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ADB, ASEA Ink $600,000 Network Expansion Agreement
The African Securities Exchanges Association (ASEA) has received the backing of the African Development Bank Group (ADB) in the form of a $600,000 grant to expand the number of linked African exchanges from seven to 15.
Biztellers reports that the grant would be for the second phase of the African Exchanges Linkage Project (AELP), while the agreement was singned by the parties on 28 June, 2023, in Gaborone, Botswana.
It was gathered that the funds would flow from the Korea African Economic Cooperation Fund (KOAFEC) Trust Fund, which is being managed by the ADB.
Recall that the AELP is a flagship project of the ASEA and the ADB to link African capital markets, with the objective of promoting cross-border securities trading, increasing liquidity and diversifying investment opportunities for investors.
Biztellers reports that AELP’s second phase will provide investors access to over 2,000 securities listed on up to 15 capital markets through a cross-border securities trading platform tailored to the needs of regulators, central depositories, policymakers, and stockbrokers.
Participating stock exchanges include the Botswana Stock Exchange, where the grant signing took place; the Ghana Stock Exchange and six other stock exchanges. The grant will also support capacity building of institutional investors and capital market operators.
President, ASEA and CEO, Botswana Stock Exchange, Thapelo Tsheole, signed on behalf of the association.
He said, “We express our gratitude to the African Development Bank for their invaluable support and dedication to the development of African Capital Markets.
“With the generous grant funding, we are poised to expand technical connectivity and linkage among African stock exchanges, creating a broader Pan-African network.
“Together, we are working towards a fully integrated Africa for the benefit of investors, businesses and governments across the continent.”
In the same vein, Vice President for Private Sector, Infrastructure and Industrialization, ADB, Solomon Quaynor, signed on its behalf.
“The Bank is pleased to extend its partnership with ASEA through the follow-on support for Phase 2 of the African Exchanges Linkage Project.
“The AELP is facilitating regional integration through African stock exchanges linkage amounting to up to $1.3 trillion in combined market capitalization.
“The collaboration between the Bank and ASEA through the AELP aligns with our objective of leveraging institutional investor groups and capital markets financing into infrastructure and the real sector in regional member countries,” he said.
The objectives of the AELP align with the African Union’s Agenda 2063 and the African Continental Free Trade Agreement’s goal of establishing a liberalized market to ease the movement of capital and investments and deepen the continent’s economic integration. The project also advances the Bank Group’s High 5 strategic priority to integrate Africa.
Recall that the ADB supported the first phase of the AELP, which was also funded with a KOAFEC grant.
Phase one supported the setup of an infrastructure interconnectivity platform involving seven stock exchanges and 31 stockbrokers. It also offered training for over 1,000 capital market operators.
Oil marketers have warned that Nigerians may soon pay as much as ₦1,500 per litre for Premium Motor Spirit (PMS), commonly known as petrol, as global oil prices surge following the escalating conflict involving Iran in the Middle East.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Gillis-Harry, issued the warning on Tuesday while speaking on a television programme on the impact of the global crisis on fuel prices.
According to him, the current volatility in the international oil market has already pushed petrol prices above ₦1,000 per litre at the depot level, with the ex-depot price from the Dangote Petroleum Refinery now standing at about ₦1,175 per litre.
He explained that once logistics, transportation, and other operational costs are added, the final pump price could rise significantly, possibly reaching ₦1,500 per litre in the near future.
Despite concerns about the rising cost of fuel, Gillis-Harry noted that steady availability of petroleum products from the Dangote Refinery remains a major relief for Nigeria, stressing that consistent supply is better than a nationwide fuel scarcity.
He added that the refinery’s production capacity is helping to stabilize supply across the country at a time when global markets remain highly unstable.
The latest price adjustment by the Dangote Refinery marks the fourth review within two weeks. Petrol prices increased from ₦995 per litre to ₦1,175 per litre, while diesel rose from ₦1,430 to about ₦1,620 per litre.
