Shoprite unveils neighbourhood strategy to revive Nigerian operations

Shoprite Nigeria is planning to open standalone neighbourhood stores as part of efforts to revive its retail operations, moving away from its traditional reliance on large shopping malls. Adekunle Adebiyi, Investments Executive Director disclosed this during an interview on Nairametrics where he discussed the retailer’s financial challenges, restructuring efforts and recovery plans.

According to Adebiyi, three Shoprite stores have reopened following a temporary shutdown of operations to allow the company to negotiate with suppliers and address its financial obligations.

‘We took a very, very drastic decision to just shut everything down whilst we negotiated with suppliers. Now three stores are back open,’ he said.

He explained that the company intends to expand through smaller, standalone neighbourhood outlets rather than depending primarily on shopping malls, a strategy he described as consistent with its original business plan.

‘We’re going to be opening standalone neighbourhood stores, which was always the plan,’ Adebiyi said.

He noted that the strategy would allow Shoprite to concentrate on retail operations without committing substantial capital to property development. Adebiyi explained that the traditional supermarket model relies on leasing suitable commercial properties rather than acquiring buildings outright. He said retailers could negotiate long-term leases, sometimes extending to 10 years, and invest primarily in shelves, refrigeration equipment and other operational infrastructure.

According to him, this approach differs from the expectations of Nigerian banks, which typically favour businesses with substantial fixed assets that can serve as collateral. He disclosed that MBO Capital encountered difficulties securing bank financing during the acquisition of Shoprite Nigeria because lenders struggled to identify sufficient tangible assets against which to provide credit.

Despite Shoprite generating billions of naira in revenue, its business model did not fit conventional asset-backed lending requirements. Consequently, the investors turned to alternative funding arrangements to complete the acquisition. Adebiyi also identified foreign exchange volatility as a major factor behind Shoprite Nigeria’s financial difficulties.

He revealed that approximately 17 of the retailer’s 28 stores had dollar-denominated rental agreements at the time of the acquisition. The subsequent depreciation of the naira significantly increased rental obligations, placing additional pressure on operating costs. According to him, rent should ordinarily account for approximately 8% to 10% of a supermarket’s revenue. However, some Shoprite locations experienced substantially higher rental costs.

Beyond foreign exchange pressures, Adebiyi acknowledged operational shortcomings, including weaknesses in inventory management and the loss of access to the former parent company’s enterprise resource planning system. He said replacing the system required billions of naira in additional investment, diverting funds that could otherwise have supported the business.

The proposed neighbourhood-store expansion represents the next phase of that recovery strategy, although the company has not disclosed the number of planned outlets, their locations or an opening timeline. As previously reported by Nairametrics, Ketron Investment Limited, a consortium led by Persianas Investment Limited, completed the acquisition of Shoprite Nigeria in June 2021, following the South African retailer’s decision to exit direct ownership of the Nigerian business.

The transaction saw Retail Supermarkets Nigeria Limited take over operations under a franchise arrangement, with MBO Capital Management Limited among the advisers involved in the acquisition. In June 2024, Nairametrics reported that Shoprite announced the closure of its Wuse store at Novare Wuse Central Mall in Abuja, citing the prevailing business climate and the outlet’s financial performance.

The retailer’s challenges continued into 2025, with reports of temporary store closures and operational disruptions linked to working capital constraints, electricity costs and other expenses. However, in March 2026, Shoprite told Nairametrics that it was not exiting Nigeria but implementing a phased restructuring programme that began in August 2025 Bunmi Adeleye,Retail Supermarkets Nigeria Limited Chief Strategy Officer disclosed plans to reopen outlets at The Palms Shopping Mall and Circle Mall in Lagos while exploring smaller neighbourhood store formats to reduce rental, electricity and diesel expenses.

UK, Nigeria strengthen cooperation on migration, justice, security

The United Kingdom and Nigeria have agreed to deepen cooperation on migration, justice and security, with a focus on tackling visa fraud, organised immigration crime, drug trafficking and cyber-enabled fraud, while improving legal migration pathways and border management.

The agreement followed the annual UK-Nigeria Migration, Justice and Home Affairs (MJHA) Dialogue held in London on October 6, where senior officials from Nigeria’s Ministry of Foreign Affairs and the UK Home Office jointly chaired discussions on translating commitments made during President Bola Tinubu’s State Visit to the UK in March 2026 into practical measures.

The discussions covered a range of areas, including document verification, border security, the return and reintegration of migrants, extradition, asset recovery and prisoner transfers, as both countries seek to strengthen law enforcement cooperation and protect legitimate travel between them.

The two countries also agreed to work together to address drug trafficking and crimes facilitated by digital technologies, reflecting the broadening scope of their bilateral security cooperation.

