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Africa Trade Forum 2018 Begins Friday in Lagos

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By Dipo Olowookere

Stakeholders from various sectors will from Friday, November 2 gather in Lagos for the Africa Trade Forum 2018.

The event is hosted by Nigeria’s Ministry of Industry, Trade and Investment, and co-organised by the United Nations Economic Commission for Africa (ECA), The Rockefeller Foundation, and the African Union Commission (AUC).

During the programme, which ends on Saturday, November 3, participants will discuss the process for realizing the African Continental Free Trade Area (AfCFTA).

According to the organisers, attendees would be drawn from political and governance spheres, the private sector and entrepreneurs, philanthropies, academia, researchers, and development partners,

The AfCFTA was signed in March 2018 by 44 African countries and, if ratified, will become one of the world’s largest trading blocs.

It is also the biggest trade agreement signed since the World Trade Organisation (WTO) was established, bringing together 1.3 billion people with a combined gross domestic product (GDP) of more than $2 trillion in a single market. The agreement aims to provide improved competition and lower business costs.

The Forum’s purpose is to look into the challenges and opportunities of the AfCFTA in individual African states, and to better understand how AfCFTA can drive economic development and prosperity on the continent for all of Africa’s citizens.

“The idea of an integrated African market to industrialize Africa, spur growth, enhance welfare and create jobs has been around for a long time.

“However, with the actual emergence of the AfCFTA in 2018, the decision was taken by the government to mobilize stakeholders in the Nigerian economy to understand its details, interpret its opportunities and reorganize our economic system for coherence and coordination, if the opportunities of the AfCFTA are to be realized and maximized.

“This Forum is a unique opportunity to proactively engage with a wide range of stakeholders to ensure that AfCFTA works for Nigeria,” Nigeria’s Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, said.

The AfCFTA offers a long-awaited platform for Africa to ramp up its industrialization through various channels such as eliminating tariffs on intra-African trade, which will result in more competitive services that reduce business costs, improve business efficiency, and enhance value to consumers.

Economic Commission for Africa (ECA) Executive Secretary Vera Songwe says in an age of trade wars, Africa is sending a strong message that trade deals and reforms can be approached through consensus-building and cooperation, leaving no one behind.

“In order to ensure the African Continental Free Trade Area has a game-changing impact on African economies, we must now develop clear strategies for product diversification and inclusive implementation. The speed at which countries have signed and are now ratifying the AfCFTA agreement underscores the momentum behind this African flagship initiative,” the ECA Chief said.

According to ECA studies, Africa is less industrialized today than it was three decades ago. The continent’s manufacturing share of output and exports has steadily declined, and Africa’s exports remain largely concentrated in primary commodities and raw materials. Through AfCFTA, industrialization will help create employment for Africa’s growing youth population, thereby improving livelihoods, access to education and health.

The agreement is also expected to lead to booming multi-sectoral growth in areas including agriculture, where the AfCFTA will provide opportunities to drive agri-business and provide access to new regional markets for farmers and regional agro-value chains. With regard to access to electricity, about 600 million Africans still lack access to electricity. If current trends continue, it could take up to the year 2080 until Africa achieves full electrification. The AfCFTA would help build momentum on establishing an integrated set of platforms and partnerships to drive regional power systems, accelerate energy access for productive use, and bring down the costs of Africa’s power generation.

“We are delighted to support ECA and AUC to set the table and steer the conversation on the AfCFTA with Africa’s leaders. This Forum is an opportunity to work together to address challenges, discuss solutions, and increase awareness about the agreement’s ability to be a transformative tool that improves the lives of millions of Africans, especially the most vulnerable,” said Mamadou Biteye, Managing Director, Africa, for The Rockefeller Foundation.

The trade forum will provide a platform to discuss Africa’s participation and ownership of the AfCFTA objectives and examine how intra-regional trade can enable prosperity in Africa. The Forum will bring together stakeholders to determine how nations can move from a signed AfCFTA to real action and implementation.

“The AfCFTA is critical for Africa’s economic competitiveness and development. Once the African Continental Free Trade Area starts to fully function, African enterprises will be exposed to large economies of scale and scope. With expanded production and competitiveness, as well as increased investment, our enterprises will be able to increase Africa’s share of global trade, creating opportunities for economic development as well as the prosperity of African countries,” said the Africa Union Commission.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Africa Takes Centre Stage as Addis Ababa Hosts the World Public Summit

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Addis Ababa World Public Summit

By Kestér Kenn Klomegâh

For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”

The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.

The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.

Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.

The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.

The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.

The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.

Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.

On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.

One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.

The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.

According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”

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UK Set for Seventh Prime Minister in 10 Years as Keir Starmer Resigns

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Keir Starmer

By Adedapo Adesanya

The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.

The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.

Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.

Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.

He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.

His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.

Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.

“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.

Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.

It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.

Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.

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AXIAN Energy Secures $60m for Expansion Across Africa

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axian energy

By Aduragbemi Omiyale

A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.

The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.

It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.

The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.

Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.

Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.

The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”

Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.

“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.

“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”

The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.

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