**"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

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Unlocking Africa’s Agro-Minerals & Natural Gas for Fertilizer Investment Growth

What Workshop titled "Unlocking Africa's Agro-minerals and Natural Gas to Boost Investments in Fertilizer Supply Chains"

Who: African Centre for Natural Resource Management and Investment (ECNR) and African Fertilizer Finance Mechanism (AFFM)

When: July 4, 2026, at 9:00 AM – 10:30 AM UTC

Where: Join us available online through this Zoom link

The African Natural Resources Management and Investment Centre (ECNR), together with the African Fertiliser Financing Mechanism (AFFM), is organizing an online seminar entitled "Unlocking Africa's Agro-minerals and Natural Gas to Stimulate Investments in Fertilizer Supply Chains for Enhanced Resilience and Food Security."

The online seminar will address one critical issue: What steps can be taken to consistently transform Africa’s local agro-minerals and natural gas reserves into materials used for fertilizers, thereby decreasing the region's expensive reliance on imports and enhancing food safety?

Referencing the research " Analysis of the agro-mineral and natural gas supply chains to enhance food security in Africa The online seminar will highlight Africa's natural resources capabilities, examine major challenges within fertilizer supply chains, and investigate practical policies and funding options. Additionally, it will offer an interactive forum to evaluate and enhance the research findings by involving prominent figures from the business world, financial institutions, and government sectors.

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

Tagged: Africa, Economy, Business and Finance, Mining, Investment, Food and Agriculture

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SK Group Unveils AI Factory Plan in Japan

The SK Group intends to develop an advanced artificial intelligence-focused data center named 'AI Factory' in Japan. This represents the initial concrete plan of the SK Group to set up a cutting-edge AI data center abroad. The company aims to partner with NVIDIA to create top-tier AI systems within Japan, and at the same time, does not exclude Japan from being considered for further chip manufacturing plants.

During an interview with Nikkei in Tokyo on the 10th, SK Group CEO Chey Tae-won mentioned, "Our intention is to build an artificial intelligence-focused data center named 'AI Factory' in Japan, aiming for completion between 2028 and 2029."

The AI Factory denotes a data center specifically designed for artificial intelligence tasks, focusing on both model training and prediction using data. It leverages SK's high-bandwidth memory (HBM) along with NVIDIA's graphic processing units (GPUs) to deliver strong computing capabilities while reducing energy usage.

Earlier, SK had unveiled plans to establish the first AI factory in South Korea in 2027, aiming to scale up to the gigawatt (GW) level, and then broaden the operations across Asia. This interview indicated that Japan will serve as the initial international site.

As reported by Nikkei, the AI data center planned for construction in Japan will involve partnerships with domestic firms. Detailed talks are currently taking place with an aim to start functioning between 2028 and 2029.

Even though the exact investment amount remains undisclosed, the plant is anticipated to possess a power generation capability at the gigawatt level, comparable to the energy needs of a large urban center. SK is presently searching for potential locations that offer sufficient area and reliable electrical supply.

Chairman Chey stated that this data center will not merely assist Japanese businesses in boosting AI-driven efficiency but will also demonstrate SK's advanced chip technology.

In the meantime, Chairman Chey mentioned that the growth of the artificial intelligence sector is intensifying discrepancies between supply and demand for memory chips, referring to the chip scarcity as "a very critical issue."

He mentioned that SK is speeding up the increase in production capabilities. At present, the company is building the world's biggest semiconductor complex in Yongin, Gyeonggi Province, aiming to finish the facility several years earlier than initially planned.

Chairman Chey also mentioned that should more expansion be required later, the firm might explore establishing manufacturing facilities abroad. On Japan, he noted, "It boasts a dense cluster of semiconductor equipment and materials firms, with all essential supporting systems available," describing it as a "highly promising location."

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Tony Elumelu Named Chairman of Seplat Energy

Tony Elumelu has been chosen as the upcoming Chairman of Seplat Energy. He will take over from the present Chairman, Senator Udoma Udo Udoma, starting in January 2027, marking a fresh phase of leadership as the company advances along its path of expansion and evolution, according to a statement from the board.

The board has additionally named Engr. Effiong Okon as Chief Executive Officer starting from 1 August 2026. These board updates were revealed in an announcement submitted to the Nigerian Exchange Limited (NGX), which was signed by the company secretary, Edith Onwuchekwa, on Tuesday, complying with the exchange's regulatory standards.

