General News
UNCTAD Says Continent-Wide Policy Coherence can Yield Employment, Growth Benefits

Better leveraging of services trade in Africa could yield major employment and growth benefits, the UNCTAD Economic Development in Africa Report 2015 argues, while ongoing negotiations towards a continental free trade agreement offer a unique opportunity to align national and regional policies on services trade to that end.
The report, subtitled “Unlocking the Potential of Africa’s Services Trade for Growth and Development”, and officially launched in Lagos Nigeria, also argues that building continent-wide policy coherence in financial services would boost economic productivity and help reduce poverty.
“Africa must bridge the policy disconnect of services trade in order to unlock the sector’s potential for the continent’s growth and economic transformation,” Mukhisa Kituyi, UNCTAD Secretary-General said.
“Furthermore, the impact of a continent-wide free trade area will only be meaningful for Africa if services are opened up in parallel with trade in goods. This is because services, such as transport and storage services, are necessary components of trade in goods.”
The establishment of a continental free trade agreement, most recently on the agenda at an African Union summit in June 2015, is in itself a unique opportunity for African countries to align their existing national, regional and global policies on services trade, the report argues.
The report finds that many national development plans mention services trade as a vehicle for development but fail to link it to existing regional plans or regulation on services in the context of their regional economic communities.
For example, several countries such as Burkina Faso have become leading exporters of cultural services, and Kenya and Senegal of business process outsourcing, but these sectors are not integrated with the countries’ commitments made at the World Trade Organization.
Another major area identified by the report where African Governments need to make efforts in aligning the existing national, regional and multilateral regulatory frameworks is in the financial services sector.
The report argues, for example, that it is important for African countries to extensively examine how to align their domestic financial sector regulation with existing regional regulation, as some regional economic communities already have some protocols in place covering aspects of financial sector integration and/or investment at the regional level.
This is the case of the Arab Maghreb Union, the East African Community, the Economic Community of West African States and the Southern African Development Community.
These protocols envisage the free movement of capital in their respective subregions and will need to be adequately reflected in national policy and regulation so that financial market integration becomes a reality.
At national level, the report recommends that services trade be adequately mainstreamed into national development plans.
This requires that a policy formulation exercise be informed by country-wide consultations with all the major stakeholders.
At regional level, the report notes that greater coherence could be achieved if a pan-African mechanism is established to allow for the continuous consultation and coordination of a regional agenda and concerns relating to services trade that arise within the regional economic communities and the African Union.
General News
PalmPay Supports Nigeria Police Force National Cybercrime Centre 2025 Cybersecurity Awareness Walk

PalmPay, a Nigerian leading digital banking platform, supported the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) during its Cybersecurity Awareness Walk held in Abuja as part of activities marking the 2025 Cybersecurity Awareness Month.

Themed “Secure Our World,” the event brought together key stakeholders from law enforcement, regulatory bodies, and the private sector to promote public awareness on cybersecurity, financial fraud prevention, and safe online practices.
PalmPay joined other participants in advocating for stronger public vigilance and safer digital engagement, reaffirming its commitment to supporting national efforts that enhance cybersecurity and consumer protection.
Speaking during the event, PalmPay’s Managing Director, Mr Chika Reginald Nwosu, commended the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) for its efforts in combating cybercrime and protecting consumers. He emphasised the need for continued collaboration across sectors to build a safe and secure payment ecosystem for all Nigerians.
“We commend the NPF-NCCC for its proactive leadership in driving cybersecurity awareness,” said Nwosu. “At PalmPay, we are committed to supporting initiatives that promote digital safety and foster trust in Nigeria’s growing digital economy.”
At the event, PalmPay was commended for its outstanding efforts in strengthening regulatory engagement and advancing consumer protection initiatives across the fintech industry.
The partnership underscores PalmPay’s ongoing commitment to promoting cybersecurity awareness, consumer protection, and fraud prevention as part of its mission to create a safer digital financial ecosystem in Nigeria.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
General News
Fidelity Bank Salutes Air Peace for Flying Nigeria’s Flag to Heathrow

Fidelity Bank Plc has congratulated Air Peace on the successful launch of its maiden direct flight from Lagos to London Heathrow, describing the milestone as a significant achievement for Nigeria’s aviation sector and a testament to the power of indigenous partnerships.

The commendation was delivered by Dr. Nneka Onyeali-Ikpe, managing director of Fidelity Bank, during a special event held in Lagos to celebrate the airline’s expansion into the European market.
“This is not just a win for Air Peace, but a win for Nigeria,” Onyeali-Ikpe said. “It reflects the strength of home-grown businesses and the impact of strategic financial support in enabling national champions to thrive on the global stage.”
Nigeria CommunicationsWeek reports that Fidelity Bank has played a pivotal role in Air Peace’s growth, providing early financial backing and advisory services that helped the airline become the largest carrier in West Africa. The bank continues to support Air Peace through payment processing and other financial services
The launch of the London route marks a new chapter for Air Peace, which now joins a select group of African airlines operating direct flights to Heathrow.
The development is expected to boost tourism, trade, and connectivity between Nigeria and the United Kingdom.
Speaking at the event, Allen Onyema, Chairman of Air Peace, expressed gratitude to Fidelity Bank for its unwavering support and reaffirmed the airline’s commitment to excellence and service.
“This partnership has been instrumental in our journey,” Onyema said. “We are proud to fly the Nigerian flag across international skies.”
Industry stakeholders present at the event praised the collaboration between the two companies as a model for sustainable business growth and national development.
General News
After MultiChoice Buyout, Canal+ Eyes Full Ownership of Showmax

Canal+, French media giant, is reportedly eyeing the full takeover of Showmax, the African streaming platform jointly owned with MultiChoice Group.

This followed its recent push to expand across the continent’s digital entertainment market.
The move comes after Canal+ completed its acquisition of MultiChoice to strengthening its hold on Africa’s pay-TV and streaming ecosystem.
With Showmax being a key growth asset under the partnership, industry analysts say a full takeover could give Canal+ end-to-end control of content production, distribution, and subscription revenue in multiple markets.
The acquisition would also align with Canal+’s broader strategy to rival global streaming giants such as Netflix and Amazon Prime Video by leveraging African content demand and localized storytelling.
According to RipplesNigeria, Ayo Balogun, Media and Telecoms Analyst, CardinalStone Partners, while reacting to the move, said: “Canal+’s full acquisition of Showmax would mark a decisive step in consolidating Africa’s digital media value chain.
“With MultiChoice now under its control, Canal+ can fully integrate content, distribution, and streaming into a single monetizable ecosystem—something we’ve not seen before on this scale in Africa.”
Thandiwe Mokoena, Senior Media Strategist, Johannesburg, added: “This move gives Canal+ strategic dominance in both the pay-TV and OTT spaces. It positions them not only as a regional player but also as a continental gatekeeper for premium African content. The competitive pressure on Netflix and Amazon Prime Video in Africa will rise sharply if this takeover goes through.”
Financial markets are closely watching how the potential consolidation could reshape Africa’s media landscape, particularly in terms of valuation, competition law, and licensing rights.
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