AfDB, Angola launch $125m project to boost youth entrepreneurship

The African Development Bank (AfDB), in partnership with the Government of Angola and the European Union, has launched the $125 million Youth Employment Project (Crescer Project) to promote entrepreneurship, job creation, and skills development among young Angolans.

The initiative aims to create over 149,000 jobs — including 37,000 direct and 112,000 indirect — while supporting 10,400 micro, small, and medium enterprises (MSMEs) and 97 startups. It will also provide training in digital technology, agriculture, transport, and renewable energy, with at least 50% of beneficiaries being women.

The project will be financed through contributions from the AfDB ($79 million), the Angolan Government ($29 million), and the European Union ($16 million).

Read Also: AfDB commits $40m to drive AGIA green infrastructure fund

Speaking at the launch, Eugénio Maria Paulo, AfDB’s Executive Director for Angola, Mozambique, Namibia, and Zimbabwe, commended Angola’s commitment to empowering youth.

“By placing young people at the center of national development, the government is investing in Angola’s future,” he said.

Minister of Planning Victor Hugo Guilherme noted that the project aligns with the country’s “Angola Vision 2050” and “PDN 2023–2027” strategies, supporting national development and the UN Sustainable Development Goals (SDGs).

The Crescer Project will focus on three areas: skills development, business acceleration, and access to finance, while also strengthening public-private partnerships and institutional capacity.

This initiative complements ongoing AfDB-backed projects, including the Science and Technology Park, which is expected to be completed by November 2025 to drive innovation and economic diversification.

The African Development Bank currently manages 16 active projects in Angola, valued at $1.45 billion, spanning energy, water, agriculture, transport, and finance sectors.

IFC, AfDB appoint inspired evolution to lead $1b renewable energy fund for Africa

The International Finance Corporation (IFC), the African Development Bank Group (AfDB), and partner organisations have appointed Inspired Evolution as the investment manager for Zafiri, a new decentralised renewable energy (DRE) equity investment platform aimed at accelerating electricity and clean cooking access for millions across Sub-Saharan Africa.

Zafiri is a central component of Mission 300, a joint initiative by the World Bank Group and AfDB to connect 300 million Africans to electricity by 2030. The new fund is designed to close Africa’s long-standing energy financing gap by channeling long-term equity into small and medium-sized DRE companies that are often overlooked by traditional financiers.

Zafiri’s founding partners include IFC, AfDB, The Rockefeller Foundation, Trade and Development Bank Group (TDB Group), and the Nordic Development Fund (NDF).

Closing Africa’s Energy Financing Gap

Inspired Evolution, the Cape Town-based investment firm appointed to manage Zafiri, has a proven record in renewable energy investment across Africa. Since its founding in 2007, the firm has financed over 10 GW of clean energy projects, supported 29 companies in 18 countries, and manages more than $850 million in investments.

“One of the key challenges slowing Africa’s energy transition is the lack of equity financing for distributed energy companies,” said Ethiopis Tafara, IFC Vice President for Africa. “Zafiri addresses this ‘missing middle’ by providing long-term equity to these providers, helping them scale and innovate. We’re proud to support this initiative, which will reach over 30 million people and create new jobs across the continent.”

Kevin Kariuki, AfDB Vice President for Power, Energy, Climate and Green Growth, added: “By combining AfDB’s Sustainable Energy Fund for Africa (SEFA) with IFC and partners, Zafiri will inject the risk capital needed to elevate the DRE sector to commercial maturity and expand access to millions living beyond the grid.”

A $1 Billion Push for Energy Access

Zafiri is structured as a permanent capital investment vehicle, providing stable, long-term financing to off-grid and decentralised energy companies. The fund leverages concessional junior equity to reduce investment risks and attract commercial capital.

Read Also: AfDB commits $40m to drive AGIA green infrastructure fund

With an initial $300 million in capital by 2026, Zafiri is expected to scale up to $1 billion, targeting more than 30 million new energy and clean cooking connections across Africa. Operations are set to begin in early 2026.