Mr. Elumelu serves as the Founder and Chairperson of Heirs Holdings, a prominent pan-African investment company, which has stakes in key areas of the African economy such as energy, electricity, banking, insurance and financial services, technology, property and tourism, and medical care.

He is also the leading advocate and originator of Africapitalism, an economic ideology that promotes harnessing Africa's capabilities via sustained investments in critical areas that enhance living standards and reshape the continent.

Currently, Mr. Elumelu holds the position of Chairman at Transcorp Group, which is Nigeria's biggest publicly traded conglomerate. Its affiliated companies consist of Transcorp Power, a major generator and provider of electrical power in Western Africa, and Transcorp Hotels Plc, recognized as Nigeria's top hotel chain. Additionally, he leads the UBA Group, a wide-ranging African financial institution.

The newly appointed Chief Executive Officer, Engr. Effiong Okon, is a seasoned executive boasting more than 35 years of international industry experience, along with a strong history of achieving operational success and implementing effective strategies.

He has extensive knowledge of the organization, having joined the Company in 2018. He began his tenure on Seplat’s Board as Operations Director for four years, later transitioning to the role of New Energy Director, and more recently acting as Managing Director of ANOH Gas Processing Company ('AGPC'), where he effectively oversaw the project's implementation leading to the achievement of first gas in January 2026.

With Seplat moving into its next stage of expansion, Elumelu's extensive resources...

expertise in corporate governance, institutional development, and sustainable growth will provide significant insight as the company enhances its standing as a robust, internationally competitive energy entity.

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Heirs Insurance Surpasses 3 Million Customers with Assets Soaring to N136 Billion

An image showing a group photo of HIG Group's executive management, featuring Mr. Niyi Onifade, the Sector Head, positioned in the center, taken at a press event held in Lagos on Monday.

The Heirs Insurance Group (HIG) has become one of the quickest expanding entities in Nigeria's insurance sector, accumulating over three million policyholders in just five years since launching, highlighting rising popularity of insurance services among locals.

This significant achievement occurs alongside increased initiatives from service providers aimed at expanding insurance coverage in a region that continues to be significantly underserved, even with its large population and strong economic prospects.

At a press briefing organized in Lagos to mark the organization's five-year milestone, Niyi Onifade, the Managing Director and CEO/Division Head of Heirs Insurance Group, revealed that the firm has achieved substantial progress in critical metrics such as client recruitment, claim processing, asset expansion, and financial success.

He stated that the Group settled claims surpassing N21 billion in 2025, with overall assets reaching N136 billion. The profit for the fiscal year amounted to N7.5 billion, indicating the company's growing presence in both life and general insurance areas.

Market experts consider swift claim settlements essential for rebuilding trust within Nigeria's insurance industry, where worries about late or unprocessed payments have traditionally led to limited customer interest.

Onifade stated that the Group's development path has been fueled by swift market growth, robust digital systems, client-centered products, and an intentional approach designed to change views about insurance within the nation.

He pointed out that the company has always focused on timely claim payments as a way to address the lack of confidence present in the insurance industry, emphasizing that settling claims continues to be key to its approach towards customer value.

In addition to financial success, the Group remains committed to making significant investments in technology and digital advancements as part of initiatives aimed at increasing access to finance and enhancing user satisfaction. This approach led the company to be acknowledged by Nairametrics as among the leading three digital pioneers within Nigeria's insurance sector.

The organization has lately reinforced its tech-focused strategy through the introduction of Prince AI, an internal artificial intelligence assistant created to improve client interaction and support services.

In the future, Onifade mentioned that the Group plans to utilize its present momentum to establish a lasting insurance brand able to maintain growth over time while promoting wider industry expansion.

He stated that preparations are being made to extend activities outside Nigeria into additional African regions, enabling the Group to capitalize on new prospects throughout the continent's insurance sector.

"Every action we take considers its effect on the customer's life. Having safeguarded more than three million lives, we aren’t focused solely on today. We’ve established a structure aimed at maintaining this leadership, promoting broader market adoption, and setting the standard for insurance quality over the next half-century," he stated.

The firm's expansion capabilities have drawn global attention. In recent times, the Financial Times listed Heirs Life Assurance as the seventh top-growing business in Africa, with Heirs General Insurance securing the 41st position among the continent's leading fast-expanding companies from every sector.

The presentation emphasizes the growing impact of technological advancements, consumer-focused creativity, and effective claim handling in fostering expansion inside Nigeria's developing insurance sector.

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