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President Faye has been recognised for his exceptional leadership, unwavering commitment to democratic governance, and strategic economic reforms that have significantly strengthened Senegal’s role in Africa’s socio-economic development. His administration’s focus on infrastructural development, youth empowerment, and regional stability has positioned Senegal as a model for progressive governance on the continent.

The African Leadership Magazine Persons of the Year (POTY) Ceremony is an annual flagship event that brings together policymakers, business leaders, civil society actors, and thought leaders from across Africa and beyond. The event serves as a platform to celebrate outstanding African leaders who are making significant contributions to the continent’s growth and development.

The 14th edition of the event also honoured other distinguished leaders, including:

• H.E. Andry Rajoelina, President of Madagascar
• Professor Charles Anosike, Director General of the Nigerian Meteorological Agency (NIMET), Nigeria
• Rt. Hon. Robinah Nabbanja, Prime Minister of Uganda
• H.E. Douye Diri, Governor of Bayelsa State, Nigeria
• Dr. Jane Ruth Aceng Ocero, Minister for Health, Uganda
• H.E. Fardowsa Osman Egal, Minister for Transport & Civil Aviation, Somalia
• Hon. Nani Juwara, Minister of Petroleum, Energy & Mines, The Gambia
• H.E. Rindra Rabarinirinarison, Minister of Economy and Finance, Madagascar
• Hon. Augustine Kpehe Ngafuan, Minister of Finance and Development Planning, Liberia
• Hon. Lefoko Maxwell Moagi, Former Minister of Minerals and Energy, Botswana
• Dr. Armstrong Takang, Managing Director of the Ministry of Finance Incorporated (MOFI), Nigeria
• Mr. Mustafa Y. Shek, Director General of the National Communication Authority, Somalia

Prominent business leaders, including Dr. Seinye O.B. Lulu-Briggs, Executive Chairman of Moni Polu Limited, and Olusegun Alebiosu, Managing Director/CEO of FirstBank Group, Nigeria, were also in attendance.

The event attracted high-profile delegates from across Africa, including Ethiopia, Nigeria, Madagascar, Angola, Uganda, South Sudan, Zimbabwe, Congo, Cape Verde, Botswana, South Africa, and Kenya, highlighting the pan-African significance of the awards.

For media enquiries or further information, please contact:

The Group Editor
King Richard Igimoh
editor@africanleadership.co.uk,
king.richards@africanleadership.co.uk

About African Leadership Magazine

The African Leadership Magazine, the flagship publication of the African Leadership Organisation (UK) Limited, has been dedicated to promoting impactful leadership in Africa for over 16 years. Through high-quality Afro-positive content, public sector training, and consulting, the magazine plays a crucial role in showcasing Africa’s success stories, driving positive change, and shaping the continent’s future.

The post Senegal’s President Bassirou Faye Wins African of the Year at 14th ALM POTY 2025 appeared first on African Leadership Magazine.

Current Progress and Opportunities

The hotel development landscape across Africa has undergone significant changes, positioning the continent as a focal point for global hotel growth. With revenues from hotels alone hitting US$12 billion in 2024, the sector is fast becoming the principal driver of Africa’s hospitality industry. Recent reports indicate that African hotels are set to host 120 million visitors by 2030, showcasing the growing interest in African tourism.

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Hotel chains, both local and international, are expanding their footprints on the continent. A comprehensive report by W Hospitality Group highlights hotel development activity across all 54 African nations, capturing the increasing interest in both established and emerging markets. West Africa, in particular, is leading the way, with 14 of its 18 countries experiencing significant development activity. This growth reflects a confluence of factors such as rising demand from a burgeoning middle class, improved infrastructure, and a mix of cultural authenticity with modern amenities that appeal to both leisure and business travellers.

Challenges Facing the Industry

Africa’s hospitality sector, while advanced, continues to grapple with certain difficulties. The continent grapples with economic difficulties, political instability, and occasional natural disasters, all of which can tarnish perceptions and deter potential visitors. Furthermore, the presence of adverse media coverage often exaggerates political unrest in certain regions, leading to a generalized mistrust that impacts tourism. Addressing these issues remains paramount to dispelling myths and promoting Africa as a safe and desirable travel destination.

