The Nation Newspaper

Category: Business

  • Yuletide: Police tighten Lagos ports’ security

    Yuletide: Police tighten Lagos ports’ security

    The Nigerian Ports Authority (NPA) Police, Western Command, has rolled out intensified, round-the-clock security operations across major port corridors in Lagos to safeguard vessels, cargo and port infrastructure during the Yuletide season.

    The Commissioner of Police, Ports Authority Police, Western Command, Oluwatoyin Agbaminoja, disclosed this in a statement signed by the Police Public Relations Officer (PPRO), Isaac Hundeyin, noting that land and marine patrols have been significantly reinforced to deter criminal activities and guarantee uninterrupted maritime operations during the festive period.

    Agbaminoja said the measures were designed to protect port users, maritime stakeholders and critical national assets as human and vehicular traffic peaks around the ports during the holidays.

    According to the statement, the security deployment covers Apapa Port, Tin Can Island Port, Lagos Island Port, Lekki Deep Sea Port, Kirikiri Lighter Terminal, Ikorodu Lighter Terminal, as well as marine patrol routes extending up to 12 nautical miles within Lagos waters.

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    The commissioner explained that the proactive strategy is aimed at ensuring seamless port activities despite the seasonal surge in cargo movement, port users and logistics traffic.

    To strengthen the security architecture, Agbaminoja said the Command has deepened collaboration with sister security agencies, terminal operators, shipping companies and Port Facility Security Officers (PFSOs) to enable swift, real-time response to emerging threats.

    She added that additional personnel have been deployed to congestion-prone areas, while intelligence gathering and surveillance operations have been heightened to proactively identify and neutralise risks to port safety and national economic assets.

    Agbaminoja urged port users and stakeholders to remain security-conscious, comply with laid-down guidelines and promptly report suspicious activities to the nearest Port Police Division or Marine Unit.

    “The Command wishes to reassure port users, maritime stakeholders and the public of its unwavering commitment to maintaining safety, security, and order across all port corridors during the Yuletide period. The command also remains committed to ensuring that activities within the nation’s maritime domain continue smoothly and securely throughout the season and beyond,” the commissioner stated.

  • Court strikes out FHT Mega Express suit against Parallex Bank

    Court strikes out FHT Mega Express suit against Parallex Bank

    The Lagos State High Court has struck out the suit filed by FHT Mega Express Limited against Parallex Bank and ordered the company to publish the court’s decision in three national newspapers, according to the Certified True Copy (CTC) of the judgment obtained today.

    Justice A.T. Muyideen of the Ikeja Judicial Division, in the ruling delivered on 18 November 2025, terminated Suit No. LD/ADR/6143/2025, in which FHT Mega Express Limited claimed that Parallex Bank was indebted to it. 

    The company had initially sought ex-parte orders to attach funds belonging to the bank, but the court refused the application and directed that the bank be served.

    The CTC of the judgment shows that Parallex Bank, upon being served, responded through its senior counsel, Dr. Kemi Pinheiro SAN, who filed multiple processes, including a preliminary objection dated 17 November 2025. In the objection, the bank contended that the suit was an abuse of court process.

    The bank’s filings, as captured in the certified judgment record, revealed that Parallex had earlier instituted Suit No. FHC/L/CS/1774/2025 at the Federal High Court on 4 September 2025 against FHT Mega Express Limited, seeking to recover over N4.5 billion allegedly owed by the company. 

    The Federal High Court had reportedly ordered parties to maintain the status quo, a development FHT Mega Express failed to disclose before initiating the Lagos High Court action.

    According to the CTC, Parallex Bank argued that the company attempted to secretly obtain ex-parte orders to freeze the bank’s funds despite being aware of the subsisting Federal High Court proceedings.

    Following its failed ex-parte bid and confronted with the bank’s strong objection, FHT Mega Express applied on 18 November 2025 to discontinue the matter.

