Aruwa Capital Secures $35M in Second Close of Fund II
Aruwa Capital Management, a Lagos-based, female-led venture capital firm, has raised $35 million in the second close of its Fund II, reaching 90% of its $40 million target. The fund focuses on early-stage investments in sectors such as healthcare, energy access, financial services, and consumer goods in Nigeria and Ghana. Notable investors include British International […]
Afreximbank Launches $3B Plan to Boost Intra-African Oil Trade
The African Export-Import Bank (Afreximbank) has introduced a $3 billion financing initiative aimed at unlocking up to $14 billion in intra-African oil trade. The program seeks to harness Africa’s emerging refining capacity to reduce reliance on imports and foster regional commerce. Despite abundant crude reserves, African nations continue importing refined oil from countries like India […]
Africa’s Debt Crisis Spurs Reform Calls and Financial Safety Net
Africa’s escalating debt, surpassing $1.8 trillion, has prompted leaders to propose the African Financing Stability Mechanism (AFSM), modeled after Europe’s stability fund. Angola, chairing the African Union in 2025, is spearheading this initiative to mitigate liquidity crises from external debt repayments, projected at $10 billion annually through 2033. The AFSM aims to refinance debt, with […]
Nigeria’s Economic Revival Attracts Renewed Private Capital Investment Interest
Nigeria is regaining investor confidence as private capital returns, driven by recent economic reforms and sectoral growth. The African Private Capital Association’s annual conference in Lagos highlighted this shift, with Abi Mustapha-Maduakor noting a positive turn after previous downturns. Venture capital activity is surging, particularly in fintech, e-commerce, and AI, with Nigeria leading West Africa […]
US-Led Congo-Rwanda Peace Pact Tied to Lucrative Mineral Deals
The United States is pushing for a Congo-Rwanda peace accord that is directly tied to major economic incentives—specifically, new bilateral mineral deals. These agreements aim to unlock billions in Western investment in Congo’s vast reserves of critical minerals, vital to the global energy transition. The deals would formalize supply chains for materials like cobalt and […]
Washington Halts $300 Million Lesotho Development Project Amid Aid Suspension
The United States has moved to shut down the Millennium Challenge Corporation’s (MCC) $300 million Lesotho Health and Horticulture Compact, a project aimed at benefiting approximately 2.5 million people over the next 20 years. The compact included initiatives to improve primary healthcare, enhance food production, and support small businesses, particularly those owned by women and […]
Meta Threatens Nigeria Exit Over $290M Fines
Meta may shut down Facebook and Instagram in Nigeria after being fined over $290 million by three Nigerian regulatory bodies. The penalties stem from alleged anti-competitive practices, unapproved advertising, and violations of data privacy laws. A federal high court upheld the fines, giving Meta until the end of June to comply. The company objects especially […]
Zambia, Zimbabwe Revive $5B Dam Plan with Congo Water Bid
Zambia and Zimbabwe are intensifying efforts to revive the $5 billion Batoka Gorge hydropower project by courting investors and reconsidering a controversial plan to divert water from the Congo River. The 2,400 MW project, delayed since 2020, faces steep financing challenges due to both countries’ debt crises. A new bidding round is expected by September […]
Royal Air Maroc, China Southern Forge Air Corridor Linking Continents
Royal Air Maroc and China Southern Airlines have signed a memorandum of understanding to deepen cooperation and establish a direct “air corridor” between China and Africa. The partnership aims to simplify travel, bypassing traditional connections through Europe or the Middle East. It includes a code-sharing agreement, cargo and passenger resource coordination, and third-party service collaboration. […]
Cheap Chinese Exports Threaten Nigerian Entrepreneurs Amid Trade War Shifts
US-China tariff tensions risk flooding Nigeria with cheap Chinese goods, undercutting local entrepreneurs. Sectors like textiles, furniture, footwear, and cosmetics—key to Nigeria’s job creation and GDP—could suffer as Chinese firms redirect exports. Nigerian businesses face structural challenges: weak infrastructure, high inflation, volatile exchange rates, and limited access to affordable finance. These issues reduce competitiveness and […]
