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Africa’s Female Fund Managers Receive Boost with Launch of a Multi-Million Dollar Fund

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Standing: Antonio Guterres, UN Secretary-General, (L) and African Union Commission Chairperson Moussa Faki Mahamat, witness the signing of a partnership agreement between UNECA and Standard Bank Group represented by Dr Vera Songwe, UNECA Executive Secretary and Sola David-Borha, the bank’s Chief Executive for African Regions.
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African leaders are putting women front and center of efforts to drive the continent’s economic growth through a game-changing fund that invests in women fund managers and also provides technical assistance.

The launch of the African Women Leadership Fund (AWLF) will provide capital to both first time and experienced fund managers in support of UN Sustainable Development Goals 5 (Gender Equality) and 8 (Decent Work and Economic Growth), and African Union Agenda 2063.

The ground-breaking partnership, formally signed at the weekend in Addis Ababa between the United Nations Economic Commission of Africa (ECA) and Standard Bank Group, will be transformational in breaking down structural barriers to inclusive investing in Africa.

Over $20 million was raised for the fund on Saturday that has a current goal of $100 million. President Paul Kagame of Rwanda was instrumental in leading the way, pledging $500,000. Senegal’s President Macky Sall committed $500,000. South African President Cyril Ramaphosa also pledged to contribute to the fund. The private sector participants pledged the rest.

Prime Minister Justin Trudeau of Canada pledged $10 million to the African Union to boost gender parity. Norway Prime Minister Erna Solberg pledged $8 million to AU initiatives. A portion of these resources will be earmarked for the women’s initiative.

Among the world leaders who witnessed the official launch of this innovative impact investment fund were UN Secretary-General, Antonio Gutteres, African Union Commission Chairperson, Moussa Faki Mahamat, Ethiopian President Sahle-Work Zewde. Former Liberian President Ellen Johnson Sirleaf was also in attendance, as were a number of former African heads of state.

“We are turning the tables and making women the decision-makers of investable money in Africa. We want women to be on the supply side of money, not only on the demand side,” said Dr. Vera Songwe, UN Under-Secretary General and Executive Secretary of ECA. A key goal of the fund is to empower women financial leaders who will drive economic growth, job creation, and create prosperity.

In Africa women-owned funds and businesses struggle due largely to lack of successful fundraising, insufficient exposure to systems and procedures, and lack of track records, among others.  They also contend with gender-based social expectation, resistance to women in leadership roles and lack of a support network. The fund will empower Africa’s women by giving them access to financial resources and investment management expertise.

Sola David-Borha, Chief Executive of Africa Regions at Standard Bank Group, says the fund aligns with the Bank’s purpose to drive Africa’s growth and “presents an opportunity for Standard Bank to leverage our footprint and expertise on the continent, and the relevant experience of our asset management arms, Melville Douglas and STANLIB Multi-Managers, to build Africa’s economies. Africa is our home, we drive her growth”.

Women fund managers will receive a deployment of capital, and subsequently invest in majority female-owned businesses. Even though the fund is sector agnostic, priority sectors will be education, manufacturing, healthcare, clean energy and agriculture. Additionally, technical assistance for fund managers and entrepreneurs will be offered through the initiative. This ranges from building capacity, direct mentoring to leveraging technology in health and education.

Songwe emphasized “The goal here is to give women-led financial investment activities a huge injection of jet fuel to bear out the proven positive correlation between gender balance, higher financial returns and developmental impact.” 

In his remarks, Secretary-General Gutteres said, “power is not usually given, it must be taken.”

 


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DHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu

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Defence Headquarters (DHQ) has made public the full names of 16 officers of the Armed Forces of Nigeria indicted by a Special Investigative Panel over alleged serious misconduct, including an alleged coup plot against President Bola Tinubu.

DHQ Indicts Brigadier General Abubakar Sadiq, 15 Others in Alleged Coup Plot againt Tinubu

The officers suspected to be involved in the coup plot include a brigadier general, a colonel, four lieutenant colonels, five majors, two captains, a lieutenant, a lieutenant commander and a Squandron Leader.

Major General Samaila Uba, director of Defence Information, disclosed this on Monday, stating that the panel had concluded its investigation and established that the affected officers had cases to answer.

According to him, the indicted officers will face a military Court Martial in line with established procedures and existing regulations.

Major Gen. Uba said the probe examined the circumstances surrounding the conduct of the officers and identified actions “inconsistent with the ethics, values and professional standards expected of members of the Armed Forces of Nigeria.”

He stressed that the exercise was purely disciplinary and aimed at preserving internal discipline, cohesion and operational effectiveness, adding that the Armed Forces remain loyal to the Constitution and Nigeria’s democratic order.

