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AfDB, AfCFTA Unite to Unlock $3.4 Trillion Continental Market Through Strategic Infrastructure Development

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The African Development Bank Group, the African Continental Free Trade Area (AfCFTA) Secretariat, and Africa50 have signed a Memorandum of Understanding to catalyse infrastructure development across the continent and unlock the full potential of the largest free trade area in the world since the establishment of the World Trade Organization.

Signed at the Africa50 General Shareholders Meeting in Maputo, the tripartite agreement establishes a comprehensive framework for cooperation in identifying, designing, constructing, and maintaining critical infrastructure projects that will enhance intra-African trade, accelerate regional integration, and drive digital transformation across the continent’s market of 1.3 billion people.

Currently, intra-African trade accounts for just 15–18% of total African trade, compared to 68% in Europe and 59% in Asia. The new partnership between the three institutions aims to dramatically increase this figure by addressing the infrastructure gaps that currently constrain trade flows across African borders.

It will prioritise developing multimodal transport corridors, cross-border infrastructure, logistics hubs, ports, and airports to seamlessly connect African markets and reduce the cost of doing business across borders.

Recognising the transformative power of the digital revolution, the partners will also work together to establish cutting-edge data centres and digital trade platforms, enabling African businesses to compete in the global digital economy.

“The African Development Bank has played a lead role in supporting the development and operation of regional economic corridors throughout the African continent by investing over $55  billion in the last nine years to develop road corridors, ports, railways, and expand power pools to interlink countries and boost trade,” said Solomon Quaynor, the Bank’s Vice President for Private Sector, Infrastructure & Industrialization.

Specifically, the Bank invested over $8 billion across 109 cross-border, economic corridors, and infrastructure projects between 2014 and 2024

He added: “The tripartite agreement between the AfCFTA Secretariat, the African Development Bank, and Africa50 underscores the paramount importance of realizing the full potential of the AfCFTA single market with its combined annual GDP of $3.4 trillion through the establishment of transport infrastructure.”

Alain Ebobissé, CEO of Africa50, emphasized that the agreement will support “the development and financing of trade-enabling infrastructure to boost intra-African trade, one of the continent’s greatest endeavours.”

The partnership will operate on six strategic pillars: ensuring alignment with the AfCFTA Agreement and regional policies; jointly identifying bankable projects; mobilising capital through innovative finance mechanisms; establishing robust tracking systems; encouraging stakeholder dialogue; and integrating environmental, social, and governance standards throughout project lifecycles.

The three-year memorandum of understanding will be operationalised through detailed joint work plans and specific implementation agreements that will define projects, timelines, and financing arrangements. Technical working groups will be established to ensure effective coordination among the partners and alignment with national and regional development priorities.

Speaking on a panel at the Africa50 event, Wamkele Mene, Secretary-General of the African Continental Free Trade Area, said: “In the global context, we are facing an unprecedented challenge in Africa.

“But this challenge is a unique opportunity for Africa; it is a wake-up call for us that we have to invest in our institutions, in infrastructure, and our skills. Infrastructure development is at the heart of trade and is a prerequisite to doubling intra-African trade to 25% by 2030.”


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General News

Lagos Launches Centralised Mental Health Providers Directory

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Lagos State Government has unveiled the Lagos Community of Mental Health Providers (LCP) Directory, a pioneering digital registry that centralises verified information on all mental health practitioners and organisations across the state.

Lagos Launches Centralised Mental Health Providers Directory

The launch, which took place at the Ministry of Health, Alausa-Ikeja, marks a significant advancement in the state’s efforts to enhance access to mental health services, reduce stigma, and foster collaboration among providers in Nigeria’s most populous city.

Dr Tolu Ajomale, head, Special Projects and Mental Health, Lagos State Ministry of Health,  said the directory marks a “historic and system-shaping milestone” in Lagos State’s commitment to improving access, reducing stigma, and strengthening coordination within its fast-expanding mental-health ecosystem.

He emphasised that, despite Lagos being home to Nigeria’s largest concentration of mental-health practitioners, the absence of a unified, verified information hub has long hindered access and timely help-seeking.

Dr Ajomale explained that the new directory directly addresses these gaps by providing a single, trusted, real-time platform where residents, families, health workers, development partners, and policymakers can identify credible mental-health providers, their locations, areas of expertise, and accessibility.

“This platform replaces confusion with clarity, isolation with collaboration, and misinformation with accountability,” he noted.

The directory, he added, aligns with the Lagos State Mental Health Law (2018), the THEMES+ Agenda, and the Ministry’s broader public health and primary healthcare strengthening strategies.

He described it as a major step toward consolidating the State’s leadership in mental-health reform and ensuring that every Lagosian can find help safely, reliably, and promptly.

According to Dr. Ajomale, the LCP Directory captures both clinical and non-clinical actors, including psychiatrists, psychologists, psychiatric nurses, social workers, therapists, NGOs, digital health innovators, research institutions, community groups, support networks, and diaspora providers offering virtual services.

