The signing covered a grant contract for the “Project for the Development of Supporting Environment for Startups Addressing Social Challenges.” Under the arrangement, JICA will provide $14 million in grant support, while NSIA will contribute up to $20 million as matching funds as part of the wider $50 million initiative.

NSIA said the fund will operate as an onshore public vehicle and will combine financing with technical assistance, helping startups refine products, scale operations and expand into new markets.

NSIA Managing Director and Chief Executive Officer Aminu Umar-Sadiq said the initiative is designed to strengthen early-stage ventures working in high-impact areas.

“The Fund represents a transformative step for Nigeria ’s startup ecosystem,” he said. “By providing early-stage ventures in high-impact sectors with the capital and support they need to grow, we are enabling innovators to tackle some of Nigeria’s most pressing challenges.”

Japan’s Ambassador to Nigeria, Suzuki Hideo, said Japan sees the project as part of a broader cooperation package aligned with its foreign policy priorities.

“This initiative aims to achieve development goals by the ‘co-creation’ of social value through dialogue and collaboration with Japan’s partner countries, while mobilising private finance in combination with ODA,” he said.

Suzuki added that the project is Japan’s first implementation of this development model globally, involving a fund that incorporates private capital, and said interest in Tokyo is high.

Uber launched in Tanzania in June 2016, starting in Dar es Salaam as part of its broader expansion across Africa. The app quickly gained popularity for introducing digital ride-hailing, competitive pricing and cashless payment options.

But Uber’s experience in Tanzania has been marked by regulatory and market challenges.

In April 2022, the company suspended operations after the government introduced new rules, including caps on fares and limits on commissions charged to drivers. Uber said at the time that the regulations created an environment that was difficult for its business model.

“Current regulations… have been a challenge to our business ,” the company told users, adding that it hoped to reach an agreement with authorities.

Uber resumed services in early 2023 after adjusting its operations, but it continued to face pressure from ongoing regulation and growing competition from local and regional ride-hailing platforms.

The company’s full exit in 2026 highlights the difficulties international tech firms can face in markets with tight transport controls and rapidly evolving competition.

The company still operates in about 80 countries worldwide, including 11 in Africa.

The measures are contained in Statutory Instrument 215 of 2025, formally titled the Indigenisation and Economic Empowerment (Foreign Participation in Reserved Sectors) Regulations, 2025. They establish a phased but accelerated localisation regime, compelling affected firms to divest at least 25% of their equity each year, beginning immediately.

From the date of gazetting, foreign-owned companies operating in the reserved sectors have 30 days to submit regularisation plans, setting out how they will comply with the new ownership requirements.

At the heart of the regulations is Zimbabwe’s attempt to reserve select industries for its citizens — most of which have long been dominated by small and medium-sized enterprises, but which have increasingly been taken over by foreign operators in recent years.

The sectors now fully reserved for indigenous citizens include:

Passenger transport services such as taxis and commuter buses, along with estate agencies, clearing and customs services, are also effectively restricted, though with limited exceptions.

In three sectors, foreign participation is permitted only where the business operates under a recognised international brand or franchise. These include passenger transport, estate agencies, and clearing and customs services.

For other sectors, foreign investors are not banned outright but face steep entry barriers designed to restrict participation to large-scale operations. Regulations set explicit minimum investment and employment thresholds :

Penalties

Existing foreign-owned businesses operating in reserved sectors are given three years to comply with the localisation timetable.

The regulations explicitly criminalise attempts to circumvent the law, including the use of fronting arrangements or nominee shareholders. Authorities are empowered to suspend or cancel operating licences for companies that fail to regularise their ownership structures within the stipulated period.

State media reports say enforcement will be strict, particularly in sectors such as artisanal mining, where the government has for years struggled to curb illegal operations and foreign syndicates, many of them involving Chinese nationals extracting gold, chrome and lithium.

