Egypt: Release people detained over expressing support for Gaza March

Source: APO – Report:

.

Egyptian authorities must unconditionally and immediately release anyone detained solely for expressing solidarity with Palestinians in Gaza amidst Israel’s ongoing genocide, including at least seven Egyptian nationals detained for expressing support for the Gaza March, Amnesty International said today. The organization is also calling on the authorities to investigate allegations of torture and other ill-treatment related to the arrests and deportations of international activists in connection with the planned solidarity march.

Hundreds of international activists travelled to Egypt in June to take part in a global march to the city of Rafah in a bid to break Israel’s illegal blockade on the occupied Gaza Strip, but Egyptian authorities responded by arresting scores of Egyptian and foreign nationals and deporting non-Egyptians.  

Amnesty International documented the arbitrary detention, incommunicado detention, and ill-treatment of three Egyptians and five foreign nationals in connection with the Gaza March between 10 and 16 June. Amnesty International obtained a testimony that at least one Egyptian national was subjected to torture during their detention. The organization is calling for all those still being held solely for expressing solidarity with Palestinians to be unconditionally and immediately released, including those detained for expressing solidarity with Palestinians since October 2023.

“The world has seen a glimpse of the brutality that Egyptian authorities continue to inflict on dissidents. The arbitrary arrests and ill-treatment that these activists have been subjected to represents just a fraction of the ongoing repression faced by virtually anyone who expresses views not condoned by the government,” said Mahmoud Shalaby, Egypt and Libya Researcher at Amnesty International.  

“It is unthinkable that Egyptian authorities are arresting and punishing activists for showing solidarity with Palestinians in Gaza while Israel is committing genocide against them. Egypt’s authorities should instead be facilitating the right to peaceful assembly and expression, starting by releasing anyone arbitrarily detained for demonstrating in solidarity with Palestinians and investigating all allegations of torture and other ill-treatment.”  

On 11 June, the Egyptian Ministry of Foreign Affairs said in an official statement that foreign nationals must receive prior authorization to visit areas bordering Gaza through, among other means, submitting a request to Egyptian embassies. Organizers of the Gaza March told Amnesty International that they had submitted authorization requests to over 30 Egyptian embassies abroad, approximately two and a half months ahead of the march’s scheduled date. Embassy officials informed them that the requests had been forwarded to authorities in Cairo, but the organizers never received a response. 

Egyptian security forces later shut down the march by arresting Egyptian and foreign activists upon their arrival at the airport, from hotels or at checkpoints on the way to Rafah, before deporting hundreds of non-Egyptians. 

Arbitrary detention and torture or other ill-treatment of Egyptian nationals 

According to a lawyer at the Egyptian Commission for Rights and Freedoms (ECRF), between 10 and 12 June 2025, security forces arrested three Egyptian nationals (two men and one woman) from their homes in Cairo and al-Sharkia governorates. The three were part of a Telegram group that supported the Gaza March. 

Upon their arrest, they were reportedly held in incommunicado detention at undisclosed National Security Agency (NSA) facilities for periods ranging from nine to ten days. NSA agents then brought the three to the Supreme State Security Prosecution (SSSP) in Cairo on 21, 22, and 23 June.  

SSSP prosecutors accused them of charges including “joining a terrorist group [the Muslim Brotherhood],” “publishing false news,” and “funding a terrorist group,” according to the ECRF lawyer. Prosecutors then ordered their pretrial detention for 15 days pending investigations. 

During the SSSP questioning, one of the men said that NSA agents had subjected him to electric shocks on his hands and a sensitive part of his body, and beat him with kicks and slaps to the face. The other man told the prosecutor that NSA agents beat him and forced him to strip naked. These acts constitute ill-treatment and may amount to torture. 

In June, SSSP prosecutors questioned four other Egyptian nationals (three men and one woman) and ordered their detention for 15 days in connection with the same charges pending the same case, according to ECRF’s lawyer. 

Arbitrary arrest and ill-treatment of foreign nationals 

Amnesty International spoke to five foreign nationals who had travelled to attend the Gaza March including Stefanie Crisostomo, a Croatian-Peruvian activist, and Saif Abukeshek, a Spanish national and the Gaza March spokesperson. They told Amnesty that Egyptian police subjected them to severe beatings and other acts of violence when they arrested them. They also said that they had been held in incommunicado detention in police stations, NSA facilities, and Cairo Airport.  

Crisostomo told Amnesty International that on 14 June, plain-clothed NSA agents arrested her and her husband at a hotel in Cairo without providing any reason or allowing them to contact their embassies or anyone else after confiscating their phones. They were then transferred to an undisclosed security facility, where police detained her French husband for 30 hours, while transferring Stefanie to Cairo Airport. At the airport, she refused to be deported until the police released her husband. The police then handcuffed her and grabbed her arms tightly, causing bruising. Amnesty International reviewed photographs of her arms in which the bruises are clearly visible and is concerned that this may amount to ill-treatment. 

One of the other foreign nationals, who chose not to disclose his nationality, said that on 13 June police arrested him, along with approximately 15 others, at a checkpoint in Ismailia Governorate on their way to Rafah. During the arrest, police beat him with batons, striking him on his face and neck. He said that during the arrest, one of the police officers attempted to put their finger in his anus. Police took the group to an Ismailia police station and detained them until the following morning, before transferring him to Cairo Airport for deportation. 

