General News
IFC Partners Deutsche Bank to Boost Trade Finance in Africa with a Focus on Small, Fragile

To help provide vital financing to importers and exporters of essential goods in Africa, especially in small, fragile, and conflict-affected states, IFC announced a risk-sharing facility with Deutsche Bank of up to €215 million.
In 2022, African countries imported and exported $1.1 trillion worth of goods and services, equivalent to 54 percent of the continent’s GDP. However, cashflow limitations restrict banks in Africa from meeting client demand for trade finance, IFC annual bank surveys and an IFC-WTO joint study of West Africa show.
The partnership with Deutsche Bank is expected to help meet this demand, enabling Deutsche Bank to continue providing trade financing to African countries at a time when many global banks are pulling back—ultimately supporting the ongoing flow of trade on the continent. Increased trade in Africa and in other regions can help countries adapt to climate change and strengthen food security, including by improving the availability and affordability of food supplies, according to the IMF.
Under the facility, IFC will provide risk participation in a portfolio of trade transactions originated by Deutsche Bank with local issuing banks in Africa. The initial portfolio will cover risk for 40 issuing banks across 18 countries on the continent, 14 of which are classified by the International Development Agency (IDA) as small, fragile and/or conflict-affected.
“IFC’s risk participation with Deutsche Bank leverages our issuing bank network to enable trade flows in Africa with our Global Hausbank clients and echoes a shared commitment to ongoing economic growth in emerging markets,” said Borislav Ivanov-Blankenburg, Global Head of Documentary Trade Finance for Deutsche Bank.
“IFC’s partnership with Deutsche Bank comes at a time when traders in Africa are finding it increasingly difficult to access credit, with demand for trade finance from banks on the continent greatly outstripping supply,” said Mohamed Gouled, IFC Vice President for Industries. “This risk-sharing facility will help African importers and exporters participate in global value chains, creating jobs and driving economic growth.”
IFC anticipates that its investment will encourage other financial institutions to deliver trade finance to credit-issuing banks in Africa, resulting in more support for trade in essential goods across the continent.
The project is the first Global Trade Liquidity Program (GTLP) facility under the IFC Africa Trade and Supply Chain Recovery Initiative (ATRI) supported by the IDA Private Sector Window (PSW) Blended Finance Facility to help increase the amount of credit made available to emerging market issuing banks in Africa.
General News
Nigerian Tech Prodigy sets World Record with Smallest GPS Tracker

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.
General News
Africa Looks to Solar Amid Electricity Challenges

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.”
General News
Nigeria Trains 200,000 Citizens in AI to Drive Innovation and Sustainability

Federal Government of Nigeria has launched a major initiative to train over 200,000 Nigerians in Artificial Intelligence (AI) and other emerging technologies, aiming to build a digitally skilled workforce and position Nigeria as a continental leader in AI-driven innovation.
The announcement was made by Chief Uche Nnaji, Minister of Innovation, Science, and Technology, during the 10th Annual Symposium and Awards of the American Chemical Society (ACS), Nigeria International Chemical Sciences Chapter, held at the National Open University of Nigeria (NOUN) in Abuja.
AI’s Role in Sustainability and Economic Growth
Chief Nnaji, represented by Dr. Patricks Oghuma, Special Assistant to the Minister, emphasized the transformative power of AI, particularly when integrated with chemistry to address sustainability challenges.
“We are at the intersection of a revolution where artificial intelligence and chemistry converge to create new frontiers,” he stated. “This powerful synergy offers a vision of the future where innovation and sustainability work hand in hand”.
He also highlighted the gap between scientific research and real-world application, stressing the need for transformational research that directly solves real-world problems through AI.
Academic and Industry Collaboration
The Vice-Chancellor of NOUN, Prof. Olufemi Peters, echoed the Minister’s sentiments, noting that AI’s ability to model, predict, and optimize is vital for reducing waste, conserving energy, and enhancing chemical processes.
“At NOUN, we remain committed to providing accessible, technology-enhanced education that directly addresses national and global challenges,” Prof. Peters said.
The symposium gathered key stakeholders in science, technology, and academia, focusing on leveraging AI to drive sustainable solutions and calling for stronger collaboration between research institutions, industry, and government.
Building a Knowledge-Driven Economy
Prof. Edu Inam, Chair of the ACS Nigeria Chapter, reinforced the society’s commitment to research mentorship and student engagement, noting that ACS continues to host campus events and outreach programs aimed at nurturing young scientific minds.
The initiative is expected to accelerate Nigeria’s AI adoption, fostering economic growth, sustainability, and technological advancement across multiple sectors.
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