Unaffected sectors

The government has been keen to stress that the regulations do not apply across the entire economy. Strategic and capital-intensive sectors — including banking, large-scale mining and other major industries — remain open to foreign ownership under existing laws.

Officials argue that the policy is a corrective measure rather than a reversal of Zimbabwe’s broader investment strategy, aimed at protecting informal and small-scale sectors from foreign encroachment.

While authorities frame the regulations as a long-overdue empowerment drive designed to restore economic agency to ordinary Zimbabweans, analysts warn that the abrupt scope and scale of the changes could unsettle investors and disrupt supply chains.

Forced divestments, tight deadlines and criminal penalties risk deepening perceptions of policy unpredictability in a country already grappling with capital shortages and fragile investor confidence.

Still, the message from Harare is unequivocal: in much of Zimbabwe’s day-to-day economy, local ownership is no longer optional — it is now mandatory.

 The deal marks a revival of earlier efforts as Dangote had visited Zimbabwe in 2015 and explored similar plans in 2018, but those did not advance.

He said the investment package will span a cement plant, a coal mine (or coal supply arrangement), power-generation capacity and a petroleum product pipeline that aligns with Dangote Group’s broader plans for its oil-refining and downstream business.

"We have just signed an agreement between Zimbabwe and the Dangote Group to do various investments in various sectors, some of which are, of course, cement, power generation and a pipeline to bring petroleum products," Dangote said.

Why Zimbabwe now

Dangote commented that the current environment in Zimbabwe shows improved governance , transparency and policy stability compared with his visit a decade ago and cites those as reasons for proceeding now.

From the Zimbabwean side, government officials affirmed that attracting high-impact foreign direct investment is strategic to achieving the nation’s industrialisation goals. The deal aligns with the government’s “Vision 2030” ambition to become a modern, upper‐middle-income industrial economy .

Additionally, the project could generate thousands of jobs, both directly (in the cement plant, mine and power station) and indirectly (in logistics, services and local supply chains). It also helps Zimbabwe reduce its reliance on imports of cement, energy, and potentially petroleum products, thereby breaking supply bottlenecks.

For Zimbabwe, which has, over recent years, suffered from electricity shortages, high industrial import dependence and weak external investment flows, the Dangote commitment represents one of the largest privately-led foreign investment pledges in over a decade.

Here are some factors behind the slump

With global expansion accelerating and high-end models on the horizon, BYD’s next growth phase is expected to depend on whether it can stabilise margins and outpace China’s fierce EV rivalry.

Egypt’s anti-drug body has initiated a nationwide campaign titled “Drugs won’t just ruin you alone” to raise awareness among drivers about the dangers of drug abuse, particularly in public transport hubs. This effort, reported by the Fund for Drug Control and Treatment of Addiction in collaboration with the Egyptian Red Crescent, coincides with heightened roadside drug testing for drivers. Aimed at correcting misconceptions about drug use, the campaign provides information about addiction treatment services via a hotline, with 620 calls for help noted.

Archaeological discovery of 5,500-year-old 'polish pyramids'

An archaeological breakthrough has unveiled a set of triangular burial mounds, referred to as the 'Polish pyramids', near Wyskoć in central Poland, some 3,000 miles from Egypt. These structures, believed to be 5,500 years old, were uncovered by researchers from Adam Mickiewicz University during a routine survey. According to Artur Golis, these mounds, associated with the Funnelbeaker culture, feature significant architectural elements and may hold artifacts tied to ancient burial practices.

Turkey's Bony Socks invests $100 million in Egyptian manufacturing facility

Turkish apparel manufacturer Bony Socks has committed $100 million to establish a manufacturing facility in 10th of Ramadan City, Egypt, as reported by Türkiye Today. The investment, facilitated by the Egyptian Commercial Office in Istanbul, aims to create 2,500 jobs and transform Egypt into a vital production hub for both African and European markets. This move aligns with Egypt’s strategy to attract foreign investments in high-potential sectors like textiles, contributing to significant bilateral trade growth.