The two other men, both Norwegians, as well as Saif said that on 16 June, plain-clothed police arrested them at a coffee shop in Cairo without showing a warrant. The police then blindfolded them and drove them to an undisclosed security facility in an unmarked van. NSA officers questioned the two Norwegian men, while still blindfolded and handcuffed, about the number of participants in the Gaza March, their identities, and their accommodation. One of the men told Amnesty International that when he refused to answer, an NSA agent slapped him twice on the face and kneed him in the chest. According to the man, the blow caused a minor rib fracture. 

The second man said that when he refused to answer certain questions an NSA agent slapped him on the face and kicked him in the chest.  

Saif Abukeshek said that police deliberately slammed his body into walls and doors while moving him between different rooms at the facility, blindfolded and handcuffed with his hands behind his back. “I could clearly hear them laughing at me crashing into the walls,” he said. 

The three were later transferred to Cairo Airport to be deported after spending between two to 25 hours at the facility. None of the four men were allowed at any point to contact their embassy or anyone else to inform them about their arrest, until their deportation.

– on behalf of Amnesty International.

East African Community (EAC) and Intergovernmental Authority on Development (IGAD) Unite to Break Barriers in Cross-Border Digital Payments

Source: APO – Report:

.

The East African Community (EAC) and the Intergovernmental Authority on Development (IGAD) have taken a significant step towards regional financial integration, with the convening of a five-day workshop on payment systems interoperability. The IGAD-EAC-World Bank Joint Workshop, convened from 30th June to 4th July, 2025 in Addis Ababa, Ethiopia, brought together Central Banks, digital finance experts, and senior policymakers from nine countries with a focus on advancing harmonised legal, regulatory, and supervisory frameworks that will enable faster, safer, and more inclusive cross-border payments across the Eastern Africa region

The workshop was organised under the Eastern Africa Regional Digital Integration Project (EARDIP), a flagship initiative jointly implemented by IGAD and EAC, with support from the World Bank. The EARDIP’s mission is to boost regional digital market integration by expanding broadband infrastructure and strengthening the environment for cross-border digital services, including digital payments, a critical enabler of trade, remittances, and financial inclusion.

At the heart the Addis Ababa discussions was a shared regional challenge of fragmented and non-interoperable payment systems that undermine economic potential. While countries like Kenya, Tanzania, and Ethiopia have made strides in domestic interoperability, regional integration remains stifled by gaps in regulations, technical disparities, and cybersecurity concerns. Against this backdrop, the workshop provided a platform for technical learning, peer-to-peer exchange, and collective visioning.

In his opening remarks, Dr. Mohyeldeen Eltohami, Director of Economic Cooperation and Regional Integration, IGAD, emphasised that the workshop was not merely a technical convening but a launchpad for transformation. “The collaboration between EAC and IGAD exemplifies the spirit of regional solidarity and shared ambition that Africa needs to build the future it envisions, a future of seamless digital integration, inclusive prosperity, and economic transformation,” he said.

The Director urged participants to seize the opportunity to build a harmonised regional framework and to let cooperation, not fragmentation, define the region’s digital future.

“Digital transformation is no longer a choice but a necessity. Together, IGAD and EAC can build a digitally integrated Eastern Africa, where borders no longer limit opportunity, and where innovation drives inclusion, and prosperity is shared,” said Dr. Eltohami.

Echoing these sentiments, Eng. Daniel Murenzi, Principal Information Technology Officer, EAC Secretariat stressed that digital payments are the backbone of a functioning digital market and that interoperability was no longer a luxury, but a necessity for regional prosperity.

“EAC and IGAD are implementing the EARDIP Project with the objective to advance digital regional integration by strengthening cross-border digital infrastructure, services, policies, and frameworks that promote economic growth, inclusion, and regional collaboration among EAC and IGAD Member/Partner States,” noted Eng. Murenzi.

“Payment systems are an enabler in this digital ecosystem for the region, with their interoperability a critical factor. We therefore need to review national payment processes, harmonise legal and regulatory instruments and facilitate interoperability of the regions payment system,” he noted.

On his part, Mr. Gynedi Srinivas, Senior Financial Sector Specialist, Payment Systems Development Group, World Bank outlined the global relevance of the workshop, noting that its objectives align with the Group of Twenty (G20) roadmap for faster, cheaper, and safer cross-border payments. He applauded the region’s readiness to harness the benefits of fast payment system (FPS) interoperability.

“The benefits of cross-border interoperability of fast payment systems will especially enable safer, faster and low-cost retail payments across borders helping end-users, individuals and Medium, Small and Micro Enterprises (MSMEs) to make and receive payments seamlessly,” he noted.

Participants of the workshop engaged in discussions on three strategic areas: digital infrastructure, legal and regulatory frameworks, and regional payment integration. Recommendations from these sessions included the need to invest in shared digital infrastructure, adopt consumer-centric design for FPS, develop regulatory sandboxes to support innovation, and the need to harmonise legal instruments to unlock true cross-border operability.

