General News
Africa Doesn’t Need More Aid. It Needs Better Law

By Eric Gumbo, MBS
For decades, the dominant story of African development has been one of dependency: waiting for the World Bank loan, the IMF arrangement, the donor conference, the debt relief round. That story is not entirely wrong, the only concerns are; must it be our default setting? Do we have more sustainable options? Kenya, with little fanfare, is rewriting the script in answering these existential questions.

Eric Gumbo
Over the past few years, Kenya has enacted a sweep of legislation culminating into the most ambitious domestic capital mobilization framework on the African continent. Its centrepiece, a KSh 5 trillion National Infrastructure Fund, which is not another borrowing vehicle. It is something structurally different: a mechanism designed to make Kenya’s own savings, its pension funds, its retail investors, its private equity market, do the work that foreign debt was never built to do sustainably.
The problem it is solving is rarely discussed in development economics circles, though it should be. Africa’s infrastructure financing gap, estimated at $68 to $108 billion a year by the African Development Bank, is not primarily a shortage of money. There is no shortage of capital in the world. The shortage is of investable projects: opportunities where private capital can be mobilised without facing crippling sovereign risk, opaque regulatory environments, or legal frameworks that shift mid-contract. That uncertainty is not a footnote. It is the reason trillions of dollars in global private capital have largely bypassed the continent.
“The shortage is not of money. It is of investable projects, and the legal certainty that makes them possible.”
The National Infrastructure Fund established as an Act of Parliament addresses this directly. By absorbing sovereign and legal risk at the project level, it removes the uncertainty that forces private investors to demand prohibitive risk premiums or walk away entirely. It acts as a structural buffer between the Kenyan state and the market, giving development finance institutions, private equity funds, domestic pension managers, and local retail investors a common platform on which to participate without exposure to the regulatory volatility that has stalled projects across the continent for a generation.
The financing pathway is streamlined: due diligence burdens shrink, incentives align between public and private participants, and patient long-term capital, the kind infrastructure actually requires, finds a credible home. The KSh 5 trillion pipeline of dams, roads, and urban transit becomes financeable not because Kenya has borrowed more, but because the NIF makes the risk profile legible and acceptable to capital that previously had nowhere in Kenya to go.
This matters beyond Kenya’s borders. Rwanda built a competitive economy from near-zero after 1994. Botswana converted diamond revenues into one of Africa’s most stable development trajectories through the Pula Fund. Mauritius became a continental financial hub through regulatory design alone. These nations did not succeed by waiting for the global financial architecture to serve them. They engineered their own conditions for growth. Kenya is now doing the same, at greater scale, and with instruments far more sophisticated than anything its predecessors had available.
The human dimension of this architecture is equally significant. The recently executed 65 percent IPO of the Kenya Pipeline Company, targeting KSh 100 billion on the Nairobi Securities Exchange, was the largest state offering since Safaricom’s landmark 2008 listing. When an ordinary Kenyan in Kisumu or Eldoret can hold shares in the pipeline that carries fuel to their town, development stops being something administered from above and becomes something people own, a democratisation of sovereign wealth. A proposed Sovereign Wealth Fund, with an intergenerational component anchored in the Kenyan laws, extends the same logic forward in time: today’s resource revenues become tomorrow’s infrastructure, rather than today’s debt service.
None of this works without legal ingenuity. The legal profession across Africa must stop treating transformative legislation as a courtroom opportunity and start treating it as architecture to be designed soundly from the outset; an opportunity to co-create with an intention of catalysing and not curtailing growth. Innovation in finance and innovation in law must move together, or neither moves fast enough. In this journey, perfection ought to be modelled in a kaizenian fashion; incremental. Waiting for perfection may altogether kill the opportunities and ultimate achievements.
As Mohammed bin Rashid Al Maktoum, the architect of Dubai’s own transformation from desert outpost to global financial hub, once observed: “Time is too precious to waste on postponing our people’s dreams and expectations.” Africa’s legal community would script history to take that as its mandate.
The World Bank estimates that a 10 percent increase in infrastructure investment can raise long-term GDP growth by one to two percentage points in emerging economies. Those numbers translate into jobs, hospitals, schools, and the material improvement of lives. Kenya’s new framework will not automatically deliver them. Discipline, transparency, and governance that is genuinely insulated from political interference will determine whether the architecture performs or corrodes.
Africa does not need to borrow its way to prosperity. It needs to build its way there—using the assets it already owns, the savings it already holds, and the institutions it must now have the courage to build.
The opportunity is not merely economic. It is civilisational.
General News
Winners Emerge in KidsCook Showdown 2.0 Programme

The dual of little Damilare Adeniran and Gold Obi Besong, students of Pastor Adegboyega Nursery and Primary School, Ketu emerged overall winners in this year’s KidsCook Showdown 2.0 held over the weekend.

