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Category: Africa

  • Afreximbank pushes digital integration at African Finance Ministers’ Conference

    Afreximbank pushes digital integration at African Finance Ministers’ Conference

    TANGIER, MOROCCO, 2 April 2026 (NPA) — The African Export-Import Bank (Afreximbank) this week joined African leaders at the 58th Session of the Economic Commission for Africa and Conference of African Ministers of Finance, Planning and Economic Development in Tangier, Morocco, advancing solutions to scale Africa’s digital and innovation economy.

    Speaking during a panel on “Financing Africa’s Digital and Innovation Economy,” Afreximbank Executive Vice President, Global Trade Bank, Mr. Haytham ElMaayergi, stressed that Africa’s challenge is not the absence of capital, but how that capital is structured and deployed.

    He underscored the need to move from fragmented efforts to integrated digital systems, positioning digital public infrastructure — including broadband, data systems, digital identity and payments — as foundational to economic growth.

    Afreximbank is driving this agenda through platforms such as the Africa Trade Gateway and PAPSS, which enable seamless cross‑border trade, reduce transaction costs, and strengthen connectivity across African markets.

    The priority now, ElMaayergi said, is to scale these systems, mobilise institutional capital, and build fully integrated digital markets that support trade, innovation and long‑term transformation across the continent.

  • South Africa welcomes Chinese investment to boost economic development

    South Africa welcomes Chinese investment to boost economic development

    AFRICA, 2 April 2026 (Agency Report) — South Africa has welcomed fresh investment pledges from Chinese firms, with Trade, Industry and Competition Minister Parks Tau highlighting the potential to strengthen economic ties and drive industrialisation.

    Speaking to the media during the sixth South African Investment Conference (SAIC) at the Sandton Convention Centre in Johannesburg on Tuesday, Tau said the country anticipates “stronger investment ties with China.” He noted that Chinese investment would support South Africa’s industrialisation agenda and contribute significantly to economic growth.

    The minister confirmed that South Africa is working with China to finalise early harvest arrangements under the Framework Agreement on Economic Partnership for Shared Development. He also praised China’s decision to grant zero-tariff treatment to 53 African countries from 1 May, describing duty-free and quota-free access to the Chinese market as “a great opportunity” for South African products.

    Since its launch in 2018, SAIC has served as a key platform for attracting domestic and foreign investment, promoting industrial development and supporting economic growth. President Cyril Ramaphosa told delegates that the conference provides an opportunity to showcase South Africa’s investment potential and connect investors with concrete projects.

    This year’s edition drew more than 1,000 delegates from over 50 countries and regions, underscoring the country’s ambition to deepen cooperation and expand investment partnerships.

  • Amina Mohammed brings UN Women leaders together to champion equality and multilateralism

    Amina Mohammed brings UN Women leaders together to champion equality and multilateralism

    INTERNATIONAL, 2 April 2026 (NPA) — United Nations Deputy Secretary-General Amina J. Mohammed has united senior women leaders in a powerful call to defend multilateralism and advance gender equality at a time of mounting global challenges.

    The meeting, now in its fifth year, reaffirmed the UN’s commitment to women’s rights, the Sustainable Development Goals and the principles of the UN Charter. Convened against a backdrop of economic volatility, rising inequality and growing pressure on hard-won freedoms, participants stressed that gender equality is not only a human rights imperative but also the foundation of sustainable development, peace and inclusive prosperity.

    Women leaders underscored the decisive role of female leadership in building fairer, more peaceful societies. They identified the urgent removal of systemic barriers across political, economic and social spheres as a critical priority. With first-hand experience of today’s intersecting crises, the leaders focused on practical policies and solutions to address the world’s most pressing challenges.

    Discussions ranged from the 2030 Agenda for Sustainable Development to artificial intelligence, philanthropy, financing human dignity and the state of multilateralism. The gathering also featured meaningful engagement with youth, whose perspectives highlighted the importance of intergenerational collaboration.

    The event concluded with a unified call to action: protect multilateralism, increase investment, and elevate women’s leadership to the highest levels of decision-making.