  • Real estate firm rewards top realtors with cars at year-end celebration

    Real estate firm rewards top realtors with cars at year-end celebration

    Powell Homes and Shelters Ltd closed the year on a celebratory note in Enugu, reinforcing its positioning as a people-centred real estate brand with the presentation of brand-new cars to its top-performing realtors. The year-end celebration, held at the International Conference Centre, was both a reward ceremony and a statement of the company’s philosophy: excellence deserves tangible recognition.

    At the heart of the event was the formal handover of two vehicles to outstanding realtors, an honour performed by the company’s brand ambassador and Nollywood icon, Patience Ozokwor. Popularly known as “Mama G,” the veteran actress used the occasion to commend the consistency, discipline, and integrity displayed by the award recipients, while also praising the company for sustaining a culture that values people as much as profit.

     Ozokwor described Powell Homes and Shelters Ltd as a dependable brand that has earned trust in Nigeria’s often complex real estate space. According to her, the company’s relationship with its staff, realtors, clients, and the media reflects a level of transparency and integrity that distinguishes it from competitors.

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    “Powell Homes and Shelters is a brand you can depend on without worry,” she said. “Any property you buy from them belongs to you. Everything is sorted out. All the stress people usually face when acquiring land is completely taken care of.” She added that peace of mind is a rare but critical currency in real estate, one that the company has consistently delivered to investors. The actress, who noted her decades-long career advocating values and positive social ideals, said she is selective about the brands she associates with. “I don’t go to places where people are stressed,” she remarked. “Powell Homes and Shelters has given me and everyone who has invested with them peace of mind.”

    For the company’s Chief Executive Officer, Architect Dr. Onyekachi Emmanuel, the event was a deliberate strategy to motivate performance and sustain healthy competition within its realtor network. He explained that the firm’s reward culture goes beyond commissions, focusing instead on long-term incentives that recognise effort and loyalty.

    “The essence of this event is to motivate and encourage our hardworking realtors,” Dr. Onyekachi said. “Beyond commissions, we reward them with valuable gift items such as cars, refrigerators, microwaves, washing machines, and others. This has been our culture for the past two years, and we do this twice a year.”

    He noted that the 2025 edition of the reward programme stood out because the company raised the performance benchmark required to qualify for car rewards. Despite the higher threshold, several realtors still met the criteria within a short time. “If we had maintained the previous benchmark, we would have given out more vehicles,” he said, underscoring the depth of performance within the network.

    With the latest presentation, Powell Homes and Shelters has awarded a total of seven vehicles in 2025 alone, alongside a wide range of incentives including iPhones, generators, media kits, and household appliances. According to Dr. Onyekachi, these rewards are not mere publicity tools but reflections of the company’s commitment to value delivery. “For every property you buy from us, you are guaranteed value,” he said. “If you compare our properties side by side with others, you will see that we offer superior quality and value.”

    The beneficiaries of the car awards, Mrs. Njideka Chinonso and Mrs. Eze Victoria Rose, emerged as the highest-selling realtors and described the recognition as both affirming and motivating. They expressed gratitude to the management for acknowledging their efforts, noting that the gesture had deepened their commitment to a brand that rewards hard work in practical, life-changing ways.

  • MWUN closes 2025 with grand end-of-year celebration, rewards members with cash prizes

    MWUN closes 2025 with grand end-of-year celebration, rewards members with cash prizes

    The Maritime Workers’ Union of Nigeria (MWUN) on Friday, December 19, 2025, rounded off its activities for the year with a colourful end-of-year celebration marked by worker recognition, cash rewards, and a strong display of labour solidarity.

    Union officials described the gathering as an unprecedented event in MWUN’s history. Held under the leadership of the President-General, Comrade Francis Bunu, the celebration brought together workers, staff, and executives in what was widely regarded as the largest end-of-year party ever organised by the union, reinforcing internal cohesion amid ongoing reforms in the maritime sector.

    As part of activities to formally close the 2025 calendar year, MWUN presented cash awards to deserving members in recognition of punctuality, dedication, and exemplary conduct. In the punctuality category, the Deputy Secretary-General in charge of Administration and Personnel, Comrade John Ekpo, received a cash prize of ₦100,000.

