General News
Africa Becoming Magnet for Foreign Investment, But- Deloitte

Rising consumer demand, aligned with annual growth of around eight per cent, is likely to add around $1.1 trillion to African GDP by 2019, with Ethiopia, Uganda and Mozambique among the fastest expanding markets, and large economies such as Nigeria, South Africa and Egypt continuing to perform strongly, according to statistics contsined in 9th edition of the Deloitte Consumer Review.
In the review, Deloitte said that in recent years a diversifying economy has supported an emerging middle class, driving demand for consumer goods and services, as well as luxury brands.
However, risks remain, including a lack of infrastructure, poor governance, fragile security and unreliable logistics, but conflicts are more localised and democracy is spreading, suggesting the dominant trend is positive.
In Deloitte’s view, the consumer opportunity in Africa rests on five key pillars: the rise of the middle class, exponential population growth, the dominance of youth, rapid urbanisation and fast adoption of digital technologies.
Between 2000 and 2012, Africa’s aggregate household final consumption expenditure grew at an average annual rate of 10.7 per cent, rising by more than $850 billion and reaching nearly $1.3 trillion.
The emerging middle class is more optimistic, brand conscious and connected. In 2013 there were over 375 million middle class people living in Africa, or 34 per cent of the population. By 2030, over half a billion Africans are projected to be middle class.
While the numbers are impressive, it should be noted that 60 per cent of those considered middle class today live on $2 to $4 a day.
More than 200 million Africans, or just over 20 per cent of the total population, are aged between 15 and 24, and that demographic is expected to grow to 321 million by 2030.
Younger Africans form a large share of the rising middle class and will seek to access a wider choice of food, consumer goods and entertainment, and increased connectivity.
Africa’s population is also increasingly clustered in large urban centres, and urbanisation will be a key driver of economic activity.
Many urban areas will cross national boundaries, linking major populations and creating sizable markets and trade opportunities.
The growth of mobile digital technologies meanwhile has also allowed Africans to leapfrog poor landline infrastructure.
Africa is already a world leader in mobile money and mobile is fast becoming the primary channel for accessing the Internet.
The potential for growth is significant, with only 20 per cent of the population online, compared with nearly 75 per cent in Europe and 32 per cent in Asia.
To measure current consumer sentiment, Deloitte surveyed young Africans across four of the fastest growing consumer markets: Egypt, Kenya, Nigeria and South Africa.
The research shows that young consumers in the fastest growing markets of Kenya and Nigeria are most optimistic about their personal financial situation, more than in wealthier South Africa and Egypt.
Despite low income levels, young consumers surveyed attach more importance to the quality of products than price.
Across the four markets researched, quality ranks higher than value for money when it comes to deciding where to shop.
Not only are younger African consumers focused on quality, they are also brand conscious. Deloitte research shows that in some categories, such as food and drinks, local brands are preferred by the younger population.
In other areas, such as fashion and cosmetics, quality is linked to international brands.
The results of the survey suggest that Africa is not suffering from a lack of demand, but sometimes from a lack of supply.
However, where there are challenges, there are also opportunities to innovate and given the potential for growth the continent offers, the business opportunities in Africa could outweigh the risks.
Speaking on the review, Nigel Wixcey, lead partner, Consumer Business, Deloitte LLP said, “At a time when many emerging economies are slowing, Africa is now the second fastest-growing economic region behind Asia and is becoming a magnet for international capital. While Africa’s economy is going through an impressive transformation, it remains fragile, as the recent Ebola outbreak reminds us. Still, in the past decade it has seen strong growth, thanks to high commodity prices, a rise in foreign investment, increased political stability and improved economic governance.
“In this report, Deloitte aims to assess how the African market has developed, how perceptions of Africa have changed and how consumers are responding to period of rapid economic growth. What it took to succeed in the past may not be what it takes to succeed in the future. We discuss the importance of developing a 21st century view of the African consumer market and make the case for seizing the opportunity”.
Commenting on the review, Simon Carpenter, chief customer officer, SAP Africa, said the growth and advances in the African consumer market are some of the reasons why SAP is excited to be invested in building Africa’s information infrastructure.
He said, “Getting the right goods to consumers, profitable, requires insight and execution, supply chain optimisation and coordination, efficient ports and harbours feeding responsive hinterland logistics systems and appropriately stocked wholesale and retail outlets, online and on the ground.
“And SAP is there for all of these sectors, enabling each player to be their best and linking them all in responsive business networks – making sure that Deloitte’s prognosis that the ‘dominant trend is positive’ becomes a reality for Africa,” he said.
General News
Kuda Unlocks Instant Online Accounts for NGOs and Religious Bodies

Kuda has updated its business banking services to allow NGOs and incorporated trustees to open and manage business accounts entirely online. The move means religious organisations, charities, and other registered organisations no longer have to navigate the long wait and paperwork traditionally associated with setting up a business account.

