Category: English

Source: APO

African leaders, experts, the African Development Bank (www.AfDB.org) and development partners have called for urgent reforms to strengthen governance, deepen regional integration, and drive inclusive growth across the continent.

Opening the Nigerian Economic Society’s (NES) 66th Annual Conference in Abuja on Tuesday, Nigeria’s Vice President Kashim Shettima stated that Nigeria’s youthful population — on average aged 16.9 years — could either drive prosperity or deepen poverty depending on policy choices.

The 2025 NES conference has drawn more than 2,500 delegates from 22 African countries, including economists, policymakers, academics, and international partners. Discussions are focusing on structural vulnerabilities amid global disruptions ranging from climate change and geopolitical tensions to debt sustainability and demographic pressures.

Comparing India’s $100 billion annual outsourcing industry with Nigeria’s peak oil revenues of $25 billion in 2011, the vice-president urged diversification into knowledge-based sectors.

“Africa’s 1.5 billion people should represent a formidable economic force, yet the continent accounts for just 16 percent of global trade,” Shettima said. “We slept through the first three industrial revolutions. Now in the fourth, Africa stands at a crossroads.”

The continent’s failure to marry politics with sound economic management has left it trailing in global trade and industrial progress, Shettima said, addressing the theme “Rethinking Africa’s Development: Pathways to Economic Transformation and Social Inclusion in a Changing Global Economic Landscape.”

Shettima elaborated on the Nigerian government’s removal of fuel subsidies, exchange rate unification, and tax reforms, conceding the hardship of inflation and high living costs but stressing that investor confidence was returning.

“These are tough times, but the recovery will be permanent,” he said, crediting President Bola Ahmed Tinubu’s administration with showing political will to confront long-ignored structural weaknesses.

Nigeria’s Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, underscored the continent’s financing challenges, noting that individual countries in Europe and Asia carry larger debt markets than Africa as a whole. He called for greater access to capital and more investment in social inclusion and infrastructure.

“Our experience over the past two years shows that bold, even risky, reforms are necessary,” he said. “To reach Nigeria’s goal of a $1 trillion economy by 2030, and to lift Africa as a whole, we must embrace paradigm-shifting policies at all levels.”

In his goodwill message at the opening session of the event, the Director of the African Development Institute at the African Development Bank, Eric Ogunleye, reaffirmed the African Development Bank’s commitment to supporting Africa’s wider development agenda.

He highlighted initiatives such as the Strategic Framework on Key Actions to Achieve Inclusive Growth and Sustainable Development, the Public Service Delivery Index, and specialized training platforms, including the Public Finance Management Academy for Africa and the Macroeconomic Policy Management Academy for Africa.

“These tools are available at no cost to member countries and are designed to accelerate structural transformation and inclusive growth,” he told delegates.

Speaking later on “Rethinking Governance Models in Africa for Sustainable Economic Growth” during a plenary panel session, Ogunleye said governance and leadership remain decisive in separating successful economies from struggling ones.

“Governance is not just an end in itself; it is an economic imperative,” he said. “Where governance is weak, whether overly centralized, fragmented, or reactive, countries fail to respond effectively to shocks.”

Other panelists stressed that Africa’s transformation depends on deeper regional integration. Wale Ogunkola of the University of Ibadan argued that the African Continental Free Trade Area must go beyond tariff reduction to build value chains, boost infrastructure, and integrate services into manufacturing.

 “If you don’t produce, what are you going to trade?” he asked, calling for stronger private sector involvement.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media Contact:
Kwasi Kpodo,
Communication and External Relations
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Source: APO

The Government of Borno State, in collaboration with the African Development Bank (www.AfDB.org) and the International Committee of the Red Cross (ICRC), have convened a partnership roundtable to accelerate access to safe, sustainable, and inclusive water services in Maiduguri.

The event held on Tuesday 10 September, coincided with the first anniversary of devastating floods in Borno, aggravated by the collapse of the Alau Dam, which severely impacted Maiduguri and Jere local government areas.

Borno State, located in Nigeria’s Lake Chad region, has faced over a decade of conflict, displacement, and rapid urban growth. Between 2006 and 2021, Maiduguri’s population more than doubled and is projected to exceed 2.5 million by 2030, placing immense pressure on water infrastructure. Public water systems currently meet only part of the demand, forcing many households to rely on unsafe and costly sources, with women and children most affected.

