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Nigeria Missing in Africa’s Top 5 Performing Economies of 2013

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Ngozi Okonjo-Iweala, Coordinating Minister for the Economy
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That Africa is set to become the world’s economic engine in the next 10 years or during the 21st century is no doubt a well-known fact.

Unfortunately, Nigeria is not one of the top five. Countries like Malawi, Mozambique, Angola, Ethiopia and Zambia outperform her,.

But that almost all the 54 countries on the continent compete fiercely to be in the top position of the 5 fastest-growing economies in Africa is little known, according to Venture Africa.

Venture Africa said, however, it becomes evident when the names of the top performing economies on the continent changes each year.

According to auditing firm Ernst & Young’s 2013 Competitive Survey, the projected GDP growth from 2012-2017 Malawi tops the list with an expected GDP growth during this period of 7 percent and followed closely by Mozambique at 6.8 percent economic growth.

In the third place is Angola with the projected GDP growth of 6.5 percent in the next six years. Ethiopia’s GDP growth is expected to be 6.3 percent while Zambia is expected to grow its GDP by 6.2 percent.

Despite the negative impact of global economic crises, the size of the African economy has more than tripled since 2000, according to Ernst & Young. The continent also hold bright prospects, with many countries in Africa set to continue recording high economic growth levels in the future.

The cynics will more often than not opine that most of this economic growth is being driven by natural resources. But that is certainly not the case.

According to the International Business Times website, the number of Africans living in the cities has surged dramatically and it could soon surpass that of India, which is considered to be the leader at this stage.

It is believed that in the next 16 years, half of all Africans will be living in the cities. It is also understood that Africa’s middle class is set to be bigger than that of India.

The market influences of the west, which Africa is increasingly approving, are pushing down inflation and reducing sovereign debt.

Intra-African trade is changing on the continent with Africa boasting five growing trade blocs. In total, Africa has a $2 trillion economy, according to the International Business Times.

Underlisted are the top performing economies in Africa.

Malawi
According to the African Economic Outlook, Malawi’s economic growth in 2013 and next year is forecast to bounce back to 5.5 percent and 6.1 percent respectively.
The state has renewed its commitment to credible macroeconomic policies. Good governance has prompted the International Monetary Fund (IMF) to approve a new Enhanced Credit Facility (ECF) programme for the country. This has led to the reopening of donor financial back-up to Malawi.

Mozambique
Mozambique’s steady ramping up of coal production, the implementation of large infrastructure projects and credit expansion are expected to continue to drive growth to 8.5 percent in 2013 and 8 percent in 2014, according to the African Economic Outlook.

The World Bank says the country’s emerging extractive industry could also provide the means for Mozambique to reach the status of a middle-income country by 2025.

Angola
Angola’s economy bounced back robustly after recording sluggish growth due to oil and financial crises.
The Report forecast growth in Angola to rise to 8.2 percent in 2013 and 7.8 percent in 2014 on the back of oil and gas sector expansion. There is also a public expenditure programme made to inspire economic diversification.

Ethiopia
Ethiopia’s economy saw a ninth successive year of vigorous growth last year estimated at 6.9 percent, the African Economic Outlook states.
The growth was driven by a surging role for services and industry. This motion is set to stay until next year.

Zambia
Growth in real GDP moved faster to 7.3 percent last year from 6.8 percent posted in 2011. In the next 24 months, economic growth in Zambia is forecast to stay strong.
In 2012, the economy continued to be strong driven by expansion in agriculture, construction, manufacturing, transport and finance. According to the African Economic Outlook, prospects for the future of the country remain bright.


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ALX Broadens AI Training in Africa

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Pan-African talent accelerator ALX is expanding its footprint and shifting to a fully self-paced learning model to train and integrate young Africans into the workforce, as the global economy reorganises around artificial intelligence (AI).

Partnering with the MasterCard Foundation, the technology training provider and career accelerator designed to equip African talent, says it enables learners to access tech training for $5 a month.

It emphasises a shift in demographics saying that by 2035, more young Africans will enter the workforce annually.

ALX notes that its model has graduated 347,100 learners, with 63% finding employment within six months. Women represent over half of all graduates. To increase flexibility, the organisation emphasises that learning is now entirely self-paced.

“Learners progress through modular blocks, earning credentials as they go, ensuring that the training fits around their existing responsibilities,” says Shana-Michelle Rabonda, Chief Operating Officer of ALX.

Rabonda adds that global employers are taking notice: “We are building a direct pipeline to the global digital economy. When companies look for elite tech talent, they are looking at Africa.”

Due to this demand, firms such as Absa, Stanbic Bank, MTN, and KPMG now employ between 50 and 180 ALX graduates each. Meanwhile, community entrepreneurs have created over 60,100 jobs through AI startups like Signvrse and Edulga.

With Africa’s AI market projected to grow to $16.5 billion by 2030, ALX operates alongside competitors like Moringa School and GoMyCode to secure mindshare.

“With the right skills and networks, young Africans can seize these opportunities,” Rabonda emphasises. “Africa’s youth should not just be consumers of AI; they should be creators shaping innovations that will define the global economy.”