Strategies for Improvement

To elevate the business of hospitality across Africa, a multi-faceted approach is essential:

1. Strengthening Infrastructure: Continued investment in transport, communication, and utilities is crucial to facilitate smoother travel experiences for visitors. Enhanced connectivity via airports and roads can significantly improve accessibility to travel hotspots.

2. Promoting Cultural Heritage: Leveraging the rich cultural narratives and historical contexts that various African countries offer can attract niche markets, such as cultural tourism enthusiasts, who seek authentic experiences.

3. Investing in Training and Development: Improving service quality through training programs can elevate guest experiences significantly. Investing in local talent fosters a sense of ownership and pride, enhancing the on-ground experiences that hotels provide.

4. Encouraging Sustainable Practices: As global travellers become more environmentally conscious, embracing sustainable practices—such as eco-friendly operations, community engagement, and conservation efforts—can set African hotels apart and earn them favour among modern consumers.

5. Collaboration and Partnerships: A collaborative effort between governments, private investors, and local communities can lead to strategic tourism initiatives that boost shared interests and yield mutual benefits.

The Future: A Bright Horizon for African Hospitality

Looking to the future, Africa’s hospitality sector is positioned for a renaissance that can place the continent on the global tourism map. With targeted efforts to address challenges and leverage opportunities, Africa can emerge as a premier destination for hospitality and tourism. The blend of modern amenities with vibrant cultural experiences may well redefine what visitors expect from their travels.

As the continent continues to build on its successes, fostering innovation in service delivery, environment sustainability, and infrastructure investment can amplify its appeal. Africa is set to become a pivotal player in the global hospitality domain, inviting travellers from across the world to explore its diverse offerings. By recognizing and investing in these areas, Africa’s hospitality scene will flourish, ready to showcase not just the raw beauty, but the rich lifestyle bliss that the continent has to offer.

The post Africa’s Hospitality Industry Grows to Global Heights appeared first on African Leadership Magazine.

M-Pesa: Revolutionising Financial Inclusion

Launched in 2007, M-Pesa revolutionised financial inclusion in Kenya and later expanded across East Africa. What began as a simple money transfer service has since evolved to allow payments, savings, and even loans. By bypassing the need for traditional banking infrastructure, M-Pesa has empowered millions, especially in rural and underserved areas, providing access to financial services.

READ ALSO: CSR on Rural Development and Poverty Alleviation in Africa

Impact on Poverty: Over 50 million users now rely on M-Pesa, with studies showing that it has helped lift approximately 2% of Kenyan households out of extreme poverty, primarily through better access to money transfers, loans, and business expansion. By offering a platform for financial empowerment, M-Pesa has had a profound effect on economic mobility.

Harnessing Renewable Energy: Rwanda’s Solar Power Revolution

Rwanda’s Gigawatt Global solar project is one of the continent’s largest solar fields, providing renewable energy to thousands of homes and businesses in rural areas. This initiative is part of Rwanda’s broader strategy to ensure affordable and sustainable energy for its population.

Impact on Poverty: Increased access to electricity has opened up new economic opportunities, from supporting small businesses to improving the quality of education and healthcare. With power now available, rural populations can engage in productive activities that were previously unattainable, helping to reduce poverty and improve living standards.

Revolutionising Education: Digital Learning Platforms

Eneza Education

Eneza Education, an edtech initiative based in Kenya and Ghana, offers accessible mobile learning platforms that deliver educational content via basic mobile phones. This has become a lifeline for children in remote areas where traditional schools may not be an option.

Impact on Poverty: By providing students in underserved areas with study materials, quizzes, and interactive lessons, Eneza Education is improving literacy and numeracy. Better education translates into better job opportunities, creating a ripple effect that helps to reduce poverty.

Agricultural Innovation: Empowering Farmers

Hello Tractor in Nigeria

Agriculture remains the backbone of many African economies, but many smallholder farmers struggle with outdated methods and a lack of access to modern equipment. Hello Tractor, dubbed the “Uber for Tractors,” connects small-scale farmers with tractor owners, allowing them affordable access to mechanised farming.

Impact on Poverty: By improving the efficiency of farming, Hello Tractor boosts agricultural productivity, enabling farmers to increase yields and income. This innovation not only improves food security but also supports rural economic growth, contributing significantly to poverty reduction.