The roundtable brought together senior representatives from the Borno State Government, the Federal Ministry of Water Resources and Sanitation, AfDB, ICRC, World Bank, Agence Française de Développement, development partners, UN agencies, diplomats, and technical experts.

Mallam Bukar Tijani, Secretary to the State Government of Borno, emphasized the State’s commitment: “Ensuring that every citizen, regardless of location or socio-economic status, has access to safe and affordable water is a top priority for Borno State. We are committed to working with the Federal Ministry of Water Resources and Sanitation, the African Development Bank, ICRC, and other partners to bridge the gap between need and provision through technology, expertise, and sustainable financing.”

Dr. Abdul Kamara, the Bank’s Director General for Nigeria, in his remarks stated: “Water, resilience, and peace are deeply interconnected. Investing in water is central to the African Development Bank’s Strategy for Addressing Fragility and Building Resilience in Africa. Through initiatives like the Inclusive Basic Services Delivery Program and strong partnerships with the Nigerian government and institutions like the ICRC, we are helping northern Nigeria move from recurring crises to a future of stability, resilience, and sustainable development.”

Doris El Doueihy, head of the ICRC Delegation in Nigeria, added: “The humanitarian–development link is not just a concept; it is a lifeline. We must meet urgent needs while investing in long-term resilience to prevent future crises and setbacks to development.”

Joseph Terlumun, Babarinde Segun Mukaila, Director of Water Supply and Support Services representing the Water and Sanitation minister, highlighted the Federal Government’s role: “The Federal Government has developed a National Action Plan to revitalize water supply, sanitation, and hygiene services across the country. As one of the sectors most vulnerable to climate impacts, we must harness innovation and technology to manage our water resources sustainably and ensure access for all Nigerians.”

Over the past decade, the African Development Bank has invested over $805 million in water and sanitation projects across Nigeria, improving access for at least 8 million people. In Borno State, Bank programs have benefited 1.6 million people, including 417 interventions in Maiduguri, enhancing water access, healthcare, education, and livelihoods.

The roundtable concluded with a strong call to action, with the Borno State Government committing to establish a steering committee and work closely with development partners to implement the project. Participants also endorsed the Maiduguri Urban Water Supply Masterplan as the guiding framework for expanding access to safe water and improving resilience. They also agreed that providing safe, reliable, and affordable water for Maiduguri is critical for public health, resilience, and lasting peace across northeast Nigeria.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Nkiruka Ugoh,
African Development Bank Nigeria Country Department
email: media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Source: APO

The African Energy Chamber (AEC) (www.EnergyChamber.org) proudly announces this year’s 20 Under 40 Energy Women Rising Stars, celebrating the visionaries shaping Africa’s energy future. The 20 Under 40 Energy Women Rising Stars represent the full spectrum of the energy industry across Africa – from oil to natural gas and renewables – and have emerged as the drivers of the African energy sector. Representing both public and private companies, these women have demonstrated that their commitment to the industry goes beyond their job scope, to empower others, uplift communities and create lasting change across the African energy sector.

In alphabetical order:

Annie Cyrielle Okouma, Production Chemistry Engineer, SLB – Gabon

Annie Cyrielle Okouma is a trained chemical engineer, working for global technology company SLB in Gabon. Since joining the company, she rose the ranks, starting as a trainee laboratory technician and field engineer and now working as a production chemistry engineer.

Ashanti Kutala Mbanga, Program Manager, SANEDI – South Africa

Ashanti Kutala Mbanga, Project Manager at South African National Energy Development Institution, leads South Africa’s energy efficiency labelling program. She advocates for women and youth inclusion, serving as Vice-Chairperson of the Association for Females in Energy Efficiency.

Carolina Ana da Graça, Business Analyst, Chevron – Angola

Angolan professional Carolina Ana da Graca, a Chevron Angola Business Analyst, holds a degree in maritime transportation. An award-winning researcher, she is pursuing a master’s in transportation planning, specializing in maritime cybersecurity challenges.

Chisom Okolie, Senior Associate, Udo Udoma & Belo-Osagie – Nigeria

Nigerian lawyer Chisom Okolie, Senior Associate in energy and finance, advises multinational clients on complex transactions. Recognized as a Rising Star, she co-authors legal publications and champions women’s advancement in business law.

