PwC Nigeria Welcomes Four New Partners

PwC Nigeria has confirmed the addition of four new partners starting from 1 July 2026, as part of PwC Africa's selection of 20 new partners throughout the region.

The latest additions include Adesola Abiodun (Advisory Services), Oluwadamilola Dada (Assurance Services), Ugochi Ndebbio (Tax & Regulatory Services), and Emeka Chime (Tax & Regulatory Services).

As stated by PwC, their acceptance marks a critical time for organizations dealing with fast-paced technology changes, changing expectations from stakeholders, and moving regulations and economic conditions. The newly appointed partners offer the knowledge and guidance required to help businesses succeed in this ever-changing landscape.

The current year's partnership admissions further demonstrate PwC Africa's ongoing dedication to diversity and inclusion, as women make up 55 percent of the entire group.

Speaking about the appointments, Sam Abu, the Country Senior Partner at PwC Nigeria, stated: "I am pleased to welcome four additional partners into our firm in Nigeria. This appointment acknowledges many years of outstanding work and signifies their advancement to the top tier of the industry."

For many years, they have assisted our customers and contributed to shaping both our team members and the company itself. In today’s rapidly changing business environment, companies require reliable advisors who can guide them with assurance. The addition of these new partners offers valuable insights and guidance to enable clients to establish trust, transform their operations, and discover fresh avenues for expansion.

Abiodun works with PwC Nigeria's Deals Advisory division, leading the company's efforts in securing private capital through areas such as private credit, private equity, green finance, and both operational improvement and turnaround initiatives. Additionally, he assists with full-cycle merger and acquisition consulting services. His expertise includes guiding clients on direct investment financing, temporary financial support, corporate funding, short-term liquidity options, and mergers and acquisitions within various industries.

Having over 20 years of industry expertise, Abiodun has established and maintained connections with global, regional, and local financial organizations, such as development banks, state-owned investment funds, retirement funds, insurance entities, and various institutional backers. He has spearheaded financing deals surpassing $10 billion within different industries.

Before joining PwC, he was employed with Infrastructure Credit Guarantee Company Limited, where he oversaw strategic planning and implementation of new business initiatives, along with handling investor communications, building client partnerships, and promoting market growth. Additionally, he held a position at Vetiva Capital Management Limited, providing guidance to both government and corporate clients regarding fundraising through debt and equity instruments, project financing, merger and acquisition strategies, as well as asset disposals.

He earned a first-class qualification in accounting from the University of Lagos and obtained a master's degree in accounting and finance with high honors from Alliance Manchester Business School at the University of Manchester, United Kingdom. He is recognized as a Fellow of the Institute of Chartered Accountants of Nigeria.

As a collaborator, Abiodun will remain dedicated to assisting clients in obtaining funding, spearheading intricate deals throughout the transaction process, and identifying avenues for growth. Additionally, he will aid in broadening PwC’s Deals Advisory offerings within Nigeria and the Western market region.

Dada works alongside PwC Nigeria's Assurance team, providing services to prominent organizations within the energy, utilities, and resource industries both in Nigeria and globally. Her expertise spans audit and assurance, internal control systems, financial reporting, and risk management. Before becoming part of PwC Nigeria, she was employed at PwC USA, where she offered guidance to large utility and energy firms adhering to U.S. GAAP, SEC regulations, and the Sarbanes-Oxley Act. Over the course of her professional journey, she has taken on various leadership positions, such as acting as Chief of Staff to the head of PwC Africa's Assurance division.

Dada earned her MBA at the Imperial College Business School in London and is recognized as an Associate Chartered Accountant, a Certified Public Accountant (in Texas, United States), and possesses the ACCA Diploma in International Financial Reporting Standards. She has provided guidance to board members, senior management teams, regulatory bodies, and global companies regarding compliance, financial disclosure, control enhancement, and organizational development efforts.

Her fields of specialization encompass auditing and assurance, internal controls over financial reporting, risk management, Sarbanes-Oxley compliance, and financial reporting according to IFRS Accounting Standards as well as US GAAP. She is known for assisting organizations in improving their internal control frameworks, elevating the accuracy of financial reports, and fostering trust among stakeholders within intricate and heavily regulated sectors.

As a collaborator, Dada will concentrate on assisting clients in establishing confidence via top-notch quality assurance, robust internal control systems, and creative approaches to managing risks. Additionally, she will contribute to the ongoing expansion of PwC Nigeria's Assurance services within the Energy, Utilities, and Natural Resources sectors, emphasizing the advancement of tech-driven assurance methods and enhancing client interactions throughout the industry.

Ndebbio works with PwC Nigeria's Tax and Regulatory Services division as a collaborator and is the key person responsible for the company's Regulatory Business Solutions offering. Having dual qualifications in both law and accounting, she provides thorough regulatory and taxation compliance services to customers from various sectors including legal guidance, investigative reviews, health assessments, deal setup, and obtaining tax and financial benefits.

Ndebbio leads PwC Nigeria's conflict resolution division, advising clients at the Tax Appeal Tribunal, and promotes the company's policy advocacy initiatives, collaborating with customers to develop evidence-based analyses and interact with governmental bodies along with sector representatives to achieve practical outcomes.

In her role as General Counsel at PwC Nigeria, she offers comprehensive legal direction throughout all aspects of the company's business interactions, guiding the internal legal department to maintain robust legal compliance at each stage.

Ndebbio is affiliated with the Nigerian Bar Association, the Association of Chartered Certified Accountants UK, the Institute of Chartered Accountants of Nigeria, the Institute of Chartered Secretaries and Administrators of Nigeria, and the Chartered Institute of Taxation of Nigeria—a broad-based organization that enables her to provide cohesive, business-savvy guidance where legal, taxation, and regulatory matters converge.

As a collaborator, Ndebbio will remain at the forefront of the Regulatory Business Solutions initiative, act as General Counsel for PwC Nigeria, and offer expertise in intricate tax issues.

Chime works alongside PwC Nigeria's Tax and Regulatory Services team, bringing over 16 years of expertise in guiding both local and international companies on taxation, regulation, and business strategy. Since becoming part of PwC in 2010, Chime has provided guidance to clients spanning various sectors such as consumer goods, finance, energy, and technology.

He worked for three years at PwC in Houston, Texas, offering tax consulting to privately owned companies and acquiring substantial expertise in international taxation.

His fields of specialization encompass tax planning and guidance, global tax consultancy, tax investigation and merger & acquisition advice, corporate and indirect taxation consultation, company restructuring, and corporate compliance solutions within multiple industries. He has overseen many projects related to investment setup, assistance with transactions, tax inspections, and strategies for entering new markets.

Chime is a Fellow of the Association of Chartered Certified Accountants, a member of the Chartered Institute of Taxation of Nigeria, and has earned an Executive Certificate from the University of Southern California.

As a collaborator, he will remain committed to assisting both local and global companies with intricate tax and compliance issues, enabling entities to handle risks, adapt to changes, and seize expansion prospects confidently.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Why SME Growth Needs More Than Just Capital

For many years, conversations regarding small and medium enterprises in Nigeria have centered around access to financial resources. Although financing is still crucial, simply having capital will not propel the next phase of SME development. We must consider factors outside of just funding.

Business owners throughout Nigeria encounter significant expenses, evolving consumer demands, fast technological changes, and increased rivalry. Meanwhile, digital platforms, local commerce, and emerging innovations provide fresh avenues for expansion. Due to these obstacles and possibilities, establishing a more robust business environment has become increasingly crucial.

The central issue is no longer whether Nigerian small and medium enterprises can endure. Numerous ones have demonstrated their ability to manage challenging periods and shifts in the marketplace. Today, the true challenge lies in whether they can expand responsibly and stand up to competition in an increasingly interconnected global environment.

The main focus should be on developing more robust business environments that aid small and medium enterprises.

Throughout the globe, the most effective methods for supporting small and medium enterprises extend past simply providing financial loans. These approaches emphasize developing frameworks that link companies with infrastructure, technology, marketplaces, expertise, connections, and capital sources. Enterprises thrive not only due to access to funds but also because of the supportive ecosystems that enhance their efficiency and expansion. Nigeria ought to adopt and expand upon this approach.

The development of such an ecosystem for Nigerian small and medium enterprises involves four key focuses.

One of the major obstacles hindering business expansion in Nigeria remains infrastructure development. Access to consistent power supply, efficient transportation systems, and robust connectivity are crucial elements that companies require to remain competitive.

Many small and medium enterprises face high energy expenditures, which negatively impact their profitability and hinder expansion. This is why cost-effective and dependable energy has become essential for business operations, rather than merely a concern related to sustainability.

