Minister tasks Makerere to turn prototypes into market products

The Minister of Science, Technology and Innovation, Eng Jonard Asiimwe Akiiki, has tasked Makerere University leadership to scale up its academic innovations and prototypes into commercially viable products.

Akiiki made the remarks on Wednesday while meeting university leaders as he concluded his three-day maiden visit to the institution.

“We should move beyond saying ‘We developed a prototype,’ to saying, ‘This is who uses it, this is what it saves or earns them, this is who manufactures it, this is how it reaches the market, and this is how it will grow,'” he told management.

“This must become our discipline. Every innovation should be able to name its user, define the problem it solves and show the value it creates,” he added.

He cited Kiira Motors as evidence that Makerere can move ideas into viable products, but said it should not remain the only success story.

“What began as a university research project became a national automotive company (Kiira Motors Corporation) and a manufacturing platform. A source of engineering capability and the Ugandan brand,” he said.

“That journey must cease to be the exceptional story we tell about the past. It must become a repeatable method for the future. Government has invested substantially in Makerere’s research and innovation ecosystem,” he added.

Akiiki said the transition is essential as Uganda targets tenfold economic growth from $50 billion to $500 billion by 2040. The university says government invests about Shs30 billion annually in research and innovation at Makerere.

During a tour of the Makerere University School of Public Health (MakSPH), the minister met researchers working in health data systems, disease surveillance, climate and environmental health, infectious diseases, maternal and child health, and non-communicable diseases.

The researchers presented how their work has informed policy, strengthened national programmes and generated solutions with potential for wider use.

“The way we teach or the way we do research is embedded within the communities. And for us, translation is what we start with when designing the research that we do,” said Prof Rhoda Wanyenze, the Dean of MakSPH.

Speaking on behalf of university management, Prof Anthony Muwagga Mugagga acknowledged the minister’s directives and said they were surprised by several opportunities he highlighted that the institution had overlooked.

“I pledge we shall continue doing more and more (research and innovations). And I am very sure your commandments are going to be like the Mosaic commandments, when you come back next time, please ask us what have we done and what have we not done, but not in the Balaam’s way,” he said.

$700m CVFF: Will NIMASA intervene for contract-less shipowners?

Determined to end more than two decades of delays surrounding the disbursement of the Cabotage Vessel Financing Fund (CVFF), Minister of Marine and Blue Economy, Adegboyega Oyetola, recently directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to work more closely with the 12 Primary Lending Institutions (PLI’s) to disburse the fund to qualified shipowners.

However, many of the fund applications put forward by indigenous shipowners are reportedly failing bank requirement following NIMASA’s revelation that it has received a total of 92 funding applications, with 20 already submitted to the PLIs and only one application was reviewed and forwarded for approval.

Contract issues

Speaking recently at the Nigerian Chamber of Shipping (NCS) Members’ Evening in Lagos, themed: ‘A Public-Private Dialogue: Unlocking Efficiency in the Marine and Blue Economy Value Chain’, Ms Iroghama Ogbeifun, a member of the NIMASA Governing Board and Managing Director of Starzs Investments Company Limited, explained that many applicants are failing the credit assessments conducted by their banks, which hold decisive sway over the approval pipeline.

She stressed that cargo guarantees are vital because they prove future cash flow, assuring lenders that vessels will earn enough to service debt. Ogbeifun admitted that even her own firm could technically struggle to qualify, due to its business model and the rigid bank requirements for long-term cargo contracts.

She noted that the single applicant, whose file is before the minister, should receive the $25 million payout before the end of 2026, adding that subsequent approvals will follow a strict first-come, first-served sequence once conditions are met.

Echoing these concerns, Dr Olisa Agbakoba, Senior Partner at Olisa Agbakoba Legal, noted that the lack of guaranteed cargo actively deters commercial banks from backing otherwise capable shipowners. He urged the NIMASA Governing Board to enforce the cargo reservation provisions of the Cabotage Act to explicitly tie vessel financing to cargo availability, pointing to the United States’ cargo preference framework as a viable model.

Will NIMASA intervene?

Speaking on why banks will demand a valid contract before releasing funds to any shipowner, president of the Nigerian Chamber of Shipping, Mallam Aminu Umar, explained that a valid contract assures the bank of prompt repayment of borrowed loans. In the words of the Sea Transport boss, ‘The demand for a valid contract by banks before releasing the fund is part of the approval process that guides many of the PLI’s disbursement process. The banks have done nothing wrong. It is part of their regulations.

