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FX Volatility Risk: Why Nigerian Businesses Must Be Cautious When Borrowing in Foreign Currency

FX Volatility Risk: Why Nigerian Businesses Must Be Cautious When Borrowing in Foreign Currency

By Anayo Nwosu

In a rapidly evolving economic landscape where currency fluctuations have become the norm, Nigerian businesses are constantly weighing their financing options. One of the biggest dilemmas faced by companies is whether to borrow in foreign currency or stick to naira-denominated loans. While foreign currency loans often come with significantly lower interest rates, they carry a hidden danger—FX Volatility Risk—which has led to the downfall of many companies.

The Temptation of Foreign Currency Loans

Imagine a manufacturing company in Nigeria that wants to expand by acquiring new machinery from an overseas supplier. The cost of this machinery is $1,000,000, and the foreign supplier agrees to ship the equipment with a one-year payment plan, provided a Nigerian bank issues a confirmed letter of credit as a guarantee. The loan comes with an attractive 7% annual interest rate, much lower than naira-denominated loans, which range from 19% to 32% per annum.

At first glance, this foreign credit arrangement seems like a great deal. However, the real challenge lies in how the company intends to repay the loan. If the company does not earn in foreign exchange (FX), it will have to buy dollars with naira at the prevailing exchange rate—a rate that has been consistently rising.

Who Can Safely Borrow in Foreign Currency?

Foreign currency loans are only advisable for businesses that generate FX revenue. These include:

  • Export-Oriented Manufacturers – Companies that export goods and receive payments in USD or other foreign currencies can safely borrow in FX, as their earnings match their liabilities.
  • Commodities Exporters – Those trading in oil, solid minerals, agricultural products, and processed goods can comfortably service foreign loans.
  • Freight and Logistics Companies with International Clients – Firms that bill clients in dollars or other foreign currencies are also in a better position to repay FX loans.

For example, companies that convert scrap metal to billets for export can handle foreign loans because they earn revenue in USD. Their income stream shields them from naira depreciation, ensuring that their loan repayment obligations remain constant in their earning currency.

Why Foreign Currency Loans Can Be a Trap for Many Businesses

Many Nigerian businesses that borrowed in FX without earning in foreign exchange have found themselves in dire financial straits. The major risk is the ever-rising exchange rate, which significantly increases the naira amount required to service dollar-denominated debt.

Consider this scenario:

  • A company takes a $10 million loan when the exchange rate is ₦430 per dollar.
  • The naira depreciates to ₦1,270 per dollar within months.
  • The company now needs ₦12.7 billion instead of ₦4.3 billion to settle the same debt.

This is the devastating effect of FX Volatility Risk—a financial hazard that arises when a company’s liabilities in foreign currency grow uncontrollably due to currency depreciation. Many Nigerian manufacturers, airlines, and logistics firms have collapsed under this burden.

Expert Recommendations for Nigerian Businesses

Given the current economic realities, financial analysts strongly advise businesses to take proactive measures to avoid FX Volatility Risk. Here are key recommendations:

1. Never Borrow in Foreign Currency Unless You Generate FX Revenue

If a company does not earn in foreign currency, it should avoid foreign currency loans at all costs. No matter how low the interest rate appears, the unpredictable exchange rate fluctuations can turn a seemingly affordable loan into an insurmountable financial crisis.

2. Convert All Foreign Currency Exposures to Naira Immediately

Businesses that already have foreign currency liabilities should hedge their risks by converting their obligations to naira. The cost of borrowing in naira—even at 19% to 32% interest rates—is far more predictable than the uncertainty of a rapidly depreciating naira against the dollar.

3. Only Consider FX Loans When the Exchange Rate Becomes Stable

Foreign borrowing may become an option only if Nigeria’s exchange rate stabilizes. Until then, taking on FX debt is an unnecessary gamble that could wipe out a company’s financial reserves.

Final Thoughts

The Nigerian economy has witnessed the adverse effects of FX Volatility Risk firsthand. Many companies—especially in the manufacturing and logistics sectors—have folded due to their inability to manage escalating FX debt. Businesses must be strategic in their financing choices, ensuring that any debt obligations are aligned with their revenue streams.

For now, the safest path for businesses that do not earn in FX is to steer clear of foreign currency loans and seek alternative financing solutions. The risks are simply too high in the current economic climate.

Dr. ‘Bosun Tijani Unveils The Reuse Lab: A Game-Changer for Digital Inclusion in Nigeria

Dr. ‘Bosun Tijani Unveils The Reuse Lab: A Game-Changer for Digital Inclusion in Nigeria

 In a groundbreaking effort to bridge Nigeria’s digital divide and promote sustainable technology use, Dr. ‘Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, has announced the launch of the ‘Bosun Tijani Foundation – The Reuse Lab. The initiative is designed to provide underserved communities, particularly students, with access to digital devices by aggregating, refurbishing, and redistributing previously used laptops, tablets, and mobile phones.