According to a statement by the British High Commission, the dialogue was designed to convert political commitments made during the State Visit into practical areas of cooperation that would benefit citizens of both countries.

The discussions also emphasised the need to support safe and dignified migrant returns and reintegration, alongside efforts to prevent the abuse of immigration systems.

It noted that Nigeria remains a significant source of travellers to the UK, receiving the third-highest volume of UK student visas globally and the fifth-highest volume of work visas. This level of movement has made cooperation on protecting legitimate travel, strengthening verification processes and holding those responsible for immigration-related offences accountable a key priority for both governments.

The UK and Nigeria also agreed to support the development of Nigerian visa pathways for businesses seeking to invest in Nigeria.

Vicky Seymour, British Deputy High Commissioner, said the partnership was producing practical results on issues of importance to both countries.

‘The UK-Nigeria partnership is delivering practical results on issues that matter to both our countries,’ Seymour said.

She said both governments were building on the momentum of Tinubu’s State Visit by implementing commitments aimed at tackling visa fraud and organised immigration crime, strengthening border security, and supporting safe and dignified return and reintegration.

‘Our goal is simple: protect legitimate travellers, tackle those who abuse our systems and make both our countries safer,’ she said.

On Nigeria’s part, Dunoma Ahmed, Permanent Secretary of the Ministry of Foreign Affairs, said migration remained one of the most important and visible aspects of the bilateral relationship.

Ahmed said cooperation on migration should not be limited to enforcement but should also create meaningful opportunities for legal migration and establish credible pathways for legitimate migrants.

‘Migration remains one of the most important and visible aspects of the UK-Nigeria relationship.

‘This dialogue must both cover enforcement activities as well as ensuring meaningful opportunities for legal migration, and credible opportunities for pathways for legitimate migrants,’ he said.

He added that the dialogue was ultimately aimed at strengthening the security, prosperity and safety of both countries and their citizens.

Again, gunmen kidnap father, son in Kwara, demand N20m ransom

Gunmen again struck in Kwara State to abduct a middle-aged man, Bamidele Matthew and his secondary school son, IbukunOluwa Bamidele.

According to one of the family members, Bamidele AKA Photo was on the farm with two of his children.

The source said: ‘Three of them were working on their farm at Idofin when the kidnappers kidnapped them; one of them escaped.’

He added that the son, who had just finished his secondary education, was on the farm, helping his father on the ill-fated day.

‘They were kidnapped on their farm where they were working; the kidnappers were not on a bike but stormed their farm where they were working,’ he informed.

He added that: ‘The kidnappers have telephoned the family, demanding a N20 million ransom.’

The daring kidnappers, according to the investigation, pounced on their victims at their farm between Odo-owa and Idofin, Kwara South senatorial area of Kwara State.

However, the family and the entire community have launched pleas to the state government and security agents for assistance that would ensure the release of the father and son.

‘We appeal to the Kwara State Government, the Nigerian Government, security agencies and the world at large to come to our rescue,’ they pleaded.

They have also, printed fliers bearing the pictures of the Bamideles, urging members of the public for help on who to contact on sighting them.

‘Please share this flyer. Every share could help bring them home,’ they urged.

Institutional responsibilities, professionalism pathways to drive tourism investment, enterprise – FTAN

In a bid to drive investment and boost enterprise growth in the Nigerian tourism industry, Aliyu Ajayi Badaki, president, Federation of Tourism Associations of Nigeria (FTAN), has called for the adoption of clear-cut institutional responsibilities, regulation and professional development, among others.

The above, Badaki stated, is a sure pathway to attracting investment and unlocking Nigeria’s tourism potential, which is hugely untapped.

According to him, the top agenda of the FTAN, which is the umbrella body for private sector operators in tourism, is still to be a meaningful voice in tourism policy formulation and implementation.

In his address at the 20th International Conference and Annual General Meeting of Hospitality and Tourism Management Association of Nigeria (HATMAN), which held in Awka, Anambra State, Badaki declared the need for clear institutional responsibilities, appropriate regulations, professional development, and an enabling environment that encourages investment and enterprise growth cannot be overemphasized.

”One of FTAN’s major priorities is ensuring that the organized-private sector has a meaningful voice in tourism policy formulation and implementation in Nigeria,’ he said at the Awka gathering.

”The private sector drives much of the daily activity within our industry. Our hotels, tour operators, travel agents, restaurants, event managers, and other tourism professionals understand the realities of operating tourism businesses.

”Their experiences and recommendations must therefore inform the policies and regulations that affect them.”

To achieve the above, according to him, requires FTAN to engage relevant government institutions on issues affecting the industry, including the implementation and harmonisation of the NTDA Act 2022 and the NIHOTOUR Act 2022.

”Our position is not opposition to regulation. We seek policies that promote professionalism, protect standards, and support the sustainable growth of tourism businesses.

