BUSINESS - The African Mirror

Jun

13

2026

Nigeria raised electricity prices to improve supply. Why it hasn’t worked

BUSINESS

NIGERIA’S electricity regulator triggered a big tariff shock in April 2024. It increased rates for some consumers by over 240%, citing the cost of producing and delivering power. The regulator classifies consumers into five bands, A through E, based on how many hours of power their local distribution feeder receives each day. Band A gets 20 hours or more and Band E just 4-7 hours. The tariff changes primarily affect Band A customers. Their tariff rose from ₦67 to ₦225 (US$0.049 to US$0.16) per kilowatt-hour. The public backlash was immediate and fierce. Labour unions protested nationwide and picketed the offices…

Jun

13

2026

By JUSTIN VISAGIE

South Africa’s jobs crisis: what 10 years of tax data tells us

BUSINESS

IT'S time South Africa faced up to an honest question: what if the formal economy can’t deliver the jobs that are needed? I am an economist who has been working closely with South Africa’s administrative tax data over the past five years – arguably the best way to track progress in the formal sector. The sobering reality is that the country has gone backwards. And young people are bearing the brunt of the deterioration. The scale of the jobs crisis is now so large that even decades of strong economic growth won’t be enough to eliminate it. Looking at the…

Jun

11

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

African electricity systems are opening to private capital as utility dominance eases

BUSINESS

AFRICAN electricity systems are shifting away from vertically integrated utility monopolies toward hybrid structures where private capital increasingly finances generation, storage, transmission, and distributed energy systems. This is changing how electricity is produced, financed, and delivered across multiple African markets. According to Mark Odur, Group CEO of Solarity Africa, “Blended finance is no longer a nice option at the edges of a deal… it is the baseline assumption.” “The demand signal has changed. The primary driver is reliability. The grid is not delivering.” His assessment reflects a broader recalibration in how electricity investment decisions are being made across the continent.…

Jun

10

2026

By PENDA THIAM, BIRD STORY AGENCY

How a poultry loss led to a digital management tool

BUSINESS

BEFORE setting foot on her poultry farm, Mengué Diouf already knows how her birds are doing. From her phone, she can check each morning whether the farm's workers have arrived on time, whether feeding schedules were followed, and whether anything unusual occurred overnight. What began as an attempt to stop the heavy losses threatening her own poultry business has evolved into SEDAP'Tech, a digital management platform that is helping farmers across Senegal oversee their operations, track production data and respond more quickly to problems that can wipe out an entire flock. The idea grew out of Diouf's lived experience rather…

Jun

09

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

African banks are outperforming global peers as the continent’s financial systems deepen

BUSINESS

AFRICAN banks are generating higher returns than their peers in North America, Europe, Asia, and the Middle East as financial systems across the continent become more deeply embedded in economic activity. The trend is strengthening Africa's position within global finance and creating a larger pool of capital for lending, payments, business expansion, and financial inclusion. "African banking has moved decisively from a story of potential to one of performance," said Mayowa Kuyoro, partner and head of McKinsey's financial services practice in Africa. According to McKinsey's latest African banking review, African banks generated a return on equity of 19% in 2024,…

Jun

05

2026

By AMINA EBRAHIM and PATRICIA JUSTINO

Tax data can be mined to shape better policies. South Africa, Uganda and Zambia show how

BUSINESS

BILATERAL aid to Africa fell by nearly a quarter in 2025, the largest annual decline in the history of official development assistance. Meanwhile, sovereign debt interest payments now consume on average 27% of government revenues across the continent, up from 19% in 2019. The pressure to fund development from within has never been greater. But meeting it requires African governments to understand their own economies with precision: which tax policies work, which incentives serve their purpose, how fiscal decisions distribute their consequences. Administrative tax data, the anonymised filings, returns and transaction records generated through the tax system that African revenue…

Jun

05

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

African capital markets are evolving

BUSINESS

AFRICAN capital markets are entering a new phase of institutional maturity as exchanges, regulators, and development institutions shift their attention from building markets to improving how those markets mobilize capital and support economic growth. Recent developments from Ethiopia, Nigeria, Morocco, South Africa, and the African Development Bank suggest that the continent's bourses are becoming deeper and more sophisticated. According to sector analysts, the current phase is being fueled by reforms aimed at improving market efficiency, expanding investor participation, and unlocking domestic pools of capital. Speaking at the LMA & ICMA Africa Summit 2026, AFC's Modupe Famakinwa argued that the continent…

Jun

02

2026

By THE AFRICAN MIRROR EDITORIAL STAFF

Seoul summit elevates Africa-Korea trade alliance as AfCFTA seeks to unlock continent’s $230 billion intra-trade potential

BUSINESS

THE SEOUL PIVOT: FROM AID TO ARCHITECTURE KEY FIGURES AT A GLANCE IndicatorFigureContextIntra-African trade (2025)$210bnAfreximbank 2026 OutlookIntra-African trade forecast (2026)$230bn+10% year-on-yearShare of continental total (2026)~16%Up from <10% two decades agoAfCFTA market population1.4 billionLargest free trade area by membershipAfrican GDP (combined)$3+ trillionCombined AU member state GDPKorea-Africa trade share (pre-summit)1.9%Of South Korea's total tradeAfrican countries at Seoul meeting50 of 54June 2, 2026 ministerial On the eve of the most significant Korea-Africa ministerial gathering ever convened, the AfCFTA Secretariat on Sunday wrapped preparatory discussions at the Senior Officials Meeting in Seoul that signal a qualitative shift in how Africa is engaging its non-traditional…

May

28

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

M-KOPA’s Ghana push is evidence of Africa’s smartphones as financial gateways

BUSINESS

ACROSS Africa’s low-income markets, the smartphone is increasingly acting as the first point of contact with formal financial systems, replacing traditional banking entry points. M-KOPA’s expansion in Ghana illustrates how device financing is evolving into a bundled ecosystem that integrates credit, insurance, and digital services into a single daily payment structure. M-KOPA’s latest Ghana Impact Report, published on May 20, 2026, shows the company has unlocked more than GHS 1.2 billion (more than US$103 million) in credit for over 550,000 customers since 2021. The report frames this not as device sales but as financial inclusion delivered through a smartphone-led platform…

May

26

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

Botswana races to diversify beyond diamonds

BUSINESS

BOTSWANA’S diamonds have long been featured on global stages. From multi-million-dollar jewelry showcased at global events such as the Met Gala to medals embedded with locally sourced stones at sporting showcases such as the Debswana World Athletics Relays in Gaborone, they sit at the intersection of luxury spectacle and state revenue. That intersection is now under strain as global diamond demand weakens amid rising synthetic supply, shifting consumer preferences, and softer luxury cycles in key markets. “Diversification and investment in different sectors is the way forward. Africa has to learn from Saudi Arabia and not depend on only mineral resources,”…