Empowering Young Nigerians Through Technology

The Reuse Lab is kicking off with a pilot program that will see 70 refurbished laptops distributed to secondary school students across Nigeria. Recognizing the role of technology in shaping the future, Dr. Tijani stated that the initiative is focused on ensuring that young, talented Nigerians—who may otherwise lack access to essential digital tools—are not left behind in the rapidly evolving digital economy.

To qualify for a laptop, interested secondary school students are required to submit an essay detailing why they deserve to receive the device. The Minister highlighted that the selection process will be based on originality, creativity, and a clear vision for the future, while also cautioning against the use of AI-generated content. He encouraged students to express their passions, aspirations, and personal stories, emphasizing that this initiative is about more than just handing out devices—it’s about identifying and nurturing future leaders and innovators. Essay submissions can be made through the official portal: https://b.link/Reuse-Lab.

Dr. Tijani highlighted that the impact of digital access goes beyond individual empowerment—it has the potential to transform entire communities by fostering education, skills development, and economic participation. He emphasized that giving students access to personal computers will not only enhance their academic performance but also introduce them to digital skills, coding, and opportunities in Nigeria’s growing tech ecosystem.  graphical user interface, website

A Sustainable Approach to Digital Inclusion

Beyond addressing digital accessibility, The Reuse Lab aligns with broader environmental sustainability efforts. By refurbishing and repurposing used devices instead of allowing them to go to waste, the initiative promotes responsible e-waste management and reduces the environmental footprint of discarded electronics.

Dr. Tijani highlighted that the impact of digital access goes beyond individual empowerment—it has the potential to transform entire communities by fostering education, skills development, and economic participation. He emphasized that giving students access to personal computers will not only enhance their academic performance but also introduce them to digital skills, coding, and opportunities in Nigeria’s growing tech ecosystem.

A Call for Corporate and Institutional Support

The success of The Reuse Lab depends on collaborative efforts from both the public and private sectors. Dr. Tijani made an open call to corporate organizations, government agencies, and individuals willing to contribute to this cause by donating previously used laptops, tablets, and smartphones. These donated devices will be refurbished and distributed to deserving students and young professionals who lack access to digital tools. Interested donors can express their support by reaching out via foundation@tijani.co.

Acknowledging the early contributions to the initiative, the Minister expressed his gratitude to the British Council and Co-Creation Hub, who have provided the first 70 devices for the pilot phase. Their support, he noted, sets a precedent for other organizations to follow in ensuring that no young Nigerian is deprived of the opportunities that come with digital access.

Shaping the Future of Nigeria’s Digital Economy

As Nigeria continues to push for a more inclusive digital economy, initiatives like The Reuse Lab are critical in closing the technology gap between privileged and underserved communities. With a growing emphasis on digital literacy, innovation, and sustainable technology, the project stands as a transformative step towards building a digitally empowered generation.

Dr. Tijani reaffirmed his commitment to ensuring that more students and young entrepreneurs are equipped with the tools they need to succeed in a digital-first world. “By adopting innovative and sustainable solutions, we can unlock Nigeria’s vast human potential, empowering millions with the resources needed to thrive in the global digital economy,” he said.

With the launch of The Reuse Lab, Nigeria takes another bold step towards a more connected and digitally inclusive future—one refurbished device at a time.

Peter Obi Engages Indonesian Leaders on Governance and Economic Transformation

Peter Obi Engages Indonesian Leaders on Governance and Economic Transformation

Nigerian public figure and presidential hopeful Peter Obi has continued his engagements in Indonesia, holding high-level discussions with key political and economic leaders to gain insights into the country’s development strategies. His visit on February 3rd and 4th included meetings with top government officials who played significant roles in Indonesia’s economic transformation under Presidents Susilo Bambang Yudhoyono and Joko Widodo.

Obi’s discussions began with Agung Laksono, a former Minister, former Coordinating Minister of the Economy, and a former member of Indonesia’s Presidential Advisory Board. Laksono provided Obi with valuable insights into the governance strategies that shaped Indonesia’s rapid development, emphasizing the importance of strategic planning, disciplined execution, and a focus on measurable progress across key sectors.No alt text provided for this image

He later met with Muhammad Jusuf Kalla, the former Vice President of Indonesia, who holds the unique distinction of serving under two different presidents. Kalla highlighted how decisive leadership and a focused commitment to economic transformation enabled Indonesia to achieve simultaneous development across multiple sectors. His remarks underscored the critical role of political will and strategic execution in national growth.

Obi also held discussions with Yandri Susanto, Minister of Villages and Development of Disadvantaged Regions, who outlined Indonesia’s structured approach to rural development under President Joko Widodo. He detailed how the government has made significant progress in improving education, healthcare, and support for micro and small businesses in rural areas. Through a framework that categorizes villages from underdeveloped to self-sufficient, the ministry ensures targeted interventions that drive inclusive growth. The integration of municipal and traditional leaders into the governance structure has further strengthened Indonesia’s grassroots development.

Reflecting on his engagements, Obi emphasized that Nigeria can achieve similar inclusive and sustainable growth by adopting structured, data-driven policies centered on rural development, industrialization, and economic diversification. He noted that with strong political will and strategic implementation, Nigeria has the potential to unlock its full economic capacity and ensure that no region is left behind.

