AGP Executive Report

Township Retail Shield: South Africa’s Small Business Development Minister Stella Ndabeni tabled a R3bn budget to protect spaza shops, blaming big retailers and illegal traders for pushing locals out of township and rural markets; she cited 100,000+ spaza shops worth about R200bn a year and said the department will target one million MSMEs. Social Protection Push: Government also extended the SRD grant to March 2027, with Social Development allocating R302bn for 2026/27—R293bn for monthly transfers and R36.4bn for SRD. Ebola Alarm Across Borders: Global Virus Network experts urged faster regional action as the Bundibugyo Ebola outbreak in DRC’s Ituri province raises cross-border concerns, with Uganda reporting imported cases. Skills for Finance: IMA launched micro-credentials for finance professionals to build practical, future-ready skills amid AI and volatility. Digital Trade Integration: EAC and IGAD stepped up work on regional digital systems to boost trade and cross-border payments. Network Investment: MTN earmarked R480m to upgrade connectivity in Free State and Northern Cape. SME Export Finance: Afreximbank injected US$15m into Ecobank Zimbabwe to back export-linked SMEs.

AfCFTA Execution Push: At Biashara Afrika 2026 in Lomé, AfCFTA officials and President Gnassingbé framed trade as a jobs-and-inclusion engine—urging governments to move from policy talk to real market access for small traders, women, and youth, with cross-border digital payments front and centre. Fintech Credibility Check: South Africa-focused Payaza won upgraded credit ratings (to AA- and A-) as African fintechs face tighter funding and regulators demand stronger governance and resilience. SME Financing Boost: The AfDB approved a $200m facility for Nigeria’s Bank of Industry, prioritising SMEs—especially women and young entrepreneurs—and climate-resilient projects. Business-to-Consumer Momentum: Stellantis launched Citroën’s new Hola panel van in South Africa, aiming at fast-growing delivery and e-commerce fleets. Capital Markets Move: Africa Bitcoin Corporation is transferring its listing to the JSE Main Board, with the upgrade set for May 22. Energy Pressure, Still: In Nigeria’s FCT, residents complain about estimated electricity bills and are demanding prepaid meters.

South Africa Xenophobia Watch: Anger towards migrants is hitting crisis levels again, with youth in townships increasingly caught in a blame-and-exclusion cycle that feeds on unemployment, weak service delivery, and low accountability for past violence. Power & Business Sentiment: Supporters are celebrating Ramaphosa’s milestone of 365 days without scheduled load-shedding, but the debate is already shifting to whether stability will hold as costs and jobs remain fragile. SME Finance Push: Nigeria’s Bank of Industry just secured a $200m AfDB-backed facility aimed at medium-to-long-term funding, with at least 30% targeting SMEs—especially women and youth. Trade & Export Momentum: Afreximbank is also backing Zimbabwean SMEs via a $15m Ecobank facility to strengthen export-linked working capital and capex. Tourism Deal-Making: Durban wrapped Africa’s Travel Indaba 2026 and launched its 5th Tourism Business Awards, betting on partnerships to turn visitor demand into local jobs. Tech & Infrastructure: Digital Realty opened its first Barcelona data centre, while South Africa’s Huawei Code4Mzansi competition spotlights township-focused digital solutions. Markets & Policy Pressure: LCCI in Nigeria is urging deeper reforms as inflation climbs to 15.69%, squeezing manufacturers and households.

SME Finance Boost: The AfDB has approved a $200m facility for Nigeria’s Bank of Industry to unlock long-term “patient capital” for SMEs in infrastructure, transport, agro-processing, health, pharma and green industry—aiming for at least 30% of proceeds to reach Nigerian SMEs, with extra focus on women and youth. Trade Rules Under Pressure: AfCFTA’s next test is starting tomorrow in Lomé as Biashara Afrika 2026 opens amid debate over why intra-African trade still sits below 20% despite the big single-market promise. Connectivity Push: MTN is investing R480m to upgrade networks in South Africa’s Free State and Northern Cape, targeting better 4G reliability and expanded 5G coverage for rural and underserved towns. Fraud Fallout: South Africa’s Standard Bank is under scrutiny after reports of alleged fraud-handling failures that left clients facing major losses and delays. Fuel Cost Politics: In the UK, FairFuelUK says Chancellor Rachel Reeves is preparing to drop a planned fuel duty rise—an immediate relief for small businesses, though it may not last. Tourism Reality Check: Tourism is still wrestling with war-driven travel shocks, even as conservation-led tourism efforts in South Africa push for sustainable growth.

