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Stanbic Bank: Pension funds key to unlocking Africa’s infrastructure finance

Greater collaboration with pension funds could provide the long-term capital needed to accelerate infrastructure development across Africa, Stanbic Bank Tanzania Chief Executive Officer Manzi Rwegasira has said.

Speaking at a high-level forum in Dar es Salaam on Wednesday, August 5, 2026 Rwegasira said commercial banks are well placed to finance the early stages of infrastructure projects, but their funding is largely sourced from short-term customer deposits, making it unsuitable for long-term investments such as roads, bridges and energy projects.

The forum brought together senior government officials, financial sector leaders and business executives to discuss innovative financing solutions under the theme, “Reinvesting for Expansion: Recycling as a Catalyst for Growth.”

Rwegasira said pension funds, with their long-term investment horizon, are better suited to finance major infrastructure projects once they have been initiated by commercial banks.

“Banks can finance the initial stages of projects before bringing in pension funds, which have the capacity to invest over the long term because of the nature of their capital,” he said.

He added that Africa must reduce its reliance on new borrowing to finance infrastructure and instead maximise the value of existing public assets.

Rwegasira said the asset recycling model offers a practical solution by using revenue-generating infrastructure such as ports, roads and bridges to attract private investment and unlock capital for new development projects.

“Rather than relying on new loans every time, Africa should use its existing assets to generate additional financing for future infrastructure investment,” he said.

Apple Pay debuts with 4 banks in Philippines

Apple Pay has officially debuted in the Philippines with an initial roster of four partner banks, marking the long-awaited entry of Apple’s mobile payment service into the local market.

The first participating banks are China Banking Corp., GoTyme Bank, Metropolitan Bank and Trust Co. and Union Bank of the Philippines, according to Apple’s Philippine website.

Eligible Visa and Mastercard cardholders of the four banks can now use their iPhone or Apple Watch to pay at contactless terminals. Payments can also be made through supported apps and websites using an iPhone, iPad or Mac.

Visa said the launch marks another step in the country’s transition toward digital payments while making transactions more convenient for both Filipinos and international visitors.

‘Apple Pay represents the next evolution of payments in the Philippines, combining ease of use, simplicity and security in every transaction, helping amplify the payment experience for Visa cardholders in the Philippines,’ Jeffrey Navarro, country manager for Visa Philippines, said.

‘With Apple Pay, Filipinos and tourists alike now have seamless and secure ways to pay across shops, restaurants, travel destinations and public transport, supporting the nation’s vision to become a cash-lite economy.’

Mastercard echoed that view, saying the rollout gives consumers another secure and convenient way to pay as digital adoption continues to gain momentum.

‘As digital adoption continues to accelerate in this region, we’re excited to continue connecting people to the payment choices they want and the peace of mind they need every time they pay,’ Jason Crasto, country manager of Mastercard in the Philippines, said.

Among the first local issuers to support the service is UnionBank, which said the integration aligns with its push to make banking more intuitive and secure for customers.

‘Bringing Apple Pay to UnionBank cardholders enhances the payment experience by allowing customers to pay quickly and securely with the devices they use every day,’ UnionBank president and CEO Ana Aboitiz Delgado said.

‘Whether they’re shopping in-store, online or in-app, customers can enjoy a more seamless way to pay, with the security and convenience they expect from UnionBank,’ she added.

ADC condemns EFCC freezing of Osun govt account

The African Democratic Congress (ADC) has condemned the freezing of local government allocations to Osun State.

Reacting to the development on Wednesday through its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC described the action as ‘political terrorism’ and accused the Federal Government of weaponising state institutions to punish the people of the state.

The party said President Bola Tinubu’s mentality that ‘all is fair in war’ constitutes a serious threat to democracy and national stability.

The party noted that the withholding of the funds was part of a broader strategy of intimidation, which it said included the continued occupation of local councils by unelected APC loyalists, the arrest of opposition figures, the activities of armed political thugs allegedly backed by security agencies, and the orchestrated destabilisation of the state through the use of federal institutions.

It said no ruling party should ever confuse electoral competition with military conquest, stating that, ‘Political opponents are not enemy combatants. Opposition-controlled states are not occupied territories. Public institutions do not belong to whichever party temporarily controls the federal government.’

