $29.1B by end-2024, up 18% year-on-year Facing rising domestic borrowing costs and reduced access to concessional loans, Uganda plans to borrow €500 million ($567 million) from three regional...