World
AfDB Plans $3bn Loans for African Women-led SMEs
By Ahmed Rahma
In celebration of International Women’s Day and to mark the rollout of the Affirmative Finance Action for Women in Africa (AFAWA) Guarantee for Growth program, the African Development Bank (AfDB) and the African Guarantee Fund are introducing the first beneficiaries of the AFAWA Guarantee for Growth program.
The AFAWA Guarantee for Growth program is an innovation aiming to unlock up to $3 billion in loans to women-led small and medium-sized enterprises (SMEs).
In a statement, it was disclosed that the beneficiaries will be participating in an online panel event on Monday, March 8, 2021.
The event which is to be held virtually is co-organized by AFAWA and the African Guarantee Fund under the title, “Women entrepreneurs: key drivers of economic growth.”
According to the organizers, the virtual session will concentrate on how the AFAWA Guarantee for Growth program works with financial institutions to address the financial and non-financial needs of African women entrepreneurs, by offering access to finance, providing technical assistance and create an enabling environment to promote policy changes and regulatory reforms.
“The African Development Bank has mobilized its resources, and the support of its global partners, in what is to date, our most ambitious effort ever to change the landscape on access to finance for African women entrepreneurs,” said Vanessa Moungar, the Bank’s Director for Women, Gender and Civil Society.
The first participants in the program include; Catherine Mumbua Wanjoya, the founder of a company manufacturing biodegradable and affordable sanitary towels, and waste incinerators; Terry Mungai, the CEO of a beauty and hair care franchise institution; Mbuaya Kalenga Mdhy, who heads a semi-industrial sewing company; and hotelier Bijour Esther Monga Ilunga Kazadi.
The initiative targets financial institutions to increase their appetite to lend to women who are known to be better payers, and who reinvest up to 90% of their income in the education, health and nutrition of their family and community.
It also de-risks women entrepreneurs and enhances financial institutions’ appetite for lending to SMEs.
Supported by the Group of Seven (G7) countries as well as the Netherlands and Sweden, the AFAWA Guarantee for Growth program is implemented in collaboration with the African Guarantee Fund, which works to facilitate access to finance for SMEs in Africa.
“We have realized when talking to financial institutions that they don’t see AFAWA as a favour that we are doing to women. It is a huge business opportunity to tap into a customer segment that has not been explored before,” said Jules Ngankam, CEO of the African Guarantee Fund.
Esther Dassanou, Manager of AFAWA said financial institutions in Cameroon, the Democratic Republic of Congo, Kenya, Rwanda, Tanzania and Uganda are signing on to the program, and that the program could be a game-changer across the continent.
“The AFAWA Guarantee for Growth program is different and innovative from what is on the market, in the sense that it tackles all the major challenges that women entrepreneurs face in accessing financing and growing their business at the same time,” Dassanou added.
World
Nigeria Summons South Africa Envoy Over Xenophobic Attacks
By Adedapo Adesanya
Nigeria’s Ministry of Foreign Affairs has summoned South Africa’s Acting High Commissioner to complain about xenophobic attacks against its citizens, weeks after a similar complaint was lodged by Ghana.
The ministry called the meeting to convey “profound concern regarding recent events that have the potential to impact the established cordial relations between Nigeria and South Africa,” it said in a statement posted on X on Monday.
It noted that the country is aware of the growing discontent among Nigerians concerning the treatment of their nationals in South Africa, but implored calm while it plans to repatriate those willing to return home voluntarily, amid growing fears that recent attacks on foreigners there could escalate.
Foreign Minister, Mrs Bianca Odumegwu-Ojukwu, said 130 applicants had already registered for the exercise, adding that the number was expected to rise.
She expressed President Bola Tinubu’s concern about the attacks in the southern African nation, and condemned the violence against foreign nationals and demonstrations characterised by “xenophobic rhetoric, hate speeches and incendiary anti-migrant statements”.