‘The banks can only seek, maybe, the intervention of NIMASA to get waivers for applicants who don’t have valid contracts. The banks are being careful so as not to lose funds. Their stance on possession of a valid contract by indigenous shipowners is due to the fact that they want to be sure they can recover their money back. ‘I know some shipowners applications have scaled through and they are already in the process of accessing the fund. However, for those yet to perfect their papers, I will urge them to do so or seek waivers from NIMASA in order to access the fund.’

On whether the Nigerian Chamber of Shipping will approach NIMASA to grant waivers for indigenous shipowners, who do not have contracts, Umar stated: ‘We cannot appeal to NIMASA to grant waivers automatically for shipowners, who do not have valid contracts. What we can say is that it is possible for NIMASA to look towards that direction.

‘This is something that has to be privately arranged between the shipping company and NIMASA. It cannot be an industry-wide arrangement. That is, it cannot be something that should be arranged for all shipowners in the industry. ‘It is something that NIMASA may look into it from their own perspective, together with the bank, and see if its something they are willing to do.

‘In this regard, the integrity of the shipping company must come to fore. It should not be an arrangement that can be extended to everybody. If NIMASA is willing to go that way, then it has to be between NIMASA, the bank and the affected shipping company. This situation can apply if we have many shipping companies that are not getting the fund.

‘The problem is just that once it becomes public knowledge that NIMASA is granting waivers to some shipping companies that do not have valid contracts, every other person too will say they don’t have valid contracts. So, if it must happen, it has to be between NIMASA, the bank and the shipping company. It cannot be an industry wide arrangement, According to Umar, ‘All this is necessary because the PLI’s must follow the Central Bank of Nigeria (CBN) regulations concerning loan disbursement. It won’t be nice that the loans are granted and repayment becomes an issue. It is the banks that will suffer if this happens.

‘Until we get to that stage, I can only appeal for now that my colleagues in the shipping industry perfect their papers and go make their applications. I am sure they will get the fund.

‘If it is necessary, shipowners can form partnerships to access the fund. If Mr A does not have a particular paper; Mr B might have it. So, shipowners should explore partnerships to access the fund.’

Recall that the CVFF, which has accumulated more than two decades without being accessed by shipowners, is expected to provide low-interest, long-term financing for the acquisition of modern vessels and expansion of indigenous fleets. The initiative is designed to enable Nigerian shipowners to compete more effectively for lucrative coastal and offshore shipping contracts, reduce dependence on foreign vessel operators and retain more value within the Nigerian economy.

SC to Congress: ‘Injustice’ to delay anti-dynasty law

The Supreme Court has directed Congress to finally ban political dynasties, describing its refusal to perform its constitutional duty for the last 39 years as a ‘grave abuse of discretion’ and ‘manifest injustice.’

The high court did not set a timeframe for the enactment of a game-changing law in the country’s political landscape. But one of the petitioners said the ruling should prod the Senate and the House of Representatives to craft and pass an anti-dynasty law before the 2028 national elections.

‘This does not allow Congress to postpone its constitutional duty indefinitely. The Court found that 39 years is beyond a reasonable period to carry out the constitutional command,’ SC spokesperson Camille Ting said in a press conference on Wednesday.

On President Ferdinand Marcos Jr.’s directive, the House on June 3 approved, on third and final reading, an anti-political dynasty measure, but big business and advocacy groups slammed it for seeking to do the opposite – entrenching political families. The Senate has yet to pass its counterpart measure.

Past Congresses have tried but failed in their attempts to craft a law defining and prohibiting dynasties, as mandated by the 1987 Constitution. Studies have shown that dynasties contribute to worsening poverty in some of the poorest areas, as they control the majority of the elective posts.

The multibillion-peso flood control scandal involving senators, congressional representatives, public works officials, and private contractors has fueled calls for the urgent passage of such a measure.

Mandatory duty

Marcos, Senate President Sherwin Gatchalian and Speaker Faustino Dy belong to political dynasties and so do many other members of Congress. In the Senate alone, three pairs of siblings sit.