“We are honoured to partner with IFC, AfDB and other investors to manage Zafiri,” said Wayne Keast, Co-Founder and Managing Partner at Inspired Evolution. “Our focus will be on building high-impact businesses that deliver clean, affordable, and reliable energy while driving inclusive, climate-resilient growth.”

Global Partners Backing Africa’s Clean Energy Future

The Rockefeller Foundation, which has pledged $10 million to Zafiri, reaffirmed its commitment to accelerating energy access.

“Inspired Evolution’s proven track record makes it an ideal partner to drive equitable and sustainable energy access,” said Ghita Benabderrazik, Director of Innovative Finance at the Foundation.

TDB Group President Admassu Tadesse highlighted the importance of blending equity with debt solutions:

“By joining forces with our partners, we’re providing much-needed equity to small-scale DRE providers that catalyse sustainable community development.”

Satu Santala, Managing Director of NDF, also noted: “Zafiri enables the speed and scale required to meet Mission 300’s ambitious goals. Our capital will help attract significant commercial investment for climate action across Africa.”

With Zafiri’s launch, Africa takes a major step toward bridging its off-grid energy gap, empowering millions of households and businesses while driving the continent’s clean energy transition.

National Convention: Anyanwu’s signature not forged – PDP

The Peoples Democratic Party (PDP) says the allegation of forged signature on letter for its national convention to the Independent National Electoral Commission (INEC) by the National Secretary, Sen. Samuel Anyanwu is false.

The party’s National Publicity Secretary, Mr Debo Ologunagba flanked some leaders of the party stated this at a news conference in Abuja.

He described Anyanwu’s allegation as false and calculated attempt to derail the party and its national convention scheduled for Nov.15 in Ibadan

He recalled that the decision on the date, venue and agenda of the elective national convention was taken at the party’s 101 National Executive Committee (NEC) meeting, in which Anyanwu participated during which him and the party chairman were directed to write INEC.

He said that the Certified True Copies from INEC showed that Anyanwu was number 4 on the attendance list, while available pictures also proved that he was present at the same meeting where composition for the convention committees were approved.

Ologunagba also said that both Anyanwu and Damagum co-signed the letter he now disclaimed at a meeting on Aug. 25 PDP, a day before its 102nd NEC meeting which was held on Aug. 26.

“That meeting of Aug. 25 was preceded by a meeting of governors, NWC members, leaders of the party, in this building, in the office of the National Chairman, Umar Damagum, where every member from the NWC was present.

“Others at the meeting were Gov. Umaru Fintiri of Adamawa, Gov. Bala Muhammad of Bauchi State and Sen. Anyawu, the legal adviser and national organising were also present,” he said

Other present at the meeting according to Ologunagba were Governors Ademola Adeleke of Osun, Seyi Makinde of Oyo, and Dauda Lawa of Zamfara.

He further listed the former Senate President Sen. Bukola Saraki, former Minister, Taminu Taraki, SAN, former Niger Gov. Babangida Aliu and all NWC members among those present.

Ologunagba stated that at the meeting four letters were co-signed by Damagum and Anyanwu.

“The letters were PDP letter on National Elective convention to INEC composition of national convention membership, notice of repeat PDP South-East 2025 Zonal Congresses, notice of repeat of PDP Congress in Anambra and Ebonyi.”

He added that Anyanwu did not only sign the letters, he was the secretary of the National Convention Contact and Mobilisation Sub-Committee, in which he even started working for the sub-committee.

“To show that he started working on that, there was a budget presented by him. The budget was sent to Gov. Duoye Diri, the chairman of the contact and mobilisation subcommittee,” he said.

Ologunagba said that Anyanwu also signed letters to the sub-committee members including an aide in his office.

Read Also: PDP postpones 103rd NEC meeting

“Curiously, few days after he suddenly woke up and say letter was forged. When the NWC is aware of this acknowledgement.

“So at what point does that become a forged document? 50 old days after the letter was signed,” he said.

Ologunagba urged the security agencies to investigate Anyanwu’s allegations and ensure if found out to be false, he should face the consequences.