Banking & SME finance: AfDB has approved a $200m facility for Nigeria’s Bank of Industry to push “patient capital” into SMEs across infrastructure, agro-processing, healthcare, pharma and green industry—aimed at unlocking long-term growth where conventional lenders hesitate. Power & livelihoods: TCN and AfDB have started phase two compensation for the Alaoji–Onitsha transmission line, covering crop-affected communities in Abia and Imo and rolling into a livelihood restoration push for petty traders along the corridor. Connectivity upgrades: MTN will invest R480m to strengthen Free State and Northern Cape networks, targeting better 4G reliability and expanded 5G coverage in towns and rural farming districts. Political pressure: South Africa’s ANC faction is calling for Ramaphosa to resign as unemployment climbs to 32.7%, adding fuel to a jobs crisis that’s already squeezing SMEs. Ghana mining risk: Ghana’s Chamber of Mines warns Côte d’Ivoire could steal the gold crown next, echoing how it overtook cocoa—investors, it says, follow clearer rules and stable policy. Security crackdown: Operation Shanela II in Northern Cape netted 545 arrests, including drug and illegal liquor trading cases.

Fuel-Fueled Anger: Kenya’s latest fuel price jump is sparking protests and shortages, with riders and small traders saying diesel budgets have doubled overnight and pumps are running dry in parts of Nairobi. SME Pressure: In South Africa, the jobless rate keeps climbing—345,000 jobs lost in four months—squeezing SMEs as demand weakens. Power Line Compensation: Nigeria’s TCN and AfDB have started Phase 2 compensation for the Alaoji–Onitsha transmission upgrade, including livelihood support for traders along the corridor. Banking Calm After Court: Ecobank Ghana says it’s operating normally after a court ruling, stressing its financial position remains strong. Creative Economy Push: IFC and Masai Ujiri’s Zaria Group are backing a sports-and-entertainment district plan starting in Kigali and Nairobi. Gold Race Warning: Ghana’s mines lobby warns Côte d’Ivoire is moving fast to steal gold dominance with a more predictable investment climate. Policy Data Boost: OECD pledges stronger economic and investment data support for Nigeria’s reforms.

Fuel Shock: Protests flared across Kenya as EPRA’s fuel price jump left stations dry and costs spiking for boda boda riders, matatus and small traders—an economy-wide hit that lobby groups say will push up prices everywhere. SME Finance Boost: Nigeria got a $200m AfDB facility for the Bank of Industry, with at least 30% earmarked for SMEs and priority for women and youth-led firms. Reform Backing: At the Africa CEO Forum in Kigali, OECD pledged stronger data and support for Tinubu’s reforms, aiming to lift investor confidence and unlock long-term capital. Digital Commerce Shift: New research highlights how women increasingly run businesses through WhatsApp in Kenya and Nigeria—turning chat into the real storefront. Zimbabwe Leadership: Mnangagwa appointed Justice Elizabeth Gwaunza as Zimbabwe’s first female Chief Justice, a major gender milestone for the judiciary. Trade Friction: UNCTAD warns non-tariff barriers are quietly raising export costs across most countries, even as tariffs creep up. South Africa Governance: SABS is pulling in private-sector help to craft a turnaround plan after years of financial strain.

Fuel Shock Watch: Kenya’s fuel prices jumped again—diesel up Sh46.29 to Sh242.92 in Nairobi and super petrol up Sh16.65 to Sh214.25—prompting manufacturers and traders to warn of economy-wide cost pressure. Trade Friction: UNCTAD flags “invisible barriers” as non-tariff measures keep raising export costs for 88% of countries, even as tariffs creep back up. Digital Inclusion & Payments: Nigeria’s NITDA doubles down on a coordinated startup/digital ecosystem, while Kenya’s M-PESA reports 17.1bn free “Kadogo” transactions (58% of activity) after zero-rating small transfers. SME Momentum: Standard Bank’s Kasi SME Pitch Challenge opens with a R1m prize path for township entrepreneurs. Gender Milestone: Zimbabwe appoints Justice Elizabeth Gwaunza as the country’s first female Chief Justice. Tech & Mobility: Bolt partners with China’s Dongfeng to roll out EVs in South Africa, starting in Cape Town. Courtroom Fight: South Africa’s Black Business Council backs a bid to halt Transnet’s foreign-only rail tender.

