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
Exchange Rates Today Friday, 12 June
Black Market Rates
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Black Market Rates
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Business
Airtel launches data calculator to counter depletion complaints
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.
Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.
Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.
“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.
The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.
Business
Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.
The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.
Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.
He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.
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