Elisangela Neto Fernandes, Global Asset Manager: Production Systems, SLB – Angola

Angolan geologist Elisangela Neto Fernandes began offshore as a Field Engineer in 2012. Rising through technical, global coordination and leadership roles, she now manages Surface Production Systems across Angola and Central East Africa.

Fiona Magomere, Power System Control Engineer, Kenya Power & Lighting Company – Kenya

Kenyan engineer Fiona Magomere, Power Systems Control Engineer at Kenya Power & Lighting Company, champions sustainability and clean energy access. A STEM mentor and storyteller, she advocates for collaboration to advance Africa’s inclusive energy transition.

Hunadi Nkabonwa Mahlanyane, Acting Line Manager, Coal & Civil Department, Eskom – South Africa

A trained technician, Hunadi Nkabonwa Mahlanyane is currently the Acting Line Manager in the Coal & Civil Department at South Africa’s state-owned power utility Eskom. Having studied electrical engineering at Witbank Technical College, she now plays a central role within Eskom.

Jakobina Junias, Founding Partner & CEO, Amperra Charging Company – Namibia

Namibian entrepreneur Jakobina Junias, CEO of Amperra Charging Company, pioneers sustainable EV solutions. A University of Namibia graduate, she champions environmental sustainability and innovation, positioning ampperra as a trusted African electric mobility brand.

Jesupelumi Ajibola, Training Business & Service Delivery Manager, SLB – Cameroon

Jesupelumi Ajibola, Training Business & Service Delivery Manager at SLB, is a petroleum engineer with international experience. Holding a master’s from Imperial College London, she has worked for some of West Africa’s leading energy companies.

Joy Nancy Ogechi, Energy and Project Engineer, Kenya Power & Lighting Company – Kenya

Joy Nancy Ogechi, Energy and Project Engineer at Kenya Power, has over seven years’ experience managing development projects. She enhances healthcare, infrastructure, and socio-economic productivity through multilateral and government-financed energy initiatives.

Justina Erastus, Founder, Youth in Oil and Gas Summit – Namibia

Namibian lawyer-in-training Justina Erastus, Founder of the Youth in Oil and Gas Summit, champions youth inclusion. She empowers young professionals through advocacy, education and engagement in Namibia’s evolving energy landscape.

Kavenamuua Kgosiemang, Field Engineer, SLB – Namibia

As Field Engineer at SLB, Kavenamuua Kgosiemang manages operations, data acquisition and reporting for well development projects. Her technical role supports decision-making critical to sustainable, long-term oilfield success.

Keleadile Ruda, Founder, Women in Energy – Botswana

Botswana’s Keleadile Ruda, Co-Founder of Women in Energy, is a solar PV specialist with five years’ experience. She leads projects from design to commissioning while mentoring women and youth in STEM.

Lydia Kapangila, Founder & CEO, Africa Youths in Energy Network – South Africa

Lydia Kapangila, Founder and CEO of Africa Youths in Energy Network, is dedicated to collaboration, sustainable growth and youth empowerment. She drives continental change through business acumen, advocacy and strategic leadership.

Mariah Lucciano-Gabriel, Head: Integrated Gas Ventures, Asharami Energy – Nigeria

Mariah Lucciano-Gabriel, Head of Integrated Gas Ventures at Asharami Energy, is a respected energy leader. With expertise in operations optimization and cross-functional leadership, she drives revenue growth and champions innovative business strategies.

Nancy Murithi, Green Growth & Climate Change Officer, Kenya Association of Manufacturers – Kenya

Nancy Murithi, Green Growth and Climate Change Officer at the Kenya Association of Manufacturers, advances energy efficiency and climate policy. An award-winning trainer and advisor, she empowers organizations and youth across Africa.

Nisia Ingles Pinto, Fluids Construction Engineer, SLB – Angola

Angolan engineer Nisia Pinto, Well Construction Fluids Engineer at SLB, specializes in cementing operations. With strong field expertise, she ensures drilling safety, reliability and innovation across Angola’s oil hubs in Soyo and Luanda.

Ololade Olubi, Division Manager Economics, Oando Energy Resources – Nigeria

Ololade Olubi, Division Manager of Economics at Oando Energy Resources, is a petroleum economist with 12+ years’ experience. She leads project economics, strategy and new ventures, shaping upstream development across Africa.

