Asianet Pakistan Private Limited

Africa’s agribusiness conversation is changing. For years, the question was whether the continent should process more of what it grows.

That question is largely settled. The question now is who can process competitively, at scale, for international buyers who source from established hubs. West and Central Africa grow a large share of the world’s cocoa, cashew, sesame and other export crops, yet most of it still leaves the region raw.

Africa produces about 70 percent of the world’s cocoa but accounts for less than a quarter of global grinding, and it grows around 60 percent of the world’s raw cashew nuts, most of which are shipped to Asia for processing.

Across the continent, 46 of 54 countries still earn more than 60 percent of their export revenue from unprocessed commodities. The picture is starting to shift: West Africa processed about 732,000 tonnes of cashew in 2025, 51 percent more than the year before, with Côte d’Ivoire leading the way.

At Sunbeth Global Concepts, we are building a company that sources, trades, processes and exports agricultural commodities from four countries: Nigeria, Ghana, Cameroon and Côte d’Ivoire. Since 2017, our exports have included more than 200,000 metric tonnes of cocoa beans and 60,000 metric tonnes of cashew nuts, alongside sesame, soybeans and other agricultural commodities. Processing is the next step, and it builds on that foundation.

Our first processing plants, a 70,000-tonne cocoa factory and an 80,000-tonne cashew plant in Sagamu, Ogun State, are scheduled for commissioning in March 2027. They are the first stage of a processing footprint designed to draw on all four of our origins.

For an export company, this is a deliberate expansion. We know these crops, the farmers who grow them and the buyers who want them, and processing lets us offer those buyers more. As the team delivering these plants, we have a practical view of what makes local processing competitive. It comes down to five things.

Supply is built, not bought

A processing plant is only as productive as the raw material it receives. Processors that compete well treat farmer relationships as part of the plant’s design. We work directly with more than 30,000 farmers and a network of local buying agents across the countries where we operate. Through our sustainability programmes, including the Orange Cocoa Sustainability Framework, we invest in farmer training, quality improvement and partnerships. Because the same sourcing network serves both our export business and our plants, we can plan supply across both.

One network, four origins

Operating across four countries gives buyers a single, accountable partner for several origins and several crops, and it gives us the ability to plan supply, trade and shipping across markets rather than one at a time. Crops, seasons and volumes vary by country, and a network that spans several origins can feed processing plants more steadily than any single market can. It is also a bet on Africa trading with Africa.

In Ghana, we became the first Nigerian company in decades to receive a licence from the Ghana Cocoa Marketing Company to buy cocoa directly. Processing deepens that offer. The plants add finished products to a network that already moves raw commodities between origins and the world’s buyers.

Efficiency is designed in

Reliability is what international buyers value most in a supplier: shipments that leave on schedule, product that meets specification, and documentation that is right the first time. We are carrying that discipline into every plant we build.

Our facilities are new and purpose-built, with power, production flow and quality control planned together from the design stage, so each one can run consistently from its first day.

Skills decide quality

Export-grade products demand precise control of moisture, temperature and hygiene. The machinery matters, but the people who run it matter more. Engineers, quality managers, maintenance technicians and logistics professionals are the backbone of any competitive plant. Developing that workforce, much of it young and African, is as important to us as installing the equipment.

Buyers set the standard

Processing pays only if the product meets the requirements of international customers, and each crop carries its own: deforestation rules for cocoa, residue and aflatoxin limits for nuts and seeds, and traceability for all of them. One of the most significant is the European Union’s Deforestation Regulation.

From 30 December 2026, large and medium-sized companies placing covered commodities, including cocoa, on the EU market must show they are deforestation-free.

Smaller businesses follow on 30 June 2027. Exporters already work to these standards every day. We supply global buyers including Cargill, Touton and StoneX, and that experience goes straight into how our plants will source, document and deliver.

None of these factors stands alone. A plant has to get all five right together. Africa can do this.

The continent has the crops, the farmers and a growing base of companies ready to invest. What will make the difference is coordination among processors, farmers, financiers and governments, so that each new project builds on the last.

What we are building in Sagamu is the first stage of a larger build across our four markets. The measure of success will be whether the factories run at capacity, farmers are paid fairly and African products earn their place on international shelves. That is the standard we intend to be held to.