The statement further read:

‘The African Democratic Congress condemns in the strongest possible terms the freezing of the statutory allocations due to the local governments of Osun State. This is not an administrative decision or a legal dispute. It is political terrorism by the Bola Tinubu-led APC government, carried out with the instruments of the Nigerian state in order to achieve the singular objective of undermining the state government ahead of the coming governorship election in the state.

‘This sinister move confirms that the Tinubu-led Federal Government will do anything, including starving the people of Osun State, to achieve its political objectives. Yet no democracy worthy of the name deliberately sacrifices the welfare of innocent citizens in pursuit of partisan political ends.

‘The salaries of workers, the operation of primary healthcare centres, the education of children, rural infrastructure, and other essential public services have all been turned into bargaining chips in President Tinubu’s political contest.

‘We have noted earlier that President Bola Tinubu’s mentality, which regards political contests as warfare, constitutes a serious threat to democratic engagement. But even in war, there are rules of engagement that recognise human dignity and place limits on the conduct of adversaries.

‘Democracies are expected to hold themselves to an even higher standard. What justification can there possibly be for the barbarity now playing out in Osun State, where one man has declared war on his own people?

‘The freezing of local government funds is only the latest chapter in what has become a systematic campaign to undermine constitutional government in the state. For well over a year, unelected APC loyalists have continued their illegal occupation of local government councils, in open disregard for democratic legitimacy and the rule of law. Instead of protecting constitutional order, federal institutions have looked the other way and even encouraged the illegality.

‘Candidates and leaders of the Accord Party have reportedly been subjected to indiscriminate arrests, not because they constitute a threat to public safety, but because political intimidation has become an accepted instrument of politics by a Federal Government that has abandoned all pretence of ethics and morality.

‘In Osun State today, violence has become normalised. Hoodlums allegedly associated with the APC have openly deployed military-grade weapons to terrorise communities, intimidate political opponents, and undermine peace across the state. Rather than confront criminality impartially, security agencies have appeared content to watch from the sidelines.

‘Even more disturbing are allegations that individuals and their armed gangs have enjoyed the active protection or indulgence of elements within the Nigeria Police Force while carrying out acts of intimidation against citizens. If true, nothing better illustrates the collapse of the distinction between the impartial authority of the state and the partisan interests of a political party.

‘Taken together, these actions reveal something more dangerous than ordinary political competition. They point to the deliberate promotion of a state of anarchy by federal authorities and agencies whose constitutional duty is to preserve law, order, and democratic stability.

‘What the people of Osun deserve is the democratic right to freely choose who governs them. But right now, they have been placed under siege. This rascality has to stop.’

2026 WASSCE: 1.2m candidates secure credit in English, Maths

The Head of the Nigeria National Office of the West African Examinations Council (WAEC), Dr. Amos Dangut, disclosed this on Wednesday while announcing the release of the examination results in Lagos.

According to him, of the 1,950,726 candidates who sat the examination in Nigeria, 1,834,695, representing 94.05 per cent, had their results fully processed and released.

He added that 116,031 candidates, representing 5.95 per cent, still have one or more subjects being processed due to issues that are currently being resolved.

Dangut assured the affected candidates that efforts were being intensified to complete the processing and release the outstanding results within the next few days.

Giving a breakdown of candidates’ performance, he said 1,687,378 candidates, representing 86.50 per cent, obtained credit passes in at least five subjects, with or without English Language and Mathematics.

He further disclosed that 1,200,514 candidates, representing 61.54 per cent, obtained credits in a minimum of five subjects, including English Language and Mathematics.

Philippines launches first Women and Children’s Crisis Center

A landmark partnership among Congress, government agencies, the city government of Muntinlupa and the private sector formally launched the country’s first Women and Children’s Crisis Center on Aug. 3 at The Haven for Women Compound in Alabang, Muntinlupa.

The pioneering initiative underscores President Marcos’ priority to strengthen mental health services, as highlighted in his State of the Nation Address, while expanding protection and holistic support for vulnerable sector members.