This inclusive scope, he said, reflects the State’s commitment to recognising all contributors to mental wellbeing.

He listed improved access to credible resources, enhanced visibility for providers, strengthened referral systems, and support for research, planning, and policy implementation among the platform’s core benefits.

According to him, the directory also establishes a more coordinated environment for partnership, innovation, and mental-health system development.

Dr Ajomale announced that registration is officially open via www.lagosmind.org/providers and www.bit.ly/ileraokan, urging all practitioners and organisations to join the verified network.

He stressed that registration is completely free and subject to a multi-step verification process to ensure safety, accuracy, and compliance with the Nigeria Data Protection Act.

He further revealed that providers and organisations stand to gain significantly from increased visibility, stronger referral pathways, access to collaboration opportunities, and recognition as part of Lagos State’s official mental-health ecosystem. Periodic updates, training opportunities, and research engagements will also be extended to registered members.

Highlighting the public-health rationale, Dr. Ajomale noted that Lagos, because of its dense population and urban pressures, carries a disproportionate share of Nigeria’s mental-health burden.

Yet, residents often rely on unverified sources, guesswork, or social media for help, putting them at risk of unsafe or inappropriate service referral.

He emphasised that the new directory will help Lagosians navigate crises, locate services based on LGA, cost, specialty, language, or accessibility, and reduce misinformation. “For the first time, Lagosians will have a central, reliable gateway to mental-health care,” he said.

The directory will also support government planning by enabling real-time mapping of workforce distribution, service availability, and emerging gaps in the system.

Dr. Ajomale said the data-driven approach will further strengthen emergency preparedness and mental-health integration into primary healthcare.


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Paystack Suspends CTO Ezra Olubi Over Alleged Misconduct, Launches Investigation

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Nigerian payments company, Paystack, has suspended its Co-founder and Chief Technology Officer, Ezra Olubi, following allegations of sexual misconduct involving a subordinate.

The company, in a statement issued on Wednesday night, said the suspension was effective immediately and that a formal investigation had commenced.

“Paystack is aware of the allegations involving our co-founder, Ezra Olubi. We take matters of this nature extremely seriously. Effective immediately, Ezra has been suspended from all duties and responsibilities pending the outcome of a formal investigation,” the statement read.

The development followed widespread circulation of the allegation on social media on Nov. 12, alongside resurfaced tweets from Olubi’s account dating back to 2009–2013.

The tweets, which contained sexually explicit remarks about colleagues, minors, and anime characters, triggered public outrage and calls for accountability.

Olubi has not issued a public response and deactivated his X (formerly Twitter) account shortly after the controversy escalated.

Paystack said it would refrain from further comment until the investigation is concluded, citing respect for those involved and the need to preserve the integrity of the review process.

The incident comes amid growing scrutiny of misconduct in Africa’s tech sector. In October, a Kenyan court fined Oscar Limoke, CEO of Pawa IT Solutions, for sexual harassment and assault in a case that led to a staff resignation.

Founded in 2015, Paystack is one of Africa’s most prominent startups, known for its landmark $200 million acquisition by Stripe in 2020. The company’s reputation and global ties have drawn significant attention to the ongoing investigation.

Paystack reaffirmed its commitment to maintaining a safe and respectful workplace, stating that the review would follow a transparent process aligned with its internal policies and values.

Stripe, Paystack’s parent company, has yet to respond to requests for comment.


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SiBAN Partners Vontech to Strengthen Nigeria’s Blockchain Ecosystem with $100,000 AWS Cloud Support for Startups

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The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) is proud to announce a strategic partnership with Vontech, an AWS Advanced Consulting Partner, to advance blockchain innovation and capacity building across Nigeria’s digital economy.

Through this collaboration, blockchain startups and developers in Nigeria will gain access to $100,000 in AWS Cloud credits, empowering them to build, scale, and optimize solutions that leverage cloud infrastructure and artificial intelligence.

This partnership represents a significant milestone in SiBAN’s mission to create an enabling environment for blockchain adoption, regulatory engagement, and sustainable innovation within the country. By connecting local builders with global technology resources, SiBAN continues to champion a future where Nigerian blockchain projects can compete and collaborate on a global scale.

“At SiBAN, our vision is to make Nigeria one of the safest and most vibrant blockchain ecosystems in the world. This partnership with AWS and Vontech reflects our commitment to equipping our members and startups with the technical foundation needed to innovate confidently and grow sustainably,” Obinna Iwuno

SiBAN invites blockchain founders, startups, and ecosystem enablers to join its growing network of innovators, regulators, and investors working together to strengthen Nigeria’s digital asset and Web3 landscape.

By becoming a SiBAN member, you gain access to training programs, international partnerships, policy advocacy, and exclusive opportunities like this AWS initiative designed to drive real impact across the blockchain sector.

 


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