General News
US-Africa Trade Agreement Still Benefitng Businesses- DHL
The trade relationship between the United States and Africa, as well as the African Growth and Opportunity Act (AGOA) – which provides exporters duty-free access to the lucrative US market, was recently put under the microscope at the 2014 US – Sub Saharan Africa Trade and Economic Cooperation Forum (known as the AGOA Forum), which coincided with President Barack Obama’s US-Africa Leaders Summit, both held in Washington last week.
Charles Brewer, managing director of DHL Express Sub Saharan Africa, said that the Company has seen significant volume growth in the Sub Saharan Africa region, in terms of trade with the US since the introduction of AGOA in 2000.
He added that they, along with many world leaders, support the call for the renewal of AGOA when it expires next year.
“Trade lanes in Africa have increased significantly as a result of relieved trade barriers, which have had a positive impact on many local businesses. A key driver of this growth has been the African Growth and Opportunity Act (AGOA), which has stimulated trade and investment between Africa and the United States,” Brewer said.
DHL has seen a significant growth in trade between Sub Saharan Africa and the US, with strong positive growth in the last year.
He points to figures by AGOA1, which reveal that the US imported $8.468 million worth of goods from the Southern Africa Development Community (SADC) region in 2000 and $19.869 million in 2012.
Figures released by the U.S. Department of Commerce – International Trade Administration2, report that in 2013, US imports from Sub Saharan, under AGOA, totalled $39.3 billion.
The top three trade lanes to the US from the Sub Saharan Africa region originated from Nigeria, Angola and South Africa, who accounted for $11.72, $8.74 and $8.48 billion respectively.
Brewer explained that the Act offers tangible incentives to approximately 40 Sub Saharan African beneficiary countries, such as duty and quota free access to the US market for certain product lines.
“AGOA has facilitated trade between Sub Saharan Africa and the US by enabling the trade process, as well as successfully promoting the integration of Sub Saharan Africa into the global economy. These favourable trade conditions have also allowed the region to maximize the opportunities available and increase exports.” Brewer added.
Brewer also said that since the introduction of AGOA, DHL Africa has seen an increase in primary trading sectors like manufacturing, apparel and footwear – all directly supported by AGOA.
In addition, they have also witnessed an increase in secondary sectors that are dependent on agriculture, petroleum and natural gases.
Due to expire in 2015, it is the decision of the US Congress on whether to extend or amend the AGOA agreement.
Brewer believes that Sub Saharan Africa’s growth is still dependent on trade facilitation and enhancing both intra-regional trade and global trade.
“While trade between the US and Sub Saharan Africa has increased significantly in the last few years, there is still much room for growth. In 2013, US imports from Sub Saharan Africa represented only 1.7%2 of total US imports from the world. This highlights the remaining untapped growth potential for the region.”
Brewer views were echoed at the AGOA Forum where World Bank Group President, Jim Yong Kim3, remarked that trade preferences schemes, such as AGOA, can play an important role in helping Africa realize their opportunities to expand trade activity and that the Act assists African countries diversify their exports, and move away from dependence on minerals and commodities to reach more diversified and inclusive sources of export growth.
US President Barack Obama also announced his commitment to support the continuation and enhancement of the AGOA.
“Africa is the ‘last frontier’, the more we collectively focus on connecting it with the world, the more sustainable its economies will be and the more jobs we will create – creating a virtuous cycle of success,” concluded Brewer.
The Mayor of London, Sadiq Khan, has successfully concluded his visit to Lagos, Nigeria, aimed at strengthening the UK-Nigeria economic relationship and celebrating the deep cultural ties, shared vibrancy, and global influence of two dynamic cities – London and Lagos.
This visit marked the growing importance of Nigeria as a key partner in the UK’s global trade and investment strategy, particularly in sectors such as fintech, innovation, and the creative economy.
Alongside the visit, the Mayor of London led a trade delegation of 27 London-based companies in fintech, enterprise technology, and sustainability, supported by the Mayor’s growth agency, London & Partners. Under the leadership of Howard Dawber OBE, Deputy Mayor for Business and Growth, the agency facilitated a series of high-level engagements in Nigeria.
