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Africa must significantly boost its factoring volumes to at least €240 billion to close the continent’s SME financing gap and drive transformative economic growth, the African Export-Import Bank (Afreximbank) has stated. Speaking at Afreximbank’s annual Factoring Workshop in Abidjan, Mrs. Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development (IAED) and Member of the FCI Executive Committee, highlighted the critical role of factoring and supply chain...
Africa could generate up to $1 trillion in additional Gross Domestic Product (GDP) by 2035 through the adoption of artificial intelligence (AI), according to a new report released by the African Development Bank (AfDB). The report, titled Africa’s AI Productivity Gain: Pathways to Labour Efficiency, Economic Growth and Inclusive Transformation, was developed under the G20 Digital Transformation Working Group and outlines a strategic roadmap for unlocking AI-driven productivity and inclusive economic growth across the...
Africa will require an estimated $375 billion over the next decade to fully develop its upstream and midstream natural gas sector, according to new projections presented by the Society of Petroleum Engineers (SPE) at the MSGBC Oil, Gas & Power 2025 conference in Senegal. With 17 high-impact wells completed this year alone, industry leaders warn that a major wave of investment is critical to meet rising natural gas demand and secure Africa’s role in the...
The African Airlines Association (AFRAA) has announced a major breakthrough for the continent’s aviation sector with the full operational deployment of Free Route Airspace (FRA) across the West and Central Africa (WACAF) region, effective 30 October 2025. The development, which follows successful trials launched in November 2023, marks a new era in African aviation as airlines gain the ability to design and operate User Preferred Routes (UPRs) that...
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