Africa Local News and Intelligence

Aug 1, 2026BusinessRead at SABC News

Small loans driving consumers into financial distress: Association

The association says that the rising cost of living is worsening household finances.

Nigeria's first climate-smart school makes history as top 10 for World's Best School Prize in Environmental Action

History has been made as the Slum2School Green Academy, located in Saga Island, Epe, Lagos State, becomes the first school Nigeria's first climate-smart school makes history as top 10 for World's Best School Prize in...

Aug 1, 2026BusinessRead at Premium Times Business

VFD Group posts twofold jump in half-year profit amid higher investment income

Revenue advanced to N53.7 billion from N41.2 billion a year ago, deriving strength largely from investment income, which was up by 102.8 per cent.

Building homes or building an economy? Why nigeria's housing strategy will determine the path to a us$1 trillion economy

Nigeria needs approximately 20 million additional homes. Most discussions focus on how quickly those homes can be built....

Three killed, four injured in head-on collision at Ndwedwe, KZN

Emergency services were called out to the scene of the crash at around 5o clock on Saturday.

Nenadi Usman, LP National Chairman, felicitates with Jang at 80, urges Nigerians to rise above bitter politics

Senator Nenadi Usman, the National Chairman of the Labour Party, has called on political leaders across the country to embrace Nenadi Usman, LP National Chairman, felicitates with Jang at 80, urges Nigerians to rise...

Aradel's half-year profit grows far less than revenue as galloping costs bite

The sharp pace of turnover growth could not be matched by after-tax profit, which climbed to ₦191 billion from ₦146.4 billion, as rising costs ate away at revenue.

Top 10 most expensive hotels in Africa 2026

Africa's luxury hospitality industry continues to push the boundaries of exclusivity, with a growing number of hotels and safari lodges...

Four shot and killed on the Cape Flats in past 24-hours

Late on Friday evening a man was shot and killed in Wallacedene.

Kogi police commence full investigation into death of a clergy

Kogi state police command has disclosed that it has embarked on comprehensive investigation into the death of Samuel Opeyemi, a Kogi police commence full investigation into death of a clergy

NNPC posts ₦535 billion profit, records 1.72 million barrels daily oil output in June

NNPC recorded ₦535 billion profit after tax and produced 1.72 million barrels of crude oil and condensate daily in June 2026, its latest monthly report has shown.

FirstBank: Economic stability alone won't improve Nigerians' living standards

FirstBank of Nigeria Limited has said Nigeria's economy has entered a new phase where the priority is no longer restoring macroeconomic...

SABC has amplified South African voices for 90 Years: Sangoni-Diko

Friday marked the 90th anniversary of the establishment of the SABC

Why Nigeria's births should not worry Elon Musk

Elon Musk's comparison between Nigerian and European births points to a world in which the centres of population, labour and Why Nigeria's births should not worry Elon Musk

FG says no plan to increase electricity tariffs

Mr Tegbe added that the government would strengthen critical transmission infrastructure, improve grid stability and address long-standing liquidity challenges in the electricity market.

Africa's exports jump 14%, trail only Asia in global trade growth

Africa's merchandise exports increased by 14% year-on-year in the first quarter of 2026, recording the second-highest regional growth after Asia, according to the World Trade Organization (WTO).

Empowered Women, Empower Nations: Chikunga launches Women's Month

The launch marks 70 years since the historic 1956 Women's March

Reporter's diary: Lessons from my first trip to Germany

Travelling through Germany proved to be remarkably eventful. Although I had flown with the airline before, it had never occurred Reporter's diary: Lessons from my first trip to Germany

First HoldCo to pay 60% of annual profit as dividends

First HoldCo said the move highlights its directors' confidence in its earnings capacity, enhanced capital position, improving asset quality, diversified revenue streams, and robust outlook for sustained...

