Nigeria and IMF Brainstorm on Economic Reforms and Credit Ratings to Spur Growth

Nigeria and IMF Brainstorm on Economic Reforms and Credit Ratings to Spur Growth

 

Abuja, Nigeria – In a pivotal meeting aimed at bolstering Nigeria’s economic resilience and global financial standing, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today held high-level discussions with Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF). The meeting, held in Abuja, focused on critical economic reforms, private sector investment, and Nigeria’s role in global financial affairs.

The discussions underscored Nigeria’s commitment to implementing transformative economic policies to address current challenges and unlock sustainable growth. Minister Edun highlighted the government’s ongoing efforts to enhance social investment programmes, including the transition to a biometric-based system designed to improve transparency, efficiency, and accountability in the delivery of social services.

“We are committed to ensuring that our social investment programmes reach the intended beneficiaries effectively,” said Edun. “The adoption of biometric technology is a game-changer in this regard, as it eliminates leakages and ensures that resources are allocated where they are needed most.”

Economic Reforms and Revenue Mobilisation
The Minister outlined several key reforms aimed at strengthening Nigeria’s fiscal position. These include advancing tax reforms, implementing revenue assurance mechanisms, and accelerating digitalisation efforts to enhance domestic resource mobilisation. He also noted the significant increase in crude oil production, which has risen from 1.2 million to 1.7–1.8 million barrels per day, providing a much-needed boost to national revenue.

“Our focus is on creating a robust and resilient economy that can withstand global shocks,” Edun stated. “By improving revenue collection and expanding our revenue base, we are laying the foundation for sustainable economic growth.”May be an image of 4 people, dais and text

Private Sector Investment and Renewable Energy
A major highlight of the discussions was the role of private sector investment in driving economic growth. Minister Edun emphasised the government’s policy shifts aimed at attracting investments in renewable energy, particularly solar power, and promoting service exports. He also addressed ongoing reforms in the electricity sector, advocating for expanded metering to improve efficiency and reduce losses.

“The private sector is a critical partner in our economic transformation agenda,” Edun said. “We are creating an enabling environment for investments in renewable energy and other key sectors to diversify our economy and create jobs.”

Global Financial Engagement and Credit Ratings
On the international front, the meeting explored Nigeria’s participation in global financial policy and efforts to secure fairer and improved credit ratings for African economies. Minister Edun stressed the importance of enhancing fiscal data transparency to strengthen Nigeria’s credit profile, attract foreign investors, and reduce borrowing costs.

“Improving our credit rating is essential for accessing affordable financing and attracting investments,” Edun explained. “We are working closely with international partners to ensure that our fiscal data is transparent and credible, which will enhance investor confidence in our economy.”

IMF’s Commitment to Supporting Nigeria
In her remarks, Gita Gopinath acknowledged the economic challenges facing Nigeria and reaffirmed the IMF’s commitment to supporting the country’s efforts to achieve sustainable growth. She highlighted the importance of targeted social interventions to address the high cost of living and improve the welfare of citizens.

“We discussed Nigeria’s economic outlook and the need to accelerate social support programmes to mitigate the impact of rising living costs,” Gopinath said. “The IMF remains committed to working with Nigeria to implement policies that promote economic stability and inclusive growth.”

A Path to Sustainable Growth
The meeting concluded with a reaffirmation of Nigeria’s commitment to pursuing economic stability, investment-friendly policies, and deeper regional trade integration. These efforts are expected to pave the way for sustainable growth and prosperity, positioning Nigeria as a key player in the global economy.

As Nigeria continues to navigate complex economic challenges, the collaboration with the IMF and other international partners is expected to play a crucial role in driving reforms, attracting investments, and improving the livelihoods of millions of Nigerians.

About the IMF:
The International Monetary Fund (IMF) is a global financial institution that works to ensure monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty worldwide.

Minister Dr. Dele Alake Calls for Stakeholder Collaboration as GIS Database Project Launches to Reclaim Mining Sites in Plateau State

Minister Dr. Dele Alake Calls for Stakeholder Collaboration as GIS Database Project Launches to Reclaim Mining Sites in Plateau State

 

In a significant move towards reclaiming abandoned mining sites in Plateau State, the Honourable Minister of Solid Minerals Development, Dr. Dele Alake, has called for robust collaboration among stakeholders to ensure the success of a newly launched Geographic Information System (GIS) database project. The initiative, spearheaded by ImPPPact Nigeria Alliance, aims to address the environmental and economic challenges posed by derelict mining sites while unlocking new opportunities for sustainable development.

Dr. Alake made the call during a courtesy visit by Mr. Olushola Ajayi, Managing Director of ImPPPact Nigeria Alliance, to the Ministry’s headquarters in Abuja on Monday. Represented by Dr. Ijeoma Idika, Director of Human Resources, the Minister commended ImPPPact Nigeria Alliance for its pivotal role in repositioning Nigeria’s mining sector and expressed confidence in the project’s potential to transform Plateau State.