Belgium returns ancient sarcophagus to Egypt after a decade

Belgian authorities have returned a 3,000-year-old wooden sarcophagus , dating back to the Ptolemaic period, to Egypt after nearly ten years in custody. This return was reported following a formal ceremony in Brussels where the sarcophagus and a ceremonial beard were presented to Egypt's ambassador, H.E. Ahmed Abu Zeid. The sarcophagus, adorned with hieroglyphic inscriptions and skilled craftsmanship, represents a significant effort by Egypt to reclaim its cultural heritage from abroad.

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Under Egypt’s investment law, foreign companies can already own 100% of businesses in most sectors. The new measure means Chinese firms will be able to open bank accounts in Egyptian banks denominated in yuan, a development experts believe will streamline operations and encourage more Chinese investment, the People's Daily Online reports.

“Licensing Chinese companies to use yuan in Egypt means these firms can open bank accounts with the Chinese currency. The move will encourage more Chinese companies to pump investments in Egypt, which will further expand bilateral economic relations by facilitating trade in local currencies ,” said Waleed Gaballah, a member of the Egyptian Association for Political Economy, Statistics and Legislation.

Gaballah explained that Chinese businesses previously needed to convert yuan into U.S. dollars to operate in Egypt, adding costs and complexity. “Now the Chinese companies don’t have to use mediating currency,” he said. “They can use yuan directly within Egypt and transfer their profits back to China in the same currency.”

He noted that the yuan has “succeeded in making a large international presence in payments in recent years,” and that wider use of the Chinese currency will help reduce Egypt’s reliance on the dollar. Gaballah also expressed hope that more Chinese investment and local production could help narrow Egypt’s trade deficit with China.

FIS Director Muluken Amare confirmed that while crypto trading remains illegal, preparations are underway to build the technical and legal capacity to respond to potential violations.

Ethiopia is currently investing in technology and human resources to detect and monitor virtual transactions.

Officials stress that even in the absence of full legalisation, there is a need for a regulatory framework to deter misuse and prevent cryptocurrencies from being exploited for crimes such as money laundering and terrorism financing.

Other countries are also making strides in the regulation of crypto transactions. All over the world, countries including the United States and the United Kingdom are putting in place measures to ensure that crypto trading is regulated.

Within the global south, these other countries are also in the race to ensure regularised crypto transactions.  While their strategies differ, the trend is clear: crypto is no longer on the sidelines, and governments are racing to shape its future within their borders.

China

China has taken one of the toughest positions globally on cryptocurrencies.

The country banned Bitcoin mining in 2021, prompting the closure or relocation of mining operations. Later that year, it declared all cryptocurrency transactions illegal, effectively outlawing crypto trading and related businesses.

The People’s Bank of China stated that crypto enterprises had been facilitating unregulated public financing, leading to risks for investors and threats to financial stability.

Despite the ban, China continues to explore blockchain technology and has advanced its central bank digital currency (CBDC), the digital yuan, as a government-backed alternative to decentralised cryptocurrencies.

Singapore

Singapore has taken a more structured approach by recognising cryptocurrencies as property, though not legal tender.

The Monetary Authority of Singapore (MAS) regulates exchanges under the Payment Services Act and has issued multiple guidelines to limit public advertising by digital payment token providers.

In 2023, MAS launched a framework for stablecoins, requiring issuers to meet strict conditions to be recognised as “MAS-regulated.”

While the country does not tax long-term capital gains on crypto, it does tax companies that actively trade in digital assets.

This regulatory clarity, combined with low taxes and investor protections, has positioned Singapore as a hub for crypto innovation and governance in the region.

India

India remains undecided on whether to fully legalise or ban cryptocurrency.

While a bill to prohibit private cryptocurrencies has been circulated, it is yet to be passed into law. Instead, India has implemented one of the highest crypto tax rates globally, imposing a 30% tax on gains and a 1% tax deducted at source on all trades.