Ting said the SC en banc unanimously granted the four consolidated petitions for certiorari and mandamus filed by various groups that urged the high court to compel Congress to pass a law that defines and bans political dynasties.

Ting said that the high tribunal cited Article II, Sec. 26 of the 1987 Constitution, which explicitly says that the ‘State shall guarantee equal access to opportunities for public service and prohibit political dynasties as may be defined by law.’

She stressed that the use of the word ‘shall’ in the Constitution means that it ‘does not give Congress a choice whether to prohibit political dynasties.’ Rather, it gives both the Senate and the House authority and affirms their mandatory duty to legislate the issue, she added.

‘The Supreme Court noted that political dynasties have remained widespread and have extended even into the party list system. Despite changes in the composition of Congress over the years, no comprehensive antipolitical dynasty law has been enacted, implying either a lack of interest, avoidance for convenience, or service of self-interest,’ the spokesperson said.

Blanket ban

Ting noted that while there are existing laws restricting political dynasties, the Constitution requires Congress to impose a blanket ban, and on select sectors, as they ‘do not fully satisfy the constitutional command.’

Among the laws addressing political dynasties are the Sangguniang Kabataan Reform Act, the Bangsamoro Electoral Code, and the Bangsamoro Local Governance Code.

The high court explained that its grant of the mandamus petition, a judicial remedy sought in compelling a lower court or a government agency or official in performing a specific duty, was appropriate in ‘highly exceptional case[s]’ even as it usually does not order a coequal branch of government.

It cited the ‘clear showing of grave abuse of discretion and manifest injustice’ in the Congress’ ‘refusal to perform a mandatory constitutional duty.’

‘The Constitution gives Congress no discretion on whether to enact a law prohibiting political dynasties. Its discretion is limited to determining what the law should contain. The specific definition, scope, and other provisions of the law remain for Congress to decide,’ said Ting.

While the high tribunal pressed Congress to carry out its obligation with ‘utmost urgency,’ it did not set a timeframe for the enactment of the law because there is no such provision in the charter.

‘Workable law’ before 2028

Lawyer Rico Domingo, one of the petitioners, welcomed the decision and noted that the absence of a deadline may be due to the high court’s regard for the separation of powers between the judiciary and legislature.

Even so, Domingo, a former president of the Philippine Bar Association, told the Inquirer that the ‘next task is to turn the ruling into an effective legislation’ as lawmakers have sufficient time before the 2028 presidential polls.

‘Congress has enough time before the 2028 presidential elections to deliberate seriously, enact a workable law and allow orderly implementation – provided it acts now. It should settle the coverage, close avenues for evasion, and give the Commission on Elections (Comelec), prospective candidates and voters clear rules well before candidacies are filed,’ he said in a Viber message.

‘Waiting until the election approaches would manufacture the very time pressure lawmakers could later invoke to justify another postponement,’ added Domingo.

Domingo’s co-petitioners were Jorge Cabildo, Ceasar Oracion and Wilfredo Trinidad, who are also lawyers from the University of the Philippines.

Other petitioners were 1Sambayan Coalition, represented by retired SC Associate Justice Antonio Carpio, retired Ombudsman Conchita Carpio Morales, retired military officials, priests, academics; and the Kapatiran Party, chaired by Edilberto Cuenca.

The high court, however, dismissed for ‘lack of merit’ another case seeking to order the Comelec to issue rules banning political dynasties, filed by Bishop Gerardo Alminaza of San Carlos City, Negros Occidental.

Ting said the high court ruled that it could not compel the poll body to release implementing rules disqualifying or nullifying the candidacies of certain candidates because there is currently no law defining the prohibition on dynasties

Castro: Sara Duterte camp’s inattention leaves VP ‘clueless’

Palace press officer Claire Castro on Thursday said the lack of attention from Vice President Sara Duterte’s camp may explain why the vice president appears ‘clueless’ about the administration’s programs.

The remarks came after Duterte’s new spokesperson, Salvador Paolo Panelo Jr., said Castro was not a factor in his appointment and that he had no intention of going head-to-head with her over every statement, as he only needed to address serious criticisms. Panelo also described Castro as someone who is ‘hard to take seriously.’

For Castro, however, Panelo’s remarks were an ‘admission’ that the Duterte camp was not listening to what she was saying.

