News
EDC Targets Nigeria in $10bn Sub-Saharan Africa Investment Plans

Global corporate financier Export Development Canada (EDC) opened its representation in sub-Saharan Africa. Nigeria stands to benefit as EDC aims to grow its total business in Africa to USD 10 billion in the next five years.
EDC, Canada’s official trade finance agency, on Thursday disclosed these plans emphasising its commitment to facilitating business for sub-Saharan Africa by opening a permanent representation in Johannesburg, South Africa.
As one of the largest and most progressive export credit agencies in the world, EDC has helped facilitate more than USD 7.4 billion in business between African and Canadian companies over the past five years, USD 235 million of which has been with Nigeria.
EDC’s financing is available to sub-Saharan corporations, project owners and banks that have, or are open to considering, business with Canadian companies, or their affiliates in the region.
In Nigeria, EDC said it will initially be focusing on facilitating business between Canadian companies and Nigerian enterprises in the extractive industries, infrastructure, power, transportation and ICT.
“With 70 years of international financing experience and annual global business volumes nearing USD 100 billion, EDC has the capital and experience necessary to undertake transactions of any size for sub-Saharan companies. EDC is investing in sub-Saharan Africa for the long term, and Nigeria will be one of our initial focus areas. We intend to become growth partners for the banks and companies with whom we develop relationships,” said Jean-Bernard Ruggieri, EDC’s first Chief Representative, sub-Saharan Africa.
“This is what sets EDC apart from other financiers, because we measure our success by the success of our customers. So in addition to offering innovative and reliable financing, EDC can serve as a supply-chain talent scout,” he explained.
Key sectors of interest for EDC as it expands into the broader African market include commodities, infrastructure, ICT, clean technology, transportation and agriculture.
Light manufacturing and healthcare/life sciences are emerging sectors for EDC in the midterm. “Canadian companies have strong capabilities in all of these areas and can provide Africa with the goods, services, and expertise that are needed in developing these critical sectors” said Ruggieri.
EDC follows a very flexible model which allows it to deliver maximum value to partners and customers. “We can offer clients in both developed and developing markets access to financial capital that suits their unique circumstances” said Ruggieri “and we are well-equipped to meet the financial needs of sub-Saharan companies wanting to trade with Canada, whether they require single contract financing or funds for capital expenditure.
And if African companies do not as yet have Canadian relationships, EDC can assist with sourcing suitable Canadian supply chain partners.”
EDC also prides itself on its multi-stakeholder partnership approach. “We work closely with a range of financial institutions such as South African and international banks, in addition to our efforts with the Canadian Trade Commissioner Service across Africa, and our model often includes syndication structures with various financial services participants” noted Ruggieri.
“Africa has massive infrastructure demands and a growing loan market, and in these conditions EDC is looking to grow our total business in the market to USD 10 billion in the next five years.”
EDC also has permanent representations in Bogota, Rio de Janeiro, São Paulo, Lima, Mexico City, Monterrey, Santiago, Shanghai, Beijing, Singapore, Mumbai, New Delhi, Moscow, Dubai, Istanbul, and Düsseldorf.
EDC is Canada’s export credit agency, providing financial services for companies that buy from Canadian companies or those that have Canadian supply and services in their corporate value chains.
EDC’s financing can be used for capex and/or project finance requirements, either through bilateral or syndicated corporate facilities.
Operating on commercial principles, EDC has a partnership-preferred philosophy to collaborate with private-sector financial institutions to share risk and create greater capacity for Canadian trade transactions.
EDC added that it is committed to Corporate Social Responsibility, and it takes into account the environmental and social impacts of its transactions
News
Firms Commit to Boost African Robotics Market

AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.
According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.
The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.
AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.
The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.
“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.
Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.
Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.
The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.
Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”
News
Subair: LIRS Won’t Raid Accounts – Unless You’ve Lost Every Court Battle

Lagos State Internal Revenue Service Executive Chairman Ayodele Subair Tuesday demolished online panic over alleged bank account raids, insisting the agency’s “Power of Substitution” targets only hardcore tax dodgers who have exhausted every appeal from tribunals to the Supreme Court over half a decade of disputes.