As an increasing number of private enterprises focus on renewable energy initiatives. For instance, our collaboration with the Rural Electrification Agency facilitates the establishment of microgrids, providing businesses and localities improved electricity availability. Utilizing cheaper diesel allows companies to operate more effectively, reduce costs, and achieve greater sustainability. Sustainable infrastructure goes beyond just energy supply. Enhanced transportation systems, broader internet connectivity, and robust digital links will determine which businesses can serve larger customer bases and participate in the digital market. These combined elements enhance business competitiveness.

The advancement of technology is transforming how companies operate, vie for market share, and achieve growth. Today, even a small enterprise located in Aba, Kano, or Lagos has the ability to offer goods throughout Nigeria and beyond through online platforms. However, numerous micro, small, and medium enterprises face challenges due to labor-intensive processes, fragmented financial systems, and restricted availability of digital resources. As a result, not all individuals have the means to benefit from these possibilities.

The top-performing small and medium enterprises of tomorrow will be those that leverage technology not only for managing operations, but also as a central element of their expansion strategies.

Digital transactions, e-commerce platforms, cloud-based business solutions, data analytics, and machine learning technologies are enabling companies to operate more effectively, gain deeper insights into customer behavior, and expand at an accelerated pace.

Due to these developments, banks must go beyond providing services — they ought to assist businesses in leveraging technology. For instance, FCMB Collect integrates payments, collection processes, and inventory control to enable businesses to operate more efficiently and monitor their finances more effectively. Through collaborations with various firms and commitment to robust digital infrastructure, we are enabling businesses to engage within the digital economy.

Possessing the correct abilities and understanding can hold equal significance to having sufficient financial resources.

Numerous small and medium enterprises possess promising business concepts and recognize potential market prospects, yet frequently face challenges due to insufficient managerial, financial, and technological expertise required for sustained expansion. In today's environment, competition hinges more than ever on how effectively entrepreneurs make informed decisions, leverage technology, and respond swiftly. This underscores the significance of possessing the correct skills, which is equally vital as having adequate capital.

Entrepreneurs must enhance their ability to handle finances, lead groups, sell products online, make choices based on data, get ready for international trade, and adopt emerging tools like artificial intelligence. Mastering these competencies can distinguish companies that remain limited in size from those that achieve sustainable growth.

This is why training initiatives remain essential for supporting the growth of small and medium enterprises. By offering seminars, advanced classes, and access to our Business Zone e-learning system, FCMB equips business owners with hands-on expertise to develop more robust and adaptable companies. With continuous advancements in technology and evolving market conditions, consistent education will offer significant benefits, increasing the importance of these programs.

Money remains highly significant, yet the method of its delivery is evolving.

Traditional methods of lending frequently exclude companies without official documentation or conventional assets. However, modern technologies like data analytics, online systems, and alternative approaches to assessing creditworthiness are enabling more enterprises to obtain financial support. This shift is enhancing the inclusivity of financial services.

Additionally, collaborating with development financial institutions and distributing risks is facilitating better access to cost-effective funding for companies operating in critical areas like farming, medical services, schooling, sustainable power, and ventures led by women.

The success of small and medium enterprise financing will rely not only on the amount of capital accessible, but also on the prudent manner in which it is utilized. Funding must align with the requirements of various industries, company phases, and operational structures. In this manner, financial support can create greater value.

The small and medium-sized enterprise segment in Nigeria remains among the nation's most significant contributors to the economy.

Its ability to generate employment, foster innovation, and promote development for all will determine the nation's destiny.

However, the subsequent phase of small and medium enterprise development will not focus on which entity offers the highest number of loans. Instead, it will center around establishing the most effective assistance network for business owners. This shift is currently underway.

Companies require entry into markets, technological resources, infrastructure, information, connections, and financial support, which must function collectively as an integrated system. When these elements combine, small and medium enterprises can not only endure challenging periods but also expand, introduce innovations, and rival global competitors. To put it simply, the environment should operate cohesively.

At FCMB, our history of collaborating with companies in various industries has strengthened our conviction that long-term development goes beyond just financial support. It involves providing businesses with chances to obtain information, innovation, customer bases, collaborations, and cost-effective strategies that enhance their ability to compete effectively.

The success of Nigeria's economic outlook hinges on our ability to support entrepreneurs efficiently. Reaching this objective demands a shared dedication to developing an environment where companies receive both financial backing and the tools necessary for expansion, creativity, and long-term impact. As small and medium enterprises thrive, local areas flourish, employment opportunities increase, and overall economic growth accelerates. Creating such a future should continue to be a top national focus.

George Ogbonnaya serves as the Senior Vice President and Head of the Business Banking Group at First City Monument Bank.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Manufacturers Seek a Lifeline

The sharp decline of 68.25% in corporate income tax contributions from Nigeria's manufacturing industry during the first quarter of 2026 must raise concerns among decision-makers outside just the revenue agencies. This drop, which saw figures fall from N234.59 billion in Q1 2025 to N74.48 billion in Q1 2026, indicates significant pressure on the nation's economic foundation. Clearly, producers require urgent support.

Production continues to be the foundation of each thriving economy. It produces employment in large quantities, boosts demand for agriculture, aids transportation and service sectors, promotes exports, enhances technical skills, and increases government revenue. When manufacturing facilities face difficulties, the overall economy ultimately experiences negative effects.

Recent NBS data show that taxes paid by manufacturers decreased by N160.11 billion from the same period last year and dropped by 47.49 per cent when compared to the prior quarter.

Although overall corporate income tax revenues fell by 31.05 percent nationwide, the manufacturing industry faced a far more severe decline, indicating that the actual economy is carrying the greatest weight during Nigeria's challenging economic shift.

The drop occurs during a highly sensitive time. The introduction of the updated tax system, which involves cutting the Corporate Income Tax from 30 percent to 25 percent, took place alongside deteriorating operating circumstances for manufacturers. This has led to a mix of reduced tax rates and notably diminished company profits.

Proponents of the tax changes claim that reduced rates will eventually encourage investment and enhance company sustainability.

The head of the Presidential Fiscal Policy and Tax Reforms Committee, who also serves as the present Minister of Finance and Coordinator of the Economy, Taiwo Oyedele, has repeatedly supported the reforms as a significant aid program for companies.

He stated that cutting the corporate income tax by five percent significantly puts approximately N1.4 trillion into the pockets of companies each year.

New regulations have also implemented a 0% corporate income tax for small companies and increased tax waivers for businesses with yearly sales under N50 million. The aim is to lower the tax load, enhance adherence, and enable enterprises to keep more funds for growth. This approach deserves praise.

Nevertheless, reduced tax rates offer limited benefit if businesses generate minimal or no earnings subject to taxation.

The CIT primarily functions as a corporate income tax. When earnings decline, revenue from taxes naturally decreases. Consequently, the most recent data highlight not just the effects of tax changes but also the worsening condition of the manufacturing industry.

Companies still face some of the most significant operational expenses across Africa.

Energy continues to be one of the most significant challenges. Inconsistent grid power compels businesses to depend extensively on diesel generators, and electrical rates have increased considerably.

Oil prices stay high, transportation fees have risen sharply, and supply chain delays keep increasing operational costs.

International currency fluctuations have added to these challenges. The Nigerian Manufacturers' Association has consistently cautioned that freeing up the exchange rate has led to massive foreign currency losses and higher manufacturing expenses amounting to trillions of naira, particularly affecting companies reliant on imported equipment, materials, and supplies.

According to data from MAN's CEO Confidence Index, almost 49 percent of manufacturers' foreign currency needs remain unsatisfied via formal channels, leading them to turn to more expensive alternatives, which reduces their already narrow profit margins even further.

The expense of obtaining credit has turned out to be just as harmful. Business loan interest rates surpassing 30 to 35 percent render growth funding nearly unattainable for numerous producers. Very few sectors can secure loans at these levels and still maintain profitability.

Sluggish consumer spending adds to the ongoing turmoil. Rising inflation has significantly reduced households' buying capacity, resulting in increased stockpiles for numerous producers, which hit an all-time high of N1.8 trillion by the third quarter of 2025 despite falling sales figures.

As a result, companies find themselves caught between rising expenses and low consumer interest.

This clarifies why manufacturing, although generating 13.82 percent of domestic corporate income tax and continuing as the nation's third-largest source of internal taxation, currently makes up just around 5.45 percent of overall national corporate income tax revenues.

Certainly, overseas taxes amounted to N828.82 billion, accounting for 60.6 percent of overall revenue during Q1 2026, whereas local industries face growing challenges.

The effects go beyond just tax income, since manufacturing represents one of Nigeria's biggest possible sources of jobs. Each industrial position leads to more job possibilities in areas like transport, farming, commerce, upkeep, and support services.

Continued industrial development is crucial for lowering joblessness, increasing export activities, and decreasing overreliance on income from petroleum resources.

Financial experts have increasingly voiced worries that the productive sector of the economy is being outshone by industries that bring in income without significantly generating widespread jobs.

