Economy
Nigeria, Kenya, South Africa innovative start-ups invited to take part in a global tech project
The UK’s Department for Digital Culture, Media and Sport has launched a scheme to develop next generation of African start-ups. According to a release from the department application process is underway after government ministers and business leaders attended first ever UK-Africa Investment Summit. Africa has a fast-growing tech sector which is driving growth and creating jobs on the continent. Go Global, a scheme run by the UK Department for Digital, Culture, Media and Sport through its International Tech Hub Network said it aims to build links with the UK’s thriving digital sector and pave the way for future economic partnerships. The successful programme, which first launched last year, is currently open to firms from Kenya, Nigeria and South Africa developing tech solutions in finance, agriculture, health and clean energy. Entrepreneurs who have developed products that are ready to go to market and already raised investment are invited to apply.
Digital Minister Matt Warman said: “Africa is home to a rapidly growing tech sector and it was great to welcome leading figures from across the continent to the recently held UK-Africa Investment summit. Through the Go Global Africa project we are giving entrepreneurs the support they need to grow their business and benefit from the UK’s world-leading tech and innovation expertise. This will allow them to continue developing technology to improve lives around the world. I encourage all those with the talent and ambition to succeed to apply for a place on this exciting project.”
Africa is home to a rapidly growing tech sector. Its start-ups raised 50 per cent more venture capital in 2017 than in 2016. The majority of this is being invested in South Africa (£130 million), Kenya (£114 million) and Nigeria (£89 million). Nigeria’s tech sector generates more than 10 percent of the country’s economic output and the sector is projected to create three million jobs and generate £67.4 billion for the economy by 2021. Kenya’s technology sector is growing rapidly and is worth more than 11 percent of the country’s economic output. It is considered one of the most vibrant, advanced and successful in Africa. South Africa attracted a record amount of investment in tech of any African country in 2017. It raised almost £128m and research by the World Economic Forum ranks it as the best place to do business in Africa.
The Digital Access Programme aims to boost digital skills and connectivity and build the cybersecurity capacity of partner countries. It will also help create a thriving digital ecosystem that will stimulate innovation to address local development challenges, create skilled jobs and generate partnerships between the UK and Africa. The launch of Go Global Africa 2020 coincided with the recently held UK-Africa Investment Summit in London which brought together businesses, governments and international institutions to showcase and promote investment opportunities across Africa. Attendees at the Summit included the participants of the Africa-UK: Female Tech Founders 2020 programme which saw 15 of Africa’s most ambitious women entrepreneurs visit the UK for a three-day programme to learn how to grow their business, access world-class mentoring from UK tech leaders and network with investors.
Economy
Bayelsa bans illegal mining activities
Bayelsa State government has placed an outright ban on all unauthorized and illegal mining of mineral resources in communities across the state.
It also issued a stern warning to community leaders who had been reportedly signing memoranda of understanding with illegal miners in their domains to stop forthwith or face sanctions, declaring such agreements already entered into as null and void and of no effect.
Governor Douye Diri made the declarations, on Monday, during a town hall meeting with community leaders, top government officials and other critical stakeholders from Southern Ijaw, Brass and Ekeremor Local Government Areas of the state in Yenagoa.
Diri, who was represented by his Deputy, Senator Lawrence Ewhrudjakpo, described the illegal mining of “black sand” also known as silicon at Foropa, Agge, Die-ama, and other coastal communities in the state by miners from outside as a dangerous threat to the safety of the Bayelsa environment and health of the people.
While directing the immediate suspension of all such mining activities in all parts of the state, the governor pronounced an embargo on communities from signing memoranda of understanding (MoUs) with companies, without consulting with government, to mine minerals in their areas.
His words, “The state has recently witnessed a dimension we are not comfortable with. There is a developing issue in Ekeremor, Brass and Southern Ijaw LGAs. People from outside the state are illegally mining silicon or black sand in our community, without the authorization of government, and that has to stop forthwith.
“It is both dangerous to the safety of our environment and health. Unchecked Illegal mining activities in the north contributed to the banditry that has engulfed several states in the north. We won’t allow that here.
“We learn some communities have gone ahead to sign MoUs with these illegal miners. Government is angry with those communities for signing agreements with miners without consulting the relevant government institutions and agencies.
“Government is, therefore, directing the immediate suspension of all such illegal silicon or black sand mining activities across the state.
“An embargo is hereby placed on MoUs between communities and companies from within or outside the state. And every MoU already signed without government approval is hereby declared invalid and of no effect.”
He pointed out that while his administration is creating the enabling environment to attract both foreign and local investors, it would not tolerate any business to undermine the security and safety of the people and their environment.
He warned that paramount leaders and other community leaders who violate the order would be arrested and prosecuted in line with relevant laws of the state, stressing that illegal mining does not only violate environmental impact assessment laws, but also poses a serious security threat and robs the state of legitimate revenues.
In his submission, the Commissioner for Environment, Hon. Ebi Ben-Ololo, stressed the need for communities to obey an extant law passed by the Bayelsa State House of Assembly, which regulates and outlines the procedure for carrying out mining activities with necessary government authorization.
Economy
Miners kick against northern governors’ proposed ban on mining activities
The Miners Association of Nigeria says banning mining activities in the country is not the solution to the country’s security challenges.
The association said this in a statement jointly signed by its national president, Dele Ayankale, and its national secretary, Sulaiman Liman, on Monday. The Northern States Governors’ Forum recently called for the suspension of mining activities for six months following the abduction of school children and killings in some states.