Dangote Petroleum Refinery exported at least 208,000 metric tons of premium motor spirit in five cargoes between Oct. 30 and Nov. 6, with most of the fuel bound for West African buyers, according to vessel movement records reviewed by Petroleumprice.ng.

The shipments show the refinery selling petrol across the region, adding to Nigeria’s push to become a supplier of refined fuel rather than a buyer of it.

Five vessels carried the cargoes: UM Balwa, NCC Qamar, Precious Balboa, UM Kiso and Fair Wonder. Each took between 40,000 and 44,000 tons.

The heaviest loading came on Oct. 30, when three vessels left with a combined 128,000 tons of petrol. UM Balwa and Precious Balboa each carried 44,000 tons to West Africa. NCC Qamar took the remaining 40,000 tons.

The records list NCC Qamar’s cargo as ‘export without a specific receiving country or port.’ That leaves its final destination unclear. The other four cargoes, totalling 168,000 tons, were explicitly assigned to West African markets.

Another 40,000-ton cargo followed on Nov. 3 aboard UM Kiso, which was bound for Tema, Ghana. The same vessel and volume appear again in the Nov. 4 records. Petroleumprice.ng treated that entry as ‘a repeated record of the shipment rather than a separate export,’ so it is counted once in the 208,000-ton total.

The latest cargo in the period was recorded on Nov. 6, when Fair Wonder carried 40,000 tons to West Africa.

The refinery also kept exporting other refined products during the period, including aviation fuel and automotive gas oil, or diesel. Those shipments are not included in the petrol total.

Petrol exports matter because the fuel has long been at the center of Nigeria’s supply problems. For years the country relied heavily on imported cargoes to meet domestic demand. Sending petrol abroad in repeated, large-volume lots marks a shift in how Nigerian-refined fuel is being used.

The records don’t say how the volumes compare with domestic sales or with the refinery’s total output over the period. They also don’t name buyers, give prices or describe the contract terms behind the cargoes. Without that information, it is hard to judge whether the exports reflect a steady commercial strategy or one-off sales of surplus fuel.

Ghana’s Tema port is the only specific destination named in the records. Tema is one of West Africa’s main fuel-receiving terminals. The other cargoes are listed only as headed to the broader region.

Analysts who track the market will likely watch whether such shipments continue at a similar pace in the coming weeks. A steady flow would suggest the refinery is building lasting commercial links with neighbouring importers. A drop-off might point to supply being pulled back to the home market, or to shipping and scheduling constraints.

The petrol shipments ‘underscore the refinery’s participation in regional petroleum product trade,’ the report said, noting that West Africa remained a clearly identified destination for a significant share of cargoes.

For Nigerian fuel consumers, the question is whether exports leave enough product at home. For buyers elsewhere in West Africa, the cargoes offer a nearby alternative to supplies that previously came from farther afield. Both questions will become clearer as more shipping data arrives.

RONKE AKINLEYE is an experienced executive with a strong background in the mortgage industry. She holds a Bachelor of Science in Mathematics and Statistics from the University of Lagos. Akinleye is the Group Head of Commercial Mortgage at Imperial Homes Mortgage Bank and has, at one time, served as Executive Director of Business Development and Operations at Gateway Mortgage Bank Limited. In this interview with CHUKA UROKO, she highlights the barriers women in mortgage experience due to legal, cultural, financial, and institutional realities, adding, however, that women also play a stabilizing role in the industry. She also speaks on other mortgage issues, including low penetration and poor awareness levels. Excerpts

Historically, finance has been a major issue in housing development. How would you assess the current state of housing finance in Nigeria?

The housing finance sector in Nigeria remains underdeveloped relative to the scale of demand. Mortgage penetration is still extremely low (well below 1 percent of GDP), largely due to high interest rates, short loan tenors, and limited access to long-term funding.

From my experience, Nigeria’s housing finance system is evolving, with stronger government intervention and private sector involvement. The major traction in housing finance in recent times is the availability of multiple schemes of government-backed low-interest mortgages.