Xenophobia Escalates Diplomatic Pressure: Ghana has formally petitioned the African Union over recurring xenophobic attacks on Africans in South Africa, calling it an “urgent continental interest” ahead of AU talks in Egypt—an echo of how fragile Pan-African unity feels right now. Local Business Under Strain: South Africa’s motor body repair ecosystem is under structural pressure as independent SMEs face OEM compliance costs while insurers and margins squeeze—raising risks for vehicle safety and claims stability. SME Growth Meets Digital Reality: South Africa’s SMMEs are shifting to digital-first sales and “daily deals” to bypass retail shelf barriers, while Kenya’s MSMEs are warned that posting online isn’t enough without stronger digital skills and cyber safety. Tech + Capital Momentum: Fasset secured a $51m Series B to expand regulated stablecoin banking across Asia and Africa; Africa Tech Summit London selected 13 ventures for an investor showcase. Policy + Jobs Push: Ramaphosa told parliament the water crisis is being coordinated via a national action plan, and he faced tough questions on investment-led job creation and unemployment.

Jobs & SME finance in Lagos: The Lagos State Employment Trust Fund says it placed 2,127 Lagosians into work after training 3,456 (61.5% placement), while also disbursing ₦1.91bn in loans to 4,036 MSMEs and ₦23.6m in grants to 65 businesses. SME readiness for funding in Tanzania: Dar es Salaam Stock Exchange experts urged SMEs to tighten governance, improve reporting and formalise operations to unlock sustainable capital via its DEAP and Endeleza Portal. East Africa competitiveness push: The EAC launched 2026 Regional Quality Awards to reward firms for quality management, standards compliance and innovation—aimed at boosting trade and integration. South Africa jobs vs capital spending: President Ramaphosa admitted some big renewable energy and data-centre deals aren’t creating enough jobs, as unemployment rose to 32.7%. Cross-border business momentum: Nigeria’s Jiji acquired Bangladesh’s Bikroy.com, signaling more African-led expansion beyond the continent. Road Accident Fund reform: South Africa’s transport ministry is reviewing RAF rules and floating a hybrid funding model to cut pressure on the fiscus.

Tourism Push in South Africa: President Cyril Ramaphosa opened Africa’s Travel Indaba in Durban, pitching tourism as a growth engine and jobs creator, and pointing to 10.5 million international visitors last year—plus a big share coming from within SADC. Nigeria Debt Debate: The ADC accused President Tinubu’s government of running a “Ponzi economy,” arguing fresh borrowing is piling up while Nigerians face rising costs and insecurity. Cross-Border Commerce Moves: Jiji, Nigeria’s classifieds giant, bought Bangladesh’s Bikroy.com, marking its first expansion outside Africa. SME Credit Gets Faster in SA: Nedbank launched pre-approved loans up to R20m for qualifying SMEs, aiming to cut the uncertainty that stalls growth. Payments Could Cost More in Kenya: Kenya’s Finance Bill proposes a 16% VAT on companies that enable digital payments, raising the risk of higher M-Pesa and merchant fees. Cybersecurity Warning: South Africa’s data breach headlines keep coming, with Stats SA among recent targets and ransomware detections flagged as the highest in Africa. Energy & Industry Signals: Nigeria’s infrastructure stakeholders urged private capital to close a $2.3tn deficit, while Dynacor reported record Q1 output and cash flow.

EU–Namibia Deal: The EU has extended its strategic partnership roadmap with Namibia to 2030, with new focus on renewable hydrogen, critical raw materials, and industrial development—backed by €4m for lithium value-chain work and trade that supports tens of thousands of jobs. Trade Finance Push: Ecobank and partners are committing $3bn to expand competitive trade finance across agribusiness and manufacturing, aiming to strengthen supply chains and market access. Investment Flywheel in Lagos: Lagos State will host Invest in Lagos 3.0 targeting N4tn in local and foreign direct investment, with implementation pathways across infrastructure, energy transition, logistics, and SME growth. Kenya Banking Bright Spot: Co-op Bank of Kenya posted record Q1 profit of Sh8.41bn, helped by non-banking subsidiaries, even as the wider economy stays tough. Jobs Pressure in South Africa: New unemployment figures show a sharp worsening in early 2026, sparking fresh political and labour backlash. Payments Get Easier: Yoco launches tap-to-pay on iPhone with Apple, pushing mobile-first commerce further for small merchants. Road Accident Fund Reform: South Africa’s transport ministry is exploring a hybrid funding model for the RAF as alternative vehicles threaten fuel-levy sustainability.

