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Ex-AfDB Chief Akinwumi Adesina Launches Investment Platform to Drive Capital to Africa

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Africa appears to have found a deal and investment channel that will help lure scarce capital into a continent that houses 12 of the world’s 20 fastest-growing economies, as rising protectionism and geopolitical tensions weaken capital flows.

The Global Africa Investment Summit (GAIS), a transformative platform co-founded by Akinwumi Adesina, former president of the African Development Bank, is set to bridge African governments, global CEOs, and institutional investors to accelerate the continent’s shift from aid dependency to investment-driven growth.

With the fastest young demographic in the world and a population of nearly 1.3 billion, Africa is punching below its weight as fragmented markets, under-prepared public assets, and a reliance on aid rather than scalable private investment pose the biggest constraint to growth.

“Africa must unlock its vast sovereign assets to generate wealth,” Adesina said in a statement ahead of the summit scheduled to be held in Angola later this year.

“The Global Africa Investment Summit, as a market maker, is the globally trusted platform to unlock mega deals and assets by connecting Africa to global capital.”

Africa’s Foreign Direct Investment (FDI) continues to lag behind both developed and developing economies, representing only 6 percent of global FDI in 2024, according to the United Nations Trade and Development World Investment Report.

GAIS aims to boost Africa’s lagging foreign direct investments by providing investors the enormous opportunities abound in the continent some of which includes the continent’s population projected to double by 2030, with a rapidly growing middle class.

Its consumer market is growing, from $1.4 trillion in 2015 to an expected $2.5 trillion in 2030, opening investment windows for FDIs.

According to the organisers, strategic sectors, including critical minerals, metals, rare earths, energy, agriculture, and digital infrastructure, are primed for investment.

Global leaders including President of Ghana John Mahama, William Ruto of Kenya, Samia Suluhu Hassan of Tanzania, Prime Minister of Italy, Giorgia Meloni, Daniel Chapo of Mozambique, former UN Secretary-General, Ban Ki Moon, former Prime Minister of the United Kingdom, Tony Blair, Africa’s richest man and President, Dangote Group, Aliko Dangote, and Robert Gumede, founder and chairman Guma group have all backed the need for Africa to harness its potential for economic growth.

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Shiites Protest in Kano over Killing of Iran’s Supreme Leader

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Members of the Islamic Movement of Nigeria, on Sunday, took to the streets of Kano metropolis to protest the killing of the Supreme leader of the Islamic Republic of Iran, Ayatollah Ali Khamenei, following a joint attack by the US-Israel on Saturday.

The demonstrators, who are simply known as Shiites, trooped out in their numbers at about 2.30pm in and trekked from the Fegge Central Mosque the Islamic Movement headquarters situated at Kofar Waika in the State capital.

The demonstration, adjudged peaceful, lasted for about two hours, terminating after 4.00pm.

The demonstration was followed by speeches by their scholars that spoke about the state of affairs in the Middle East and its implications on the rest of the world. A special prayer was also offered seeking Allahs intervention for the people of Iran.

The Kano State Police Public Relations Officer, CSP Abudulhi Haruna Kiyawa, resisted attempts to persuade hims for official reaction to the demonstration.

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Innovation Meets Vision As Glo Partners Samsung to Unveil New Galaxy S26

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In a convergence of technology and vision, digital solutions leader Globacom has entered a partnership with global electronics giant Samsung to introduce the much-anticipated Galaxy S26 Series to the Nigerian market. It is a device conceived for a generation that lives, works and dreams in real time.

The unveiling, held at Globacom’s corporate headquarters in Victoria Island, Lagos, gathered an august assembly of high-net-worth customers, industry figures and members of the media. The atmosphere was not merely ceremonial; it was symbolic — a quiet affirmation that when global engineering meets indigenous connectivity, innovation finds its true signal.

As part of the partnership, Globacom has commenced an exclusive pre-order window for its subscribers. Each Galaxy S26 purchased at any Gloworld outlet nationwide is bundled with 18GB of complimentary data under the Glo Smartphone Festival Data Plans delivered as 3GB monthly for six months.

In addition, customers receive a distinguished Platinum Number eSIM, accompanied by up to 10GB of extra data monthly. It is a proposition crafted not as an afterthought, but as a deliberate statement of value.