In its 2022 Finance Bill, the Indian government defined virtual digital assets as property and introduced tax reporting obligations, signalling a step toward formal regulation even without full legal clarity.

Despite mixed signals, India continues to participate in global crypto conversations and has supported calls for international regulation.

Brazil

Brazil has passed a legal framework that formally recognises cryptocurrencies as valid forms of payment.

Although Bitcoin is not considered legal tender, the government enacted Law No. 14,478 in 2023 , which sets out rules for virtual asset service providers.

Under the law, the Central Bank of Brazil was designated as the authority to regulate and supervise crypto activities. Brazil’s approach is aimed at promoting adoption while ensuring financial security and transparency. With regulatory infrastructure now in place, the country has taken a leading role in Latin America’s push for responsible crypto integration into the mainstream economy.

“The Emirates Group has raised the bar to set new records for profit, revenue, and cash assets,” said  Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group.

Over the past year, the company invested $3.8 billion in new aircraft, infrastructure, and technology to support its global expansion strategy. The Group’s workforce grew by 9%, reaching a record 121,223 employees, and a dividend of $1.6 billion was declared to its sole shareholder, the Investment Corporation of Dubai (ICD).

Emirates Airline, the Group’s flagship carrier, delivered a pre-tax profit of $5.8 billion, representing a 20% increase from the previous year. The airline’s revenue rose by 6% to $34.9 billion, underscoring continued robust passenger and cargo operations.

Meanwhile, Dnata, the Group’s global air services provider, reported a record pre-tax profit of $430 million, up 2% year-on-year, as it expanded its ground handling, catering, and travel services footprint worldwide.

The Group currently has 314 aircraft on order, including 61 Airbus A350s and 205 Boeing 777X jets.

“While Ghana’s current account position has improved due to higher gold and cocoa export earnings and reduced import bills, aid remains an important non-debt-creating source of inflows,” the report stated.

Fitch noted that international aid currently accounts for nearly half of Ghana’s net transfers, making it a critical component of the country’s external accounts. The agency cautioned that a slowdown in aid, particularly from the U.S., could weaken Ghana’s ability to withstand shocks, especially in times of tightened external financing or export underperformance.

Although the country’s gross international reserves recovered in 2024 to $6.95 billion (3.0 months of import cover), sustained stability may depend on the successful completion of debt restructuring programs and renewed capital inflows, according to Fitch.

This surge in gold prices , which have risen more than 20% this year, is an indication that the Federal Reserve may soon cut its benchmark interest rate.

Antonio Ernesto Di Giacomo, a senior market analyst at XS said, “The historic rise in the price of gold above $2,500 per ounce reflects growing global economic uncertainty and investors’ continued search for safety. With economic, geopolitical, and monetary factors driving this surge, gold is solidifying its position as a safe haven in times of volatility,” he is quoted by the Guardian .

A factor contributing to gold’s record-breaking price is the increased demand from central banks, particularly in China, which are purchasing gold to reduce their reliance on the US dollar. 

Additionally, ongoing volatility in the stock market has made gold an attractive safe-haven asset, with analysts anticipating continued market instability throughout the remainder of 2024.

This was announced at the 2024 SMB Summit organised by TikTok in Ho Chi Minh City where SMEs connect to share business experiences and develop e-commerce activities last week.

Hưng Huỳnh, country head of SMB at TikTok Vietnam at the summit shared that the short video platform's aid was important because "While the online commerce market remains wide open, the business development potential of the SMB community has not been fully utilised, primarily due to limitations in human resources, tools, and digital transformation skills within businesses."

According to a report by Kantar Group -an international market research company- 98% of shoppers discover new brands or products through TikTok, and 72% of users make purchase decisions after seeing products on the platform.

Another study by Nielsen found that TikTok's return on ad spend (ROAS) ratio is twice as high as other media channels. With this initiative, TikTok aims to support the growth of SMEs in Vietnam and contribute to the development of the country's digital economy.

The countries included in the expansion plan are Oman, Somalia, Lebanon, Turkey, the United Kingdom, and Canada.