During the workshop, experts from some Member/Partner States Central/National Banks shared experiences and lessons from their national contexts, thereby providing practical blueprints for other countries aiming to leapfrog barriers and accelerate digital finance inclusion.

Participants also explored emerging technologies, including AI, blockchain, and cross-border Central bank digital currencies, alongside discussions on cyber threats and the role of cybersecurity incident response teams (CIRSTs) in protecting payment ecosystems. The need for a unified cybersecurity legal framework and real-time threat intelligence sharing across borders emerged as a top priority.

The workshop further recommended facilitating peer-to-peer attachments among central banks; anchoring FPS design in user needs; collectively addressing social engineering risks, particularly in mobile payments; and convening annual joint workshops on cross-border payments.

The workshop brought together experts from nine IGAD-EAC Member/Partner States’ National Payment System directorates or departments from the Bank of the Republic of Burundi, the Central Bank of Djibouti, the National Bank of Ethiopia, the Central Bank of Kenya, the National Bank of Rwanda, the Central Bank of Somalia, the Bank of South Sudan, the Bank of Tanzania and the Bank of Uganda. The Central Bank of the Democratic Republic of Congo was represented by the Ministry of Regional Integration of the Democratic Republic of Congo.  Also in attendance were IGAD and EAC EARDIP Coordinators and key staff as well as World Bank Consultants and a representative from Banco d ’Italia (Bank of Italy).  

– on behalf of East African Community (EAC).

SA’s agricultural exports reach US$3,36 billion 

Source: Government of South Africa

For the first quarter of 2025, South Africa’s agricultural exports reached US$3,36 billion, which translates to a 10% increase year-on-year, says Minister of Agriculture John Steenhuisen.

This is due to the work that government has been doing in expanding market access and defending trade over the past year.

“We facilitated new access for avocados to China, maize to Japan and India, beef to Iran, and table grapes to the Philippines and Vietnam. We managed a quick resolution to Botswana’s temporary ban on South African maize and wheat, reopening the border within two weeks.

“We were part of the Presidential delegation to the Forum on China-Africa Cooperation (FOCAC) in China, secured protocols for wool, dairy and meat exports, and participated in high-level delegations to Davos, Japan, and Berlin,” the Minister said on Tuesday in Cape Town.

Furthermore, South Africa had formal bilateral engagements with counterparts from the G7, African Union (AU), and G20, to advance the country’s market access and biosecurity agenda.

Addressing the Department of Agriculture’s Post-Budget Vote Media Briefing, the Minister outlined the significant strides the department has made in expanding market access, restoring biosecurity, delivering targeted farmer support, fighting food insecurity and empowering young people in the sector.

Restoring biosecurity and disaster preparedness

Over the past year, government has prioritised biosecurity as the world witnessed an increase in animal and plant disease risks.
The Minister said biosecurity is no longer a technical matter, but an economic and national imperative. 

“Over the past year, we have established the National Biosecurity Compact and a Biosecurity Council, which bring together scientists, industry experts and officials to coordinate outbreak responses.

“[We have] deployed animal health technicians to vaccinate against Foot and Mouth Disease in Gauteng and KwaZulu-Natal, as well as adopted a new proactive, strategic approach,” Steenhuisen.

Moreover, government relaunched the National Biosecurity Hub in partnership with the University of Pretoria and commenced the country’s first avian influenza vaccination campaign that was supported by upgraded digital disease surveillance.

“Our efforts are restoring confidence in our export systems and protecting farmers from catastrophic losses,” the Minister said.

Delivering targeted farmer support

According Steenhuisen, this year, over 6 000 farmers received direct support through a R1.7 billion allocation, creating 3 000 jobs.

“Through Ilima/Letsema, we supported 67.492 vulnerable households, generating nearly 9 500 work opportunities. We launched new smallholder farmer programmes in Jozini and beyond, focused on shifting the paradigm from “grow and sell” to “grow to sell”.

Ilima/Letsema is a government programme aimed at reducing poverty through increased food production initiatives.

In addition, government fast tracked the global Good Agricultural Practices (GAP) accreditation for emerging producers and expanded access to finance through a restructured Blended Finance Scheme.

“We have made it clear; the future of agriculture lies with the youth. Over 3 000 agricultural graduates have entered internship programmes. We have begun integrating all 11 agricultural colleges into the higher education system, starting with Elsenburg. 

“We are investing in climate-smart agriculture, pollinator protection, agroecology, and digital agri-tech tools to make agriculture attractive to the next generation,” the Minister said. – SAnews.gov.za

Tax season in South Africa: the system is designed to tackle inequality – how it falls short

Source: The Conversation – Africa – By Nadine Riedel, Director of the Institute for Public and Regional Economics, University of Münster

South Africa’s personal income tax system is in the spotlight as the country’s tax filing season gets under way. Personal income tax is an important way of redistributing income from higher-earning to less-well-off individuals.

But how effectively does it do this and what can get in the way?

At the heart of any redistributive tax system is its structure: which incomes are taxed or exempted, which expenses are tax deductible, how the tax rate schedule is designed, and which tax credits are granted, including how much they reduce the tax owed. The schedule translates taxable income into the taxpayers’ tax liability by defining tax rates by tax brackets. The top tax rate is 45%.

