Author: Samuel Suru

The African Export-Import Bank (Afreximbank) has underscored the crucial role of factoring and supply chain finance (SCF) in narrowing Africa’s significant Small and Medium Enterprises (SME) financing gap, which is currently estimated at US$300 billion annually. Speaking at Afreximbank’s recent annual Factoring Workshop in Abidjan, Côte d’Ivoire, Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank, highlighted the necessity of scaling the market dramatically to unlock the continent’s transformative potential. Awani noted that while Africa’s factoring volumes have more than doubled in recent years, rising from €21.6 billion in 2017 to €50 billion in 2024, and…

The Federal Government (FG) officially launched the ₦50 million Student Venture Capital Grant (S-VCG) on Monday in Abuja, an initiative designed to encourage innovation, research excellence, and entrepreneurship across Nigeria’s tertiary institutions. Dr. Tunji Alausa, the Minister of Education, emphasized that the program represents a strategic national investment in young innovators and aligns directly with President Bola Tinubu’s Renewed Hope Agenda for Education. Alausa described the S-VCG as more than a grant scheme; it is intended to identify high-potential ideas from students and foster a lasting culture of creativity and enterprise within Nigerian campuses, ultimately aiming to ignite a new…

Global web hosting and website-building company Hostinger, headquartered in Lithuania, has officially launched its services in Nigeria. The company is targeting local small businesses and entrepreneurs, offering a suite of AI-powered website and business tools alongside crucial Naira-based payment options to streamline the process of establishing an online presence. This launch is highly strategic, aligning with Nigeria’s expanding digital economy, which contributed approximately ₦7 trillion to GDP in Q1 2025 and is underpinned by over 39 million MSMEs. Hostinger aims to address the common hurdles faced by these businesses, such as limited digital skills, unreliable infrastructure, and high operational costs,…

Proparco, the subsidiary of the French Development Agency (AFD) focused on private sector financing, has provided a €1.5 million ($1.7 million) investment guarantee to Teranga Capital. This critical mechanism is designed to cover part of the risks associated with a €3 million investment portfolio dedicated to the growth of Small and Medium-sized Enterprises (SMEs) in Senegal. The guarantee acts as a risk-sharing tool, enabling Teranga Capital to deploy equity investments in high-impact sectors, including agribusiness, energy access, and information and communications technology, by lowering the cost of risk for the investor and allowing the firm to target SMEs that previously…

Teranga Capital, the Dakar-based impact investment firm co-founded by prominent Senegalese entrepreneur Omar Cissé and Olivier Furdelle in 2016, has secured a crucial $1.8 million (€1.5 million) ARIZ PRIME portfolio guarantee from Proparco. This strategic financial mechanism is key to unlocking a €3 million ($3.5 million) investment portfolio dedicated to supporting high-impact local businesses. The guarantee directly addresses the structural financing challenge facing growth-stage SMEs in Senegal and the broader francophone West Africa region.  De-Risking the “Missing Middle” The ARIZ PRIME guarantee is a highly targeted financial tool, part of Proparco’s “Investing in a Sustainable and Resilient Economy” strategy, designed…

Ethiopia’s Ministry of Industry, in partnership with state-owned Ethio Telecom, has launched a new business-to-business (B2B) e-commerce platform named E-Tamirt. This initiative is a strategic move designed to modernize industrial transactions by providing a centralized digital marketplace where manufacturers can efficiently source raw materials, connect with suppliers, and sell their finished products to buyers across Ethiopia and regional African markets. Industry Minister Melaku Alebel stated that the platform directly addresses long-standing supply and distribution bottlenecks that have hindered factories, providing a unified digital channel for transactions that is expected to increase national production capacity, foster innovation, and improve the long-term…

Imo State is poised for accelerated economic growth, following an announcement at the Imo State Economic Summit 2025 in Owerri that positions the state as a key pillar in Nigeria’s national economic diversification agenda. The Vice President, speaking at the event, confirmed that the Federal Government is actively opening new financing pathways for local entrepreneurs. This support will be channeled through development finance institutions such as the Bank of Industry (BOI) and the Development Bank of Nigeria (DBN), providing critical facilities for Small and Medium-sized Enterprises (SMEs) seeking to scale operations, innovate, or access new markets.  Funding and Partnership…

The Central Bank of West African States (BCEAO), the central monetary authority for the eight-nation West African Economic and Monetary Union (WAEMU or UEMOA) bloc, announced on Wednesday that it would maintain its key interest rates at current levels.1 The decision was reached during a regular meeting of its Monetary Policy Committee (MPC) in Dakar. The BCEAO opted to keep the main rate at which it lends to commercial banks steady at 3.25%, and the marginal lending rate unchanged at 5.25%. These rates have been in effect since June 16, 2025. Additionally, the reserve requirement for commercial banks remains…

Cameroon is poised for a significant upgrade to its infrastructure and business capacity, following the approval of a US$29 million trade finance facility by the African Development Bank (AfDB) for Crédit Communautaire d’Afrique-Bank (CCA-Bank). A vital portion of this funding is specifically allocated to accelerate the modernization of the country’s crucial telecommunications infrastructure. The facility was formally approved during an AfDB board meeting held in Abidjan, Côte d’Ivoire, on December 1st. This is a landmark arrangement, as it represents the AfDB’s first direct financing deal with CCA-Bank. Focus on Telecoms and Economic Growth The financial facility operates as a transaction…

Airtel Money customers in Kenya can now enjoy seamless transactions by making payments directly to Diamond Trust Bank (DTB) Till Moja merchants, thanks to a new strategic partnership between Airtel Money and DTB. This collaboration is specifically designed to empower small and medium-sized enterprises (SMEs) by providing them with more flexible, convenient, and efficient digital payment solutions. A major benefit for customers is the attractive incentive offered on Paybill transactions: users will receive a guaranteed 50% cashback in airtime on all Paybill payments made through this channel. This reward system encourages the adoption of digital payments while offering tangible value…