The Palace official stressed that the press briefings held almost every day with reporters not only answer their questions but also discuss government initiatives for the public.

‘Ngayon natin nakitang may pag-amin na hindi sila nakikinig sa ating sinasabi kaya marahil ito ang dahilan kung bakit ang Bise Presidente ay nagmumukhang clueless, walang alam sa anong ginagawa ng administrasyon para sa ating mga kababayan,’ Castro said.

(We now see an admission that they are not listening to what we are saying, which may be the reason why the Vice President appears clueless and unaware of what the administration is doing for our fellow Filipinos.)

The Palace official said it was the Duterte camp’s loss if they chose not to listen to her. Castro also said the camp regularly claims that the government is doing nothing, adding that she now knows why.

‘Walang panahon na makinig, walang panahon na manood at walang panahong pakinggan nang seryoso ang mga sinasabi especially dito sa briefing-malaking kawalan iyon; kawalan nila iyon, hindi natin kawalan iyon,’ she said.

(They have no time to listen, no time to watch, and no time to seriously consider what is being said, especially here in the briefing-that is a great loss for them; it is their loss, not ours.)

‘At ang mensaheng ito ay hindi para sa mga taong ayaw makinig at ayaw seryosohin ang mga programa ng Pangulo. At aasahan natin ngayon mula sa Bise Presidente at sa kaniyang mga alagad na hindi nila babanggitin ang aking anumang sinasabi kahit na ang aking pangalan o ang aking posisyon aasahan nating hindi na nila babanggitin; pati sa kanilang isipan ay hindi nila iisipin ang aking pangalan, ang posisyon at ang aking lahat ng sinasabi,’ she also said.

(And this message is not for people who refuse to listen and refuse to take the President’s programs seriously. We can now expect the Vice President and her allies not to mention anything I say, including my name or my position. We expect them not to mention me anymore-not even to think about my name, my position, or anything I say.)

When asked to comment on Panelo’s observation that he found it difficult to take her seriously, Castro left it to the public to judge what the spokesperson meant by the comments.

‘Kayo mag-isip, may paggalang ba o walang paggalang? Nasa attitude, nasa character. Magandang salita pero sa kaila-ilaliman niyan mababasa ninyo kung ano ang nilalaman,’ she said.

(You be the judge-was there respect or disrespect? It comes down to attitude and character. The words may sound good, but if you look beneath the surface, you can read what is really behind them.)

Is this serious?

Castro also dismissed Panelo’s remark that Duterte is ready to replace President Ferdinand Marcos Jr. should the latter resign.

‘Normal at natural ito sa mga kaalyado at alagad ng Bise Presidente, pero kung kakayanin niya sa ngayon na pumalit kay Pangulong Marcos Jr., seryoso ba ito?’ she further inquired.

(This may be normal and natural for the Vice President’s allies and followers, but if she were to take over from President Marcos Jr. now, would she really be serious about it?)

Castro just reiterated her Wednesday’s response to calls for Marcos to resign: ‘Kahapon ko pa po sinabi, iti s absolutely delusional.’

Six countries offering 10-year multiple-entry visas to travellers

For frequent international travellers, a long-validity multiple-entry visa can eliminate the need to apply for a new visa before every trip.

However, a 10-year visa does not necessarily mean the holder can stay in a country for 10 years. In most cases, it only determines how long the visa can be used for repeated travel, while immigration authorities set the permitted length of each stay.

For Nigerians, the options are more limited than online lists may suggest. The United States, for example, currently gives Nigerian nationals B1/B2 visas with one entry and three months’ validity, following a 2025 change in its reciprocity policy.

Here are countries with documented 10-year multiple-entry visitor visas, including where the option applies to Nigerians and where it is restricted to certain nationalities or applicants.

1. United Kingdom

Nigerians can apply for the UK’s Long-term Standard Visitor visa, available with validity periods of two, five, or 10 years.

The 10-year visa permits multiple visits throughout its validity period. However, it does not allow the holder to live in Britain for 10 years. A Standard Visitor can generally stay for up to six months on each visit.

Applicants must show a genuine need to visit the UK regularly and meet the requirements for a visitor visa.

2. Canada

Canada may issue visitor visas as multiple-entry visas valid for up to 10 years.

The Canadian government states that an immigration officer determines the actual validity period, which may be shorter. The visa can also expire earlier if the holder’s passport or biometrics expire.