Tackling Urban Challenges: Wecyclers in Lagos, Nigeria

Wecyclers is a social enterprise in Lagos that addresses waste management while providing income opportunities to low-income residents. Using a rewards-based system, residents earn points by collecting and recycling waste. These points can be redeemed for household goods, creating economic incentives to participate in waste management.

Impact on Poverty: Wecyclers’ model empowers communities by creating job opportunities and improving environmental health. This contributes to poverty alleviation by enhancing community welfare, providing access to resources, and fostering entrepreneurship.

Health Innovations: Zipline in Ghana and Rwanda

Zipline operates drones to deliver medical supplies to remote areas where infrastructure challenges make traditional delivery methods unreliable. The company has made thousands of deliveries of essential medical items such as blood and vaccines, saving lives and improving health outcomes.

Impact on Poverty: By improving healthcare access, Zipline helps mitigate the economic devastation caused by illness. A healthier population is more productive, contributing to economic growth and reducing the financial strain on families and communities.

The African Regional Data Cube (ARDC)

The African Regional Data Cube initiative uses satellite data to track environmental changes, including agricultural trends, water resources, and deforestation. This data is used by governments, NGOs, and businesses to make informed decisions about resource management and policy.

Impact on Poverty: By providing insights into agricultural performance, water availability, and climate change, ARDC helps optimise resource allocation. Data-driven policies tackle the root causes of poverty, ensuring resources are used effectively to uplift communities.

Challenges and the Path Forward

While the successes highlighted here are promising, Africa still faces significant challenges that hinder the broader impact of these innovations. Infrastructure gaps, limited access to capital, and the digital divide remain persistent barriers to scaling solutions. Governments, NGOs, and the private sector must work together to bridge these gaps, ensuring that innovation reaches the most vulnerable populations.

Initiatives like the African Continental Free Trade Area (AfCFTA) offer an exciting opportunity for cross-border cooperation, enabling knowledge sharing and scaling successful projects across the continent. Likewise, increasing investment in education, infrastructure, and technology will help Africa sustain and amplify these innovations.

A Future Fuelled by Innovation

Innovation is undoubtedly transforming Africa, not just by addressing immediate needs but also by creating long-term solutions that uplift entire communities. The case studies discussed show that even indirect innovations—those that enhance access to services like finance, energy, education, and healthcare—are critical in breaking the cycle of poverty. As Africa continues to innovate, the continent addressing poverty and building a future where prosperity and opportunity are within reach for all.

The post Reducing Poverty Through Innovation in Africa appeared first on African Leadership Magazine.

Already, there are signs of change. According to the African Development Bank, Africa’s exports are diversifying, and regions once marginal in the global market are becoming increasingly significant. In fact, Africa’s export growth is expected to outpace the global average, particularly in sectors such as mining, agriculture, and even technology. For African leaders, the issue isn’t whether these shifts will occur—they already are—but how to ensure that the continent fully benefits from these changes.

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One of the most exciting developments in Africa’s trade future is the African Continental Free Trade Area (AfCFTA), which is already starting to reshape how African nations engage with one another. By 2025, intra-African trade is projected to rise by over 50%, unlocking new markets and opportunities for African businesses.

The AfCFTA is on track to be Africa’s most influential tool for economic integration. Through the reduction of tariffs and trade barriers, it is fostering deeper connections between African nations, with the potential to increase the continent’s economic output by US$450 billion by 2035. This has far-reaching implications, especially for key industries like agriculture, manufacturing, and services. But this opportunity won’t materialise on its own.

Diversifying Export Markets Beyond Traditional Partners

Traditionally, Africa has relied heavily on the European Union (EU) and the United States for its exports. However, the winds of change are blowing. African nations are increasingly diversifying their export markets to reduce dependency on these traditional partners.

One such example is the growing trade relationship between West Africa and the EU, especially in agricultural products like wheat. As European wheat exports shift toward the region, it signals a broader trend of market diversification that is essential for Africa’s future growth. Meanwhile, China’s expanding role as one of Africa’s top trading partners is further evidence that the continent’s export destinations are evolving rapidly.

For African leaders, this diversification presents both a challenge and an opportunity: how to build a more balanced export portfolio that reduces vulnerabilities to shifts in global markets. The emerging markets of Asia, Latin America, and even the Middle East are ripe for exploration.