Reaffirming his vision for Nigeria’s future, Obi concluded with his signature message: “A New Nigeria is POssible!”

National Broadband Alliance for Nigeria Launched to Drive Digital Transformation

National Broadband Alliance for Nigeria Launched to Drive Digital Transformation

The Federal Ministry of Communications, Innovation & Digital Economy has officially launched the National Broadband Alliance for Nigeria (NBAN), a transformative initiative aimed at reshaping the country’s digital landscape. The event brought together industry stakeholders, policymakers, and technology leaders to discuss the roadmap for achieving Nigeria’s ambitious broadband penetration target.

Wole Abu, Managing Director of Equinix West Africa, described the launch as a landmark moment in Nigeria’s digital evolution. He highlighted that broadband penetration currently stands at 42% as of October 2024, but the goal is to push this figure to 70%. The initiative aims to provide urban areas with internet speeds of 25Mbps and rural communities with 10Mbps, backed by a projected 300-500% increase in broadband investment.

One of the key announcements at the event was the approval of a Special Purpose Vehicle (SPV) to oversee the deployment of 90,000km of fiber infrastructure across the country. This development underscores the government’s commitment to action, focusing not just on expanding connectivity but also on making broadband infrastructure more accessible and efficiently utilized. In the past, underutilized infrastructure has hindered return on investment, and the initiative seeks to break this cycle by optimizing existing resources.

The success of pilot projects in Edo and Ogun States, pioneered by MainOne, was highlighted as a model for broadband expansion. Additionally, NIGCOMSAT’s Project 774, led by Managing Director Jane Egerton-Idehen, will ensure that all local government secretariats in Nigeria receive connectivity within the next three years. These developments point to a broader vision of using broadband as a tool for national development.

Investment in Nigeria’s digital economy continues to grow, with MainOne’s contributions to Lagos’ Yaba Silicon Valley already fostering multiple unicorn startups. The sector has also attracted significant international funding, including $2 million from the U.S. government and $500 million from the World Bank. Digital transactions in Nigeria have surged, with online payments reaching ₦78 trillion over the past five years, further emphasizing the critical role broadband plays in economic growth.

Despite the optimism surrounding NBAN, several challenges remain, including multiple taxation on telecom operators, infrastructure vandalism, and concerns over the commercial viability of broadband projects. However, the initiative’s public-private partnership model is expected to address these hurdles and drive improvements across key sectors such as education, healthcare, financial inclusion, agriculture, and manufacturing.

Speaking on the broader impact of NBAN, Wole Abu emphasized that the initiative represents a collective response to Nigeria’s broadband challenges. He noted that the future is digital, and achieving a robust broadband infrastructure is essential for unlocking the nation’s true potential. The event also provided an opportunity for industry players to reconnect, with Abu mentioning his discussion with Airtel Nigeria’s Managing Director, Dinesh Balsingh, who is embarking on his second tenure in the country.

As Nigeria moves forward with this ambitious broadband expansion, industry experts and stakeholders remain optimistic about the potential of NBAN to transform lives and accelerate the nation’s digital economy.

NDPC Marks 3rd Anniversary with Team Bonding Event to Strengthen Workplace Unity

NDPC Marks 3rd Anniversary with Team Bonding Event to Strengthen Workplace Unity

The Nigeria Data Protection Commission (NDPC) recently celebrated its third anniversary with a specially organized team bonding event aimed at fostering stronger connections among its workforce. The event, which brought together staff members in a relaxed and engaging environment, provided an opportunity for them to reflect on their collective achievements, strengthen team spirit, and reinforce the Commission’s commitment to its mandate.

Held in a lively atmosphere, the event featured a mix of recreational activities, including friendly competitions, interactive games, and team-building exercises designed to enhance collaboration. Staff members also enjoyed a variety of food, drinks, music, and dance, creating a festive mood that encouraged camaraderie and networking beyond the usual work setting.

Speaking at the event, senior officials of the NDPC highlighted the significance of teamwork in achieving the Commission’s objectives. They emphasized that fostering a strong internal culture of cooperation and mutual support is essential to maintaining efficiency in regulatory enforcement and public service.

Over the past three years, the NDPC has played a pivotal role in ensuring compliance with data protection regulations across Nigeria, promoting privacy rights, and safeguarding personal data in an increasingly digital economy. As the Commission continues to expand its regulatory framework, events like this serve as a reminder of the value of teamwork in executing its mission effectively.

The team bonding initiative aligns with the NDPC’s broader strategy to enhance employee engagement, boost morale, and create a more productive work environment. Staff members expressed appreciation for the initiative, noting that it provided a refreshing break from their daily responsibilities while reinforcing the sense of unity needed to tackle future challenges.

As the NDPC moves forward, it remains committed to not only protecting data privacy in Nigeria but also building a resilient and motivated workforce capable of delivering on its mandate with excellence.