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Swift Network Faces Winding-up Battle over Alleged N115m Debt

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A Federal High Court sitting in Lagos has ordered the advertisement of a winding-up petition filed against telecommunications service provider, Swift Network Plc, over its alleged inability to settle a debt exceeding N115 million.

The order followed an application filed by Optics and Wireless Limited through its counsel, Bimbo Adebayo-Ogunlaja, urging the court to permit the publication of the winding-up petition instituted against the company.

In the petition, Optics and Wireless Limited alleged that Swift Network Plc is indebted to it in the sum of N115,482,302.88, being the outstanding payment for network devices supplied to the telecommunications firm since April 2024.

The petitioner is also seeking the payment of N70,530,062 as accrued interest arising from a loan facility allegedly obtained to finance the transaction between both parties, as well as general damages for breach of contract.

According to court documents, the dispute arose from a series of transactions carried out between April 2024 and February 2025, during which Swift Network Plc, through its procurement officer, allegedly requested the petitioner to manufacture and supply various network devices based on purchase orders issued by the company.

The petitioner stated that payment for the supplied items was expected either immediately after delivery or within 30 days of supply, but alleged that Swift Network repeatedly failed to honour the agreement despite receiving the products.

Optics and Wireless Limited further claimed that it became apparent after the final order for servers in April 2025 that the respondent was either unwilling or unable to settle the accumulated debt.

The petitioner also informed the court that its solicitors, Messrs Zionla Legal Practitioners & Solicitors, subsequently issued a statutory notice of demand dated December 11, 2025, demanding payment of the outstanding sum and accrued interest.

According to the petitioner, all efforts to recover the debt proved unsuccessful, adding that the situation has exposed the company to serious financial challenges and possible legal action from the bank that allegedly granted it the loan facility used to execute the supply contracts.

Optics and Wireless Limited argued that Swift Network Plc is insolvent and unable to meet its financial obligations, urging the court to wind up the company in line with the provisions of the Companies and Allied Matters Act and the Winding-Up Rules.

Among the reliefs sought, the petitioner asked the court to order that Swift Network Plc be wound up by the court and that any voluntary winding-up process involving the company should continue under the supervision of the court.

Justice Lewis Allagoa subsequently adjourned the matter till July 10 for further hearing.

 


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Simba Infrastructure, Galaxy Backbone Partner to Deliver Hosted Unified Communications and Call Centre Solutions Across Nigeria

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Aminu Usman, Profit Centre Head, SIMBA, Dr. Abdul-Malik Suleiman, GM Strategic Partnerships & Regions, Galaxy Backbone Ravi Bajaj, GM Sales SIMBA and Ramatu Buhari, GM Sales, Galaxy Backbone Limited
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Simba Infrastructure Limited, a leading provider of customer experience and communications technology, has entered into a strategic partnership with Galaxy Backbone Limited (GBB), the Federal Government of Nigeria’s ICT infrastructure and shared services provider, to deliver Hosted Unified Communications (UC) and Hosted Call Centre Solutions to organisations across both the public and private sectors.

This collaboration brings together Simba Infrastructure’s deep expertise in converged communication technologies, systems integration, and private-sector engagement with Galaxy Backbone’s trusted government relationships, world-class Tier III and Tier IV data centre infrastructure, and an extensive fibre-optic network spanning 30 states and the Federal Capital Territory.

Together, both organisations will deliver secure, scalable, and cost-effective communication solutions designed to transform how businesses and government institutions engage with customers and citizens.

Under this this partnership, Simba Infrastructure will lead business development efforts within the private sector, delivering tailored Unified Communications and Call Centre solutions aligned with the unique needs of enterprises. Galaxy Backbone, on the other hand, will drive adoption within the public sector, providing secure, locally hosted data centre services that ensure compliance, reliability, and operational efficiency.

Commenting on the partnership, Sanjay Vaswani, Director at Simba Infrastructure said: ”Simba is pleased to mark this first phase of collaboration, with a long-term vision of deploying fully localized, AI-driven technologies that enable developers to build and scale using Naira-based solutions.

“While Aminu Usman, Profit Centre Head at Simba Infrastructure tressed on the fact that partnering with Galaxy Backbone will marks a significant milestone in our mission to deliver innovative, cloud-based communication solutions to Nigerian organizations.

“By combining Galaxy Backbone’s robust infrastructure and strong public sector presence with Simba’s customer-centric approach and technological expertise, we are creating a powerful platform to drive digital transformation and business growth.”

Also speaking, the GM Strategic Partnerships & Regional Business, Galaxy Backbone Limited,  Abdul-Malik Suleiman noted; “Galaxy Backbone remains committed to advancing digital inclusion, secure communication, and reliable ICT services across Nigeria. Our partnership with Simba Infrastructure strengthens our ability to deliver innovative, locally hosted Unified Communications and Call Centre solutions that will benefit both public and private sector organisations.”

This partnership underscores a shared commitment to advancing Nigeria’s digital transformation agenda by equipping organisations with the tools to enhance collaboration, streamline communication, and improve customer experience—while ensuring that critical data remains securely hosted within Nigeria.

 


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