    In the best-dressed category, the Deputy Secretary-General in charge of Protocol and the union’s representative of the International Transport Workers’ Federation (ITF), Comrade Kenneth Ibanga, was awarded ₦100,000, alongside the General Secretary of the Dockworkers Branch, Comrade Mathew Adele, who also received ₦100,000.

    Female award recipients included Comrade Akala Mistura of the Accounts Department, who emerged best dressed, as well as Funke Apesin, Assistant Secretary-General (Administration), and Serifat Ogbede, Personal Assistant to the President-General. Each received ₦100,000 in cash.

    Additional recognitions in the punctuality category went to the union’s Chief Driver, Comrade John Kessy, and the Assistant General Secretary of the Dockworkers Branch, Comrade Rotimi, who both received ₦100,000 each. Comrade Taofeek Adeleke was also rewarded as the best among MWUN security personnel.

    In the entertainment segment, the Vice President-General, Comrade Martina Njoku, emerged as the best female dancer during an open dance competition and received ₦50,000, while other participants went home with consolation prizes.

    A major highlight of the ceremony was the presentation of a special award to the President-General by the organisers of the “Face of Maritime,” alongside the 2025 Queen of the platform, in recognition of his leadership within Nigeria’s maritime labour movement.

    Speaking at the event, Comrade Bunu thanked participants for their discipline and conduct, reaffirming the values expected of union members.

    He noted that “the only way this tempo can be surpassed is through hard work, dedication, punctuality, commitment, and loyalty.” He also commended the organisers of the “Face of Maritime” for sustaining the annual event and expressed appreciation to journalists in attendance.

    The celebration featured a variety of local delicacies drawn from Nigeria’s geopolitical zones, including the Niger Delta, South-West, South-East, and Northern regions, reflecting the union’s commitment to inclusiveness and national representation.

    MWUN officials said the event underscored the union’s dedication to worker motivation and unity as it positions maritime labour to engage more effectively with evolving port operations, industrial relations, and sector-wide reforms in the years ahead.

  • Data protection and privacy: Eight African countries understudy Nigeria ecosystem 

    Data protection and privacy: Eight African countries understudy Nigeria ecosystem 

    The immediate action taken by President Bola Tinubu in 2023 provided a bolster for Nigeria data protection and privacy ecosystem, The Nation gathered in Abuja on Monday. 

    According to the authorities of the Nigeria Data Protection Commission (NDPC), the president acted in manners that demonstrated that he had seen the future of the sector as promising and bright. 

    The NDPC in a statement said President Tinubu signed the 2023 Data Protection Act into law thus paving the way for opportunities, expansion of the ecosystem, and ensured that regulatory and supervisory functions take the front stage. 

    The Chief Executive Officer in charge of the Nigeria Data Protection Commission, Dr Vincent Olatunji also set the ball rolling for policy implementation, and compliance with provisions of the NDPC Act.

    The CEO/National Commissioner of the NDPC, according to our findings left no one in doubt that the data protection and privacy policy of Nigeria would lead and provide guidance for other agencies in Africa, and the West Africa sub region. 

    Dr Olatunji who is also the pioneer CEO of the Commission ensured that the data protection and privacy ecosystem started to attract attention, investments and provided information and awareness on data privacy to data subjects and custodians of citizen’s data. Banks, educational institutions, hospitals, insurance companies, telecommunications companies and other industry players are kept on their toes. Some institutions were also sanctioned for data breaches. The online platforms were also sanitised on data protection and privacy. 

    It was gathered that following the religious implementation of the Act and the robust regulatory oversights provided by the Commission, Nigeria became a centre of attraction for other countries.

    It was learnt that within two years, no fewer than eight countries began to understudy Nigeria data protection and privacy ecosystem in order to replicate same methodology in their respective countries. 