In a recent study we explore how features such as tax rates, deductions, credits, and bracket adjustments shape the redistributive capacity of South Africa’s personal income tax system. For this research, we analyse all the income tax returns of South African taxpayers provided by South Africa’s Revenue Service for the tax years 2015 and 2018. (All records were made anonymous.)

The country´s personal income tax operates under a progressive tax scheme: People pay higher rates of tax as their income rises. Those with lower incomes may owe no income tax at all, while top earners can face marginal rates as high as 45%.

Based on our analysis, this progressive rate schedule is the most effective mechanism for redistributing income from higher- to lower-income earners. By contrast, “tax expenditures” – that is, expenses, which taxpayers can deduct from what they owe in tax – lower the redistributive impact of the personal income tax system.

Put differently: Allowing taxpayers to claim tax deductions and tax credits reduces the extent to which personal income taxation effectively lowers gaps between the after-tax income of high- and low-income earners.

A number of recent tax policy reforms further dampened the redistributive capacity of the system. The spotlight is on potential policy reforms that may counter this.

Weaknesses

Our research shows that the benefits from tax expenditures in the country’s personal income tax system lower its ability to narrow income gaps. South African taxpayers can deduct various expenses from the personal income tax base and their tax liability respectively, including expenses for donations, home offices, certain insurance contributions and public offices.

Many of these benefits are claimed by a relatively small number of taxpayers (often below 1% of the taxpayer population or under 100,000 taxpayers) and are concentrated among top earners. And average deduction amounts can be high.

Even more widely used deductions and credits, such as those for pensions and medical schemes, are disproportionately claimed by higher-income individuals.

We also found that recent reforms have weakened the redistributive capacity of the personal income tax system.

Over the years, adjustments have been made, some intended to improve equity, others driven by the need to bolster revenues. A closer look at three key reforms offers some insight into the impact they have had on the distributive goal of the country’s tax system.

In 2016, pension-related deductions were redesigned to be more generous and to harmonise the treatment of different pension funds. The goal of the reform was to create a fairer and more coherent pension deduction system. While the number of taxpayers claiming pension deductions increased after the reform, our research found that that the policy change still disproportionately benefited higher-income earners. This is because they are more likely to make pension contributions – and do so in larger amounts.

As a result, the policy reduced the overall redistributive impact of the personal income tax system. In other words, it lowered the extent to which personal income taxation reduces income gaps between higher and lower income taxpayers.

The following year, the government introduced a new top tax bracket which raised the marginal tax rate on incomes above R1.5 million (today roughly R1.8 million or US$100,700) from 41% to 45%. That is, if you earn more than R1.5 million, you pay 45% of this income in tax.

The stated aim of the reform was to strengthen the progressivity of the personal income tax system. But our analysis suggests that the real-world impact was limited. This is because the pre-tax incomes of high earners grew more slowly than those of lower-income individuals after the reform. This may reflect that high income earners responded to the reform by lowering their taxable income. They could do so by tax avoidance – high income earners may, for example, shift income to the (potentially lower-taxed) future by compensation through stock options or higher retirement contributions. Or it could be through real adjustments, like earlier retirement entry or less job effort (and, in consequence, lower earnings).

Between 2015 and 2018, inflation pushed wages and prices upward, but tax thresholds did not keep pace. This led to many taxpayers being shifted into higher tax brackets despite no real change in their purchasing power (referred to as bracket creep). This raised effective tax rates, but also had a regressive side-effect: lower- and middle-income earners were disproportionately affected, weakening the personal income tax system’s ability to reduce income inequality.

For example, because of bracket creep, a significant fraction of low-income taxpayers – around 3% – became liable for tax. Without bracket creep they would have stayed below the tax exemption threshold.

Reforms to the tax system

South Africa’s progressive personal income tax structure has played an important redistributive role. Nevertheless, its effectiveness has been weakened by tax expenditures, bracket creep, and uneven reform outcomes.

Targeted policy adjustments can strengthen its redistributive capacity.

Deductions and tax credits: Most of these are regressive, with benefits concentrated among higher-income earners. Phasing out some could strengthen redistribution. But not without trade-offs. After all, deductions and credits also recognise unavoidable expenses, such as work-related or medical costs, and encourage behaviour like charitable giving or retirement saving.

Yet their appropriateness remains widely debated and their use differs across countries.

Beyond fairness, tax expenditures come with other downsides, too. For example, they can complicate tax enforcement and open the door to misreporting, particularly where qualifying expenses are hard to verify.

Policymakers might also consider shifting from deductions to tax credits. While deductions reduce the taxable income of an individual, tax credits directly reduce the tax owed. Individuals in higher tax brackets gain a relatively higher advantage from deductions, as their tax rate is higher. Contrarily, one rand of tax credit provides the same relief to all taxpayers with a positive tax liability.

Making credits refundable, though potentially costly, could further boost their redistributive effect.

Standardised deductions could help as well, by allowing fixed rand amounts for certain expenses without requiring proof of payment, and offering relief to lower-income taxpayers who often forgo claims due to lack of resources or knowledge.