“Beyond this, there is a calculated attempt to derail the party and ensure that the convention is not in place. But again, this is a falling flat on the face because it’s untrue. At best, it’s a lie.

“It is criminal to make false allegations before security officials and security agencies.

“I would think they should take it up and our party would be interested in having to get to the end of this matter because forgery is a very serious allegation.

“If anybody who is involved in it or who is behind stories that are not true with regards to that, they should have their day with the security agencies,” he said.

Ologunagba, however, said that irrespective of the bricks thrown at the party, PDP was focused on its convention.

Asked if any of the PDP leaders had been invited by the secretary the police of any of the security agencies over the allegation, Ologunagba said not to his knowledge.

On speculation about Gov. Diri defection to the APC, Ologunagba said that the PDP was party of the people and not individuals.

“Yes, governors have roles to play, but winning elections is not solely about governors.

“It is a combination of the people and the governor as leaders and other people to allow us to win. The real strength of winning is in the people,” he said.(NAN)

JUST IN: Nottingham Forest appoint Sean Dyche as new manager

Nottingham Forest have appointed former Burnley and Everton boss Sean Dyche as their new manager.

The 54-year-old Englishman, who has signed a contract to run until the summer of 2027, becomes the Forest’s third different boss this season.

Dyche succeeds Ange Postecoglou, who lasted just 39 days and was sacked 17 minutes after Saturday’s 3-0 defeat by Chelsea in the Premier League.

Postecoglu did not win any of his eight games in charge – drawing two and losing six – after he was brought in to replace Nuno Espirito Santo, who was sacked just three matches into the campaign.

Forest are 18th in the league table after one win in eight games during what has been a difficult start to the season.

Dyche’s first game will be a Europa League game at home to Porto on Thursday before Forest are at Bournemouth in the Premier League on Sunday.

Read Also: Nottingham Forest sack Postecoglou after 39 days in charge

The process to appoint a new manager was led by Forest’s global head of football Edu Gaspar and global technical director George Syrianos.

Former Italy and Manchester City boss Roberto Mancini also held discussions with Forest about the post, while Fulham manager Marco Silva was also known to be admired by the club.

“A respected and experienced Premier League manager, Dyche brings the perfect blend of character, tactical acumen and proven achievement to guide the club through its next chapter,” said a Forest statement.

“As a former Forest youth player who lives locally, Dyche also has a deep understanding of the values and pride of Forest and its supporters.

“His appointment represents the best opportunity for a successful and competitive season across both domestic and European competitions.”

Dyche’s coaching staff will include Ian Woan and Steven Stone, who both played for Nottingham Forest.

“It’s a mess isn’t it?” said BBC Sport football pundit Chris Sutton on the Monday Night Club before Dyche’s appointment was confirmed.

“If Dyche gets over the line it is an admission that they got it wrong with Ange Postecoglou and are thinking about survival.

“Dyche has always managed clubs where it has been a struggle. He bucked the trend at Burnley and got the best out of the players he had and proved himself to be an extremely capable manager.

“At Everton he took over a team in trouble and stabilised the club. He had points deductions to contend with.

“Forest want to stay in the league so it seems a sensible appointment. They won’t go down, they have too many good players.”

BBC Sports

Africell expands partnership with NBA Africa to four countries

Africell, Africa’s only U.S.-owned mobile network operator, has announced the expansion of its collaboration with NBA Africa beyond Angola to include its other operating markets — the Democratic Republic of the Congo (DRC), The Gambia, and Sierra Leone.

The partnership, launched in 2022 in Angola, has already impacted thousands of young people through Jr. NBA tournaments, basketball clinics, and court refurbishments, nurturing a new generation’s passion for the sport in one of Africa’s basketball powerhouses.

Building on that success, the initiative will now extend to the three additional countries, with a new Jr. NBA league set to tip off in Angola next month. In 2026, the programme will expand to include clinics and 3-on-3 tournaments across all four Africell markets.

Read Also: AFRICA24 to cover Afreximbank President George Elombi’s historic investiture live

The collaboration aligns with the Africell Impact Foundation’s focus on sports and healthcare, aiming to create meaningful social impact while supporting Africell’s commercial strategy by engaging youth and growing its customer base.