The center is spearheaded by Pangasinan 4th District Rep. Gina de Venecia and Bulacan 4th District Rep. Linabelle Villarica, co-presidents of the Association of Women Legislators Foundation, Inc., together with project chairperson Bukidnon 3rd District Rep. Audrey Zubiri and the Lady Legislators of the House of Representatives of the 20th Congress, in partnership with the Senate.

Joining the collaboration are the Department of Social Welfare and Development led by Secretary Rex Gatchalian, the Department of Health under Secretary Brix Pujalte, the Department of Public Works and Highways led by Secretary Vince Dizon, the Congressional Spouses Foundation Inc. headed by Ann Dy and the local government of Muntinlupa under Mayor Ruffy Biazon.

Once operational, the center will provide integrated psychiatric and psychological care, crisis intervention, trauma-informed treatment, rehabilitation and recovery programs in a safe, healing and dignified environment.

The facility was designed by Archion Architects, led by renowned architect Dan Lichauco, whose portfolio includes major health care projects such as the Philippine General Hospital Felicidad Sy Multi-Specialty Building, the Asian Hospital and Medical Center Tower 2 Expansion, the National Children’s Hospital and the Overseas Filipino Workers’ Hospital in Pampanga.

De Venecia underscored the importance of the project, saying, ‘Mental health is a fundamental human right, and every Filipina deserves access to compassionate, dignified and world-class care during her most vulnerable moments.’

She added, ‘This Women and Children’s Crisis Center embodies our collective commitment to protect women, restore hope, strengthen families and ensure that no woman faces mental health challenges or crisis alone.’

Emphasizing the long-term impact of the initiative, Villarica stated, ‘Beyond providing immediate refuge, our goal is to offer a comprehensive sanctuary where survivors receive the full spectrum of care they need to heal and rebuild their lives.’

‘Through this multi-sectoral endeavor, we are setting a new benchmark for public care and legislative action in defense of women and children,’ she added.

Construction will proceed at The Haven for Women compound in Alabang, with targeted completion in 2027.

Beyond serving Metro Manila, the project is envisioned as a national model for similar centers to be replicated across the regions, expanding access to specialized mental health and rehabilitation services nationwide.

Simba leaders bury differences, focus on new league season

Simba SC have taken a significant step toward restoring stability after its top leaders resolved recent internal disagreements and reaffirmed their commitment to working together in the club’s best interests ahead of the 2026/2027 season.

The move follows days of public exchanges that had fueled speculation about divisions within the club’s leadership.

However, in a joint statement signed by Board Chairman Crescentius Magori and Vice Chairman Murtaza Mangungu, the Board of Directors announced that all discussions regarding the Board of Trustees would be suspended until the completion of the club’s electoral process. The decision effectively closes a chapter that had threatened to distract the club from its football ambitions.

Instead of continuing with governance disputes, the leadership agreed to focus on key priorities, including finalizing player recruitment, preparations for Simba Day, the Community Shield, and the new Mainland Premier League campaign.

The statement also urged members, supporters and stakeholders to unite behind the club as it prepares for one of its most important seasons in recent years.

The agreement represents a notable turnaround from the tensions that had recently spilled into the public domain.

The disagreement initially arose over the process of appointing a new Board of Trustees, with differing interpretations of the club’s constitution and the procedures required to convene a Special General Meeting.

As the debate intensified, concerns grew that the dispute could undermine the club’s stability at a critical stage of its preparations. The disagreement was rooted in broader governance issues that had been developing for months.

Internal differences over the direction of the club, varying views on the implementation of constitutional reforms. The constitutional amendments adopted earlier this year introduced major changes to Simba’s governance structure, including reforms affecting the composition of the Board of Directors, the Board of Trustees and the club’s ownership framework.

While the reforms were intended to modernize the club’s administration, some provisions had yet to be fully implemented, creating uncertainty over governance procedures and decision-making responsibilities.

2026 results: Candidates can apply for digital certificates after 48 hours – WAEC

The West African Examinations Council (WAEC) has announced that candidates who sat the 2026 West African Senior School Certificate Examination (WASSCE) can now apply for their digital certificates 48 hours after checking their results online.

The announcement came on Wednesday as the examination body released the results of the 2026 Computer-Based WASSCE for school candidates.

Speaking at the official release of the results in Lagos, the Head of the WAEC National Office, Dr Amos Josiah Dangut, said candidates can apply for their digital certificates through the council’s online platform shortly after accessing their results.