Lagos Governor Speaks on Expansion of Red Line Rail Service, Receives Mixed Public Reactions

Lagos Governor Speaks on Expansion of Red Line Rail Service, Receives Mixed Public Reactions

 

By ANTHONY EMEKA NWOSU

The Governor of Lagos State, Babajide Sanwo-Olu, has unveiled a significant enhancement to the Lagos Rail Mass Transit (LRMT) Red Line as part of the state’s ongoing efforts to revolutionize urban mobility. Effective from tomorrow, the Red Line will expand its service schedule, now offering five morning trips and four evening trips daily, an increase from the previous two morning trips. This step is aimed at improving the daily commute for residents traveling along the high-demand route from Agbado to Oyingbo.

This upgrade promises to ease the stress of navigating the city’s notorious traffic jams by reducing overall travel times. With a journey time of just 50 minutes between Agbado and Oyingbo, commuters will benefit from the convenience of waiting times as brief as two minutes at each station. The increased frequency of train services is expected to significantly enhance the efficiency and reliability of the Red Line, positioning it as a crucial part of Lagos’ integrated transport network.

Governor Sanwo-Olu emphasized the importance of this expansion in his announcement, stating, “This milestone reflects our unwavering commitment to improving mobility across Lagos. The arrival of three new train sets will further boost the Red Line’s capacity, reinforcing its role as a vital part of our integrated transport system.”

He further underscored the broader impact of the Red Line, describing it as more than just a mode of transportation, but a catalyst for economic transformation. “The Red Line isn’t just a train service—it’s a game-changer for commuting in Lagos. We are building a city where connectivity drives economic growth and improves the quality of life for all residents. This is Lagos, and we keep moving,” the Governor concluded, aligning his statement with his vision for a sustainable and vibrant urban future.

However, despite the positive rhetoric, public feedback on the Red Line expansion has been a mixed bag, with some residents celebrating the initiative while others raised serious concerns about the affordability and accessibility of the service. These reactions highlight the complexities of implementing public transport projects in a city as large and diverse as Lagos.

On social media, Lagosians shared their thoughts on the new service. Some were enthusiastic about the project, while others questioned its relevance and sustainability in the face of economic challenges.

Joni Akpederi, a commuter on Facebook, expressed frustration with the fare structure, which she believes is prohibitive for the average Lagosian. “I still don’t know what good the train service is doing. The trains are too few, and evidently, from comments in this post, too expensive for the so-called common commuter. At N1000 one way, a commuter needs N2000 a day for the Agege-Oyingbo route, which adds up to N44,000 in a month. For someone earning the minimum wage of N70,000, that’s simply unaffordable,” Akpederi said. Her comment highlights the stark reality that while the service may be a step forward in terms of infrastructure, it may alienate a significant portion of the city’s low-income workers.

In contrast, Peter Unuigboje viewed the project as a transformative step for Lagos, stating, “A different level of thinking was required to not just solve a problem but create multiple values & economic wealth for the people residing and transiting through Lagos. This is a game changer.” Unuigboje’s optimistic perspective reflects the hope that, despite initial challenges, the project could ultimately benefit both the economy and the everyday lives of commuters in the long run.

Yet, there were additional calls for the service to be extended to more areas of Lagos. Justin-Tall Miyin Unuke, another commenter, urged the government to consider extending the rail line to other underserved parts of the city, stating, “Please, Sir, extend it to the Ajah axis of Lagos. It is a very good transport system that should spread around the city and not just CMS to Mile 2.” This call reflects a common desire for equitable infrastructure development that can serve all areas of the city, not just the most central and populated zones.

One of the more critical voices was that of Olaiya Adeshola, who questioned the pricing structure and urged a revision of fares. “Good move, Sir, but I think the fare has to be reviewed. It’s too high considering the capacity of average commuters on that axis. My area, close to the Yaba railway line, has poor patronage because of the high fares,” Adeshola remarked. This comment points to a potential issue with the current pricing, as high fares could limit the number of people who can afford to use the service, undermining its effectiveness.

Abimbola Fashina shared a similar sentiment, echoing concerns about the affordability of the service for residents. “It would be nice to look into affordable fares based on the minimum wage of the citizens of the state. God bless Lagos and the people,” Fashina added. Many commenters, including Fashina, seem to suggest that the state government should reassess the fare structure to ensure that it caters to the needs of all residents, especially those in the low-income bracket.

In a more detailed critique, Abimbola Kafilah Yusuf called for a comprehensive and measurable approach to the ongoing development of Lagos’ rail system. “While the initiative is commendable, it is important to have a holistic and measurable plan for the rail transit system in Lagos. Has there been an increase in the number of coaches? Has the travel time been shortened? Are there more scheduled trips?” Yusuf asked. She also raised concerns about safety, recounting an incident in which she was almost unaware of an approaching train due to a lack of proper signage and traffic control near the tracks. Yusuf’s remarks underscore the need for continuous improvement not just in infrastructure, but also in safety and operational measures to ensure the success of the rail system.