“The NBA brand has an incredible influence in Africa,” said Ziad Dalloul, CEO and Founder of Africell Group. “It represents aspiration, hard work, and excellence. We’re thrilled to expand this partnership to DRC, The Gambia, and Sierra Leone, sharing the excitement of basketball with young people across our markets.”

Clare Akamanzi, CEO of NBA Africa, highlighted the transformative potential of the partnership:

“Our collaboration with Africell in Angola has shown how basketball can inspire and empower youth. We’re excited to bring that same energy to new countries where Africell is already deeply rooted and where the love for basketball is strong.”

The expanded Africell–NBA Africa partnership is expected to further promote youth development, teamwork, and community engagement across the continent.

AFRICA24 to cover Afreximbank President George Elombi’s historic investiture live

Pan-African media group AFRICA24 has announced plans for full coverage of the investiture and swearing-in ceremony of Dr. George Elombi, the newly elected 4th President of the African Export-Import Bank (Afreximbank), scheduled for October 24 and 25, 2025.

The two-day event will mark a historic leadership transition at Afreximbank, celebrating the achievements of outgoing President Professor Benedict Oramah while ushering in a new era under Dr. Elombi. The ceremony will also spotlight Afreximbank’s strategic vision to drive intra-African trade, economic integration, and sustainable growth across the continent.

Two-Day Event Overview

  • Friday, October 24: A series of thematic conferences under the theme “A Decade to Build the Pillars of Future Prosperity” will highlight Professor Oramah’s legacy and accomplishments.
  • Saturday, October 25: The official investiture and swearing-in ceremony will see Dr. Elombi present his vision for Afreximbank before an audience of heads of state, ministers, business leaders, institutional partners, and shareholders. The day will conclude with a press conference.

Read Also: Ohanaeze Lagos backs Tinubu’s 2027 bid

The investiture aims to reinforce Afreximbank’s core priorities — mobilising funding for intra-African trade, supporting the African Continental Free Trade Area (AfCFTA), and advancing inclusive growth through innovation, sustainable industries, and youth and women’s entrepreneurship.

AFRICA24’s Exclusive Coverage

AFRICA24 will deliver comprehensive 360° coverage of the event across its TV and digital platforms, reaching over 120 million households worldwide. The programming includes:

  • Live broadcasts of all conferences, ceremonies, and press sessions.
  • Exclusive interviews with Dr. George Elombi, Prof. Benedict Oramah, heads of state, and key economic stakeholders.
  • Behind-the-scenes reports, in-depth analyses, and expert insights into Afreximbank’s evolving leadership and Africa’s economic transformation.

Viewers can follow the “Special Afreximbank Days” coverage on AFRICA24 (Channel 249) and AFRICA24 English (Channel 254) on Canal+ Afrique, via myafrica24 — Africa’s first HD streaming platform — and on Africa24TV.com.

With the theme “Together, Let’s Transform Africa,” AFRICA24 reaffirms its commitment to showcasing stories that shape the continent’s future.

JUST IN: Nnamdi Kanu’s brother, lawyer arrested, Sowore claims

Omoyele Sowore, the convener of the #FreeNnamdiKanuNow protest, has alleged that police officers deployed to disperse the demonstration have arrested Nnamdi Kanu’s brother and his lawyer, Aloy Ejimakor.

In a post on his X account, Sowore alleged that policemen arrested Kanu’s brother, Ejimakor, and other bystanders.

Read Also: Police fire teargas at Sowore, ‘Free Nnamdi Kanu’ protesters in Abuja

Sowore wrote: “The @PoliceNG team deployed to brutalize #FreeNnamdiKanuNow protesters arrested Nnamdi Kanu’s brother, and his lawyer, @AloyEjimakor, as well as innocent bystanders.

“They were beaten and taken to the FCT command. The police must release them immediately!”

Police fire teargas at Sowore, ‘Free Nnamdi Kanu’ protesters in Abuja

Police fired teargas in Abuja on Monday to disperse protesters led by activist Omoyele Sowore, who gathered to demand the release of detained IPOB leader Nnamdi Kanu.