The commissioner overseeing employment services at the ministry Lawrence Egulu, revealed that a recent bilateral labour agreement was signed between Uganda and Qatar, spearheaded by Minister of Gender, Betty Amongi. This agreement is geared towards ensuring the safe migration of workers.

Egulu highlighted the focus on skilled workers in these agreements, including drivers, security personnel, teachers, plumbers, and architects, diversifying the job categories beyond domestic work. He emphasized Uganda's capacity to provide skilled labour and move away from solely supplying domestic workers.

Statistics from the Ministry of Gender, Labour, and Social Development indicate that between 2016 and 2023, over 269,452 Ugandan migrant workers ventured to 11 countries for employment opportunities. Among these workers, females accounted for 225,693, while males numbered 43,759. Saudi Arabia emerged as the top destination, predominantly for domestic work.

Despite security concerns, Somalia has also attracted Ugandan workers, particularly in the security sector, with 3,254 migrants heading there in the past eight years.

Minister Amongi is expected to explore additional opportunities in the United Kingdom, Canada, Turkey, Germany, and Poland, aiming for better salaries and improved working conditions for Ugandan laborers.

“We may receive up to 20 complaints per month of all kinds including runaways. The cases have definitely gone down. They are not as outrageous as they used to sound,” said Egulu.

To address issues of mistreatment and fatalities among migrant workers, the government has implemented the External Employment Management System to monitor their welfare. In 2023, the ministry received 868 complaints from Ugandan workers abroad, with efforts to address the cases ongoing.

As part of ongoing initiatives, the government plans to introduce a mobile app to assist Ugandan workers in reporting challenges while abroad. Migrant workers will be required to have smartphones with this app installed, further enhancing their ability to seek assistance and support when needed.

Director General at the Civil Tanzania Aviation Authority (TCAA) Hamza Johari said during an awareness workshop in Dar es Salaam on March 25 that discussions are ongoing to consider the opportunities and proper regulations before a final decision.

“As a country, we were out of this kind of business purposely to increase and bolster investment in our airlines. Now we see that it is the right time,” he was quoted by Daily News.

The SAATM is a project of the African Union to create a single market for air transport in Africa and is supposed to allow significant freedom of air transport in the African Continent, Daily News reports.

A total of 34 countries have signed up to the SAATM including Benin, Botswana, Burkina Faso, Cabo Verde, Cameroon, Central African Republic, Congo Brazzaville, Côte d’Ivoire, Egypt, Ethiopia, Equatorial Guinea, Gabon, Gambia, Ghana, Guinea (Bissau), Guinea, and Kenya. Others are Lesotho, Liberia, Mali, Morocco, Mozambique, Namibia, Niger, Nigeria, Democratic Republic of Congo, Rwanda, Senegal, Sierra Leone, South Africa, Swaziland, Chad, Togo and Zimbabwe.

The country intends to invest in a sovereign wealth fund, a state-owned investment fund with assets of more than $900.

The tech fund is being established with support from Wall Street Banks, according to the New York Times . With this, they will invest in tech start-ups tied to artificial intelligence including chip makers and expensive expansive data centers.

The project is estimated to start in the second half of 2024. If successful, the project has the potential to expand Saudi Arabia’s global business ambitions and develop its economy further, making it more influential in geopolitics.

 Other venture capitalists are likely to invest in the Middle Eastern country's tech fund, New York Times reports.

In January 2024, Saudi Arabia announced that it would be pumping in $1 billion into a regional AI startup accelerator. The announcement was made by Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology, Edge Middle East reports.

The report highlights a positive trend, as Nigeria's overall capital importation rose by 2.62% compared to the same quarter in 2022. The top contributors to this surge were other investments, accounting for 54.64% ($594.74 million) of the total capital imported, followed by portfolio investment with 28.46% ($309.76 million), and Foreign Direct Investment (FDI) with 16.90% ($183.97 million).

