West Africa

The paper, issued in December 2024 with a face value of ₦14,971,880,511.74, serves as a significant step in Payaza's strategic funding approach, aimed at facilitating the company's rapid expansion throughout the African continent. What truly sets Payaza apart isn’t merely its ability to manage the repayment; it’s the manner in which this was achieved—entirely through operating cash flows, without resorting to refinancing or rollovers. This remarkable accomplishment not only underscores the resilience of the organization but…

**Baidoa, Somalia (AX)** — In a shocking display of force, Al-Shabab militants unleashed a wave of mortar attacks late Sunday night against a military base situated in the Barujed area. This base lies on the periphery of Baidoa, the interim administrative capital of Somalia’s Southwest state. What is particularly chilling is that the base represents one of the most fortified installations near Baidoa, underscoring the escalating tensions in a region that has seen a worrying uptick in militant activity in recent weeks. The…

In a recent conversation with Business Insider Africa, Falansa recounts his remarkable journey—a path that gracefully weaves together his background in physics education, an internship at a major news application, and his emergence as a prominent figure in Nigeria’s tech ecosystem. How does one shift from traditional fields to the dynamic world of technology? In Falansa's case, the answer lies in tenacity, curiosity, and a willingness to embrace learning at every stage. While the buzzwords surrounding artificial…

Strategic Military Growth: A Call to African Governments Recent events serve as a compelling reminder for African governments: the time for strategic preparation has never been more urgent. As various challenges loom on the horizon—ranging from terrorism to political instability—these nations must not only adapt but also anticipate the landscape of tomorrow. A robust military presence is no longer simply an option; it has become a necessity. In this context, the enhancement of military capability within African…

In The Gambia, the livelihoods of countless fishermen have plummeted into a crisis that deepens daily. The declining fish stocks have painted a bleak picture, exacerbated by soaring fuel prices and the relentless presence of foreign trawlers stripping the waters of vital marine life. Fish such as sardines and bonga, once abundant and processed in local factories, have seen their fate redirected to European and Chinese markets, primarily for aquaculture feeding. This shift threatens not only local economies but also the…

A transformative shift is underway in Nigeria’s downstream logistics, promising to enhance distribution efficiency while significantly reducing transportation costs. This development is more than just a logistical upgrade; it represents a holistic approach towards a more sustainable and economical fuel distribution system within the country. As part of this strategic initiative, the new Compressed Natural Gas (CNG) fleet, which will be operational from August 15, 2025, has been acquired through the Dangote…

Mogadishu (AX) — In a significant stride towards enhancing its maritime and transport infrastructure, the Somali Ministry of Ports and Maritime Transport announced this past Sunday the signing of a pivotal memorandum of understanding (MoU) with Turkey. This partnership is poised to bolster cooperation not only in economic realms but also in the vital transport networks that connect African coastal nations. The agreement was formalized by Somalia’s Minister of Ports and Maritime Transport, Abdulkadir Mohamed Nur, who…

Mogadishu (AX) — In a significant milestone for Somalia, President Hassan Sheikh Mohamud laid the foundation stone for the new Mogadishu International Airport this past Sunday. This ambitious infrastructure project is set to be established in the Warsheekh district of the Middle Shabelle region, and it promises to be a transformative development for the nation. During the groundbreaking ceremony, President Mohamud articulated the vital importance of this airport for enhancing Somalia's connectivity and improving its…

In an astonishing turn of events, Nigeria's public debt has surged, now reaching an unprecedented ₦27.72 trillion, marking an eye-watering 22.8% increase compared to the ₦121.67 trillion recorded during the same timeframe last year. This staggering growth invites immediate scrutiny: What are the driving forces behind this rapid expansion? According to the most recent figures from the Debt Management Office (DMO), the nation’s total debt has climbed by ₦4.72 trillion, or 3.3%, rising from ₦144.67 trillion at the…

On June 27, a statement was released on the Bank of Ghana's (BoG) website, garnering attention from publications like The High Street Journal. The Bank identified ten unlicensed money transfer firms that allegedly are conducting foreign exchange and remittance activities in clear violation of Ghanaian financial laws. Have you ever wondered how many people unknowingly rely on services that operate outside legal frameworks? The BoG stressed that these entities lack the necessary licenses and authorization to…