Finally, addressing bracket creep by automatically indexing tax brackets to inflation could preserve the progressivity of the personal income tax system over time, shielding lower- and middle-income taxpayers from a quiet rise in tax burdens.

– Tax season in South Africa: the system is designed to tackle inequality – how it falls short
– https://theconversation.com/tax-season-in-south-africa-the-system-is-designed-to-tackle-inequality-how-it-falls-short-260351

Why the White Paper review matters more than ever

Source: Government of South Africa

By Minister of Cooperative Governance and Traditional Affairs Velenkosini Hlabisa

We have begun with a comprehensive review process of the 1998 White Paper on Local Government. The review of the White paper demonstrates our collective commitment to addressing the challenges facing local governance and shaping a future that aligns with the aspirations of all South Africans.

The significance of the Local Government White Paper Review process is multifaceted, impacting various aspects of governance, community engagement and socio-economic development. This review is a crucial indicator of government’s commitment to improving local governance structures and service delivery, both fundamental to effective democracy and citizen satisfaction.

To understand this process fully, it is essential to consider the historical context of local governance in South Africa. The White Paper on Local Government, adopted in 1998, established the foundation for developmental local government as a key pillar of South Africa’s democracy. 

This policy framework not only expanded access to basic services for millions but also defined the local government sphere as one that operates at the forefront of service delivery, working closely with citizens and other societal entities to address social, economic and material needs while improving the quality of life. The original White Paper was visionary, introducing a developmental model that emphasised collaboration and community participation.

Since the end of apartheid, local governments have played a crucial role in transforming communities, ensuring equitable service delivery, and fostering democratic participation. However, this journey has come with significant challenges. Many municipalities have struggled with inefficiencies, corruption and neglect, leading to public disillusionment and a lack of trust in local governance systems.

On 19 May 2025, we officially launched a review of the White Paper, emphasising that local governments must adapt to a changing world characterised by urban growth, climate challenges, youth unemployment and digital transformation. Without this evolution, municipalities risk becoming irrelevant and obsolete.

Central to the review is the need to restore public trust, which has been eroded by the issues and failures present in some municipalities. Rebuilding this trust is crucial and begins with accountability and the willingness to confront past mistakes.

The review poses the following challenging questions:
How can we ensure that councillors and municipal managers are qualified, accountable and focused on service delivery?
How can we restore fiscal discipline so that ratepayers’ money is used for delivery instead of waste?
How can we empower traditional leaders and rural communities without undermining constitutional principles?

We all agree that the rationale for this review is both urgent and strategic, as South Africa’s socio-economic landscape has shifted dramatically. The population has grown, and poverty and inequality remain deeply entrenched. Political instability, skills shortages and revenue shortfalls have weakened municipal performance.

In response, the review must address these and many other challenges by proposing structural changes that enhance accountability and efficiency. Additionally, the review aims to promote greater accountability and transparency in local governance.

By emphasising a participatory approach to governance, the review seeks to empower communities to engage actively with their local institutions. It aims to enhance transparency through measures such as open budgeting processes and public consultations, ensuring that municipal leaders are held accountable for their decisions and actions. This shift towards transparency is crucial for rebuilding trust between government and communities, allowing citizens to have a voice in the decision-making processes that affect their lives.

A key principle of the review recognises that meaningful community engagement is not just beneficial but necessary for effective governance. To this end, the White Paper calls for the establishment of forums, workshops and other platforms that allow citizens to express their concerns and suggestions. Such engagement serves two purposes: it empowers communities and helps local governments make informed decisions that truly reflect the needs of their constituents.

The review processes aim to rectify historical imbalances by ensuring that all voices are heard, particularly those that have been silenced in the past. It calls for inclusive engagement, reaching beyond the usual voices, and providing marginalised communities (such as informal traders, women, youth, traditional leaders and rural communities) the opportunity to participate. We emphasise this because real change must be rooted in lived experiences and supported by evidence.

This review presents an opportunity to rewrite the rulebook and introduce bold, forward-thinking reforms, including:
•    Smart governance tools that track performance and improve transparency through real-time data systems. 
•    New funding models that incentivise ethical leadership and penalise mismanagement. 
•    The professionalisation of local government, establishing minimum qualifications and ethical standards for officials and councillors. 
•    Climate resilience strategies that future-proof infrastructure and services against environmental risks. 
•    Improved intergovernmental coordination, particularly through the District Development Model, to streamline planning and reduce duplication.

Consultations already underway across provinces are shaping a framework and roadmap that is practical, coherent, and values-driven. They reflect the spirit of the Constitution and the realities of 21st Century South Africa while being both inclusive and practical.

The outcome should be a modernised local governance structure that characterises and defines a new era of capable, developmental, ethical and innovative municipalities, ultimately improving lives, rebuilding communities and restoring the resilience of our democracy.

Every municipality must work, not just in theory, but in practice, and for everyone.

*This was first published on Public Sector Manager magazine.