A multiple-entry visa allows travellers to visit Canada repeatedly while it remains valid. Most visitors are normally allowed to stay for up to six months per visit, although a border officer may authorise a different period.

For Nigerians: Yes, but a 10-year visa is not automatic.

3. Mexico

Mexico offers a Long-Term Visitor Visa valid for up to 10 years.

The visa permits multiple entries, with each visit generally allowing a stay of up to 180 days. It is available to foreign nationals who require a visa and meet the applicable requirements.

Mexico lists eligible categories including frequent travellers, applicants with sufficient economic solvency, prominent individuals and certain family members of Mexican citizens or residents.

For Nigerians: Potentially yes, provided the applicant meets the relevant requirements.

4. Brazil

Brazil allows visitor visas with a validity period of up to 10 years where reciprocal arrangements apply.

According to the Brazilian Federal Police, a visit visa is generally valid for one year and permits multiple entries. However, its validity can extend to 10 years where reciprocity arrangements apply.

The 10-year validity is therefore not a standard option available to every foreign national.

For Nigerians: Applicable validity depends on Brazil’s reciprocity arrangements with Nigeria, so applicants should confirm current requirements with the Brazilian mission before assuming they qualify for a 10-year visa.

5. United States – for some nationalities, but not currently Nigerians

The United States issues 10-year B1/B2 visitor visas to nationals of certain countries, but visa validity is determined by nationality under the U.S. visa reciprocity system.

For instance, U.S. reciprocity schedules provide for 120-month, multiple-entry B1/B2 visas for nationals of countries including China and Brazil.

Nigerian nationals, however, currently do not receive the same 10-year validity. The U.S. reciprocity schedule for Nigeria lists B1, B2 and B1/B2 visas as one-entry visas with three months’ validity.

For Nigerians: No, under the current reciprocity schedule.

6. China – 10-year visas for certain nationalities

China has entered into reciprocal arrangements that allow nationals of certain countries to obtain long-term multiple-entry visas.

For example, China and the United States have agreements providing tourist and business visas valid for up to 10 years for each other’s citizens. China and Canada also have reciprocal arrangements providing multiple-entry visas valid for up to 10 years for business, tourism, and family visits.

The 10-year option is therefore dependent on nationality and bilateral agreements rather than being a standard visa available to all foreign nationals.

I have a teacher, can now campaign in Yoruba language – Rhodes-Vivour

Lagos State governorship hopeful Gbadebo Rhodes-Vivour has said he can now campaign in Yoruba after hiring a teacher to help him improve his command of the language.

Rhodes-Vivour, who is seeking the African Democratic Congress governorship ticket ahead of the 2027 election, made this known during an interview on Arise TV on Thursday.

Speaking about the importance of language and culture in Lagos, he said he had taken steps to learn Yoruba and was now able to use the language while campaigning.

‘Culture and language is very, very important, and I’ve gotten a Yoruba teacher, and I’ve learned Yoruba, and I can campaign in Yoruba, and that is wonderful,’ he said.

He also demonstrated his progress during the interview when a presenter greeted him in Yoruba.

After being told that the greeting would be translated for him, Rhodes-Vivour laughed and responded, ‘Mo ki gbogbo yin,’ which means ‘I greet all of you.’

The ADC aspirant, however, said his focus goes beyond language, noting that issues affecting Lagos residents cut across ethnic groups.

He mentioned flooding, housing and traffic as some of the problems affecting residents of the state.

‘My passionate interest is to ensure that we have a Lagos that no longer stinks.

‘All of us are going to, when you translate it, all of us are going to hear the smell, right? Everybody is going to experience the failure, is experiencing the failure of our flooding, of our housing crisis, of the traffic, of the loss of dignity of Lagosians. And that connects all of us,’ he said.

Rhodes-Vivour’s comments come after his Yoruba-speaking ability became a major talking point during the 2023 Lagos governorship election.

During that election, he faced questions over his fluency in Yoruba because of his mixed Yoruba and Igbo heritage. His father is Yoruba, while his mother is Igbo.

In a March 2023 interview with Channels Television, Rhodes-Vivour said he understood and could speak Yoruba but was not fluent.

He explained that his upbringing and education, including time spent outside Nigeria, contributed to his limited fluency.

