BUSINESS - The African Mirror

Dec

12

2025

Nigeria’s economy has improved but ordinary people still feel the pinch: economist offers some solutions

BUSINESS

NIGERIANS have been waiting anxiously for the economy to “turn a corner”, following economic reform initiatives undertaken by President Bola Tinubu in 2023. These included removing the country’s fuel subsidy and freeing up its foreign exchange market. There have been signs of improvement. Key among these are stronger economic growth and a rise in capital inflows and diaspora remittances. Foreign reserves have risen to the highest level in seven years. Core inflation has declined, and the foreign exchange market is less volatile. But ordinary Nigerians aren’t feeling the benefits. There’s anger and resentment, as evident in the nationwide protest in…

Dec

11

2025

By BONFACE ORUCHO, BIRD STORY AGENCY

Crypto and fintechs eye Africa’s youth

BUSINESS

AFRICA’S next generation is emerging as the new battleground for digital finance, as global crypto exchanges and African fintechs race to shape how children save, learn and interact with money. Chinese crypto platform, Binance, has now entered that race. This month, the exchange launched Binance Junior, a parent-controlled savings app for users aged six to seventeen that introduces digital assets in a supervised, education-first setting. The launch comes with a second product, an illustrated A-to-Z “ABC’s of Crypto” book aimed at making crypto concepts accessible inside mainstream households. According to sector analysts, financial platforms have been “more deliberate to offer…

Dec

09

2025

By OWN CORRESPONDENT

African nations secure credit rating upgrades as regional initiative bears fruit

BUSINESS

THREE African nations have secured sovereign credit rating upgrades from major international agencies, while two others received positive outlook revisions, marking what development organisations describe as a shift in the continent's financial trajectory. Ghana, Zambia and South Africa received upgrades in recent months, whilst Nigeria and Uganda saw their outlooks improve, the African Peer Review Mechanism (APRM), United Nations Economic Commission for Africa (ECA) and UN Development Programme (UNDP) announced Friday. The upgrades coincide with the Africa Credit Ratings Initiative, a UNDP-led programme launched by the three organisations to help African governments navigate credit rating systems and engage more effectively…

Dec

09

2025

By KATHY SHORT

Why fish farming is booming in Zambia

BUSINESS

“I never imagined I’d become a fish farmer,” said 27-year-old Sibongile Sonile Nthani with a laugh. “But when I saw how much fish we were importing, I knew there was an opportunity.” She scattered feed across her fish ponds as the sun rose over the small town of Kafue, just outside Lusaka. Across Zambia, people like Nthani are transforming fish farming from a small, rural practice into a profitable agribusiness that is reshaping how the country feeds itself. A Growing Blue Economy Zambia consumes more than 170,000 metric tonnes of fish every year, yet nearly a third is imported. To…

Dec

06

2025

By BONFACE ORUCHO, BIRD STORY AGENCY

Two new tech listings test African bourses

BUSINESS

AFRICA’S public markets appear to be entering a new phase as more tech firms begin treating local exchanges as viable paths to raising capital, while strong demand in Johannesburg and Casablanca promises a shift in liquidity, improved investor confidence, and a maturing pipeline of tech issuers on the continent. Signals include a combination of bourse reforms, fintech maturity, and expanding listing pipelines, while recent dual tech listings in North and South Africa are the clearest sign of market readiness. And the continent stands to benefit from reshaping perceptions of liquidity and investor appetite. In Johannesburg, Optasia listed on the JSE…

Dec

03

2025

By BONFACE ORUCHO, BIRD STORY AGENCY

African manufacturers stand to gain in global fashion industry shakeup

BUSINESS

RISING tariffs in the U.S. and supply-chain shocks are pushing global apparel buyers to diversify from manufacturing in Asia and look towards Africa. They are reassessing sourcing strategies, and industrial zones in Africa have become viable options for them. Kenya’s Vipingo SEZ pairs infrastructure and financing with compliance-ready operations, turning pilot orders into repeat contracts and reshaping sourcing strategies. The State of Fashion 2026 report notes that brands are adjusting sourcing footprints as trade disruptions increase costs and push companies to diversify beyond Asia. African countries are increasingly appearing on shortlists for new manufacturing contracts as governments, investment agencies, and…

Dec

03

2025

By MARC WEGERIF

Johannesburg’s produce market has supplied the informal sector for decades: a refresh is due

BUSINESS

SOUTH Africa’s food system is a complex landscape where high levels of production coexist with severe food insecurity. In a 2024 survey, 63.5% of households were found to be food insecure, and 28.8% of children were stunted. In this food system, fresh produce markets owned by municipalities are critical for food access and nutrition. The Agriculture Department reported that in 2023, the country’s 17 main municipal fresh produce markets sold over 3 million tons of fresh fruit and vegetables, worth R24.6 billion (US$1.37 billion). This is approximately 40%-50% of the fresh produce from farmers in South Africa. The relationship between…

Dec

03

2025

By OWN CORRESPONDENT

African Development Bank bars Togolese firm, executive for fraud in Mali water project

BUSINESS

THE African Development Bank Group has debarred a Togolese company and its general manager for 18 months following fraudulent practices in a Mali water supply project tender. The Bank said Yessan Sarlu, a company registered in Togo, and its general manager, Ayitévi Yao Mawulolo Amadote, committed fraudulent practices during bidding for water distribution kits under the Projet d'alimentation en eau potable de la ville de Bamako, according to an investigation by the bank's Office of Integrity and Anti-Corruption. The project involves the construction of water pumping and distribution facilities near Bamako, Mali's capital. During the debarment period, Yessan Sarlu, Amadote…

Dec

02

2025

By BONFACE ORUCHO, BIRD STORY AGENCY

Rwanda is turning domestic digital platforms into export products

BUSINESS

RWANDA is turning its domestic digital reforms into an exportable model for governments abroad. Its tech agencies and private firms increasingly deliver software and digital services beyond the continent, proving that African-built public systems can compete on performance and reliability. In a sign of growing South-South engagement, the country’s latest contract gives Rwanda a foothold in the Caribbean. It will design, develop, and implement Jamaica’s Integrated Electronic Case Management System (IECMS), a digital platform connecting all components of the justice chain. According to the Jamaican news service, the Jamaica Gleaner, the US$4.6 million agreement covers the full delivery cycle, including…

Nov

28

2025

By IDONGESIT ESSIEN, BIRD STORY AGENCY

This woman entrepreneur makes doing business easier in Nigeria

BUSINESS

"EVERYTHING happens in Lagos," said Amanda Etuk as she drove in her chauffeured car through a busy dockyard in Lagos, Nigeria's dynamic commercial heart, after checking on an export company's operations. Lagos serves not only as Etuk's base of operations, but also her inspiration. "I see so many people complain about Lagos, but I've got the most opportunities in my life here… So there's always something to, as our people would say, 'ginger' you in Lagos. Nobody's ever resting on their oars." In the highly competitive and fast-evolving landscape of Nigerian venture capital, Etuk has become something of a rare…