The delegation connected with Nigerian policymakers, investors, and creatives through curated events aimed at fostering collaboration and unlocking new business opportunities across Africa.
This visit marked the first official trip by a sitting Mayor of London to sub-Saharan Africa, underscoring London’s commitment to building long-term, cross-sector partnerships that support inclusive growth, digital transformation, and cultural exchange.
Mayor Khan’s engagements in Lagos commenced with participation in a panel discussion at the “Bridging Borders: How London and Lagos Can Shape the Future of Global Tech” tech event where he highlighted how London and Lagos can jointly shape the future of global innovation and encouraged Nigerian tech businesses to invest in London.
The Mayor of London also attended the Lagos Canvas Reception, a celebration of Nigeria’s flourishing creative sector which he co-hosted with Mo Abudu at the Ebony Life place.
The reception celebrated the status of Lagos and London as cultural and creative industry powerhouses and looked to encourage even greater ties between the creative industry ecosystems in both cities.
From the arts to fashion, music and film – central to the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) – which is expanding trade and unlocking new opportunities in the creative economy.
Wrapping up his visit to Lagos, Nigeria, the Mayor of London will continue his historic trade mission with stops in Accra, Johannesburg and Cape Town to bang the drum for the capital as a place for investment, innovation, and cultural exchange – strengthening ties with countries across the African continent for economic growth.
The Mayor of London, Sadiq Khan, said: “I am delighted to be visiting Nigeria and Africa this week – the first visit of its kind by a Mayor of London – to bang the drum for the capital and further develop the strong ties between our countries.
“Africa has the world’s fastest growing populations and is seeing major economic growth across many of its economies. Over the next decade there are huge opportunities to deepen partnerships with London. I will be working tirelessly throughout this visit to drive trade and investment across critical sectors including finance, education, health, tech creative and sustainability.
“Londoners of African heritage have played, and continue to play, a huge role in making London the greatest city in the world, and this trip is an opportunity to celebrate our shared heritage, history and culture with the African continent – as we build a better and fairer city for everyone.”
British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, said: “The Mayor of London’s visit underscores the UK Government’s commitment to strengthening economic and cultural ties with Nigeria. From trade to fintech and fashion, our collaboration is driving innovation and growth.
“Through the UK-Nigeria Enhanced Trade and Investment Partnership, we’re committed to unlocking new opportunities that benefit both our economies, and this visit is a powerful step forward in that journey of inclusive growth.”
UK Minister for Africa, Lord Collins of Highbury, said: “Sir Sadiq’s visit marks an exciting moment for the UK’s relationship with countries across Africa and is a strong demonstration of our commitment to deepening our ties with the continent.
“Strengthening our trade, investment, and cultural ties is not only vital for shared economic growth, but also for fostering long-term partnerships that are rooted in respect and open up opportunities for all.”
The Nigeria Immigration Service (NIS) has announced the rollout of a fully digital application system for the Combined Expatriate Residence Permit and Aliens Card (CERPAC).
The new online portal, https://cerpac.immigration.gov.ng, will become the exclusive platform for submitting CERPAC applications from August 1, 2025.
According to NIS, the digital migration is part of the Federal Government’s broader initiative to reform the immigration system by promoting transparency, improving operational efficiency, and enhancing the overall user experience for expatriates and organizations interacting with the Service.
In a press statement signed by A.S Akinlabi, Service Public Relations Officer, the NIS disclosed that manual or physical CERPAC forms will be completely phased out by July 31, 2025.
It noted that after this date, all applications must be submitted exclusively through the online portal.
The Service has advised applicants who have paid for physical forms but are yet to complete the submission process to do so on or before July 31, 2025, warning that any unsubmitted applications after the deadline will be deemed invalid, and associated payments may be forfeited.
Companies and individuals assuming Immigration Responsibility (IR) for expatriates have also been urged to ensure that all outstanding applications are finalized within the stipulated timeframe, to avoid potential delays or administrative setbacks.
