The Secretariat of the African Union High Level Panel on Illicit Financial Flows released a new report, Successes and Challenges of Implementing the Recommendations of the African Union High Level Panel on Illicit Financial Flows, which indicates that most African countries fall short of meeting the institutional, policy and law enforcement requirements to effectively contain IFFs says an official statement issued in Addis Ababa,Friday. The report, launched on Wednesday, August 27, 2025, shows that the continent lacks an effective coordination mechanism for a coherent and coordinated action against the scourge of…
Category: ECONOMY
Mahama courts Singapore investors, touts 24-hour economy as gateway to $3.4 trillion AfCFTA market
President John Dramani Mahama on Tuesday used the opening of the 8th Africa–Singapore Business Forum to pitch Ghana as a “reliable gateway” to the African Continental Free Trade Area (AfCFTA), calling Africa “investable” and urging deeper South–South partnerships amid a more fragmented global economy. “We are here to learn, to partner, and to deliver,” President Mahama said at his first engagement on a three-day state visit to Singapore. “Africa is investable, and Ghana is your reliable gateway to the continent.” Framing Africa and Asia as the world’s “two youngest, fastest‑urbanising…
Rule of law is Africa’s new gold: African Development Bank Group’s (AfDB’s) Adesina calls for bold legal and governance reforms to unlock prosperity
NAIROBI, Kenya, August 16, 2025/ — “When Africa stands for the rule of law, the world will stand with Africa,” the President of the African Development Bank Group (www.AfDB.org), Dr Akinwumi Adesina, has told more than 1,200 lawyers, judges, and government officials attending the Kenya Law Society’s 2025 Annual Conference. Delivering the closing keynote, title Public Finance, Governance, Justice and Development, Dr. Adesina drew a clear link between judicial independence, sound public finance, and sustainable economic growth. He stressed that Africa’s true wealth lies not only in its natural resources but…
Bank of Algeria joins Pan-African Payment and Settlement System (PAPSS) network, accelerating financial integration in Africa as Algeria prepares to host Intra-African Trade Fair 2025 (IATF2025)
The Pan-African Payment and Settlement System (PAPSS) launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has officially welcomed the Bank of Algeria into its growing network says an official statement issued in Cairo,Friday. Algeria,the statement noted, now becomes the 18th country of presence for PAPSS, marking a significant step in advancing Africa’s journey towards deeper financial integration. This development is expected to further support cross-border payments and enhance the regulatory framework governing intra-African trade.…
Global Africa Business Initiative (GABI) announces fourth Unstoppable Africa flagship event in New York
NEW YORK, United States of America, August 14, 2025/ — The Global Africa Business Initiative (GABI) (www.GABI.UNGlobalCompact.org) will convene the fourth edition of its annual flagship event, Unstoppable Africa, on September 21-22, 2025, at the Marriott Marquis Hotel in New York. CNN’s Larry Madowo and Al Jazeera’s Folly Bah Thibault will return as MCs. Unstoppable Africa is the leading African business forum outside the continent. Hosted by United Nations Secretary General António Guterres and H.E. Mahmoud Ali Youssouf, Chairperson of the African Union, the event will take place just before the 80th…
African Development Bank backs Artificial Intelligence (AI) training to boost Agenda 2063 implementation across Africa
LUSAKA, Zambia, August 12, 2025/ — The African Development Bank (www.AfDB.org) is supporting a new Artificial Intelligence (AI) training initiative to advance the implementation of Africa’s continental development blueprint, Agenda 2063: The Africa We Want (http://apo-opa.co/4miWmzo). Through its Joint Secretariat Support Office (JSSO), the Bank provided technical and financial backing for the 5th Annual Training Workshop for African Union Member States on harnessing AI for effective monitoring, evaluation, and reporting on the Second Ten-Year Plan (2024–2033) of Agenda 2063. The five-day workshop, held in Lusaka, Zambia, was jointly organized by the…
Regulatory Risk, Reputation, and the New Role of Comms in Africa (By Laila Bastati, Chief Commercial Officer, APO Group)
Why communications is now a compliance function – and what African markets reveal about risk, regulation, and trust in 2025 Strategic communications is in a pressure phase. Regulation is moving faster. Investors are watching harder. And public backlash arrives in hours, not days. Across industries, communications is no longer just about visibility – it’s about viability. For leaders in Africa’s most dynamic sectors, comms has become a frontline function for managing regulatory complexity, investor expectations, and social trust. It’s no longer optional. It’s operational. In Africa, where younger regulatory systems…
Nigeria: African Development Bank to join groundbreaking ceremony of Special Agro-Industrial Processing Zone in Oyo State
ABUJA, Nigeria, August 1, 2025/ — The Federal Government of Nigeria and the Oyo State Government will be joined by the African Development Bank (www.AfDB.org) for the groundbreaking ceremony of the Oyo State Special Agro-Industrial Processing Zone (SAPZ). Headlining the ceremony, to be held 2 August 2025 in Ijaiye, Akinyele Local Government Area, will be Nigeria’s Vice President, Kashim Shettima, African Development Bank Group head, Dr. Akinwumi A. Adesina, and Oyo State Governor, Engr. Seyi Makinde, alongside senior government officials, development partners, and private sector leaders. The SAPZ Programme is…
2025 Country Focus Report: Burkina Faso urged to make better use of national resources to finance its development
ABIDJAN, Ivory Coast, July 31, 2025/ — The African Development Bank’s 2025 Country Focus Report for Burkina Faso (www.AfDB.org), the national version of the African Economic Outlook, was officially launched on 18 July 2025 in Ouagadougou. The ceremony was chaired by Souleymane Nabolé, Technical Advisor, representing the Minister of Economy and Finance, in the presence of Daniel Ndoye, the Bank Group’s Country Manager for Burkina Faso. Run virtually, the session brought together more than 80 participants from the public administration, technical and financial partners, the research community and the private…
Global Investment in African Gold Surges Ahead of African Mining Week (AMW) 2025
CAPE TOWN, South Africa, July 30, 2025/ — Africa – the world’s second-largest gold-producing region after China – is seeing a marked increase in gold mining investment in 2025. Driven by strong global demand, favorable prices and vast untapped reserves, international financiers are stepping up support for gold projects across the continent. In June, Canadian firm Asante Gold secured a $470 million financing package from Appian Capital and South Africa’s FirstRand Bank to expand the Chirano Mine and advance the Bibiani Project in Ghana – Africa’s leading gold producer and…