Securities and Exchange Commission (SEC), Quidax Bring Together Top Banks, Asset Managers to Drive Digital Assets Adoption in Nigeria

Source: APO – Report:

The Securities and Exchange Commission (SEC) Nigeria, in collaboration with leading digital assets exchange Quidax (www.Quidax.io), hosted an educational series aimed at equipping Nigerian finance professionals with the knowledge and tools needed to navigate the evolving digital assets ecosystem.

The exclusive two-day event, held at the prestigious Capital Club in Victoria Island, Lagos, convened representatives from commercial banks, asset management firms, pension fund administrators, and securities traders. Some of the participants at the event were from Zenith Bank, ARM, Investment One, FBNQuest, Interswitch, Ecobank, Africa Prudential, Meristem, Wema Bank, Capitafield, Sterling Bank, and several other companies.

Driving Adoption Through Education and Regulation

Speaking at the event, Abdulrasheed Dan Abu, Head of FinTech and Innovation at the Securities and Exchange Commission, underscored the programme’s significance. He stated that the initiative reflects the commission’s statutory responsibility not only to regulate the capital market but also to actively develop it.

Dan Abu emphasized the integral role of traditional financial institutions in the growth of the digital asset ecosystem. “The banks hold fiat currency. If they don’t understand what is going on, it creates a disconnect in the value chain. The more banks that understand digital assets, the better the playing field for users,” he explained.

This educational series builds on a series of significant regulatory milestones in Nigeria’s digital finance space. On 29 March 2025, President Bola Tinubu signed into law the Investments and Securities Act (ISA) 2025, which formally classifies cryptocurrencies and other virtual assets as securities, thereby placing them under the SEC’s purview. Prior to this, in June 2024, the commission issued rules for Virtual Asset Service Providers, providing crucial regulatory backing to exchanges and other entities operating in the space.

Quidax’s Pan-African Mission and the Importance of Collaboration

Buchi Okoro, Co-founder and Chief Executive Officer of Quidax, highlighted the event’s core purpose: supporting adoption by educating both beginners and advanced participants within the financial industry. “Adoption starts with education. This session caters to people at different knowledge levels, from total beginners to those who have conducted blockchain pilots,” he said.

Okoro reiterated Quidax’s ambitious Pan-African mission, noting that the exchange already operates in nine countries and plans to expand to all 54 African nations. “We’re solving African problems for Africans, and this event partnership with the SEC helps us do that within regulatory guardrails,” he added.

Industry Leaders Endorse the Initiative

The event garnered strong support from other key industry players, reinforcing the collaborative spirit essential for digital asset integration.

Pascal Maguire, Sales Director for Africa at Fireblocks, stressed the need for such forums: “We need more finance and payments experts and decision makers to attend such forums as this enables them to see that they have trusted partners in firms like Quidax, Fireblocks, and the SEC who can both educate them and guide them on their adoption and innovation journey.”

Ajibade Laolu Adewale, Chairman of the Committee of E-Business Heads in Nigerian Banks and Chief Partnership Officer at Wema Bank, a panelist at the event, highlighted the pressing need for digital assets due to inefficiencies in traditional banking. “Today, moving money internationally still takes days and depends on informal channels. With blockchain, you can transfer value instantly and securely,” he stated.

Attendees also expressed their positive reception. Sunday Joseph Olaniyan, Head of E-Business at Sun Trust Bank, remarked, “Events like these bring such awareness even closer to us as institutions here in Nigeria and presents us with the opportunity to not be left out of this wave of change. People like myself who have been aware of digital assets are now even more sensitized to the global trend and I sure do not want to be left behind at all.”

Adding to the sentiment, Bukola James-Cole, Director of Capital Market at Africa Prudential PLC, spoke about the natural evolution of money. She emphasized, “Whether we like it or not it will happen so the earlier we start getting educated about digital assets the better for the industry.”

– on behalf of Quidax.

About Quidax:
Quidax is an African-founded cryptocurrency exchange (https://apo-opa.co/3TvxUhk) that makes it easy for anyone to buy, sell, store and transfer cryptocurrencies. Quidax additionally enables OTC trading (https://apo-opa.co/3IiELby) and gives fintechs the tools to offer cryptocurrency services to customers through a dedicated crypto API.

Quidax was officially launched in 2018 and has customers in over 70 countries.

Media files

.

Malawi’s Mining Minister to Speak at African Mining Week (AMW) as Global Investor Interest in Country Surges

Source: APO – Report:

.

Malawi’s Minister of Mining, Ken Zikhale Reeves Ng’oma, has confirmed his participation as a speaker at the upcoming African Mining Week (AMW) 2025, Africa’s premier gathering for mining stakeholders. Minister Ng’oma will feature in the Ministerial Forum, showcasing policy frameworks and investment incentives aimed at accelerating mineral exploration, production and beneficiation in Malawi and across the continent.

