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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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ICT

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

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Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

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SEC DG: Digital Assets Represent $10tn Opportunity by 2030

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

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Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Capital Market

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

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Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

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The $100bn Gap: Hard, Soft Infrastructure Key to Africa’s Development

In one of the most anticipated side events during the African Development Bank’s annual meetings, the AFC Debate, the conclusion drawn was that infrastructure is much more than just about money.
In a panel discussion which included Andrew Alli, President and CEO of the AFC, Dr Donald Kaberuka, President of the AfDB, Dr Ngozi Onkono-Iweala, Minister of Finance of Nigeria and also Dr Eleni Gabre-Madhin, Founder and CEO of the Ethiopian Commodities Exchange, there was general concession that if infrastructure development hasn’t taken place as quickly as one would desire, it’s because it’s a complex problem which needs reform and consensus at a government and regional level.

The theme for the debate was Africa Transforming Africa, and Alli pointed that many infrastructure projects today are being implemented and financed by indigenous African institutions, citing the Main One undersea cable project as such.
“The advantage is an African will have a much more nuanced understanding of what’s happening in Africa and how to overcome certain problems” , he went on to say, although he did mention that there needed to be better co-ordination amongst regional countries to facilitate administrative procedures such as the approval of licences.
Kaberuka did defend the track record of Nepad, another African-led institution, stating that it had helped Africa develop and create its own framework and that without it, many projects that the Bank has financed would remain unknown.
What was also generally agreed was the size of the infrastructure gap, which, whichever way you see it, is a massive $50-$100 billion annually. There is money out there and Africa needs to be better at mobilising the emerging Sovereign Wealth Funds (SWF) and the funds which are idle in other countries.
Gabre-Madhin concluded by agreeing with Alli and said that regional economic communities can create the necessary templates to scale up successful initiatives. She also mentioned the importance of Africa’s youth bulge which could be a force for good as much as a force for destruction, and mentioned that it is critical to engage the youth in policy making.
AFC is an African-led international financial institution, established in 2007 whose mission is to improve African economies by proactively developing and financing infrastructure, industrial and financial assets. AFC is involved as an investor, developer and financier of various infrastructure projects, and is gaining recognition as the benchmark institution for financing the development of power projects in Africa.
AFC is the Technical Adviser to the Central Bank of Nigeria (CBN) on the CBN’s $2 billion Power and Aviation Intervention Fund (PAIF), and is also the lead investor, in conjunction with InfraCo, in Cenpower Generation Company Limited (Cenpower), which is implementing the $450 million Kpone IPP Project – a 340 megawatt combined cycle gas turbine power plant in Tema, Ghana.
The Corporation recently provided financing to a leading Independent Power Producer (IPP) in Nigeria. It is the lead investor in the Main One Fibre Optic Cable Project, enhancing West Africa’s connection to Europe and the rest of the world through faster and more technologically advanced broadband capacity.
It has invested in the international oil and gas exploration and production company, Seven Energy Limited, which is playing a pioneering role in developing alternative sources of natural gas for domestic use in the Nigerian power and manufacturing sectors.
Underscoring its expertise in investing in PPPs/PFIs in its focal sectors across the African continent, AFC is also an investor in the Bakwena Toll Road Project in South Africa.

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Topics

Fidelity Bank: Reaffirming Brand Promise Through Rebranding

In today’s corporate environment, three key ingredients are necessary for any organisation to remain relevant and profitable: Ability to engage the client; dynamism, and flexibility. Very few organisations have exhibited these traits over the past two decades more than Fidelity Bank Plc. The recent refresh of Fidelity Bank’s corporate identity, the latest in its 27-year history, speaks to these important traits and the need to remain relevant in the world of corporate giants.

COVID-19: AstraZeneca, BrandMed Commits to African Patients

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FirstBank, NLNG, Shell Back QEDNG Creative Powerhouse Summit

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Ghana Forecasts 5.4% Economic Growth in 2016

Ghana forecasts for 2016, an economic growth of 5.4%...

Fish Farmers Appeal to FG for Special Movement Permit amidst Lockdown

  To curb losses in the fish farming value chain,...

Union Bank Donates Two Vehicles to Ogun Govt

As part of its Corporate Social Responsibility (CSR) initiatives, Union Bank has donated 2 hilux vehicles to the Ogun State board of internal revenue to boost the agency’s effort in generating internal revenue for the State. The bank's Executive Director (Commercial Banking), Mr Adekunle Sonola, who presented the vehicles at the state secretariat in Oke-Mosan, Abeokuta, expressed support for Governor

Reinsurance: The Safety Net for Sustainable Insurance Growth in Africa

Insurance business has its elements of risk just as...
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