  • Brigadier General Musa Abubakar Sadiq (Nasarawa, 44th Regular Course)
  • Colonel M. A. Ma’aji (Niger, 47th Regular Course)
  • Lieutenant Colonel S. Bappah (Bauchi, 56th Regular Course)
  • Lieutenant Colonel A. A. Hayatu (Kaduna, 56th Regular Course)
  • Lieutenant Colonel Dangnan (Plateau, 56th Regular Course)
  • Lieutenant Colonel M. Almakura (Nasarawa, 56th Regular Course)
  • Major A. J. Ibrahim (Gombe, 56th Regular Course)
  • Major M. M. Jiddah (Katsina, 56th Regular Course)
  • Major M. A. Usman (Federal Capital Territory, 60th Regular Course)
  • Major D. Yusuf (Gombe, 59th Regular Course)
  • Major I. Dauda (Jigawa, DSSC 38)
  • Captain I. Bello (DSSC 43)
  • Captain A. A. Yusuf
  • Lieutenant S. S. Felix (DSSC)
  • Lieutenant Commander D. B. Abdullahi (Nigerian Navy)
  • Squadron Leader S. B. Adamu (Nigerian Air Force)

 


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Court Fines Airtel N210m for Unauthorised Use of ‘Nigeria Go Survive’ Song

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Justice Ibrahim Ahmad Kala of the Federal High Court, Lagos, on Monday awarded a total of N210 million in damages against Airtel Networks Limited for copyright infringement arising from the unauthorised use of a musical work titled “Nigeria Go Survive.”

Court Fines Airtel N210m for Unauthorised Use of ‘Nigeria Go Survive’ Song

The award comprises N200 million as general damages and N10 million as costs.
In addition to the monetary award, the court issued mandatory and perpetual injunctions restraining Airtel, its management, agents, servants, privies, successors-in-title and assigns from reproducing or further using the musical work, or any substantial part of it, for advertising, promotion, telemarketing, or other business purposes without the licence or authorisation of the copyright owner.

Justice Kala specifically ordered Airtel to remove “Nigeria Go Survive” from its list of songs used for advertising, business, telemarketing and promotional purposes across its network with immediate effect.

The judge held that Airtel’s use of the song without licence or authorisation amounted to restricted acts under the Copyright Act and constituted an infringement of the plaintiff’s copyright.

The judgment was delivered in suit No: FHC/L/CS/1822/2022, filed by Veno Marioghae Mbanefo, producer of the song.

In resolving the sole issue for determination, the court held that the plaintiff proved her case on the balance of probabilities.

Justice Kala noted that a perpetual injunction is granted after infringement has been established and is intended to protect the proprietary rights of the copyright owner and restrain continued infringement.

Accordingly, the court made the following orders: “That Airtel’s unauthorised use of “Nigeria Go Survive” for advertising, promotion and telemarketing amounts to copyright infringement.
“Mandatory injunction prohibiting Airtel from reproducing or using the musical work, or any substantial part of it, for business and promotional purposes.

“Perpetual injunction restraining Airtel from any further unauthorised use of the work.

“General damages N200 million awarded to the plaintiff for losses suffered as a result of the infringement. And N10 million awarded in favour of the plaintiff, considering the duration of the case, legal representation, expenses incurred, and the current value of the naira.

In the writ of summons filed by her legal team led by Clement Onwvenwunor, SAN, the plaintiff sought, among other reliefs, declarations that Airtel’s use of the song without attribution, licence or authorisation breached her statutory rights under Section 12 of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

She also claimed substantial damages for copyright infringement and, in the alternative, requested an order directing Airtel to render an account of profits allegedly made from the infringement under the supervision of the Nigerian Communications Commission (NCC).

Airtel Networks Limited, represented by counsel led by Babatunde Amoo, urged the court to dismiss the suit.

However, after reviewing the exhibits and submissions of counsel, Justice Kala resolved all issues in favour of the plaintiff.

The court refused the plaintiff’s alternative prayer for an account of profits but granted all substantive reliefs relating to infringement, damages and injunctive orders.


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Tech Executives Double Down on AI, Talent and Adaptive Strategies to Lead in the Intelligence Age

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KPMG’s Global Tech Report 2026 reveals that organisations worldwide are moving beyond pilots and seeking to embed AI into core workflows and offerings, striving to scale investments. The new report identifies that while expectations are high and adoption is rapid; scaling can introduce additional complexity and returns vary widely.

  • 68 percent of organisations surveyed aim to reach the highest level of AI maturity by the end of 2026, yet only 24 percent are there today.
  • 88 percent are investing in building agentic AI into their systems.
  • 74 percent say their AI use cases are delivering business value, but only 24 percent achieve ROI across multiple use cases.
  • 90 percent plan to grow partnerships and tech ecosystems over the next year, yet 53 percent still lack the talent needed to bring their digital transformation plans to life.
  • 78 percent agree they must take more risks on emerging technologies to stay relevant.