”Tourism policies must be developed with the industry, not merely for the industry.

”Government must recognise the organised private sector as a strategic partner, not simply a stakeholder to be informed after decisions have been made,” he said.

Badaki, who is also chairman, Board of Trustees, HATMAN, called for partnership as the only means of achieving the desired end of tourism development and promotion.

”No single institution can transform Nigeria’s tourism industry alone. We need the government, professional associations, educational institutions, investors, technology providers, and tourism operators working towards common objectives.

”Through the Tourism Transformation Mandate, FTAN will continue to promote constructive engagement, stronger collaboration among associations, and evidence-based advocacy to ensure that the concerns and recommendations of tourism operators receive appropriate consideration.

”I call on HATMAN and other tourism associations to strengthen this collective effort. A united, organised, and professionally credible private sector will be better positioned to influence policy and contribute meaningfully to national tourism development.”

He commended the resilience of HATMAN’s members for their dedication to the sustenance of the association in the past 20 years, noting that two decades of sustaining the professional platform demonstrate HATMAN’s commitment to advancing hospitality and tourism in Nigeria.’

Speaking earlier on the theme of the conference, ‘Artificial Intelligence and the Digital Agenda: Implications for Global Transformation in Hospitality and Tourism’, he noted that it is timely as artificial intelligence and digital technology are changing how people go through the journey of discovering and experiencing destinations. ‘For Nigeria, these developments present opportunities to improve service delivery, reduce operating costs, expand market access, attract investment, and create employment,” Badaki said.

For a thriving and sustainable tourism industry, he called for skilled manpower development, infrastructure and collaboration among others.

”However, technology alone cannot transform our industry. We need skilled professionals, reliable infrastructure, supportive policies, and stronger collaboration among stakeholders.

”Our task is to combine technological innovation with the warmth of Nigerian hospitality, the richness of our culture, and the professionalism required to compete globally.”

He reiterated his commitment to the need for a more coordinated, structured, and result-oriented approach to tourism development.

”This informed my commitment to the Tourism Transformation Mandate (TTM)-a vision focused on strengthening tourism associations, promoting investment, improving professional standards, enhancing destination visibility, and building stronger partnerships between government and the private sector,” he said.

With the conference theme aligning with his TTM agenda, Badaki said: ”I therefore encourage HATMAN to prioritise digital skills development, the adoption of affordable technology by hospitality businesses, improved professional standards, and partnerships with educational institutions and technology providers.

”We must prepare our members not merely to adapt to technological change but to use it as a tool for growth and innovation.”

Badaki further disclosed: ”Through the Tourism Transformation Mandate, FTAN will continue to promote constructive engagement, stronger collaboration among associations, and evidence-based advocacy to ensure that the concerns and recommendations of tourism operators receive appropriate consideration.

”I call on HATMAN and other tourism associations to strengthen this collective effort. A united, organised, and professionally credible private sector will be better positioned to influence policy and contribute meaningfully to national tourism development.”

”As chairman, Board of Trustees, I encourage HATMAN to translate the knowledge gained from this conference into practical programmes that benefit its members.

”Let us equip our professionals with relevant digital skills, support small and medium-sized hospitality businesses, encourage innovation among young people, and strengthen collaboration with FTAN and relevant government agencies.

”Above all, let us measure our progress by the results we achieve-not merely by the conferences we organise or the policies we announce.

”Nigeria possesses enormous tourism potential. What we need is the collective commitment to convert that potential into investment, jobs, business growth, and sustainable economic development.”

He also reaffirmed his commitment, both as chairman of the Board of Trustees of HATMAN and president of FTAN, to advancing a more competitive, innovative, and professionally organised tourism industry.

”Let HATMAN champion professional excellence and digital readiness. Let FTAN strengthen private sector coordination and advocacy. Let the government provide an enabling policy environment and also take cognisance of the provisions of the Federal Republic of Nigeria 1999 (as amended) to avoid conflicts.

”And let all stakeholders work together to build a tourism industry that is inclusive, investment-ready, and globally competitive.

”The future of Nigerian tourism depends not only on the technology we adopt but also on the policies we implement, the partnerships we build, and the value we create for our people.”

HSBC’s quiet exit from South Africa: A strategic retreat, not failure

After three decades in South Africa, HSBC has surrendered its banking licence, ending its presence in a market it entered in 1995. The South African Reserve Bank withdrew authorisation for the bank’s Johannesburg branch effective September 18, 2026. The notice appeared in the Government Gazette on October 23.

The exit marks the end of a long-standing foreign banking presence, but it does not necessarily signal a loss of confidence in South Africa. Rather, it reflects HSBC’s decision to focus on markets and businesses that better fit its global strategy.