The development comes amid a sharp spike in international crude oil prices triggered by fears of supply disruptions due to the ongoing Middle East conflict.
Brent crude recently climbed above $102 per barrel, while West Texas Intermediate (WTI) rose to around $101 per barrel.
Industry analysts say the rising oil prices are already having a ripple effect on Nigeria’s downstream petroleum sector, forcing depot operators and fuel marketers to adjust their prices in response to the global market trend.
Meanwhile, the management of Dangote Petroleum Refinery has stated that although Nigeria introduced a crude-for-naira arrangement to support local refineries, the facility still purchases crude oil at international market prices, leaving it exposed to global price fluctuations.
The United Nations has raised the alarm over a dramatic surge in attacks on schools worldwide, reporting a 166% increase between 2021 and 2024.
The rise highlights the escalating dangers faced by children in conflict zones.
United Nations Deputy High Commissioner for Human Rights, Nada Al-Nashif, revealed the figures during the annual meeting of the UN Human Rights Council on the rights of the child on Monday.
The session, themed “Mainstreaming the Rights of Children in Armed Conflict: Prevention and Protection,” focused on protecting children amid global conflicts.
Al-Nashif noted that the attacks were particularly concentrated in Sudan, Ukraine, the Gaza Strip, Myanmar, and Ethiopia, where children remain among the most vulnerable victims.
“In 2024, armed conflict directly affected nearly one in six children globally—about 470 million children,” she said. “Years of lost education, trauma, and lasting mental scars shape societies for generations. Long after the fighting subsides, children continue to face deadly risks.”
She highlighted Gaza as having the world’s highest number of child amputees per capita, warning that the impact of war goes far beyond immediate violence.
In Lebanon, government figures show that more than 450,000 people were displaced in less than a week, with at least 394 fatalities, including 83 children, during the 2024 conflict with Israel.
Al-Nashif also stressed the disproportionate risks for displaced children, who are more likely to die from disease linked to unsafe water and sanitation than from direct violence.
In the Democratic Republic of Congo, a 2025 cholera outbreak killed 340 children, underscoring the long-term consequences of conflict.
She called on states to uphold their international obligations to protect children, insisting that protecting children is “both a legal obligation and a humanitarian moral imperative.”
Also speaking at the council, Vanessa Frazier, Special Representative of the UN Secretary-General for Children and Armed Conflict, warned that violence against children continued at extreme levels in 2025.
She urged mainstreaming child protection across peace, security, humanitarian, human rights, and development efforts, emphasizing that children should actively participate in shaping policies designed to safeguard them.
Frazier highlighted her office’s global campaign, “Prove It Matters,” aimed at amplifying children’s voices in conflict resolution and peacebuilding.
The UN report underscores the urgent need for coordinated international action to protect children and ensure their safety in conflict zones worldwide.
Portugal officially inaugurated its new president, Antonio Jose Seguro, on Monday, pledging to bring stability to a nation shaken by political uncertainty and natural disasters.
Seguro, the centre-left candidate, won last month’s presidential run-off against far-right rival Andre Ventura, following weeks of catastrophic storms that killed at least seven people and caused approximately €4 billion ($4.6 billion) in damage.
Speaking at his swearing-in ceremony in Lisbon’s parliament, Seguro emphasized cooperation with the minority right-wing government and vowed to end the country’s “electoral frenzy.”
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“I will do everything I can to put an end to this electoral frenzy,” he said, pointing to the inability of previous governments to complete their terms.
Amid global crises, including conflicts in the Middle East and a more isolationist US approach under President Donald Trump, Seguro stressed the importance of multilateralism.
“The force of law has been replaced by the power of the strongest,” he remarked.
Seguro succeeds Marcelo Rebelo de Sousa, a conservative who leaves office at 77 after serving two five-year terms.
While the Portuguese presidency is largely ceremonial, Seguro’s leadership signals a commitment to political stability and international engagement.
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