“This digital transition marks a critical milestone in our effort to simplify processes and serve the public better,” the statement reads.
The NIS urged members of the public to direct all inquiries and correspondence regarding the new digital process to the office of the Public Relations Officer at the Service Headquarters in Abuja.
Tosin Eniolorunda and Felix Ike
Moniepoint joins a select group of leading fintech players recognised for their financial performance and success across 2023-4. The list – compiled by CNBC in conjunction with market research firm Statista – follows analysis of key performance indicators, such as revenue growth, transaction volume, employee headcount, and capital raised. The result is a diverse group of 250 trailblazing fintech companies.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt Inc.) has been instrumental in advancing financial inclusion across Africa – especially for individuals and businesses operating in the informal economy, underserved by formal and traditional institutions.
The Company services 10 million+ customers through its comprehensive, integrated ecosystem of digital banking, credit, payments, and business management tools, and processes over one billion transactions monthly with volumes exceeding US$22 billion.
The accolade follows recent milestones for the Company which reiterate Moniepoint’s commitment to innovation and widening access to the formal financial system.
Notably, Moniepoint expanded its offering to Africans in the international diaspora via the launch of the MonieWorld platform. MonieWorld offers seamless remittance and digital financial services capabilities to individuals in markets such as the UK; the first time the Company has provided services to consumers outside Africa.
In June, Moniepoint was named in the TIME100 Most Influential Companies list for 2025, highlighting the Company’s extraordinary impact. Moniepoint has also been recognised by the Financial Times for three consecutive years as one of Africa’s fastest-growing companies, reflecting its remarkable revenue growth and business expansion; and by CB Insights in the Fintech 100 list, highlighting the Company’s status as one of the world’s most promising private fintech companies.
Tosin Eniolorunda, Group CEO of Moniepoint Inc., said: “It is an honour to be named as one of the world’s top fintech companies by CNBC. Moniepoint’s inclusion in this prestigious, authoritative list is testament to the hard-work and success of the entire team while highlighting our emergence as a key player shaping the future of fintech worldwide.
“Our mission to power the dreams of millions of African entrepreneurs and businesses continues to propel us forward with renewed vigor. As we continue to scale, we remain committed to driving global financial inclusion and widening access to economic opportunities for Africans everywhere – transforming lives and livelihoods.”
CNBC’s list of the world’s top fintech companies was launched in 2023 to identify global market leaders in technology-driven financial services. The list, which includes companies operating across various regions and market categories including banking solutions, digital assets, and payments, highlights the dynamic and rapidly evolving FinTech industry, offering readers, investors, and stakeholders a comprehensive overview of the leading players across various segments.
Mayor of London Commits to Deepening UK-Nigeria Ties in Tech, Creatives and Trade
HCSF Describes Galaxy Backbone as a Strategic Partner in Civil Service Digitalization Reforms
PalmPay Named Among CNBC and Statista’s World Top 300 Fintech Companies 2025
Fidelity Bank Champions Education in Nasarawa with CSR Project
Festive Seasons Trigger 400% Spike in Livestock Prices Across Nigeria’s North East — Moniepoint Study
E-Financial2 days agoZenith Banks Leads as 8 Banks Suffer N156Bn Impairment Charges
Telecom2 days agoMTN @ Swish Fusion Summit, Showcases 5G Rollout Strategy
Telecom1 day agoMTN’s ₦31.75Bn Investment in Health Lauded at Arthur Mbanefo Lecture
E-Business2 days agoOlatunji, NDPC Boss Calls for Integrated Strategy on Data Privacy, Cyber-Security
E-Business2 days agoKaspersky Experts Warn of the Risks Hidden Behind QR Codes
News2 days agoUS Launches ‘Window on America’ @ Ogun Tech Hub
E-Financial2 days agoSEC Flags FF Tiffany as Ponzi Scheme
News2 days agoSEC Probes Ponzi Scheme Linked to FF Tiffany