The council also introduced a new portal that allows candidates to generate e-PINs directly to check their results, making the process easier.

WAEC said candidates can check their results within 12 hours on the result portal, while hard copies of certificates will be available within 90 days.

The examination body disclosed that 1,200,514 candidates, representing 61.54 per cent, obtained credits in at least five subjects, including English Language and Mathematics.

According to Dr Dangut, the performance is 1.42 per cent lower than that of 2025.

A total of 1,959,668 candidates from 24,207 schools registered for the examination conducted across Nigeria, the Benin Republic, Côte d’Ivoire and Equatorial Guinea.

Out of the registered candidates, 1,950,726 sat the examination.

WAEC said 1,687,378 candidates, representing 86.50 per cent, obtained credits in at least five subjects, with or without English Language and Mathematics.

Among those who obtained five credits, including English and Mathematics, 558,883 were male, while 641,631 were female.

The council also said 953,459 males and 997,267 females sat the examination.

On result processing, WAEC said 1,834,695 candidates, representing 94.05 per cent, have had their results fully processed and released.

It added that the results of 116,031 candidates, representing 5.95 per cent, are still being processed.

WAEC also disclosed that 1,213 candidates with special needs registered for the examination. They include 137 visually impaired candidates, 491 with hearing impairment, 55 spastic and mentally challenged candidates, and 41 physically challenged candidates.

The council withheld the results of 167,486 candidates, representing 8.59 per cent, over examination malpractice. The figure is lower than the 9.7 per cent recorded in 2025.

‘The increasing use of cell phones in the examination hall, in spite of the existing ban, and organized cheating in some schools, are other nagging issues,’ Dr Dangut said.

He added that some supervisors and invigilators caught helping candidates cheat had been apprehended and would face sanctions through the State Ministries of Education.

Dr Dangut said the 2026 examination was the second Computer-Based WASSCE conducted for school candidates and the third and final results briefing he would deliver as Head of the WAEC National Office.

He said the council has also introduced the Digital Examiner Mark System (DEMS) to speed up the marking process and serialised question papers to reduce examination malpractice.

WAEC further announced that registration for the 2026 WASSCE for Private Candidates (Second Series) is ongoing at N37,500, while walk-in candidates are also allowed.

Kano: Police probe six over alleged distribution of unapproved medicines

The Kano State Police Command has clarified reports circulating on social media regarding the interception of individuals allegedly administering and distributing unverified locally made medicines during a church outreach in Kano, saying the operation was launched following complaints from members of the public.

In a statement issued by the command, it said operatives of the 52 Police Mobile Force (PMF), Challawa, intercepted six male suspects on August 4, 2026, at about 9:00 a.m. during an outreach programme at the ECWA Church located behind the 52 PMF Base in Challawa.

The police identified the leader of the group as Simon Gbaaondo, 50, from Karu, Nasarawa State, stating that the suspects were attached to the Brother Paul Legacy Foundation.

According to the command, preliminary investigations indicated that the group was administering and selling unverified locally made medicines to a large number of residents from the Panshekara community without obtaining approval from the relevant health regulatory authorities.

The police also disclosed that the individual who facilitated the group’s use of the church premises had been invited to assist with the ongoing investigation.

The case was initially reported at the Panshekara Police Division before being transferred to the Kano State Criminal Investigation Department (CID), where five of the suspects are currently undergoing further investigation.

The Commissioner of Police, Ibrahim Adamu Bakori, warned individuals and organisations against conducting medical outreaches or distributing drugs and locally made medicines without the necessary approvals from the Kano State Government, the National Agency for Food and Drug Administration and Control (NAFDAC), and other relevant health authorities.

He noted that such unauthorised activities pose significant public health and security risks, particularly when they attract large gatherings.

The command reaffirmed its commitment to safeguarding lives and maintaining public order, stressing that it would not tolerate activities capable of endangering the health and safety of residents.

It urged members of the public to report suspicious medical outreaches or the distribution of unverified medicines to the nearest police station, adding that further updates would be provided as investigations progress.

Genser Buys Out Investor

Genser Energy, the privately owned energy infrastructure company, has announced that it has redeemed the full shareholding previously held by OP Energy Holdings Limited, ending Oppenheimer Partners’ investment in the business.

