Economy
Agric will Produce Africa’s Next Billionaires—AfDB
** Makes Case for Young Farmers
By Dipo Olowookere
If the world can support young farmers in Africa, the problem of youth employment plaguing the continent would be solved.
That was the submission of the African Development Bank (AfDB), which wants global support for Africa’s young farmers and “agripreneurs”, highlighting how agribusiness can achieve this goal.
In collaboration with the Initiative for Global Development, the Association of African Agricultural Professionals in the Diaspora (AAAPD), Michigan State University, Iowa State University, and the International Institute of Tropical Agriculture, the AfDB brought together stakeholders to discuss how to expand economic opportunities for Africa’s youth throughout the agricultural value chain, from lab to farm to fork.
The session titled “Making Farming Cool: Investing in future African farmers and Agripreneurs” was held on the sideline of the 2017 World Food Prize Symposium-Borlaug Dialogue in Des Moines, Iowa, and had in attendance young entrepreneurs from Africa, private sector representatives, policymakers and thought leaders.
Africa has the world’s youngest population with 60 percent being under 35 years old. There are 420 million youth aged 15-35 and this segment of the population is expected to double to 840 million by 2040.
Working with the International Institute for Tropical Agriculture (IITA), the AfDB is empowering young farmers under the Empowering Novel Agri-Business-Led Employment (ENABLE) Youth program.
“Africa’s next billionaires are not going to come from oil, gas, or the extractives. ENABLE Youth is about investing in small agribusinesses today so that they can grow into large enterprises tomorrow,” President Adesina said.
“By empowering youth at each stage of the agribusiness value chain, we enable them to establish viable and profitable agribusinesses, jobs and better incomes for themselves and their communities.”
He explained how attracting a new cadre of young, energetic and talented agripreneurs – who will drive the adoption of new technologies throughout the value chain, raise productivity and meet rising food demands – is an urgent priority.
Recent studies indicate that as African economies transform, there are expanding opportunities for youth employment and entrepreneurship throughout high-potential value chains – literally from lab to fork – where consumer demand is increasing, including horticulture, dairy, oilseeds, poultry and aquaculture.
In addition, there are huge opportunities for engaging African youth in services and logistical sectors in key off-farm activities such as transportation, packaging, ICT and other technology development and light infrastructure – that add value to on-farm productivity and efficiency, in ways that could not envisioned before.
The whole idea of connecting farms to markets, particularly rising urban and regional markets, is where Africa needs to plug in this bulging youth population, Mr Adesina said.
The Bank President highlighted major efforts needed to provide young Africans with new business opportunities, modern and practical skills, access to new technologies, land, equipment and finance that will allow them to transition from subsistence livelihood into higher-paying work, whether these are on or off the farm.
In his words, “This is how we intend to make farming cool!”
Through the ENABLE Youth program, the AfDB and its partners are empowering youth at each stage of the agribusiness value chain with plans to train 10,000 agriculture entrepreneurs, or “agripreneurs”, in African countries, launching at least 300,000 enterprises and creating 1.5 million jobs over the next 5 years.
Africa already has shining examples of successful youth agripreneurs, nine of whom were in the room as Mr Adesina spoke.
He cited three examples of the thousands of young agripreneurs whose fascinating stories fill him with a sense of hope and urgency.
“We need to effectively utilize this African diaspora in the same way done by the Asian countries by leveraging on their expertise to fast-track Africa’s development agenda and allow all Africans to contribute, regardless of whether they are based locally within the African continent, or outside,” Mr Adesina noted.
On agribusiness as a solution to Africa’s youth unemployment, Jennifer Blanke, AfDB’s Vice-President, Agriculture, Human and Social Development, called for access to finance for the youth agripreneurs by re-aligning incentives for commercial banks and other financial institutions to reduce lending risks.
“There are over 15 job groups along the whole agricultural value chain – from farm to fork,” she said.
Noel Mulinganya, a young agripreneur and leader of the Kalambo Youth Agripreneurs (a group of 20 young graduates aged between 25-35 years old from different academic backgrounds engaged in collective agribusiness enterprises), spoke of the need for funding opportunities for young African farmers.