Nosa Oyegun,
On the Kuda Business app, organisations registered with Nigeria’s Corporate Affairs Commission (CAC) can choose the NGO option during signup, submit their CAC documents, and provide trustee details. Once verified, accounts are activated within minutes, a significant reduction from the days or weeks it can take under traditional business banking processes.
For many NGOs and religious institutions, handling donations, grants, and operational expenses has long been slowed by manual systems and branch-based requirements.
The Kuda Business update is expected to make financial management faster and more transparent, allowing organisations to focus on their mission instead of battling administrative bottlenecks.
Nigeria is home to thousands of registered NGOs and religious organisations, with Lagos State alone accounting for over 10,000 churches and mosques as of the last count in 2021. Across the country, incorporated trustees play a critical role in education, healthcare, humanitarian response and community development. Despite their scale and economic relevance, access to modern digital banking tools has remained limited for many of these institutions.
Nosa Oyegun, SVP Business Banking at Kuda, said the update is proof of Kuda’s focus on removing structural barriers that slow Nigerian organisations down. “NGOs and religious organisations are responsible for managing funds that directly impact communities, yet they are often forced to operate with outdated banking processes,” he said.
“By enabling incorporated trustees to open Kuda Business accounts entirely online quickly, we’re giving these organisations access to the same modern financial tools built by Kuda that other businesses already use, so they spend less time doing admin work.”
With Kuda Business, NGOs and religious organisations can manage incoming donations and grants, make payments, track transactions in real time, generate professional account statements for audits and reporting, and grant controlled access to trustees, treasurers and administrators, all on a single app.
Kuda designed the account signup process to meet regulatory requirements while significantly reducing manual reviews and customer support workload. Automations shorten notoriously long business signup timelines while improving information accuracy and user experience.
As reforms promoting cashless payments and digital financial services take hold in Nigeria, NGOs and religious organisations are under increasing pressure from donors, partners and regulators to operate with greater financial transparency and efficiency.
The new Kuda Business update is therefore timely, offering a dedicated digital account specifically designed for this segment, unlike many traditional banks and fintech platforms that treat incorporated trustees as special cases requiring comparatively slower manual intervention.
General News
Catholic Bishops Urge FG to Give Tax Laws Human Face

Catholic Bishops of the Ibadan Ecclesiastical Province has called on the Federal Government to implement the ongoing tax reforms with equity, openness and empathy, cautioning that policies devoid of human consideration could further compound the suffering of millions of Nigerians.

The appeal was contained in a communiqué released after the bishops’ first provincial meeting for 2026, which took place at the Jubilee Conference Centre in Ibadan, Oyo State.
The document was jointly signed by Most Rev. Gabriel Abegunrin, chairman of the Ibadan Ecclesiastical Province, and Most Rev. John Oyejola, secretary.
Recall that the tax reforms were introduced by the administration of President Bola Tinubu and assented to on June 26, 2025.
They officially came into effect on January 1, 2026, and have continued to attract diverse reactions across the country.
In the communiqué, titled “Sustaining Hope and Strengthening Our Good Efforts,” the bishops acknowledged the government’s desire to overhaul Nigeria’s tax system but expressed concern that its implementation had sparked widespread unease and debate, especially among the poor and vulnerable.
“The reforms should be anchored on fairness, transparency and accountability, urging the government to apply them with compassion.
“The bishops also advised that vulnerable citizens should be given sufficient time to adapt to the new tax regime before strict enforcement measures are introduced.”
The clerics warned that economic policies pursued without sensitivity could widen inequality and heighten social unrest, noting that taxation should not become an added burden for Nigerians already grappling with inflation, unemployment, and rising costs of living.
The bishops encouraged Nigerians to remain hopeful while backing prayers with responsible citizenship, diligence and respect for justice and the rule of law.
“As shepherds of God’s people, we urge Nigerians to reject cynicism and despair. Prayer must be accompanied by good works. This is the only country we have,” the communiqué concluded.
General News
Taraba Adopts Electronic Case Management System
Taraba State in Nigeria has developed an electronic platform for filing criminal cases in the state’s High Courts, marking the implementation of the new National Case Management System.
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The launch, announced on Monday, marks a move from manual to electronic filing of criminal cases and is part of attempts to reform court processes and expand access to justice using technology.
Governor Agbu Kefas stated that the action underlines the government’s dedication to institutional strengthening, the rule of law, and effective governance.
Kefas pledged continued government support for the judiciary, noting that technology is essential for delivering swift, fair and transparent justice.
He also stated that the state would give the resources and infrastructure required to maintain the ongoing judicial reforms.
Justice Joel Agya, Chief Judge of Taraba State, stated that the e-filing facility will enable the electronic filing of originating processes and subsequent applications.
He explained that the system would enhance case tracking from filing to final determination while reducing delays caused by manual registry procedures.
Justice Agya went on to say that the platform would improve the security and accessibility of court records, as well as help judges manage dockets and time better.
He emphasised that the platform is intended to supplement rather than replace judicial decision-making, ensuring that administrative procedures do not impede the delivery of speedy justice.
The development is consistent with a broader national push to digitalise judicial processes across Nigerian courts, which has already been implemented in several regions.
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