Africa Business News

Carbon, the Nigerian digital bank known for its loans-led approach to banking, has partnered with Verve, the Interswitch-owned card scheme, to resume issuing debit cards nine months after pausing card operations. Carbon operates without an agent network or physical branches, limiting channels for cash withdrawals and online shopping. The company says discontinuing cards further limited its channels and the resumption of card issuance shows that despite the rise of contactless payments and bank transfers, debit cards remain one of the most effective channels for customers to access their funds.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Federal Government has adopted the Tai Solarin University of Education (TASUED) in Ijagun, Ogun State as a Federal University. President Tinubu approved the adoption on Friday and thanked the Ogun State Government for inviting the Federal Government to take over the school, one of the state’s best educational assets. He says it is an opportunity for the Federal Government to honour Chief Obafemi Awolowo, who began the revolutionary free education programme in Western Nigeria and Dr Tai Solarin, who spent most of his life educating children and impacting patriotic and leadership lessons. President Tinubu emphasised that TASUED’s transition into a Federal University of Education is a strategic step in the Federal Government’s commitment to bolster teacher education and enhance the quality of instruction across all educational levels.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

UK Prime Minister Keir Starmer has announced a four-point plan to work with Ukraine to end the war and defend the country from Russia. The UK, France and other countries will step up their efforts in a coalition of the willing" and seek to involve the US in their support for Ukraine after calling a summit of 18 leaders - mostly from Europe and including Volodymyr Zelensky - three days earlier. Zelensky says Kyiv felt "strong support" and the gathering showed "European unity at an extremely high level not seen for a long time". French President Emmanuel Macron told Le Figaro newspaper that Paris and London wanted to propose a one-month truce between Russia and Ukraine "in the air, at sea and on energy infrastructure.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Democratic Republic of Congo is standing firm on its decision not to have direct talks with the M23 rebel group that has made major advances in the east of the country in recent months. DR Congo Prime Minister Judith Suminwa Tuluka says her government wants to negotiate with neighbouring Rwanda, which it accuses of backing the M23. She says the fact remains that the aggressor of the territorial integrity and of the sovereignty of the Democratic Republic of Congo is Rwanda.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Nigeria Labour Congress has vowed to mobilise workers and citizens for a nationwide protest if the Federal Government proceeds with its proposed electricity tariff hike, describing it as “economic violence against the working class and broader Nigerian populace.” The National Union of Electricity Employees accused the Ministry of Power and NERC of attempting to force consumers into higher tariff bands under the pretext of service improvement while, in reality, deepening economic hardship. The NEC also expressed concerns over the recent 35 per cent increase in telecommunications tariffs adding that Nigerian workers should not bear the brunt of corporate and government inefficiencies.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

MTN Nigeria, the country’s largest operator, has claimed back ₦32 billion from banks, a partial recovery of the ₦74 billion owed in USSD service charges. In December 2024, the regulators, the Central Bank of Nigeria and the Nigerian Communications Commission, ordered banks to pay 85% of their ₦250 billion debt to telcos before year-end or face fines and service restrictions. The crackdown forced banks to act, but not quickly enough for MTN, which still classifies the unpaid sum as “receivables” pending settlement in 2025. MTN Nigeria, in 2024, reported an after-tax loss of ₦400.44 billion; the sharp decline stems from the naira’s depreciation, soaring tower lease costs, and mounting foreign currency obligations.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The federal government has mandated that road contractors work on-site for at least two weeks before receiving mobilisation fees. The Minister of Works, David Umahi, explained that the policy aims to ensure that only committed contractors handle Nigeria’s road projects, thereby reducing cases of abandoned construction sites. He stressed that the Ministry’s decision that every contractor must be at the site and working for at least two weeks before the mobilisation fee is paid is the way to go for sustainable project development and delivery

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Volodymyr Zelensky says the eve of the third anniversary of Russia’s invasion — that he was ready to quit as Ukraine’s president if it meant Kyiv would be admitted to the NATO military alliance. Zelensky says he wanted to meet Donald Trump before the US president meets his Russian counterpart Vladimir Putin. Zelensky and Trump have been engaged in a war of words since US and Russian officials met last week in Saudi Arabia for their first high-level talks in three years. The move undermined the West’s policy of isolating the Kremlin and infuriated Ukrainian and European leaders, excluded from the meeting. Trump has branded Zelensky a “dictator”, falsely claimed Ukraine “started” the war also claimed, contrary to independent opinion polls, that Zelensky was unpopular at home. Zelensky said he was not “offended” by Trump’s comments and was ready to test his popularity in elections once martial law ends in Ukraine.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

India and the UK will restart free trade talks nearly a year after negotiations were paused ahead of general elections in both countries. Jonathan Reynolds, the UK's business and trade secretary, is in Delhi, where he will meet his Indian counterpart Piyush Goyal to kick off the two-day discussions. Reynolds says it was a no-brainer to seek a trade deal with India, which was forecast to become the world's third-largest economy in a few years. The countries have held more than a dozen rounds of negotiations since 2022, but an agreement has remained out of reach. Sticking points include high tariffs in India on Scotch whiskey and demands to relax fees and visa rules for Indian students and professionals going to the UK. President Donald Trump's decision to impose reciprocal or tit-for-tat tariffs on imported goods from countries, including India.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

The Rwandan government has condemned the US decision to sanction a government minister for his alleged role in the conflict in the east of neighbouring Democratic Republic of Congo. The US Treasury Department says Rwanda's Minister of State for Regional Integration James Kabarebe, a former army chief, was central to his country's support for the M23 rebel group. The US Treasury also sanctioned Lawrence Kanyuka, the M23's spokesman, as well as two companies he controls in Britain and France. The UK says there would be consequences for Rwanda over its alleged role in DR Congo. Rwanda's foreign ministry says the sanctions would not resolve the conflict in the DR Congo, terming them unjustified and unfounded.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.