“This project is a critical step towards addressing the environmental degradation caused by abandoned mining sites and unlocking their potential for economic use,” said Dr. Alake. “I urge ImPPPact Nigeria Alliance to leverage technical advice from the Ministry and collaborate closely with state officials, relevant agencies, and local communities to ensure its success.”

GIS Database Project: A Game-Changer for Plateau State
Mr. Olushola Ajayi, during his presentation, revealed that the GIS database project is part of a Memorandum of Understanding (MoU) signed between ImPPPact Nigeria Alliance and the Ministry in 2023. Plateau State has been selected as the first beneficiary of this reclamation initiative, which seeks to provide accurate spatial and environmental data essential for effective planning and execution.

“Currently, there is no comprehensive GIS data available for abandoned mining sites in Plateau State,” Ajayi explained. “This data is critical for site identification, environmental assessment, and land-use planning. Without it, rehabilitation efforts are significantly hampered.”

The project will be executed in two phases. The first phase involves the collation of GIS data to create a detailed database of abandoned mining pits. This data will help identify and characterize the sites, providing a foundation for their rehabilitation. The second phase will focus on reclaiming the sites and repurposing them for sustainable uses, such as solar energy generation, agriculture, tourism, or other economic activities based on their suitability.

Leveraging Advanced Technology and Expertise
To ensure the accuracy and efficiency of the project, ImPPPact Nigeria Alliance is collaborating with Intomatics, a Germany-based company specializing in geomatic services. Intomatics will employ satellite imagery techniques to gather data, which will be cross-referenced with on-the-ground realities in Plateau State.

Andreas Kuhnen, Director of Geospatial Data at Intomatics, elaborated on the technical aspects of the project. “The GIS data generated will be processed using artificial intelligence programs to extract specific information from satellite images. This will create a stable workflow for the reclamation process, ensuring precision and efficiency,” he said.

A team of experts, government officials, and local communities will work together to validate the collected data, ensuring its accuracy and relevance. The finalized data will be presented to the mining cadastre for future reference, with the aim of attracting major investors to the sector.

Transforming Abandoned Sites into Economic Assets
One of the most ambitious aspects of the project is its focus on repurposing reclaimed sites for renewable energy generation. Plateau State is poised to become a hub for solar energy, with abandoned mining sites being transformed into solar farms. This initiative aligns with global efforts to combat climate change and promote sustainable energy solutions.

“The second phase of the project will not only address environmental concerns but also create new economic opportunities for Plateau State,” Ajayi stated. “By repurposing these sites for solar energy, agriculture, or tourism, we can turn what was once a liability into a valuable asset for the state and its people.”

A Collaborative Effort for Sustainable Development
The GIS database project underscores the importance of collaboration between the federal government, state authorities, private sector players, and local communities. Dr. Alake emphasized the need for all stakeholders to work together to achieve the project’s objectives, which align with the Ministry’s broader vision of revitalizing Nigeria’s mining sector and promoting sustainable development.

As Plateau State takes the lead in this groundbreaking initiative, the project is expected to serve as a model for other states grappling with the challenges of abandoned mining sites. By leveraging advanced technology, fostering stakeholder collaboration, and prioritizing environmental and economic sustainability, the GIS database project represents a significant step forward in Nigeria’s journey towards a more prosperous and sustainable future.

About ImPPPact Nigeria Alliance:
ImPPPact Nigeria Alliance is a leading organization dedicated to driving sustainable development through public-private partnerships. The Alliance works closely with government agencies, private sector players, and local communities to implement innovative solutions for economic and environmental challenges.

About Intomatics:
Intomatics is a Germany-based company specializing in geomatic services, including GIS data collection, satellite imagery, and artificial intelligence-driven data processing. The company provides cutting-edge solutions for environmental and infrastructure projects worldwide.

Nigeria’s Data Protection Chief Joins Global Regulators at CIPL Summit 2025 in Washington, D.C.

Nigeria’s Data Protection Chief Joins Global Regulators at CIPL Summit 2025 in Washington, D.C.

 

Dr. Vincent Olatunji, the National Commissioner and CEO of the Nigeria Data Protection Commission (NDPC), represented Nigeria on a high-profile panel of global data protection regulators at the Centre for Information Policy Leadership (CIPL) Annual Members’ Summit 2025. The event, held in the United States capital, brought together leading voices in data privacy and technology regulation to discuss the future of effective oversight and enforcement in the digital age.

The panel session, titled “The Future of Effective Technology and Data Regulation, Oversight, and Enforcement,” featured in-depth discussions on the challenges and priorities facing regulators worldwide. Panelists explored how to strike a delicate balance between protecting individual privacy rights, ensuring compliance with evolving data protection laws, and fostering innovation and the beneficial use of data and technology.