The demonstrators, chanting “Free Kanu now,” marched peacefully near the Federal High Court before security operatives moved in, firing canisters to break up the crowd.

Read Also: U.S. Embassy issues security alert ahead of #FreeNnamdiKanuNow protest in Abuja

Sowore and several others were seen scampering for safety as the area was engulfed in smoke, while eyewitnesses described the scene as chaotic.

Despite the disruption, the protesters vowed to continue their agitation until Kanu regains his freedom.

Watch Video Below

Akpabio not a killer, former lawmaker declares

Mr Nse Ntuen, a former Akwa Ibom house of assembly member ( Essien Udim) says allegations leveled against Senate President, Godswill Akpabio, as a killer is false.

Ntuen in a statement in Uyo on Sunday, said the allegation is baseless.

He described the claims circulated by Akpabio’s sister-in-law, Mrs Patience Akpabio, as malicious, and inconsistent with both the character and public record of Akpabio, haven known him for more than 50 years.

Ntuen, also a former chairman of Essien Udim Local Government Area of Akwa Ibom, Akpabio’s council of origin, said the allegation, which had no basis, is steeped in personal bitterness and deliberate mischief rather than in any verifiable fact or credible grievance.

“We must never allow a culture of reckless falsehood to replace dialogue and truth. These claims are not merely offensive; they represent a conscious attempt to erode the dignity of honest leadership and to sow unnecessary discord among a people united by shared history and respect,” Ntuen said.

Read Also: Akpabio not hospitalised, hale and hearty in London – Gbenga Daniel

Ntuen aligned himself with the recent resolution of the Greater Akpabio Family, which unanimously expressed confidence in the senate president and reaffirmed the family’s unbroken unity.

He added that the statement by the family, being the most authoritative voice on domestic matters of this nature, has settled the issue firmly and should be respected as such.

“These spurious attacks are not only affronts to Akpabio’s person but also to the collective reputation of Essien Udim and by extension, Akwa Ibom and Nigeria,” he said.

He described the allegation as distractions, especially now that the senate president is leading the National Assembly in charting legislative frameworks for economic recovery and national renewal.

“It is disappointing that anyone would choose to distract public attention with malicious fiction and self aggrandisement.

“The public is therefore, advised to disregard such falsehoods, which serve no purpose other than to inflame passions and divert focus from meaningful governance,” he said.

He commended Akpabio for remaining calm and self-restraint in the face of provocation, describing it as evidence of both personal strength and political maturity.

He reaffirmed his loyalty to Gov. Umo Eno’s vision of peace and inclusive governance and his continued support for Akpabio as a son of Akwa Ibom.

“We stand with our leader, our brother, and our pride. Those who traffic in falsehood will find that truth is patient but enduring.

“The focus now must remain on the great task of nation building, to which Akpabio continues to dedicate himself with calmness, clarity and conviction,” he said.

(NAN)

Osinbajo leads ECOWAS election observation mission to Cote d’Ivoire

The Economic Community of West African States (ECOWAS) has appointed Nigeria’s former Vice President, Prof. Yemi Osinbajo, to lead its Election Observation Mission to the upcoming presidential election in Côte d’Ivoire.

ECOWAS Secretariat announced this in statement made available to newsmen on Sunday in Abuja.

The election is scheduled for Oct. 25.

Read Also: ECOWAS Bank approves €174m for investment, $125m to boost trade

The mission will be deployed from Oct. 19 to Oct. 29 in line with the provisions of the ECOWAS Supplementary Protocol on Democracy and Good Governance.

As Head of Mission, Osinbajo will lead a team of eminent West Africans tasked with engaging key national stakeholders to support a peaceful and credible electoral process.

The team will also engage stakeholders towards fostering cooperation with other international and domestic observer groups, and assessing the conduct of the polls.

The deployment of this Observation Mission underscores ECOWAS’s unwavering commitment to promoting peace, stability, and credible elections in the sub-region.

(NAN)