These are Help-to-Own mortgages by Family Homes Fund Limited (FHFL), Ministry of Finance Real Estate Investment Fund (MREIF) by the Ministry of Finance Incorporated (MOFI), Mortgage Refinance by Nigeria Mortgage Refinance Company (NMRC), and National Housing Fund (NHF) by Federal Mortgage Bank of Nigeria (FMBN).

Each of those options targets different income groups, with trade-offs in interest rates, equity contribution, and processing speed. However, without deeper mortgage reforms, improved land administration, and macroeconomic performance, the housing deficit could widen beyond 17-28 million units.

Mortgage banking is male-dominated, especially at executive positions. What barriers have you observed or experienced as a woman in this sector?

Women’s challenges in Nigeria’s mortgage ecosystem cut across legal, cultural, financial, and institutional realities that differ markedly from Western mortgage markets. These barriers affect women both as mortgage professionals and as borrowers/homeowners, often reinforcing one another.

As a woman practitioner in the mortgage subsector, it is apparent that women make up a large share of processors and support roles, but they remain significantly underrepresented in senior leadership and executive positions.

The leadership positions in mortgage banks remain male-dominated. Moreover, cultural expectations continue to influence perceptions of women in finance and property. For instance, housing provision is often socially framed as a male responsibility, discouraging women from independent mortgage engagement.

Married women may face scrutiny or resistance when pursuing mortgages in their own names. As part of legal requirements, married women may have constraints in obtaining spousal consent in concluding a mortgage transaction.

The option of joint titling practices often masks women’s ownership rights and limits their independent borrowing power. In addition, sexual harassment and retaliation remain real issues in financial institutions. These experiences create psychological stress, career disruption, and mistrust in reporting systems, particularly when employers fail to act promptly or transparently.

How does diversity in leadership impact decision-making in mortgage institutions?

Leadership diversity cuts across gender, ethnicity, and professional background. In my experience, gender diversity brings more balanced and inclusive decision-making.

For example, women leaders often bring strong risk awareness and customer-centric thinking. Diversity in leadership improves corporate governance and innovation.

It is important to state that the CBN Corporate Governance Guidelines (2023) explicitly prohibit single-gender boards and require skills diversity, recognizing that diversity strengthens supervisory decision-making in financial institutions.

Institutions that embrace diversity tend to understand better underserved segments, including informal workers and female homeowners.

What are the biggest constraints limiting mortgage penetration in Nigeria?

As mentioned earlier, mortgage penetration in Nigeria is below 1percent of GDP, which is one of the lowest rates globally, despite an estimated housing deficit of N15-28 million units. The constraints are deep-rooted and structural rather than a lack of demand. The limiting factors are categorized as:

*Affordability of a customer: This is typically driven by interest rate and tenor. As a result of high interest rate which ranges between 18 percent and 28 percent, a and short tenor between 5 and 15 years compared with what obtains in more developed markets. This may sharply increase monthly repayments and impact negatively on affordability.

*High Down Payment Requirements: Most Primary Mortgage Banks require borrowers to pay 20 percent to 30 percent equity contribution upfront. For a ?20-million property, that is ?4-6 million cash. This a huge barrier for most aspiring homeowners.

*Limited Mortgage Awareness: Many Nigerians still believe mortgages are only for the rich. Others don’t know where to start or which institutions to approach. This lack of mortgage awareness keeps people stuck in the rental cycle, and that is a big problem.

*Macroeconomic Volatility: Currency depreciation, inflation spikes, and unstable growth raise both lenders’ funding costs and borrowers’ repayment risk. For instance, the cost of construction has tripled between 2023-2024, which further distort mortgage affordability by pushing home prices higher.

*Land Titling, Registry, and Foreclosure Bottlenecks: Considering the high cost and delays in obtaining Certificates of Occupancy; multiple consent requirements; weak and slow foreclosure processes are critical issues that raise credit risk and discourage banks from long-term housing exposure

*Ineffective Scale of Public Housing Finance Schemes: While the NHF, and newer interventions such as MREIF, and FHF exist, access is limited by the mortgage partners due to the stringent requirements set by the fund managers.

*Strict Lending Requirements: Mortgage lenders in Nigeria often set strict requirements, including, proof of steady income, credit history (which many Nigerians don’t have), collateral and legal property documentation.