Dr. Olatunji, a key figure in Africa’s data protection landscape, shared insights on Nigeria’s approach to these critical issues. He emphasized the importance of collaboration among global regulators to address the complexities of data governance in an increasingly interconnected world.

During the session, Dr. Olatunji extended a formal invitation to global privacy leaders to attend the upcoming Network of African Data Protection Authorities’ (NADPA – RAPDP) Conference and Annual General Meeting (AGM). The event, scheduled for May 2025, will be hosted by Nigeria and is expected to draw data protection experts, policymakers, and stakeholders from across the continent and beyond.

The panel also featured other distinguished regulators, including Stephen Almond, Executive Director (Regulatory Risk) at the Information Commissioner’s Office, UK; Guido Scorza, Member of Garante, Italy; Wojciech Wiewiórowski, European Data Protection Supervisor; and Denise Wong, Deputy Commissioner of the Personal Data Protection Commission (PDPC), Singapore. Each panelist shared their unique perspectives on the evolving regulatory landscape, highlighting the need for harmonized approaches to data protection in a rapidly changing technological environment.

The CIPL Annual Members’ Summit 2025 served as a platform for fostering dialogue and collaboration among regulators, industry leaders, and policymakers. Dr. Olatunji’s participation underscored Nigeria’s growing influence in the global data protection arena and its commitment to advancing privacy rights while supporting innovation.

As the world grapples with the challenges of regulating emerging technologies such as artificial intelligence, big data, and the Internet of Things, the insights shared at the summit are expected to shape the future of data protection policies and practices worldwide.

With Nigeria set to host the NADPA Conference in 2025, the event is poised to be a landmark gathering for African data protection authorities and their international counterparts, further solidifying the continent’s role in the global data privacy discourse.

About the Nigeria Data Protection Commission (NDPC):
The NDPC is the regulatory body responsible for overseeing data protection and privacy in Nigeria. Under the leadership of Dr. Vincent Olatunji, the commission has been at the forefront of advancing data protection laws and practices in Africa, ensuring compliance with global standards while promoting innovation and economic growth.

About CIPL:
The Centre for Information Policy Leadership (CIPL) is a leading global privacy and data policy think tank that works with industry leaders, regulators, and policymakers to develop innovative solutions for emerging data protection challenges.

NITDA, Beacon Security Explore AI-Powered Cybersecurity Solutions

NITDA, Beacon Security Explore AI-Powered Cybersecurity Solutions

The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE, has reaffirmed the agency’s commitment to strengthening cybersecurity through artificial intelligence (AI) and locally developed digital security solutions.

Inuwa made this known during a courtesy visit by Dr. Kabiru Adamu, the lead of Beacon Security and Intelligence Ltd, and his team at NITDA’s Corporate Headquarters in Abuja.

Discussions during the visit focused on fostering collaboration in AI-powered intelligence solutions, enhancing Nigeria’s cybersecurity capabilities, and developing indigenous tools for monitoring and mitigating digital threats.

Dr. Adamu highlighted the growing need for proactive intelligence solutions in the face of evolving cyber threats, emphasizing the importance of leveraging AI to safeguard national digital assets. In response, Inuwa reiterated NITDA’s commitment to innovation and strategic partnerships that align with Nigeria’s digital transformation agenda.

The meeting underscored the need for a multi-stakeholder approach to cybersecurity, with both parties exploring potential areas of synergy to strengthen Nigeria’s digital resilience.

Vertiv and Tecogen Forge Global Partnership to Enhance Cooling Solutions for Power-Constrained Data Centres

Vertiv and Tecogen Forge Global Partnership to Enhance Cooling Solutions for Power-Constrained Data Centres

 

Vertiv to offer Tecogen’s natural gas-powered chiller to customers leveraging alternative energy sources to reduce grid reliance

 

 

Vertiv (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, and Tecogen Inc. (OTCQX: TGEN), a clean energy company providing ultra-efficient and clean on-site power, heating, and cooling equipment, are pleased to announce a collaboration that enables Vertiv to offer Tecogen’s advanced natural gas-powered chiller technology to data centres worldwide, addressing power constraints and facilitating the deployment of AI at scale. The Tecogen solution will expand Vertiv’s industry-leading portfolio of cooling solutions.

 

As the power required for Artificial Intelligence computing and its supporting critical digital infrastructure increases, the strain on the power grid is showing, with increased demand exceeding supply in some regions. Tecogen’s solutions, proven over 40 years in demanding 24/7 applications such as healthcare and process cooling, help to reduce grid strain through natural gas-powered chiller technology. Vertiv has more than 60 years of experience in providing cooling, power and IT management for data centres of every size. This global partnership underscores Vertiv and Tecogen’s commitment to delivering cost-effective and resilient infrastructure solution options that leverage alternative energy resources.

