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issue 606 | 10 Aug 2025

Africa

World Bank Group joins AfDB Group and Mastercard as co-chair of MADE Alliance

The World Bank Group has signed on as co-chair of the Mobilizing Access to the Digital Economy (MADE) Alliance: Africa, an initiative aiming to provide digital access to critical services for 100 million individuals and businesses across Africa by 2034. The World Bank Group joins current co-chairs and founding members, the African Development Bank (AfDB) Group and Mastercard, aligning collective efforts to deliver critical digital services across the African continent. The MADE Alliance aligns with the World Bank Group’s efforts to accelerate digitalisation by expanding access to secure, affordable, high-quality broadband and data connectivity, and ensuring different digital services work together seamlessly to benefit users. The World Bank Group will contribute to the MADE Alliance, its expertise, data driven insights, and experience, supporting sustainable digital transformation. The MADE Alliance is currently targeting opportunities in the agriculture sector, where digital technologies can serve as powerful catalysts for development. 

Source: World Bank

Africa / United States

African countries encouraged to continue engaging US on trade tariffs

African countries have been advised to engage the United States (US) on Washington’s newly-imposed trade tariffs. These range from 10-30%, with four countries, Libya, South Africa (SA), Algeria and Tunisia, facing some of the highest imposed by President Donald Trump’s administration. Experts believe the tariffs will have ripple effects on products that are only aimed at the US markets. Countries such as Zimbabwe, have offered to unilaterally eliminate tariffs on US imports, while others like Uganda, have resolved to build more resilient and self-sustaining domestic economies. SA International Relations and Co-operation Minister, Ronald Lamola says Pretoria will continue to engage Washington. Lamola says this also gives SA an opportunity to diversify its trading partners, adding that Africa should also consider the African Continental Free Trade Area for intra-African trade and economic integration. 

Source: SABC

East Africa

EAC launches regional customs bond to unlock trade efficiency

The East African Community (EAC) has launched the EACBond, a regional customs guarantee instrument that replaces the need for multiple national bonds when transporting goods across partner states. By allowing traders to secure their entire cargo journey with a single bond, the EACBond will significantly reduce trade costs, ease border delays and free up business capital. The bond was officially launched in Kampala, Uganda, at a high-level event attended by government representatives, logistics firms, banks, insurance providers and customs officials. The bond is launching with Uganda, Kenya, and Rwanda in the pilot phase. The full rollout will progressively include all EAC partner states, coordinated through customs authorities. Compliance will be enforced through automated systems linked with customs and cargo tracking, ensuring that all movements are monitored and risk managed. A customs bond is a financial guarantee that ensures the government can recover duties or taxes if a trader fails to comply with customs regulations. Traditionally, traders moving goods from the Port of Mombasa to destinations like Kampala or Kigali are required to post separate bonds or cash deposits at every border crossing, locking up capital at each step and inflating trade costs. The EACBond eliminates these repetitive requirements by providing one bond that secures the entire movement of goods across EAC partner states.

Source: EAC

East Africa

Save the date – East African Community (EAC) Merger Control Framework to launch on 1 November 2025

The East African Community Competition Authority (EACCA) has announced that from 1 November 2025, it will begin accepting notifications of mergers with cross-border effects. This marks a significant development in the region’s competition law landscape. The EACCA’s jurisdiction covers eight EAC partner states, namely: Burundi, the Democratic Republic of the Congo, Somalia, Kenya, Rwanda, South Sudan, Uganda, and Tanzania (collectively, the Community). The new regime will therefore apply to mergers that have a cross-border effect within the Community. 

Source: ENS 

Southern Africa

Launch of EUR25-million EU-funded ATCMA SADC Programme supporting trade competitiveness and market access in SADC region

The Southern African Development Community (SADC), in partnership with the European Union (EU), the United Nations Industrial Development Organization (UNIDO), and the International Trade Centre, officially launched the Africa Trade Competitiveness and Market Access (ATCMA) – SADC Programme. The EUR25-million EU-funded regional initiative is designed to enhance trade competitiveness, strengthen regional quality infrastructure, and boost intra-African and Africa–EU trade. The ATCMA–SADC Programme was launched as part of the 8th edition of the SADC Industrialization Week, reinforcing the strategic alignment between economic transformation, regional integration and the Africa–EU partnership. The launch session brought together various stakeholders including high-level government representatives, policymakers, private sector, development partners and the media. The event also included extensive virtual participation, facilitating broader stakeholder engagement across the region.