Many Nigerians would like to borrow to own homes but cannot. How can institutions like yours better manage affordability challenges for them?

Institutions can manage borrower affordability challenges more effectively by redesigning mortgage products for both the demand (property buyers) and supply sides (real estate developers) of the market, and improved credit – underwriting framework that cuts across informal sector.

It is also exigent that requirements for accessing government intervention funding scheme (FHF, MREIF, NHF) by mortgage lenders should be more flexible. In addition, engagement with stakeholders in the mortgage ecosystem (government, real estate developers, fund managers, PMBs) in addressing the supply side of the market is germane, especially in tackling the construction cost, which is very fundamental to the price of property

As a player, what, in your view, is the role mortgage banks play in expanding access to housing finance?

Mortgage banks act as specialized financial intermediaries that bridge the gap between individual homebuyers and available capital, playing a critical role in increasing access to housing finance by originating, funding, and servicing long-term loans.

They transform the prohibitively high cost of purchasing a home into manageable monthly payments over extended periods. The Primary Mortgage Banks, through Mortgage Bankers Association of Nigeria (MBAN) were one of the stakeholders that played a critical role in the Pension Reform Act 2004 that introduced the Retirement Savings Account, which was to address the burden of down payments for mortgage, thereby making homeownership more accessible.

MBAN is very aggressive in sensitizing the market on affordable mortgage through the government intervention fund schemes (MREIF, FHF, NHF, NMRC) and providing insights to homebuyers on how to access mortgage at lower interest rates.

What trends should stakeholders watch out for in the mortgage market in the years ahead?

One of the most important trends is the rise of blended finance, which is already enabling single-digit mortgage rates and lowering down payments in specific schemes.

For instance, there will be expansion of vehicles like MOFI-managed funds, FHF, NMRC refinancing, and housing guarantee schemes. There will be more explicit risk-sharing between government and lenders. Digitization of mortgage process should be a major concern for all stakeholders in the ecosystem.

Not as an IT upgrade, but as a core strategic transformation. In today’s environment, digitization is no longer optional; it is essential for affordability, scale, risk control, and competitiveness, especially in markets like Nigeria.

Recapitalization of the PMBs: In today’s housing-finance environment, recapitalization is not just a regulatory issue; it is a survival, scale, and credibility issue.

Environmental, Social and Governance (ESG) Framework: This is not a reporting exercise alone. In mortgage lending, it directly influences who gets financed, at what cost, how risks are priced, and how institutions access funding. Strong ESG integration enables access to blended funds, Development Finance Institutions (DFIs), ESG-linked and green credit lines.

In conclusion, Nigeria’s mortgage banking sector sits at a critical turning point. While demand for housing finance is enormous, structural, macroeconomic, and institutional constraints continue to limit mortgage penetration. The future outlook is therefore cautiously optimistic, with progress expected to be gradual rather than transformational.

The Plateau State Government has announced the resumption of field operations by officers of the Vehicle Inspection Office (VIO) from Monday, November 9, 2026, following the suspension of their activities for more than a month over reported attacks and harassment of officers while on duty.

Davou Jatau, the Commissioner for Transport announced this during a briefing in Jos, explaining that the government suspended the operations on September 19, 2026, to allow consultations with stakeholders and address concerns surrounding the conduct of VIO officers and members of the public.

Jatau said the suspension was mutually agreed upon to create an opportunity for constructive engagement and find an acceptable way forward, adding that the government had consulted the Traditional Council, Nigerian Union of Journalists, Public Complaints Commission, Christian Association of Nigeria, civil society organisations, the Nigerian Labour Congress and the Nigerian Union of Road Transport Workers.

According to him, ‘The engagement provided an opportunity for frank discussions, constructive feedback and valuable recommendations on how to improve our operations, strengthen public relations and ensure that our officers discharge their responsibilities with professionalism, courtesy and respect for the rights of members of the public.’

He added that the resumption would not be a return to business as usual, but a renewed commitment to professionalism, accountability and respect for motorists, warning that officers deployed to the field must conduct themselves in a manner that promotes responsible public service.