Experts from SBM Intelligence have stated that although official tax rates might be decreasing, companies still encounter various charges, administrative expenses, and new responsibilities that could counteract part of the expected advantages from lower taxes.

Hence, the administration needs to back up financial changes with strong manufacturing promotion strategies.

First off, energy expenses need immediate consideration. Specialized industrial power programs, gas-to-electricity benefits, and integrated generation setups for manufacturing hubs require prompt focus. Stable electrical supply could greatly lower manufacturing costs.

Cost-effective funding needs to take precedence, with financial assistance from the Bank of Industry and developmental finance organizations increased at low-interest rates below ten percent to aid operational expenses, purchase of machinery, and growth initiatives.

In addition to statements, tax coordination needs to be strongly enforced. Companies often express dissatisfaction with double taxation from federal, state, and municipal authorities. Removing redundant taxes would enhance the simplicity of conducting business.

Additionally, currency stability, which seems nearly secured, needs to remain intact.

Companies need consistent currency exchange rates for forecasting, setting prices, and purchasing. Increased availability and consistency within the foreign exchange market could lower risks and safeguard profits.

Government purchasing guidelines ought to deliberately focus on domestically produced goods whenever feasible. Robust domestic demand can enable manufacturers to attain cost advantages through increased production volume and enhance their financial performance.

Essentially, funding for road networks, port facilities, and transportation routes will reduce shipping expenses, which in turn lead to increased efficiency and market strength.

Although the Bola Tinubu government has taken an active approach to increasing income, Nigeria cannot achieve economic success through taxation of industries, nor should it anticipate significant tax collections from faltering manufacturers.

A steady increase in tax revenue relies on successful companies, increased output, and growing investments.

Should Nigeria truly aim for inclusive development, widespread job creation, and long-term income generation, backing industry cannot be considered discretionary. The production sector continues to drive the actual economy. Rebuilding it may well be the key economic challenge confronting leaders at this moment.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

World Bank Recognizes Apapa and Tincan Ports' Transformation

The company responsible for managing the Electronic Call-up System codenamed 'Ètò', launched by the Nigerian Ports Authority to streamline truck movements into and out of port areas, has confirmed that the most recent World Bank assessment of the Apapa and Tincan Island ports supports the experiences reported by industry players since the implementation of Ètò.

As per a statement acquired by The PUNCH , the Chief Executive Officer and co-founder of TTP Limited, Jama Onwubuariri, made these comments while responding to the latest World Bank rating.

According to reports, the 2025 Container Port Performance Index, released by the World Bank along with S&P Global Market Intelligence, highlighted Nigeria's Lagos Port Complex (Apapa) and Tincan Island Port as two of the top 20 container ports that have shown significant improvement globally during the past five years.

In the global enhancement ratings, Tincan Island Port secured the 10th position, whereas Lagos Port Complex (Apapa) came in at 12th place, achieving notable progress among container terminals globally from 2020 to 2025.

TTP emphasized that the acknowledgment highlights an impressive improvement in the functional efficiency of Nigeria's most active port routes.

Prior to 2021, long lines of trucks extended from Apapa all the way to Maryland and the Cele Expressway; drivers frequently had to wait between two to three weeks before being able to reach the ports, causing freight transportation expenses to increase by up to 450 percent because of traffic jams and operational problems. In February 2021, TTP Limited, working alongside the Nigerian Ports Authority, launched the Ètò Electronic Call-Up System to digitalize and manage vehicle entry into the Apapa and Tincan port areas, according to the statement.

The company stated that following the launch of Ètò in 2021, the platform has handled over 3.5 million truck movements, contributing to bringing structure and reliability to one of Africa's most active trading hubs.

TTP mentioned that the typical processing time for getting into ports and moving goods out has dropped to two days or fewer: "Logistics expenses related to cargo have decreased by approximately 65 percent, while containerized exports rose by 464 percent from 2020 to 2021. Currently, the system offers live tracking and access management at over 120 sites within the Lagos port network and has achieved full operational availability since its introduction."

TTP credited much of the ports' enhanced efficiency to the ongoing development of the Ètò platform.

The company noted that during the past five years, improvements including export truck pre-screening, simplified reservation processes, real-time vehicle monitoring, sophisticated time-to-turnaround analysis, smart forecasting systems, and stronger collaboration with port partners have decreased delays, boosted freight movement, increased transparency, and reinforced cooperation throughout the supply network.

"Collectively, these enhancements have facilitated the development of a more effective and robust port system, which has contributed to the operational advancements highlighted in the World Bank’s ratings," it noted.

In the meantime, responding to the rankings, Jama Onwubuariri, Managing Director and Co-founder of TTP Limited, stated that five years prior, Apapa and Tincan served as worldwide illustrations of the consequences of inefficiency.

"Currently, they are acknowledged as some of the top improving container terminals globally. This change didn’t occur randomly. It stems from courageous reforms, cooperation within the port network, and the use of technology that has introduced clarity, order, and reliability into vehicle and freight movements. The World Bank's rating confirms what those involved have witnessed firsthand since the launch of Ètò. More effective truck planning leads to quicker cargo removal, enhanced terminal efficiency, reduced transportation expenses, and a stronger seaport industry. We take pride in the fact that Ètò has been crucial in this process. Looking forward, we will keep innovating and introducing smart transport solutions designed to address operational issues not just inside ports, but along entire trade routes and at borders across Africa," Jama said.

He pointed out that the recent World Bank acknowledgment highlights the increasing influence of digital advancements within Nigeria's shipping industry and emphasizes the significance of continued funding for tech-based approaches that enhance trading effectiveness, minimize transportation delays, and boost countrywide competitiveness.

"For TTP, it further highlights the potential to utilize insights gained from the Ètò transition in addressing various transportation and trade issues throughout Africa's ports, logistical routes, and cross-border systems," he added.

TTP Limited is a Nigerian firm specializing in technological and infrastructural services, focused on crafting smart transportation solutions for seaports, supply chain routes, and cross-border systems. With its main product, the Ètò Electronic Call-Up System along with associated transport infrastructure, TTP assists government bodies and business operators in enhancing traffic regulation, entry monitoring, process effectiveness, and commerce promotion within intricate logistical setups.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

WACT-APM Names First Nigerian MD in International Expansion

The WACT-APM Terminals Nigeria has revealed the selection of Courage Obadagbonyi as Chief Executive Officer, starting from 1 July, replacing Jeethu Jose and marking him as the inaugural native Nigerian to hold this role.

In a message released on Monday, the company revealed that the selection highlights the organization's ongoing commitment to cultivating robust leadership from across its international workforce, while maintaining consistent expansion and high standards of performance.

The declaration stated that, having worked as an experienced leader with more than 20 years of global expertise, Obadagbonyi has occupied managerial positions in areas such as finance, operations, and overall administration within prominent multinational companies like APM Terminals, General Electric, and Lafarge. Prior to his current role, he was the Chief Financial Officer for the APM Terminals Nigeria group, overseeing financial planning throughout Nigeria and San Pedro, Ivory Coast.

"He additionally held an interim role as Managing Director of APM Terminals Apapa from 2025 until March 2026, enhancing his background in operational leadership. Having worked across industries including oil and gas, power production, transportation, and health care, Obadagbonyi offers significant knowledge in fiscal management, risk improvement, and corporate efficiency," the statement noted.

Commenting on his new position, Obadagbonyi stated, "I am eager to build upon the solid base currently established at WACT. The terminal serves an essential function in linking companies in Eastern Nigeria with international markets, and we remain committed to maintaining secure, dependable, and effective operations."

The CEO of APM Terminals Nigeria, Frederik Klinke, stated that this appointment highlights the company's dedication to nurturing leadership and ensuring sustained expansion.

"Throughout APM Terminals worldwide, we observe robust cooperation and employee advancement among our teams. This new role highlights the level of experience present within our company and the ongoing commitment to developing skills that drive long-term growth. Nigerians have consistently showcased outstanding work and leadership abilities. Team members from our Apapa and Onne ports have shared their knowledge on an international scale while also introducing effective methods to enhance activities in Nigeria," Klinke stated.

He mentioned that Obadagbonyi's background will aid the upcoming stage of operational efficiency and value provision at WACT.

In the meantime, the departing Managing Director, Jeethu Jose, stated, "It was an honor to head WACT-APM Terminals Nigeria through a time of significant development. The group has created a solid foundation for what lies ahead, and I have faith in the ongoing achievements of the company."

