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IFC Tasks African Banks on Risk Management

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Saadia Khairi, vice president and chief risk officer, IFC has said that African banks aspiring to rapid expansion can become more stable and profitable by increasing their focus on risk management systems that will meet the challenges posed by a globally integrated financial sector. IFC is a member of the World Bank Group. 

Speaking after the IFC-sponsored Africa Risk Management Banking Forum, Khairi said that African banks are facing greater risks because of rapid growth, increased lending, and new technologies and sectors, such as microfinance, mobile banking, and housing and agriculture finance. 

“Many banks in Africa are unable to properly measure credit, market, and operational risks and these banks have been building more complex balance sheets. African banks weathered the worst of the 2008 global financial crisis and are taking risk management seriously, but they cannot be complacent. Improved risk governance will help turn Africa’s rapid growth into sustainable growth,” said Khairi.   

IFC launched its Global Risk Advisory Program in 2008 in response to the global crisis to help client financial institutions better understand risk and implement systems to help them weather future shocks. IFC focusses on all aspects of sound risk management, including risk governance, market risk, liquidity risk, credit risk, operational risk, asset liability management, and capital adequacy. 

“One lesson from the 2008 crisis is that all of these risk areas are interconnected and that one type of risk can often be transformed into another type,” said Khairi.

“Improved risk management is essential in Africa, where lending volumes are hitting record highs.

The African Risk Management Banking Forum, an event hosted by IFC and This is Africa, a Financial Times publication, brought together senior banking executives, regulators, and academics to discuss risk management issues and help African financial institutions understand, formulate, and implement effective risk management strategies and processes.

Since 2009, IFC has held 150 risk management financial sector workshops and conferences in
36 countries around the world. IFC’s Investment Services offer long-term financing and guarantees, often in local currencies, helping strengthen the financial infrastructure in emerging markets. 

The Cape Town event was support by UKAID, Japan, IFC’s Access to Finance Business Line, and IFC’s Conflict Affected States in Africa Initiative (CASA) and its partners Ireland, the Netherlands, and Norway.


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NITDA Inaugurates Regulatory Sandbox Team to Drive Digital Innovation

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National Information Technology Development Agency (NITDA) has intensified efforts to foster a more enabling environment for innovation by inaugurating a Technical Working Group (TWG) aimed at strengthening regulatory collaboration and advancing a coordinated sandbox framework for Nigeria’s digital economy.

NITDA Inaugurates Regulatory Sandbox Team to Drive Digital Innovation

Group photograph of the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, CCIE, represented by the Acting Director of Regulation and Compliance, Barrister Emmanuel Edet, with the newly inaugurated members of the Technical Working Group (TWG) for the National Regulatory Sandbox, at the Agency’s Corporate Headquarters in Abuja.

Speaking at the inauguration, the Director General of NITDA, Kashifu Inuwa, represented by the Acting Director of Regulation and Compliance, Barrister Emmanuel Edet, emphasised the critical need for stronger cross-agency cooperation to address structural regulatory challenges that often hinder the pace of innovation.

Inuwa noted that members of the Technical Working Group were deliberately selected based on their strategic institutional roles and capacity to contribute practical solutions tailored to the evolving realities of Nigeria’s digital ecosystem.

He explained that while regulatory agencies have legitimate and clearly defined mandates, the increasing complexity of digital technologies requires greater institutional alignment and collaboration to ensure regulatory frameworks support, rather than constrain, innovation.

“As government institutions, our core responsibility is to provide solutions to the challenges faced by Nigerians. The issue is not a lack of commitment, but a structural one. Regulators often operate in silos while implementing their mandates, and in today’s digital environment, that model presents significant limitations,” he said.

The NITDA Director General observed that the rapid expansion of the digital economy continues to outpace conventional regulatory systems, creating gaps that can inadvertently delay or obstruct the deployment of innovative solutions capable of improving livelihoods and driving national development.

To address these challenges, he said the Agency is championing a multi-agency regulatory framework designed to bring regulators together, foster understanding of overlapping mandates, and collectively develop adaptive mechanisms that create room for innovation while maintaining effective oversight.

Central to this strategy, Inuwa explained, is the adoption of regulatory sandboxes—controlled environments where innovators can test emerging technologies and solutions under the supervision and guidance of relevant regulatory authorities.

“Our guiding principle is that we learn by doing. Through these sandboxes, regulators can contribute to building safe spaces where innovation can be nurtured, tested, and scaled for the benefit of Nigerians,” he added.

He further reassured stakeholders that the initiative is not intended to weaken or override any agency’s statutory powers, but rather to improve coordination and build a more responsive regulatory ecosystem capable of keeping pace with technological advancement.

According to him, stronger inter-agency collaboration is essential to ensuring that Nigeria remains competitive in the global digital economy and fully harnesses innovation as a driver of inclusive economic growth and national prosperity.

Inuwa expressed optimism that the Technical Working Group would serve as a strategic platform for shaping forward-looking regulatory solutions while advancing NITDA’s broader vision of repositioning the Agency as an ecosystem orchestrator committed to enabling digital transformation and sustainable national development.

Presenting an overview of the National Regulatory Sandbox, the National Coordinator of the Office for Nigerian Digital Innovation (ONDI), Victoria Fabunmi, said the initiative is designed to provide a structured, legal, and multi-agency framework that enables innovators to test emerging technologies under regulatory supervision before obtaining full market approval.

According to her, despite rapid advancements across sectors such as Artificial Intelligence, fintech, health technology, and blockchain, innovators continue to face significant challenges due to siloed regulations, fragmented approval processes, and the absence of coordinated mechanisms for testing new technologies.