“Nigerian lives and businesses in South Africa must not continue to be put at risk, and we remain committed to working to explore with South Africa ways to put an end to this,” she said.
She cited the killing of two Nigerians in separate incidents involving local security personnel, insisting that her government was demanding justice.
She said the Nigerian president’s priority was for the safety of citizens and “consequently, arrangements are currently underway to collate details of Nigerians in South Africa for voluntary repatriation flights for those seeking assistance to return home”.
According to reports, four Ethiopian nationals have also been killed in recent weeks, while there have been attacks on citizens of other African countries.
South African President Cyril Ramaphosa has condemned the attacks but also cautioned foreigners to respect local laws.
He used his Freedom Day address last week – marking the country’s first democratic elections in 1994 – to remind South Africans of the support other African nations had given in the struggle against the racist system of apartheid.
However, anti-immigrant groups in South Africa have accused foreigners of being in the country illegally, taking jobs from locals and having links to crime, especially drug trafficking.
They have also reportedly been stopping people outside hospitals and schools, demanding to see their identity papers.
Last month, Ghana summoned South Africa’s top envoy after a video was widely shared showing a Ghanaian man being challenged to prove he had the correct immigration papers.
Anti-immigrant sentiment rose earlier this year after reports that the head of the Nigerian community in the port city of KuGompo (formerly East London) had been installed in a traditional role often translated as “king”. Some South Africans in the local area saw this as an attempt to grab political power and kicked against it.
South Africa is home to about 2.4 million migrants, just less than 4 per cent of the population, according to official figures. However, many more are thought to be in the country without official authorisation. Most come from neighbouring countries such as Lesotho, Zimbabwe and Mozambique, which have a history of providing migrant labour to their wealthy neighbour.
World
United States Building Entrepreneurial Partnerships With Africa
By Kestér Kenn Klomegâh
Within the heightening of geopolitical tension, the United States is actively building diversified entrepreneurial partnerships with African countries, reviewing and restyling working relations with relevant institutions and adopting new policy frameworks largely based on African-led initiatives. The economic policy architecture concentrates more on bilateral partnerships, but with some variation of investments in infrastructure and exploiting natural resources, while taking into account the needs of individual African countries.
In the context of broadening economic dimensions, the Corporate Council on Africa (CCA) and the Government of the Republic of Mauritius have agreed to hold the 18th US-Africa Business Summit on July 26-29, 2026.
According to reports, Dhananjay Ramful, Minister of Foreign Affairs, Regional Integration and International Trade of the Republic of Mauritius and Ms Florizelle (Florie) Liser, President and CEO of CCA, signed the agreement on the sidelines of the United Nations General Assembly in New York.
The US-Africa Business Summit is one of the most important business platforms that annually brings together African Heads of State and Government, Ministers, high-level US and African Government Officials, CEOs, and senior executives of the US and African companies to explore investment, trade and commercial opportunities.
The selection of Mauritius as the host country for the 18th US-Africa Business Summit bears testimony to the deep commitment of the country to play a key role in strengthening a mutually beneficial trade and investment relationship between Africa and the United States. Both envision facilitating bilateral trade and building long-term and high-value economic partnerships.
Positioned at the crossroads of Africa and Asia in the Indian Ocean, Mauritius is recognised for its political stability, reform-driven economy, strong governance, innovation-friendly policies and high-quality local infrastructure. It offers a strong regulatory framework, a sophisticated financial services sector, and a proven track record as a gateway for investment into Africa. As a dynamic financial and trade hub, Mauritius is an ideal setting for the 2026 US-Africa Business Summit.
With momentum building across both public and private sectors, this Summit provides an excellent opportunity for participants to engage on critical issues impacting the US-Africa trade and investment relationship and strike landmark deals in key sectors such as energy, infrastructure, agri-business, health, ICT and financial services that will have a high impact on the lives of African and American citizens, enterprises, workers and consumers.
