Author: Diella Teku
The Coca-Cola Company today announced the results of a comprehensive, Africa-wide socio-economic impact study during the 2025 U.S.-Africa Business Summit in Luanda, Angola. The study shows that the Coca-Cola system, made up of The Coca-Cola Company and its authorized bottlers, working with a wide network of suppliers, manufacturers, service providers and customers, contributed $10.4 billion in value-added economic activity across its value chain in Africa in 2024. The Coca-Cola system supported more than 1 million jobs across its value chain on the continent in sectors like retail, agriculture, manufacturing, transport and services. This included 36,800 direct Coca-Cola system jobs, plus…
PassionAir has announced a reduction of up to 10% in its airfares across all of its domestic routes in Ghana. The reduction comes after the Minister for Transport, Joseph Bukari Nikpe at a breakfast meeting oragnised by the Ghana Civil Aviation Authority appealed to domestic airlines to reduce prices as the cedi appreciate against some foreign currencies. In response, the airline, explained that the fare adjustment was decided in reaction to the recent strengthening of the cedi against major foreign currencies, particularly the U.S dollar. “At PassionAir, we are committed to ensuring our valued customers benefit directly from positive market…
Stryde has acquired Qora71, the angel investment network launched with support from Hub71, and will relaunch it as Stryde71, a new vertical within its DFSA-regulated platform focused on venture capital and startup deal syndication. Founded earlier this year by Youssef Salem, Qora71 built a digitally enabled angel network from scratch, onboarding over 130 investors, completing 50+ deals, and deploying more than $2 million in capital in under five months. The acquisition marks Stryde’s formal entry into venture capital and expands its multi-vertical private markets platform. Stryde71 will combine Qora71’s syndicate-led investment model with Stryde’s end-to-end infrastructure, enabling both qualified and…
Leadway Assurance Company Limited has posted N173.2 billion in insurance revenue, representing a 51 per cent increase from N114.4 billion recorded in 2023. The company stated that the exceptional growth not only solidifies Leadway’s market leadership but also significantly supports the Federal Government’s initiatives aimed at growing the Nigerian economy by contributing substantially to the nation’s financial services sector and fostering economic stability. In a move that aligns with the regulatory intention of deepening insurance penetration across Nigeria, the company also reaffirmed its unwavering commitment to policyholder protection by settling an impressive N117 billion in total claims. This payout maintains Leadway’s…
Megatrends are transformative forces that shape economies and redefine industries. Wealth Management (WM) is one such powerful trend, particularly in the Middle East, with the UAE at the forefront. For discerning investors, the fundamental question remains: How do I strategically manage my assets and liabilities while ensuring optimal legal structures for taxation and confidentiality? The core wealth imperatives Every investor — whether affluent, High Net Worth (HNW) or Ultra High Net Worth (UHNW) — shares three primary objectives for themselves, their families, and philanthropic endeavors: • How do I grow, preserve, and transfer my wealth most efficiently? • Do I…
The UAE’s top 10 listed banks have posted a strong first quarter marked by healthy income growth, cost optimisation, and strategic repositioning —despite a backdrop of global economic uncertainty and regional interest rate adjustments. According to the latest UAE Banking Pulse from Alvarez & Marsal (A&M), aggregate net income of the 10 banks for the quarter ending March 2025 jumped by 8.4 per cent quarter-on-quarter (QoQ) to Dh 22.2 billion. This performance was powered largely by a substantial 59.3 per cent drop in impairment charges and an 18 per cent surge in fee and commission income. Though net interest income…
Representatives of the African Development Bank Group have concluded a week-long high-level mission to Ghana, marking the institution’s first major engagement with the country’s new administration under President John Dramani Mahama. The delegation, led by Solomon Quaynor, the Bank Group’s Vice President for Private Sector, Infrastructure, and Industrialization, conducted extensive consultations with key government ministries, public agencies, and private sector stakeholders, to align the Bank’s support with Ghana’s transformational development priorities. The agencies included the ministries of Roads and Highways; Communication, Digital Technology and Innovation; the Bank of Ghana; Volta River Authority; Ghana Ports and Harbors Authority; Ghana Infrastructure Investment…
The Africa Finance Corporation (AFC), UNIDO, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Union of Arab Banks (UAB), have formalized new strategic partnerships under the Islamic and Arab Finance for Economic Transformation in Africa, the Arab Region and Beyond (IFETAA) Programme. Access to finance remains one of the most significant barriers to SME growth and economic transformation, particularly in Africa, the Middle East and South Asia. Only one in five African firms has access to credit, and those that do often face prohibitively high interest rates averaging 25 percent, compared to just 5 percent in…
African Export-Import Bank (Afreximbank) has signed an agreement to provide the Banque de Développement des États de l’Afrique Centrale (BDEAC) with EUR 100-million trade finance facility to support critical regional integration projects in the Central African Economic and Monetary Community (CEMAC). The facility would also support the upgrading of trade-enabling infrastructure in the CEMAC region. The agreement was signed in Abuja, Nigeria, on June 5, 2025 on the sidelines of the official launch of the African Medical Centre of Excellence (AMCE). Prof. Benedict Oramah, Afreximbank’s President and Chairman of the Board of Directors, signed for the Bank, while Dieudonné Evou…
Bitcoin.com, a global leader in crypto news, education, and self-custodial products, has officially joined the DMCC Crypto Centre, establishing its first office in the Middle East and North Africa (MENA) region. This move further solidifies DMCC’s growing reputation as a major hub for Web3 and blockchain innovation. Belal Jassoma, Director of Ecosystems, DMCC, said, “Bitcoin.com’s decision to establish its regional headquarters within our community highlights the global pull of the Crypto Centre and the scale of opportunity that Dubai represents today.” Corbin Fraser of Bitcoin.com, Belal Jassoma of DMCC, and other officials The DMCC Crypto Centre, located in Uptown Tower,…