 

“We are excited to partner with Tecogen to bring innovative cooling solutions to our customers,” said George Hannah, senior director of chilled water systems at Vertiv. “Integrating Tecogen’s technology into our portfolio allows data centre operators to overcome power constraints, optimise energy usage, and confidently expand their AI capabilities.”

 

“This relationship is advantageous for both parties,” said Abinand Rangesh, Chief Executive Officer at Tecogen. “For Tecogen, having a world-renowned partner like Vertiv enables us to scale rapidly in the data centre market. By combining Vertiv’s expertise in end-to-end data centre thermal systems with Tecogen’s proven natural gas-powered chiller technology, the collaboration offers a compelling value proposition for data centres aiming to enhance performance while managing energy consumption effectively.”

 

For more information on Vertiv’s portfolio of cooling, power and IT management technologies, visit Vertiv.com. For more information about Tecogen’s clean energy solutions, visit Tecogen.com.

 

 

inDrive’s Unstoppable Growth across Africa: A Focus on User-Centric Mobility in 2025

inDrive’s Unstoppable Growth across Africa: A Focus on User-Centric Mobility in 2025

 

inDrive (www.inDrive.com), the ride-hailing app known for its transparent and fair pricing model, has secured its position as the second most downloaded app in its category globally, and it continues to make waves in Africa, where it ranks as the third-largest ride-hailing service in South Africa, second in Nigeria, and number one in Zimbabwe and Botswana and North African countries.

 

inDrive’s success story in Africa reflects its remarkable growth trajectory, driven by its unique approach to mobility. With an innovative, peer-to-peer pricing model and a mission to challenge the traditional fare structures in the ride-hailing industry, inDrive is setting new standards in customer-centric mobility.

The inDrive Advantage: Why It’s the Most Downloaded Ride-Hailing App

What sets inDrive apart is its unwavering commitment to creating an ecosystem that benefits both riders and drivers. Unlike other ride-hailing platforms, inDrive empowers users by allowing them to negotiate the fare before confirming the ride, giving both drivers and passengers the freedom to agree on a price that works for them. This model fosters trust, increases satisfaction, and has contributed to record-breaking app downloads in 2025.

InDrive’s approach goes beyond just competitive pricing; it has built an environment where driver welfare is prioritized. The company operates with the lowest commission structure in the market, enabling drivers to keep more of what they earn, which in turn has fostered strong loyalty from local drivers across Africa.

Record Growth in Africa: inDrive’s Expanding Footprint

  • South Africa: Ranked as the third-largest ride-hailing app in the country, inDrive’s innovative model has gained a dedicated user base. Its growth has been accelerated by its focus on affordability, transparency, and safety, catering to the needs of both urban commuters and those in smaller towns. As competition intensifies, inDrive is proving that a user-focused approach is the key to long-term success.
  • Nigeria: Holding the second spot in the market, inDrive’s rapid expansion has been fueled by its distinctive no-commission fare model in most cities, creating better earning opportunities for drivers while providing affordable rides for passengers. Nigeria’s diverse population and urban landscape have proven to be a strong foundation for inDrive’s sustained success.
  • Zimbabwe & Botswana: inDrive’s number-one ranking in both countries is a testament to its ability to create localized solutions tailored to meet the unique challenges of each market. By providing access to its services where traditional public transport falls short, inDrive bridges crucial mobility gaps, ensuring more people can commute conveniently. With a strong focus on job creation, affordable transportation, and social impact, inDrive has quickly become the go-to ride-hailing app for millions.

 

Why Africa Chooses inDrive

inDrive’s approach is rooted in equity and inclusivity. The app’s growth in Africa is not just a result of its innovative pricing structure, but also its deep understanding of the diverse needs of African consumers and drivers. As the most downloaded ride-hailing app globally, inDrive’s popularity is fueled by its customer-centric model, empowered drivers, and fair pricing system.

By offering a solution that works for everyone, inDrive is reshaping the future of mobility across the African continent. Whether it’s ensuring driver safety, fair compensation, or increased access to affordable transportation, inDrive is positioning itself as the most reliable, convenient, and transparent ride-hailing option in Africa.

Network International appointed as Payment Processing Partner by MTN Group Fintech

Network International appointed as Payment Processing Partner by MTN Group Fintech

 

Network International (Network) (www.Network.ae), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider. This partnership marks a significant extension of Network’s portfolio of issuer processing collaborations throughout the African continent.

 

With a footprint spanning over 50 countries and serving over 250 financial institutions, Network International brings its expertise to this partnership which will enhance MTN Fintech’s cutting-edge mobile services and provide even greater value to stakeholders and customers across Africa.

Our collaboration with MTN Group Fintech marks a major milestone for our outsourced payments services in Africa

The partnership will focus on rolling out card issuance products across key MTN Fintech markets, starting with Rwanda which is already operational. Soon   Uganda, Ivory Coast, and Nigeria will also be covered under this collaboration.  Network International will provide a comprehensive range of services, including transaction processing, card management and online fraud prevention. MTN Fintech users will benefit from a seamless experience accessing both traditional mobile services and innovative digital payment solutions.