They identified illegal mining as a key driver of insecurity and stated that the suspension would allow for a comprehensive audit and revalidation of all mining licences in consultation with state governments. Nonetheless, MAN said that only illegal mining had been linked to fueling terrorism and other security challenges, not legal operations, and decried that the ban would hurt legal miners while giving room to illegal operations.
Mr Ayankale argued that previous bans on mining, as a strategy to curb insecurity, had not yielded positive outcomes, as seen in the 2019 ban on mining activities in Zamfara, saying the negatives outweigh the positives. He said, instead, banditry, kidnappings, and terrorism escalated in the state and extended to neighbouring states of Katsina, Kaduna, Niger, and Kebbi, among others.
“It is the disorderly, illegal mining that is conducted without licences and government regulations and control that practices money laundering and fuels insecurity. A clear distinction must be made between legal and illegal mining. Therefore, stigmatising mining as the cause of insecurity is a misnomer,“ he explained.
He stressed that the ban would be unjust and a serious disservice to legal miners and their employees, leading to mass unemployment, worsening multidimensional poverty, and insecurity. The victims of such bans, he said, were usually legitimate stakeholders, as illegal miners mostly linked with terrorists would still have access to mineral resources due to the government`s poor logistics and personnel to enforce compliance.
“Unfettered access of illegal miners to the mineral resources in a banned mining location offers incentives and empowerment to criminals as they exchange the minerals for arms and ammunition to improve their heinous activities, “ he said. The ban, he further explained, would undermine the Federal Government’s progress in attracting investment to the solid minerals sector, especially its initiatives aimed at removing bottlenecks and enhancing the sector’s visibility in global markets.
Mr Ayankale said that his members work in synergy with security agencies to maintain safety in their areas of operation, and that their activities follow standard procedures for responsible, environmentally friendly mining.
According to him, MAN’s members, through the implementation of the statutory Community Development Agreement, contribute significantly to infrastructure development in rural areas and to boosting the economy.
“Therefore, the call by our northern governors and elders to ban mining activities, at a time when the nation has started welcoming pockets of investments, is not only unfortunate, but highly unpatriotic,“ Mr Ayankale added.
He said the governors should use part of their security votes or create special funds to strengthen the operations of the Mining Marshals and other legal initiatives to address illegal mining.
According to him, the call for revalidation of mining licenses is akin to an agitation for resource control. Mr Ayankale added that it was fundamentally against the letter and spirit of the Constitution, which places the control and management of mineral resources on the Exclusive Legislative List. He urged the president to consider that the ban could create more recruits for terrorist activities. NAN
Economy
Nigeria champions African-Arab trade to boost agribusiness, industrial growth
The Arab Africa Trade Bridges (AATB) Program and the Federal Republic of Nigeria formalized a partnership with the signing of the AATB Membership Agreement, officially welcoming Nigeria as the Program’s newest member country. The signing ceremony took place in Abuja on the sidelines of the 5th AATB Board of Governors Meeting, hosted by the Federal Government of Nigeria.
The Membership Agreement was signed by Eng. Adeeb Y. Al Aama, the CEO of the International Islamic Trade Finance Corporation (ITFC) and AATB Program Secretary General, and H.E. Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Federal Republic of Nigeria. The Agreement will provide a strategic and operational framework to support Nigeria’s efforts in trade competitiveness, promote export diversification, strengthen priority value chains, and advance capacity-building efforts in line with national development priorities. Areas of collaboration will include trade promotion, agribusiness modernization, SME development, businessmen missions, trade facilitation, logistics efficiency, and digital trade readiness.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, called for deeper trade collaboration between African and Arab nations, stressing the importance of value-added Agribusiness and industrial partnerships for regional growth. Speaking in Abuja at the Agribusiness Matchmaking Forum ahead of the AATB Board of Governors Meeting, the Minister said the shifting global economy makes it essential for African and Arab nations to rely more on regional cooperation, investment and shared markets.
He highlighted projections showing Arab-Africa trade could grow by more than US$37 billion in the next three years and urged partners to prioritize value addition rather than raw commodity exports. He noted that Nigeria’s growing industrial base and upcoming National Single Window reforms will support efficiency, investment and private-sector expansion.
“This is a moment to turn opportunity into action”, he said. “By working together, we can build stronger value chains, create jobs and support prosperity across our regions”, Edun emphasized. “As African and Arab nations embark on this journey of deeper trade collaboration, the potential for growth and development is vast. With a shared vision and commitment to value-added partnerships, we can unlock new opportunities, drive economic growth, and create a brighter future for our people.”
Speaking during the event, Eng. Adeeb Y. Al Aama, Chief Executive Officer of ITFC and Secretary General of the AATB Program, stated: “We are pleased to welcome Nigeria to be part of the AATB Program. Nigeria stands as one of Africa’s most dynamic and resilient economies in Africa, with a rapidly expanding private sector and strong potential across agribusiness, energy, manufacturing, and digital industries. Through this Membership Agreement, we look forward to collaborating closely with Nigerian institutions to strengthen value chains, expand regional market access, enhance trade finance and investment opportunities, and support the country’s development priorities.”
The signing of this Agreement underscores AATB’s continued engagement with African countries and its evolving portfolio of programs supporting trade and investment. In recent years, AATB has worked on initiatives across agribusiness, textiles, logistics, digital trade, export readiness under the AfCFTA framework, and other regional initiatives such as the Common African Agro-Parks (CAAPs) Programme.
With Nigeria’s accession, the AATB Program extends it’s presence in the region and adds a key partner working toward advancing trade-led development and fostering inclusive economic growth.
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