His remark that he did not ‘think in Yoruba’ also drew criticism during the 2023 campaign.

Rhodes-Vivour later said he had engaged a Yoruba teacher to improve his fluency and connect better with the people.

He contested the 2023 Lagos governorship election under the Labour Party and finished third behind the incumbent, Babajide Sanwo-Olu of the All Progressives Congress, and the Peoples Democratic Party candidate, Abdul-Azeez Adediran, popularly known as Jandor.

Kenya’s capital conversation Tanzania has yet to start

Windsor Golf Resort, an hour outside central Nairobi, hosted a version of the East Africa investment conversation I have not yet heard held in public in Dar es Salaam.

Over two days this month, I had the pleasure to attend the fifth AmCham Business Summit which convened American and East African executives, regulators and capital allocators under a mandate that has quietly hardened since its first edition: stop pitching opportunity, start engineering delivery.

President William Ruto opened proceedings with a line that deserves more attention from policymakers across the region than it will get: capital moves when the rules are clear, licenses are issued on time, verified refunds are paid, contracts are respected, and agreed terms do not change halfway through an investment.

It is not a novel sentiment. What is novel is that Kenya is now pairing it with figures that let investors check the claim against results: foreign direct investment nearly doubling from $1.5 billion in 2022 to $3.2 billion in 2025, a digitised Investment One Stop Centre replacing the discretionary approvals process investors used to dread, and removal of the 30 percent local equity requirement that had kept several technology majors on the sidelines.

Predictability has been converted from a political promise into a measurable product, marketed as deliberately as any of the summit’s seven priority sectors.

The substance backed the marketing. A session titled Building the Capital Architecture for Regional Growth put the Nairobi Securities Exchange, the Nairobi International Financial Centre and the Kenya Investment Authority on the same panel to discuss instrument design, not incentive announcements.

An infrastructure breakout was framed around procurement certainty, offtake risk and public-private partnership structuring, the unglamorous mechanics that determine whether a signed memorandum becomes a functioning asset.

This is the register an investment strategist listens for and a purely legal read of an investment climate tends to miss: not whether the law permits a structure, but whether the market has built the plumbing to price and de-risk it.

On that stage, Kenya’s answer was visibly further along. A second gap sits underneath the substantive one, and it is cruder. A sitting president opened the summit, and Prime Cabinet Secretary Musalia Mudavadi closed it with remarks on turning dialogue into implementation.

Tanzania’s own AmCham chapter co-partnered the event, a genuine and useful presence, but the country’s representation in the room sat at chamber level, not head of state level.

Investors are not naive enough to equate seniority of attendance with deal quality, but they are pattern-matching under time pressure, and who a government sends to stand in front of capital reads as a signal regardless of intent. I press this point on every client weighing where to spend a scarce travel calendar this year: the optics of convening are themselves a form of due diligence investors perform on you, whether you meant them to or not. Tanzania is not short of its own investment story this month. Seoul has reaffirmed a $2.5 billion development financing commitment spanning transport, technology and health, and the blue economy is finally getting the legal review needed to convert marine and freshwater resources into a genuine private-sector opportunity.

However, it is worth sitting with what Tanzania’s own Finance Ministry said about the Korea commitment days before Nairobi’s summit closed: that projects pledged years ago have taken years to reach implementation. Mudavadi’s closing line in Nairobi and Tanzania’s own finance officials, without coordinating, were describing the same problem from opposite sides of the border.

Amne Suedi is the Managing Director of Shikana Investment and Advisory, Honorary Consul of Switzerland in Zanzibar, and Chair of the Switzerland-Tanzania Chamber of Commerce. Views expressed are strictly Amne Suedi’s only.

Fed resets global rate cycle as Azerbaijan builds monetary buffer

The US Federal Reserve (Fed) raised interest rates on Wednesday for the first time in more than three years, increasing the target range for the federal funds rate by 25 basis points to 3.75%-4.00%. The move, which fully met market expectations, also signaled new rate hikes in the near future. The decision by the monetary authority of the world’s largest economy effectively signals the beginning of a new phase in global financial markets.

