News
Trade Imbalance: Dark Cloud Hangs over Nigeria, SA Relations

Like a wild wind, South African companies have completely overrun Nigeria leaving the country and its nationals at the outskirt of the economy seen as one of the largest and most financially rewarding on the African continent, Nigeria CommunicationsWeek can now reveal.
The reverse is the case in South Africa as Nigerians and their businesses suffer discrimination and exclusion.
South Africa’s invasion and resultant control of the economy was helped by Nigeria’s desperation for foreign investments and hasty opening up of the sectors before the right conditions are present.
Nigeria CommunicationsWeek gathered that unlike South Africa, there is currently no restriction on foreign nationals or foreign entities doing business in Nigeria as they are only required to incorporate a local vehicle registered with Nigerian Investment Promotion Commission (NIPC) before commencing business.
But in South Africa, there have been reports of how South African authorities insist on stringent measures against Nigerian businesses.
For instance, Main One, a trans-Atlantic submarine fibre-optic cable network promoted by Main Street Technologies was reportedly denied landing on the ground that nationals of the former apartheid enclave do not have controlling shares in the company.
Seizing the opportunities presented by Nigeria’s lax environment, South African entrepreneurs who have built up capacities (technical, financials and other know-how) during the prolonged apartheid regime started heading to Nigeria in the mid 90s.
Unlike their home country with a little over 47-million people, the market in Nigeria with more than 150 million people is still largely untapped.
Nigeria CommunicationsWeek gathered today, from information and communications technologies (ICTs), shopping, tourism, construction, energy, aviation, entertainment to revenue collection, South African firms are in control.
In South Africa, apart from hundreds of Nigerian expatriates in that country’s schools, hospitals, manufacturing firms, there is no record of Nigerian businesses.
Even the ballot papers used in the 2007 general elections in Nigeria were printed in South Africa.
The bad news is that rather than enjoy the benefits of the influx of the foreign companies, Nigerian economy is under pressure as the foreign firms determine what to produce and at what price Nigerians must buy.
Most of the foreign businesses are also perversely established as portfolio investment in paper assets that could quickly flow back out of the country.
Patrick Omokhidion, a security adviser said, “the security and economy implication will be far reaching at the end of the day.”
He said further “if South Africans suddenly withdraw from the country, Nigeria will be worse than Somalia, recall what happened to Asian countries when some portfolio investors left overnight.”
Nigeria CommunicationsWeek gathered that the control of country’s economy by the South Africans started sore-footedly at the end of the obnoxious apartheid regime in 1994 and has over the last 11 years turned to an invasion.
Nigeria’s notoriety as haven for scams, worsening human rights records and one of the world’s most corrupt nations did not deter the aggressive South Africans. Not even the dearth of infrastructure.
The South Africans have been painstaking and deliberate in choosing the sectors they are dominating now. The sectors they play in are all essential.
Tola Awe, a public affairs commentator, said that South Africans are filling the voids left by Nigeria’s heartless and visionless administrators with fixation for accumulation of wealth for their children unborn.
But who will blame the South Africans who have kept faith with Nigeria as the Western world, shocked by the brazen pillage of Nigeria by its own citizens shunned the largest country on the African continent. Successive military rule and record of policy summersaults did not help matters.
Suddenly realizing that bilateral relations between the two countries are skewed in favour of the South African, Nigeria is now crying foul.
But as Nigeria cry, South African entrepreneurs smile to the banks here while there were little or no opportunities for Nigerians to do real business in the opposite direction.
Goodluck Jonathan, acting President was even more vocal November last year at celebrations to mark a decade of bilateral ties under the aegis of the Nigeria/South Africa Bi-National Commission (BNC).
“Some Nigerians have questioned the very rationale for the BNC if our relations and the benefits they confer are so skewed and if South African authorities are engaged in alleged acts of discrimination against Nigerian visitors, residents and businesses in South Africa,” he said.
Patiently waiting for Jonathan to finish, Bongi Maria Ntuli, South Africa’s deputy Trade and Industry minister said that Nigeria is her country’s second largest trading partner on the continent.
“As an open economy, we welcome new investment and collaborative partnerships in key areas of opportunity – all uniquely poised to deliver real competitive advantage,” Ntuli said.
BNC, founded a little over 10 years is still dogged by problems of handshake across the borders, visa restrictions and unnecessary bickering.
Since the launch of the BNC, trade between the two African economic giants has leapt from $16.5 million in 1999 to $2.1 billion in 2008.
Nigeria CommunicationsWeek investigations however revealed that the balance of trade is in favour of the South Africans.
Proffering solution, Emmanuel Ekuwem, president, Association of Telecommunications Companies of Nigeria (Atcon) urged the two countries go to the negotiation table and iron out the grey areas in their relationship.
He insisted that there must a symbiotic relationship between the two countries to ensure that Africa’s resources remains in Africa.
“Nigeria economy is the largest economy second to South Africa in the continent, the relationship between the two countries should be win-win, so as Nigeria opens up her borders economy to the South Africans, there must be reciprocity by South Africa,” Ekuwem added.
Most Nigerians agree that the country should get more from the South African businesses which have freely made record profits that are sent back home to subsidize the expensive life style of their promoters.
They are also united that in call for appropriate rules and customs to handle trade between countries or between private companies across borders.
News
UK, Nigeria Launch £15m Growth Programme to Accelerate Economic Transformation