Spider-Man: Brand New Day sets N120.4 million preview record in Nigeria

Marvel Studios and Sony Pictures' Spider-Man: Brand New Day has set a new record for the biggest preview opening in Nigerian box office...

Western Cape's new police chief steps in amid violence crisis

His appointment comes as many communities across townships are faced with gang violence

Seplat sells 10% JV stake to NNPC for $281.6m (₦384.38 billion)

The company disclosed this in a corporate filing with the Nigerian Exchange on Thursday.

Nigeria's AI boom depends on one thing government hasn't fixed

A new IMF departmental paper puts numbers on a question Nigerian policymakers have largely addressed in broad terms - what AI could actually be worth to the economy and why its current payoff is so limited. Titled...

SABC marks 90th anniversary with Orlando Children's Home in Soweto

The first stop is Orlando Children's Home in Soweto.

Jul 30, 2026SecurityRead brief

Asaba jet crew remains in SSS custody over security breach - Keyamo

The aviation minister said investigators are still questioning the foreign crew after the aircraft landed on a road instead of the runway at Asaba Airport in June.

South Africa plans new $30 travel permit fee for visitors

South Africa is proposing a new ZAR 500 ($30) processing fee for travellers applying for its Electronic Travel Authorisation (ETA), as the country continues expanding its digital border management system.

Aug 1, 2026LocalRead brief

Two children die in Durbanville fire

Twigg says the circumstances surrounding the incident are under investigation.

State electricity markets risk losing investors without harmonised regulations - FCCPC

The consumer protection commission says inconsistent regulations across Nigeria's emerging state electricity markets could weaken investor confidence and undermine consumer protection.

Nigeria's N70,000 minimum wage and the cost-of-living reality

When the Minister of Finance and Coordinating Minister of the Economy explained that savings from the removal of fuel and foreign exchange...

Police seize R28 million worth of drugs at OR Tambo International

A consignment of close to 100 kilograms of cocaine was uncovered on a plane from Brazil.

How Nigeria spent savings from forex, petrol subsidy removal - Oyedele

The minister explained that although the reforms generated fiscal savings, the government immediately faced higher financial obligations arising from the reforms themselves, including debt servicing costs and...

MTN nears 100 million subscriptions as Nigeria's mobile database hits 189.4 million

The largest network operator in Nigeria, MTN is now close to the 100 million active subscriptions mark as its database hit 96.9 million in May

Aug 1, 2026LocalRead brief

Fatal bus crash at Reitz-Tweeling Crossing leaves four dead

The crash is one of three separate bus-related incidents reported in the province on Saturday

MeCure Plc ends co-CEO leadership structure, appoints new CEO, executive director

The company said the appointments will further strengthen MeCure's competitive position, accelerate sustainable growth and enhance long-term shareholder value.

Aradel posts N753 billion pre-tax profit as oil boom drives record revenue

Aradel Holdings Plc has released its unaudited H1 financial statement, reporting a pre-tax profit of N752.71 billion for the six months ended.

Limpopo Health dept urges men to speak out against GBV

The dept says men should be active participants in ending GBVF.

Nigeria's $1tn economy by 2030 not slogan but target - Oyedele

He said Nigeria had completed the difficult phase of stabilising the economy and was now focused on translating that stability into investment, higher productivity and improved living standards.

IMF says governments are squeezing savers as debt piles up

Financial repression has risen to its highest levels in decades as governments with elevated debt increasingly face constraints in using...

Free State CoGTA hails clean audit outcome

The department says it is committed to maintaining the standard of achieving clean audits.

Seplat posts 430% surge in half-year profit, declares special dividends

Shares in the corporation had gained 0.6 per cent as of 12:46 WAT in Lagos, where they have primary listing after the results were issued on Thursday.

Cardinal Torch pivots to agro-processing after N10 billion fundraising

Indigenous commodity trader Cardinal Torch Company Limited has announced plans to transition into a full-fledged agro-processing in a strategic shift to capture higher margins along Nigeria's agricultural value chain.