Source: UNIDO

West Africa

Liberia and Sierra Leone activate free roaming under ECOWAS initiative

The initiative is seen as a crucial step towards realising the Economic Community of West African States (ECOWAS) goal of free movement of people, goods, and services, enhancing trade, tourism, and social ties across the region. The vision of a digitally connected West Africa is rapidly becoming a reality, as more ECOWAS countries implement free roaming agreements. Recently Liberia and Sierra Leone officially activated their free roaming service, allowing citizens to communicate across borders without incurring expensive international roaming fees. This latest development marks another significant milestone for the ECOWAS Free Roaming Initiative, which aims to foster regional integration and economic growth by eliminating barriers to communication. 

Source: TechAfrica News

Cabo Verde

AfDB launches Cabo Verde Country Focus Report 2025

The African Development Bank (AfDB) Group has launched the Cabo Verde Country Focus Report 2025, highlighting how the island country can optimise its capital to accelerate national development. The hybrid launch event, held in Praia and online, on 30 July, brought together senior government officials, including Cabo Verde’s Vice Prime Minister and Finance Minister Olavo Correia, development partners, academia, and private sector representatives. The report provides an in-depth analysis of Cabo Verde's economic trajectory, recording 7.3% real GDP growth in 2024, driven by a rebound in tourism and services. Growth is projected at 5.3% in 2025 and 4.9% in 2026. Macroeconomic indicators show a positive trend: inflation declined from 3.7% in 2023 to 1.0% in 2024, public debt dropped from 144% of GDP in 2021 to 107.7% in 2024, and the current account deficit narrowed to 0.9% of GDP in 2024. The launch event featured a panel discussion including Cabo Verde University Rector José Barreto, Cabo Verde Investment Agency President Jailson Oliveira, Central Bank Vice-Governor Teresa Henriques, and Procapital Fund representative Eugênio Moeda. 

Source: AfDB

Chad

Chad hosts a new stage of the AfDB’s GONAT initiative on natural resource governance

The African Development Bank (AfDB) Group has successfully concluded the Chad leg of the training and policy dialogue under the Governance of Natural Resources in Transition and Fragile States (GONAT) initiative, which focuses on improving natural resource governance in fragile and transitioning countries. Launched in 2023, the GONAT initiative carried out diagnostic studies, prepared training modules, and is now embarking on a series of in-country training sessions and policy dialogues aimed at helping African countries build capacity to tackle illicit financial flows and better manage resource-backed lending. Following previous sessions in the Central African Republic and Sierra Leone, Chad became the third country to host this high-level GONAT policy dialogue, focused on promoting more transparent and accountable management of extractive resources. The next sessions are scheduled for August in the Democratic Republic of the Congo and Mozambique. 

Source: AfDB

Equatorial Guinea

Europa Oil & Gas advances EG-08 farm-out agreement

Exploration and production company Europa Oil & Gas has announced its associated company Antler Global has entered negotiations to farm out part of its 80% interest in the EG-08 production sharing contract offshore Equatorial Guinea. As part of the negotiations, Antler Global signed a non-binding heads of terms agreement with an international energy company, marking a key step towards finalising a definitive agreement. Final agreements will be subject to approval by the country’s Ministry of Mines and Hydrocarbons. “The signing of these heads of terms is a very positive step forward and comes after an extensive period of negotiations with what we believe is an excellent partner,” stated William Holland, CEO, Europa Oil & Gas. Block EG-08 holds an estimated 2.1 trillion cubic feet of natural gas, with the Barracuda prospect – which is being actively explored by Europa Oil & Gas – accounting for 798 billion cubic feet. Antler Global holds an 80% working interest in the block, with the remaining 20% held by Equatorial Guinea’s national oil company GEPetrol.

Source: Energy Capital & Power

Lesotho

Lesotho textiles to struggle even with lower 15% Trump tariff, minister says

Lesotho's modified tariff rate of 15% may still not be enough to save its textiles industry, its trade minister said, a day after the United States (US) President Donald Trump lowered it from a devastating 50% rate he had threatened to implement earlier. In an Executive Order, President Trump modified reciprocal tariff rates for dozens of countries, including Lesotho, which had been under threat of a 50% rate since April, the highest of any US trading partner. "[It is] a mixed feeling," Lesotho Trade Minister Mokhethi Shelile told Reuters by telephone. "The sad part is that it is still not good enough... this will lead to job losses." Lesotho's textiles sector is its leading export industry, and it was heavily dependent upon the African Growth and Opportunity Act, a US trade initiative that offers qualifying African nations duty-free access to the US market. On the back of that preferential tariff, textiles were the tiny mountain kingdom's biggest private employer, with some 40 000 jobs and accounted for roughly 90% of manufacturing exports, according to Oxford Economics. Under the tariff threat, many US importers cancelled orders of Lesotho-produced textiles, leading to mass layoffs. Shelile indicated that the new tariff would be unlikely to reverse the carnage.