In contrast to these concerns, some residents took to social media to express their appreciation for the governor’s leadership. Saviour Udoh offered praise for the Red Line project, noting, “Well done, Sir. This is commendable.” Meanwhile, Dovinon Whenayon Zachariah took the opportunity to highlight other areas in Lagos that require attention, specifically Badagry. “Badagry West LCDA has been in total darkness for the past four years. We need your intervention,” Zachariah said. His plea for greater focus on the development of more areas in Lagos reflects the frustrations of those living in regions that feel neglected when it comes to infrastructure investments.

As the conversation around the Red Line continues, Governor Sanwo-Olu remains committed to the long-term vision of transforming Lagos into a world-class city with a robust and sustainable public transport system. The ongoing feedback will undoubtedly play a role in shaping future decisions regarding both pricing and service expansion.

With the expansion of the Red Line Rail Service, Lagos is on track to modernize its public transport system, making it a vital component of the city’s growth and development. However, as highlighted by the public responses, a balance must be struck between accessibility, affordability, and the continued push for urban mobility improvements.

For more updates on the developments in Lagos’ transport infrastructure, stay tuned.

Written by ANTHONY EMEKA NWOSU

Ai Everything Global wraps up 2025 edition with sharp debates and ingenious innovations on AI-driven transformation for governments, industries & societies

Ai Everything Global wraps up 2025 edition with sharp debates and ingenious innovations on AI-driven transformation for governments, industries & societies

 

  • Third and final day spotlights sovereign AI, equitable AI & public sector transformation on the most global stage for AI innovation
  • Industry leaders and global stakeholders praise AI Everything Global 2025 as a pivotal moment in accelerating AI-driven change
  • ‘Big Winds of Change: It’s AI in Everything’ theme sparks critical conversations on the ethical, economic, and transformative power of AI

 

Dubai, UAE – February 7, 2025: After an enthralling series of insight-fuelled debates, thought-provoking discussions, and revolutionary world-first application exhibits, Ai Everything Global 2025 concluded in thrilling fashion in the UAE on Thursday – cementing its status as the ultimate AI innovation hub.

 

Organised by Dubai World Trade Centre and KAOUN International in association with GITEX GLOBAL, Ai Everything Global is the year’s largest, most provocative AI event. Following an action-packed two days across Abu Dhabi and Dubai, the 2025 edition signed off in style to the delight of attendees – receiving critical acclaim for examining cross-continental AI transformation, tectonic market shifts, and the technology’s limitless potential.

Live from Dubai Exhibition Centre, Expo City, a distinguished line-up of world-leading experts discussed AI’s influence in harmonising technological progress with societal benefit. Across various capacity crowd panels, guest speakers unpacked the importance and complexities surrounding nations’ confining data within their respective borders whilst delivering world-class AI education, training, and career pathways.

 

Driving Conversations, Defining The Future 

Alessio Bagnaresi, Vice President AI – Technology MEA, Oracle, discussed the indispensable value of Sovereign AI for nations, hailing the UAE as a benchmark for countries globally to emulate. He insisted: “Sovereign AI is a non-negotiable strategic imperative. Countries must ensure data sets and algorithms do not contain foreign biases, that they contain the nation’s cultural aspects and understand its heritage, and that they support the knowledge economy. People are the most important asset in any organisation or country – and AI is being harnessed in the UAE to empower citizens and residents, nurture a thriving nation, and drive economic diversification.”

Alongside Sovereign AI, another hot discussion topic surrounded ethical and equitable AI. According to a recent ITU report, one-third of the global population remains offline without internet access – meaning significant barriers must first be overcome en route to a future where AI is accessible for all.

 

Rima Manna, VP Network Infrastructure Middle East & UAE Country Director at Nokia, said: “AI should be a fundamental human right for everyone. Why? Because there is so much greatness to be harnessed from this technology. This is why we must connect the unconnected and serve the underserved through an ecosystem of like-minded partners that enables AI literacy and cross-border, cross-industry collaboration. This would allow AI to be accessible for all.”

Ammar Al Malik, Executive Vice President Commercial at TECOM Group, also endorsed localisation alongside nationwide education and accessibility. Whilst addressing audiences, he revealed: “The community component of AI is incredibly important. For equitable AI, educational institutes and initiatives are essential alongside a community of like-minded companies within a jurisdiction. Take the UAE, for example. There are various initiatives and training programmes upskilling millions of people. Education is critical, as is localisation. We cannot have one solution for everyone globally – every country should develop AI systems that work for them, with world-class education alongside a thriving ecosystem that facilitates growth, development, and new opportunities from within.”

 

Unlocking a $15.7 Trillion Opportunity

A pivotal event at a time when AI is transforming industries and is projected to contribute $15.7 trillion to the global economy by 2030 (PWC), the World AI Leaders Conference also took centre stage – emphasising the immense value of strategically scaling advanced AI technologies and solutions into operations globally.

 

With nations globally aiming to drive socio-economic transformation with AI at the forefront, Stephen Burt, Chief Data Officer, Government of Canada, shed light on the Canadian approach to harnessing AI capabilities across the public sector.

