Author: Victor Olayiwola

Nollywood’s influence on Nigeria’s economy goes far beyond the actors appearing on screen. Behind every movie is a network of professionals and businesses whose livelihoods depend on the country’s massive film and entertainment ecosystem. From writers and directors to editors, cinematographers, makeup artists, costume designers and sound engineers, film productions create opportunities for workers across a wide range of professions. The industry’s economic footprint stretches even further outside the production set. Transport operators move actors and equipment, hotels accommodate production crews, caterers provide meals, equipment companies supply cameras and lighting gear, while marketers and digital creators help films reach audiences.…

For some entrepreneurs, building a business means concentrating on one industry and expanding within it. Dafe Olusegun Akako has taken a different route, developing ventures across entertainment, automobiles, travel, household products and community-focused services. His businesses operate across the United Kingdom and Nigeria, reflecting a growing form of African entrepreneurship in which founders serve customers and communities across borders. Akako is associated with several ventures, including Mc Sober Entertainments UK Ltd, Qui and Qui Nigeria Limited, Quick and Quick UK Limited and M3 Travels and Tours. Although the businesses operate in different sectors, they share a common approach: identifying everyday…

African governments facing expensive borrowing, limited access to capital and growing debt pressures are increasingly looking for ways to finance infrastructure without placing additional strain on public finances. One option attracting greater attention is asset recycling — a model that allows governments to raise capital from existing public infrastructure while retaining ownership of the underlying assets. The approach could provide governments with a new source of funding for roads, transport networks, utilities and other infrastructure projects at a time when traditional sources of public financing are becoming increasingly constrained. How asset recycling works Under an asset-recycling arrangement, a government gives…

Egypt is offering foreign investors a route to citizenship through a government-approved investment programme, with qualifying applicants able to begin the process with a $250,000 non-refundable contribution to the state. The programme is included in Henley & Partners’ 2026 Residence and Citizenship Programs report, which tracks investment migration schemes available in countries around the world. Egypt is listed alongside countries including Austria, Argentina, Jordan, Malta and St. Kitts and Nevis. Rather than relying on a single investment route, Egypt’s programme gives applicants several options depending on the amount and type of capital they are willing to commit. Four investment routes…

Ethiopia’s ambitious plan to build a $12.5 billion international airport is attracting major construction companies from around the world, turning the project into an increasingly important commercial contest involving Chinese, European, Middle Eastern, Turkish, Indian and Russian firms. Ethiopian Airlines completed the prequalification process for four major construction packages in April, producing a shortlist of 33 positions across the project. Chinese companies have emerged as the strongest presence on the shortlist, securing 15 positions either independently or through joint ventures involving 10 groups. Among the Chinese companies shortlisted are major construction players including China Communications Construction Company, China Road and…

For decades, the greatest hurdle to intra-African trade hasn’t been a lack of goods to sell, but the bureaucratic nightmare of moving them across borders. Disconnected customs systems, overlapping regulations, and paper-heavy processes have historically turned the continent into a fragmented maze. Now, the African Continental Free Trade Area (AfCFTA) is taking a decisive step to tear down those digital walls—and it is using a Nigerian blueprint to do it. The Infrastructure Concession Regulatory Commission (ICRC) has confirmed that Nigeria’s domestic Customs Modernisation Project is serving as the foundational model for AfCFTA’s ambitious $3.1 billion continental customs overhaul. This marks…

The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has announced a $25 million equity investment in Jumia Technologies AG (NYSE: JMIA). The capital injection is structured to accelerate Jumia’s growth trajectory across its eight active core markets in Africa, expanding its integrated online marketplace, logistics footprint, and digital payment infrastructure. Projected Economic & Operational Impact Performance Metric Expected Target / Outcome IFC Equity Investment US$25 Million in Jumia Technologies AG Merchant Engagement Empowerment of ~60,000 active local sellers annually Direct Employment Creation Support for ~1,800 direct corporate jobs Gig Economy & Sales Network…

For four consecutive years, Nigeria’s private wealth landscape told a story of steady erosion. Sharp foreign-exchange devaluations systematically erased the dollar valuations of local assets, stripping away 1,600 millionaires in 2024 alone. But data from the 2026 Africa Wealth Report by global intelligence firm New World Wealth signals a clear pivot: Nigeria added 900 dollar-denominated millionaires between June 2025 and June 2026, boosting its High-Net-Worth Individual (HNWI) count by 12.5% to 8,100. The Twin Drivers: A Rebound in the Currency and Enterprise This shift isn’t an accident. It stems from a structural recovery driven by currency stabilization and organic business…

A high-profile consortium featuring South Africa’s Department of Trade, Industry and Competition (the dtic), Standard Bank, MTN, and DHL has launched a collaborative ecosystem to help Sub-Saharan African SMEs overcome structural barriers to regional and international trade. The initiative falls under the umbrella of DHL’s GoTrade programme and supports DHL’s broader €300 million investment commitment across the African continent by 2030. Stakeholder Roles & Core Initiatives The partnership merges public sector policy with financial, technological, and logistical infrastructure to address four primary SME friction points: financing, digital adoption, export readiness, and market access. Partner Sector / Focus Area Strategic Contributions…

Cairo-based edtech provider UMAMI E-Learning Solutions has introduced its flagship Learning Operating System (LOS), backed by a phased investment commitment surpassing EGP 50 million (roughly $1 million). Tailored for enterprise-level deployments across the MENA region, the platform aims to serve as a central operational spine connecting skill building, institutional performance, and workforce readiness into a unified data ecosystem. Founded in 2019 by Ahmed Seif El-Din, UMAMI is executing a broader pivot from digital content creation to building full-scale AI learning infrastructure. By positioning LOS similarly to ERP software for business management, the company addresses a major structural gap in regional…