It is clear that the period of monetary easing that prevailed around the world since the second half of 2025 is now behind us. At that time, amid easing inflation, central banks were expected to gradually cut their policy rates, and many regulators, including the Central Bank of Azerbaijan (CBA), had begun lowering rates. However, renewed tensions in the Middle East at the beginning of 2026 and their direct impact on oil prices reignited global inflationary pressures.

As if the imbalance created in energy markets by the Russia-Ukraine war, which has continued since 2022, were not enough, geopolitical chaos surrounding the Gulf countries with major oil and gas reserves and Iran once again triggered fuel price rises. As a result, the optimism surrounding rate cuts in the second half of 2025 soon gave way to sharp monetary tightening. Rate hikes by the central banks of Europe and Japan in the summer of 2026 were the first signals of this trend.

In the US, meanwhile, inflation rose to 3.4% in September (the expected target was 2%), while non-farm payrolls came in at around 160,000, compared with a forecast of 50,000, indicating that the labor market was overheating. The fact that both indicators significantly exceeded expectations forced the Fed to take the inevitable step of raising its policy rate. The same scenario is now expected to be repeated by Europe and Japan, while the Fed is also expected to proceed with further rate hikes.

As a rule, when the central banks of developed countries, particularly the Fed, raise interest rates, the yields on assets in developed countries rise sharply, making those assets more attractive to global investors. As a result, massive capital outflows from emerging markets (EMs) begin, local currencies come under depreciation pressure, and yields on government bonds in those countries rise. Research by the International Monetary Fund (IMF) also confirms that unexpected tightening of monetary policy in Washington puts direct pressure on the currencies of emerging markets. For this reason, these countries are forced to follow the Fed and other major central banks and raise interest rates in order to retain capital.

So, what position will the Central Bank of Azerbaijan take against the backdrop of this global storm? To answer this question, it is enough to look at the latest macroeconomic indicators presented by the CBA.

First, the volume of deposits in the country’s banking sector has reached a record level of AZN 44 billion, according to the latest reports. Of this amount, AZN 17 billion consists of deposits held by individuals, while the remainder belongs to legal entities and institutional organizations. For comparison, during the same period last year, medium- and small-sized banks offered interest rates of 12% on manat deposits, while the figure has now fallen to 10%. This indicates that liquidity in the banking system is sufficiently high.

Second, there is a huge positive balance in foreign trade turnover. According to data from the State Customs Committee for August, a positive trade balance of $10.3 billion was recorded in the first eight months of 2026. The CBA’s latest report also confirms this: last month alone, the regulator purchased $1.5 billion from the foreign exchange market, increasing its foreign currency reserves to $15.3 billion. This is the highest level recorded since the devaluation in 2015.

Third, inflation stood at 5.7% in August, which is within the CBA’s target range of 4% (±2%) and indicates that price growth in the domestic market remains under control.

Final Analysis and Forecast

The Central Bank of Azerbaijan’s policy rate currently stands at 6.5%, and this level has remained unchanged since February 5, 2026.

All these data show that, unlike many emerging markets, Azerbaijan’s large foreign currency reserves, stable foreign trade surplus, and the manat’s fixed exchange rate regime against the US dollar serve as strong buffers protecting the country from the direct negative effects of global monetary tightening.

If no force majeure geoeconomic shocks occur in domestic or global markets in the near future, we can expect the Central Bank of Azerbaijan to maintain a ‘wait-and-see’ position through the end of 2026 or cautiously lower interest rates in order to support domestic business activity. Rather than joining the global race for higher interest rates, the CBA is likely to prioritize maintaining domestic macroeconomic stability and high liquidity.

Sri Lanka has creators; the platforms are years behind

A Sri Lankan creator can build a TikTok following in the millions, produce content that performs as well as anything coming out of Los Angeles or London, and earn nothing directly from the platform for it.

That is not an exaggeration. It is policy.

TikTok’s Creator Rewards Program remains limited to selected eligible regions, and Sri Lanka is not one of them. Neither is much of South Asia, much of Africa, and much of the Middle East.

YouTube, by contrast, has offered Sri Lankan creators a clearer and more direct path to monetisation for years. That proves this is not a technical impossibility. It is a choice other platforms have not made yet.

Platforms may argue that a limited eligible list is normal for a monetisation rollout, not exclusion, and that ad revenue viability genuinely varies by market. Fair enough. But that explanation does not change the reality on the ground: creators here are still producing content that drives engagement, attention, and time spent on these platforms, while the platforms benefit from that activity whether or not creators are paid directly for it.