Adapting to Global Climate Regulations

One of the most profound shifts in global trade is the growing influence of climate policies. The European Union’s Carbon Border Adjustment Mechanism (CBAM), for example, is set to impose tariffs on carbon-intensive goods from countries that do not meet certain environmental standards. This policy will have a direct impact on African exports, especially in industries like mining, energy, and manufacturing.

However, rather than viewing these regulations as a burden, African leaders should see them as an opportunity to adopt more sustainable practices and green technologies. The move towards sustainability in global trade is accelerating, and African countries that position themselves as leaders in this space could reap significant benefits. South Africa, for instance, is already deepening its trade ties with both Africa and China to mitigate the effects of these policies.

Investing in green technology and sustainability will not only enhance Africa’s competitiveness but also ensure that the continent can meet the growing demands of environmentally-conscious consumers and markets.

Ways African Leaders Can Prepare for Trade Opportunities

1. Leverage AfCFTA to Build Stronger Regional Markets
With intra-African trade projected to grow by 52.3% by 2025, leaders must prioritise regional integration. Creating a robust trading environment within Africa will be crucial to maintaining economic stability and fostering sustainable growth.
2. Expand into Emerging Markets
The future of Africa’s exports lies in diversifying its market base. Engaging with rapidly growing markets in Asia, Latin America, and the Middle East will reduce Africa’s dependency on traditional trade partners and open up new avenues for growth.
3. Embrace Green Technologies for Global Competitiveness
Global climate policies are increasingly shaping trade, and Africa has an opportunity to lead in sustainable industries. By investing in green technologies and aligning with international environmental standards, African exporters can secure long-term access to key markets.
4. Strengthen Trade Infrastructure
The future of Africa’s exports depends on effective infrastructure. Governments must prioritise investments in transport, logistics, and digital technologies to make cross-border trade faster, more efficient, and more cost-effective.
5. Enhance Public-Private Partnerships
Collaborations between governments and businesses are essential for creating an export-friendly environment. Through these partnerships, African nations can drive innovation, improve financing options, and scale up exports in key sectors.

The Future in Focus

The global trade system in 2025 will look vastly different from previous years, and Africa will need to play a much more extensive role. While the data paints an optimistic picture—rising intra-African trade, diversification into emerging markets, and the promise of green technologies—these opportunities will only be realised through decisive leadership.

This is not a moment for passive observation but for proactive engagement. Bold, forward-thinking strategies that embrace collaboration across borders, investment in sustainable industries, and a sharp focus on emerging trade corridors. The decisions made by African policymakers, business leaders, and innovators today will determine whether the continent thrives in the coming trade era or struggles to keep up with rapidly changing global dynamics.

The post Global Trade Shifts on Africa’s Export Markets: What Leaders Need to Know appeared first on African Leadership Magazine.

Celebrating Natural Beauty in Africa

Campaigns such as #MelaninMagic, #BlackIsBeautiful and natural skincare trends have gained significant traction on social media, providing both a platform for self-expression and a celebration of darker skin tones that have historically been marginalised. These movements encourage African women to embrace their unique qualities, fostering pride that rejects Eurocentric ideals.

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Prominent figures like Genevieve Nnaji, the Nigerian filmmaker and actress, and Thando Hopa, a South African model and human rights lawyer, exemplify this shift. Nnaji’s film productions often highlight African culture and heritage, while Hopa’s advocacy for representation in fashion challenges conventional norms and reflects the complexities of African beauty. Their visibility not only challenges media portrayals but also serves as inspiration for women across the continent to value their identities.

Boosting Local Industries

The growing wave of self-acceptance has also led to the rise of local beauty brands that cater specifically to African skin and hair types. These companies are not only competitors in the global market but are redefining what beauty products should be by utilising indigenous ingredients and traditional knowledge. Brands like Shea Moisture and Nairobi, for instance, offer products that resonate with local consumers while supporting artisans and the economy.

Leaders and businesses have a crucial role to play in this transformation. By investing in the traditional fashion and beauty sectors, they can amplify local voices. Initiatives such as sponsoring African fashion weeks or hosting beauty expos create valuable platforms for local designers and influencers to showcase their talents.

The Role of Media in Shaping Perceptions

Media representation is pivotal in promoting the narrative of African beauty. Local television shows increasingly feature heritage hairstyles, skin tones, and beauty rituals that reflect authentic African aesthetics. Programmes such as Hairitage in South Africa celebrate natural Afro-textured hair, promoting broader acceptance of diverse looks.

