00:11Welcome to Business Africa. I'm your host, Afolake Uyloyi, the top stories this week.
00:18Nigeria returns to Windsor Castle after nearly four decades marking a historic diplomatic reset
00:24and opening a new chapter in economic partnership with the United Kingdom.
00:32Uganda's wealth shifts investors turn to treasury yields of up to 18% as land and rental dominance leads amid
00:40growing confidence in government securities.
00:47In Cote d'Ivoire, women rober farmers are breaking barriers to land ownership-boosting incomes
00:53and redefining inheritance through a growing path to financial independence.
01:03Nigeria's long-awaited return to Windsor Castle is more than symbolic.
01:08It reflects a shift in reality in which Africa's largest economy is securing major deals and redefining its relationship with
01:16the United Kingdom.
01:19Before President Boletinubu, the last time a Nigerian president had arrived on a state visit to the United Kingdom was
01:26in 1989.
01:27General Ibrahim Babangida was received at the Windsor Castle with the full honours of the British Crown.
01:33It was a golden era of diplomacy, but one that was about to shatter.
01:38The 1990s brought a bitter diplomatic rift.
01:41The execution of activist Ken Sarowiwa and the Ogoni Nine in 1995 turned Nigeria into a global pariah.
01:49For 37 years, the red carpet of a full state visit was rolled up, replaced by decades of transactional lower
01:57-level engagement.
01:58President Tinubu's recent visit to the Windsor Castle marked a historic reset.
02:06The visit moved beyond aid, securing a £746 million port financing deal and a new partnership of equals.
02:17With bilateral trade surpassing £8 billion and a million-strong Nigerian community who call the UK home, Nigeria is no
02:27longer just a resource state.
02:30It is a global cultural exporter and a fintech powerhouse whose unicorns are now expanding into the heart of London.
02:42To unpack the socio-economic impact of this landmark moment, we're joined by the CEO of Equitas Global, Dorothea Hodge.
02:51Thank you so much for joining us on the show.
02:53Now, state visits signal intent, but delivery is key.
02:57Where do you see the biggest opportunities or risk in turning this commitment into tangible trade investments or jobs?
03:04There were various Nigerian companies, LEMFI, Cuda, Moneypoint, Fidelity Bank, announcing that they are expanding their UK operations.
03:14Now, this is the story that no one's really talking about.
03:17That essentially, it's not just UK trade going to Nigeria and UK trade going to Africa, but actually it's these
03:25African unicorns that are coming into the UK, into Europe, growing their brands, growing their footprint, growing their strength and
03:36creating jobs.
03:37So, for example, I was with Mo Obadu, who is a major driver of the creative industries in Nigeria.
03:46Ebony Life, one of her brands, will launch Ebony Life Place London, creating up to 40 new jobs in London
03:54and becoming one of the hubs for telling African stories.
03:58The UK advertising and exports group will announce a strategic partnership with the Nigerian advertising sector.
04:05There are new banks that are opening up.
04:07Ovaltine will be launching a 24 million pound manufacturing hub in Lagos.
04:14It's first in Africa, creating over 100 direct jobs and boosting the company's exports across Africa.
04:20And I think that people would say that this really feels like the start of a bigger story.
04:26How does this reshapes Nigeria's position in UK's Africa strategy?
04:32Nigeria is Africa's most populous country, a country of over 200 million people.
04:37And the continent is also a much younger continent than the rest of the world.
04:43And in that creates a huge opportunity for creativity.
04:47We've already seen the dramatic growth over the last 10 years of African culture becoming mainstream.
04:54African fashion becoming mainstream with designers such as Tolaway being stocked in our luxury retailers Harrods.
05:03So we're beginning to see a real blooming of an understanding of the power of Africa.
05:09It's culture, its identity, its music, its people, and let's not forget the film sector, which is hugely growing.
05:18So I think we can look forward to seeing a very, very different positioning for Africa.
05:23And very much led by the boldness and confidence of Nigeria in its thinking, in its exports, in its trade.