The commissioner disclosed that two suspects, identified as Kobe and Aweng, had been apprehended in connection with the last two incidents of assault on vehicle inspection officers and were currently being prosecuted by the police.

He urged members of the public to report cases of misconduct, harassment and intimidation through the Ministry’s official channels.

Jatau appealed to motorists to cooperate with authorised VIO officers and comply with traffic and vehicle safety regulations, stressing that the responsibility of the office was to improve vehicle roadworthiness and protect lives and property, rather than intimidate or inconvenience members of the public.

Efforts to strengthen food security and transform livestock production have received a major boost as the Federal Government completes 21 model veterinary hospitals across 21 States to improve animal health and raise productivity in the sector.

Idi Mukhtar Maiha, Minister of Livestock Development, who spoke while inaugurating one of the hospitals in Ondo Town, Ondo West Local Government Area of Ondo State, said the hospitals were to reposition Nigeria’s livestock sector as a major driver of national economic growth, food security, employment generation, and sustainable livelihood.

According to him, the hospitals are constructed and equipped through the World Bank-supported Livestock Productivity and Resilience Support Project (L-PRES).

‘These hospitals are dear to President Tinubu, with plans to extend similar interventions to the remaining 15 states and the Federal Capital Territory (FCT). Very soon, every local government will have one fully functional veterinary clinic.

‘Mr President’s directive is that veterinary services should be running after the farmers, stay ahead of the farmer’s needs, and not the other way round. We are conscious of this, and we are bringing these facilities to the last miles.

‘Our vision is to ensure that veterinary services are not confined to government facilities, but are accessible to farmers wherever production and commercial activities take place,’ Maiha said.

The minister, therefore, called on State Governments to continue strengthening the self-veterinary workforce through the recruitment and deployment of additional veterinarians and veterinary professionals.

‘Today we have one veterinary doctor to 10,000 animals. That is not acceptable. We must reduce the number.

‘We want good meat. We want healthy meat. We also want to access the international red meat market. We must reduce our disease burden and control all zoonotic diseases,’ he said.

Earlier, Sanusi Abubakar, National Project Coordinator (NPC) L-PRES, said the facilities were intended for expanded access to quality veterinary service and bring professional animal healthcare closer to livestock farmers in the country.

Abubakar also said the project was coordinated by the national and state project coordination office to enhance livestock production, healthcare and marketing.

‘The modern livestock market is a strategic investment in the value chain and the facilities will create economic opportunities for farmers, transporters, and processors,’ he said.

Governor Lucky Aiyedatiwa, who also spoke at the event, commended the Federal Government, saying the project was a testament to the collaboration between federal and state governments in transforming Nigeria’s livestock sector.

Governor Aiyedatiwa, represented by Leye Akinola, State Commissioner for Agriculture and Forestry, urged farmers, traders and stakeholders to take full advantage of the hospital and the modern livestock market inaugurated with it.

He explained that the establishment would increase commercial activities, improve access to markets, enhance opportunity for livestock farmers and ensure greater economic benefit for the host community and the state at large.

Similarly, the Osemawe of Ondo Kingdom, Victor Kiladejo, commended the Federal Government for establishing the hospital in the town.

He assured that all measures would be taken to ensure maintenance and the fulfilment of Federal Government aspirations.

BHM Holdings has appointed new managing directors for two of its operating companies following the completion of its first private placement and the formalisation of a new group structure.

Iretomiwa Akintunde-Johnson will become managing director of BHM, while Njideka Akabogu will become managing director of ID Africa. Both appointments take effect on 1 January 2027.

Ayeni Adekunle, founder has become group chief executive officer and board chair of BHM Holdings, effective 6 November 2026.

He will lead investment, governance, technology, talent and international growth, while handing day-to-day responsibility for the operating companies to their respective executives.

‘Capital is most useful when it strengthens the institution,’ Ayeni said, while speaking on the appointments.

‘Our priorities are clear: proprietary technology, better services, international expansion and the development of leaders who can build each company independently while benefiting from the capabilities of the wider group.’

BHM, ID Africa and Plaqad now operate as companies within BHM Holdings. Plaqad is led by Joseph Enesu, who pioneered BHM AI Labs and the development of Plaqad Intelligence.