Dr. Reda Helal, Group Managing Director – Processing, Africa and Co-Head Group Processing at Network International commented: “Our collaboration with MTN Group Fintech marks a major milestone for our outsourced payments services in Africa. It demonstrates our ability to successfully serve Mobile Network Operators (MNOs) via our fully-fledged processing solutions and our continued dedication and commitment to the African region. We are excited to support MTN Group Fintech’s growth strategy, and its business development plans across the continent.”  

Cedric N’guessan, Executive for Payment and E-commerce at MTN Group Fintech added, “This collaboration with Network International is pivotal in enhancing financial inclusion across Africa and beyond. It enables our customers to actively engage in the global economy, aligning perfectly with our strategic goals alongside Mastercard to broaden access to digital financial services across the continent.” Read More (https://apo-opa.co/43aKuII)

MTN Group provides voice, data, fintech, enterprise wholesale and API services to more than 288 million customers in 14 African markets.

European Investment Bank (EIB) backs Africa Finance Corporation $750 Million Climate Resilient Infrastructure Fund

European Investment Bank (EIB) backs Africa Finance Corporation $750 Million Climate Resilient Infrastructure Fund

The European Investment Bank (EIB) has committed to join Africa Finance Corporation (AFC) (www.AfricaFC.org) in financing a $750 million Infrastructure Climate Resilient Fund (ICRF). This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa.

 

As part of this commitment, the EIB today confirmed it will invest $52.48 million in the Fund, which is managed by AFC Capital Partners (ACP), the asset management arm of AFC. ACP has already secured a $253 million commitment from the Green Climate Fund (GCF), marking GCF’s largest-ever equity investment in Africa. In addition, the Nigeria Sovereign Investment Authority (NSIA) and two private African pension funds have also committed to the Fund, demonstrating robust institutional backing on the continent and internationally.

The Infrastructure Climate Resilient Fund aims to accelerate climate adaptation in Africa by embedding resilience measures at every stage of infrastructure development—from design and construction to operation. Using blended finance to de-risk private investment, the Fund also integrates innovative tools such as climate risk parametric insurance to enhance protection against climate-related risks and losses. In addition, the Fund will provide technical assistance to enhance the capacity of countries seeking climate risk assessment and adaptation, aligning with the European Union’s Global Gateway initiative and the UN Sustainable Development Goals.

The EIB formally signed the agreement at the Finance in Common Summit (FICS) in Cape Town today, demonstrating the close collaboration between the EIB, AFC, and other strategic partners.

“The EIB is committed to supporting private sector investment in climate-resilient infrastructure, especially in regions most vulnerable to climate change,” EIB Vice-President Ambroise Fayolle stated at the ceremony today. “This partnership with the Africa Finance Corporation and the launch of ACP’s Infrastructure Climate Resilient Fund are a significant step towards accelerating Africa’s green and digital transition and ensuring a sustainable future for all. The EIB’s investment is not just about the initial capital injection; it is also intended to have a multiplier effect by attracting more investors, reducing risk, showcasing successful projects, and promoting best practices in climate finance.”

ACP’s fund aims to demonstrate that Africa can pursue a climate-resilient and sustainable development path by addressing market failures, mitigating environmental risks, strengthening logistics, trade, and industrialization, and accelerating the continent’s digital and energy transition.

“This Fund is crucial for bridging the funding gap for climate adaptation in Africa,” Samaila Zubairu, AFC’s President & CEO, said at the launch event today. “By focusing on climate-resilient infrastructure, we are not only securing our economic future but also creating opportunities for sustainable growth, and supporting job creation across the continent. We are glad to partner with the EIB and other investors who are committed to increasing the impact of climate finance.”

Developing Climate-Resilient Infrastructure

The ICRF focuses on Africa, the world’s most climate-vulnerable continent, by investing in infrastructure that can withstand the impacts of climate change while reducing carbon emissions. The Fund prioritizes resilient, low-carbon solutions across transport and logistics, clean energy, digital infrastructure, and industrial development, ensuring sustainable growth.

ACP’s investment strategy evaluates climate risk across both physical and transition dimensions, including emissions and climate governance. The Fund is committed to ensuring that infrastructure assets are designed, built, and operated to withstand and adapt to evolving climate conditions. To achieve this, ACP will conduct rigorous climate risk screenings and assessments for every investment, establishing a new benchmark for selecting and implementing the most effective adaptation solutions.

The Fund leverages a powerful partnership between three major institutions—EIB, AFC, and GCF—uniting their expertise, capital, and commitment to climate resilience. Aligned with the EIB’s Climate Bank Roadmap, ACP will draw on the proven track records and deep technical expertise of both EIB and AFC in infrastructure investment, creating a compelling platform to attract additional investors. Through this strategic collaboration, the $750 million fund is poised to unlock up to $3.7 billion in financing, accelerating the deployment of climate-resilient infrastructure across Africa.