05:33And I think this will become very central to the nature of the relationship between the UK and Nigeria.
05:41With over a million Nigerians in the UK, how can both countries better harness the diaspora's potential?
05:49I had the opportunity to introduce Patricia Bright, an individual with 4 million followers, to Mo Abadu, who is coming
05:57to invest into the UK.
05:59That is a real example of partnerships and the real way that a visit such as this can bring parties
06:08together to boost trade productivity, create jobs, create wealth.
06:13And the diaspora was wholly engaged in this.
06:17The king hosted an event for the diaspora in advance of the state visit at his palace, where there were
06:24over 200 members of the diaspora.
06:27Mainly the younger generation joined to meet him and to also talk about their aspirations for the future of Nigeria.
06:34So there are real opportunities for growth, not only formally at a level of the state to state level where
06:41the big conversations took place and the big strategies on investment took place.
06:46Darafia, it's been a pleasure having you on the show.
06:49Take care. Lovely to see you.
06:52For decades, wealth in Uganda was built on land and rental properties, but in 2026 that model has been rewritten.
07:01More Ugandas are turning to government securities attracted by treasury yields nearing 18%, offering steady low risk returns without the
07:11challenges of property management.
07:15New data from the Bank of Uganda shows a shift from foreign borrowing to domestic investors.
07:16For decades in Uganda, success meant only land and rental units.
07:21But in 2026 that's changing.
07:24Many now prefer government securities, with treasury yields near 18%, offering steady passive returns over property management.
07:34New data from the Bank of Uganda shows a shift from foreign borrowing to domestic investors.
07:39In Uganda, local debt now makes up over half of the portfolio, with retail accounts rising from 12,000 in
07:472021 to more than 168,000 in 2026.
07:54Confidence is not just domestic, it's also offshore.
07:58It's because Uganda, the majority of its debt has paid its debt in the last 50 plus years.
08:03It avoided the debt trap many African countries came in, especially the euro bonds.
08:08It helps them to make sure they can pay whatever their debt is using the local currency and offshore investors.
08:15We are continuing to see the oversubscription.
08:18Last week's auction yielded 17.65%, almost triple of Kampala's average rental returns.
08:26The risk is lower in treasury bonds, and that is now giving many African young people an opportunity to invest
08:34in something that is bringing a fixed 15% return, and it's comparable to global market.
08:40And as mobile internet spreads across Africa, buying bonds is becoming faster and more accessible to a new generation of
08:48investors.
08:52In Cote d'Ivoire, a quiet transformation is underway in the robber sector.
08:57More women are claiming ownership of the land they cultivate, reshaping a traditionally male-dominated industry and turning it into
09:05a pathway for financial independence and generational change.
09:11In Ivory Coast, more women are gaining financial independence through other farming, a sector long dominated by men.
09:18In Dimbroko, veteran farmer Afua May reflects this shift.
09:23After years of working family land without full control of her income, she decided to buy her own plantation.
09:31It's our inheritance for all of us, but I worked with my brothers and saw that what they give me
09:37are just crumbs.
09:39That's why I decided to set up my own plantation.
09:45Her story reflects a growing movement of women turning to rubber farming for income.
09:56Thanks to my plantation, at the end of every month, I earn 70,000 CFA francs.
10:02I feel like civil servant.
10:05My life has changed thanks to my plantation.
10:09The women there want to grow rubber trees this year too.
10:16Despite agriculture being central to the economy, women still own little things.
10:20But the gap is now growing as support programs reduce start-up costs and encourage more women into the sector.
10:30More and more women are becoming interested in rubber cultivation.
10:34And we have included women in our development program at all levels.
10:40For Afua May, that independence also shapes her legacy.
10:44She says she will pass on her land to her daughter, not her son.
10:55That brings us to the end of this edition of Business Africa.
10:59For more business stories and the latest updates, stay tuned to African News or visit us online at AfricanNews.com.
11:06See you soon.
11:07Next time.
11:14Business Africa was presented by Turkish Airlines.
11:17lines.
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