Governments want capital, skills and global networks. Diaspora communities want something in return: citizenship, political voice, investment protection and institutions they can trust. African governments have spent years asking their diasporas to stay connected. Increasingly, they are asking for something more specific. In August, Nigeria told citizens abroad that remittances should become the “floor” of
Nigeria wants officially recorded diaspora remittances to reach $1 billion a month by the end of 2026. The target looks ambitious, but the Central Bank of Nigeria says monthly inflows have already risen above $600 million. Speaking at the BusinessDay CEO Forum in July, CBN governor Olayemi Cardoso attributed the increase to reforms aimed at
Forbes counted 23 African billionaires in its 2026 annual ranking, with combined wealth of $126.7 billion. Ten of them accounted for $100.2 billion. That puts 79% of the billionaire wealth measured by Forbes in the hands of the top 10. All 10 come from three countries: Nigeria, South Africa and Egypt. Nigeria’s three members of
Ghana’s National ID has been upgraded to a payment card as well. Ghanaians already use the card to register SIM cards, apply for passports, and access government services can now hold money, process payments, and send funds internationally. The National Identification Authority (NIA), the statutory body that manages Ghana’s national identification system, has activated an
Satellite internet in Africa has become the most contested technology market on earth, and in 2026, there is a new player on the market. Amazon has secured an operating licence in Nigeria for Amazon Leo, its low-Earth orbit broadband service, placing it in direct competition with Elon Musk’s Starlink. At the same time, Meta and
Zimbabwe lithium processing has reached a turning point. The government has banned raw ore exports, forced mining companies to refine the mineral on home soil, and positioned the country as one of the most important lithium producers outside Australia and Latin America. On paper, that is exactly the kind of industrial policy Africa has needed
Canada’s Lucara Diamond has recovered a 36.92-carat blue diamond from stockpiled ore at its Karowe mine in Botswana, one of the rarest gemstone discoveries on the continent in years. Classified as a Type IIb diamond, the stone gets its blue colour from traces of boron, placing it among the most valuable gems on earth. What
BUA Foods Plc, the consumer staples giant controlled by billionaire Abdul Samad Rabiu, posted a sharp rise in earnings for the year ended Dec. 31, 2025, as Nigerians’ demand for everyday food items pushed revenue higher despite inflationary pressure. The company’s unaudited financial statements show profit after tax of ₦507.7 billion (about $366.6 million), nearly
For more than a decade, Nigerian PayPal accounts could pay foreign merchants but could not receive money. A partnership with Paga has reopened the inbound side of the network. PayPal has restored inbound payments for Nigerian users through Paga, ending a restriction that kept locally registered accounts from receiving money for most of the past
Talks about a public listing for Dangote Refinery are advancing quickly and may be the biggest capital-market stories in Nigeria. The reason is that the asset is so large that bringing even a slice of it to market would materially change the Nigerian Exchange (NGX) in terms of size, liquidity, and global visibility. At the