  • INEC deletes Senator David Mark and others from its portal as ADC leaders, awaits court ruling

    INEC deletes Senator David Mark and others from its portal as ADC leaders, awaits court ruling

    ABUJA, NIGERIA, 01 April 2026 (NPA) — The Independent National Electoral Commission (INEC) has reaffirmed its commitment to neutrality and strict compliance with judicial directives in the ongoing leadership tussle within the African Democratic Congress (ADC).

    In a statement signed by National Commissioner Mohammed Kudu Haruna, Chairman of the Information and Voter Education Committee, INEC addressed the Court of Appeal’s ruling in Appeal No. CA/ABJ/145/2026 between Senator David Mark and Hon. Nafiu Bala Gombe. The Commission noted that it had received conflicting letters from legal representatives of both parties, each demanding recognition of their client as the rightful leader of the ADC.

    The Court of Appeal, in its judgment delivered on 12 March 2026, dismissed Senator Mark’s interlocutory appeal and ordered all parties to maintain the status quo ante bellum pending the determination of the substantive suit before the Federal High Court. The court also directed an accelerated hearing of the case and warned against actions that could prejudice proceedings.

    INEC explained that the ADC’s National Working Committee, led by Senator Mark, was uploaded to its portal in September 2025, shortly after the suit was filed. However, in compliance with the appellate court’s preservatory orders, the Commission has resolved to remove those names and refrain from recognising or engaging with either faction until the Federal High Court delivers its judgment.

    The Commission further stated it will not monitor or acknowledge any meetings, congresses, or conventions convened by the party during the pendency of the case, stressing that doing so could undermine judicial processes.

    INEC concluded by urging political parties and stakeholders to act responsibly and avoid jeopardising preparations for the 2027 General Election, reiterating its unwavering commitment to impartiality and respect for the rule of law.

  • South Africa slashes fuel levy to ease price rise on citizens

    South Africa slashes fuel levy to ease price rise on citizens

    AFRICA, 01 April 2026 (NPA) — In a decisive move to shield South Africans from surging global energy costs, the National Treasury and the Department of Petroleum and Mineral Resources (DMPR) have announced a temporary R3 cut to the general fuel levy.

    Effective immediately, the levy on petrol drops from R4.10 to R1.10 per litre, while diesel falls from R3.93 to R0.93. Officials say the measure will provide motorists with urgent relief while safeguarding the stability of the country’s fuel supply system.

    The Finance Minister emphasised that the decision balances consumer welfare, particularly food and transport inflation, with fiscal objectives. The one‑month reduction is expected to cost R6 billion in foregone revenue and will be reviewed monthly for the next two months.

    Without the cut, April’s fuel price hikes would have been steeper: petrol up R3.06 per litre, diesel rising more than R7, and paraffin climbing by over R11 wholesale. The DMPR stressed that paraffin pricing excludes levies and taxes, a deliberate policy to protect low‑income households.

    Authorities assured the public that national fuel stocks remain sufficient, with reported shortages linked to localised panic buying and logistical bottlenecks. Citizens are urged to avoid unnecessary stockpiling and purchase responsibly to prevent further strain on distribution networks.

    The government reiterated its commitment to protecting vulnerable households, promising further targeted measures to cushion the poor from high energy costs. Officials added that work is underway on a broader package of interventions to support households and key sectors of the economy, with details to be announced soon.

  • AU’s Africa Urban Forum 2 to convene in Nairobi to advance housing and Agenda 2063

    AU’s Africa Urban Forum 2 to convene in Nairobi to advance housing and Agenda 2063

    AFRICA, 01 April 2026 (NPA) — Under the theme “Adequate Housing for All: Advancing Socio-economic and Environmental Transformation towards the Realisation of Agenda 2063,” the Africa Urban Forum (AUF) will take place from 8–10 April 2026 in Nairobi, Kenya.

    The AUF is a continental platform established by the African Union to foster dialogue and coordination on sustainable urbanisation and human settlements. It brings together political leaders, policymakers, local and regional governments, development partners, the private sector, academia, civil society, and other stakeholders to address Africa’s urban challenges and opportunities.

