General News
IFC Supports $400m Seven Energy Bond Issuances for Nigeria

IFC, a member of the World Bank Group, has subscribed to $50 million of notes in the inaugural bond issuances by Seven Energy International Limited, one of the few companies developing and commercializing stranded gas that is critical for expanding Nigeria’s power generation.
Seven Energy is Nigeria’s first unlisted oil and gas company to tap the international capital markets.
The company’s bond issuances raised a total of $400 million. Part of the proceeds will fund the construction of the Oron‐Calabar pipeline which will provide much needed gas for power projects in the city of Calabar in southeastern Nigeria.
“Seven Energy welcomes and values the continued support of IFC in the development of its business in Nigeria. Seven Energy’s objective is to be Nigeria’s dominant integrated gas developer and supplier, with a reputation for reliability and operating to the highest international standards,” said Phillip Ihenacho, CEO, Seven Energy.
Lance Crist, IFC global head of Oil and Gas, said, “This inaugural bond complements Seven Energy’s funding strategy as it expands operations to help address Nigeria’s urgent energy needs. It has also attracted a new class of investors to the sector, showcasing the critical role of capital markets in connecting international and domestic savings to a country’s private sector financing needs.”
Earlier this year, IFC made an equity investment of $75 million in Seven Energy. The IFC African, Latin American and Caribbean Fund also invested $30 million in equity in the company.
IFC’s investment in Seven Energy supports the World Bank Group’s Nigeria Energy Business Plan to double power capacity in Nigeria within 5 years by addressing all points of the energy value chain. IFC is also working on a wide range private sector projects in Nigeria’s gas supply, power generation and distribution sectors.
As part of its efforts to support the development of capital markets, IFC helps private sector companies in emerging markets to access international and domestic bond markets.
General News
More 14m Farmers to Benefit from AfDB-backed Initiative

Additional 14 million farmers in 37 low-income and vulnerable countries served by the African Development Fund, the Bank Group’s concessional financing window, are set to benefit from a technology initiative targeted at scaling up climate-resilient food production across the continent.

This comes after the African Development Bank Group (AfDB) and the International Institute of Tropical Agriculture (IITA) signed a $16.61 million grant agreement to launch the third phase of the Technologies for African Agricultural Transformation Programme (TAAT-III)
TAAT-III, funded by the African Development Fund, is expected to consolidate earlier gains benefiting 14 million more farmers while introducing a more sustainable, private sector-driven delivery approach.
AfDB said the initiative aims to reinforce seed and technology distribution systems, deepen partnerships with governments and agribusinesses, and expand the digital tools, including its technology e-catalogues and real-time monitoring platforms, to speed up deployment of high‑impact solutions.
Simeon Ehui, director general of IITA, commented: “TAAT-III allows us to deepen the delivery of science‑based solutions that improve farmers’ yields and livelihoods. Working with the Bank and our partners, we are scaling technologies that make Africa’s food systems more resilient and competitive.”
Since its launch in 2018, TAAT has become one of Africa’s most effective and transformative platforms for agricultural innovation, reaching nearly 25 million farmers and boosting productivity across major staples.
The initiative has expanded climate-resilient agricultural practices across over 35 million hectares.
In a statement, the AfDB said working closely with the Consultative Group of International Agricultural Research Centres and national and regional partners, TAAT has increased crop yields up to 69% and generated more than $4 billion in additional agricultural value.
Countries including Sudan, Ethiopia, Zambia, Zimbabwe, and Nigeria have recorded notable gains in staple crop productivity and resilience to climate shocks.
Nigeria has been a key beneficiary of TAAT initiatives. Under its Wheat Compact, farmers adopting improved heat-tolerant varieties more than doubled yields from 1.7 tons per hectare to 3.5 tons per hectare.
Programme supported seed system assessments also helped inform national reforms to expand access to certified, climate-resilient seeds.
Speaking at the signing ceremony, Abdul Kamara, director general of the Bank Group’s Nigeria Country Department, said the new phase will focus on scaling innovation more rapidly
Kamara said: “TAAT-III underscores the Bank’s commitment to ensuring that proven, climate-resilient agricultural technologies reach farmers faster and at scale. This phase strengthens the systems that deliver innovation, helping countries boost productivity, enhance resilience, and align agricultural transformation efforts with the Bank’s four new areas of emphasis, dubbed the Four Cardinal Points.”
General News
Newmark Webinar Explores How AI Could Transform Healthcare in Africa

A recent webinar hosted by the Newmark Group examined how Artificial Intelligence AI is changing healthcare across Africa, highlighting both its promise and its risks.