The West Africa Container Terminal operated by APM Terminals located in Onne, Rivers State, stands among Nigeria's top container facilities since starting full-scale operations in 2006. The firm keeps investing in increasing capacity and updating infrastructure, such as a $115 million terminal enhancement initiative introduced in 2020. This improvement involves installing refrigerated units capable of handling 600 plugs, expanding the existing storage area, building a new maintenance facility, implementing an advanced automated entry system, upgrading office spaces, and integrating cutting-edge technological solutions. Such efforts have improved operational effectiveness, boosted customer support quality, and solidified WACT's position as a key hub for commerce outside of Lagos.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

APC Hails Bayelsa Governor for New Secretariat Launch

The governor of Bayelsa State, Duoye Diri, has launched a highly advanced headquarters for the state branch of the All Progressives Congress (APC) in Yenagoa.

Diri referred to the building as the "unitary headquarters," noting that it gathered essential party members under one roof for the first time in several years.

He thanked individuals who, despite losing in the latest party primary elections, continued to support the group, referring to them as the champions of the APC in Bayelsa.

Diri emphasized the significance of faithfulness in political affairs, pointing out that without supporters firmly backing him, he could not effectively guide the party.

He stated, "I believe it's important for everyone to know that no one should feel excluded since no one attempted to take over the party. Those who didn’t win in the previous primary elections are the true heroes of this party because there were neither winners nor losers. The sole victor is the APC."

We aim to maintain this gathering as robust as possible to achieve the unity essential for success. Roles represent chances and benefits meant to uplift individuals. Leading differs from being followed.

Keep asking for blessings, and you shall receive them soon. The APC in Bayelsa is more inclusive compared to other parties, as demonstrated during the recent primary elections.

This newly established secretariat is our home, and all matters we face will be addressed here. We are pleased that the party now has an environment suitable for working efficiently to boost output.

Following the inauguration, during a stakeholders' meeting, prominent figures from the party, such as the state APC chairperson, Warman Ogoriba, expressed gratitude to Diri for providing an appropriate facility on behalf of the stakeholders and members of the state working committee.

Ogoriba stated, "This is the top political party headquarters in the nation; it will enhance our party's solidarity and encourage supporters to strive for APC's success in the 2027 national elections."

The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, praised Diri's outstanding leadership skills, noting that they brought together the party within the state.

He pledged to candidates from his party, especially within his Bayelsa West senatorial area, that they would win the 2027 elections, stating that certain lawmakers from other parties will step down following the vote.

Additionally, the Managing Director of the Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku, stated that the newly united APC group in the state is progressing rapidly, urging "those on the opposite side" to come together with the party to advance the state and nation.

Several other interested parties, such as Senator Konbowei Benson from Bayelsa Central, the representative of Sagbama Constituency 3 in the House of Assembly, Ebizi Ndiomu-Brown, and the Managing Director of the Niger Delta Basin Development Authority, Prince Ebitimi Amgbare, individually thanked the governor for the secretariat and the cohesion within the party, showing confidence that the APC will win in 2027 throughout the state.

During his speech, the Bayelsa state leader praised the solidarity between members, highlighting that the party's power came from collaboration.

Conveying a positive message, former NDDC Managing Director Chief Ndutimi Aliabe stated that he has returned to the APC and expressed gratitude to Diri for his leadership and progress within the state.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Heirs Energies Launches Real-Time Digital Monitoring in OML 17

The Heirs Energies OML 17 Joint Venture, working together with Redtech, has introduced its Integrated Operations Monitoring Centre, a cutting-edge digital operations center aimed at changing how upstream assets are observed, controlled, and enhanced.

As per the company, the initiation represents a major achievement in the partnership's dedication to outstanding operations, creativity, and tech-based efficiency through consolidating operational insights, production tracking, safety monitoring, hydrocarbon removal, infrastructure effectiveness, and essential equipment information within one unified system.

In a press release, the firm mentioned that the control center, created as part of a partnership involving Heirs Energies—owner of OML 17—and Redtech, the tech firm under the Heirs Holdings Group, signifies the merging of energy knowledge with digital advancement. This aims to facilitate quicker decisions, better teamwork, and enhanced oversight throughout OML 17.

At the event's launch, Osa Igiehon, CEO of Heirs Energies, stated that the center will offer immediate insight into the company's activities and enhance productivity.

"The future of early-stage activities will be shaped by information, advancements in technology, and smart choices. The Centralized Operational Surveillance Hub offers us an immediate overview of our facilities, allowing for faster decisions, better teamwork, and increased work effectiveness. This highlights our dedication to applying new ideas to ensure safer, more efficient, and stronger processes within OML 17," stated the CEO.

As per the company, the Integrated Operations Monitoring Centre acts as the digital hub of the partnership by combining operational information from various systems onto one platform, which facilitates informed decisions, enhances productivity, ensures equipment reliability, and manages operational risks.

It mentioned that the center further enhances the protection of OML 17's distant assets via an intrusion detection and monitoring system, allowing for live tracking, prompt identification of potential threats, and quicker reaction to incidents at key sites and structures.

The company stated that in addition to real-time tracking, the center serves as a basis for upcoming features such as predictive analysis, remote management, AI-driven assistance systems, and enhanced operational efficiency.

The Managing Director and CEO of Redtech, Emmanuel Ojo, stated that the initiative highlights the role of technology in overcoming operational issues.

He stated, "At Redtech, we hold the belief that technology ought to streamline processes, enhance decision-making, and generate tangible business benefits. The IOMC showcases what can be achieved when digital advancements are integrated into industrial activities. In collaboration with Heirs Energies, we've developed a system that supports interconnected operations, smart surveillance, and quicker responses to operational needs. This serves as yet another illustration of how technology can boost efficiency and effectiveness within Africa's energy industry."

It was stated that following the takeover of OML 17 in 2021, Heirs Energies has enhanced one of Nigeria's most significant onshore properties using its Brownfield Excellence approach, boosting crude output beyond 50,000 barrels daily while extending local natural gas availability to more than 135 million standard cubic feet each day and enhancing system dependability.

As per the company, the introduction of the Integrated Operations Monitoring Center marks the subsequent stage of this change by integrating digital skills into the core of on-site activities and highlighting the partnership's dedication to secure, effective, and tech-driven energy generation.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Leading Property Firm Rebrands for Global Expansion

The leading real estate company in Zimbabwe has formally changed its name to HSP Realty, abandoning its previous House of Stone Properties branding as part of an ambitious shift designed to expand into global property markets without losing its respected regional reputation.

The new branding, which takes effect right away, goes well beyond a superficial update.

As per the firm, this indicates a conscious shift to match the growing global real estate market, where investor trust and brand awareness go beyond country lines.

The simplified name aims to connect with various markets as the company increases its participation in real estate deals outside of Zimbabwe.

"Real estate's future is international," stated Leonita Mhishi, chief licensed property agent at HSP Realty.

Our new brand is briefer, more powerful, and easier to remember, symbolizing our growing global reach and dedication to exceptional service.

The company’s updated visual brand, showcasing bold red and golden hues, represents trust, luxury, quality, and possibility—values the organization claims will support its upcoming stage of expansion.

A major internal transformation underlies the new identity.

HSP Realty has improved its management frameworks, broadened its expertise, and upgraded its operational processes to serve both regional and global customers more effectively.

Collaborative alliances play a key role in the company's expansion path, especially in creating prospects for purchasers, vendors, financiers, and real estate builders.

The organization is presenting itself as an all-encompassing real estate service firm, integrating conventional brokering with support for investments and consulting services.

The company reassured clients that they need not be concerned about interruptions.

Every current agreement and active transaction will continue smoothly under the newly established HSP Realty brand.

"Although the name has changed, our promises remain the same," Mhishi said.

Based at 21 Harare Drive, Borrowdale, Harare, the company remains dedicated to serving customers with its energetic slogan: "SPOT IT. SEE IT. SECURE IT."

"This goes beyond a new brand identity; it represents a clear declaration of purpose," Mhishi mentioned.

Our aim is to establish a real estate firm that operates on an international scale while staying true to the principles that have established House of Stone Properties as a reliable brand in Zimbabwe.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

China Shows Willingness to Address Huge EU Trade Surplus Amid Bracing European Stance

Beijing proposed purchasing additional European products as the EU considers new trading mechanisms and demands concrete advancements by October.

China has expressed willingness to examine methods for reducing its significant trade surplus with the European Union during meetings held in Brussels on Monday, as reported by several individuals who were informed about the conversation.

Chinese Trade Minister Wang Wentao indicated to EU trade representative Maros Sefcovic that China might be open to signing deals for purchasing European products. The conversation included topics about reducing taxes on goods from the EU, marking an unusual acknowledgment from China that its daily trade surplus of billions of euros has turned into a political issue.

In connection with this, Beijing is also, possibly unexpectedly, willing to moderate its rapid growth in exports to the 27-nation bloc, raising concerns that European producers could be overwhelmed by low-cost and continuously improving Chinese products. However, according to some individuals, Wang showed greater interest in boosting imports from Europe.