    The African Union Specialised Technical Committee on Public Service, Local Governments, Urban Development and Decentralisation (AU-STC No. 8), at its Fourth Ordinary Session in Cairo in August 2022, resolved to establish the AUF as a dedicated platform for advancing Africa’s urban agenda.

    The Forum provides space for shaping a shared urban vision, promoting policy coherence, and strengthening institutional collaboration among Member States. It enables the exchange of knowledge, experiences, best practices, and innovations that support sustainable urban development across the continent.

    Anchored within the mandate of AU-STC No. 8, the AUF aligns with continental and global frameworks, including Agenda 2063: The Africa We Want, the Sustainable Development Goals, and the New Urban Agenda. Through this platform, African countries consolidate positions on key urban issues and articulate common perspectives in global policy processes.

    The inaugural Africa Urban Forum (AUF1) was held in Addis Ababa, Ethiopia, from 4–6 September 2024. The upcoming AUF2 in Nairobi builds on those outcomes, aiming to strengthen dialogue and coordination on Africa’s urban development priorities while advancing housing and socio-economic transformation across the continent.

  • Afreximbank Secures $4bn Financing for Dangote Refinery

    Afreximbank Secures $4bn Financing for Dangote Refinery

    LAGOS, NIGERIA, 01 April 2026 (NPA) — The African Export-Import Bank (Afreximbank) has underwritten US$2.5 billion of a US$4 billion senior syndicated term loan in favour of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).

    Afreximbank and Access Bank acted as co-Mandated Lead Arrangers for the five-year facility, designed to consolidate existing financing, optimise capital structure, and align with the refinery’s operational status and long-term growth plan.

    The transaction represents a major milestone for DPRP, Africa’s largest refinery and petrochemical complex, with a capacity of 650,000 barrels per day. The facility will enhance balance sheet flexibility, strengthen financial resilience, and support the refinery’s role as a strategic supplier of refined petroleum products to Africa and global markets.

    Afreximbank’s US$2.5 billion share is the largest in the syndicate, underscoring its leadership in mobilising capital to drive Africa’s industrialisation, promote intra-African trade, and bolster energy security. Since refining operations began in February 2024, the Bank has provided a US$1 billion working capital facility and acted as Financial Adviser on the Naira-for-Crude initiative, which enables crude purchases and refined product sales in local currency.

    Speaking in Cairo, Afreximbank President Dr George Elombi said: “We take immense pride in being the single largest provider of financing to the Dangote Group. When we invest in ourselves, we build a secure and resilient future for our continent.” He noted that Afreximbank has invested about US$15 billion in the Dangote Group since 2015.

    Aliko Dangote, President and Chief Executive of Dangote Industries Limited, described the financing as “an important step in strengthening the financial foundation of Dangote Petroleum Refinery & Petrochemicals and positioning the business for the next phase of growth.”

    The syndicated loan attracted strong interest from African and international financial institutions, reflecting confidence in the refinery as a transformative industrial asset and in Africa’s broader industrialisation agenda.

  • South Africa targets $118B at landmark investment conference

    South Africa targets $118B at landmark investment conference

    AFRICA, 31 March 2026 (SA News Agency ) — The South Africa Investment Conference (SAIC) has opened in Sandton, with the government targeting R2 trillion ($118B) in new commitments.

    The Sandton Convention Centre is abuzz as delegates arrive for the sixth edition of SAIC, South Africa’s flagship platform to position itself as a credible, competitive investment destination. More than 1,200 delegates are expected, including Cabinet Ministers, business leaders and global investors.

    Held under the theme ‘Invest. Partner. Prosper’, the conference brings together government, investors, development finance institutions and strategic partners to advance investment-led growth and strengthen South Africa’s role as a gateway into Africa. The event aligns with commitments made by President Cyril Ramaphosa in the 2026 State of the Nation Address, setting a more ambitious medium-term investment target.

    SAIC is structured to move from reform credibility to investor confidence, aligning domestic priorities with international interests. Presidential spokesperson Vincent Magwenya noted that investment mobilisation is continuous, with international delegations recognising South Africa as a viable business destination.