Rana Badi, CSR Project Lead, TotalEnergies – Libya

Rana Badi, CSR Project Lead at TotalEnergies, has over a decade’s experience in CSR, communications and digital transformation. She leverages dual master’s degrees to drive impactful social investment and sustainability programs.

Yetunde Margret Sorinola, CFO, Egbin Power Plc – Nigeria

Yetunde Margret Sorinola, CFO of Egbin Power Plc, is a governance-focused finance leader in power generation. She specializes in compliance, risk management, tariff modeling and financial stewardship of capital-intensive energy projects.

“The AEC believes that these 20 women represent the future and we look forward to having many more women on the list in years to come. These women are not only recognized for their amazing careers, but for their work and commitment across their respective communities. This is a testament to what happens when women are given opportunities to lead in the industry – going beyond executing their jobs to championing communities and mentoring others to become part of the larger African energy family” stated NJ Ayuk, Executive Chairman, AEC.

Distributed by APO Group on behalf of African Energy Chamber.

Source: APO

Researchers warn of critical losses for grain producers and price increases for consumers worldwide. According to the study “From Farm to Futures: Competition, Financialization, and Digitalization in Global Grain Value Chains” prepared by a group of experts, total losses are estimated at no less than $2.5 billion per year for the main BRICS grain exporters (www.BRICSCompetition.org).

The research findings were presented by the HSE BRICS Competition Law and Policy Centre during the 9th BRICS International Competition Conference held in Cape Town. The study offers an innovative approach to analysis from the perspective of global processes. Traditional antitrust analysis of the grain market has focused primarily on horizontal competition—interaction at the same level of the supply chain. However, to gain a deeper understanding of market dynamics in the BRICS countries, an analysis of vertical competition is being conducted, which involves examining the relationships between different levels of the supply chain, including producers, traders, infrastructure operators, and financial intermediaries—from the field and port to the consumer. Researchers are paying particular attention to the activities of global grain traders through the prism of the economic and technological changes that markets are undergoing today.

According to the authors of the study, the global grain market has long been controlled by an oligopoly of major agricultural traders known as ABCD+ (ADM, Bunge, Cargill, Louis Dreyfus Company + COFCO, Olam, etc.). This concentration of market power, as well as certain structural features of this market, make it vulnerable to price fluctuations and various types of speculative behavior, which negatively affects both grain producers and consumers.

The merger of Bunge and Viterra in one of the world’s most competitive agricultural markets—Canada—has created an empirically sound precedent for assessing the global risks of the new deal. An antitrust investigation conducted in Canada found that the consolidation of control over grain transshipment rates in Vancouver led to a 15% increase in the cost of grain passing through this hub, or a loss of $412 million annually for shipping producers. It is important to note that this is a non-market price increase. A 15% “monopoly markup” on logistics and trading, applied to 20% of the volume, could cost Russia and Brazil an additional $2.5 billion per year.

In addition, the study highlights several key trends that are currently having a direct impact on farmers, consumers and the grain trade worldwide.  Firstly, there is financialisation, i.e. the close integration of financial and trading infrastructure. Secondly, traders’ financial activity is made possible by information asymmetry access to exclusive data that other market participants do not have. Thirdly, there is a new type of interaction co-opetition (cooperation in a competitive environment). Despite the struggle for profit and market share, traders jointly invest in infrastructure and coordinate control of supply chains. The report presents for the first time unique schemes of corporate relations and the participation of strategic investors in the structure of ABCD+ traders’ work and management. In addition, digital platforms such as Covantis and TRACT are already helping ABCD+ traders coordinate economic activity and limit competition from national and regional players often outside the purview of BRICS antitrust authorities.

Researchers suggest that BRICS antitrust authorities could conduct their own large-scale market analysis and use it as a basis for developing coordinated antitrust response measures. Among such measures are structural prescriptions. First and foremost, the report proposes involving the antitrust regulators of the BRICS countries in the design of the BRICS Grain Exchange as a single platform where pricing will be more transparent and, most importantly, hedging mechanisms will be more transparent. The grain exchange has already been initiated by the leaders of the BRICS countries, and if implemented correctly, it could be a step towards reducing price volatility, increasing pricing transparency, and improving the quality of market competition in the global grain market.

Distributed by APO Group on behalf of BRICS Competition Law and Policy Centre.