    Our Correspondent gathered that Nigeria ensured the Domestication of Data Protection Officers’ Certification to enhance competence within the ecosystem. This localisation also reduced pressure on the naira by limiting the need to purchase foreign currency for international certification. Over 500 Data Protection Officers received international 

    Certification.

    The NDPC certification significantly expanded Nigeria’s pool of qualified privacy professionals and supporting the effective implementation of the Nigeria Data Protection Act across sectors. Also within the period under review, Nigeria hosted the Network of African Data Protection Authorities, (NADPA) Conference and Annual General Meeting.

    The conference helped significantly to promote continental cooperation, knowledge exchange, and alignment of data protection regulatory frameworks among African data regulators.

    Throught the initiatives of Dr Olatunji, the Virtual Privacy Academy (VPA) was established. The VPA is currently helping to expand privacy education, creating awareness across all sectors and ensuring that data subjects are seen as critical stakeholders, and treated as such. 

     The VPA is a Nollywood-styled initiative tailored to deliver structured online training, awareness programmes, and professional development courses to build data protection capacity.

    On the countries understudying the Nigeria ecosystem, the NDPC received delegations from eight African Countries. It was an opportunity for them to share regulatory experience, institutional frameworks, and practical lessons in establishing and operating an effective data protection authorities. 

    The Somalian Data Protection Authority came on 23rd July 2025, Uganda Data Protection Authority on 5th August, 2025, Botswana, Kingdom of Eswatini, Mozambique , Sierrra Leone, Tanzania and The Gambia on 8th September 2025.

    Concerning the implementation of the Nigeria Data Protection ACT (NDP Act ) 2023 General Application and Implementation Directive, the Commission issued the NDP-Act GAID to provide regulatory clarity, operational guidance, and enforceable standards for compliance with the Nigeria Data Protection Act.

    Also the NDP Act was translated into three Local Languages to enhance public awareness, ensure inclusion of all and sundry within the ecosystem. 

    “To deepen public awareness and inclusion, the Commission translated the Nigeria Data Protection Act into the three major local languages (Hausa, Igbo and Yoruba) to improve accessibility and understanding of data protection rights among Nigerians”, said Mr Itunu Dosekun, the Head of Corporate Communications and Media of the NDPC. 

    Itunu said the Commission also conducted targeted capacity-building programmes for Ministries, Departments, and Agencies to enhance institutional compliance, data governance practices, and the responsible handling of citizens’ personal data.

    He added that in recognition of sterling achievements of the present leadership of the NDPC, the Commission received multiple recognitions, including Outstanding Data Protection Authority of the Year at the Picasso Awards Africa, affirming its leadership, regulatory impact, and commitment to data protection excellence.

    Also worthy of mention the NDPC signed various Memorandum of Understanding on Data and knowledge information privacy protection initiative, Master Card, Digital Africa Consult, and with Bauchi State Government in addition to ones signed with Smart comply Technologies Solutions Limited and ISACA. 

    Itunu said the moves are aimed at expanding the operations of NDPC and providing regulatory guidance and enforcement where necessary across the ecosystem. 

  • Okumagba congratulates Eyesan on appointment as NUPRC CEO

    Okumagba congratulates Eyesan on appointment as NUPRC CEO

    Prominent Leader of APC in Delta State and former Commissioner for Finance, Olorogun Bernard Okumagba, has congratulated Mrs Oritsemeyiwa Eyesan on her appointment as CEO of Nigeria Upstream Petroleum Regulatory Commission (NUPRC). 

    In a statement on Monday, Olorogun Okumagba noted that Eyesan has had a distinguished career in the Oil and Gas Industry culminating in her last responsibility as Executive Vice President Upstream in the NNPC which she discharged excellently. 

    Okumagba commended President Bola Ahmed Tinubu on the appointment and praised the determination of Eyesan to bring about positive changes in the Petroleum Upstream sector. Okumagba particularly commended Eyesan’s commitment to “Digitisation and Automation” as amplified at her Senate Screening.