The UK Minister for Africa and International Development, Baroness Jenny Chapman, has concluded a two-day visit to Nigeria, during which she announced a new £15 million Growth Programme, deepened cooperation on digital transformation and health, and visited communities benefiting directly from UK investment on the ground.

The visit, spanning Abuja and Kaduna, underscored the breadth and depth of the UK–Nigeria Strategic Partnership and marked a significant step towards both countries’ shared priorities.
The UK–Nigeria Growth Programme
The centrepiece was the meeting with Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele. During their meeting, they discussed the new UK–Nigeria Growth Programme. Over three years, it will accelerate economic transformation, unlock private investment and support Nigeria’s transition from macroeconomic stabilisation to sustained, reform-led growth.
Alongside the Growth Programme, the UK announced deeper collaboration on Nigeria’s digital economy through the SPRIRET initiative, delivered under the UK’s Digital Access Programme. SPRIRET will support digital governance reforms across five Nigerian states, reducing regulatory barriers and enabling greater investment and innovation in broadband, digital services and emerging technology.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele said: “We continue to value the UK–Nigeria relationship, one of the most important partnerships for both our countries. Today, that relationship extends beyond traditional ties and now focuses on development, growth, and shared prosperity.
“The UK–Nigeria Growth Programme helps bring this partnership to life—supporting capital market development, technology investment, small businesses, and technical assistance. We look forward to seeing how these opportunities deliver lasting benefits and drive progress for both countries.”
Trade and bilateral ministerial meeting
During the visit, Baroness Chapman met with the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole. Discussions covered progress under the Enhanced Trade and Investment Partnership (ETIP), including boosting exports via the Developing Countries Trading Scheme, fintech and capital markets links.
Kaduna: building on two decades of partnership
In Kaduna, Baroness Chapman met with Governor Uba Sani to take stock of over 20 years of UK–Kaduna partnership and explore how cooperation can deepen shared priorities. She heard from the business community and key institutional investors about their investment aspirations and the role of the UK in supporting investment mobilisation and enabling climate finance.
She met with community animal health workers and livestock breeders to discuss the UK’s support on breeding techniques, animal health and livestock vaccines. She also visited Unguwan Sanusi Primary Health Care Centre, which serves approximately 20,000 people in Kaduna South, hearing directly from patients and frontline health workers about the impact of UK-supported health programmes.
At the end of the visit, the UK Minister for Africa and International Development, Baroness Jenny Chapman, said: “This visit has reinforced everything I believe about the UK–Nigeria partnership.
“That it is deep, it is real, and it is moving in the right direction. From launching our new Growth Programme with Honourable Minister Oyedele, to meeting from frontline health workers in Kaduna — every conversation this week has shown me a country full of ambition and a partnership that is genuinely delivering for both sides.
“Nigeria is a partner that the UK is proud to stand alongside and I leave more convinced than ever that the next chapter of this partnership is its most exciting yet. The UK is here for the long term, and we are ready to grow together.”
News
Mobile Internet Gender Gap Widest in Africa – GSMA

More than 810 million women across low- and middle-income countries (LMICs) remain offline, with Sub-Saharan Africa recording one of the world’s widest mobile internet gender gaps.