The GCF will play a critical role by providing technical assistance for due diligence and climate resilience monitoring while also covering the first-loss tranches on new investments, effectively de-risking projects and attracting private capital.

Once operational, the Fund aims to invest in a diversified portfolio of 10 to 12 projects across Africa. It will also assist countries and entities in capacity building and deployment of climate risk assessment and adaptation solutions.

Further Information

Leveraging Partnerships

The Fund is built on a powerful partnership between three major institutions: the European Investment Bank (EIB), Africa Finance Corporation (AFC), and the Green Climate Fund (GCF). Through its asset management arm, AFC Capital Partners (ACP), AFC is collaborating with the EIB to deploy the Fund, leveraging both institutions’ proven track records and technical expertise in infrastructure investment to attract additional investors. The partnership is further strengthened by the GCF’s critical role in providing first-loss protection and technical assistance, ensuring a robust framework for scaling climate-resilient infrastructure across Africa.

 

Mobilizing Climate Finance

The EIB’s $52.48 million commitment is a strategic step toward the Fund’s $750 million target, aimed at catalysing additional investments from both private and public sector partners into climate-resilient infrastructure. This commitment is expected to help mobilize approximately $3.7 billion in total financing, driving tangible, on-the-ground impact across Africa.

The EIB is committed to supporting private sector investment in climate-resilient infrastructure, especially in regions most vulnerable to climate change

 

Focusing on EIB’s core priorities agreed by ECOFIN

The EIB investment will support the climate bank ambition to accelerate international action on adaptation and resilience. With an expected climate action and environmental sustainability contribution of about 80%, the operation will contribute to EIB’s objectives to dedicate (i) 50% of its financing toward climate action and environmental sustainability and (ii) 15% of its financing toward to climate adaptation by 2025. The Fund supports three of the five EU Global Gateway thematic priorities: i) climate and energy, ii) transport and iii) digital.

 

Addressing Market Failures

The EIB investment in ACP’s Infrastructure Climate Resilient Fund is intended to address the scarcity of equity capital for greenfield infrastructure projects, and to help overcome other market failures such as the lack of incentives for green energy solutions or market failures related to transport accessibility and digital connectivity. The Fund also aims to improve the efficiency of logistics and trade corridors and contribute to the digital and energy transition.

Supporting the Green and Digital Transition

By investing in clean energy and digital infrastructure, the Fund aims to support the broader green and digital transition in Africa and contribute to diversification and security of energy supply, as well as improved access to digital connectivity.

Enhancing Capacity for Climate Risk Management

ACP’s Infrastructure Climate Resilient Fund will provide technical assistance to build capacity for climate risk assessment and adaptation, with a focus on integrating climate risk considerations into project design and construction.

Creating Jobs and Economic Opportunities

Projects backed by ACP’s Infrastructure Climate Resilient Fund will contribute to job creation, economic growth, and improved quality of life in the target regions. These projects are expected to generate significant temporary employment during construction as well as permanent jobs during operation.

Key projects in the ICRF pipeline, such as the Lobito Corridor, underscore AFC’s pivotal role in driving transformational and climate-resilient infrastructure investments across Africa. As the lead developer of the project, AFC is spearheading efforts to enhance regional connectivity and economic integration through the corridor, which is set to become a critical trade and logistics route linking Angola, the Democratic Republic of Congo (DRC), and Zambia.

The Lobito Corridor is expected to unlock vast economic opportunities by facilitating efficient transportation of critical minerals, agricultural goods, and other commodities, reducing dependency on other congested export routes and fostering industrial development along the wider corridor. Alongside partners including the European Union, the United States Government, the African Development Bank and the governments of Angola, the Democratic Republic of Congo and Zambia, AFC is working to ensure the corridor is developed with climate resilience in mind, integrating sustainable infrastructure solutions that can withstand environmental challenges while promoting long-term economic growth.

Beyond Lobito, the ICRF pipeline includes other strategic projects across transport, clean energy, and digital infrastructure, all designed to attract institutional investment and address Africa’s pressing infrastructure gap. Through these initiatives, ACP continues to highlight its commitment to mobilizing capital for projects that deliver both financial returns and lasting developmental impact.

The investments backed by the Fund will actively promote the adoption of Environmental, Social, and Governance (ESG) best practices, including gender equality, protection, and anti-discrimination policies.

 

De-risking Investments

The Fund’s structure, with support from the EIB and other institutions like the Green Climate Fund (GCF), aims to de-risk climate investments.

The GCF is providing grant funding to help with due diligence and monitoring of climate resilience, which can make the investments more attractive to other investors. Additionally, the Fund will integrate innovative climate risk insurance to complement traditional indemnity programs.