Are you curious about the major issues and developments happening globally? Find your answers here with SCMP Knowledge Our latest platform featuring carefully selected content, including explanations, frequently asked questions, analysis, and visual graphics, presented by our acclaimed team.

In public, Beijing has minimized the importance of the trade deficit, stating that it is merely due to European demand for Chinese products. During earlier discussions, Chinese representatives mentioned that Dutch restrictions on high-end equipment used in chip manufacturing hinder their ability to adjust trade balances.

The noticeable change observed on Monday might stem from a growing European Union interest in enhancing its approach toward China by introducing fresh strategies after discussions among member nations took place last month.

The European Union aims to employ tariff-rate quotas to curb the influx of Chinese goods entering EU ports within critical industries. This dual-level approach—referred to as safeguard measures—would permit a set amount of a particular item to be imported into a nation at a lower duty rate. After this cap has been exceeded, further imports would face considerably increased tariffs.

Only in May, the EU's trade gap with China increased by 15 percent In comparison to the previous year, Germany's deficit increased by 31.6 percent. Last year, the deficit rose above $410 billion, a figure labeled by European Union officials as "unmanageable."

Sefcovic updated EU envoys about the discussions held on Wednesday, where he outlined intentions to create two new mechanisms to be finalized later this year as the Commission seeks fresh approaches to address its disparities with China in case talks do not succeed.

First, as a strategy for diversification, it would require businesses to broaden their list of suppliers to prevent risky reliance within essential industries.

The second one, a support system, would provide compensation to businesses facing retaliatory measures during a trade conflict, potentially allowing the EU more room to increase tensions when required, as it might ease worries about being singled out.

Sefcovic stated on Monday that discussions were "intense, concentrated, and productive," adding that there was "far greater comprehension of the shared difficulties facing Europe from our Chinese partners compared to what we previously experienced."

He established an October deadline for discussions with Beijing to demonstrate "concrete outcomes," a schedule aligning with the directive provided to the European Commission by EU leaders earlier this month to develop new measures for addressing the uneven dynamic during the fall.

On Thursday, Brussels received significant support as Germany announced its agreement with a more stringent EU approach toward China, with fresh governmental reform proposals calling for broad-based actions to address "unfair competition."

A message was included in a set of reforms aimed at revitalizing the struggling German economy and indicated backing for expanding the EU's trading tools to address what is often referred to as the " China shock " to European industry.

"Strong safeguards against unjust competition are necessary, especially with quicker and industry-wide implementation of antidumping and antisubsidy measures across Europe," stated the German policy paper.

At present, the European Union mainly relies on narrowly focused product-specific tariffs to address unjust trading practices, although it has considered employing safeguard measures more regularly, or possibly creating a new trade tool to enable targeting whole industries within a single nation.

The German report added, 'Efforts to bypass these security measures should be strongly countered, and global economic inequalities and discrepancies need to be tackled.'

Delivering the proposals in Berlin, Chancellor Friedrich Merz stated: "We do not wish for trade disparities of the present scale to occur or increase further."

Sefcovic is set to visit Beijing in October. However, European Union representatives anticipate a busy summer filled with low-level negotiations with their Chinese counterparts as both parties strive to identify a way out of a worsening trade conflict.

However, indications suggest that the block's efforts to reduce its economic ties with Beijing will proceed swiftly, accompanied by a series of sharp criticisms following Monday's discussions.

On Thursday, the committee initiated an investigation into certain Chinese-manufactured batteries—those commonly found in TV remote controls and other home devices—following concerns raised by European businesses.

On Wednesday, it implemented a Euro3 (US$3.43) processing fee for packages worth less than Euro150 (US$171) entering the European Union market, as postal companies cautioned that they have been inundated with inexpensive items purchased from Chinese online shopping sites such as Temu and Shein.

Additionally, on Wednesday, the tariff rate for steel imports exceeding quotas was increased to 50 percent, following the expiration of an earlier temporary measure. These duties affect steel coming from all over the globe, although the decision was primarily driven by an oversupply resulting mainly from Chinese production.

Manfred Weber, head of the European Parliament's biggest faction, the European People's Party, cautioned on Wednesday that the EU risks entering a "period of confrontation" with China unless an agreement is reached by fall.

We must significantly alter our strategy toward China," Weber said to Euronews. "We require a fresh framework where it is made clear that subsidies do not belong within a free-market system.

More Articles from SCMP

Wang Yi advises Marco Rubio to handle matters concerning Taiwan with "the greatest care"

Consequences of Venezuela's earthquake, Sino-Colombian connections: 7 relationships in Latin America

Alibaba files lawsuit against the Pentagon, a rare earth agreement faces test, Taiwan weapons: 7 key updates on U.S.-China relations

Can China's container-based aircraft launch system change the principles of contemporary combat?

The article was first published on the South China Morning Post (www.scmp.com), a top-tier news outlet covering developments in China and Asia.

© 2026. South China Morning Post Publishers Ltd. All rights reserved.

EU Auto Sector Feuds Over Strategy to Counter Chinese Rivals

European automotive suppliers and producers hold differing opinions about Brussels' "Made in Europe" initiative, which aims to protect the European market from Chinese competition.

The European automotive sector is encountering intense rivalry from Chinese manufacturers, putting millions of jobs within the union at risk. In response, the EU is developing what is known as the Industrial Acceleration Act, aimed at promoting electric vehicles predominantly made using European parts through government contracts and financial assistance programs.

Nevertheless, automotive suppliers and makers within the EU differ in their opinions about the upcoming legislation, now being discussed among EU nations and the European Parliament, which establishes a 70% domestic component requirement for electric vehicles.

As stated by the European Association of Automotive Suppliers (CLEPA), the Commission's suggestion represents progress in the correct direction. According to a report obtained by Euronews from management consulting firm Roland Berger, plug-in hybrid electric vehicles and battery-powered cars produced in Europe currently have between 80% and 90% locally sourced parts.

Therefore, it views the Commission's 70 percent benchmark as attainable.

However, the European Automobile Manufacturers' Association (ACEA) is advocating for an alternative approach, where authorities would evaluate completed vehicles rather than the locally sourced parts within them.

"A car represents much more than just its individual components. Its worth is also derived from research and development, cutting-edge engineering, and the expertise of its dedicated team," stated ACEA in a policy document released on July 1st.

CLEPA stated that according to this approach, a completed vehicle would need just 50 percent European-manufactured parts and components, with the rest 20 percent originating from research, development, and other processes.

A 20 percentage-point reduction in the mandate for EU-produced components "might lead to the loss of 350,000 jobs," CLEPA cautioned, adding that the Commission's method focused on individual components would "protect the current production infrastructure."

"Currently, we're witnessing strong competition from low-cost nations, and the major issue everyone is aware of is China," said Benjamin Krieger, Secretary General of CLEPA, during an interview with Euronews.

“A 'Made in Europe' limit that overlooks where the real components are manufactured is a designation that disregards the European employee," he stated.

Tea Stuck in Mombasa: Farmers Face Growing Losses

Approximately 1.7 million kilograms of tea intended for Sudan is still stuck in storage facilities in Mombasa, over a year since Sudan halted the importation of Kenyan tea.

The Kenya tea industry keeps experiencing financial setbacks due to the shutdown of the Sudanese market, ongoing restrictions on access to the Iranian market, and the implementation of a new tea tax based on product value. Traders have expressed concerns that these factors together are negatively affecting farmers, export businesses, and the nation's standing in the Mombasa Tea Auction.

Kenyan traders lament the loss of an $80 million opportunity in Iranian and Sudanese tea markets The East Africa Tea Trade Association (Eatta), responsible for overseeing the Mombasa Tea Auction, stated that the prohibition has had a severe impact on the BP1 tea category, mainly acquired by purchasers from Sudan. "We still hold over 1.7 million kilograms of tea intended for the Sudanese market, which were procured in April 2025, and remain labeled and kept in storage facilities in Mombasa," mentioned Eatta’s Managing Director, George Omuga.

The tea was specially packed for Sudanese customers, preventing exporters from rerouting the shipments without facing extra expenses. Purchasers still cover warehousing fees as the tea gradually deteriorates in quality and decreases in market worth during storage.

Apart from the stranded tea, importers had previously poured significant resources into basic and additional packing supplies labeled specifically for the Sudanese market, increasing their monetary setbacks."We possess packaging items valued at several hundred dollars meant for Sudanese tea. We can’t utilize them anymore. This constitutes a loss for us," mentioned Hussein Gulam, a tea seller based in Mombasa.

Eatta mentioned that following Sudan's implementation of the import restriction, the price of BP1 tea has not bounced back. Although certain shipments manage to reach Sudan via third countries after being restocked, this roundabout trading method greatly raises expenses."Farmers are struggling as prices remain low, whereas Sudanese customers end up paying considerably more once the tea passes through other nations before arriving in Sudan," Mr. Omuga stated.

