Nigeria has secured a $652 million loan from China's Exim Bank to fund the construction of a major road linking key economic hubs in Lagos to several southern states.

Public Works Minister David Umahi says the road will serve as a critical evacuation corridor for goods from the Lekki Deep Sea Port, the Dangote Petroleum Refinery, Africa's largest and its adjoining fertiliser plant.

The Federal Executive Council approved the funding, chaired by President Bola Tinubu.

Thami Ngubeni spoke to The Economist and the managing director time Timeline Consulting Limited, Nigeria, Idris Shuaibu...

Nigeria has secured a $652 million loan from China's Exim Bank to fund the construction of a major road linking key economic hubs in Lagos to several southern states.
Public Works Minister David Umahi says the road will serve as a critical evacuation corridor for goods from the Lekki Deep Sea Port, the Dangote Petroleum Refinery, Africa's largest and its adjoining fertiliser plant.
The Federal Executive Council approved the funding, chaired by President Bola Tinubu.
Thami Ngubeni spoke to The Economist and the managing director time Timeline Consulting Limited, Nigeria, Idris Shuaibu...

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

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Africa in Business

Nigeria secures $652 million loan from China's Exim Bank

As Africa Aerospace and Defence (AAD) 2026 approaches, the rapid evolution of drone technology, autonomous systems, AI and electronic warfare is forcing countries to rethink how they prepare for modern security threats. Recent conflicts have demonstrated how quickly relatively low-cost unmanned technologies can change the battlefield, while African countries continue to face increasingly complex security challenges and constrained defence budgets.

Milkor, as the Diamond Sponsor of the AAD 2026 Conference, believes this changing environment presents an important opportunity for South Africa and the rest of Africa to strengthen indigenous capabilities and reduce reliance on imported technology.

To discuss this further, we are joined by Daniel du Plessis, Vice President: Africa at Milkor.

As Africa Aerospace and Defence (AAD) 2026 approaches, the rapid evolution of drone technology, autonomous systems, AI and electronic warfare is forcing countries to rethink how they prepare for modern security threats. Recent conflicts have demonstrated how quickly relatively low-cost unmanned technologies can change the battlefield, while African countries continue to face increasingly complex security challenges and constrained defence budgets.
Milkor, as the Diamond Sponsor of the AAD 2026 Conference, believes this changing environment presents an important opportunity for South Africa and the rest of Africa to strengthen indigenous capabilities and reduce reliance on imported technology.
To discuss this further, we are joined by Daniel du Plessis, Vice President: Africa at Milkor.

Africa Aerospace and Defence 2026 highlights need for Africa to reduce reliance on imported technology

Airports Company South Africa (ACSA) says that it has posted a profit of R1.2 billion for the 2025/26 financial year, up from R1.14 billion the previous year. Despite rising costs, revenue grew across the board.

Aeronautical income, which is income directly related to air landing tariffs and passengers' tariffs, jumped 15.2% while income from retail, property rentals and parking increased 7.7%. This will be acting CEO Charles Shilowa's first results presentation in this position after taking over from Mpumi Mpofu, whose contract ended in June.

To find out what they attribute the positive outcome to,  Thami Ngubeni spoke to Luzuko Mbotya, who is the chief financial officer at the Airports Company.

Airports Company South Africa (ACSA) says that it has posted a profit of R1.2 billion for the 2025/26 financial year, up from R1.14 billion the previous year. Despite rising costs, revenue grew across the board.
Aeronautical income, which is income directly related to air landing tariffs and passengers' tariffs, jumped 15.2% while income from retail, property rentals and parking increased 7.7%. This will be acting CEO Charles Shilowa's first results presentation in this position after taking over from Mpumi Mpofu, whose contract ended in June.
To find out what they attribute the positive outcome to, &nbsp;Thami Ngubeni spoke to Luzuko Mbotya, who is the chief financial officer at the Airports Company.

 ACSA posted a profit of R1.2 billion for the 2025/26 financial year

As part of Tourism Month, we look at how KwaZulu-Natal is using the growing tourism movement to expand the economic reach of tourism beyond the province's established destinations. We will focus on the development of new tourism routes and experiences that can bring lesser-known and rural areas into the visitor economy.

On the 20 of September, the province will unveil its programme at Appelsbosch which they say provides a practical example of this approach. Its faith and mission heritage, hospital centenary, hiking opportunities and rural landscape they say raises the question of whether these assets can be connected into a sustainable visitor journey that benefits the wider.

To talk to us more on this, Thami Ngubeni spoke to Dr Sibusiso Ndebele, Board Chairperson, KZN Tourism and Film Authority.

As part of Tourism Month, we look at how KwaZulu-Natal is using the growing tourism movement to expand the economic reach of tourism beyond the province's established destinations. We will focus on the development of new tourism routes and experiences that can bring lesser-known and rural areas into the visitor economy.
On the 20 of September, the province will unveil its programme at Appelsbosch which they say provides a practical example of this approach. Its faith and mission heritage, hospital centenary, hiking opportunities and rural landscape they say raises the question of whether these assets can be connected into a sustainable visitor journey that benefits the wider.
To talk to us more on this, Thami Ngubeni spoke to Dr Sibusiso Ndebele, Board Chairperson, KZN Tourism and Film Authority.

Nigeria secures $652 million loan from China's Exim Bank

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