Three decades come to an end

HSBC established its South African operations in 1995, serving multinational companies, institutional investors and businesses involved in cross-border trade and finance. Its Johannesburg branch connected local clients to the bank’s international network, particularly in corporate and investment banking.

The departure was not sudden. HSBC announced its decision to leave South Africa in September 2024, making the licence withdrawal the final stage of a planned exit.

The bank also took steps to maintain continuity for clients. Its corporate and investment-banking business, including related assets and liabilities, was transferred to FirstRand’s Rand Merchant Bank (RMB). Absa agreed to continue providing access to South African equities and securities-financing services. HSBC’s private-banking representative office was also closed as part of the withdrawal process.

These arrangements suggest a controlled wind-down rather than a breakdown in the bank’s operations.

Why HSBC chose to leave …

South Africa remains home to one of the continent’s most developed financial markets. However, the sector is dominated by established lenders such as Standard Bank, FirstRand, Absa, Nedbank and Capitec.

These banks have extensive local networks, established customer relationships and a strong understanding of the domestic market. Competing against them can be expensive, particularly for a foreign institution without the scale to challenge local lenders across multiple banking services.

For HSBC, maintaining a presence in South Africa may no longer have offered enough strategic value to justify the cost and complexity.

The decision also fits a wider shift among international banks, which have been reviewing operations and concentrating resources on businesses where they have a stronger competitive advantage. HSBC has placed greater emphasis on its international network, particularly in Asia and other markets important to its global corporate, wealth-management and trade-finance businesses.

Leaving South Africa does not mean the bank has abandoned international banking. It means it has chosen to serve its global clients without maintaining the same direct presence in every market.

What the exit means for Africa …

HSBC’s departure should not be interpreted as a verdict on Africa as a whole. The economics of one banking operation cannot explain the investment prospects of an entire continent.

But the decision offers an important lesson. International banks are becoming more selective about where they operate and how they deploy capital. A presence in a market is no longer enough; the business must generate sufficient returns and offer a clear advantage over competitors.

For African markets, this could mean greater emphasis on specific opportunities such as trade finance, cross-border transactions, capital markets and advisory services rather than broad competition with established domestic lenders.

South Africa, meanwhile, is not losing access to international finance simply because HSBC has left. RMB and Absa have arrangements covering parts of the departing bank’s business, while local institutions remain central to the country’s financial system.

The bigger question is whether other international banks will reach similar conclusions about their own operations.

For HSBC, the exit is a strategic choice. For South Africa, it is a reminder that even a sophisticated financial market must offer foreign institutions a compelling commercial reason to stay.

Carrick explains Fernandes’ bench role for Man United vs Bournemouth clash

Michael Carrick says dropping Bruno Fernandes to the bench for Manchester United’s Premier League clash against Bournemouth was a ‘pure football’ decision, dismissing suggestions that the move was punishment for the captain’s criticism of his tactics.

Fernandes was named among the substitutes for Sunday’s match at Old Trafford, days after questioning United’s passive approach out of possession during their 4-1 defeat to Como in the Champions League.

Carrick, under pressure after United went seven games without a win in all competitions, said his selection was based on what he believed would give the team the best chance of producing a strong performance.

‘Picking the team is always a difficult decision,’ Carrick told Sky Sports. ‘We’ve got to make what we feel is the right one for the team to try to get the performance we want.’

He added: ‘When you have options, it’s always a difficult decision. We have to make the right one for today and the team to get that performance we want.’

The United manager rejected the suggestion that Fernandes had been dropped in response to his public comments, describing the decision as a footballing judgement.

Manchester United entered the clash with seven points from their opening seven matches. Carrick is under pressure to secure a result against Bournemouth and ease speculation surrounding his future.

Fernandes had criticised United’s defensive approach after Como’s emphatic victory in Italy, raising questions about the team’s tactics at a difficult moment in the season.

The Portugal international, 32, enjoyed an outstanding campaign last season, winning multiple individual awards and setting a Premier League record with 21 assists as United finished third. His influence has been more limited this season, apart from a hat-trick against Ipswich in August.

Carrick made four changes to his starting lineup, with Matheus Cunha, Matthijs de Ligt and Noussair Mazraoui also dropping out. Ayden Heaven, Leny Yoro, Carlos Baleba and Amad Diallo came into the side.

Fernandes’ remarks followed criticism from teammate Lisandro Martínez, who had questioned whether United’s board did enough to strengthen the squad during the transfer window.

Martínez, however, was not dropped for those comments and was replaced at half-time in last weekend’s 1-1 draw against Leeds after suffering an injury. He was named among the substitutes against Bournemouth.

Redeemers University’s IGH hackathon advances home-grown solutions for African health

Redeemers University’s Institute of Genomics and Global Health (IGH) hackathon has reiterated the need for interdisciplinary collaboration in proffering home-grown solutions for African health challenges.