The report asks: Can ambition match reality, and can organisations keep one eye on the next wave of innovation while delivering on today’s agenda?

“The future belongs to leaders who turn intelligence into advantage. Our research shows organisations are pushing past the early phase of ‘AI roulette’, placing scattered bets on multiple technologies, and are now increasingly focused on delivering value. When ambition meets disciplined execution, value compounds.

“Our 2026 Global Tech Report provides a synopsis of the critical things that high performers are doing better than most; a checklist for tech leaders looking to improve their organisational performance, emulate the high performers, and deliver higher ROI”. – Guy Holland, Global Leader, CIO Center of Excellence, KPMG International

”As Africa enters the Intelligence Age, the differentiator is no longer access to technology, but the ability to build the skills, governance, and operating models required to scale it responsibly. While organisations are accelerating AI adoption to drive productivity and growth, the real determinant of value lies in workforce readiness, executive alignment, and disciplined execution.

Those that invest early in digital skills, human-AI collaboration, and adaptive leadership will be best positioned to translate innovation into sustainable commercial and economic impact.” – Marshal Luusa, Partner: Technology & Innovation Lead, KPMG One Africa

 Key findings from the report

Tech maturity accelerates: Leaders set their sights on the top

Half (50 percent) of global tech leaders surveyed expect to reach the highest level of technology maturity in 2026, compared to only 11 percent today. This surge in optimism is fuelled by a move from isolated experiments to integrating AI and advanced technologies into core systems and scaling their impact.

High performers, those organisations leading in technology maturity, process maturity and value, are already reaping the rewards, reporting an average ROI of 4.5x, more than double the industry average of 2x. These leading organisations have progressed beyond pilot programs, prioritising the scaling of innovation and continually adapting to maintain a competitive edge in a fast-evolving environment.

Other organisations reporting higher ROI include smaller firms (3.6x), those with fewer cost pressures (2.6x), and transformation‑focused organisations (3.2x). The ROI pattern is equally nuanced: rather than a single investment ‘sweet spot’, clear ROI ‘zones’ emerge, from early quick wins to accelerating, enterprise‑wide value as maturity increases.

The age of agentic: AI adoption surges but innovation drives real business value

AI is now seen as a strategic necessity, not just industry hype. Sixty-eight percent of respondents are aiming for the highest level of AI maturity in their organisations. Eighty-eight percent of companies are already investing in agentic AI – autonomous digital agents transforming operations and decision-making. Seventy-four percent of respondents report that their AI initiatives are creating measurable business value, such as improved efficiency and reduced risk.

However, only 24 percent say they are scaling AI and achieving ROI across multiple use cases. This highlights the need for organisations to evolve KPIs beyond traditional financial and productivity metrics and build enterprise-wide alignment to fully realise AI’s potential.

The shift from AI experimentation to large-scale deployment is underway, with leaders working to embed AI into products, services, and value delivery.

Talent and agility power success: Human potential remains central

Human expertise remains central to digital transformation initiatives. Organisations are making significant investments in upskilling their workforce, building adaptive teams, and fostering cultures that embrace change.

Despite the rapid adoption of agentic AI, organisations still expect 42 percent of their tech workforce to remain permanent human staff by 2027 – only a five‑point drop from 2025.

High-performing companies plan to retain even more permanent human talent, with 50 percent remaining in place by 2027, revealing the continued importance of human expertise alongside AI. Despite these efforts, 53 percent of organisations report they still lack the talent needed to realise their digital transformation strategies.

Ninety-two percent of organisations surveyed anticipate that managing AI agents will become a critical skill within five years. The most successful organisations prioritise both technological advancements and people, empowering employees to innovate and adapt.

Strategic partnerships fuel growth: Ecosystems expand for the future

To overcome challenges and accelerate learning, 90 percent of organisations plan to grow partnerships and tech ecosystems over the next year. Strategic alliances are enabling access to specialised expertise, rapid innovation, and shared best practices.

As agentic AI and other advanced technologies become mainstream, organisations recognise the importance of building robust ecosystems that foster co-creation and continuous improvement. Nearly one-third of tech executives are planning to increase investment in centers of excellence, supporting cross-functional teams and controlled experimentation.

Preparing for tomorrow’s breakthroughs: Leaders embrace bold risks

The future is arriving fast, with quantum computing and Artificial Superintelligence (ASI) on the horizon. Leaders are already preparing for these breakthroughs, with 78 percent of organisations agreeing they must take more risks on emerging technologies to stay relevant.

The report urges organisations to maintain strategic foresight, invest in ethical frameworks, and build resilient, future-ready workforces. By balancing ambition with rational thinking and disciplined execution, tech executives are positioning their organisations to turn disruption into durable, compounding value.


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