Breaking down the sectors, the production and manufacturing sector emerged as the leader, attracting $450.11 million, representing 41.35% of the total capital imported in Q4 2023. The banking sector followed with $283.30 million (26.03%), and financing with $135.59 million (12.46%).

The United Kingdom played a pivotal role in contributing to this positive trend, being the largest source of capital importation with $267.24 million and a 24.55% share. Mauritius followed closely with $226.18 million (20.78%), and the Netherlands with $149.93 million (13.77%).

Lagos State stood out as the prime destination, receiving $771.68 million, which accounted for a substantial 65.38% of the total capital importation in Q4 2023. Abuja (FCT) followed with $370.80 million (34.07%), and Rivers State with $6.00 million (0.55%).

In terms of banking institutions, Stanbic IBTC Bank Plc led the way by receiving the highest capital importation into Nigeria in Q4 2023, totaling $499.45 million (45.88%). Citibank Nigeria Limited followed with $229.06 million (21.04%), and Rand Merchant Bank Plc secured $85.85 million (7.89%).

Nyasa Times reported that the 2022 inflation figures were 21%. According to the NSO Consumer Price Index, the current 28.8% is an increase from the 28.2% official projection but better than the 29.5% earlier forecast.

In December 2023, Malawi’s inflation stood at 34.5%, 1.4% higher than the 33.1% recorded a month before.

The Annual Food and Non-Food inflation rates are also the highest in the last decade the report added, standing at 37.1% and 18.8% respectively.

The country reported an annual loss of up to 7 tons of gold recording 2,423 kilos of gold exported in 2019 and 1,778.83 kilos in 2020, according to an official Extractive Industries Transparency Initiative (EITI) report.

According to the government, only 3,051 kilos of gold were legally exported a year before, with 12 to 15 tonnes smuggled according to an investigation carried out in Dubai, Madagascar’s main gold recipient.

This led to a loss of an estimated $945 million for the country.

In 2020, disparities between official data and real data on gold exports led to the suspension of exports. While world statistics showed 20 tonnes of gold exported, only 2 tonnes of gold were declared on Malagasy territory. 938 kg of gold was also officially declared exported while statistics from recipient countries indicated 2 to 3 tonnes of gold imports yearly from Madagascar.

The suspension was lifted in 2022, accompanied by a series of measures aimed at better regulation and clean-up of the sector by tracing the production process from extraction to exportation.

According to Madagascar Tribune , the government has also announced a project to build a gold refinery plant.

Togo has in collaboration with Czech Republic, inaugurated an honorary consulate in Lomé. According to an announcement from government on December 19, Honorary Consul appointed by the Togolese government, Oukpedjo Abdou Saïd will oversee the enhancement of commercial, economic, sociocultural and scientific ties between both countries. The Consul will also have to safeguard the interest of Czech nationals in Togo according to Icilome .

Food production

The United Nations Food and Agriculture Program led by the FAO has launched the OCOP programme in Togo to boost the rice sector in the country. The program which was launched on December 18 in Lomé will support green production, green processing and green marketing while strengthening technical and organisational capacities of actors in the sector. The Togolese State intends to improve food and nutritional security of its nationals through rice production according to local news outlet Alome .

Environmental protection

Togolese government has adopted a bill aimed at revising the environmental framework law in force since 2008. This is in line with the country’s desire to align with global environmental standards. The revision, according to Togoweb , will provide the country with appropriate legal instruments and limit the negative impact of socio-economic activities on the environment.

Employment and investment

India has invested some 245 million dollars into Togo’s economy and created about 3,000 permanent jobs, according to Indian Ambassador Sanjiv Tandon. During a meeting with representatives of Indian Companies based in Togo, the Indian ambassador indicated that Togo offers a favourable framework for investment. “My Department is here to serve as a partner, to facilitate a smooth investment process beyond the completion of projects and into the operation of Indian businesses,” Manuelle Santos, Minister of Investment Promotion was quoted by the state website .