Malawi – under the leadership of Minister Ng’oma – is attracting attention from major investors targeting its rare earths, uranium, titanium, graphite and downstream value chains. In June, Minister Ng’oma signed a $7 billion deal with China’s Hunan Sunwalk, marking the largest-ever foreign investment in the country’s mining sector. The deal covers the development of titanium extraction and processing facilities in Salima, alongside major commitments to skills development, technology transfer and community investment. The country also secured $5 billion at China’s Xidian International Stock Exchange to develop a Special Economic Zone in Chipoka. Up to $1 billion worth of mining, infrastructure and agri-industrial projects will be deployed within the first year as part of the deal. The China-Africa Cooperation on Critical Minerals Roundtable at AMW provides an ideal platform for Minister Ng’oma to forge new investment partnerships with Chinese investors.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

In addition to Chinese investors, major financial institutions across the globe are also supporting cornerstone projects. Malawi’s Ecobank has proposed a $30 million loan, the European Investment Bank a $40 million facility and Gerald Group a $50 million loan to fund the Kangankunde Rare Earths Project. Operated by Australia’s Lindian Resources, the project will be one of the world’s largest rare earths production facilities once operational in 2026.

In the uranium sector, Lotus Resources secured $38.5 million from South African banks First Capital Bank and Standard Bank to advance the Kayelekera Uranium Project, with first production scheduled for Q3 2025. Additionally, Sovereign Metals raised $40 million in March to support the Kasiya Rutile-Graphite Project, home to the world’s largest known rutile deposit and second-largest graphite reserve. With projected annual outputs of 245,000 tons of rutile and 288,000 tons of graphite over 25 years, the project will position Malawi as a major player in global critical minerals supply.

Amid this surge in investment, Malawi’s mining sector has the potential to generate up to $30 billion in mineral exports between 2026 and 2040. Against this backdrop, AMW 2025 provides a timely platform for Minister Ng’oma to engage global investors, spotlight Malawi’s growing mining sector and drive new partnerships. Held under the theme From Extraction to Beneficiation: Unlocking Africa’s Mineral Wealth, AMW will feature high-level panel discussions and strategic project showcases amplifying Malawi’s role in the continent’s mining future.

– on behalf of Energy Capital & Power.

Women in Bani Walid: “Our voices are not heard”

Source: APO – Report:

.

To hear women’s voices in the political process, Deputy Special Representative of the Secretary General for Political Affairs (DSRSG-P), Stephanie Koury, held a dedicated meeting with women community leaders in Bani Walid last Saturday.  

Participants underscored that presidential elections are essential to resolving the political impasse and called for the dissolution of all armed groups, asserting that unified security forces in the western region are crucial for enabling credible elections. 

“As women in Bani Walid, we suffer from marginalization; our voices are not heard,” said one participant. They noted the absence of women’s empowerment offices at all levels, including within the municipality where the person responsible for social affairs is a man. The Social Affairs officer is responsible for overseeing all aspects of family compensation and addressing issues related to women and children.  

DSRSG-P Koury took note of the concerns raised by women during the meeting. She also discussed the importance of meaningful engagement of all Libyan women in the political process. 

Ms. Koury briefed participants on the four options put forward by the Advisory Committee in May to move the political process forward. As outlined in the  Executive Summary of the Advisory Committee’s report,  the options include:  

  1. Conducting presidential and legislative elections simultaneously;  
  2. Conducting parliamentary elections first, followed by the adoption of a permanent constitution;  
  3. Adopting a permanent constitution before elections; or  
  4. Establishing a political dialogue committee, based on the Libyan Political Agreement to finalize electoral laws, executive authority and permanent constitution.  

Participants shared local initiatives to promote women’s empowerment, emphasizing the need for representation, inclusion, and meaningful participation of women across Libya. They also expressed a strong demand for the unification of state institutions.  

Additionally, participants raised pressing socioeconomic issues, especially in the education and health sectors, noting the ongoing toll on women and children. “We want to end the injustice of war for the next generation,” said one woman. 

Throughout the public consultations in Bani Walid, participants expressed deep frustration over the absence of national reconciliation and human rights violations.  

While acknowledging that customs and tribal structures continue to shape local governance, participants stressed the need for greater public awareness around elections and civic responsibility.  

“The social and security situation is deteriorating,” said one participant. “While we value preserving our traditions and norms, but this must go hand in hand with empowering women in public life and allow them to assume leadership roles.”

– on behalf of United Nations Support Mission in Libya (UNSMIL).

Africa: Cities deepen fiscal reform efforts to support development goals

Source: APO – Report:

Urban areas across Africa are growing at a remarkable pace, but many city governments are being asked to deliver more with limited fiscal space and constrained access to capital.

Despite these pressures, some city administrators say they are “seeing real progress,” as explained by James Muchiri, Deputy Governor of Nairobi City County: “In the last financial year alone, Nairobi’s local revenue rose by one billion shillings, and the year before, by nearly the same amount.

This view is shared by Chilando Chitangala, Mayor of Lusaka, who noted that the city has long struggled with revenue leakages but is now learning how to build stronger systems – how to collect more effectively and manage what we collect with greater accountability.

The two city leaders were speaking at the close of a high-level side event co-organized by the UN Economic Commission for Africa (ECA), UN-Habitat, and the United Nations Capital Development Fund (UNCDF) on the margins of the Fourth International Conference on Financing for Development (FfD4) in Seville.

The session focused on how African cities can mobilize domestic resources and strengthen financial systems to support the Sustainable Development Goals and Agenda 2063.

