Business
Nigeria missing among top four African economies sustaining industrialisation – Report
The RED Index identifies that Morocco, Egypt, South Africa and Mauritius emerge as the only economies with the alignment required to sustain industrial growth.
Image credit : BCAfrica.
The Business Council for Africa (BCA) has released its 2025 RED Index of Industrial Development in Africa.
In the report, only four African economies are structurally positioned to sustain high-growth industrialisation.
The RED Index identifies that Morocco, Egypt, South Africa and Mauritius emerge as the only economies with the alignment required to sustain industrial growth, while Rwanda and Nigeria show meaningful progress but remain incomplete in their trajectory.
The report further indicated that the majority of African economies are classified as either vulnerable or stalled.
The Index evaluates each economy across three decisive dimensions: Engines of Industrialisation, representing foundational capabilities; Accelerators, determining the pace of transformation; and Decelerators, the structural constraints that can stall or reverse progress.
Commenting on the report, Chairman of the Business Council for Africa, Arnold Ekpe said:“This is not just an index. It is a call to action for African policymakers, investors, and businesses to take ownership of Africa’s industrial future and commit to the structural changes required to deliver sustained growth.
”As global capital seeks scalable and resilient growth opportunities, the RED Index provides a lens for identifying where industrialisation is viable, where structural risks remain elevated and where targeted intervention can unlock long-term.”
Business
Afreximbank wooing Nigeria’s rising culinary stars for participation in 2026 CANEX Junior Chef Competitions
The competition invites Nigeria’s most promising junior culinary talents, aged 16 to 21, to showcase their creativity, technical skills, and cultural storytelling at the CANEX WKND 2026, set to hold from 5 to 8, November 2026, in Lagos, Nigeria.
Photo: Winners of the CANEX Junior Chef Competition display their prizes during IATF2025 in Algeria.
The African Export-Import Bank (Afreximbank), through its Creative Africa Nexus (CANEX) programme, has opened applications for the 2026 edition of the CANEX WKND 2026 Junior Chef Competition.
The competition invites Nigeria’s most promising junior culinary talents, aged 16 to 21, to showcase their creativity, technical skills, and cultural storytelling at the CANEX WKND 2026, set to hold from 5 to 8, November 2026, in Lagos, Nigeria.
Now in its second edition, the competition builds on the landmark debut in Algiers, Algeria, during IATF2025, with Fatma Zohra Bendjelida crowned the inaugural winner.
This year, the spotlight turns to Nigeria’s next generation of culinary talents.
Eight aspiring young chefs will earn their place on the live stage at CANEX WKND in Lagos, where they will transform African culinary heritage into bold, signature creations; making dishes that honour the flavours, traditions, and stories of the continent while presenting a fresh, fearless voice in African gastronomy.
Business
Tech giant Oracle cuts 21,000 jobs as it embraces AI
The software and cloud computing firm says it had around 141,000 full-time employees as of 31 May 2026, down from about 162,000 workers at the same time last year.
Photo: Oracle co-founder Larry Ellison/ Getty images
Oracle shed about 21,000 roles globally in the last year as the US technology giant reshapes its business around artificial intelligence (AI), the firm’s latest annual report shows.
The software and cloud computing firm says it had around 141,000 full-time employees as of 31 May 2026, down from about 162,000 workers at the same time last year.
The “deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce,” the report says.
The cuts, which amount to about 13% of Oracle’s workforce, are part of a wider trend among tech firms as they spend hundreds of billions of dollars on building AI infrastructure like data centres.
Business
Dettol apologises after ad to clean up ‘toxic men’ backfires in China
The advert sparked an uproar on the Chinese internet, with some users saying it objectifies women and others calling for a boycott of the brand.
British hygiene brand Dettol has apologised for an advert in China that it claims was meant to call out sexism, but has instead backfired.
The five-minute long advert for a multipurpose disinfectant, styled like a micro drama, starts out with a man looking for a partner who is “clean” and “not tainted by other men”.
A plot twist comes late in the advert when his new girlfriend calls him out for his misogyny and breaks up with him. Dettol is then presented as the solution against “toxic men [who] are just like bacteria”.
The advert sparked an uproar on the Chinese internet, with some users saying it objectifies women and others calling for a boycott of the brand.
Dettol said the advert, which has been removed following the backlash, was intended to criticise gender stereotypes, but that snippets of it that later circulated online distorted its core message.
“We recognise that it has offended many people, especially women. We take responsibility for any negligence in creating and reviewing the content of the advert,” Dettol said in a statement on Monday.
The company also said it would review its content moderation processes.
( BBC)
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