To enhance this movement, global media should prioritise authentic storytelling. Rather than relying on outdated stereotypes, media companies must engage with local communities to produce content that reflects the richness of African culture. By showcasing diverse narratives, global media can foster a deeper understanding and appreciation of Africa’s multifaceted beauty.

Educating for Change

Despite the progress being made, challenges remain, notably in countering the lingering influences of Eurocentric beauty standards. According to a survey by the Dove Self-Esteem Project, nearly 50% of girls aged 10-17 feel pressured by toxic beauty ideals on social media. It is crucial to counteract this narrative through education and awareness-raising campaigns that promote body positivity and self-acceptance.

Moreover, social media platforms can play a more active role in promoting diverse beauty standards. By supporting campaigns that uplift African beauty narratives and curating content that showcases a variety of body types, skin tones, and cultural practices, these platforms can help challenge harmful standards and empower users.

The Path Forward: Embracing Authenticity

Africa is a continent rich in cultural diversity, and the rejection of Western beauty standards is not merely a trend but a necessary cultural renaissance. This movement towards embracing traditional aesthetics is about more than just beauty; it is a reclamation of identity, heritage, and self-worth.

As African women continue to challenge Eurocentric standards, it is vital for leaders, businesses, and global media to support this important work. Investing in local industries, amplifying authentic narratives, and promoting education and awareness around beauty standards will contribute to a more inclusive definition of beauty—one that not only celebrates African women but also resonates globally.

By embracing the uniqueness of their culture and rejecting imposed ideals, African women are taking significant strides towards reshaping the global conversation about beauty, paving the way for future generations to celebrate their individuality. This movement serves as a powerful reminder that beauty is diverse, profound, and deeply personal.

The post Redefining African Beauty Standards with Natural Skincare Trends appeared first on African Leadership Magazine.

The 95-95-95 Targets and Success

The 95-95-95 targets, established by UNAIDS, aim for 95% of all people living with HIV to know their status, 95% of those diagnosed to be on antiretroviral therapy (ART), and 95% of those on treatment to achieve viral suppression. These goals form a cornerstone of the global strategy to end the HIV/AIDS epidemic by 2030.

READ ALSO: Africa’s Achievements in the War Against HIV/AIDS

In 2020, Eswatini exceeded these targets. Data indicates that 94% of adults (15 years and older) living with HIV are aware of their status. Of these, 97% are receiving antiretroviral therapy, and 96% of those on treatment have achieved viral suppression. This marks a significant milestone for a nation that once had the world’s highest HIV prevalence rate.

Driving Factors Behind the Achievement

The government of Eswatini prioritised its HIV/AIDS response within health policy, allocating substantial resources and implementing evidence-based strategies to foster an environment conducive to achieving the 95-95-95 goals. Key measures included:

• Strengthening healthcare infrastructure.
• Expanding access to free HIV testing and treatment services.
• Integrating HIV/AIDS services with other healthcare programmes.

Community Engagement

Community-driven initiatives played an essential role in this success. Non-governmental organisations (NGOs) and community health workers worked relentlessly to reduce stigma, increase awareness, and promote HIV testing and treatment adherence. Educational campaigns tailored to local contexts amplified the impact of these efforts.

International Support

Eswatini’s success was further reinforced by international partnerships. The Global Fund to Fight AIDS, Tuberculosis, and Malaria, alongside PEPFAR (the U.S. President’s Emergency Plan for AIDS Relief), provided crucial financial and technical support, ensuring a steady supply of ART and capacity-building for healthcare workers.

The Broader Impact

Eswatini’s achievement illustrates the transformative potential of targeted public health interventions. With fewer AIDS-related illnesses, the country has seen increased productivity and reduced healthcare costs, benefiting its economy. On a social level, greater public awareness and reduced stigma have enhanced community resilience, paving the way for broader societal progress.

Challenges Ahead

While Eswatini’s success is commendable, sustaining these gains requires continuous investment. Emerging challenges, such as drug resistance and complacency in prevention efforts, must be addressed. Expanding prevention strategies, including pre-exposure prophylaxis (PrEP) and targeting high-risk populations, remains critical.