Fabunmi noted that while Nigeria’s digital economy continues to witness remarkable growth, the lack of harmonised regulatory engagement has often delayed innovation and increased uncertainty for startups and technology-driven enterprises.

Describing the National Regulatory Sandbox as more than just a digital platform, she explained that it is fundamentally a governance and legal framework aimed at creating an enabling environment where innovation can thrive responsibly.

Unlike traditional sandbox models often associated primarily with financial services regulation, Fabunmi said Nigeria’s approach is intentionally sector-agnostic, allowing regulators from multiple sectors—including agriculture, digital health, mobility, clean energy, and digital public infrastructure—to collaborate in supporting innovative solutions.

Under the framework, startups and innovators will be able to engage multiple regulators simultaneously within a controlled testing environment, reducing bureaucratic bottlenecks and significantly shortening time-to-market for emerging solutions.

She added that the sandbox will also generate shared, evidence-based regulatory insights, enabling participating agencies to make informed decisions collectively and develop adaptive policies that support responsible innovation.

The inauguration of the Technical Working Group marks another significant step in NITDA’s efforts to build a more agile, collaborative, and innovation-friendly regulatory environment—one that aligns with Nigeria’s broader ambition of becoming a leading digital economy in Africa.


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WHO Says Ebola Risk Now at Highest Level

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World Health Organisation (WHO), yesterday, said that Ebola outbreak is “very high” but added that the global risk remains “low”.

WHO Says Ebola Risk Now at Highest Level

So far, 82 cases and seven deaths have been confirmed in the Democratic Republic of Congo (DRC), but WHO, said, the real scale of the outbreak is likely far larger, with nearly 750 suspected cases and 177 suspected deaths reported

Tedros Adhanom Ghebreyesus, chief, WHO, said the situation was “deeply worrisome”.

He said there were now nearly 750 suspected cases in the DR Congo and 177 suspected deaths, as health workers scramble to track down contacts of everyone thought to be infected with the virus.

“The Ebola outbreak in the Democratic Republic of the Congo is spreading rapidly,” he told a press conference.

“So far, 82 cases have been confirmed in DRC, with seven confirmed deaths.

“But we know in people who travelled from DRC and one death.

Measures to address the epidemic in DRC are much larger.

There are now almost 750 suspected cases and 177 suspected deaths.”

He said the situation in Uganda was “stable”, with two cases confirmed in Uganda, including “intense contact tracing” and calling off the Martyrs’ Day commemorations, “appear to have been effective in preventing the further spread of the virus”, Tedros added.

While a US national who was working in the DRC has tested positive and been transferred to Germany for care, Tedros said another US national deemed to be a high-risk contact had been transferred to the Czech Republic.

Besides national staff already in the DRC, he said 22 international staff had been deployed to the field, “including some of our most experienced people”.

Tedros said that violence and insecurity were impeding the response to the outbreak in the DRC.

“We are now revising our risk assessment to very high at the national level, high at the regional level, and low at the global level.

“So far, 82 cases have been confirmed in DRC, with seven confirmed deaths.

“But we know the epidemic in DRC is much larger. There are now almost 750 suspected cases and 177 suspected deaths.

“The situation in Uganda is stable, with two cases confirmed in people who travelled from DRC, with one death.”

Tedros said that violence and insecurity were impeding the response to the outbreak.

 

 


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Airtel Africa Launches $110m Share Buyback Programme for Capital Efficiency

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Airtel Africa Plc has announced a strategic initiative in partnership with Barclays Capital Securities Limited to execute on-market share purchases totaling up to $110 million.

Airtel Africa Launches $110m Share Buyback Programme for Capital Efficiency

This initiative will be divided into non-discretionary and discretionary segments, marking a proactive step in optimizing the company’s capital structure and enhancing shareholder value.

In a statement released on the Nigerian Exchange and signed by Simon O’Hara, group company secretary, Airtel Africa described this share buyback program as a key component of its broader strategy to return cash to shareholders.

It noted that the program aims to repurchase up to one percent of the company’s issued share capital as of the date of this announcement.

“This decision by the Board reflects the organization’s strong financial position and its commitment to maintaining flexibility while continuing to invest for growth across its markets.

“The initial phase of the program will see Airtel Africa collaborating with Barclays Capital Securities to facilitate the purchase of its ordinary shares,” the statement noted.

According to Airtel Africa, the agreement features two key components operating concurrently: a non-discretionary segment allowing Barclays to purchase up to $60 million of ordinary shares independently of the company, and a discretionary segment where Airtel Africa can guide Barclays in purchasing an additional $50 million, adhering to the regulations set forth by the Market Abuse Regulation (EU) No 596/2014.

“The program is set to commence today and is expected to conclude by November 27, 2026, unless terminated earlier under the agreement’s terms. Airtel Africa has signaled that as the initiative progresses, further tranches may be announced to achieve its objective of repurchasing up to one percent of its issued share capital.

“The primary aim of this buyback program is to streamline the company’s capital. Accordingly, all shares purchased will be cancelled, contributing to a more efficient capital structure. Any transactions will be performed in alignment with pre-defined parameters outlined in the agreement with Barclays and comply with the authority granted by shareholders for share repurchases.”

At the annual general meeting on July 9, 2025, shareholders authorized the company to buy back a maximum of 366.073 million ordinary shares.

Following the previous buyback program, the remaining authority now stands at a maximum of 357.042 million ordinary shares, demonstrating ongoing support from shareholders for these initiatives.


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