The group completed a private placement in August 2026 and did not disclosed the amount raised or participating investors.

BHM Holdings said the proceeds would be deployed into technology and new services, including the continued development of its AI-powered communications and intelligence platform.

Founded in Lagos in 2006, BHM Holdings now operates through BHM, ID Africa and Plaqad. BHM works directly or through franchises in Nigeria, the UK and the US, while ID Africa operates in Nigeria, Kenya, Tanzania and Ghana.

The group has more than 100 full-time employees, contract professionals and associate fellows, and an extended ecosystem of more than 500 vendors, creators, freelancers, influencers and partners.

OPay, a leading digital bank in Nigeria, has opened a new office in Kano as it seeks to strengthen customer support and expand engagement with merchants in one of Northern Nigeria’s major commercial centres.

The office, located on Hadeja Road near Yankaba Market, will serve as a support hub for customers, merchants and business partners, offering a physical point of contact for assistance, business engagement and service-related issues.

The expansion comes as digital financial services providers deepen their engagement with merchants and consumers across Nigeria, where access to reliable payment infrastructure remains critical to business transactions and financial inclusion.

Kano’s importance as a trading and commercial hub makes it a strategic location for OPay to strengthen its merchant network and improve access to digital payment solutions among businesses in the region.

Speaking at the opening, Ifeoma Mba, Chief People Officer at OPay, said the office would bring the company closer to customers and enable it to better understand their needs.

‘Our commitment is to be closer to the people and communities we serve. Opening this office in Kano means more customers and businesses can access the support they need, while giving us a better opportunity to understand their needs,’ Mba said.

She added that the company would continue investing in Nigeria and supporting individuals and businesses through accessible digital financial services.

OPay commenced operations in Nigeria in 2018, offering services including money transfers, bill payments, card transactions, airtime and data purchases, savings and merchant payments.

For the company, the Kano office would strengthen engagement with local merchants and business owners, helping them access digital payment solutions for managing transactions and serving customers.

OPay’s expansion also reflects the growing importance of physical customer-support infrastructure alongside digital platforms, particularly for businesses and consumers requiring assistance with financial transactions.

The company’s operations across Nigeria would continue as usual, with services available to customers and merchants.

OPay is licensed by the Central Bank of Nigeria and insured by the Nigeria Deposit Insurance Corporation, with deposit insurance coverage comparable to that of commercial banks.

Wave Mobile Money is stepping up its ambition to reduce Africa’s dependence on cash, leveraging a user base of more than 25 million monthly active customers across 11 countries as competition intensifies in the continent’s digital payments market.

The Senegal-founded fintech is positioning affordable mobile money services as a major instrument for expanding financial inclusion, enabling individuals and businesses to send and receive money and manage everyday payments without relying entirely on traditional banking infrastructure.

Its ambition to make Africa the world’s first cashless continent received fresh recognition at the Africa Financial Summit (AFIS) 2026 in Luanda, Angola, where the company won the African Disrupter Award for its contribution to transforming access to financial services. The award comes as African financial institutions and technology companies increasingly compete to capture transactions in markets where cash remains widely used, particularly among small businesses, informal traders and populations with limited access to conventional banking services.

Wave’s business model centres on making mobile financial services affordable and straightforward, with an emphasis on transparent pricing and a simplified user experience. The company has built a presence in 11 African countries, employing more than 4,000 people.

However, its growing user base also highlights the scale of the opportunity in Africa’s digital payments market, where expanding mobile connectivity has created opportunities for financial technology companies to reach customers underserved by traditional financial institutions.

At AFIS 2026, Wave used its position as a Diamond Sponsor to engage regulators, financial institutions and industry leaders on the future of financial services, including consumer protection, payment system interoperability and the role of emerging technologies in financial inclusion.

‘Making financial services affordable and simple to use can change what is possible for millions of people and businesses. This award recognises that ambition, as well as the work our teams do every day to make it a reality,’ said Coura Tine Sene, regional director and head of Public Affairs at Wave.

She said the company remained committed to working with regulators and industry partners to ensure that innovation translated into practical improvements in people’s daily lives.