A Model for the World

Eswatini’s story is a testament to what can be achieved through strong political will, community involvement, and international collaboration. As other countries strive to meet the 95-95-95 targets, Eswatini stands as a beacon of hope and a model for achieving public health milestones.

Eswatini’s groundbreaking achievement in the global fight against HIV/AIDS highlights the power of concerted action and serves as an inspiration to nations worldwide. By maintaining momentum and addressing emerging challenges, Eswatini is well-positioned to lead the way towards ending AIDS as a public health threat by 2030.

The post Eswatini’s HIV/AIDS Management: A Global Public Health Success Story appeared first on African Leadership Magazine.

What Draws Visitors to Morocco?

Morocco offers a captivating mix of ancient traditions and modern allure. The country boasts a wide array of attractions, from the lively souks of Marrakesh to the tranquil sands of the Sahara Desert. Visitors are also drawn to its UNESCO World Heritage sites, such as the medinas of Fez and the kasbahs of Ouarzazate, each offering a glimpse into Morocco’s rich history.

READ ALSO: Africa’s Hidden Gem: Strategies for Promoting Intra-African Tourism

Tourism officials attribute the rise in visitor numbers to strategic initiatives aimed at boosting Morocco’s international appeal. Investments in infrastructure, improved air connectivity, and a focus on safety have made the country more accessible to travellers around the world.

Economic Impact

Tourism revenue in Morocco has reached $11.4 billion in 2024, a 9% increase from the previous year. The sector contributes approximately 7.8% to Morocco’s total workforce, with over 827,000 jobs linked to tourism. The economic benefits are felt across various industries, including hospitality, transportation, and crafts, which strengthens the backbone of Morocco’s economy.

The Road to 2030

Morocco aims to further cement its position as a leading global destination with an ambitious goal of attracting 26 million tourists annually by 2030. This vision includes enhancing the country’s diverse tourism offerings, from water sports and desert adventures to culinary tours and eco-tourism initiatives.

The journey to this milestone is not just about reaching target numbers but about positioning Morocco as a seamless blend of innovation and heritage. The government’s efforts reflect a strong commitment to sustainable tourism, ensuring that the influx of visitors does not compromise the environment or local culture.

Morocco’s Global Appeal

The record-breaking visitor numbers also underscore Morocco’s growing popularity in emerging markets, particularly in Asia and Latin America. Strategic partnerships and targeted marketing campaigns in these regions have enhanced Morocco’s global presence. Additionally, the country’s hosting of major international events, such as the FIFA Club World Cup and various cultural festivals, continues to draw a global audience.

As Morocco celebrates this tourism achievement, it also reflects the country’s resilience. Recovering strongly from the pandemic, the country has not only surpassed pre-COVID visitor numbers but has also set new, higher goals for the future. The tourism sector is no longer just an economic contributor but a symbol of Morocco’s identity on the world stage.

The post Morocco Sets Tourism Record with 15.9 Million Visitors appeared first on African Leadership Magazine.

However, ongoing efforts in enhancing financial integrity are yielding positive results. Several challenges still hinders advancements in combating illicit bank notes, but the continent is actively addressing these issues through innovative solutions and regional cooperation.

The African Continental Free Trade Area (AfCFTA) agreement, effective from 2021, has provisions aimed at combating trade-based illicit financial flows by promoting greater transparency in trade and customs operations across member states. This agreement aims to reduce the flow of illegal funds and strengthen regional economic cooperation.

The West African Regional Action Plan, coordinated by the Economic Community of West African States (ECOWAS), addresses issues like trade misinvoicing and tax evasion through enhanced regional cooperation and standardization. This plan is a key initiative to combat financial crimes and promote a more stable and prosperous region.

Curbing IFFs, according to UNCTAD, could almost halve the $200 billion annual financing gap Africa faces to achieve the Sustainable Development Goals (SDGs).

In Nigeria, the Central Bank of Nigeria has introduced polymer banknotes with advanced security features, resulting in a 15% decrease in counterfeit currency in circulation since their introduction.

In Kenya, digital technology is being leveraged to enhance currency tracking and prevent the circulation of fake money. A digital cash tracking system aims to improve transparency and traceability, making it easier to detect and eliminate counterfeit notes.

Ghana’s Bank of Ghana has implemented new security measures on its currency, including sophisticated printing technologies and public education campaigns to raise awareness about counterfeit detection. These efforts aim to strengthen the country’s anti-counterfeiting framework and protect its financial system from illegal activities.