This was the outcome of its 2026 XR and Al Genomics Hackathon, themed, ‘From Genome to Impact: XR and Al Solutions for African Health,’ culminating in a Demo Day at the IGH/ACEGID Auditorium, Redeemer’s University, Ede, Osun State.

The hackathon brought together participants from science, technology, 3D design and science communication to develop immersive learning experiences aimed at making complex genomic procedures easier to understand.

Adedayo Okunfolami, CITIO at IGH and convener, XR and Al Genomics hackathon 2026, stated that the central challenge is to ensure that emerging technologies are scientifically accurate, accessible to their intended users and connected to clearly defined needs.

According to him, Genomics can contribute to understanding health and disease, while immersive technologies can offer new ways to explain scientific concepts and practise selected procedures in simulated environments.

Five teams develop virtual reality prototypes for polymerase chain reaction (PCR), training as IGH builds its GenomicsXR platform and creates new pathways for the next generation of genomics talent.

Okunfolami stated that the initiative reflects IGH’s wider ambition to preserve the legacy of genomics education, encourage younger scientists to enter the field, and explore how emerging technologies can help people understand scientific processes that are often difficult to visualise.

‘At the centre of this effort is GenomicsXR, an extended reality (XR) product being developed to bring genomics activities and laboratory procedures into interactive virtual experiences.’

According to him, the 2026 hackathon focused on the next module PCR, a laboratory technique used to make many copies of a selected DNA segment for analysis; while its first module, DNA Extraction, was deployed in 2025.

Rather than asking one group to build the entire PCR experience, Okunfolami disclosed that the workflow was divided into five stages, while each stage was a team. ‘The result was five separate prototypes intended to contribute to a larger, connected learning experience.’

Adeleke Osho, Provost, Postgraduate School, Redeemer’s University and lead judge, announced the results of the hackathon on Demo Day,

According to him, team 5 emerged as the overall winner, followed by team 2 in second place and team 3 in third place. Accordingly, team 4 placed fourth, while team 1 finished fifth.

The results recognised the teams’ work in developing their respective stages. He also disclosed that the next step would see participants review and connect the separate contributions so that users can move through the PCR process as a single learning experience.

Cristina Nord: The Goethe-Institut boss pursuing literacy and mountain peaks

It is true what people say about mountains. You soon learn that once you start mountaineering, you can never run away. Not ever. The only way out is in. It is how Cristina Nord has got Mt Ololokwe, the Alps, and Satima under her thumb.

‘I started hiking in my mid-20s, and I have always loved it madly,’ she says. The Director of Goethe-Institut has the big three in her sights: Mt Kilimanjaro, Mt Kenya, and Mt Elgon.

When she is not climbing mountains, she is scaling the pages of books-the axes she uses to break her mind free.

Recently, she completed a 1,200-page novel by German writer Peter Weiss, The Aesthetics of Resistance.

In our age of short attention spans, she is an ascetic, resisting and renouncing the siren song of convenience.

‘In the present world, there is more the danger of under-intellectualising everything,’ she says. ‘Many people look for very simple answers to very complex questions, which can be misleading.’

What is it like to live your life?

I like being in Kenya, and I study Swahili, but I’m struggling, also because I’m learning the sanifu version of it. Also, when I’m not working, I like being in the mountains. I’ve made a few attempts on Mount Kenya, but failed because of the very bad weather.

There was a lot of snow, so we only managed to reach that pass between the Chogoria route and the Sirimon route, which is at 4,600 metres. I’ll retry it.

Has there been a noticeable change in your life since you started hiking?

I started hiking a long time ago when I was in my mid-20s, and since then I have always loved it madly.

Like this August, I spent a bit of time in the Alps, and I really do enjoy it. However, I realised that I have grown a bit older and no longer have the stamina and the strength I had when I was in my mid-20s. Sometimes I wish I had come to Kenya 15 years earlier, because then by now I would have climbed Kilimanjaro, Mount Kenya, Elgon, and whatnot.

How do you keep yourself going despite the circumstances of climbing the mountain?

Good question, because when I did Elephant Hill for the first time, there was a moment when I was like, “What am I doing here? Come on.” And that was before reaching ‘The Tail’ end, that steep part. I was really struggling; I had difficulty breathing, and my legs felt very weak.

I know that I do have quite a lot of willpower, which makes me push through. However, I also have an assessment for situations that might turn dangerous. Then for me, the decision to not proceed is also not too hard to take. But in a situation like climbing Elephant Hill, it is willpower. I can see that ultimately, I can do it.

What is the most useful thing you’ve learned about life from being outdoors?

That you can do with very little. That being able to limit your focus to an activity that is, on the one hand, very easy-walking-and on the other hand maybe sometimes a bit challenging because you need to scramble, or it’s raining cats and dogs and you still need to go.

