World
Strong Economic Growth Boosts International Flows—DHL GCI
By Modupe Gbadeyanka
International flows of trade, capital, information and people all intensified significantly for the first time since 2007; Mauritius is sub-Saharan Africa’s most connected country; Mozambique named as one of the countries where international flows most exceed expectations
DHL released the fifth edition of the DHL Global Connectedness Index (GCI), a detailed analysis of globalization, measured by international flows of trade, capital, information and people. The new GCI report represents the first comprehensive assessment of developments in globalization across 169 countries and territories since the Brexit referendum in the United Kingdom and the 2016 presidential election in the United States. In spite of growing anti-globalization tensions in many countries, connectedness reached an all-time high in 2017, as the flows of trade, capital, information and people across national borders all intensified significantly for the first time since 2007. Strong economic growth boosted international flows while key policy changes such as US tariff increases had not yet been implemented.
The 2018 index measures the current state of globalization, as well as individual rankings for each country, based on the depth (intensity of international flows) and breadth (geographical distribution of flows) of countries’ international connections. The world’s top five most globally connected countries in 2017 were the Netherlands, Singapore, Switzerland, Belgium and the United Arab Emirates. Eight of the top 10 most connected countries are located in Europe, helping make it the world’s most connected region, in particular for trade and people flows. North America, the leader in capital and information flows, ranked second among world regions, followed by the Middle East and North Africa in third place.
In Sub Saharan Africa, the highest ranking country was Mauritius, which featured in 40thposition, while South Africa was named the highest ranking country on the African continent itself, with an overall ranking of 56thplace.
“As the world continues to globalize, there are still many opportunities for intercontinental & intraregional trade, particularly for emerging economies in Sub Saharan Africa,” says Hennie Heymans, CEO of DHL ExpressSub Saharan Africa. “Globalization is a key driver for growth and fiscal security, which is evident in countries that have embraced it. We are confident about continued further growth in the region with new trade agreements coming into effect, to support regional collaboration.”
“Surprisingly, even after globalization’s recent gains, the world is still less connected than most people think it is,” commented GCI co-author Steven A. Altman, Senior Research Scholar at the NYU Stern School of Business and Executive Director of NYU Stern’s Center for the Globalization of Education and Management. “This is important because, when people overestimate international flows, they tend to worry more about them. The facts in our report can help calm such fears and focus attention on real solutions to societal concerns about globalization.”
At the global level, the GCI shows, for example, that just about 20% of economic output around the world is exported, roughly 7% of phone call minutes (including calls over the internet) are international, and only 3% of people live outside the countries where they were born. The report also debunks the belief that distance is becoming irrelevant. Most countries are much more connected to their neighbours than to distant nations.
Emerging economies remain less connected than advanced economies
The GCI continues to reveal vast differences between levels of globalization in advanced versus emerging economies. Emerging economies trade almost as intensively as advanced economies, but advanced economies are more than three times as deeply integrated into international capital flows, five times for people flows, and almost nine times with respect to information flows.
Additionally, while leaders from large emerging markets have become major supporters of globalization on the world stage, emerging economies’ progress catching up in terms of global connectedness has stalled.
Mozambique beats expectations
Mozambique was named as one of the five countries where international flows exceed expectations the most. This is positive news for the region, because deeper global connectedness can help accelerate countries’ economic growth.
One cause for optimism regarding further growth potential for Sub Saharan Africa, is the signing of the African Continental Free Trade Agreement (AfCFTA), signed by 49 countries in March 2018.
According to a study by the UN Economic Commission for Africa, full implementation of the AfCFTA could double intra-African trade and boost the whole continent’s global connectedness.
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.