Areas of Improvement

Africa still urgently needs to improve its approach to combating illicit financial flows. The secrecy surrounding illicit financial flows fuels corruption and weakens governance structures. When funds are moved illicitly, it becomes challenging for authorities to trace and prosecute the offenders. This creates a vicious cycle where corruption becomes entrenched, further eroding public trust and undermining democratic institutions.

The diversion of financial resources impacts key development sectors. Education and healthcare suffer as governments struggle to fund critical sectors. The lack of investment in these areas hinders human capital development, perpetuating poverty and stifling economic opportunities for millions.

According to the Economic Development in Africa Report 2020 by the UN Conference on Trade and Development (UNCTAD), Africa loses about US$88.6 billion, or 3.7 percent of its gross domestic product (GDP), annually in illicit financial flows.

The African Union estimates that Africa loses around $90 billion every year, which encompass a range of illegal financial transactions, including trade misinvoicing, corruption, and criminal activities. This significant loss has severe implications for the continent’s economic development.

According to a Global Financial Integrity report, trade misinvoicing alone has resulted in a staggering cumulative loss of approximately $1.3 trillion for African countries between 2000 and 2021. This practice involves falsifying trade documents to evade taxes or hide illegal profits, highlighting the need for strengthened anti-money laundering and anti-corruption measures to combat this issue.

In South Africa, the problem persists, with the South African Reserve Bank reporting a 20% increase in counterfeit currency seizures in 2023 compared to the previous year despite ongoing efforts to combat counterfeiting.

The South African Reserve Bank (SARB) reported that South Africa experienced significant IFFs, with around $5 billion being illegally moved out of the country yearly through various channels.

READ ALSO: Green Bonds and Sustainable Finance in African Markets

A 2023 report by the National Bureau of Statistics found that Nigeria loses approximately $15 billion every year, primarily from oil sector corruption and trade misinvoicing.

Sub-Saharan Africa has become a commercially significant market. However, bribery and corruption risks are deterring higher rates of investment and the ability of companies doing business in Africa to conduct business fairly on a level playing field. The AFDB estimates that USD 148 billion is still lost to corruption in Africa every year.

To combat illicit financial flows in Africa, a comprehensive approach is needed, involving regional cooperation, national reforms, international collaboration, technological innovation, and capacity building. Building on the progress made so far, these efforts are necessary to address the underlying causes of IFFs.

The post The Battle Against Illicit Financial Flows in Africa appeared first on African Leadership Magazine.

Despite often being overshadowed by governmental and private sector initiatives, NGOs and CSOs make multifaceted and profound contributions to Africa’s socio-economic progress. They advocate for human rights, gender equality, and environmental sustainability, influencing policy decisions at local, national, and regional levels. NGOs are contributors to the redistribution and transformation of necessary longer-term solutions that tackle the causes of socio-economic problems

Some of the functions and roles of NGOs and CSOs play in Africa are as follows:

Advocacy and Policy Influence: NGOs and CSOs in Africa have served as advocates for critical policy reforms and implementation across the continent. These organisations mediate the sufferings of the people; at local, national, and regional levels to those at the corridors of power. They advocate for human rights, gender equality, and environmental sustainability. They influence policy decisions that shape intra-African trade, governance, and development strategies.

Community Development and Empowerment: These organizations bring about initiatives that directly impact communities across Africa on the grassroot level. From healthcare and education to agriculture and infrastructure development, NGOs and CSOs assist local populations in improving living conditions. NGOs and CSOs through training programs, workshops, and skill development initiatives offer capacity building and enhance the capabilities of people, community leaders, and institutions at the grassroot.  The Centre of Economic and Leadership Development (CELD) and its Skills Acquisition Trainings initiative in Rivers State, Nigeria, is one of many empowerment initiatives carried out by these organisations.

Promotion of Peace and Conflict Resolution: NGOs and CSOs have been very crucial in promoting peace and humanitarian aid in regions affected by conflict and instability. They have helped facilitate peacebuilding and reconciliation efforts in war and security-sensitive regions facilitating dialogue among conflicting parties, promoting tolerance, and supporting initiatives for post-conflict reconstruction.