Source: Reuters

Namibia

Namibia considers 51% local ownership in new mining ventures

The government is actively consulting with mining industry stakeholders on a new policy that would require 51% local ownership in all new mining ventures. This was highlighted by the Deputy Prime Minister and Minister of Industries, Mines and Energy, Natangwe Ithete, during the opening of the 12th edition of the Mining Expo & Conference. “We believe that local empowerment is not only a matter of social justice, but also a cornerstone for long-term stability and sustainability in the sector,” he said, noting that the move is part of a broader push to ensure greater local participation and economic benefit from the country’s mineral wealth. According to Ithete, Namibia’s minerals are a national asset and are hope for social progression and improved livelihood. “It is therefore our collective responsibility to ensure that the exploitation of these resources results in tangible benefits for all Namibians,” he said. Ithete said the government is currently reviewing the Minerals Bill and will soon commence stakeholder consultations, especially in key regions where exploration and mining are taking place. “This process is essential to ensure that our laws are fit-for-purpose and reflect the ambitions of an equitable and modern mining industry,” he said. 

Source: Namibia Economist

Nigeria

Nigeria enacts sweeping reforms to insurance sector

Nigeria's President Bola Tinubu signed into law sweeping reforms to the insurance sector under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, his spokesperson has said. The new law consolidates decades-old legislation, introducing higher capital requirements, compulsory coverage mandates, and digitisation targets to modernise the sector. Nigeria’s insurance penetration of less than 1% is among the lowest in Africa, far behind South Africa’s 13.7% and Kenya’s 2.14%, according to regulator data. Despite this, gross premium written reached USD1.9-billion by the end of 2023 and is projected to hit USD7.84-billion by year-end, attracting global insurers like Sanlam and Allianz betting on long-term growth. The NIIRA Act mandates insurers to maintain minimum capital levels based on their risk profile: non-life insurers NGN25-billion (USD16.39-million); life insurers NGN15-billion (USD9.83-million); and reinsurers NGN45-billion (USD29.49-million). Firms failing to meet these thresholds could face mergers or acquisitions. “The NIIRA Act 2025 ushers in a new era of transparency, innovation, and global competitiveness for the insurance industry. It aligns with the federal government's vision of achieving a USD1-trillion economy," Bayo Onanuga, Spokesperson for President Tinubu, said.

Source: Reuters

Nigeria

Nigeria’s development transformation offers lessons at continental scale

Nigeria is a nation of immense potential, with abundant natural resources, a vast domestic market, and a dynamic, youthful population. Yet it also faces complex structural challenges: infrastructure deficits, fiscal vulnerabilities, unemployment, and an overreliance on oil revenues. Against this backdrop, the African Development Bank’s (AfDB) 2025 Country Focus Report on Nigeria presents a timely analysis of how reform, resilience, and partnership are helping to reshape the country’s development path at continental scale. Nigeria is taking decisive steps to diversify its economy, enhance domestic resource mobilisation, and restore macroeconomic stability. Recent policy shifts, including the removal of fuel subsidies and reforms to the foreign exchange regime, demonstrate strong political commitment to addressing long-standing distortions. These bold and often difficult decisions represent essential groundwork for unlocking investment and restoring fiscal space. The results have been significant. The AfDB’s Country Strategy Paper (2025-2030) commits USD2.95-billion over four years, with an additional USD3.21-billion in cofinancing from partners, focusing on making Nigeria’s capital work better for its development.

Source: AfDB

Republic of the Congo

Republic of the Congo adopts new Decree on Environmental Impact Assessments

The Republic of the Congo has adopted a draft Decree setting out conditions and procedures for conducting environmental and social impact studies. The new Decree replaces the previous Regulation dated 20 November 2009. It aims to provide an updated regulatory framework aligned with the Republic of the Congo’s economic diversification and sustainable development goals. The Decree outlines requirements for project developers to follow when preparing impact studies and sets technical guidelines for consulting firms responsible for conducting evaluations. It also establishes oversight mechanisms to ensure monitoring and enforcement by public authorities. The Regulation is part of broader efforts by the Congolese Government to strengthen environmental governance amid global climate challenges. It also reflects the country’s commitment to placing environmental considerations at the core of its development planning. “The Decree gives the administration the tools to monitor and control environmental integrity, ecosystems and public health in areas affected by development projects,” said Arlette Soudan-Nonault, Minister of Environment, Sustainable Development and the Congo Basin.

