The Federal Government of Nigeria has announced a proposal for a pan-African payment card aimed at facilitating direct transactions between African currencies. This initiative seeks to reduce reliance on foreign currencies like the U.S. dollar, thereby lowering transaction costs and enhancing intra-African trade.

The Rural Electrification Agency (REA), in collaboration with the European Union and the German Government, inaugurated a 504kW interconnected mini-grid in Epe on Wednesday. This development comes after years of power outages in the community due to equipment vandalism, marking a significant step towards restoring electricity access for residents.

The Nigerian naira has depreciated by at least N9 against the United States dollar at the Central Bank of Nigeria's official foreign exchange window, according to Tribune Online.

The Manufacturers Association of Nigeria (MAN) has criticized the average prime lending rates of 27 percent and maximum lending rates of 36.5 percent charged by major commercial banks as of May 2026, labeling them as exploitatively high for the manufacturing sector.

In Dar es Salaam, many women entrepreneurs face significant challenges in accessing capital, which is crucial for the survival and growth of their small businesses. This issue affects various individuals, including those looking to expand their operations, such as a Mama Ntilie needing a larger cooking stove or a market vendor wanting to increase her stock, according to Daily News.

Volkswagen has reached an agreement to sell its diesel engine unit, Everllence, to Bain Capital for approximately €7.4 billion (R139.30 billion). This deal surpassed offers from other private equity firms, including one that collaborated with Volkswagen's major shareholders, according to TimesLIVE.

The South African Motor Body Repairers’ Association (SAMBRA) has called on insurers to implement consistent relief measures related to fuel costs, citing that the ongoing volatility in fuel prices is creating significant financial strain on motor body repairers.

Esther Kelvin, known as Essy Fashion, began her entrepreneurial journey while still in secondary school, inspired by a simple observation. Now a wife, mother, and CEO of her fashion brand, she exemplifies how a small idea can evolve into a successful business venture. Her story highlights the transformative potential of entrepreneurship.

OPay is playing a significant role in Nigeria's digital payment revolution by enhancing financial inclusion, facilitating commerce, and contributing to the development of the country's digital economy, according to Legit.ng.

Ajua announced that it had acquired WayaWaya, but five years later, WayaWaya's founder claims that the acquisition never took place and that they are still working to reverse the situation.

Yolande Buckley turned her passion for food into a successful business, Simply Deli, after seizing a significant opportunity. The brand, which is proudly South African, has expanded its reach by becoming available in SPAR stores.

The Geely Galaxy Cruiser, equipped with a tri-motor plug-in hybrid powertrain, has been unveiled as a competitor to the Tank 300 and Jetour T2. It is set to make its official world debut later this year, according to The Citizen.

Nigeria is advocating for a cross-border payment system that eliminates the need for third-party currencies, according to Techpoint Africa. The discussion includes the recent approval of Yellow Card in Switzerland and Daya's successful fundraising of $2.4 million aimed at developing stablecoin payment infrastructure.

For decades, poor road quality in Tanzania hindered access to markets for farmers, healthcare for patients, and increased transport costs for businesses. However, recent improvements in road infrastructure are transforming this situation, facilitating better connectivity and economic activity across the country, according to Daily News.

Kenya Airways is facing a federal lawsuit in New York from an aviation parts distributor over Sh129 million in unpaid debts. This lawsuit highlights the airline's financial struggles, which include Sh206.8 billion in accumulated losses and Sh131.4 billion in government debt that it cannot service. The situation has led to a lack of suppliers willing to continue business with the airline, which is also dealing with operational uncertainties flagged by its auditors.

eTranzact International Plc has enhanced financial inclusion in Ogun State by onboarding over 1,000 agents and deploying thousands of PocketMoni terminals, according to ThisDay Live.

A new fertiliser plant by TFC in Dar es Salaam aims to address the challenges faced by Tanzanian farmers, including declining soil fertility and rising fertiliser costs. Experts have noted that using the appropriate type of fertiliser is crucial for enhancing productivity and managing production expenses. This development is seen as a potential boost for the agricultural sector in Tanzania.

Equity has approved the establishment of new insurance units as part of its expansion plans in Kenya and the Democratic Republic of Congo (DRC). In Kenya, the company will create a microinsurance firm with a capital base of Sh192 million. In the DRC, Equity plans to launch a life insurance company with an initial capital of $12 million and a general insurance company with a capital of $13.37 million.

According to Daily News, global investors are increasingly choosing Tanzania as a strategic investment destination due to its political stability, access to regional markets, abundant resources, reliable infrastructure, and a supportive government. These factors are seen as more significant than just tax incentives, making Tanzania an attractive option for international manufacturing companies.

According to Vanguard, technology has significantly transformed financial transactions in Nigeria, allowing individuals to conduct activities such as sending money, paying bills, and purchasing airtime via mobile phones without needing to visit a bank. This shift towards digital financial services is exemplified by OPay, which is playing an increasing role in facilitating access to these services as the economy becomes more digital.