General News
AfDB, Stakeholders Chart New Course for Aviation in Africa
The African Development Bank assembled top representatives from African airlines, aviation industry organizations, civil aviation and regulatory authorities, airplane manufacturers, financiers and development partners to discuss the future of aviation in Africa.
The Bank initiated the consultation to obtain the views of stakeholders as it prepares its action plan on aviation on the heels of the launch by the African Union of the Single African Air Transport Market (SAATM) initiative in January.
Alongside the main conference, two events took place, which were led by African Union Commissioner for Infrastructure and Energy Amani Abou-Zeid and Symerre Grey Johnson, Head of Regional Integration Infrastructure and Trade for the New Partnership for Africa’s Development (NEPAD).
The meetings captured the conference outcomes in a coordinated roadmap for SAATM implementation in Africa.
“We are keen to support practical efforts by countries, regional organizations and companies from the aviation sector to increase connectivity and reduce and open up the African skies,” Pierre Guislain, the Bank’s Vice-President, Private Sector, Infrastructure and Industrialization, said in his opening remarks.
The central aspect of SAATM is to allow member airlines to fly to airports in other member countries to achieve ‘open skies’ in Africa, thereby boosting traffic and trade and achieving double-digit growth in the industry by 2023 in line with the SAATM initiative.
Much of the discussion at the conference revolved around the practical measures needed to achieve these goals and remove persistent challenges facing the industry, including high fares, fees and charges, poor infrastructure and expensive access to finance. Air fares in Africa are two or three times those in other parts of the world for comparable distances.
Numerous suggestions on policy and solutions emerged at the two-day event including a strong recommendation for a regional approach to accelerate aviation safety and security plans, and the extension of capacity building training to all aviation technical and executive staff.
Delegates called for a greater focus on fleet size, prioritizing narrow body and regional aircrafts in aviation financing. They also called for increased government commitment, and an alignment of national frameworks to international conventions.
The meeting urged governments to adopt a more collaborative decision-making approach, with consultations at regional levels, for construction of both airport and air navigation services infrastructure.
Delegates frequently referred to a 2014 InterVISTAS study, commissioned by the International Air Transport Association (IATA), which modeled the impact of an open skies agreement among 12 African countries.
Passenger traffic in those countries was projected to increase by more than 80% to 11 million passenger movements from 6.1 million. The economic effect of open skies was even more impressive. The study estimated that GDP would grow by US $1.3 billion with the creation of 155,000 jobs.
Amadou Oumarou, Director of the African Development Bank’s Infrastructure and Urban Development Department, said, “We are going to prepare an action plan, not just for the Bank but for all stakeholders. When that has been done, we shall devise the Bank’s aviation strategy framework.”
The African Development Bank has invested close to US $1 billion over the past decade in the construction and expansion of airport terminals, as well as aviation safety and aircraft financing.
Young Nigerian tech genius, Oluwatobi Oyinlola, has developed the world’s smallest GPS tracking device, a prototype measuring just 22.93 x 11.92 mm.
Recognised by the Guinness World Records, the device was created at the prestigious Massachusetts Institute of Technology (MIT), USA, on April 27, where he is employed as a researcher.
It has been hailed for its potential across industries, from logistics and personal safety to medical devices and wildlife monitoring.
Nigeria’s President Bola Ahmed Tinubu celebrated the feat in a post on X, praising Oyinlola for showcasing the ingenuity of the West African country’s youth. “You have just shown the world that Nigerian youth can!” he wrote.
Adding to the accolades, Minister of Communications, Innovation and Digital Economy, Bosun Tijani, lauded the innovation as a symbol of national pride and technological potential.
He commended Oyinlola’s journey, noting his early support for the young inventor’s IoT startup. “Long before this global recognition, I had the privilege of backing Oluwatobi. His journey, now continuing at MIT, is a powerful reminder of the extraordinary potential of our people,” Tijani said.
The prototype not only marks a leap in miniaturised technology but also highlights Nigeria’s growing footprint in global innovation. Bosun added that as Nigeria intensifies efforts to nurture homegrown tech talent, Oyinlola’s success is a beacon for the next generation of innovators.
“The world is only beginning to see what you’re capable of,” said the Minister.
Africa is becoming a global hub for solar energy development. The commercial and industrial sectors are driving this trend, with photovoltaic systems being installed on-site at businesses, educational institutions, and government facilities to meet energy demands.
This is according to CBi-electric: low voltage, which manufactures and supplies low voltage electrical distribution, protection, and control equipment.
2.5 gigawatts-peak (GWp) of solar capacity was built across Africa in 2024, with 194.34 GWp expected in 2025, according to the company.
Dr. Andrew Dickson, engineering executive of CBi-electric: low voltage, outlines how several reasons are hastening the continent’s transition to solar. “Energy poverty remains a major issue across Africa, with reliable grid electricity reaching only 14% of Zimbabweans, for example.”
He goes on to say that inconsistent power supply is another significant contributor, stating that “Persistent nationwide blackouts are affecting countries like Botswana, disrupting day-to-day operations. And in hydro-electric dependent countries such as Zambia, climate change is reducing water levels, leading to lower electricity generation and higher prices.”
Dickson believes that strategic system design and management are critical to realising the full potential of solar energy on the continent.
He said: “As Africa’s solar energy market continues to expand in 2025, organisations have an opportunity to capitalise on its long-term benefits. With the right technologies and safeguards in place, solar is not only a clean energy solution it’s a strategic asset that pays off.
“By combining surge protection, DC breakers, and monitoring tools, businesses can reduce unexpected costs, minimise downtime, and extend the life of their investment.”
FCMB Group Plc reported a profit before tax of ₦35 billion for the first quarter ended March 31, 2025. Gross revenue grew 41.1% year-on-year to ₦252.7 billion, surpassing its Q1 forecast of ₦226.9 billion, driven by a 58% increase in net interest income.
The Group recorded a 5% growth in total assets from ₦7.05 trillion in December 2024 to ₦7.40 trillion as at March 2025. Loans and advances also grew by 3.4% over the same period to ₦2.44 trillion, supporting business and economic activity.
The Banking Group accounted for 81.4% of profits, followed by Consumer Finance, 11.7%, Investment Management, 5.0%, and Investment Banking, 0.7%.
Net interest margins grew to 8.3% from 5.4% in Q4 2024, driven by a 200 basis points drop in the cost of funds and a higher yield on earning assets of 20.2%.
The Group linked the improvement to early benefits of the capital raised in 2024 and an improvement in the low-cost deposit liabilities.
Group Chief Executive Ladi Balogun said that the diversified financial services group will continue to leverage its group structure to drive an ecosystem that will foster inclusive and sustainable growth.
Analysts say FCMB Group’s diversified revenue structure and strengthened capital position provide a positive outlook for the rest of the financial year.
FCMB Group Plc is a financial services holding company listed on the Nigerian Exchange and headquartered in Lagos.
The Group has strategic interests in businesses serving over 14 million customers across five platforms – banking, consumer finance, investment management, investment banking, and financial technology.
Together, these businesses are building an integrated ecosystem that supports inclusive and sustainable growth across Africa, its diaspora, and the United Kingdom.
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