I think that you can adapt to that and have the most stunning experiences. That is a lesson learned.

Over New Year’s 2024, we spent four days hiking Loita Hills, camping in tents with Maasai guides, without electricity, running water, or sanitary facilities. I remember crossing a swamp to find fresh water, where we took a quick bath. It was one of the most amazing experiences I’d had in a long time. Those memories help put everyday frustrations into perspective when I’m back at my computer [chuckles].

Where have you gone that surprised you the most?

The Amazon. My colleague was based in Salvador, which is a very beautiful Brazilian city. I had the fortune to visit him quite often while he was there, and we travelled quite a lot together in Brazil.

One time we did a prolonged boat tour for four days on the Amazon River in the northern part of Brazil. We started in the city of Manaus and went upstream from there, but it’s not exactly the Amazon; it’s called Rio Negro. Eventually, we stayed for four days at a place where, in the river, there is an archipelago of islands. That was just the most surprising landscape.

I think the reason why I connected so immensely with that landscape was also that part of my studies were Latin American literature and culture. I had read a lot of novels and cultural theory that deal with the jungle as a topos. I was in a place about which I had read a lot about, and that was something which made me connect.

Where do you still dream of going?

I would love to go to Senegal and spend time in Dakar. I think I would also love to spend more time in Nigeria, going to Ibadan for instance, and more time in Lagos. And one of the islands in Lake Turkana, like South Island or Central Island. Then I also have to admit that I haven’t been to a lot of national parks. I would also love to go to the Mount Elgon area.

You mentioned your intellectual life. What book has most influenced the way you understand people?

[chuckles] That is a very difficult question for someone who’s read countless books. I can say that Latin American literature has influenced me-the way someone like Jorge Luis Borges works with a very interesting sense of alternative realities.

During my time at university, I was very familiar with texts by Walter Benjamin, Theodor Adorno, post-structural thought from France like Jacques Derrida, and feminist theory as well.

When I was 25, I read that famous book by Judith Butler, Gender Trouble, which was also important, at least back then. There is another French philosopher called Michel Foucault who was also important for me. He wrote a book called (Surveiller et punir: Naissance de la prison), Discipline and Punish.

There, he describes how the prison system was developed in Europe, starting in the 16th century, and how the system of punishment was transformed from a punishment that would try to repeat the offense-like if you steal, someone cuts off your hand-to a different type of system. He would not describe that as a linear progress, but in a more neutral manner.

Do you read differently now as compared to your 20s?

I definitely do read differently, a bit to my dislike. Simply, I no longer have that time. When I was a student, my life consisted of reading. Now my life consists of managing this place, which is a great thing to do, but at the same time it comes with several challenges.

I’m sometimes so tired that when I start reading, I fall asleep.

However, going back to the willpower thing, I still manage to read fewer novels, of course. I just finished, three or four weeks ago, a novel that had been with me for a couple of months, a 1,200-page novel by German writer Peter Weiss called The Aesthetics of Resistance. I was very proud that I managed, even though I have a lot of things on my plate.

I also try to read Kenyan literature or literature about Kenya. Currently, History of the Hanged by David Anderson who wrote about the 50s and the state of emergency in Kenya. Living here and doing the job I do, it’s my positive obligation to learn more about Kenya and get acquainted with Kenyan writers.

Does reading about the world diminish its experience of it?

No, it enriches it, because there’s the saying: the more you know, the more you see.

Is there a danger to over-intellectualising your life?

I don’t know exactly what over-intellectualising would be. I’ve always been someone who enjoyed thinking, and thinking further, and seeing how that enables you to go beyond what you’ve already known.

Currently, in the world we are living in, there is more danger of under-intellectualising everything [chuckles]. A lot of people look for very simple answers to very complex questions on many levels, be it political, societal, or about how people live together. I think that is very misleading.

In which part of your life do you allow yourself to be messy?

[chuckles]

With the books next to my bed haha! On Sundays when I’m at home, and to a certain extent on my desk, which I probably shouldn’t be because we have clean desk policies. At home, my computer is a bit of a mess.

You spent time as a film critic. If your life were a movie, what do you think the audience would be shouting at the screen?

Haha! What would they shout? Well, in Germany nobody shouts when going to the movies! Some might be a bit intimidated, without me wanting to achieve that. Some might be a bit dissatisfied because the way I’m leading my life does not tick too many boxes, and others would maybe applaud precisely because of this.

What is something you believe more strongly now than you did 10 years ago?

The importance of understanding others, especially those who do not share your views. The importance of understanding the world as an interconnected place in which isolation does not lead anywhere.