In a thoroughly analytical study, the CCA has broadened its operational focus to the entire Africa, strategically dealing with institutions that matter for implementing its economic policy initiatives. In order to ensure a significant degree of success, CCA is seriously addressing the complex diversities on the continent, explaining to leaders within the political structures the essence of large-scale cooperation.
Florie Liser, President & CEO of CCA, said: “We are delighted to bring the 2026 U.S.-Africa Business Summit to Mauritius, a country known for its strategic location, strong governance, and dynamic business environment. This Summit will provide a critical platform to strengthen U.S.-Africa economic relations, explore investment opportunities, and foster partnerships that will increase two-way trade.”
Liser underlined the fact that high possibility exists for stronger engagement through initiatives that support trade and investment (including renewal of the African Growth and Opportunity Act (AGOA), and continued policy and financing support by key US government agencies including the Export-Import Bank of the U.S. (Eximbank), Development Finance Corporation (DFC), US Trade and Development Agency, Departments of State and Commerce, US Trade Representative and others.
The Dhananjay Ramful, Minister of Foreign Affairs, Regional Integration and International Trade of the Republic of Mauritius, stated: “Mauritius is honoured to host the 2026 US -Africa Business Summit and play a key role in strengthening a mutually beneficial trade and investment relationship between Africa and the United States. Our nation has long been a bridge between Africa and the world, and we are committed to creating an enabling environment that encourages trade, innovation, and inclusive growth. Hosting this prestigious gathering further underscores Mauritius’ role as a hub for investment and partnership in Africa.”
The United States brings a distinct and compelling value proposition to partnerships in Africa, grounded in transparency, high standards, and a long-term commitment to mutually beneficial US-Africa economic and commercial partnerships. In addition, the US companies are known for delivering quality products and services, fostering innovation, and building partnerships that prioritise local value creation, skills transfer, and economic impact. These are not short-term engagements—they are investments designed to support businesses and growth on both sides of the Atlantic.
That means continuing to mobilise capital, support competitive US participation in African markets, and ensure that partnerships are responsive to the priorities of African countries. The role of the Corporate Council on Africa is to help bridge that gap—connecting businesses to opportunities, advocating for policies that enable investment, and ensuring that the US–Africa commercial relationship remains strong, competitive, and mutually beneficial.
The Corporate Council on Africa (CCA) is the leading US business association focused solely on connecting business interests in Africa. It encourages US-Africa private sector partnerships and advocates for a business climate conducive to long-term investment. Founded in 1993, CCA has been at the forefront of fostering strategic partnerships, promoting investments, and facilitating trade between the United States and the diverse nations of Africa.
World
Outcome of Russia-Congo Strategic Talks
By Kestér Kenn Klomegâh
Congolese President Denis Sassou Nguesso tightly embraced and shook hands with President Vladimir Putin, signalling the highest level of cordial friendship, and later settled down for official talks focusing on strengthening the multifaceted Russian-Congolese comprehensive strategic economic partnership, including in the context of the upcoming high-level third Russia-Africa Summit scheduled for October 2026.
In St George’s Hall of the Grand Kremlin Palace, Putin told his Congolese counterpart, Denis Nguesso, and the delegation that there were “good prospects for developing relations in a variety of areas” and reminded them that the full-fledged relations between Russia and the Congo have been making strides. Russian companies are ready and eager to work in the country’s market, primarily because the political situation has been stable, which is good for business. The Intergovernmental commissions are operational.
Denis Nguesso’s official visit, from April 28 to 29, has immense significance for the Kremlin. Moscow is stepping up to tackle important corporate investments ranging from an industrial and technological standpoints, which open pathways for knowledge transfer, human capital development, and Congo’s integration into defence innovation value chains. At the geo-strategic level, Moscow is seemingly positioning itself as a regional security hub and as an incredible partner, particularly in Congo, while strengthening a broader strategic influence in the central African region.