“My aspiration and those of my colleagues is to become business builders,” he said. “We would like this program to be a platform for sharing our knowledge and experiences in order to touch and engage youths as much as we can in agribusinesses.”
Lilian Uwintwali, whose firm provides ICT platforms that serve over 10,000 farmers in Rwanda − linking farmers to markets, banks, insurance companies and extension services, said, “I aspire to get partnerships and investment opportunities here in the USA and I believe the discussions here at conference will help me shape a better business model for my project, m-lima, in Rwanda.”
She speaks of how farming could generate income for African youth.
“I am talking from experience because it has sustained me for the past 5 years,” she said.
By Aduragbemi Omiyale
The Series II of the Coronation Infrastructure Fund (CIF) has received the approval of the Securities and Exchange Commission (SEC).
This was confirmed by Coronation Asset Management, which is floating the investment tool, which attracted N8.79 billion from 33 investors across four investor categories during its Series I issuance.
Business Post gathered that the net proceeds from the Series II offer will be deployed to provide debt financing for infrastructure and infrastructure-related projects, companies and Special Purpose Vehicles in line with the fund’s investment objectives and policies.
Already, about N3.31 billion has been distributed in income to unit holders, reflecting its disciplined investment approach and ability to originate, structure, and manage infrastructure credit investments that deliver sustainable, risk-adjusted returns while preserving capital.
A signing ceremony was recently held at Coronation Plaza in Lagos to formally bring together the fund’s transaction parties, marking the completion of a critical regulatory milestone and paving the way for the opening of the Series II offer for subscription. The next phase will see the fund complete the remaining regulatory notification requirements ahead of the public offer.
“Today’s signing marks an important step towards the launch of the Series II offer. It reflects the strength of our partnerships, the confidence of our regulators and the disciplined approach we have taken in managing the fund since inception.
“Series I demonstrated strong demand for well-structured infrastructure investment opportunities that deliver attractive risk-adjusted returns alongside real economic impact.
“With Series II, we are building on that track record by connecting long-term capital with infrastructure projects that support Nigeria’s growth while creating lasting value for our investors,” the chief executive of Coronation Asset Management, Mr Aigbovbioise Aig-Imoukhuede, said.
Also commenting, the Head of the Coronation Infrastructure Fund, Mr Mayowa Ikotun, said, “Series II is designed to build on the strong foundation established by the inaugural issuance. The Fund will continue to target a diversified portfolio of infrastructure debt opportunities across telecommunications, transport, energy, utilities, social infrastructure and real estate, investing in projects with resilient cash flows and strong credit fundamentals.
“Our objective remains to provide investors with attractive long-term risk-adjusted returns while helping to bridge Nigeria’s infrastructure financing gap.”
By Adedapo Adesanya
The Emir of Kano, Mr Muhammadu Sanusi II, has commended the Central Bank of Nigeria (CBN) for its economic reforms, saying they have restored macroeconomic stability and driven economic growth beyond the country’s population growth rate.
Emir Sanusi, a former Governor of the central bank, made the remarks while speaking at the ongoing 31st Nigerian Economic Summit in Abuja.
According to the former banker, the apex bank inherited an economy weakened by years of excessive liquidity and rapid money supply growth but had succeeded in reversing the trend through tighter monetary policies.
“I have nothing but positive words for what the central bank has done. We are coming from the background of a very high level of instability as a result of loose money and uncontrolled growth in money supply.
“The central bank has taken one year to mop up all that money,” the monarch said, according to a video from the event that has circulated widely.
Speaking on the impact of the reforms, Mr Sanusi added: “This is the first time that this economy will be growing faster than the population.”
The remark suggests that the country’s gross domestic product (GDP) growth is expected to outpace its population growth rate of about 2.1–2.5 per cent annually, implying an increase in per capita income.
This means the economy is expanding fast enough to raise average output and income per person, rather than merely keeping pace with population increases.
The reforms introduced by the Yemi Cardoso-led CBN have centred on restoring macroeconomic stability and rebuilding investor confidence. Key measures include adopting a more market-driven foreign exchange regime, tightening monetary policy through successive interest rate hikes to curb inflation, and clearing a significant portion of the foreign exchange backlog owed to businesses and investors.