 

He said: “A principled approach that’s human-centred, collaborative, ready, and responsible is how we are conceptualising our vision of AI in the public sector in Canada. We want to be tech-proof and future-proof in the AI space, working with many groups – from the private sector, academia, and research institutes to labour organisations, worker unions, indigenous groups, and others – to ensure that citizens have a stake in what we are putting forward with AI.”

Elsewhere at Ai Everything Global, over 500 AI specialist enterprises and pure AI startups presented the most transformative hands-on use cases ever created. Amongst them was e&, the global telecom and tech leader leveraging AI and strategic partnerships for network optimisation, digital transformation, smart cities, cybersecurity, and business automation.

 

Amit Gupta, Vice President, AI, Advanced Analytics and CVM at e&, UAE, revealed: “Through e& enterprise, we have implemented more than 200 AI use-cases across industries, focusing on banking, insurance, retail, public sector. In today’s scenario, about 80% use cases are still on traditional AI, and around 15 to 20% on Gen AI. From Gen AI point of view, we are already seeing a lot of value, especially from the customer experience point of view.”

 

All Roads Lead To Ai Everything Global 2026

 

As the international AI community reflects on the influence, impact, and success of Ai Everything Global 2025 – held under the theme ‘Big Winds of Change: It’s AI in Everything‘ – preparations for 2026 are already well underway.

Hot on the heels of this week’s announcement that Ai Everything Global 2026 will be held exclusively in the UAE capital at ADNEC Centre Abu Dhabi, many of the world’s leading AI enterprises have already announced their participation. Thursday saw Dell Technologies confirm its presence, reaffirming the tech giant’s ongoing commitment to advancing AI innovation amidst unprecedented global digital transformation across industries.

Next year’s edition will be hosted in strategic partnership with the Abu Dhabi Department of Culture and Tourism (DCT Abu Dhabi) – building on the success of 2025 as industry leaders, innovators, and global investors convene to accelerate AI adoption, the future AI economy, and the UAE’s position as a leading global hub for AI innovation.

 

For more information, please visit aieverythingglobal.com.

 

Radisson Hotel Group concludes record-breaking year with over 300 new signings and openings in 2024

Radisson Hotel Group concludes record-breaking year with over 300 new signings and openings in 2024

Radisson Hotel Group (www.RadissonHotels.com) reported a record-breaking year in 2024 after adding almost 40,000 keys to its global brand portfolio, thereby achieving significant milestones and further strengthening its footprint around the world. Radisson Blu remained the leading upper upscale brand in Europe for the 13th consecutive year and the Group is now leading the upscale resort segment in EMEA.

VIDEO
Elie Younes, EVP & Global Chief Development Officer, walks you through Radisson Hotel Group’s 2024 Business Development highlights

 

Elie Younes, Executive Vice President and Global Chief Development Officer at Radisson Hotel Group, comments: “Despite global geopolitical shifts in 2024, we had a successful year thanks to our relentless efforts to serve our two key customers: the guest and the owner. In 2025, we will continue creating more possibilities and opportunities for all our stakeholders through building on existing segments and partnerships as well as seeking new business avenues. We are grateful to our owners, partners, shareholders, and dedicated teams, whose trust and support enable our joint success.”

With a clear vision for growth and development set out by Radisson Hotel Group’s transformation plan, the Group has been able to achieve the following successes across its portfolio in 2024:

Since its launch in 2018, the Radisson Collection brand grew in 2024 to nearly 70 hotels and achieved significant portfolio growth across key destinations. This included the signing of the first Radisson Collection properties in Paris and Madrid, the signing of the Group’s third Radisson Collection property in Riyadh, and the opening of flagship hotels in Rome (Italy), and Srinagar (India). The Radisson Collection hotel in the heart of Paris is located in the iconic and heritage-protected Haussman building — just steps away from the Louvre Museum and Le Marais neighborhood. In Madrid, the Radisson Collection hotel is set to debut in the iconic Generali building located on Alcala Street — one of Madrid’s most prominent avenues in the prestigious Canalejas area.

In collaboration with PPHE Hotel Group, Radisson Hotel Group opened the doors to art’otel London Hoxton in May. The hotel is in the vibrant Hoxton neighborhood and combines captivating artwork by Signature Artist D*Face with cutting-edge design. In early 2025, the Group is also set to open an art’otel property in Rome, marking the brand’s Italian debut.

Radisson Blu achieved remarkable success last year, as the brand counted over 20 additions to its portfolio, reflecting strong momentum in EMEA and APAC. This growth included openings and signings which redefined the skyline of some of the world’s most renowned cities such as Casablanca (Morocco), where the property is nestled in the city’s new financial district. The recently opened hotel in Conakry is a landmark addition to Guinea’s vibrant capital and is not only a new market entry, but also a significant expansion of the Group’s footprint in West Africa.

We are grateful to our owners, partners, shareholders, and dedicated teams, whose trust and support enable our joint success

Radisson RED expanded into several new markets including Danang (Vietnam), Berlin (Germany), Auckland (New Zealand), Vientiane (Laos), and Abuja (Nigeria). Notable highlights are the debut of the brand in Ireland, with the opening of Radisson RED Galway, located in Galway’s newest neighborhood, Crown Square, and close to Galway’s city center. Whereas Radisson RED Phuket Patong Beach – located just 200 meters from the iconic Patong Beach – marks the debut of the brand in Thailand. The hotel takes the guest experience to new levels with its own RED radio station.