Before coming to Kenya, I had lived in Central America for a year and travelled a lot in Latin America. But seeing the differences between Kenya and a place like Germany is a very concrete experience which makes me think a lot about different perceptions. At the same time, there are a lot of things people share worldwide; that’s why I say it’s interconnected.

Climate change is one example: Africa bears consequences of industrialisation it did little to drive. What happens in Europe affects Kenya, and vice versa. I’ve learned to appreciate this interconnectedness not just in theory, but in everyday life.

What habit has most improved your life?

Being less strict with myself. I still am, but learning how to be less demanding helped. Do you know this Freudian scheme of the ego, the id, and the superego? Keeping your superego in check is a good idea. It can be a nasty creature, and very gluttonous, as it never gets enough. When I was in my mid-20s, I was not so good about it.

I became a bit better, at least I hope [chuckles]. I don’t work on weekends, except for occasional events we have. I want to be very open towards people, not judgmental, which is one of the things Kenya taught me.

When I go to Germany now, at the beginning I enter a store and say, “Good morning, how are you?” and people look at me as if I were utterly crazy! That illustrates how warm Kenyans come across when you’re coming from a place where that type of friendly, open, welcoming behaviour is not the norm.

Which advice that you got has stood the test of time?

Try to keep your superego in check, in the sense that you need to listen to yourself. You are not a machine. You can’t go on tirelessly all the time; you can’t be alert 24/7. You need your breaks; you need your rest. Maybe that’s something that comes with age.

I’m 57 now, and I realise that I still have a lot of energy, but not the way I had 30 years ago.

What do you splurge on?

I do like food and wine, and exquisite food like strange combinations of tastes. Not particularly luxurious ingredients like lobster, but when I’m in Berlin, for instance, I enjoy going to places where you get locally sourced food cooked innovatively, pairing

it with nice natural wines.

What is your most Kenyan habit?

Nyama choma! And when someone says “Good morning,” I automatically say “Good morning,” even though I’m elsewhere. In Germany, if a moderator comes to a panel and greets the audience, people wouldn’t greet back, which is totally normal here, and I tend to do it everywhere now.

What’s your idea of a great weekend?

Hiking an Aberdare mountain peak on Saturday and doing nothing on Sunday. Or a regular weekend: going to yoga on Saturday morning, reading a bit, meeting friends in the evening, and the next day doing a relaxed hike somewhere in Kiambu, or swimming because I like swimming a lot.

Who do you know that I should know?

Suhaib Ibrahim, a Sudanese filmmaker based in Nairobi. He was one of the co-directors of a beautiful film about the outbreak of the civil war in Sudan called Khartoum.

He’s really cool and nice, knows a lot about filmmaking, and also about making ends meet and thriving when circumstances are dire.

What African central banks should consider as stablecoins use rises

Africa’s next monetary policy challenge may not originate in a domestic banking crisis or a sudden shift in global interest rates. It could emerge from the growing use of digital dollars that allow households and businesses to hold and transfer value outside conventional banking channels.

The adoption of dollar-denominated stablecoins, cryptocurrencies engineered to minimise price volatility, is increasingly being promoted as a solution to Africa’s expensive, slow and fragmented cross-border payment systems.

However, beneath these benefits lies a more consequential development. Stablecoins could change where African savings are held, how domestic banks finance lending and how effectively central banks influence monetary conditions. They could also deepen the reach of the US dollar into economies whose monetary authorities are working to strengthen domestic currencies and financial resilience.

The question for African policymakers is therefore not simply whether stablecoins make payments more efficient. It is whether the risks associated with their adoption are being transferred beyond the reach of national regulators and whether Africa is prepared for the consequences.

Stablecoins are digital tokens designed to maintain a relatively stable value against an underlying asset, most commonly the US dollar.

Their issuers typically hold reserve assets, which may include cash, bank deposits and short-term US Treasury securities, to support redemption at the promised value.

As the market grows, stablecoins can create an additional channel for international demand for dollar-denominated assets. For the US, a larger stablecoin market can strengthen the international reach of the dollar and potentially support demand for US government securities.

The scale of any additional demand depends, however, on where stablecoin funding originates and how issuers manage their reserves.

For African economies, the more immediate concern is the possibility that digital access to dollars could accelerate currency substitution. Where confidence in domestic currencies is weak, stablecoins may offer households and businesses a convenient means of holding dollar-denominated value without relying exclusively on traditional foreign-currency accounts.

This is not merely a technological shift. It could gradually change the relationship between domestic money, savings and economic activity.

So, what should African central banks watch out for?

The first question is whether stablecoins are primarily being used for payments or increasingly as a store of value. A business receiving digital dollars and immediately converting them into local currency creates a different monetary exposure from one retaining its revenues, savings and working capital in dollar stablecoins.

As access becomes easier, currency substitution could accelerate, particularly in economies already experiencing inflation or exchange rate instability.