On the agenda, Russia will begin design work this year for the construction of an oil product pipeline in Congo, under an agreement signed in 2024. The Pointe-Noire – Loutete – Moluko-Tresho oil product pipeline that Russia plans to build in the African country under an intergovernmental agreement is supposed to go into operation by the end of 2029.
It was reported earlier that Russia is hoping to create a channel for shipping oil products that is protected from sanctions by building this pipeline in the Congo, as well as becoming a strategic partner in ensuring the energy security of the whole region. The agreement on the project, which was signed in Moscow on September 28, 2024, provides for the creation of favourable conditions to carry out the pipeline’s construction.
Under the agreement, the authorised organisations responsible for the implementation of the project are Zakneftegazstroy-Prometei LLC and the National Petroleum Company of Congo (SNPC), which is the client of the project. They will form a joint venture to carry out the project in which the Russian side will own a 90% stake and the Congolese side will hold 10%.
A build-own-operate-transfer concession agreement will be signed with the joint venture to build and operate the pipeline for 25 years, with a guaranteed price for transport that will ensure the utilisation of the pipeline and a return on investment in the project. The Russian Ambassador to Congo, Georgy Chepik, said earlier that the pipeline will run between the country’s two largest cities, Pointe-Noire and the capital Brazzaville.
In particular, the two sides discussed the prospects of implementing joint projects and forging mutual cooperation prospects in a wide range of areas, including geological prospecting, energy, logistics, agriculture, trade, and manufacturing. The sides also “noted readiness to gradually increase their transport cooperation. The Republic of Congo is seen as a key logistics hub in Central Africa and a crucial participant in a promising international transport route between Russia and the African continent,” the statement said.
Nearly 80% of the population still lives in abject poverty, even though the country boasts huge resources. Congo is the fourth-largest oil producer in the Gulf of Guinea, providing the country with a high degree of potential prosperity, despite its internal ethnic conflicts and economic disparity. It has a large untapped mineral wealth and large untapped metal, gold, iron, and phosphate deposits. In 2018, the Republic of the Congo joined the Organisation of Petroleum Exporting Countries (OPEC).
Historical records show that Denis Nguesso, several times as a civil servant during the Soviet era, and as president, visited Russia, including participation in the two Russia-Africa Summits held in Sochi and St. Petersburg, and consequently was gifted with a collage of photographs and Pravda newspaper clips documenting these visits. President Putin has also awarded him with the Order of Honour, while Moscow State University of International Relations (MGIMO) gifted him with a Doctorate Degree. The document, published on the Kremlin website, for instance, says Nguesso has been honoured with the award “for his major contribution to boosting and strengthening relations between the Russian Federation and the Republic of the Congo.”
Congolese Denis Nguesso, who has shuttled frequently between his city and Moscow, underlined the fact that bilateral relations have been developing for many decades. These are ties of solidarity and cooperation that bind the two parties in all areas, including security, defence, and the economy. He emphasised the point that the time has arrived to act more concretely, to accelerate the implementation of the jointly elaborated programme. Both parties will have the opportunity to sign more bilateral agreements in Brazzaville in September 2026, before the new Russia-Africa summit, to be held in Moscow.
The third Summit is expected to solidly reaffirm the development of relations between African states and the Russian Federation. For decades, Russia has supported Africa’s ideals for freedom, independence and sovereignty. Next, Russia-Africa cooperation has a big future. Africa is rich in resources. And Russia contributes to efforts to ease the debt burden that African countries are facing. The total debt Russia has cancelled, previously and so far, stands at $23 billion, according to reports.
In addition, Russia and African states have coordinated efforts for building a new, fairer global architecture, and further working together to protect international law, the UN Charter and the central role of that global organisation, while at the same time, trying to coordinate their positions on the main issues on the international agenda. African regional structures have substantially enhanced these geopolitical profiles, and within the general objectives of the African Union.
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