First launched in 2020, Radisson Individuals is now one of the fastest-growing brands in APAC with almost 15 additions to the portfolio in the region in 2024, including openings in Udaipur as well as Saket in South Delhi (India). In EMEA, the brand expanded with new properties in Oman, Sardinia, Turkey, France, and the UK with openings in Surrey, as well as Bolton where the hotel is attached to the home of Bolton Wanderers Football Club, located in the heart of North West England.

Towards the end of the year, the Group rebranded its midscale lifestyle brand, prizeotel, to Prize by Radisson. New hotels under the rebranded name were announced in Gdansk (Poland) and Berlin (Germany), which marked a pivotal moment in the brand’s growth strategy.

With over 150 properties in operation and under development, Radisson Hotel Group is now the industry leader in the upscale resort segment. New openings and signings were announced in breathtaking destinations, including an addition to the Group’s existing portfolio of hotels in Mauritius. This stunning property is nestled along the east coast of Mauritius, on a prime location on one of the island’s most pristine beaches.

Stepping into 2025, Radisson Hotel Group will continue to focus on expansions in strategic geographies, with the right brand and solution for every market, creating more possibilities and opportunities for stakeholders.

Watch the full video of the Business Development Update here: https://apo-opa.co/

The Sahel Can Revolutionize Renewable Energy Access and Affordability Up to the Last Mile (By Reshmi Theckethil)

The Sahel Can Revolutionize Renewable Energy Access and Affordability Up to the Last Mile (By Reshmi Theckethil)

By Reshmi Theckethil, Lead Portfolio, Climate Action, Disaster Risk Reduction, Energy, and Resilience | Sahel Resilience Project Manager, UNDP Sub-Regional Hub for West and Central Africa (www.UNDP.org). 

 

Imagine a Sahel region where every household, school, and hospital has access to clean, affordable energy—where renewable power not only serves homes but also drives economic transformation. Given the region’s rich solar, wind, and hydro resources, this vision is achievable. With one of the highest potential for solar energy production globally, at 13.9 billion kWh/year compared to the global consumption of 20 billion kWh/year, the Sahel’s renewable energy capacity remains underutilised. Currently, over 55% of energy production is dominated by fossil fuels like oil and gas, while renewable sources remain marginal.

Over the last two decades, primary energy demand in almost half of the Sahel countries has grown by more than 4% annually [1]. However, urban areas benefit disproportionately, leaving nearly half the population without electricity. Connectivity disparities are exacerbated by the high costs of power generation and infrastructure, with reliable electricity reaching only about 20% of the population.

Renewable Energy: A Driver of Human Development 

Renewable energy in the Sahel is more than a technical solution—it’s a catalyst for sustainable human development. Policies that localise green energy solutions can end energy poverty and foster resilience. The transition from fossil fuels to renewables, as outlined in Nationally Determined Contributions (NDCs), offers inclusive opportunities for growth, improved social outcomes, and environmental protection. Coordinated strategies can ensure climate resilience while prioritising human welfare outcomes.

For women and youth, renewable energy access is transformative. It reduces reliance on time-intensive manual labour, opening opportunities for innovation and increased productivity across sectors. Solar-powered agricultural hubs could allow farmers to process produce locally, boosting incomes and reducing waste. Solar-powered irrigation could regenerate arid lands, combat food insecurity, and create sustainable livelihoods.

International Commitment to the Sahel 

Cognizant of the region’s potential, UNDP is implementing the United Nations Integrated Strategy for the Sahel (UNISS), aiming to provide clean, affordable energy to over 150 million people by 2025. Since 2021, renewable energy initiatives have benefitted more than 70.7 million people in areas like the Lake Chad Basin [2] and Liptako-Gourma [3]. These efforts, supported by partners such as Sweden, Germany, the Netherlands, the United Kingdom, the African Development Bank, Norway, Japan, and local actors, leverage the productive use of energy to address structural energy poverty with climate and security considerations.

Initiatives like the Africa Minigrids Programme, the Regional Stabilization Facility, the Sahel Resilience Project and the Energy4Sahel initiative remain crucial to the region as they strengthen local regulatory capacities and empower communities to develop scalable, innovative solutions. For example, in Mauritania, Aziza Sidi Bouna, Founder and CEO of SB-GAZ, designs biodigester prototypes that supply homes with clean energy at a fraction of the cost of propane gas traditionally used for cooking. In Gambia, Jankey Jassey, a young renewable energy engineer, is at the forefront of creating space for young girls to work in the renewable energy sector. In Guinea, a young researcher, Marc Tambo, took on the bold task of mobilising his community to build a micro-plant that could power an electric plant, creating energy access for many and job opportunities for the community.