Aligning with Global and Regional Objectives

The EIB investment aligns with EU strategies, the African Union’s Agenda 2063, and the UN Sustainable Development Goals, and aims to support the implementation of Nationally Determined Contributions.

Africa’s Oil & Gas Sector hires lobbying firm to push African issues in Washington and the Trump administration

Africa’s Oil & Gas Sector hires lobbying firm to push African issues in Washington and the Trump administration

The African Energy Chamber (AEC) (https://EnergyChamber.org) – representing the voice of the African energy sector – has enlisted international consulting firm Stryk Global Diplomacy (SGD) to support oil and gas engagement between the U.S. and Africa. This collaboration will not only ensure that Africa’s energy interests are effectively represented in U.S. legislative and policy discussions, but also aims to facilitate greater capital and technology injection by U.S. firms into African oil and gas projects.

 

The strategic partnership will strengthen U.S. understanding of Africa’s vital role in enhancing global energy security, while fostering greater investment and cooperation. SGD will also advise the AEC on fostering a more inclusive and constructive approach to G20 energy dialogues in the lead-up to and during the African Energy Week (AEW): Invest in African Energies conference – taking place in Cape Town from September 29 to October 3, 2025. The collaboration will address ongoing challenges such as financing and policy issues that impact African oil and gas projects. Led by Founder and Chairman Robert Stryk, SGD offers strategic diplomatic solutions, making it a strong partner for the AEC as it works to accelerate energy development across the continent.

“Africa needs to produce energy for its people, its development and meet global demand so we avoid volatile energy markets that hurt both American and African consumers,” stated Stryk. “Vilifying Africa’s energy industry – the economic engine of multiple nations – because it is based on fossil fuels, although the proportion of renewables is growing, is not justified. Africans need energy to fix energy poverty issues and spur economic growth. They should be allowed to make their own choices. Our firm will work to bring energy matters of Africans to the important decision markets globally.”

As Africa’s oil and gas industry faces increasing pressure from climate groups and stringent Environment, Social and Governance (ESG) regulations, this collaboration will tackle critical challenges, with finance and climate policies being the most pressing. In recent years, regulations restricting oil and gas financing have limited Africa’s ability to develop its natural resources. Notably, the European Union has sought to reduce or eliminate funding for fossil fuel projects, while environmental organizations such as Greenpeace continue to oppose lending. Up to 11 European banks have cut access to financing for upstream oil and gas projects, despite rising demand across the EU and broader global economy.

Africa needs to produce energy for its people, its development and meet global demand so we avoid volatile energy markets that hurt both American and African consumers

In this context, the U.S. – with its extensive network of major oil and gas companies and financial institutions – stands to play a key role. African national oil companies, indigenous firms, independents and international energy companies are struggling to secure the financing needed to develop new oil and gas projects and combat energy poverty. However, strengthened collaboration with the U.S. could reverse this trend. The U.S. is not only one of the world’s largest oil and gas producers but, under its new administration, is expected to have an increased presence in Africa’s energy sector. There are significant opportunities for U.S. oil and gas companies in Africa.

In the oil sector, Africa’s mature producers including Angola, Libya and Nigeria are launching licensing rounds in 2025 to attract fresh investment in exploration projects. Emerging markets such as Senegal, Namibia and Ivory Coast are also seeking increased upstream investment following billion-barrel offshore discoveries. Countries like Gabon, Ghana, Equatorial Guinea and Algeria – some of the continent’s largest oil producers – are facing potential phase-out of finance and production, which could devastate these economies and leave their populations in the dark.

Meanwhile, Africa’s natural gas sector, with over 620 trillion cubic feet of proven reserves, offers the promise of increased energy supplies and reduced emissions. With over 600 million lacking access to electricity and 900 million relying on traditional biomass for cooking, Africa’s energy future must be driven by pragmatic, Africa-centric solutions. As a cleaner-burning fuel, natural gas offers a sustainable pathway to industrialization and economic empowerment. Major projects like Mozambique’s Rovuma Basin developments, Senegal and Mauritania’s Greater Tortue Ahmeyim LNG, Tanzania LNG and the Republic of Congo’s Marine XII permit have the potential to transform the continent’s energy matrix, but more investment is needed to address energy poverty effectively.

“Stryk is a super Lobbyist. He understands Africa and he gets results. He is adaptive and forward-thinking. He achieves results by building consensus. I am confident he is going to help give the African energy sector a voice in Washington,” stated NJ Ayuk, Executive Chairman of the AEC.

“Given that 600 million people on the continent lack access to electricity and 900 million people lack access to clean cooking technologies, it’s impossible — even inhumane — to discuss climate change without addressing energy poverty. The notion that producing energy in Africa will lead to a ‘carbon bomb’ is misleading and ignores the critical need for energy access across the continent. Our partnership with SGD is a crucial step in ensuring U.S. policymakers understand the importance of oil and gas in Africa’s economic development. Energy poverty remains one of the biggest threats to Africa’s future, and we must work with partners who recognize that natural gas is not the problem – it is part of the solution,” concluded Ayuk.