Beyond mobile money transactions

Wave’s strategy also reflects a broader shift in Africa’s financial technology industry, where the next phase of growth may depend on moving beyond basic money transfers to deeper financial services, including savings, credit and merchant payments.

One of the areas discussed at the summit was the use of alternative data to improve access to credit for women entrepreneurs.

During the Women In panel, Sene examined how alternative credit assessment models could help financial institutions reach women who lack conventional credit histories.

Such models could potentially allow lenders to assess borrowers using non-traditional financial information. However, the discussions also highlighted the need for safeguards against gender bias and other forms of discrimination in automated credit assessments.

The issue is significant for Africa’s small-business economy, where many entrepreneurs operate outside formal financial systems and struggle to meet conventional lending requirements.

Wave also participated in discussions on stablecoins, payment traceability and financial supervision, reflecting the growing intersection between mobile money, digital assets and the regulation of increasingly interconnected payment systems.

Awa Gueye, public policy lead at Wave, participated in a session examining stablecoins and their place in the changing digital financial landscape, while El Hadji Malick Gueye, managing director of Wave Senegal, joined a roundtable on payment traceability, coordinated supervision and financial stability.

The discussions underscore the regulatory challenges facing mobile money operators as digital transactions expand across borders and financial systems become more interconnected.

For Wave, sustaining growth will require more than increasing the number of registered or active users. Building consumer trust, maintaining affordable transaction costs, expanding merchant acceptance and working within different regulatory environments will remain important to its expansion.

The company’s ambition to accelerate Africa’s transition towards cashless payments also faces structural challenges, including limited digital infrastructure, uneven financial literacy, affordability constraints and the continued preference for cash transactions in informal markets.

Regulatory cooperation will therefore be critical to the development of digital financial services, particularly as governments seek to encourage innovation while protecting consumers and maintaining financial stability.

At a side event hosted by AXIAN, Wave participated in discussions on how collaboration between regulators and financial service providers could support innovation, strengthen consumer protection and improve payment systems.

The company said its participation at AFIS reflected its commitment to engaging with the wider financial ecosystem to remove barriers to financial services.

With more than 25 million monthly active users, Wave has established a significant operating presence across 11 African countries. Its next challenge will be converting that reach into deeper financial participation and wider adoption of digital payments among individuals and businesses.

The African Disrupter Award provides recognition of its growth and business model, but the larger test will be whether affordable mobile money can help shift everyday economic activity away from cash and towards a more inclusive digital financial system.

Kunle Ahmed, chief executive officer of AXA Mansard Insurance Plc, is strengthening the company’s position for market leadership through a strategic focus on innovation, customer-centric services, institutional resilience and efforts to deepen insurance penetration in Nigeria.

Under his leadership, AXA Mansard has continued to pursue a business strategy centred on making insurance more accessible, improving customer experience and building a resilient institution capable of responding to changing market demands.

Ahmed’s approach also reflects his broader commitment to the development of Nigeria’s insurance industry, drawing on his experience as a former chairman of the Nigerian Insurers Association (NIA), where he contributed to industry collaboration and initiatives aimed at strengthening public confidence in insurance.

His leadership and contributions to the sector have earned him the Outstanding Insurance Brand Personality of the Decade recognition , acknowledging his role in advancing insurance development and promoting greater awareness of risk protection. Reacting to the recognition, Ahmed said the achievement reflected the collective efforts of stakeholders working to strengthen the industry and demonstrate the value of insurance to more Nigerians.

‘I am honoured to receive this recognition . I see it not only as a milestone but as an acknowledgement of the collective work being done to strengthen Nigeria’s insurance industry and demonstrate the value of protection to more people,’ he said.

He noted that his experience at AXA Mansard and the NIA had reinforced the importance of collaboration, innovation and sustained efforts to build trust in insurance.

According to him, despite the progress recorded by the industry, more work is required to improve penetration and make insurance protection accessible and relevant to individuals, families and businesses.

He also expressed appreciation to colleagues at AXA Mansard, the National Insurance Commission (NAICOM), industry trade associations and other professionals for their contributions to the sector’s development, describing the recognition as encouragement to sustain efforts towards industry growth.