KidsCook Showdown is an initiative of Dominion Consultancy Concepts, aimed at introducing children between the ages of 6 and 8 to household chores early.
At the grand finale of the contest that featured four schools with two cooking contests of pasta and swallow, Pastor Adegboyega Nursery and Primary School, Ketu secured the highest points by the three judges, Aina Memorial Nursery and Primary School was the runners up; while Oke-Ifako Nursery and Primary School, Gbagada took third place.
Mrs. Enitan Tanimowo, Director, Dominion Consultancy Concepts, organiser of the event, said the goal of KidsCook Showdown is to inspire children to see cooking not just as a chore, but as a fun, creative way to develop themselves, learn discipline, and build confidence and these skills help them into the future.
“It is a thing of joy for us. When we started, it was a case of what can these children do? After all they are too small. But, we found out that the children can do things, they are not babies. What we are doing today is to prove that our children can do much more if we entrust them with that responsibility.
“There are a lot happening in our environment especially as many adults lack responsibilities today which can be trace back to upbringing. This event reminds parents of the need to train their children the way they should go, so, when they grow up they will be balance by understanding what responsibility means.
Tanimowo added that the initiative directly aligns with the United Nations Sustainable Development Goals—specifically SDG 3 (Good Health and Well-being) and SDG 4 (Quality Education)—by using hands-on, practical learning to promote balanced nutrition and social development. The event is bringing together parents, teachers, and professionals to champion the next generation.
Looking forward to 2027
She said the goal is to impact more children. This year, we worked with 6 schools in partnership with LASUBEB. And we want to impact more schools across different local governments in Lagos State.
“There’s need to equip our children to be hand-on, be diligent and responsible, it helps them. One research I read reveals that when children are taught how to be responsible at home, it helps them academically. This is one fact that many parents don’t know.
“One thing we have observed since the beginning of this initiative is that a lot of children within the ages of 6 and 8 are not taught how to be responsible at home.
These children should be capable at this age because their brain is already developing cognitive skills, the message is that parents need to do more in training our children better to be more responsible, be hands-on, it does help them. It helps the country as a whole because if we have more people that are responsible, they will be able to solve problems, take initiatives and as well build their businesses.
“We are excited by the level of participation in this edition and plans to reach out to more local governments in Lagos state. Our goal is to impact more children to be hands-on and responsible and in turn develop entrepreneurship skills in the children.
General News
Paystack Launches Programme to Support Nigerian Businesses

Paystack, one of Africa’s leading payments technology companies, has launched a programme to support Nigerian small businesses through a range of initiatives designed to help them grow, connect with relevant opportunities and access funding.

The scheme known as Paystack Small Business Programme will support businesses as they start, manage and grow their operations, starting with Paystack Small Business Bundle. The bundle gives eligible Nigerian merchants access to up to N4 million in discounts on tools and services from selected partners across key areas of business operations, including commerce, bookkeeping, logistics, design, workspace, customer communication and digital tools.
Small businesses play a significant role in Nigeria’s economy, but many still face daily operational challenges, from managing sales and records, reaching customers, handling deliveries, and accessing affordable tools.
The programme has been developed to provide practical support for these businesses as they manage daily operations and plan for their next stage of growth.
According to the firm, the Paystack Small Business Programme will start with different initiatives.
The firm explained that through the small business bundle, eligible merchants can access offers from partners including Bumpa, Ijeworks, Wiicreate, Flowcart, Simplebks, Africaworks, Paystack, Kindlybook, FezDelivery, Gamp, Pressone, Mercurie, Shuttlers and Canva.
Paystack is targeting 2,000 Nigerian SMBs for the small-business bundle, with additional partner offers expected over time.
General News
FG Moves to Track Ransom Payments Through Cashless Reforms

Federal Government is considering the reintroduction of a stricter cashless policy as part of efforts to combat kidnapping and other criminal activities across the country.

Security sources said the proposal is being reviewed alongside ongoing military and intelligence operations aimed at dismantling kidnapping networks and disrupting their sources of funding.
The sources disclosed that limiting the use of cash could make it more difficult for kidnappers and other criminal groups to receive ransom payments without detection.
According to the officials, many criminal organisations prefer cash transactions because they leave little or no financial trail, making it difficult for law enforcement agencies to trace payments and identify those involved.
They explained that ransom payments processed through formal financial channels are easier to monitor and investigate, thereby providing valuable intelligence for security agencies.
The sources noted that strengthening the cashless policy could improve the ability of authorities to track suspicious financial transactions and uncover criminal networks operating across the country.
Speaking on the development, security analyst Mr Iyke Odife described kidnapping for ransom as one of Nigeria’s most pressing security challenges.
Odife said victims of kidnapping now cut across various segments of society, including farmers, students, travellers, traditional rulers and residents of rural communities.
According to him, the widespread use of cash in the economy has continued to provide opportunities for criminal groups to receive and move ransom payments without attracting attention from security agencies.
He argued that reducing cash-based transactions could significantly limit the operational freedom of kidnappers and other organised criminal groups.
“The heavy reliance on cash makes it easier for criminal elements to collect and transfer ransom money without leaving a trace.
“A more robust cashless system could help security agencies track illicit financial flows and strengthen efforts to combat kidnapping,” he said.
The move comes amid growing concerns over insecurity in several parts of the country, where kidnapping for ransom has remained a major threat despite ongoing security operations.
Analysts, however, stress that any strengthened cashless policy should be accompanied by improved digital infrastructure, financial inclusion measures and enhanced cybersecurity to ensure its effectiveness.
The Federal Government is yet to make an official announcement on the scope and timeline of the proposed policy.
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