NAPAfrica Internet Exchange achieves 5Tbps traffic milestone, driving Africa’s digital transformation

NAPAfrica Internet Exchange achieves 5Tbps traffic milestone, driving Africa’s digital transformation

 

 

NAPAfrica, along with the support of its dynamic peering community, has reached a new milestone of five terabits per second (Tbps) of traffic. NAPAfrica remains Africa’s fastest-growing Internet Exchange Point (IXP) and one of the global top ten internet exchanges by total traffic volume, reinforcing its position as the continent’s premier peering and interconnection hub.

 

With over 655 networks peering at its exchange points, NAPAfrica continues to play a critical role in keeping African internet traffic local, reducing costs, and improving network performance.

 

Key traffic milestones in NAPAfrica’s growth:

2016: Traffic peaked at 100Gbps.

2018: Traffic peaked at 500Gbps.

2021: Traffic surged to 2Tbps.

2023: Traffic surpassed the 4Tbps mark.

February 2025: Traffic reached 5Tbps.

 

NAPAfrica statistics:

Physical connected ports: 2 244

Total connected capacity: 41.5Tbits

 

Ten factors driving NAPAfrica’s growth:

 

1. Strategic locations in South Africa

NAPAfrica operates in Johannesburg, Cape Town, and Durban, three of Africa’s key internet traffic hubs. In these locations, NAPAfrica serves as a critical interconnection point for regional and international networks.

 

2. Teraco data centres

NAPAfrica is physically hosted within Teraco data centres, Africa’s largest carrier- and vendor-neutral data centre operator. Teraco facilitates direct interconnections with over 655 networks, including major ISPs, CDNs, cloud providers, and enterprises, offering a seamless and cost-effective peering experience.

 

3. Presence of major content and cloud providers

The exchange attracts global technology leaders such as Akamai, Amazon, Cloudflare, Google, Meta, Microsoft, and Netflix, enabling direct content delivery and cloud access in Africa.

 

Teraco and NAPAfrica have invested in additional cache servers to cover regional connectivity requirements, including hosting Netflix Open Connect in Cape Town and Durban. By reducing the distance data must travel, this initiative enables faster load times for local audiences, enriching the user experience while making participation even more attractive for new members.

 

4. Free peering and cost efficiency

Unlike many global IXPs, which charge for port access, NAPAfrica offers free peering. This enables ISPs, content providers, and enterprises to lower transit costs while improving network performance.

 

5. Expansion of the peering community

Over the past year, NAPAfrica has added more than 40 new peers, including prominent companies like Mimecast, Fortinet, and Tencent, enhancing its peering ecosystem and increasing traffic exchange efficiency.

 

6. Introduction of 400Gbps interconnection options

In a first for Africa, NAPAfrica now offers 400Gbps interconnects, accommodating the growing bandwidth demands of content and cloud providers.

 

7. Growth of local and regional networks

Most of Africa’s internet traffic was traditionally routed through Europe, increasing latency and costs. NAPAfrica has helped keep African traffic within the continent, leading to improved performance for ISPs, mobile operators, and enterprises, while fostering a more self-sufficient African internet ecosystem.

 

8. Subsea cable connectivity boost

South Africa’s strategic position as a landing point for subsea cables like 2Africa, ACE, EASSy, Equiano, METISS, SAT3/SAFE, Seacom, , and WACS has bolstered international connectivity. Networks across Southern, East, and West Africa peer at NAPAfrica to access global content efficiently.

 

9. Growth in mobile and broadband internet usage

With Africa experiencing exponential growth in mobile internet and fibre broadband penetration, ISPs and mobile operators increasingly rely on NAPAfrica to support demand for video streaming, gaming, and cloud services.

 

10. Enhanced network visibility and performance optimisation

NAPAfrica’s adoption of the Kentik Network Observability platform provides peering members with critical network insights, allowing them to optimise traffic flows, detect anomalies, and enhance performance.

 

As Africa’s digital landscape continues to evolve, NAPAfrica remains at the forefront of connectivity, providing the infrastructure necessary to support Africa’s digital transformation. With continued growth and expansion, the exchange is set to play an even more significant role in shaping the future of the African internet economy.

 

Ends.

About NAPAfrica

NAPAfrica is Africa’s leading interconnection platform, supporting a diverse ecosystem of global carriers, cloud providers, CDNs, ISPs, enterprises and digital services. Operating Internet Exchange Points (IXPs) within Teraco’s Cape Town, Durban, and Johannesburg data centres, NAPAfrica is dedicated to making internet access more accessible across Africa. The IXP now has over 655 members from over 50 countries and hosts community events and online discussions to foster collaboration. Visit https://www.napafrica.net for more details.