Tea merchants are calling on the Kenyan administration to communicate with Sudanese officials to reinstate direct commerce, contending that Khartoum continues to be one of Kenya's key markets due to its closeness.

In contrast to numerous international markets, tea transported through the Port of Mombasa arrives in Sudan in just three to five days, positioning it as one of the quickest and most economical routes for exporting Kenyan tea.

Market Forces: The organization also voiced worry about Kenya's inability to restore access to the Iranian market, which has traditionally been one of the nation's major purchasers of Orthodox tea.

Even though the Orthodox Tea Auction began effectively in Mombasa in September 2025, those involved in the sector believe growing this area will face challenges unless commerce with Iran is revived.

They caution that extended delays might prompt Iranian purchasers to seek tea from rival production nations, diminishing Kenya's sustained standing in the high-quality Orthodox tea sector.

The sector is pushing manufacturers to shift their focus from conventional Crush, Tear and Curl (CTC) tea towards a greater output of Orthodox and premium varieties.

Mr. Omuga stated that worldwide output of CTC tea has exceeded consumer needs, leading to an imbalance that keeps prices low.

Increasing the output of Orthodox and specialized teas would enhance Kenya's range of products, distribute market risks more evenly, and enable farmers to achieve higher profits through high-value offerings.

The group also stated that dialogue with Iran must persist amid ongoing turmoil in the Middle East, emphasizing that commercial ties should remain intact as much as feasible.

Effect of levy Meanwhile, traders state that market conditions this year should have supported much higher tea prices.

Last year, Kenya's tea output fell by over 50 million kilograms, leading to lower stock levels carried forward into 2026.

Sri Lanka, Kenya's primary exporter rival, is expected to experience a drop in output ranging from 25% to 30% as a result of significant storm-related destruction in its tea-producing areas.

As resources become scarcer among two of the top global tea suppliers, market participants expected a significant rise in prices during the Mombasa Tea Auction.

This projection was interrupted when Nairobi implemented the tea tax in May 2026.

As per merchants, the market responded swiftly, with tea consumption decreasing in the initial two weeks following the policy launch, especially for high-quality teas manufactured east of the Rift Valley.

Rwandan tea makes an appearance at auctions while Kenyan supplies face accumulation due to export charges. Tea merchants link this drop to the choice of implementing the tax based on the worth of tea instead of the amount sold. They claim that a valuation-focused charge disadvantages premium teas by increasing their cost for purchasers, leading numerous global traders to seek out different providers. Consequently, consumers have started favoring teas from western Kenya, Rwanda, Burundi, Tanzania, and Uganda.

As per weekly updates from Eatta, the uptake of tea in nearby nations continues to be robust, surpassing 95% in Uganda and achieving full coverage in both Tanzania and Burundi.

Stakeholders in the industry claim that Kenyan farmers have experienced the highest impact from the tax, noting that high-quality tea produced in eastern regions of the Rift Valley has had difficulty recovering since May even though market demand has improved.

They believe that, in the absence of the tax, bid prices might have ranged from $2.70 to $2.80 per kilogram, backed by lower worldwide output and increased foreign demand.

Tea merchants are currently calling on the government to reconsider the tax and propose charging it based on quantity, or per kilogram, instead of depending on the price of the tea.

As per Eatta, a tax based on volume is the globally recognized approach and would prevent punishing those who produce more expensive teas, while also ensuring income for oversight purposes.

The Mombasa Tea Auction, catering to growers across 10 African nations, continues to be the area's most significant venue for tea transactions.

Key industry players have cautioned that without Kenya regaining important export markets and revising policies impacting competitiveness, local tea growers may continue to lose ground in the global market, even with positive worldwide supply trends. Provided by SyndiGate Media Inc. Syndigate.info ).

Cyber Threat Maps Vary by Region: Japan, Taiwan, Middle East

The Interpol organization, responsible for combating international criminal activities, consistently collaborates with a South Korean enterprise when dealing with cybercrime cases. This business entity is known as S2W, an artificial intelligence-driven cybersecurity company specializing in large-scale data analytics, often referred to as the "South Korean equivalent of Palantir." Their main offerings include "Jarvis" and "Quasar," advanced tools designed to process extensive datasets obtained from platforms such as the dark web, Telegram, blockchain, and more, utilizing AI technology to identify and notify governmental bodies and corporations regarding potential security risks and cyberattacks.

S2W is the sole Korean domestic firm involved in Interpol's public-private collaboration initiative known as the "Gateway Initiative." Due to this engagement, it enjoys greater recognition internationally compared to within South Korea itself. The company distributes its offerings across countries such as Singapore, Taiwan, Indonesia, Saudi Arabia, Greece, and various other regions. On June 23, it established a local branch office in Tokyo, Japan, aiming to expedite its expansion into the Japanese marketplace.

The CEO of S2W, Suh Sang-duk, was interviewed at the firm's office in Seongnam, Gyeonggi Province, on June 18 regarding current cybersecurity challenges across different nations. Suh remarked, "Cyber dangers transcend national boundaries," emphasizing, "It is essential to consistently gather and examine threat information worldwide, while adapting effectively to local conditions."

◇ Japan Braces for Proliferation of "South Korean-Type Cybercrime"

S2W's present emphasis lies on Japan. It extended its agreement with a Japanese governmental body in March, increasing the contract amount threefold. Suh stated, "A traditional society that depended on cash transactions and direct interactions witnessed numerous changes toward contactless systems following the COVID-19 pandemic, resulting in an increase in cybercriminal activities." Specifically, Japan remains vigilant because cybercrime trends initially observed in South Korea—nations undergoing swift digital transformations—are anticipated to appear later. Both nations encounter regular cyberattacks originating from North Korea and China.

A significant market is Taiwan. Being a major center for semiconductors and production, it faces substantial threats from cybercriminals and ransomware organizations. Suh stated, "By the first half of this year, Taiwan experienced the highest number of ransomware incidents in Asia," further mentioning, "Government departments, international technology corporations, maritime businesses, and more are all facing these assaults."

Indonesia encounters substantial security challenges as well. He stated, "Political unrest has resulted in numerous hacktivist groups directing their efforts toward the government, further intensified by strong cyber abilities possessed by nearby nations such as China." Singapore, an international financial center, specifically concentrates on protecting itself from assaults originating from North Korea and China, along with overseeing illicit trafficking pathways that go through the nation.

◇ A 'Cyber Conflict' Between the Middle East and Europe

The present-day digital environment can be described as a "battlefield." Suh highlighted four nations—North Korea, China, Russia, and Iran—as major actors, noting, "These regimes back hacker teams that breach enemy countries in advance of causing severe damage to essential systems such as electricity networks."

This scenario is particularly clear in the Middle East, where disputes involving Israel and instances of Iranian cyberattacks occur regularly. There is a strong demand for analyzing Telegram data. Suh noted, "Telegram is easier to access compared to the dark web, resulting in quicker uploads and greater sharing of information. Following the conflicts in the Middle East, advanced persistent threat (APT) groups and hacktivists have chosen Telegram as their primary platform, greatly boosting local interest." The area tends to prefer offerings from South Korea, Russia, and China rather than American services.

In Europe, rules such as the European Union's General Data Protection Regulation (GDPR) have emerged as a key factor for security firms. Suh mentioned, "Although Western Europe continues to be a bigger market, interest in cyber protection in Eastern Europe has increased consistently since the conflict between Russia and Ukraine began."

Expanding into international markets hasn't been without challenges. After setting up a U.S. branch in 2022, S2W faced difficulties because of powerful regional rivals. This situation highlighted the significance of employing local specialists to manage activities and developing an effective distribution system. As for upcoming objectives, Suh stated, "S2W is shifting from merely gathering and managing data to organizing it within relevant contexts for decision-making purposes, with the aim of becoming a worldwide data analytics firm connecting security and various industries."

• $5,900 monthly membership, $2,900 for newspaper readers, Chosun Membership
• Access 8 newspapers and magazines worth 55,000 won freely, Chosun Membership
• Receive 7000 points as cash for smart shopping, Chosun Membership

Beijing: China-EU Trade Talks Set for Fall, Held Annually

China and the European Union will conduct high-level trade discussions one or two times annually, according to China's Ministry of Commerce on Thursday, as both parties aim to boost and adjust their commercial relations.

The European Union is experiencing increasing demands to cut down its trade imbalance with China, which expanded to approximately 360 billion euros ($410 billion) in the previous year, equivalent to almost one billion euros daily. Chinese automobiles and battery products are some of the goods being more frequently shipped to Europe.

According to a new China-EU trade and investment dialogue framework, Beijing has also extended an invitation for European Union Trade Commissioner Maroš Šefčovič to travel to China during the fall, stated Ministry spokesman He Yadong to journalists.