Togo hosts Algeria for friendly matches

Togo will host Algeria as they train for the CAN 2023 Africa Cup of Nations in Ivory Coast. The Algerian national team, Fennecs will play friendly matches with Togo as part of the training. The Algerians will play two friendly matches, the first against Togo on Friday January 5, followed by the second against Burundi on Tuesday January 9, according to Togoweb . 

Retired Principal Secretary (PS) in the Ministry of Housing and Urban Development has allegedly refused to vacate a government house after retirement. According to local news outlet Swaziland News , Chief Prince Jabhane, the King’s Advisor said that the former minister had not refused to leave but only expressed desire to buy the house situated at Queen Gate in the capital, Mbabane from government.

Economic innovation

The Manzini City Council has urged citizens to subscribe to a 24-hour operation vision intended to help boost the country’s economic boost. The City Council Mayor, Nozipho Dlamini acknowledged efforts by traders to begin the night market initiative at the flea market, a daily open market which houses all types of regular food and vegetables in the country. According to the Times of Swaziland , Dlamini further encouraged more traders to operate 24-hours from December into the new year, 2024. The flea market is also called the farmer’s market where one can buy the different variety of food found in the region.

Miss Cultural Heritage crowned

Seasoned model, Melinda Mavuso has been crowned Miss Cultural Heritage 2023/24. The event that was held at the George Hotel in Manzini, the capital of the Manzini Region in Eswatini saw Mavuso earn multiple gifts from different companies who sponsored the event. According to local news outlet New Observer , she will be assisted by four ambassadors from four regions, Nokwethu Motsa in Manzini, Lethukuthula Matsebula in Shiselweni, Luyanda Ndlela from Lubombo and Yandiswa Magagula in the Hhohho region.

Delayed salary payments for elections Clerks

Elections and Boundaries Commission (EBC) has failed to pay salaries of elections Clerks for almost three months, Swaziland News has reported. According to the report, the situation has raised concerns particularly because some of these clerks borrowed monies from shylocks. They have since demanded from the Chairman of EBC when salaries will be released.

Football fan nabbed for selling fake items

A female fan of the Mbabane Highlanders’ football team has been arrested for selling counterfeit merchandise, using the team’s logo, New Observer has reported. The supporter was reportedly found with the items during a derby at Mavuso Sports Centre, a multi-use stadium in Manzini, Eswatini. They included grey vests and white T-shirts which were sold at E350 and E120 respectively. The supporter whose name was withheld was caught after selling a bulk of the items to unsuspecting fans.

The event which happened on December 14 aims to acknowledge the achievements of outstanding business leaders on the continent on an annual basis.

According to local media outlet, Gabon Review , the Forbes Africa winner is also the Chairman of the the Board of Directors of the Central African Securities Exchange. (BVMAC).

He also plays a key role in the transition underway in Gabon.

The project, which will span five years and be administered by BoSS, is deemed vital in light of the prevailing weaknesses and vulnerabilities in South Sudan's banking sector.

In a press statement issued by the World Bank on October 16, Ousmane Dione, Country Director for Eritrea, Ethiopia, South Sudan, and Sudan, stated that "by addressing the emerging weaknesses in the financial sector, these concerted efforts will fortify and stabilize the sector, charting a strategic course for its future and ushering in the necessary reforms."

The project attempts to support the central bank by improving its institutional delivery capability, fortifying its technical and operational capabilities, and cultivating an accountable culture.

Dr. James Alic Garang, Governor of the Bank of South Sudan, while highlighting the essential role that the financial sector plays in driving private sector growth and BoSS's responsibility said, "BoSS leadership recognises the catalytic role the financial sector plays in spurring private sector growth and hence its critical responsibility to address and manage financial stability risks. The project will enhance BoSS’s capacity to perform this important role through strengthened enforcement and supervisory functions.”

The project is in alignment with the World Bank's Country Engagement Note (CEN) for South Sudan (FY2021-2023).