News
AfDB, EU Ink Agreements to Co-Finance Road Projects in West Africa

The African Development Bank (AfDB) and the European Commission have signed five co-financing agreements to support road infrastructure projects in West Africa.
The total cost of the 5 projects co-financed by the Bank and EU is 652 million Euros (428 billion CFA francs). Of this, the Bank contributes 350 million Euros in loans [and grants], the European Commission 105 million Euros in grants (close to 70 billion FCFA), with the remaining amounts financed by other partners, the West African Economic and Monetary Union (WAEMU), the concerned West African countries and other donors.
The agreements were signed by Stefano Manservisi, European Commission Director General for International Cooperation and Development, and Charles Boamah, AfDB Senior Vice-President, during the 6th EU-Africa Business Forum, held in Abidjan. The presidents of the Economic Community of West African States and of WAEMU, West African transport ministers and several donors were present at the signing ceremony.
The cooperation agreements form part of a historic framework agreement known as the Pillar Assessed Grant or Delegation Agreement (PAGODA) between the Bank group and the European Commission (EC) on September 25, 2017. They include blended finance instruments to mobilize grant resources to contribute to the implementation of the Bank’s priorities: light up and power Africa, feed Africa, integrate Africa, industrialize Africa and improve the quality of life for people of Africa.
As the continent’s premier financial institution, the Bank is playing a leading role in meeting the financing needs of African countries. The signing of the PAGODA partnership agreement and of these 5 specific infrastructure projects showcases AfDB’s role in leveraging partner institutions to achieve greater development impact.
According to Boamah, the signing of the delegation agreements “demonstrate the strong partnership between the Bank and the European Commission. We are on the right path and I am convinced that our cooperation will continue to grow. For the Bank, PAGODA goes beyond a simple financing framework. The stakes are much higher: we must fulfill our commitment to fight poverty by mobilizing additional partners and resources for greater results and impact.”
The PAGODA accords will help fund the rehabilitation of the Lome-Cotonou road, studies and measures for trade and transport facilitation on the Abidjan-Lagos corridor, road development and transport facilitation on the Bamako-San Pedro corridor between Mali and Côte d’Ivoire, as well as the construction of the Rosso bridge between Mauritania and Senegal, and the rehabilitation of the CU2a community road section in Burkina Faso near the border with Niger.
The AfDB and the European Commission are committed to financing development projects focusing on poverty reduction by investing in critical infrastructure to promote seamless connectivity of transport, energy and ICT.
News
UK Minister for Africa Visits Nigeria to Deepen Strategic Partnership

The United Kingdom’s Minister for Africa, Lord Collins of Highbury, has concluded a three-day visit to Nigeria, aimed at reinforcing the UK-Nigeria Strategic Partnership.
He reaffirmed the UK Government’s strong commitment to deepening trade and investment ties between the United Kingdom and Nigeria.
During his visit, Lord Collins met with senior Nigerian government officials, business leaders, civil society representatives and United Nations agencies.
These engagements underlined the UK’s long-term drive to support Nigeria’s prosperity and stability while deepening bilateral cooperation for transformative growth across our shared priorities.
A key highlight of the visit was Lord Collin’s bilateral meeting with Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, in which both parties reaffirmed their unwavering commitment to strengthening economic ties and promoting regional security. The Minister was joined by the UK’s Trade Envoy to Nigeria, Florence Eshalomi MP.
Lord Collins also met with Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, and discussions focused on opportunities to strengthen engagement between UK’s parliament and Nigeria’s National Assembly and the importance of furthering women’s participation in politics.
Speaking on his visit, the UK Government’s Minister for Africa, Lord Collins said: “Nigeria and the UK share a rich, ambitious relationship: one that is deeply rooted in respect.
“Our Strategic Partnership is at the forefront of this, and my visit has focused on how our countries can continue deepening our cooperation on key issues such as trade and investment to drive economic growth and deliver prosperity for us all.”
The Minister held discussions with United Nations representatives on the ongoing reform of the UN system, its implications for Nigeria and how the reform can effectively support those most in need, particularly in Northeast Nigeria, whilst also contributing to global humanitarian efforts.
Lord Collins also met with civil society leaders to discuss electoral integrity and governance reforms, reinforcing the UK’s commitment to democratic values and community empowerment.
He later visited Nigeria’s Anti-Kidnap Fusion Cell: a key security initiative supported by UK expertise through the National Crime Agency and the Integrated Security Fund, which plays a vital role in enhancing local safety and combating serious crime.
Also commenting on the visit, the British High Commissioner to Nigeria, Dr Richard Montgomery, said: “Driving growth is central to the UK’s foreign and development policy. Lord Collins’ visit to Nigeria underscores the UK’s unwavering commitment to deepening our shared prosperity through expanded trade and investment. We are proud to stand alongside Nigeria as it forges a resilient and dynamic economy.”
This visit underscores the UK’s enduring partnership with Nigeria – built on mutual respect, shared goals, and a vision for a prosperous future for both nations.
News
PalmPay Launches CSR Initiatives to Empower Women, Foster Financial Literacy in Northern Nigeria

In a strategic move to expand financial inclusion in Nigeria, leading mobile banking platform, PalmPay has launched a series of CSR programs across Kano and Kaduna. The CSR initiative named “Passing the Baton” represents the brand’s commitment to passing on knowledge and providing the resources individuals and businesses need to achieve financial independence and drive economic empowerment.
This initiative is a bold move by PalmPay to bridge the opportunity gap in the North by providing financial literacy training and micro-business branding support to 5,000 women-owned businesses in Kano and Kaduna. This strategic initiative reaffirms PalmPay’s commitment to inclusive development and economic empowerment, particularly in underserved regions.
“At PalmPay, we believe that real financial inclusion must be far reaching and cover the grassroots,” said Chika Nwosu, Managing Director of PalmPay. “Our new CSR program is focused on supporting gender equity by equipping women with the knowledge, tools, and visibility they need to thrive as entrepreneurs in their communities.”
Through this initiative, beneficiaries will receive free health insurance, hands-on training workshops, enhanced store branding to boost visibility, and branded merchandise to strengthen their business presence.
The initiative is part of PalmPay’s broader strategy to extend its innovative solutions, expand its footprint in Northern Nigeria, while building sustainable partnerships with local stakeholders for long-term impact.
In a show of support, His Royal Highness, the Emir of Kano, Dr. Muhammadu Sanusi II, has endorsed the initiative, calling on other stakeholders to join forces with PalmPay in ensuring the North benefits fully from the growing digital economy. PalmPay has received commendation from community stakeholders, as the initiative aims to serve as a model for similar projects across other northern states.
As PalmPay continues to scale across Nigeria, the company remains committed to bridging the financial inclusion gap and empowering underserved groups, particularly women and youth, through its innovative solutions and impact initiatives.
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