    The 2026 conference marks a shift from planning to implementation, as the government accelerates delivery on existing commitments. An additional R2 trillion in pledges is targeted over the next five years, building on R1.5 trillion secured at previous conferences, of which R600 billion has already been invested. These investments have supported new factories, mines and industrial facilities, contributing to job creation and poverty reduction.

    Under the “3Ds” framework — Digitisation, Decarbonisation and Diversification — the conference highlights opportunities in technology, clean energy and expanded trade. It also launches South Africa’s Second Investment Drive, aligned with the priorities of the 7th Administration: inclusive growth, employment, infrastructure and reform.

    Launched in 2018 by President Ramaphosa, SAIC has become central to attracting investors. The 2026 edition takes place amid improved confidence, supported by progress in structural reforms, enhanced energy reliability and broader recovery initiatives. – SAnews.gov.za

  • Adesina applauds Zewde’s Forbes lifetime award as Africa’s beacon of hope

    Adesina applauds Zewde’s Forbes lifetime award as Africa’s beacon of hope

    AFRICA, 31 March 2026 (NPA) — Dr Akinwumi A. Adesina, former President of the African Development Bank Group, has congratulated Sahle-Work Zewde, Ethiopia’s first woman and fifth President, on receiving the Forbes Woman Africa Lifetime Achievement Award at the 2026 Forbes Woman Africa Awards.

    Adesina, in a statement on Tuesday, praised Zewde as an exemplary leader, describing her as a passionate and devoted pan-Africanist, a beacon of hope, and a builder of peace and unity across the continent. 

    Zewde was presented with the Lifetime Achievement Award on 24 March 2026 at the 11th annual Leading Women Summit in Johannesburg. The honour recognised her trailblazing leadership, historic role as Ethiopia’s first female head of state, and her lifelong dedication to diplomacy, peacebuilding, and the advancement of women’s rights. The summit, held at the Sandton Convention Centre to coincide with International Women’s Day, brought together influential leaders, innovators, and policymakers from across Africa, underscoring the importance of women’s leadership in shaping the continent’s future.

    The recognition highlighted Zewde’s enduring impact on governance and gender equality, cementing her legacy as one of Africa’s most influential female leaders. Her achievement stands as an inspiration for future generations of women determined to break barriers and contribute to Africa’s political, social, and economic transformation.

  • African Union convenes Fifth Session on Tax and Illicit Financial Flows in Abuja

    African Union convenes Fifth Session on Tax and Illicit Financial Flows in Abuja

    ABUJA, NIGERIA, 31 March 2026 (NPA) — The African Union has convened the Fifth Session of the Sub-Committee on Tax and Illicit Financial Flows (IFFs) in Abuja, Nigeria, under the theme “Building the Africa We Want Through Tax and Fiscal Policy Reforms to Support Economic Growth and Domestic Resource Mobilisation.”

    The meeting, taking place from 31 March to 2 April under the framework of the Specialised Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration (STC-FMAEPI), comes at a crucial moment as Africa intensifies efforts to finance its own development and strengthen the resilience of its economies. It serves as a strategic continental platform for action-oriented dialogue and policy alignment, bringing together Member States, Pan-African institutions, and key partners to strengthen tax systems, curb illicit financial flows, and advance domestic resource mobilisation (DRM) as a cornerstone of sustainable growth.

    Anchored in the implementation of Agenda 2063: The Africa We Want, the Fifth Session builds on the momentum of the Fourth Sub-Committee on Tax and IFFs and the Eighth Ordinary Session of the STC-FMAEPI held in Johannesburg in September–October 2025. Delegates are expected to consolidate African positions, share practical experiences, and shape collective responses to evolving global and continental tax reforms.

    Hosting the session in Abuja provides Nigeria, through the Nigeria Revenue Service (NRS), with an opportunity to contribute to continental dialogue on tax administration reforms and DRM strategies. It also reinforces collaboration among African tax administrations and institutions in tackling illicit financial flows and strengthening fiscal frameworks.