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
PalmPay, LASUBEB Deepen Efforts to Keep More Children in School

PalmPay Group has announced a strategic partnership with Lagos State Universal Basic Education Board (LASUBEB) to recognise and reward high-performing students in selected public schools across Lagos, as a broader commitment to supporting ambition and expanding opportunities for young Nigerians.

Nigeria continues to face a significant out-of-school children challenge. According to UNICEF, 18.3 million school age children are currently out of the classroom. While access to education has improved over time, keeping children in school requires more than enrollment alone. It also depends on motivation, support, and visible pathways that show young people the long-term value of education.
Through this collaboration, PalmPay will work with LASUBEB and educators across selected public schools to identify and reward outstanding students. Selected students will be rewarded with scholarships, shopping vouchers and branded school kits designed to support their learning needs and ease part of the burden on their families.
Speaking on the partnership, Chika Nwosu, Managing Director at PalmPay, said: “Recognizing and rewarding high-performing students goes beyond celebrating excellence. It reinforces the value of education, strengthens motivation, and supports families in keeping their children in school. Through our partnership with LASUBEB, we are contributing to an ecosystem where young people are encouraged to stay engaged and pursue their ambitions.”
By working directly within the public education system, the initiative is designed to deliver support where it can make the greatest difference. When students see their efforts recognized and rewarded, it strengthens their commitment to learning and helps families see that academic discipline and consistency can open doors to real opportunity.
The partnership reflects PalmPay’s broader commitment to economic and social inclusion. As the company continues expanding financial access across Nigeria, it is also investing in initiatives that help reduce barriers for families and create more pathways for young people to thrive.
By integrating education-focused support into its wider CSR agenda, PalmPay is contributing to ongoing efforts to strengthen community outcomes, encourage aspiration, and invest in the future workforce that will drive Nigeria’s growth.
General News
NCDC Enhances Monitoring, Releases Advisory amid Rising Global Hantavirus Cases

Nigeria Centre for Disease Control (NCDC) has intensified nationwide disease surveillance following reports of a Hantavirus infection cluster connected to international cruise ship travel involving several countries.

Dr Jide Idris, director-general, NCDC, in a public health advisory, confirmed that Nigeria has not recorded any confirmed Hantavirus case and stated that the overall public health risk remains low.
According to the agency, the reported outbreak currently involves a limited number of confirmed and suspected infections linked to cruise ship exposure, while international investigations and contact tracing efforts continue.
The NCDC explained that the advisory was released to strengthen national preparedness and encourage vigilance against emerging infectious diseases amid growing global concern surrounding the outbreak.
Health authorities noted that Hantaviruses are mainly transmitted through exposure to infected rodents, their urine, saliva, droppings, or contaminated dust particles. Symptoms may include fever, fatigue, muscle pain, gastrointestinal illness, and in severe cases, respiratory complications.
The current outbreak has reportedly been associated with the Andes virus strain, which has shown limited human-to-human transmission through close contact in previous cases.
The NCDC stated that enhanced monitoring systems have been activated nationwide to support early detection and rapid response efforts.
The agency also urged Nigerians to maintain proper hygiene, prevent rodent infestations, safely store food items, and avoid exposure to rodents and contaminated environments.
Officials further advised the public to rely only on verified information from recognized health authorities and avoid spreading misinformation regarding the outbreak.
General News
Moniepoint Partners GDG Lagos, Women Techmakers to Empower the Next Generation of Women Architects in Tech

In a critical move to bolster talent density and accelerate Nigeria’s digital economy, Africa’s all in one financial ecosystem, Moniepoint hosted an International Women’s Day event bringing together women in technology for a day of leadership development and hands-on product building.

Held at Moniepoint’ Headquarters in Lagos, themed “Break the Pattern,” the event was organised in partnership with Women Techmakers Lagos and Google Developer Group (GDG) Lagos with participants spanning both technical and non-technical backgrounds, reflecting the breadth of women currently active across Nigeria’s digital economy.
In a keynote address delivered by Kemi Nwogu, Head of Product at Moniepoint Inc, titled “Breaking the Pattern: How Women Can Redefine the Future of Tech,” she made the case that progress for women in technology requires not just access to existing structures, but the tools and confidence to reshape them. Furthermore, Nwogu issued a bold call to action, urging attendees to move beyond traditional career playbooks and take ownership of shaping the industry’s future.
“From a young age, many girls have been subtly discouraged from pursuing science and tech. They are told sometimes directly, sometimes indirectly, that tech is too hard, too technical, or simply not for them. These patterns are not facts, they are constructs. And what has been constructed can be deconstructed! The future of tech needs leaders who build people, not just products, cultures, not just systems,”said Nwogu.
On building skills with purpose, she urged women to “show up everyday, make small, steady progress with online courses, coding bootcamps, open-source projects while leveraging the full ecosystem; take on challenging tasks as your greatest classroom using real problems to build real skills; while knowing why you’re building a skill as every learning goal can be tied to a career journey.”
This thematic fare of the event was further explored in a panel discussion, “Unscripted: Leading Beyond the Patterns We Inherited”, moderated by Atinuke Oluwabamikemi Kayode and featuring leaders from fintech, creative design, and software engineering space, including Chukwu Adaeze (Creative Director, CAV Digital), Chinenye Ogbu (Customer Experience Lead, Hydrogen), and Motunrayo Koyejo (Senior Software Engineer, Cowrywise).
The robust and extensive conversation examined the professional archetypes that have historically defined leadership in the Nigerian tech ecosystem: the engineering culture that equates output with exhaustion, the creative industry’s tendency toward top-down authority, the script-driven rigidity of customer-facing roles. The panelists also provided deep insights into how they had navigated and, in places, dismantled those patterns within their teams and organizations.
The event went beyond conversations to a hands-on workshop, Prompt to Production, facilitated by Taiwo Famakinde which guided attendees through modern product development from prompt design through rapid prototyping to the deployment of a functional application using AI tools.
A lot of the participants entered with little to no prior experience building software products. The workshop then fed directly into a Buildathon, where participants developed and deployed their own solutions in real time, with the strongest builds recognised and rewarded at the closing ceremony.
“IWD celebrations are often heavy on inspiration, but we wanted to offer something more, a proof of capability. Oftentimes, there is a gap between having ideas and actually building them, and we set out to bridge that by creating a space where women could easily deploy their ideas into live products with AI in just a few hours. By the end of the day, something that once felt complex due to the fast pace of AI started to feel possible.
“Our participants left with both the technical confidence to build and the leadership frameworks to navigate their careers on their own terms, ensuring they are no longer just participants in the tech ecosystem, but the architects of its future. They are now ready to test their ideas and lead without waiting for perfect conditions or a full team.” said Funke Olasupo, Co-organizer, Women Techmakers Lagos.
Interestingly, the “Break the Pattern” event sits within a broader investment in Nigeria’s technology talent pipeline that Moniepoint has deployed over the years. As one of Nigeria’s most significant fintech employers, the company runs a critical engine that sustains Nigeria’s formal and informal economy.
Moniepoint has invested in developer community partnerships including its ongoing collaboration with GDG Lagos as well as internal programmes designed to build engineering depth across product domains that include its highly successful Women in Tech initiative, DreamDevs, HatchDev and the government’s acclaimed 3MTT programme.
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