Author: Elan

By PwCWe’re pleased to share our latest publication, Nigeria’s Capital Gains Tax reforms: What the new 30% rate and indirect transfer rules mean for investors.Following the commencement of the Nigeria Tax Act on 1 January 2026, Nigeria’s Capital Gains Tax (CGT) regime has entered a new phase. The changes introduce a higher CGT rate for companies, broaden the scope of transactions that may be subject to tax, and raise important questions around the application of the new rules and their practical implementation.The reforms have important implications for investors, businesses and Nigeria’s investment landscape:For investors and businesses: Transactions involving Nigerian assets…

Partner Content: Africa’s Business HeroesThe Africa’s Business Heroes (ABH) Prize Competition, a philanthropic initiative of Alibaba Philanthropy, has announced the 20 entrepreneurs who will advance to its 2026 Semi-Final, taking place in Nairobi, Kenya, on 21–22 August.The Top 20 were selected from an expanded Top 100 cohort drawn from more than 24,000 applications across all 54 African countries. Candidates advanced through three-person judging-panel interviews that assessed leadership, innovation, impact, scalability and commercial strength. The process was reinforced by on-the-ground visits to every company advancing to the Semi-Final and comprehensive due diligence conducted by PlusVC, allowing ABH to test the written…

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Monierate, the real-time exchange rate intelligence platform, has expanded its rate radar to include a new set of providers: Textile, Gate Exchange, Doux, MavaPay, Zobo, Vban, and Karsa, bringing its total coverage to over 90 sources across the African exchange market. The expansion gives fintechs, neobanks, treasury teams, and cross-border businesses a wider, more accurate view of where African currencies are trading in real time, reducing the blind spots that come from relying on a handful of providers. For pricing teams, remittance operators, and businesses moving money across borders, the rate that matters is rarely a single number; it’s the…

Standard Bank Group, Africa’s largest bank by assets, is in discussions to acquire a stake in OPay before the Nigerian fintech company completes its planned listing on a US stock exchange, according to Bloomberg. The South African banking giant aims to become a shareholder ahead of what is expected to be one of the most significant African fintech IPOs in recent memory. OPay, which is backed by SoftBank and Sequoia Capital, has been collaborating with Citigroup, Deutsche Bank, and JPMorgan Chase to prepare for a New York listing, targeting a valuation of approximately $4 billion. This is double the $2…

Edgar Cervantes / Android AuthorityTL;DR Spotify’s Running Mode is now available on Android, giving Premium users custom playlists tailored to their running workouts. Users can customize workouts, genres, music discovery and BPM, with options for familiar songs, new music, Beat Matching and optional Audio Coaching. Running Mode is available in select markets, including Canada and the US, but requires a Spotify Premium subscription. I try to work out at the gym at least four days a week, and I know the struggle of finding the right music can sometimes be harder than the lifts. Some days I need an energetic…

Nathaniel Micklem, co-head of emerging market alternative credit at Ninety One** For the best experience, download the free Africa Private Equity News app Android | iOS **Ninety One has announced the final close of its Africa Credit Opportunities Fund 3 (ACO3 Fund). The ACO3 Fund closed with $404 million (including leverage) in commitments from institutional investors including development finance institutions, pension funds, and family offices across Africa, Europe, the UK, the US and Canada.The ACO3 Fund invests mainly in senior secured private credit opportunities. It provides flexible financing to businesses and critical infrastructure projects across Africa and other emerging markets.…

Lusaka — Zambian President Hakainde Hichilema has been re-elected for a second five-year term in the elections held on August 13 (see Fides, 13/8/2026). Hichilema won with 2,965,326 votes, representing 60.49% of the 4,902,050 valid votes cast. His main challenger, Brian Mundubile, received approximately 1,856,217 votes, equal to 37.87% of the total. Mundubile was forced into exile after being accused of taking part in an alleged plot to stage an armed insurrection. At least ten prominent figures associated with Mundubile’s political camp have been arrested, including his spokesperson, George Chisanga, and Patrick Mwansa, the husband of former President Edgar Lungu’s…

For years, conversations about artificial intelligence (AI) have centred on chatbots, image generators and the race to build  powerful large language models. Across Africa, however, technology is taking on a different role by solving everyday problems that affects healthcare, agriculture, logistics, financial services and insurance. Rather than competing with OpenAI or Google to build frontier AI models, African startups are embedding AI into products that address local challenges which ranges from detecting fake medicines to reducing insurance fraud and also helping farmers increase yields and enable businesses to automate routine tasks. Their timing coincides with a growing economic opportunity because…

Nairobi — President William Ruto was on Tuesday taken through KEMSA’s digital transformation programme during a visit to its exhibition stand at the Kenya Health Summit in Nairobi. The authority demonstrated how digital systems are being used to improve efficiency, accountability and visibility across the health supply chain, alongside doorstep delivery of essential commodities to health facilities. KEMSA said its order fill rate currently stands at 90 per cent, up from 40 per cent three years ago, ensuring health facilities receive essential medicines and medical supplies they need. The authority also highlighted its Paperless KEMSA system, which is designed to…