Reacting on behalf of the company, Omowunmi Mabel-Adewusi, general counsel and human resources director of AXA Mansard, said the recognition reflected Ahmed’s commitment to excellence, innovation and building enduring institutions.

She said his leadership had strengthened the company’s ambition to build a resilient, customer-focused and purpose-led business.

‘We are delighted to see Kunle receive this recognition. It reflects his commitment to excellence, innovation and the continued development of the insurance industry.

‘His leadership at AXA Mansard has helped strengthen our focus on building a resilient, customer-focused and purpose-led business. We are proud of his contributions and the example he continues to set for our organisation and the sector,’ Mabel-Adewusi said.

The South-South Development Commission (SSDC) has delivered humanitarian relief materials to communities in Bille Kingdom, Degema Local Government Area of Rivers State, following a persistent gas leak and methane emissions.

There are fears that the gas leaks and methane emissions have caused environmental damage by contaminating underground water sources, rivers and local wells.

Usoro Akpabio, Managing Director/Chief Executive Officer of the SSDC, initiated the intervention, which was aimed at ameliorating the hardship faced by the locals, whose livelihoods and daily activities had been disrupted by the environmental crisis

Preye Aganaba, Executive Director, Social Services and Human Capital Development at SSDC, at the weekend, led the delegation to the affected communities on behalf of the managing director.

Akpabio pledged support for the residents, saying the SSDC would not abandon the affected communities and that their recovery remained a priority.

She described Bille as an important economic hub in Rivers State and the South-South region, warning that the environmental crisis had consequences beyond damage to property.

According to her, the persistent gas seepage has disrupted businesses, threatened food security, displaced families and deprived residents of their sources of livelihood.

She said that the situation underscored the importance of the SSDC’s mandate to address the developmental and humanitarian challenges confronting communities across the South-South region.

Akpabio disclosed that the commission provided 86 categories of food and non-food relief materials, including rice, beans, garri, noodles, vegetable oil, palm oil, mattresses, mats, wrappers, mosquito nets, buckets, sanitary pads and baby diapers.

She said that the intervention was in fulfilment of President Bola Tinubu’s directive to the commission to provide succour to vulnerable communities and accelerate development across the six South-South states.

Akpabio said: ‘The plight of the people of Bille is of great concern to the commission. Their recovery remains a priority, and we want to assure them that they will not be overlooked in our developmental agenda.’

She added that the SSDC’s intervention was designed to complement the efforts of Siminalayi Fubara, Governor of Rivers State, the Rivers State Emergency Management Agency and the National Emergency Management Agency (NEMA).

She pledged to sustain the commission’s commitment to environmental protection, disaster resilience, sustainable infrastructure and livelihood improvement across the region.

Bennett Okpoke, Chairman, Bille Council of Chiefs, who spoke on behalf of the Bille Council of Chiefs, thanked the SSDC for responding to the community’s plight, but called for urgent government intervention to address the root cause of the crisis.

Okpoke said residents had endured persistent gas and methane seepage for a considerable period, with devastating consequences for their water sources, livelihoods and daily activities.

He appealed to the Federal and State Governments, as well as relevant environmental and regulatory agencies, to urgently provide a lasting solution to the pollution threatening the health and economic survival of the people.

Okpoke described the SSDC’s visit as a demonstration of solidarity and genuine concern for the community at a difficult time.

Also speaking, Chidi Ogundu, Head of NEMA for Bayelsa and Rivers States, said that the agency had contacted the SSDC over the environmental emergency and expressed appreciation for the commission’s swift response.

Ogundu disclosed that an Environmental Impact Assessment had been conducted to establish the extent of the damage and its implications for residents, adding that the findings indicated significant adverse effects on the community.

He described the crisis, as a collective responsibility, stressing that the affected residents needed urgent and coordinated assistance.

Ogundu said: ‘An injury to one is an injury to all,’ while commending the SSDC for providing relief materials to cushion the effects of the emergency.

He further disclosed that NEMA’s technical team had commenced efforts to address the community’s potable water challenges, particularly the contamination of water sources caused by the gas seepage.

Ogundu said the intervention was necessary to prevent further exposure of residents to potential health hazards.