The Galaxy S26 Series itself is a study in assured sophistication. It fuses next-generation processing power with a sleek, immersive display, enhanced camera intelligence, durable battery performance and privacy screen technology. Its Agentic AI capabilities introduce a more intuitive user experience, one that anticipates need, protects data and enhances productivity.

In essence, it is a device built not merely to function, but to empower.

Speaking at the event, Samsung’s Product Manager, Sellout Platinum, Mr. Solomon Osibeluwo, described Globacom as the first partner to host the S26 masterclass session — a testament, he noted, to the enduring strength of the relationship between both organisations. He reaffirmed Samsung’s commitment to deepening this alliance, adding that the S26 Series has been meticulously engineered to enrich the calling, browsing and overall digital experience of Nigerians.

In his address, Globacom’s Head of Gloworld, Mr Mohamed Rabie, underscored that the collaboration is anchored on delivering real and measurable value. Premium technology, he remarked, must travel with meaningful benefit. He expressed pride that Globacom stands as the first partner to offer both the masterclass engagement and immediate pre-order advantages following the device’s launch in Nigeria.

Encouraging Nigerians to experience the device firsthand at Gloworld outlets nationwide, Rabie concluded with quiet conviction: “this moment transcends the unveiling of a smartphone. It signals the unfolding of new possibilities powered by intelligence, sustained by partnership, and carried on the dependable wings of connectivity”.

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FCCPC Uncovers Patterns of Price Manipulation by Local Airlines

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The Federal Competition and Consumer Protection Commission (FCCPC) has uncovered patterns of price manipulation perpetrated by some local airlines during the last festive season.

The findings are contained in the interim report released on Thursday by the Commission’s department of Surveillance and Investigations, according to a statement signed by the Director, Corporate Affairs, Ondaje Ijagwu, and made available to The Boss.

Recall that the Commission announced an industry-wide investigation earlier in January.

The forensic exercise benefitted from data collated by the Commission from airlines operating local routes in the country.

The report compares domestic airline pricing from the December 2025 festive period with post-peak January 2026 fare levels.

Preliminary analysis indicates that fares recorded during the December peak were materially higher than those observed in the post-peak period across several routes despite relative stability in critical operating variables like fuel price, government taxes and foreign exchange.

The differences observed in fares therefore appear to reflect airlines’ arbitrary pricing decisions, including yield management and capacity allocation, rather than any variation in regulatory fees.

Route-level analysis shows that higher fares coincided with periods of reduced seat availability during predictable seasonal demand peaks. On some high density routes, peak fares were clustered within relatively narrow ranges across several operators.

For instance, on certain corridors like Abuja-Port Harcourt, peak fares were several times higher than corresponding post-peak levels. On selected routes, the difference in the price of a single ticket reached approximately ₦405,000. Median fares across the sampled routes also rose markedly during the festive window when compared with post-peak benchmarks.

However, the interim report recognises that seasonal demand pressures, scheduling constraints and fleet utilisation may also affect pricing during peak travel periods.

These factors remain under consideration as part of the Commission’s ongoing review.

Commenting on the release of the interim report, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the review is part of the Commission’s statutory responsibility to promote competitive markets and safeguard consumers.

“This assessment is intended to provide clarity on pricing behaviour during predictable peak travel periods. The Commission’s role is not to disrupt legitimate commercial activity, but to ensure that market outcomes remain consistent with competition and consumer protection principles under the law,” Mr. Bello said.

He noted that the Commission is conducting further structural and route-level analysis before reaching any conclusions.

“It is important to emphasise that this is an interim report. Our next action will be dictated by full facts established at the end of the review exercise.  Then, the Commission will decide whether any regulatory guidance, engagement or enforcement steps are necessary, strictly in accordance with the law,” he said.

The report identifies the possible relevance of Sections 59, 72, 107, 108, 124 and 127 of the Federal Competition and Consumer Protection Act 2018, which respectively address the prohibition of agreements in restraint of competition, the prohibition of abuse of a dominant position, the offence of price-fixing, conspiracy to commit offences under the Act, the right to fair dealings, and the prohibition of unfair, unreasonable or unjust contract terms.

Meanwhile, Mr. Bello announced that foreign airlines will come under FCCPC radar after the ongoing review of local airlines in view of widespread complaints of exploitative fares they allegedly charge Nigerians on certain routes compared to fares in neighbouring countries that are of equal distance.

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