What is actually changing, slowly. The situation is moving. Slowly.

Sri Lanka is now listed as eligible for Facebook Content Monetisation, after years in which many local creators building real audiences had limited access to direct platform monetisation. PayPal tells a similar story. Sri Lankans have long relied on PayPal-related workarounds, while full access to receiving and withdrawing funds has remained dependent on local banking pathways and partner-bank availability.

You learn to build around walls you did not put up and cannot take down. That is most of what local creator life actually is: quiet improvisation nobody outside the work ever sees.

Sri Lanka has a thriving, increasingly influential TikTok creator scene. Some creators here have audiences that would be the envy of mid-tier influencers in eligible markets. By visible measures, they may appear to be doing fine: sponsorships, brand deals, a public profile.

But doing fine through workarounds is not the same as being paid properly for what the platform itself profits from. The two get confused easily because the workarounds are genuinely resourceful. That does not make them sufficient.

Beyond individual creators

This is not just an inconvenience for people trying to make a living from content. It is a structural drag on a creator economy that a country like Sri Lanka could be building.

Brand deals exist here, and some creators do well from them. But without a stronger platform backed monetisation infrastructure, the market remains uneven. Rates are often negotiated through guesswork rather than evidence. A creator with real reach may have no reliable benchmark to point to, and a brand may have no reliable way to understand what fair value actually looks like.

That inconsistency is a direct consequence of having no strong platform-level monetisation infrastructure to build a market around.

When direct monetisation is absent, the creator economy becomes dependent on side doors: individual sponsorships, affiliate links, brand collaborations, donations, and payment workarounds. These methods can work, but they reward creators who already know how to negotiate, package themselves, and access international payment systems. They do not necessarily reward the creator producing the best work.

That matters because creator economies are not built only by viral personalities. They are built by systems: payment access, monetisation tools, brand standards, analytics, contracts, and trust.

Without those systems, talent exists, but it does not compound properly.

What creators here have built instead

In the absence of full platform support, creators have had to construct their own monetisation infrastructure from almost nothing.

Ko-fi linked to PayPal once that became more viable. Direct affiliate deals with brands willing to work around the gaps. Sponsorships negotiated one at a time, with no industry standard to lean on. Some creators rely on international audiences. Others build private communities, sell services, or use content as a funnel into entirely different work.

It works, mostly.

But ‘it works’ is a low bar when the alternative – being paid properly and consistently for content that performs – already exists for creators in selected countries.

Creators in markets like Sri Lanka are not asking platforms to invent a new internet for us. We are asking them to recognise the one we are already building.

What needs to change

This is not a call for charity. It is a call for platforms to recognise a market they are already benefiting from.

Sri Lanka has the creators. It has smartphone use, the internet culture, attention, and talent. What it lacks is the infrastructure that arrives at the same pace.

Until that changes, the responsibility also falls on local brands and businesses to close part of the gap themselves. That means building real partnerships, paying fairly, using clear expectations, and treating creator marketing as a serious discipline rather than an afterthought.

Creators should not have to prove, over and over again, that their work has value just because the tools around them arrived late.

Sri Lanka has the creators. It is time for the rest of the ecosystem to catch up to them.

West Nile virus cases in Cyprus rise to 14, CNA learns

A total of 14 cases of West Nile virus infection have been recorded in Cyprus as of Sept. 17, 2026, according to information provided to the Cyprus News Agency by the Medical and Public Health Services of the Ministry of Health.

Of the 14 cases, nine have been confirmed and five are probable. Thirteen of the cases are locally acquired, while one is imported. To date, one patient has died. The patient had a serious medical history and underlying health conditions.

According to the same information, the activity of acute respiratory infections in the community, as recorded through the Sentinel Surveillance Network in Primary Health Care, remains at low levels, with 42 cases per 1,000 visits.

During the period September 7-13, 2026, according to data reported by public and private hospitals, five hospitalizations due to influenza, no hospitalizations due to RSV and six hospitalizations due to SARS-CoV-2 were recorded.

During the previous week, August 31 – September 6, 2026, two hospitalizations due to influenza A and four due to SARS-CoV-2 were recorded. No admissions to an intensive care unit were recorded during either of the two weeks.