BUSINESS - The African Mirror

Jun

02

2026

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,”…

May

26

2026

By ANDRINO AKUDA, BIRD STORY AGENCY

Scale or Fail: In Kigali, Africa Chooses Collective Economic Power

BUSINESS

IN May 2026, over three days, more than 2,800 decision-makers from over 90 countries debated an issue that has become central to the continent’s future: how to transform Africa into an economic powerhouse capable of competing on a global scale. Here, there was no more talk of international aid or dependence on foreign markets. The watchword was clear: “Scale or Fail” grow or disappear. Against a global backdrop marked by geopolitical tensions, trade wars, and the reconfiguration of supply chains, the African leaders present in Kigali championed a shared conviction: African economic integration is no longer a political option, but…

May

26

2026

By LISETTE IJSSEL DE SCHEPPER

Iran war is exposing South Africa’s dependency on diesel: what went wrong

BUSINESS

IT is forgivable to think that an oil shock mainly hurts at the petrol pump. After all, that is where households feel it first. But when my colleagues and I at the Bureau for Economic Research started digging through South Africa’s fuel data, a different story emerged – one that says as much about the country’s infrastructure failures as it does about global geopolitics. As we began modelling the likely impact on the South African economy, it quickly became clear that diesel would inflict even more pain on the economy than petrol. (Our insights are based on ongoing analysis that…

May

20

2026

By DANNY BRADLOW and DAVID HUNTER

The World Bank wants to change the way it manages complaints: the fixes that could make it better

BUSINESS

THE World Bank made history in 1994 by creating the Inspection Panel, the first independent accountability mechanism at any international organisation. Its function is to investigate complaints from communities that allege they were harmed because the bank failed to comply with its own policies and procedures. By establishing the three-member Inspection Panel, the World Bank showed support for a democratic vision of international governance based on the rule of law and the rights of individuals to take part in development decisions that affect their lives. To date, the panel has received 186 complaints. Fifty-two have been from Africa. They involved…

May

19

2026

By ANDRINO AKUDA, BIRD STORY AGENCY

Ghana, Rwanda and Zambia test interoperable cross-border payment system

BUSINESS

GHANA, Rwanda, and Zambia are testing a unified digital trade corridor that allows cross-border payments to move instantly across African financial systems. The shift reflects a broader continental push to reduce reliance on external banking intermediaries and build interoperable, Africa-owned financial infrastructure under the African Continental Free Trade Area. “Economic sovereignty in the twenty-first century is inseparable from digital sovereignty,” said Ghana’s Vice President Professor Jane Naana Opoku-Agyemang during the 3i Africa Summit in Accra on May 6, where the pilot project was officially unveiled. The remarks capture a growing policy shift across African financial systems, where governments are increasingly…

May

19

2026

By DAVID MASONDO

Africa’s infrastructure deficit is not a capital problem. It’s an execution problem

BUSINESS

TOO often across the developing world, we have seen roads built without industrial corridors, ports expanded without manufacturing zones, and energy infrastructure developed without alignment to industrial demand. The result is infrastructure that is underutilised, economically inefficient, and unable to generate the growth required to sustain long-term returns. Infrastructure delivers its greatest economic impact when it supports production, trade, manufacturing, mining, agriculture, and exports. That is why President Cyril Ramaphosa is calling on all of us to shift from infrastructure-led development to development guided by industrial priorities. The key question is not simply: what infrastructure can we build? The real…

May

13

2026

By PHENYO MOKGOTHU

Tourism growth places focus on jobs, trade and policy, expert says

BUSINESS

AFRICA'S Travel Indaba 2026 is being held in KwaZulu-Natal from 11 to 14 May, drawing participation from more than 22 African countries. Attention is squarely on tourism’s role in driving jobs, trade, and economic growth across South Africa and the continent. Prof. Elmarie Slabbert, research director of Tourism Research in Economics, Environs and Society (TREES) at the North-West University (NWU), says Statistics South Africa data show tourism remains a key source of jobs and output, requiring policymakers to strengthen the sector as a driver of economic activity. Accounting for one in every 18 jobs South Africa’s tourism sector employed close…

May

13

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

Kenya securitises smallholder farm loans in bid to unlock institutional finance

BUSINESS

KENYA is testing whether smallholder farm lending can be transformed into a capital-markets asset class, using local-currency securitization and data-driven risk models to attract institutional investors into agriculture. The move signals a broader shift across Africa, where governments, fintech firms, and development financiers are building new financial infrastructure for farming, from warehouse receipt systems to digital commodity registries, to make agricultural cash flows easier to finance at scale. Analysts say the significance of these emerging structures lies in their attempt to standardize and price agricultural risk in ways institutional investors can understand. For decades, African agriculture has struggled to attract…