LIVE: Ramaphosa launches Seriti Green wind farm commercial operations

Ramaphosa officiates the launch of commercial operations at the Ummbila Emoyeni Wind Energy Facility

How Nigeria secured Paris Club debt relief - Okonjo-Iweala

According to the WTO Director-General, strategic public communication was instrumental in helping Nigeria secure the landmark 2005 Paris Club debt relief during the Obasanjo administration.

CBN mops up N7.2 trillion in July, but quietly changes its playbook

The Central Bank of Nigeria (CBN) sterilized N7.18 trillion from the financial system in July through Open Market Operations (OMO) auctions, a 48.57% decline from the N13.96 trillion mopped up conducted in June.

Mohai not correct choice for PIC board chairperson position: DA

Several Public Investment Corporation (PIC) board members resigned last week.

Otedola acquires 1.78 billion First HoldCo shares, lifts stake to 26%

The new share purchase represents 3.91 per cent of the company's outstanding shares.

Nigerian stocks set for profit-taking in August, Dangote Refinery in spotlight

Nigeria's stocks enter August with the NGX All-Share Index (ASI) hovering around 247,000 index points, approaching record highs.

Finance Committee welcomes new PIC board chair

The finance commitee has welcomed the appointment of Seiso Mohai as PIC board chair.

Dangote Cement's half-year profit climbs 23% to ₦639 billion on sales growth

Turnover leapt to ₦2.5 trillion from ₦2.1 trillion, aided by a rise of 10 per cent in production volume.

Berger Paints profit jumps 27% despite rising operating costs

Berger Paints Nigeria Plc has released its H1 financial statement, reporting a pre-tax profit of N1.20 billion for the six months ended June 30, 2026.

Ghana's cocoa production is expected to fall 16% next season

West Africa's cocoa outlook has previously been revised lower.

Gavi commits $500 million to vaccinate Nigeria's next generation

Gavi, the Vaccine Alliance, has committed more than $500 million to support Nigeria's immunisation programme over the next five years.

Kganyago says SARB remains firmly committed to driving inflation down

Governor Lesetja Kganyago says the central bank remains firmly committed to driving inflation down.

Nigerian equities market adds N11.11 trillion in July as banking stocks power recovery

The Nigerian equities market delivered a strong performance in July 2026, adding approximately N11.11 trillion to investors' wealth as sustained buying interest in banking and other fundamentally strong stocks...

Apple shares tumble over supply chain snarls

That slowdown could deepen if iPhone sales take a hit from a price increase.

The trillion-dollar map: How to win in Nigeria's unseen economy

Nigeria is worth about USD 291 billion and about USD 2.3 trillion at the same time. Both are World Bank figures for 2025. The first converts the economy into dollars at the exchange rate. The second measures it by...

Use of AI by SARS does impact on taxpayers' rights: Institute

SA Institute of Taxation says the use of AI by SARS does have an impact on tax's rights.

International Breweries' H1 2026 pre-tax profit rises 22% on margin recovery.

International Breweries Plc has released its unaudited H1 2026 results reporting recorded a pre-tax profit of N74.79 billion for the six months ended June 2026.

Adidas shares plunge record 19% as World Cup bump falls short

Quarterly revenue grew by a currency-adjusted 14% to €6.74 billion ($7.7 billion).

Business and Economy

Aug 1, 2026BusinessRead at SABC News

Small loans driving consumers into financial distress: Association

The association says that the rising cost of living is worsening household finances.

Nigeria's first climate-smart school makes history as top 10 for World's Best School Prize in Environmental Action

Aug 1, 2026BusinessRead at Premium Times Business

VFD Group posts twofold jump in half-year profit amid higher investment income

Revenue advanced to N53.7 billion from N41.2 billion a year ago, deriving strength largely from investment income, which was up by 102.8 per cent.

Building homes or building an economy? Why nigeria's housing strategy will determine the path to a us$1 trillion economy

Nigeria needs approximately 20 million additional homes. Most discussions focus on how quickly those homes can be built....