    He stated: “Our country needs to do more in the metering and comprehensive monitoring of oil and gas production across Nigeria’s upstream petroleum operations. We need to do more in deploying advanced technologies that enhance operational efficiency, transparency, and environmental sustainability within the oil and gas sector in alignment with international best practices. 

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    “We need to do more in the establishment of a centralised control and data monitoring centre to provide real-time visibility of oil and gas production, flare-gas volumes, emissions data, accurate revenue capturing and operational compliance across oil and gas fields nationwide.”

    Okumagba noted: “President Tinubu has continued to stress the critical need to increase our Country’s Oil and Gas production and has put in place several reform measures which require the steadfast implementation by all stakeholders to achieve the desired targets. We must continue to do what is needed to attract investments and ensure efficiency and vibrancy in oil and gas production activities in order to shore up our Country’s revenues.”

    Okumagba called on all stakeholders to support Eyesan as she embarks on the task of improving our Country’s trajectory in the diligent regulation of the Upstream Sector of our Petroleum Industry.

  • Knorr celebrates community, culture, kindness through campaign

    Knorr celebrates community, culture, kindness through campaign

    This festive season, Knorr, Nigeria’s leading seasoning brand, is once again taking the spirit of generosity beyond the kitchen and into the heart of communities through its annual “Share the Good” campaign. 

    Rooted in Knorr’s belief that food is a powerful culture connector, the campaign celebrates togetherness, gratitude, and the people who play vital roles in feeding communities across the country.

    As part of a nationwide outreach spanning 30 communities and 21 markets, activities commenced across Enugu, Anambra, Imo, Ibadan, Akure, and Benin, transforming bustling markets and local communities into vibrant spaces of celebration and shared joy. From lively streets to everyday market scenes, ordinary days were turned into unforgettable experiences, spreading happiness and reinforcing the true value of connection and community during the busiest season of the year.

    From Anambra, where activities lit up Ochanja Market, Onitsha Main Market, Odakpu, and Awada, to Enugu’s Ogbete and Ekeonuwa Markets and the Asata community, the energy was unmistakable. The celebration continued in Imo State at Eke Uku/Relief Market, with community visits to Egbu Town and Umu Oronjo, before moving westward to Ibadan, Akure, and Benin City, where festive cheer filled Agbeni, Oja Oba, Shasha, New Benin, and Mission Road markets, and surrounding communities.

    Each stop was a rich cultural experience. Lively cultural troupes entertained shoppers and traders, setting the tone for celebration. People got to enjoy nutritious, tasty jollof meals, while raffle draws rewarded lucky participants with branded items including microwaves, gas cookers, umbrellas, fanny packs, and other instant prizes — keeping excitement high throughout the day.

    The highlight at every market was the jollof cook-off, which quickly became the heart of the celebration. Two market women at each market competed in a live cooking challenge, drawing cheers and playful rivalry from the crowd. Winners received cooking pot sets and Knorr Wingman Boxes, creating memorable moments that reflected the joy, pride, and cultural significance of food in Nigerian communities.

    While the first phase of Knorr’s “Share for Good” experience is complete, the journey is far from over. Knorr will continue to surprise lucky traders and communities in Port Harcourt, Delta, Abia, and Lagos, working toward reaching 30 communities and 21 markets nationwide before the festive season ends.

    Speaking on the campaign, Dami Dania, Food Demand Creation Lead at Unilever Nigeria Plc, said, “At Knorr, we believe food is more than nourishment, it’s a force that brings people together, especially during the festive season. For this reason, Share the Good was designed to further reflect that. This is a community-focused initiative that encourages the sharing of nutritious meals, inspires acts of kindness, and promotes healthy eating, particularly during festive periods.

    “Our first phase of the ‘Share the Good’ campaign brought this to life in Enugu, Anambra, Imo, Ibadan, Akure, and Benin, vibrant communities where every smile, every shared meal, and every interaction radiated joy and togetherness. These moments reminded us of the powerful role food plays in nurturing relationships, and creating collective joy. We are excited to continue this journey and reach even more communities across Nigeria in the next phases.”