Newmark
The session, titled “AI in Healthcare: Opportunities and Challenges,” brought together healthcare and communications experts who agreed that AI can help fix long-standing problems in Africa’s health systems — but only if it is used carefully and responsibly.
Gilbert Manirakiza, CEO of Newmark Group in his opening speech said that AI is already helping speed up decision-making. He said AI tools can quickly analyse patient feedback, monitor conversations online, personalise health messages for different audiences and reduce delays in approvals.
He noted that many patients now turn to AI tools like ChatGPT to ask about symptoms and treatments. Because of this, he said health communicators must take responsibility for ensuring accurate information is available.
“If AI makes mistakes in healthcare, the consequences affect real lives,” he said.
Manirakiza stressed that Africa’s healthcare environment is unique. Many communities rely on mobile phones, speak different local languages and trust religious or community leaders. He warned that AI systems built mainly with Western data may misunderstand African realities.
He summarised his position simply: AI should help speed up work, but humans must ensure accuracy.
Daniel Marfo spoke about how AI is already being used in practical ways. Insurance companies now use AI systems to process thousands of claims daily. In hospitals, electronic medical records can suggest possible diagnoses and help doctors decide which patients need urgent attention.
He also said AI tools are helping detect problems in X-rays and MRI scans faster, especially in places where there are few radiologists. This reduces waiting time for patients.
At a national level, countries such as Rwanda, Sierra Leone and Ghana are building health data centres powered by AI to help governments track diseases and plan better responses.
However, Marfo warned that AI tools must be built using local medical guidelines to gain doctors’ trust. He emphasised that AI should support doctors, not replace them.
Dr. Afriyie Bempah focused on how AI can help countries prepare for health crises before they happen. He said resilience is not just about recovering from shocks, but about predicting them early.
He cited examples such as Kenya using AI to track mosquito patterns to predict malaria outbreaks, and Ghana using digital tools to improve disease reporting. In South Africa, digital health systems have been adapted to manage patients with chronic illnesses remotely.
He explained that linking clinics, pharmacies and supply chains through data sharing can help detect disease trends early and prevent large outbreaks.
During the question session, speakers discussed challenges such as data privacy, incorrect AI outputs, biased systems, and resistance from some healthcare workers.
They recommended clear rules for AI use, fact-checking AI-generated information, and creating internal review teams to monitor its application.
In their closing remarks, the panel encouraged healthcare professionals to learn how to work with AI tools to improve efficiency. They also urged young Africans to see healthcare technology as a major opportunity for innovation and investment.
The webinar concluded that AI is here to stay in healthcare. But its success in Africa will depend on strong regulation, local adaptation and continued human oversight — especially in a sector where mistakes can cost lives.
General News
Conoil Bonanza Winners Emerge

Conoil Plc is spreading joy this Valentine season as the first group of winners in its Valentine Bonanza promotion have been announced and rewarded. Launched on February 14, the campaign continues to delight customers at participating retail outlets.

The initial raffle draw, conducted on February 21, saw fortunate customers receive ₦10,000 worth of free petrol each. The draw was carried out publicly, with media representatives present to ensure full transparency. With the promotion still ongoing, more customers have the opportunity to join in and potentially be among the next winners.
A Conoil Management spokesperson explained that the initiative is a way to show appreciation to loyal customers for their ongoing support. “Our customers have responded impressively to the bonanza, with strong participation recorded across our stations,” the spokesperson said.
The second and final phase of the promotion is now in motion. Customers who purchase at least 10 litres of petrol at any participating Conoil station remain eligible to win in the grand finale raffle.
The grand finale is set for February 28 at 12 noon. Motorists in Lagos and Ogun states are encouraged to visit Conoil outlets to collect their tickets and take part in the exciting conclusion of this Valentine celebration.
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