He mentioned that both parties plan to enhance their cooperation in fields such as artificial intelligence and the shift toward sustainable energy sources.

Beijing's comments came after a discussion held between Šefčovič and Wang Wentao, China's trade minister, on Monday in Brussels. Following the meeting, Šefčovič stated he plans to visit Beijing this autumn.

With the growing trade deficit between China and the European Union, Europe must "protect our manufacturing sector and continue striving for fair competition worldwide," Šefčovič stated. He has established an October deadline for substantial progress on balancing trade relations.

On Wednesday, fresh EU regulations aimed at safeguarding the European steel sector and restricting small online shipments came into force, primarily directed at Chinese companies and imported goods.

A social media account affiliated with Chinese state media, Yuyuantantian, stated in a recent posting that China is open to boosting its purchases from the European Union; however, the EU must ease restrictions on exporting advanced technology goods to China and avoid turning trade and economic matters into tools for confrontation.

In June, heads of state from the G7 countries released a shared statement emphasizing the importance of strengthening their supply networks for essential minerals, which are vital for numerous advanced technology and military industries, as part of efforts to decrease dependence on China.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

**"Ennova: Empowering Youth Entrepreneurs – AFA's Spotlight on SMEs Day"** Let me know if you'd like a version with more emphasis on the award nomination!

The ENNOVA platform, which focuses on supporting entrepreneurs within the African Development Bank Group, has received a nomination for a "Salute to Excellence Award" from The National Association of Black Journalists (NABJ).

The Bank designed ENNOVA To encourage an entrepreneurial mindset among young people in Africa. The AI-driven online platform provides resources, training programs, and connections to enhance youth business ventures, improve digital competencies, and link African entrepreneurs with employment and financial support possibilities.

The leading organization for journalists and media professionals from ethnic backgrounds in America presents these awards to honor outstanding reporting and communication efforts that effectively highlight the experiences and topics related to the African and African American diaspora.

The Bank’s ENNOVA initiative and promotional campaign has been shortlisted for the Salute to Excellence Awards in the "PR and Marketing Campaigns: Cause-Related Business" category. The Bank collaborated with five organizations focused on development to introduce ENNOVA, and the communication efforts led to a 58.8% rise in service platform users within less than ten months.

Managed by the Innovation and Entrepreneurship Lab within the Bank’s Human Capital, Youth and Skills Development Department, ENNOVA launched its initiative in February 2025 during a keynote gathering at the Sankalp Africa Summit, which is considered one of Africa's most significant events focused on entrepreneurship and sustainability. The discussion along with the Bank-sponsored exhibition stand highlighted how ENNOVA links entrepreneurs, universities, financiers, and business assistance organizations—groups committed to supporting new ventures, small businesses, and expanding enterprises to grow effectively.

The Bank's Recognition of Outstanding Achievement Awards mention a collection of Bank communications launched during the ENNOVA event and shared until the end of December 2025, including an ENNOVA explanation. videos and launch event summary video , press release exhibition stand promotion, media interaction, social media content highlighting ENNOVA offerings, a youth beneficiary blog and the ENNOVA platform itself .

View here to watch and discover additional information regarding the ENNOVA initiative aimed at young business owners.

"Being nominated for this Salute to Excellence Awards recognizes ENNOVA's role in supporting the African Development Bank Group's mission of improving skill development and employment prospects for young people and women across Africa, and turning these groups into an economic advantage," stated Dr. Martha Phiri, the Bank’s Director for Human Capital, Youth, and Skills Development.

After the event at the Sankalp Africa Summit, over a third of the approximately 1,500 participants signed up for ENNOVA.

"I learned about ENNOVA and believe it's an excellent platform since it facilitates knowledge exchange, allowing investors and entrepreneurs like me to access information all in one place," stated Nelly Ngongoro, a young entrepreneur signing up for ENNOVA.

The advancement of ENNOVA has been facilitated by supportive development partners who align with its mission to promote young entrepreneurial ventures, creativity, and employment opportunities throughout Africa. These include: the Fund for African Private Sector Assistance; the Organization of African, Caribbean, and Pacific States; Korea-Africa Economic Partnership; the European Commission; and the Swiss government.

The recipients of the Salute to Excellence Awards will be revealed at the National Association of Black Journalists Conference & Career Fair taking place in August in Atlanta, Georgia, USA.

For further information regarding ENNOVA's capabilities, click here to view the program's information leaflet.

© 2026 African Development Bank. All rights reserved. Published by AllAfrica Global Media (Ants).

Tagged: Economy, Business and Finance, Africa, International Organizations and Africa, Children and Youth, External Relations

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Desert to Power: Key Contracts Signed for 1,373 km Transmission Line Between Mauritania and Mali

The African Development Bank observed the signing of three project execution agreements with the Manantali Energy Management Company (SOGEM), representing a significant step forward in advancing the 225 kV Mauritania-Mali Power Connection Initiative.

The agreements were finalized in April 2026 with SOGEM, the division of the Senegal River Basin Development Organization tasked with implementing significant power supply initiatives.

The 225 kV Mauritania-Mali Power Interconnection Initiative focuses on building a 225 kV high-tension electrical network connecting key regions across Mauritania and Mali, aiming to enhance the dependability of electric service, support cross-border energy exchange, and strengthen the consistency of both nations' power systems.

The acquisitions represent a major advancement in the execution of this initiative, which will aid in enhancing regional energy links and promote economic and social growth in both Mauritania and Mali.

Three pacts, finalized by SOGEM’s CEO, Julien Charles Bernard Sagna, along with the involved firms, will support the development of a 225 kV dual-circuit high-tension power line stretching from Kiffa-Tintane-Yélimané, an essential route linking Mauritania and Mali, to promote transnational energy exchange.

The event was attended by Mauritania's Minister of Economic Affairs and Development, Abdallah Ould Souleymane Cheikh Sidiya, Minister of Energy and Petroleum, Mohamed Ould Khaled, and Malinne Blomberg, Country Manager for Mauritania at the African Development Bank Group.

The contracts also encompass the building of the 225 kV dual-circuit high-voltage Tintane-Aioun transmission line, designed to enhance Mauritania's power network and increase electrical accessibility in the specified regions. Additionally, the agreements involve oversight and inspection services for the projects to guarantee adherence to technical requirements, quality benchmarks, and prompt execution of the initiative.

The initiative falls under the umbrella of the African Development Bank Group's Desert to Power Initiative which seeks to produce 10 gigawatts of solar power to bring electrical supply to 250 million individuals in eleven nations within the Sahel area, ranging from Senegal in the western part to Djibouti in the eastern section of Africa. It also supports the goals of Mission 300 - a collaborative effort between the African Development Bank Group and the World Bank Group, seeking to deliver power connectivity to 300 million individuals throughout Africa by 2030.

Praising the initiative as an "electric path of hope," Mohamed Ould Khaled highlighted that the project's initiation establishes the groundwork for a more unified regional power market "able to foster economic development and steadily enhance the quality of life for residents."

" The initiation of the project highlights the African Development Bank's ongoing dedication to aiding Sahel nations in attaining widespread electrical connectivity by 2030," stated Malinne Blomberg.

In total, the project aims to establish a 1,373-kilometer transmission link connecting the electrical networks of both nations. This initiative will enhance regional cooperation, enable the exchange of renewable energy—especially solar power—and contribute to widespread availability of dependable and cost-effective electricity.

In addition to its technological aspects, the initiative aims to lower expenses related to power generation, enhance energy safety, foster industrial and economic growth in the regions it serves, and gradually elevate the quality of life for residents. It is anticipated that the project will be finished by 2030.

© 2026 African Development Bank. All rights reserved. Published by AllAfrica Global Media (Ants).

Tagged: Construction, Mauritania, Mali, Economy, Business and Finance, Energy, Industry and Infrastructure, West Africa

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Empowering Health Leaders: How Rwanda’s Cebe Project Is Revamping the Nation’s Healthcare System

Many individuals in Rwanda who live with disabilities find that access to assistive devices makes all the difference between relying on others and being self-sufficient, as well as between feeling alone and having chances for growth. These transformative solutions are supported by an increasing number of trained healthcare workers committed to assisting people in recovering movement, respect, and self-assurance.

Among them is Jackline Mupenzi Gatsinzi, whose professional journey has been driven by a dedication to enhancing the quality of life for individuals with disabilities.

Her path started in 2014 when she joined an Advanced Diploma program in Prosthetics and Orthotics at the University of Rwanda, motivated by a wish to support individuals in overcoming physical challenges using assistive devices. This chance was made possible by the East African Regional Center of Excellence in Biomedical Engineering and e-Health (CEBE) funded by the African Development Bank, allowing her to move from a bachelor’s degree to a master’s level. This experience improved Gatsinzi's technical abilities, expanded her knowledge, and increased her capacity to aid those relying on assistive technologies.