    As the celebrations continue across the country, Knorr reaffirms a belief it has upheld year after year: food is more than nourishment. It is a bridge between people, a catalyst for joy, and a powerful way to celebrate culture, community, and the true spirit of the festive season.

  • Soaring land prices threaten food production

    Soaring land prices threaten food production

    The soaring prices of land and the prevalence of land grabs are creating an unprecedented land squeeze that threatens the livelihoods of farmers and the stability of food production. In recent months, there has been a troubling increase in farmland prices throughout the nation. It has been noted that if this upward trend continues, smallholder farmers may find it difficult to acquire land for small-scale food production, leading to dire consequences such as rural poverty and food insecurity.

    Vice Chairman, All Farmers Association of Nigeria (AFAN), Otunba Oke Babafemi expressed concerns over the high cost of farmland, adding that it was discouraging new entrants from going into agriculture.

    According to him, the rapidly evolving landscape of Epe is witnessing a dramatic shift as the encroaching urban sprawl transforms what was once a quiet agricultural hub into a competitive real estate frontier. As development moves closer to the hinterlands, he noted that the rising cost of land has become a central concern for those attempting to maintain the area’s farming heritage.

    “The lands are becoming quite expensive, very, very expensive now,” he noted.

    When asked about current rates, he said: “An acre goes for N6 million in Epe.”

    Farmland values across the country have continued to rise with an acre selling for between  N2 million and N8 million depending on the area.

    For instance, two acres of farmland were put up for sale at N3.6 million at Atan, Ota, Ogun State. These would have been half the price in 2018.

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    Acres of farmland for sale at Siun, Ogun State, off Lagos-Ibadan Expressway, are selling for N2.5 million per acre. In Ijebu, Ogun State, an acre of farmland sold for N800, 000.

    From The Nation findings, farmlands are only affordable at the outskirts.  For example, six hectares of farmland at Paiko around Abuja is sold for N6 million.

    According to industry expert , Debo Thomas, the c surge in the cost of farmland across  the country  is a trend driven by a tightening squeeze on available space,

    Addressing the rapid appreciation of property values, Thomas, Chief Executive, Hastom Food & Farms Limited, noted that the market is reacting to a fundamental reality of geography and growth. “It’s a trend that is going to happen anyways. Because if you look at the size of Nigeria, we all think Nigeria is peak, but Nigeria is actually not peak,” he explained.

    Thomas highlighted a startling geographical comparison to illustrate why land is becoming a premium commodity. His words: “While Nigeria holds the largest population in Africa and one of the highest globally, its physical footprint is surprisingly limited. If you look at our land size, our land size is almost the same as the size of Namibia,” Thomas pointed out, noting that Namibia’s population is only about 2 million people. This disparity underscores a looming crisis of space. “People need more land to build, people need land to farm. And people have seen the future that land is going to be more scarce. The pressure on local resources is being further intensified by a massive influx of international interests. Thomas observed that global players have recognised that Africa holds roughly 60 to 70 per cent of the world’s arable land, leading to a surge in acquisitions. “People need more land to build, people need land to farm.  They  have seen the future that land is going to be more scarce. And foreigners too are not helping the matter. They are really coming here to buy land,” he explained.

     Thomas noted  “ if you travel from Ore to Edo State, the presence of international investors is undeniable. They are buying a serious amount of land for agriculture. They are planting Malina or Teak… they are manufacturing newsprint , paper and so many things like that.”

    He noted that the rising costs of land is showing  no sign of reversing. “The demand for land is high. The supply of land is less than demand. They are buying a serious amount of land for agriculture. “

  • AfDB, Nedbank Group partner on South Africa’s housing

    AfDB, Nedbank Group partner on South Africa’s housing

    African Development Bank Group (AfDB) and Nedbank Group have signed a landmark deal to boost access to affordable housing in South Africa and strengthen trade across the continent.

    The financing package comprised two components: a ZAR 2.5 billion social bond investment in Nedbank Group Limited and a $60 million trade finance Risk Participation Agreement with Nedbank Limited of South Africa.