Road Accident Fund shake-up: South Africa’s Transport Ministry is weighing a hybrid funding model for the RAF—mixing private and public money—to cut the long-term burden on the fiscus, alongside a Road Accident Benefit Scheme Bill built on no-fault, structured benefits. Sanral tolling pressure: The same budget push flags likely more tolling as Sanral takes on failing provincial roads, with government also trying to front-load provincial road maintenance grants. SME payments momentum: iStore Pay launches in South Africa with Tap to Pay on iPhone, aiming to make contactless acceptance cheaper and simpler for small traders. Tourism deal-making: President Ramaphosa opened Africa’s Travel Indaba in Durban under “Unlimited Africa,” as the sector targets jobs and growth through new routes and partnerships. Crypto regulation in Mauritius: B2BINPAY wins FSC Mauritius VASP licenses, signaling a more regulated base for crypto payments across Africa. Energy access boost: IFC-backed pay-as-you-go solar financing is set to expand rural electricity access. Jobs reality check: KwaZulu-Natal is the only province to add jobs in Q1 2026, even as SA unemployment climbs.

Agri Finance Push: Proparco and Ecobank just expanded a decade-long partnership, mobilising up to €300m over three years to scale agri-SME lending, agro-industrial investment and commodity trade finance across 33 countries—with a clear women-led business focus. Digital Lending Watch: At 3i Africa Summit, MobileMoney CEO Shaibu Haruna warned that inclusion without consumer safeguards can become a debt trap, calling for transparency and responsible lending. Trade & SME Capital: Ecobank also flagged a $3bn intra-Africa trade finance commitment, while BII and Ecobank DRC launched a $30m risk-sharing facility for frontier-market SMEs. Policy Meets Power Costs: Nigeria’s solar momentum is real but uneven, with cost and policy barriers still slowing adoption as electricity and fuel pressures bite. Tourism Momentum: South Africa’s Ramaphosa used Travel Indaba to push borderless tourism and visa reforms, citing 10.5m arrivals last year and betting on new regional markets. SME Payments: iStore Pay in South Africa brings Tap-to-Pay on iPhone to help small merchants accept contactless payments without extra hardware.

Transport Funding Push: South Africa’s transport ministry says Sanral is set to get nearly R31bn this year to maintain and expand roads—aimed at cutting travel times, boosting safety, and creating jobs. Shared Mobility Investment: Bolt marks a $181.3m South Africa milestone, citing R3bn invested over 10 years to grow driver and rider opportunities. SME Finance for Construction: Sedfa and CIDB launch a R300m Construction Fund to widen access to finance for construction MSMEs and strengthen participation across the value chain. Tourism Without Borders: Ramaphosa backs a SADC-wide push for a tourism visa and easier cross-border travel, arguing Africans are increasingly choosing Africa. Digital Payments, On the Go: iStore Pay launches Tap to Pay on iPhone in South Africa, cutting the need for card machines for small businesses. Nigeria Revenue Signal: Nigeria’s manufacturing sector VAT hits N1.17tn in 2025, up 45.61% year-on-year. Wildlife Law Watch: Nigeria’s Senate passed a stronger wildlife bill, but enforcement resources remain the big question. Fintech Momentum: UNDP says AfCFTA could reshape Liberia’s economy—if services regulation and competitiveness improve.

Africa’s Economic Sovereignty Push: Kigali’s Africa CEO Forum 2026 in Rwanda spotlights a new push to align political leadership with private capital as debt stress and commodity competition bite—industrial sovereignty and infrastructure funding are the headline themes. Digital Finance, Faster: IFC and Standard Chartered just launched a $300m risk-sharing facility to expand supply-chain finance across multiple African markets, while Mastercard and Letshego rolled out a Mozambique debit card to widen secure digital payments. Fintech Meets Regulation: Ghana’s BoG says it will set up fintech innovation hubs and tailor rules for fintechs—at the same time, 3i Africa Summit keeps hammering “inclusion without protection is a trap” as digital lending grows. SME Funding Gets Sharper: Lagos-based BFREE is raising to buy distressed loan portfolios, and EADB unveiled a $13m facility for youth and women-led SMEs. Trade Opportunity: China’s zero-tariff access to 53 African countries is framed as a practical export unlock. Social Tensions Still Roil: South Africa’s xenophobia debate stays front and centre, with Ramaphosa linking violence to illegal immigration and criminal opportunism. Business Pulse: Zain Group reported $1.86bn Q1 revenue and $260m net profit; Bakkt and Kyntra Bio also posted Q1 updates.