Accountability and Transparency: NGOs and CSOs have acted as watchdogs, monitoring government policy formulation, and actions, holding authorities accountable for flouting their commitments to development goals and human rights. They promote transparency, good governance, and the rule of law, for the benefit of African communities.

Collaboration and Networking Across Border: NGOS and CSOs bring about cross-border cooperation among African countries. This is actualized by creating regional networks and partnerships with institutions, governmental bodies and individuals aimed at bolstering regional integration. The CELD annual South America – Africa – Middle East – Asia Women Summit (SAMEAWS) is one of these networks that brings together key stakeholders to demonstrate the role of women to the future of global economics.

Innovation and Technology Advancement: Through their partnerships and networks, NGOs and CSOs leverage innovation and technological advancements in a bid to address the challenges in Africa. Digital technology and climate-friendly innovations in areas like; agriculture, healthcare, education, and environmental conservation bring about sustainable development across the African continent.

NGOs and CSOs are pivotal players in the development of African and have been very influential in attaining the heights that the continent has achieved so far. Through their contributions, people at the grassroot have been given opportunities at better lives. Their efforts have complimented the efforts of governments and bridged the gaps in the service delivery and policy implementation across Africa. Their position in the growth of Africa remains pivotal in fostering inclusive growth, resilience, and prosperity across the continent

The post Role of NGOs and Civil Society Organizations in Intra-African Development appeared first on African Leadership Magazine.

H.E. Olavo Avelino Garcia Correia, Deputy Prime Minister of Cape Verde, has been honoured with the prestigious title of African Finance Minister of the Year. This accolade, presented at the 14th African Business Leadership Awards (ABLA) 2024 by African Leadership Magazine, recognises H.E. Correia’s exemplary stewardship and significant contributions to economic policy and financial management in Cape Verde and across Africa.

H.E. Olavo Avelino Garcia Correia is widely acclaimed for his strategic vision and leadership in promoting economic growth, fiscal responsibility, and financial stability in Cape Verde. His policies have bolstered investor confidence, stimulated economic diversification, and fostered sustainable development across the nation.

The African Leadership Magazine annually celebrates leaders who demonstrate exceptional commitment and achievements in advancing economic prosperity and financial governance in Africa. H.E. Correia’s receipt of the African Finance Minister of the Year award underscores his profound impact and leadership in the financial sector.

The award ceremony was a highlight of the ALM Africa Summit London 2024, a premier gathering of African and global leaders focused on driving economic development and fostering strategic partnerships across continents. The summit provided a pivotal platform for high-level networking, collaboration, and dialogue on advancing sustainable development goals in Africa.

Reflecting on the recognition, H.E. Olavo Avelino Garcia Correia expressed gratitude for the honour and reaffirmed Cape Verde’s commitment to advancing financial reforms and inclusive economic growth for the benefit of its citizens and the broader African continent.

The 2024 edition of the African Leadership Magazine Africa Summit, themed “Africa Unleashed: Navigating Disruptions, Enhancing Opportunities,” provided a strategic platform for leaders to discuss sustainable development pathways. The summit featured esteemed speakers, including The Right Hon. Cllr. J. Fonati Koffa, Speaker of the Liberia House of Representatives; Dr. Olavo Correia, Deputy Prime Minister & Minister for Finance of Cape Verde; The Right Hon. Lord Dollar Popat, UK House of Lords Member & Prime Minister’s Trade Envoy to Rwanda, Uganda & DRC; and H.E. Rindra Rabarinirinarison, Minister of Economy & Finance of Madagascar. These leaders, along with other distinguished guests from Africa, the UK, and Europe, convened to discuss key issues affecting Africa’s business and socio-economic landscape.

About African Leadership Magazine

African Leadership Magazine, published by the African Leadership Organisation in the UK (Company No. 07435198), is a leading pan-African publication dedicated to presenting Africa’s narrative to a global audience. Since its inception in August 2008, the magazine has played a pivotal role in shaping discourse on leadership, business, and development across the continent and beyond.

With over 16 years of operation, African Leadership Magazine has established itself as a trusted platform for African leaders in business, politics, and diplomacy. Through its global events and publications, it continues to promote Africa-led initiatives, foster international collaborations, and attract investments to drive sustainable growth and prosperity in Africa.

Media Contact:

King Richard Igimoh

Group Editor

African Leadership Magazine

editor@africanleadership.co.uk

For more information visit www.africanleadership.co.uk.

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