    Together, the initiatives aimed to narrow   the continent’s trade finance gap, accelerate intra-African trade, and improve access to housing—two essential drivers of inclusive economic growth.

    The social bond is listed on the Johannesburg Stock Exchange, with proceeds channeled through Nedbank’s Sustainable Finance Fundraising Framework.

    Funding will prioritise affordable housing for women and first-time homeowners, as well as green-certified units, reinforcing the Bank and Nedbank’s shared commitment to gender equality, climate resilience, and financial inclusion. The bond will contribute to achieving AfDB ‘s  vision for inclusive growth.

    “This partnership builds on our shared commitment to drive financial access for underserved communities and transform living conditions across South Africa.It marks a significant milestone in our nearly two-decade relationship with Nedbank Group, unlocking critical financing where it’s needed most while strengthening our financial system’s resilience,” AfDB ‘s Director General for Southern Africa, Kennedy Mbekeani said.

    The $60 million trade finance Risk Participation Agreement will provide crucial credit risk cover for Nedbank’s partnership with local banks issuing documentary letters of credit and similar trade instruments across the continent, including in Low-Income Countries and Transition States. The mechanism will help close the continent’s trade finance gap and accelerate intra-African trade.

    Read Also: AfDB hails Ekiti over payment of N1.45bn compensation to landowners

    “This landmark partnership with the AfDB Group represents a pivotal step in our drive to deliver real impact for communities across South Africa and the continent. By mobilising funding for affordable housing, especially for women and first-time buyers, and supporting trade finance for local banks, we are helping to unlock opportunities for inclusive growth and sustainable development. It underscores our commitment to enabling financial access, fostering climate resilience, and driving economic transformation through innovative, purpose-driven sustainable financing,” Chief Executive, Nedbank Group, Jason Quinn said. 

    The AfDB ‘s Director for the Financial Sector Development Department, Ahmed Attout, said: “We are proud of our shared commitment to sustainable financing, particularly through local debt capital markets. This intervention builds on our previous support in 2020, when we invested in Nedbank’s inaugural green bond to support renewable energy access in South Africa. It also demonstrates the Bank’s leading role in bridging the continent’s trade finance gap.”

    The initiative aligns with AfDB ‘s  Ten-Year Strategy (2024 – 2033) to transform African economies through industrialisation, regional integration, and improved quality of life for all Africans.

  • ‘Tech-driven solutions pivotal to socio-economic growth’

    ‘Tech-driven solutions pivotal to socio-economic growth’

    Qualcomm Technologies Incorporated has identified the development of innovative tech-driven solutions as pivotal to transforming the continent’s social and economic transformation.

    Its Vice President International Government Affairs, Elizabeth Migwalla, who spoke virtually during the announcement of successful completion of its third annual Make in Africa (QMIA) Startup Mentorship Program, marked by the virtual Make in Africa Finale 2025, expressed satisfaction with this year’s cohorts’ ingenuity.

    “This year’s cohort has demonstrated incredible ingenuity, transforming complex challenges into scalable, tech-driven solutions that will drive social and economic impact across the continent,” she said, adding that the initiative underscores Qualcomm’s long-term commitment to fostering Africa’s vibrant innovation ecosystem through the broader Qualcomm Africa Innovation Platform.

    Also speaking on the occasion, the African Telecommunications Union (ATU) said it is working to harmonize spectrum management policies, regional standards, and open data practices, adding that true progress relies on large-scale support.

    Its Secretary General, John Omo, said: “Innovation is the driving force behind Africa’s future, and this year’s startups are a brilliant demonstration of that. ATU is proud to partner with Qualcomm for the Make in Africa 2025 program.

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     “We are working to harmonize spectrum management policies, regional standards, and open data practices, but we know that true progress relies on large-scale support. That’s why we call on governments, universities, investors, and industry to support these initiatives – and any endeavor that places African ingenuity at the forefront.”