Following her graduation in 2017, Gatsinzi began working at the University of Rwanda as a clinical teacher within the Prosthetics and Orthotics Division, playing a role in delivering rehabilitative care and educating upcoming professionals.

This chance went beyond enhancing my academic journey; it broadened my knowledge, improved my abilities, and strengthened my dedication to supporting individuals with disabilities. Gatsinzi stated, "I now possess the resources necessary to create a more significant influence, enhancing people's lives and supporting the health and vitality of our neighborhoods."

While working with patients, Gatsinzi witnessed directly how well-designed prosthetic and orthotic equipment can change people's lives. People who had lost their ability to move found new freedom. Kids could go to school more conveniently. Adults went back to their jobs and active participation in society. However, she also realized the necessity of having more professionals to handle the increasing need for high-quality rehabilitation support.

Currently, Jackline works as a licensed prosthetist and orthotist, along with being an assistant lecturer and head of the department at the College of Medicine and Health Sciences within the University of Rwanda. She develops approaches that enhance movement and daily function for individuals living with disabilities, while also guiding and educating upcoming experts in the field. Her contributions have effects that go well beyond personal patients, influencing families, entire communities, and tomorrow’s medical practitioners.

Her narrative symbolizes a larger shift occurring within Rwanda’s healthcare system. By offering specialized education and skill-building programs, CEBE has cultivated almost 200 proficient graduates in biomedical engineering, e-health, and associated disciplines, with over 400 healthcare workers gaining hands-on experience in managing medical devices and digital health technologies. These individuals are supporting hospitals and clinics in maintaining essential medical tools, enhancing service efficiency, and ensuring that patients get prompt, high-quality treatment.

According to Peter Malinga, chief social economist at the Bank's office in Rwanda And the CEBE project task manager, the project's influence extends far beyond just training people.

CEBE is supporting the development of a new wave of well-trained biomedical engineers and digital health experts who are enhancing medical care throughout Rwanda and the surrounding area. Above all, it is establishing sustainable solutions that will elevate the standard of healthcare provided to local populations.

For Jackline, the initiative goes beyond career growth. It signifies a commitment to individuals—those who receive support and those dedicated to providing it.

"By means of initiatives such as the Centre of Excellence, the African Development Bank is cultivating a new group of experts prepared to address our continent's issues through creativity, empathy, and strength," she stated.

© 2026 African Development Bank. All rights reserved. Published by AllAfrica Global Media (Ants).

Tagged: Economy, Business and Finance, Rwanda, Health and Medicine, Innovation, ICT and Telecom, Central Africa, East Africa

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Nation Unveils Roadmap and Land Accountability Report for Economic Growth and Climate Resilience

Addis Ababa, June 30, 2026 (ENA) – The National Capital Accounting (NCA) Strategy for Ethiopia and the first edition of the Land Account report were unveiled today.

The Natural Capital Accounting (NCA) Strategy of Ethiopia incorporates natural resources—including land, woodlands, and water—into the nation's economic planning process; this initiative creates a strong structure for evaluating the long-term viability of the country's economic growth.

Another document, Ethiopia's First Edition Land Account, serves as a key achievement in support of the nation's efforts toward climate resilience. These accounts illustrate changes in land use and land cover through the application of satellite images, geographic information systems (GIS), and uniform data categorization.

It has been reported that they are anticipated to establish a physical and economic foundation which enables governmental bodies to monitor the effects of extensive land management initiatives, afforestation efforts, and programs aimed at achieving land degradation neutrality.

At the launch event, Bereket Fesehatsion, State Minister of the Ministry of Planning and Development, stated that the occasion goes beyond simply unveiling two significant reports. It also represents a reaffirmation of a common national objective rooted in data-driven policy formulation, prudent management of natural resources, and a strong dedication to shaping a future where economic growth and ecological balance move forward together.

The land records of Ethiopia will not be the final ones, as institutional capabilities grow and methodologies advance, leading to an enhanced comprehension of the country's total resources, he stated.

He stated that data itself isn't enough to bring about change; successful implementation depends on collaboration. The State Minister emphasized the importance of unified action from all involved parties—government agencies, the business community, non-governmental organizations, research bodies, educational institutions, and global development allies—to work together on this common initiative.

He emphasized that together, we must make sure these reports influence policy, direct investments, and affect decisions at all levels.

Acknowledging the advancements made shows what can be accomplished when organizations work together with clear objectives and mutual dedication, Bereket mentioned that the Ministry continues to strongly support integrating natural capital accounting into the core of Ethiopia's planning processes.

Head of World Bank Operations Juliana Victor stated, in her view, that these initiatives would hold substantial importance for safeguarding and maintaining natural resources.

She pointed out that these launches demonstrate a more robust strategy for growth.

"Natural capital hasn't been adequately considered in our economic choices, and when nature isn't accounted for, it tends to be underappreciated and exploited. Once it's devalued, it becomes difficult to incorporate. Therefore, the roadmap will also assist in addressing this issue," the manager stated.

As she mentioned, this accomplishment highlights several years of collaboration, institutional growth, and technical assistance within the World Bank's local and sustainable development program consulting and analysis initiatives.

Supplied by SyndiGate Media Inc. ( Syndigate.info ).

Lake Chad Basin and AfDB Unveil Major Initiative to Revive the Shrinking Lake

Last May, the African Development Bank Group, the Lake Chad Basin Commission (CBLT), and the commission’s five member nations initiated a $10 million technical assistance initiative aimed at preparing the necessary investments to revive the environmental and economic roles of Lake Chad and enhance the durability of life for millions relying on its resources.

The Project for Technical Assistance in Restoring the Ecological and Economic Functions of the Lake Chad Basin (PARFEBALT) supported by the African Development Fund, along with extra funding from the CBLT which covers 10% of the project’s overall expenses, aims to increase understanding of the basin's water resources and strengthen their management.

At the start of the project initiation workshop, Passalet Kanabé Marcelin, Chad's Minister responsible for Water and Energy and currently leading the CBLT Council of Ministers, highlighted that the Lake Chad region plays a crucial role for millions of individuals, with their daily lives closely tied to access to water, farming activities, fishery, and animal husbandry.

PARFEBALT is a technical support initiative, yet primarily, it focuses on preparing for what lies ahead: its objective is to enhance understanding of water resources, upgrade management practices related to water and ecosystems, and establish the prerequisites needed to secure financing for an impactful regional investment strategy. Minister Marcelin mentioned, emphasizing the critical role of the initiative in addressing the cumulative impacts of climate change, environmental decline, and increasing demands on limited resources.

Participants at the workshop examined technical reports that will inform upcoming investments within the basin. These studies aim to explore methods for enhancing water flow in the Chari-Logone and Komadougou-Yobe river systems, which supply the majority of Lake Chad’s incoming water, while considering environmentally sound approaches to increase the lake's water levels. Additionally, they will analyze ecological, climate-related, economic, and societal aspects to determine the most effective strategies for revitalizing the region.

Acknowledging the increasing effects of climate change, the initiative aims to create a regional early-alert system to enhance predictions of floods and droughts, as well as implement advanced technologies for modeling and managing water resources. These actions will offer CBLT member countries more accurate information to shape their water management strategies and boost community resilience.

On behalf of the African Development Bank Group, Francis Dogo, the Country Manager for Chad, emphasized the critical need to address long-standing environmental damage within the region.

Lake Chad, among Africa’s major sources of fresh water, has experienced a substantial reduction in its size over the past few decades, decreasing from 25,000 square kilometers in 1960 to approximately 2,500 square kilometers at its lowest points, though there have been some improvements recently. Dogo said.

He pointed out that frequent droughts and flooding, excessive use of natural resources, disputes between agriculturalists and livestock keepers, and instability still pose risks to the region, emphasizing that improved cross-border water administration is crucial for promoting regional unity, improving food safety, and strengthening community endurance.

Attendees concurred that the research and instruments created within the PARFEBALT initiative would set the stage for attracting significant funding to revive the lake's water systems, rejuvenate farming, animal husbandry, and fishing activities, lessen populations' susceptibility to climate-related disruptions, and support peace in an area inhabited by over 40 million individuals.

The seminar ended with suggestions aimed at improving dialogue regarding the initiative to aid funding acquisition, speed up the implementation of national contact persons, bolster the Technical Monitoring Committee through added top-tier knowledge, and improve methods for tracking and assessing the project.

Stressing the African Development Bank's ongoing dedication to the project, Dogo stated: "We have an obligation to achieve success, and we will accomplish it."

© 2026 African Development Bank. All rights reserved. Published by AllAfrica Global Media (Ants).

Tagged: Economy, Business and Finance, Central Africa, Oceans and Rivers, International Organizations and Africa, Environment, External Relations

Supplied by SyndiGate Media Inc. ( Syndigate.info ).