The apex bank has maintained that these policies are designed to stabilise the naira, improve liquidity in the FX market, attract foreign investment, and lay the foundation for sustainable economic growth.
Running low on data with no airtime to spare, but you’ve got an unused gift card sitting in your email or phone? You’re not alone.
A lot of Nigerians receive gift cards from friends, family abroad, or clients, but have no real use for them. Meanwhile, data is one of those everyday needs that can’t wait. So the question comes up often: can you actually use a gift card to buy data in Nigeria? Let’s get into the answer.
Is It True That You Can Use Gift Cards to Buy Data in Nigeria?
Yes, you can buy data using your gift cards, but not directly.
Let’s clear up the confusion first. You cannot hand your Apple or Amazon gift card code directly to MTN, Airtel, or Glo and expect them to accept it as payment for data. Telecom networks don’t have any system for redeeming gift cards. They only take cash, bank transfers, USSD payments, or app-based payments.
So where does the idea come from? It comes from the workaround that’s become common practice: converting the gift card into cash first, then using that cash to buy data the normal way. This is where a gift card trading platform like Cardgoal comes in. Instead of a gift card sitting unused because you have no matching account to redeem it on, or no interest in what the card offers, you trade it in for real Naira. From there, buying data is as simple as it always is.
In other words, “buying data with a gift card” isn’t a direct swap. It’s a two-step process that takes just a few minutes when you use the right platform. And once you understand this, it opens up a genuinely useful way to make idle gift cards work for you.
How to Buy Data in Nigeria with a Gift Card? Step-by-Step
Here’s exactly how the process works from start to finish:
Step 1: Sell Your Gift Card on Cardgoal
- Download the Cardgoal app from Google play store or Apple App store
- Sign up and select the gift card you’re holding
- Enter the card’s value and code
- Get the details verified
Step 2: Get Paid Instantly
Once your card is verified, your payout is sent straight to your Cardgoal Wallet. This is the core value of using a trading platform over trying to sell a card informally to a stranger online. You can use this value to pay bills including data and airtime purchases. You get your gift card value quickly and securely, without the risk of being scammed or shortchanged.
Step 3: Use the funds to Top Up Data
With your gift card value in Naira now in your account, you can top up data directly within the Cardgoal app.
- Go to Pay Bills
- Tap on “Buy Data”option
- Select your network: — MTN, Glo, Airtel, or 9mobile.
- Enter the phone number to recharge.
- Input the amount you want to buy.
- Confirm the transaction — and your preferred data arrives almost instantly.
By this method, you can;
Whichever network you’re on, the cash from your gift card sale spends exactly the same as money from any other source, because at this point, that’s exactly what it is.
Why Use Cardgoal To Buy Data in Nigeria Instead of Other Methods?
There are informal ways to try converting a gift card into value, like posting it in a WhatsApp group, negotiating with a random buyer on social media, or asking around for anyone willing to take it off your hands. None of these are reliable, and most come with real risk of being underpaid or scammed outright. Here’s why selling gift cards through a proper platform makes more sense:
- Instead of waiting days for someone to respond to a post, verification and payout on a dedicated platform typically happen within minutes.
- Fair, transparent rates. You can see the going rate for your specific card before you commit to the trade, rather than negotiating blindly with a stranger.
- Verification checks confirm your card is valid and correctly priced, protecting you from common scams like fake buyers or already-redeemed codes.
- Convenience of one app. Beyond gift card trading, Cardgoal also supports airtime and data purchases, bill payments, and rewards. So once your card is converted to cash, you not even need to leave the app to complete your data top-up.
- No back-and-forth. There’s no haggling, no waiting for a buyer to “confirm” payment, and no uncertainty about whether the trade will actually go through.
For anyone who regularly ends up with gift cards they don’t need, this turns what would otherwise be a stagnant asset into something genuinely useful like data, airtime, bills, or straight cash.
Turn Your Unused Gift Card Into Data Today
If you’ve been sitting on a gift card with no real use for it, there’s no reason to let it go to waste. Selling it for cash and buying data with the proceeds is quick, safe, and puts real value back in your hands
Download the Cardgoal app today, sell your gift card, and buy data on your preferred network in minutes.