The second concern is the potential impact on domestic banking systems. If businesses and households increasingly hold dollar stablecoins instead of local bank deposits, this could affect deposit funding, credit availability and monetary policy transmission. The impact depends on where the underlying funds ultimately sit, but central banks need to understand whether financial activity is migrating away from domestic institutions and how this changes their capacity to influence liquidity and lending conditions.

Third, stablecoins introduce dependencies on foreign issuers, reserve custodians and banking partners. Domestic regulators may supervise local payment providers without having direct oversight of the institutions holding the underlying reserves.

In a period of financial stress, the ability to redeem stablecoins depends on those institutions and their access to dollar liquidity. African central banks cannot create the foreign currency required to meet those obligations. Finally, regulatory frameworks need to account for these cross-border dependencies.

Supervising domestic intermediaries is insufficient without understanding reserve structures, redemption arrangements, concentration risks and the legal rights of stablecoin holders. Cooperation with foreign regulators will become increasingly relevant as adoption grows.

Stablecoins offer opportunities to improve payments, facilitate trade and expand access to international financial services.

However, their growing adoption also has implications for the distribution of savings, the funding of domestic banks and the effectiveness of monetary policy.

For African central banks, the priority should be to understand where financial risk and liquidity are being reallocated, and whether the efficiency gains from stablecoins come at the expense of greater dependence on foreign monetary systems. The question is not simply how to regulate a new payment instrument, but how its adoption could reshape the structure of African financial markets.

Abia to host AFRICANDO 2026, set to showcase state to the world

The Abia State Government has announced plans to host the 2026 edition of AfrICANDO, the United States of America-Africa Trade and Investment Conference and Expo, scheduled for November 17 to 19, 2026, at the International Conference Centre, Umuahia.

The event, which will bring together government officials, business leaders, investors, policymakers, development institutions and other stakeholders from the United States and Africa, is expected to provide Abia with an international platform to present its investment opportunities and position itself as an emerging destination for trade, innovation and industrial development.

AfrICANDO 2026 is being hosted by the Abia State Government and co-organised by the Foundation for Democracy in Africa (FDA) and the Abia Global Chamber of Commerce.

According to Ferdinand Ekeoma, Special Adviser to the Abia State Governor on Media and Publicity, the conference, which returns to the African continent, is themed ‘Deepening U.S.-Africa Commercial Ties in the Era of AfCFTA.

‘It is designed to strengthen commercial cooperation, promote cross-border trade and investment, and explore opportunities arising from the African Continental Free Trade Area (AfCFTA).

He said that the conference will provide a unique opportunity for Abia State to showcase its economic potential to the international community, establish strategic partnerships and attract investors to its productive sectors.

AfrICANDO 2026, according to Ekeoma, will feature plenary sessions, policy forums, sector-specific workshops, business-to-business matchmaking, exhibitions and the Medal of Glory Awards (MOGA) Gala Dinner.

He said that the activities are expected to facilitate meaningful engagement among public and private-sector stakeholders while encouraging partnerships capable of generating sustainable economic benefits.

Key sectors to be featured include agriculture, consumer goods, energy, financial services, healthcare, manufacturing, transportation and logistics, academic science and technology, and artificial intelligence. Participants will explore practical ways to accelerate the implementation of AfCFTA, expand U.S.-Africa trade and investment, improve the export readiness of small and medium-sized enterprises (SMEs), and promote innovation, manufacturing and the creative industry.

The conference is also expected to provide opportunities for entrepreneurs and business owners to identify new markets, connect with potential investors, gain insights into international trade regulations and establish commercial relationships with counterparts in the United States and other African countries.

SMEs and civil society organisations will have opportunities to build business linkages and partnerships with U.S. companies, thereby contributing to the expansion of trade, investment and cultural relations between both regions.

It is important to add that beyond the conference sessions, the event is expected to create opportunities for investors and business leaders to assess the state’s economic environment, engage relevant stakeholders and explore possible areas of collaboration.

The event will also offer sponsorship, advertising and exhibition opportunities for businesses, corporate organisations and development institutions seeking visibility among government officials, investors and industry leaders from Africa and the United States.

With its emphasis on trade facilitation, investment promotion and international partnerships, AfrICANDO 2026 is expected to strengthen Abia State’s engagement with the global business community and create opportunities for local enterprises to access wider markets.

Ekeoma noted that the hosting of the conference aligns with the broader objective of positioning Abia, as a competitive destination for business, investment and industrial growth, while showcasing the state’s capacity to host international engagements.

As preparations gather momentum, the three-day conference is expected to place Umuahia at the centre of conversations on U.S.-Africa commercial relations and provide a platform for Abia State to demonstrate its economic strengths, connect local businesses with international opportunities and deepen its participation in the expanding African and global marketplace, Ekeoma stated.