Nenadi Usman, LP National Chairman, felicitates with Jang at 80, urges Nigerians to rise above bitter politics

Aradel's half-year profit grows far less than revenue as galloping costs bite

The sharp pace of turnover growth could not be matched by after-tax profit, which climbed to ₦191 billion from ₦146.4 billion, as rising costs ate away at revenue.

Top 10 most expensive hotels in Africa 2026

Africa's luxury hospitality industry continues to push the boundaries of exclusivity, with a growing number of hotels and safari lodges...

Kogi police commence full investigation into death of a clergy

Kogi state police command has disclosed that it has embarked on comprehensive investigation into the death of Samuel Opeyemi, a Kogi police commence full investigation into death of a clergy

NNPC posts ₦535 billion profit, records 1.72 million barrels daily oil output in June

NNPC recorded ₦535 billion profit after tax and produced 1.72 million barrels of crude oil and condensate daily in June 2026, its latest monthly report has shown.

FirstBank: Economic stability alone won't improve Nigerians' living standards

FirstBank of Nigeria Limited has said Nigeria's economy has entered a new phase where the priority is no longer restoring macroeconomic...

Why Nigeria's births should not worry Elon Musk

Elon Musk's comparison between Nigerian and European births points to a world in which the centres of population, labour and Why Nigeria's births should not worry Elon Musk

FG says no plan to increase electricity tariffs

Mr Tegbe added that the government would strengthen critical transmission infrastructure, improve grid stability and address long-standing liquidity challenges in the electricity market.

Africa's exports jump 14%, trail only Asia in global trade growth

Africa's merchandise exports increased by 14% year-on-year in the first quarter of 2026, recording the second-highest regional growth after Asia, according to the World Trade Organization (WTO).

Reporter's diary: Lessons from my first trip to Germany

Travelling through Germany proved to be remarkably eventful. Although I had flown with the airline before, it had never occurred Reporter's diary: Lessons from my first trip to Germany

First HoldCo to pay 60% of annual profit as dividends

Spider-Man: Brand New Day sets N120.4 million preview record in Nigeria

Marvel Studios and Sony Pictures' Spider-Man: Brand New Day has set a new record for the biggest preview opening in Nigerian box office...

Seplat sells 10% JV stake to NNPC for $281.6m (₦384.38 billion)

The company disclosed this in a corporate filing with the Nigerian Exchange on Thursday.

Nigeria's AI boom depends on one thing government hasn't fixed

Jul 30, 2026SecurityRead brief

Asaba jet crew remains in SSS custody over security breach - Keyamo

The aviation minister said investigators are still questioning the foreign crew after the aircraft landed on a road instead of the runway at Asaba Airport in June.

South Africa plans new $30 travel permit fee for visitors

State electricity markets risk losing investors without harmonised regulations - FCCPC

The consumer protection commission says inconsistent regulations across Nigeria's emerging state electricity markets could weaken investor confidence and undermine consumer protection.

Nigeria's N70,000 minimum wage and the cost-of-living reality

When the Minister of Finance and Coordinating Minister of the Economy explained that savings from the removal of fuel and foreign exchange...

How Nigeria spent savings from forex, petrol subsidy removal - Oyedele

MTN nears 100 million subscriptions as Nigeria's mobile database hits 189.4 million

The largest network operator in Nigeria, MTN is now close to the 100 million active subscriptions mark as its database hit 96.9 million in May

MeCure Plc ends co-CEO leadership structure, appoints new CEO, executive director

The company said the appointments will further strengthen MeCure's competitive position, accelerate sustainable growth and enhance long-term shareholder value.

Aradel posts N753 billion pre-tax profit as oil boom drives record revenue

Aradel Holdings Plc has released its unaudited H1 financial statement, reporting a pre-tax profit of N752.71 billion for the six months ended.