    The 2025 Qualcomm Make in Africa program supported 10 innovative startups from Nigeria, Kenya, Tunisia, Benin and Senegal, each addressing local challenges by developing tech-enabled solutions across critical sectors such as healthcare, sustainable agriculture, climate resilience and mobility.

    This year, the program attracted more than 400 applications from 19 countries, showcasing remarkable talent across the continent.

    Farmer Lifeline, of Kenya, was announced as the 2025 Wireless Reach Social Impact Fund winner, recognizing its impactful use of wireless technology.

    Applications for Qualcomm Make in Africa 2026 are now open. Applicants can visit the Qualcomm website to apply.

    As a flagship initiative of Qualcomm, the equity-free program shines a spotlight on the creativity and drive of African founders leveraging advanced technologies such as AI, 4G/5G, robotics, connectivity and IoT to address pressing real-world challenges.

    Now in its third year, the program remains steadfast in its mission to accelerate early-stage technology startups by providing tailored mentorship, targeted business coaching, expert engineering consultation and comprehensive intellectual property protection guidance – exemplified by resources such as Qualcomm’s L2Pro Africa training. This holistic support empowers founders to transform their visionary ideas into sustainable, market-ready solutions.

    The 2025 cohort includes the following groundbreaking startups Aframend (Nigeria): Uses AI to explore African medicinal plants for new drug discovery and aims to turn local remedies into safe, affordable treatments for diseases; AmalXR (Tunisia): Offers AI-powered virtual rehabilitation sessions on everyday devices, enabling easy patient and clinician progress tracking; Archeos (Benin): Automates fish farming with solar-powered sensors and feeders, providing real-time data on water quality and feeding levels for improved fish health and ClimatrixAI (Nigeria): Installs connected weather and flood stations with an AI platform to forecast street-by-street risk, enhancing early warnings and disaster response for local communities.

    Others are Ecobees (Tunisia): Builds smart hive monitors and a digital platform for real-time insights into beehive-health, to protect bees and crops that depend on them; Edulytics (Senegal): Applies AI on handheld ultrasound devices for early detection of liver disease, aiming to make this special screening widely accessible; Farmer Lifeline (Kenya): Deploys small, solar-powered devices that scan fields for pests and diseases and send alerts straight to farmers’ phones to protect crops; Pollen Patrollers (Kenya): A women-led agritech startup using connected hive technology and AI to keep bee colonies healthy; Solar Freeze (Kenya): Provides solar-powered cold rooms with remote monitoring enabling farmers to keep fruits and vegetables fresh and increase earnings; and Pixii Motors (Tunisia): Designs electric scooters with smart batteries that can be swapped in and out at local stations, aiming to revolutionize urban mobility.

    Kenyan innovator, Farmer Lifeline, was announced as the winner of the 2025 Wireless Reach Social Impact Fund. The fund, sponsored by Qualcomm Wireless Reach Initiative, champions the innovative use of wireless connectivity to address pressing communities. As the winner, Farmer Lifeline will receive dedicated funding and tailored technical support to scale its groundbreaking solution.

    “Farmer Lifeline stood out with its innovative small solar-powered devices that scan fields to detect pests and diseases. This technology enables local farmers to effectively protect their crops, significantly increase yields, and improve food security. Their visionary approach and dedication to agricultural resilience have positioned them as leaders in their field. They are driving meaningful change for smallholder farmers and inspiring others across the continent. This fund will empower them to scale their impact further, enabling broader reach and deeper influence across Africa and the world,” Vice President, Wireless Reach, Qualcomm Incorporated, Erica Ciaraldi, said.

    In recognition of the groundbreaking innovations demonstrated by all finalists, each will receive stipends designed to accelerate their growth, support strategic development and safeguard their intellectual property. This comprehensive support underscores Qualcomm’s commitment to fostering innovation and ensuring these visionary projects can thrive sustainably.

    Looking ahead: Launch of Qualcomm Make in Africa Startup Mentorship Program 2026

    Building on the significant success of previous years, Qualcomm is excited to launch the fourth year of the program in 2026.