Ayodele Subair
Subair, speaking on Arise TV, shredded viral fears that LIRS would swoop on residents’ savings without warning, clarifying the mechanism under Section 60 of the Nigeria Tax Administration Act 2025 kicks in solely after assessments spark objections, reconciliations, demand notices, and a gruelling courtroom odyssey through High Court, Court of Appeal, and apex rulings.
The LIRS weekend notice had ignited fury by announcing enforcement via third parties – banks, employers, tenants, debtors – to claw back unpaid Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax from chronic defaulters holding funds or owing money to them, whether due now or accruing later.
Subair likened the process to a “long timeframe, not less than five years,” where recalcitrant bigwigs who stonewall every step become fair game, with LIRS directing agents like customers or partners to divert payments straight to the taxman in lawful settlement.
Far from arbitrary grabs, the chairman stressed it’s a final resort for “entirely recalcitrant” holdouts who ignore Notice of Refusal to Amend (NORA) and every olive branch, ensuring Lagos coffers snag rightful revenue fuelling the state’s bulging budget without shotgun raids on compliant payers.
As social media buzzes with defiance – “They can’t touch my account!” – Subair’s blueprint spotlights Nigeria’s tax evasion scourge starving subnationals of trillions yearly, with Lagos alone chasing billions in arrears amid federal revenue wars and economic headwinds squeezing the commercial capital’s 25 million souls.
Industry voices nod to the legality but plead for digital dashboards tracking disputes transparently, warning overzealous recovery could spook investors in Africa’s fintech and startup mecca already reeling from naira nosedives and grid glitches.
With LIRS poised to unleash the hammer on vetted violators, Subair’s clarion call aims to separate myth from muscle, bolstering Lagos’ IGR juggernaut that hit N815 billion last year while daring defaulters to test the full judicial gauntlet before crying foul.
News
NIGCOMSAT Adopts Government’s Performance System

Nigerian Communications Satellite (NIGCOMSAT) Ltd, in a strategic move to modernise its operations and foster a results-oriented workforce, has officially adopted the Federal Government’s Performance Management System (PMS).

The initiative, aimed at driving efficiency and institutionalising accountability, was marked by an intensive staff training program designed to align the agency’s operations with national performance goals and the Presidency’s vision for a digital-first public sector.
According to a statement from Stephen Kwande, the Agency’s acting head of Corporate Affairs, “the transition to PMS is a departure from historical evaluation methods. The new system is designed to provide real-time performance tracking and instill a stronger work ethic across all directorates”.
Welcoming participants, Mrs. Jane Nkechi Egerton-Idehen, managing director/CEO of NIGCOMSAT, represented by Abiodun Attah, executive diirector, Technical Services, described the adoption as “long overdue.”
She emphasised that the system is critical for ensuring that NIGCOMSAT contributes effectively to Nigeria’s broader digital economy targets.
In her opening remarks, Mrs. Chinwe Udogu, general manager, Human Resources Management, expressed NIGCOMSAT’s enthusiasm for the program, urging staff to dedicate themselves fully to the three-day training.
She noted that the exercise was pivotal in repositioning the company to achieve its highest aspirations.
The training consultant, Mrs. Njoku Chioma, said the program is expected to drive culture change, automate work processes, and strengthen institutional performance.
The three-day training, jointly organised by the Office of the Head of Service of the Federation and NIGCOMSAT Management, covers key themes including:
• Overview of the FCSSI25 as an institutional performance-driven Federal Civil/Public Service
• Service culture and workplace attitude in the Nigerian public sector
• Implementation of the Performance Management System in NIGCOMSAT
• Application of Artificial Intelligence tools to enhance performance in the Nigerian public sector
The move comes at a time when NIGCOMSAT is expanding its footprint, with recent initiatives like the 2026 SpaceTech Accelerator Programme and partnerships for grassroots digital skills training.
By strengthening its internal management framework, the agency aims to ensure that its technical advancements in satellite technology are matched by an equally efficient administrative engine.
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