Nigeria's $1tn economy by 2030 not slogan but target - Oyedele

He said Nigeria had completed the difficult phase of stabilising the economy and was now focused on translating that stability into investment, higher productivity and improved living standards.

IMF says governments are squeezing savers as debt piles up

Financial repression has risen to its highest levels in decades as governments with elevated debt increasingly face constraints in using...

Free State CoGTA hails clean audit outcome

The department says it is committed to maintaining the standard of achieving clean audits.

Seplat posts 430% surge in half-year profit, declares special dividends

Shares in the corporation had gained 0.6 per cent as of 12:46 WAT in Lagos, where they have primary listing after the results were issued on Thursday.

Cardinal Torch pivots to agro-processing after N10 billion fundraising

LIVE: Ramaphosa launches Seriti Green wind farm commercial operations

Ramaphosa officiates the launch of commercial operations at the Ummbila Emoyeni Wind Energy Facility

How Nigeria secured Paris Club debt relief - Okonjo-Iweala

According to the WTO Director-General, strategic public communication was instrumental in helping Nigeria secure the landmark 2005 Paris Club debt relief during the Obasanjo administration.

CBN mops up N7.2 trillion in July, but quietly changes its playbook

Mohai not correct choice for PIC board chairperson position: DA

Several Public Investment Corporation (PIC) board members resigned last week.

Otedola acquires 1.78 billion First HoldCo shares, lifts stake to 26%

The new share purchase represents 3.91 per cent of the company's outstanding shares.

Nigerian stocks set for profit-taking in August, Dangote Refinery in spotlight

Nigeria's stocks enter August with the NGX All-Share Index (ASI) hovering around 247,000 index points, approaching record highs.

Finance Committee welcomes new PIC board chair

The finance commitee has welcomed the appointment of Seiso Mohai as PIC board chair.

Dangote Cement's half-year profit climbs 23% to ₦639 billion on sales growth

Turnover leapt to ₦2.5 trillion from ₦2.1 trillion, aided by a rise of 10 per cent in production volume.

Berger Paints profit jumps 27% despite rising operating costs

Berger Paints Nigeria Plc has released its H1 financial statement, reporting a pre-tax profit of N1.20 billion for the six months ended June 30, 2026.

Ghana's cocoa production is expected to fall 16% next season

West Africa's cocoa outlook has previously been revised lower.

Gavi commits $500 million to vaccinate Nigeria's next generation

Gavi, the Vaccine Alliance, has committed more than $500 million to support Nigeria's immunisation programme over the next five years.

Kganyago says SARB remains firmly committed to driving inflation down

Governor Lesetja Kganyago says the central bank remains firmly committed to driving inflation down.

Nigerian equities market adds N11.11 trillion in July as banking stocks power recovery

Apple shares tumble over supply chain snarls

That slowdown could deepen if iPhone sales take a hit from a price increase.

The trillion-dollar map: How to win in Nigeria's unseen economy

Use of AI by SARS does impact on taxpayers' rights: Institute

SA Institute of Taxation says the use of AI by SARS does have an impact on tax's rights.

International Breweries' H1 2026 pre-tax profit rises 22% on margin recovery.

International Breweries Plc has released its unaudited H1 2026 results reporting recorded a pre-tax profit of N74.79 billion for the six months ended June 2026.

Adidas shares plunge record 19% as World Cup bump falls short

Quarterly revenue grew by a currency-adjusted 14% to €6.74 billion ($7.7 billion).

Public Interest and Security

Jul 30, 2026SecurityRead brief

Asaba jet crew remains in SSS custody over security breach - Keyamo

The aviation minister said investigators are still questioning the foreign crew after the aircraft landed on a road instead of the runway at Asaba Airport in June.

Nigeria's $1tn economy by 2030 not slogan but target - Oyedele

He said Nigeria had completed the difficult phase of stabilising the economy and was now focused on translating that stability into investment, higher productivity and improved living standards.