Oppenheimer Partners first invested in Genser Energy as a preferred shareholder in 2021 before converting to a common shareholder in 2023, when it acquired a 40.40% ownership interest. The latest transaction concludes that investment and returns the stake to Genser Energy.

Founded in 2006, Genser Energy has grown into one of West Africa’s leading integrated energy companies, supplying electricity to industrial customers and utilities while investing heavily in gas infrastructure.

Before Oppenheimer Partners joined the business, the company had developed five operating power plants and a 325-kilometre natural gas pipeline network, establishing itself as a key supplier of energy to Ghana’s industrial sector.

During the investment period, Genser expanded its infrastructure further, adding another 110 kilometres of natural gas pipeline, constructing a 200 million standard cubic feet per day gas conditioning plant in Prestea and entering Côte d’Ivoire through cross-border electricity exports.

‘This transaction marks an important milestone for Genser Energy and reflects the strength of the business we have built over the past two decades,’ said Baafour Asiamah Adjei, founder, president and chief executive of Genser Energy.

Company chairman, Nana Osae Nyampong, said the buyout would allow Genser to focus on its next stage of growth.

‘As we look ahead, we remain focused on expanding our regional presence and creating long-term value for our customers, communities, employees and shareholders,’ he said.

The transaction comes as infrastructure investors increasingly seek opportunities in Africa’s energy sector, where growing industrial demand and regional power integration are driving investment in gas pipelines, power generation and cross-border electricity trade.

Genser said it remains well positioned for further expansion as it continues investing in strategic energy infrastructure across West Africa.

The company now operates more than 310 megawatts of installed generation capacity and owns a 436-kilometre privately developed natural gas pipeline network across Ghana. It is also completing major midstream projects, including a gas conditioning plant and a natural gas liquids export terminal, while supplying power to industrial customers and utilities as well as participating in regional electricity exports.

Mwigulu urges use of research to boost productivity, markets and food security

Prime Minister Mwigulu Nchemba said Tanzania cannot transform its agriculture, livestock and fisheries sectors without investing in research, noting that President Samia Suluhu Hassan’s government has allocated substantial funds to support research aimed at increasing productivity, expanding markets and strengthening food security.

Speaking after touring pavilions at the Eastern Zone Nanenane agricultural exhibitions on Tuesday, August 4, 2026, Dr Nchemba urged agricultural institutions, including the Tanzania Agricultural Research Institute (Tari) and Sokoine University of Agriculture (Sua), to invest in research and translate their findings into practical results for the agricultural sector.

He said the agricultural sector had grown rapidly and created more employment opportunities, particularly for young people. However, he urged young Tanzanians to participate fully in the sector and abandon the perception that agriculture is an occupation for older people.

‘Modern agriculture is no longer practised in the traditional way. It can be successfully undertaken by young people, many of whom are graduates of various universities in the country, because they understand and can use modern technologies,” he said.

“For example, I met a young graduate at the Sugar Board pavilion who can use a drone to irrigate a seven-hectare farm within 20 minutes,’ added Dr Nchemba.

He urged young people to use the knowledge and skills acquired at universities to invest in agriculture and apply research findings to increase productivity.

Dr Nchemba pledged that the government would continue improving infrastructure to support agricultural production.

He said this year’s theme, ‘Identify markets, increase productivity and implement Vision 2050,’ had already demonstrated that its objectives could be achieved by 2050 because of the rapid pace of investment in the agricultural sector.

In another development, the premier urged farmers and livestock keepers to abandon the perception that they are rivals and instead work together to increase production, saying the country could not develop industries without adequate raw materials.

The Minister for Livestock and Fisheries, Dr Bashiru Ally, said Morogoro was a centre for agricultural transformation, partly because of the presence of Sokoine University of Agriculture.

He commended the university for its contribution to agricultural development, but urged it not to become complacent.

Dr Ally directed the university’s leadership to continue advancing research, innovation and training, particularly in areas related to agricultural production.

Morogoro Regional Commissioner Adam Malima, said this year’s exhibitions were of a higher standard because they showcased technologies that could help farmers translate knowledge into practical applications and ultimately increase productivity.