Strengthening Regional Collaboration 

Through partnerships, innovative incentives, and public-focused investments, the Sahel can close the energy gap and bridge the rural-urban divide

As the world shifts towards clean and equitable energy transitions, the region can spearhead sustainable and human-centred African green innovation. By working with development partners, the private sector, and the diaspora, Sahelian countries can adopt targeted green industrial policies to ensure and expedite necessary technology transfers and access to financing, as well as affordability and efficiency improvements. To create long-term solutions devoid of temporary market distortion, incentives for commercial investments must be considered. These investments must result in lasting customer-centric solutions that model cost-effective electrification scenarios and innovations aligned to socioeconomic development metrics.

Capitalising on the African Continental Free Trade Area (AfCFTA) opportunities, these nations can widen market access and promote cross-border energy interconnectivity and regional power pools. However, bridging the gap between ambitious policies and ground-level implementation sustained political commitment and strategic investments. Governments must ensure ministries and agencies prioritise energy access policies, with transparent public dashboards tracking progress. Civil society involvement in oversight and expenditure analysis is critical to achieving national electrification targets.

Through partnerships, innovative incentives, and public-focused investments, the Sahel can close the energy gap and bridge the rural-urban divide. Renewable energy offers a transformative path to sustainable, inclusive development. By fostering innovation and effectively leveraging resources, the Sahel can become a model for climate resilience and economic revitalisation, achieving energy access and affordability up to the last mile.

Zoracom Announces Strategic Collaboration with Exeon Analytics AG to Enhance Cybersecurity Resilience and Next-Gen NDR Solutions

Zoracom Announces Strategic Collaboration with Exeon Analytics AG to Enhance Cybersecurity Resilience and Next-Gen NDR Solutions

 

Zoracom, Nigeria’s foremost Network Security Operations Center (NSOC) and leading cybersecurity firm, has unveiled a groundbreaking initiative aimed at advancing Next-Generation Network Detection & Response (NDR) capabilities and bolstering cybersecurity operational resilience. The company revealed plans for a strategic visit to its partner, Exeon Analytics AG, in Zürich, Switzerland, scheduled for 2025, as part of its commitment to innovation and excellence in the cybersecurity landscape.

In an official statement, Zoracom emphasized that this collaboration underscores its dedication to addressing the evolving challenges of cybersecurity in an increasingly digital world. The initiative is designed to not only enhance Zoracom’s service offerings but also to provide cutting-edge solutions to its growing customer base, which includes enterprises, government agencies, and organizations across various sectors.

Key Objectives of the Initiative

The strategic partnership with Exeon Analytics AG, a renowned Swiss-based leader in cybersecurity analytics, is expected to deliver significant benefits, including:

  1. Support for a Growing Customer Base: Zoracom’s collaboration with Exeon Analytics AG will enable the company to scale its operations and provide robust, tailored cybersecurity solutions to meet the demands of its expanding clientele. This move is particularly critical as businesses worldwide face escalating cyber threats and require advanced tools to safeguard their digital assets.May be an image of 3 people, beard and text
  2. Reaffirmation of Proactive NSOC Solutions: By leveraging Exeon’s expertise in AI-driven network monitoring and threat detection, Zoracom aims to reinforce its position as a pioneer in proactive NSOC solutions. The partnership will enhance Zoracom’s ability to predict, detect, and mitigate cyber threats in real-time, ensuring uninterrupted business operations for its clients.
  3. Acceleration of Business Value through AI-Driven Service Delivery: The integration of artificial intelligence into Zoracom’s service delivery framework is set to revolutionize how cybersecurity challenges are addressed. AI-driven analytics will enable faster threat identification, more accurate response mechanisms, and improved operational efficiency, ultimately delivering greater value to customers.

A Vision for the Future

Zoracom’s leadership expressed enthusiasm about the upcoming collaboration, highlighting its potential to push the boundaries of innovation in the cybersecurity industry. “Our visit to Exeon Analytics AG in 2025 marks a pivotal moment in our journey to redefine cybersecurity excellence,” the company stated. “By combining our expertise with Exeon’s cutting-edge technology, we are poised to set new standards in network security and operational resilience.”

The company also urged stakeholders and clients to “stay tuned” as it continues to roll out innovative solutions designed to combat emerging cyber threats. This initiative aligns with Zoracom’s long-term vision of creating a safer digital ecosystem for businesses and individuals alike.

Industry Impact

The announcement has been met with widespread anticipation within the cybersecurity community. Industry experts have lauded Zoracom’s proactive approach, noting that partnerships of this nature are essential for staying ahead of sophisticated cyber adversaries. The collaboration with Exeon Analytics AG is expected to position Zoracom as a global contender in the cybersecurity arena, further solidifying its reputation as a trusted leader in the field.

As Zoracom prepares for this landmark collaboration, the company remains committed to its mission of delivering unparalleled cybersecurity solutions that empower organizations to thrive in a secure digital environment. With its sights set on 2025, Zoracom is poised to make significant strides in advancing Next-Gen NDR technologies and setting a new benchmark for cybersecurity excellence.

For more information, visit Zoracom’s official website or follow their updates on social media platforms.