World
SADC Holds Annual Summit, Reviews Existing Challenges, Future Pathways
By Kestér Kenn Klomegâh
Under the theme Promoting Innovation to unlock opportunities for sustained economic growth and development towards an industrialised SADC, the Southern African Development Community (SADC), comprising 16 southern African states, gathered on August 17 to review their collective outstanding development roadblocks and, as traditionally expected, thoroughly discuss another set of measures to be implemented in the next few years.
Southern Africa, as it pertains to the rest of Africa, has been confronted with numerous development challenges. The continent is facing major challenges, especially financing, security, soaring debt levels, and climate change. These decades-old development setbacks have been complicated primarily due to a gross lack of good governance, an ineffective approach, an illicit outflow of capital from the continent, instability and different kinds of ethnic conflicts, and largely their own failure to look for inside solutions to ensure significant success and economic progress.
Today, the sovereign debt in Africa is currently estimated at over $1 trillion, causing a severe fiscal crisis, with more than one (1) in three (3) countries in or at high risk of debt distress. This is also happening when long-term concessional finance, official development assistance, and foreign direct investments are declining.
In addition, climate change is eroding five (5) per cent of GDP on average annually. These impacts are quite evident in the SADC region. That is why we are working on an African position on the reform of the global financial architecture so that Africa’s needs are taken into account at next month’s Summit of the Future and at the Fourth Financing for Development Conference that will take place next year in Spain.
There are no clear solutions. Southern African states have no choice but to look inward for homegrown solutions, including domestic resource mobilisation and innovative financing for climate change, to sustain development.
And SADC can be a leader in this imperative. And SADC can be a leader in this imperative. The region is home to most of the world’s gold, copper, cobalt, lithium, chromium, graphite, and platinum and possesses significant livestock and agricultural endowments.
Four key areas offer SADC innovative and scalable solutions. One of them is the development of regional value chains, and this is possible throughout SADC.
Regional agglomeration remains a ticket to sustainable industrialisation because fragmented approaches will not generate the jobs that are needed, nor will they reduce poverty and inequality.
Indeed, following recent visits to Botswana, Namibia, and Ethiopia to study the beef and leather value chains, it has been concluded that all of SADC offers enormous potential to increase the export markets within these sectors.
That is why SADC partnered with the Arab Bank for Economic Development in Africa (BADEA), which has now approved grant financing for a feasibility study in the beef sector for Botswana that will be conducted by ECA, working closely with the SADC secretariat and partners.
Southern African states suffer from energy deficits. Therefore, an approach to energy solutions from a regional perspective is highly recommended. For example, SADC is using only one per cent of its solar and wind energy potential. This means that SADC can be a continental energy provider with the development of this value chain.
The second area of opportunity is food security. There is no reason why Africa should import food to the tune of $120 billion per year when SADC can be Africa’s breadbasket. This is also why we are embarking on the establishment of the Zambia-Zimbabwe Common Agro Industrial Park, again working with BADEA, who have also approved grant financing for a study to move forward with this initiative. This is not just critical for SADC, but for the whole continent.
Thirdly, there is mineral development. The continent’s critical minerals can deliver fair and inclusive prosperity. The fundamentals for this agenda are stronger than anywhere else in the world. But the window of opportunity is closing.
Appreciably using the study on the DRC-Zambia electric battery initiative as a proof of concept that can and should drive mineral beneficiation and working on a road map to translate this into a reality that will allow expansion to other minerals, such as diamond.
Finally, SADC must leverage technology. The work with Botswana on the Lobu Small Stock Farm shows the benefits of using smart agriculture technologies for climate change adaptation.
With the right investments, we can scale up innovations like this, not just in the agricultural sector but in health, education, finance, and transport, amongst others.
It is commendable that the United Nations Economic Commission for Africa (ECA) is now developing a platform that showcases innovations across Africa, which can be accessed by all countries. This was one of the requests made by member states at the last Conference of Finance Ministers in March this year, chaired by the Minister of Finance of Zimbabwe.
notwithstanding, significant investments and critical infrastructure development are needed to unlock these opportunities. Governments alone cannot do this. The private sector can play its part with the right incentives and de-risking mechanisms.
For instance, the United Nations Economic Commission for Africa (ECA) can work closely with the African Development Bank (AfDB) and regional partners to enhance de-risking mechanisms that promote successful public-private sector partnerships.
As the situation stands, it is necessary to emphasise that the impetus for rapid industrialisation is not simply a question of convenience. It is a matter of absolute necessity. Home-grown solutions can help them address today’s complex challenges. It is time to act collectively as a regional bloc to address existing development problems.
The Southern African Development Community (SADC), which has its headquarters in Gaborone, Botswana, is a sub-regional body of 16 Southern African countries. SADC was established on August 17, 1992, in Windhoek, Namibia, and collectively adopted the SADC Treaty. The main objectives of SADC are development, peace and security, and economic growth to alleviate poverty and enhance the standard and quality of life of the peoples of Southern Africa.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
World
African Graduates Association Promoting Multifaceted Initiatives With Russian Educational Institutions
By Kestér Kenn Klomegâh
In preparations for the third Russia-Africa Summit, scheduled for late October 2026, Dr Francois Ngan, deputy chairman of the Union of Associations of African Graduates of Soviet and Russian Universities, during an official working visit, has held a consultative meeting with Professor Vladimir Filippov, the President of the Russian University of Peoples’ Friendship (RUDN), and former Minister of Higher Education of Russia, Chairman of the National Commission for Accreditation of Higher Education.
RUDN is an educational institution established in 1960, primarily to provide higher education to Third World students. It has now become a popular multidisciplinary spot for many students, especially from developing countries. The university offers various academic programmes and has research infrastructure that comprises laboratories and interdisciplinary centres. The university is named after the former Congolese leader, Patrice Lumumba.
Dr Francois Ngan and Professor Filippov discussed the importance of the Graduates Association as a continental platform dedicated to strengthening unity, cooperation, and promoting shared progress among African graduates who studied in the former Soviet Union and in the Russian Federation. They also reviewed multifaceted initiatives that could bring together alumni associations from across Africa, whose members obtained education and professional training, and cultural experiences in Soviet and Russian institutions of higher learning.
Professor Filippov expressed optimism in addressing emerging challenges as a result of shifting geopolitical changes, emphasised strategic cooperation in the educational sphere with Africa, in general, and with the Republic of Cameroon, in particular, and further about the integration of African students during their studies in the Russian Federation.
The meeting also touched on academic and scientific work, the possibility of rewriting a scientific thesis, and the official organisation of transferring versions translated into six languages for the library of RUDN. Significant questions relating to Russia’s educational opportunities, collaborations and partnerships involving African countries were thoroughly discussed.
The Union of Associations of African Graduates of Soviet and Russian Universities was created under one continental umbrella to promote friendship, for professional networking, to engage in cultural exchange, and with particular emphasis on forging strategic cooperation between Africa and Russia.