According to the GSM Association’s (GSMA’s) Mobile Gender Gap Report 2026, released this week, women in LMICs are still 12% less likely to use mobile internet than men, leaving an estimated 200 million fewer women connected than their male counterparts.
This is despite mobile internet becoming the primary gateway to the digital economy, according to new research from the GSMA.
The report reveals that of the 810 million women who remain offline globally, more than two-thirds live in Sub-Saharan Africa and South Asia −regions that continue to experience the widest disparities in digital access.
The findings highlight significant implications for Africa, and the challenges facing governments, mobile operators and development agencies seeking to expand digital inclusion.
The report notes that Sub-Saharan Africa’s mobile internet gender gap stands at 26%, second only to South Asia’s 25%. The divide becomes even more pronounced outside major cities.
“In LMICs, the gender gap in mobile internet adoption tends to be two to three times wider in rural areas than urban areas. In 2025, across all LMICs, the gender gap in mobile internet adoption was more than three times wider in rural areas than in urban areas.
“There is also a difference at the regional level, where the gender gap in mobile internet adoption is wider in rural than urban areas of LMICs in every region except Europe and Central Asia.”
For Africa, the rural challenge is particularly severe, the report warns.
The GSMA found that the gender gap in mobile internet adoption reaches 34% in rural areas of Sub-Saharan Africa, compared to 21% in urban centres.
Device challenge
Smartphone ownership remains a major obstacle to digital inclusion. The report found that women across LMICs are 13% less likely to own a smartphone than men, representing approximately 210 million fewer women with access to internet-enabled devices.
Across Sub-Saharan Africa, only 34% of women own smartphones, with the region recording a smartphone ownership gender gap of 22%, with access to internet-enabled devices remaining one of the most important factors influencing whether women eventually adopt mobile internet services.
“The type of mobile device a person owns matters, as it typically affects whether and how they use the internet. Once someone owns a smartphone, they are much more likely to be aware of mobile internet, adopt it and use it regularly and in a variety of ways. In fact, once women own a smartphone, these metrics more closely resemble those of men,” notes the report.
Barriers persist
Despite growing awareness of mobile internet and its benefits, women continue to face multiple barriers to meaningful participation in the digital economy.
The report identifies affordability, literacy and digital skills as the leading barriers preventing women from getting online.
Even after gaining access, women frequently report safety and security concerns, data costs and connectivity quality as obstacles to broader internet use.
The report notes: “Addressing rural gender gaps is essential to advancing digital inclusion for women overall. In particular, women who live in rural areas tend to have limited physical access to essential services and may have the most to gain from better access to mobile and mobile internet.
“Addressing gender gaps in mobile ownership, particularly of smartphones, and in mobile internet use can help women in rural areas benefit from these digital technologies to the same extent as men.”
Claire Sibthorpe, head of digital inclusion at the GSMA, warns that progress is not happening quickly enough and emerging technologies such as artificial intelligence risk creating new forms of digital exclusion.
“While there has been a slow narrowing of the mobile gender gap since 2022, much more is needed to address the persistent and significant gender gaps in mobile internet adoption and use.
“We live in an increasingly digital world and the proliferation of technologies such as AI are creating greater digital divides and inequities, elevating the need to ensure digital inclusion for all.”
News
Payaza Secures ‘A’ Credit Ratings from Moody’s, Agusto, DataPro, Intelligence Africa

Payaza Africa, a payments infrastructure company, has earned strong credit ratings from four major rating agencies, reinforcing its growing reputation as a resilient and credible player in Africa’s financial services ecosystem.

The payment company recorded upgrades across the board, with DataPro raising its rating from A to AA-, Intelligence Africa assigning it an A- investment-grade rating, Agusto upgrading it from BBB to A-, and GCR, an affiliate of Moody’s, also moving it from BBB to A-.
A credit rating reflects a company’s financial strength and its ability to meet debt obligations, indicating how safe it is for lenders and investors to extend credit.
In a statement on Monday, the company described the achievement as a validation of its disciplined growth trajectory and operational resilience in a dynamic fintech landscape. It added that the upgrades position Payaza as a future-ready brand with increasing relevance not only within Africa but also in the global fintech space.
Commenting on the development, Seyi Ebenezer, the Chief Executive Officer of Payaza Africa, said the ratings reflect years of deliberate effort to build a sustainable and globally competitive institution.
“This milestone is a strong affirmation of the work we have done to build Payaza on a foundation of discipline, trust, and long-term value creation. Receiving these upgraded ratings sends a clear message that Payaza is not only growing, but growing with strength, structure, and sustainability,” he said.
Ebenezer noted that the recognition goes beyond financial performance, highlighting the company’s ability to execute strategically while maintaining strong risk management practices.
“For us, this is bigger than recognition. It reflects our commitment to building a world-class institution that can compete globally while continuing to serve businesses and consumers across the continent with excellence.
“Over time, our ratings journey has reflected more than strong financial performance. It speaks to a business built on disciplined execution, prudent management, and the ability to scale responsibly in a dynamic market. This has helped us stand out not only as an innovator in digital payments, but as a maturing financial institution with the operational depth to compete globally.
“These new ratings are expected to further strengthen Payaza’s standing with investors, regulators, partners, enterprise clients, and the wider financial community. In a sector where trust, resilience, and compliance are increasingly central to long-term success, independent ratings remain a powerful endorsement of a company’s ability to manage risk, meet obligations, and sustain growth,” Ebenezer said.
Payaza Africa provides payment infrastructure solutions focused on collections, payouts, embedded finance, and digital commerce enablement for businesses across Africa.
The company has also continued to expand its product ecosystem with solutions such as Payaza Checkout for payment collections and payouts, Chat and Pay by Payaza for WhatsApp-based transactions, Payaza Give for donations and digital contributions, and Shopaza, its e-commerce platform designed to help businesses sell and receive payments more efficiently.
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