Both Nairobi and Lusaka are among six African cities participating in the DA-15 project, a joint initiative led by ECA in partnership with UN-Habitat and UNCDF. The project supports city administrations in evaluating their financial performance, identifying reform priorities, and building the tools needed to strengthen public finance at the local level. Other participating cities include Addis Ababa, Dar es Salaam, Kigali, and Yaoundé.

The first phase of the project involved in-depth financial assessments across the six cities. The findings revealed significant gaps in revenue collection, expenditure management, and investment planning, but also surfaced promising areas for reform.

“By using ECA’s methodology, we got a report that was independent of our own systems,” said Mr Muchiri. “That helped surface issues we hadn’t seen before, and gave us something concrete to act on.”

To support implementation, ECA has also developed the Fiscal Space Performance and Monitoring Dashboard, a digital tool that enables city officials to track real-time indicators such as liquidity, solvency, and revenue collection efficiency.

The dashboard is designed to strengthen transparency and support evidence-based decision-making at the local level.

“The dashboard enhances transparency, strengthens accountability, and supports smarter financial decisions,” said Hana Morsy, Deputy Executive Secretary of ECA. “It’s a practical tool city can use to stay on top of their fiscal health.”

While digital tools and financial diagnostics are central to the DA-15 approach, both Nairobi and Lusaka emphasized the importance of local capacity and political will.

“We now have the skills and structure to move forward,” said Ms Chitangala. “And we hope this knowledge can benefit other cities across Zambia as well.”

“Ultimately,” added Mr Muchiri, “we want to reduce our dependency on central government transfers. That means we have to build strong, reliable systems that let us collect and manage our own revenue with confidence.”

Ms Morsy called on national governments, development partners, and the private sector to invest not just in infrastructure, but in the financial systems and institutions that make local governance work.

“What if we stopped viewing cities as beneficiaries,” she said, “and started empowering them as leaders?”

Atkeyelsh Persson, Chief of Urbanization and Development at ECA, stressed the importance of ensuring that capacity gains are shared more widely.

“It’s encouraging to see the impact being felt on the ground,” said Ms Persson. “The capacity built through this work shouldn’t stop with just Nairobi or Lusaka. It has the potential to scale across other cities in Kenya, Zambia, and beyond.”

– on behalf of United Nations Economic Commission for Africa (ECA).

Media files

.

30% US Tariff Will Be a Blow to Economic Growth, Jobs and Trade Certainty

Source: APO – Report:

.

The Chairperson of the Select Committee on Economic Development and Trade, Ms Sonja Boshoff, has expressed grave concern over the impending 30% tariff imposed by the United States government on key South African exports, as the tariffs will have far-reaching consequences for exporters and on the broader ailing South African economy.

Ms Boshoff said the US tariff order, which was signed yesterday and is set to come into effect on 1 August 2025, undermines the historical US–SA trade cooperation and poses a serious threat to strategic sectors such as citrus, macadamia, automotive components, steel and aluminium. “These industries are not abstract economic indicators; they are lifelines for tens of thousands of workers, particularly in rural and small-town South Africa,” emphasised Ms Boshoff.

She said South Africa’s citrus industry alone supports more than 35 000 jobs and contributes over R38 billion annually to the economy. “A tariff of this magnitude threatens not only the profitability of our exporters, but the livelihoods of workers and the economic stability of entire agricultural regions,” stressed Ms Boshoff.

She said the tariff order also casts a dark shadow over the future of the African Growth and Opportunity Act (AGOA), which has long facilitated preferential access to US markets. With the new duty effectively neutralising those preferences, there is growing uncertainty for producers who depend on predictable market access to plan, invest and grow.

“It is critical that trade agreements are honoured in good faith. No country can plan its industrial or export strategy under a cloud of sudden and unilateral tariff hikes” said Ms Boshoff.

The committee recognises that the Department of Trade, Industry and Competition (DTIC) is pursuing negotiations with its US counterparts, reportedly offering strategic Liquefied Natural Gas procurement in exchange for a more reasonable tariff ceiling. However, such engagements must be swift, transparent and rooted in the national interest.

“We cannot afford diplomatic dithering. Every delay will deepen the uncertainty in our export industries. The government must urgently finalise a sustainable trade path with the United States and, simultaneously, accelerate diversification into new markets across the EU, Asia and Africa,” stressed Ms Boshoff.

The committee calls on the DTIC and the Department of Agriculture to provide support packages and market reorientation strategies for the most affected industries. This must include logistics relief, export finance support, and new market facilitation, particularly for emerging farmers and SMEs.

“At a time when South Africa is battling record unemployment and low growth, punitive tariffs by our biggest trading partners are not just economic risks, they are catalysts for deeper inequality. We must respond with urgency, precision and policy agility,” Ms Boshoff noted.

This unprecedent development cannot be approached with a “let it go” attitude, Ms Boshoff said. She called on the South African government to urgently send a high-level delegation to Washington to undertake repair of diplomatic ties and to reaffirm South Africa’s commitment to constructive engagement.

President Trump signed the tariff order on Monday, 7 July, after the withdrawal of US grant funding for critical programmes in South Africa. The tariff order, which will apply to all South African products entering the US market, will come into effect from 1 August 2025.

– on behalf of Republic of South Africa: The Parliament.