Source: Energy Capital & Power

Senegal

F.CFA64-billion required to expand telecommunications access

Senegal’s state-owned Universal Telecommunications Service Development Fund (FDSUT) has estimated that F.CFA64-billion is needed to extend connectivity to 1 540 localities by 2029. The funding would support the rollout of digital services in remote areas to enable access to basic public services. The initiative aligns with President Bassirou Diomaye Faye’s digitalisation agenda, which aims to boost service delivery, job creation and administrative modernisation. According to the FDSUT, there are still many zones without any connection in Senegal. A recent survey by Senegal’s National Agency for Statistics and Demography, in collaboration with the national telecommunications regulator, revealed stark connectivity gaps, in 2024, only 3% of rural households had internet access at home compared to 44% in Dakar. “We must continue raising awareness on the importance of universal service,” said Ndèye Fatou Ndiaye Diop Blondin, Coordinator, FDSUT. “This is an opportunity to reiterate the importance of FDSUT’s mission and push toward the goal of connecting 1 540 localities,” she stated.

Source: Energy Capital & Power

Tanzania

Tanzania’s digital payments surge to TZS30-trillion

Tanzania’s transition to a digital economy marked a major milestone last year, with the Tanzania Instant Payment System (TIPS) processing nearly TZS30-trillion in transactions. The number indicates a sharp increase, highlighting the country’s growing reliance on real-time digital payments. The Bank of Tanzania’s Financial Stability Report – December 2024 shows a significant rise in TIPS transactions, driven by rapid uptake of digital financial services and improved interoperability among providers. As of December 2024, the platform had processed 454 million transactions worth TZS29.90-trillion, up from 236 million transactions valued at TZS12.50-trillion during the preceding period. To date, 46 financial institutions, including banks and electronic money issuers, have joined the TIPS network, enabling faster, more secure, and more efficient retail transactions. “The system has emerged as a key pillar in Tanzania’s digital financial infrastructure, facilitating instant payments and promoting financial inclusion, particularly among underserved communities,” the report stated. In addition to its payment processing achievements, the Bank of Tanzania has strengthened the Financial Services Registry by incorporating Geographic Information System capabilities.

Source: The Citizen

Tanzania

Tanzanian president launches Chinese-built commercial, logistics hub

Tanzanian President Samia Suluhu Hassan has officially launched the East Africa Commercial and Logistics Center (EACLC), a transformative trade and logistics complex developed by Chinese enterprise EACLC LIMITED. Speaking at the launch ceremony in the port city of Dar es Salaam, President Hassan described the USD170-million facility as a flagship investment aimed at enhancing regional trade connectivity and deepening economic cooperation between Tanzania and China. Hassan said the EACLC will strengthen Tanzania's commercial ties with markets across the Common Market for Eastern and Southern Africa. Wang Xiangyun, Chairperson of the EACLC, said the facility, spanning more than 75 000 square metres and housing 2 060 shops, is the largest trade and logistics complex in Tanzania to date. She said by integrating bonded storage, customs clearance, e-commerce, supply chain finance, and re-export trade into one seamless platform, the centre is projected to reduce regional trade costs by 30%, create over 50 000 local jobs, and generate significant tax revenue to support national development.

Source: Xinhua

Togo

Seven Togolese banks join BCEAO’s instant payment network

Seven Togolese financial institutions have officially joined the West African Economic and Monetary Union’s (WAEMU) Interoperable Platform for Instant Payment Systems, the regional central bank, Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) announced in a recent press release. The pilot project aims to modernise and unify payment systems across member countries. The newly integrated banks include Banque Atlantique, BOA, COFINA, BIAT, CORIS Bank, Ecobank, and Orabank. Set for a formal launch on 30 September, the platform promises 24/7 real-time transaction capabilities across various account types – from traditional bank accounts to mobile money. This initiative is expected to cut transaction times and costs, while bolstering interoperability among diverse financial players. Notably, Ecobank and Orabank participated in earlier testing phases within Togo, supporting efforts to accelerate regional commerce through digital finance. Since early June, live user trials have been underway, evaluating the platform’s security and usability. Positive results from these tests pave the way for a full-scale rollout across the WAEMU region. 

Source: Togo First