NEWS
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.
NEWS
‘They’ll Be Free Soon’ – DIG Gives Fresh Update on Abducted Oyo Pupils, Teachers
The South-West Coordinating Deputy Inspector-General of Police (DIG), Adegoke Fayoade, has reassured Nigerians that the abducted pupils and teachers in Oyo State will soon regain their freedom as security agencies intensify rescue operations.
Speaking during an official working visit to the Lagos State Police Command Headquarters in Ikeja on Monday, Fayoade expressed confidence that ongoing efforts by law enforcement agencies and government authorities would yield positive results in the shortest possible time.
According to him, all available resources are being deployed to secure the safe release of the victims, while security operatives remain focused on rescue efforts rather than engaging in discussions about ransom demands.
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“All agencies, including government authorities, are working tirelessly. I can assure Nigerians that within the shortest possible time, the children and their teachers will be free,” the DIG stated.
Fayoade dismissed reports suggesting that the abductors had altered their demands, insisting that the police were unaware of any negotiations involving ransom payments or the release of suspected accomplices.
“We do not discuss ransom. Our priority is ensuring the safe rescue of those in captivity,” he said.
The senior police officer explained that his visit to Lagos was part of a broader strategy to strengthen supervision across police commands in the South-West and engage officers on effective approaches to tackling emerging security threats.
He disclosed that discussions with officers centered on manpower development, welfare improvement, and operational efficiency.
Fayoade noted that the ongoing recruitment of 40,000 police personnel would help address manpower shortages across the country, while improved welfare packages would boost officers’ morale and effectiveness.
The DIG also highlighted the Nigeria Police Force’s commitment to adopting modern technology in crime fighting.
He revealed that efforts were underway to complete a central data centre that would enable security agencies to share intelligence and improve crime detection nationwide.
He added that the force was preparing to introduce artificial intelligence into criminal investigations and intelligence gathering to enhance policing and improve response times.
“Technology remains a major priority. Very soon, our officers will begin specialized training on the use of artificial intelligence in investigations and intelligence operations,” he said.
Fayoade further urged members of the public to cooperate with law enforcement agencies, stressing that effective policing requires mutual trust and respect between officers and citizens.
The assurance comes amid growing concern from parents and residents over the fate of the abducted pupils and teachers, with many hoping for a swift and safe resolution to the incident.
NEWS
UK PM Keir Starmer Resigns
British Prime Minister Keir Starmer announced his resignation on Monday after less than two years in office, in a term characterised by policy U-turns and deep public unpopularity.
“Every decision I have taken has been about putting the country I love first. That is why I will resign as leader of the Labour Party,” Starmer said as he choked up in an emotional speech outside 10 Downing Street.
Starmer said the process of picking a new leader for the centre-left party would be launched in July, and he would remain as prime minister until his successor is chosen, to be in place before parliament returns from the summer recess in September.
Starmer’s main rival, veteran politician Andy Burnham, is due to be sworn in as a member of parliament on Monday after winning a crucial special election on Thursday, allowing him to return to parliament and clearing his path to run for party leader.
“I will remain in post as prime minister until the contest is complete, and I will do everything I can to ensure an orderly handover of power,” Starmer added.
Until the weekend, Starmer had insisted he was going to fight on and remain as prime minister as he fought off challenges and calls to step down.
He has clung to that position for months after multiple scandals and high-profile resignations that piled the pressure on him and his Labour Party.
But Britain is now set to get its seventh prime minister in a decade.
Starmer’s widely anticipated announcement comes a day before the 10-year anniversary of the Brexit referendum, which triggered the UK’s exit from the European Union and an unprecedented churn of prime ministers.
Starmer has been credited with reshaping Labour into an election-winning party, which clinched a decisive victory in 2024, ending 14 years of Conservative rule.
But his term was derailed by missteps ranging from benefit cuts to criticism over defence spending plans.
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He was nearly ousted in March over his ill-fated decision to appoint Peter Mandelson, a known associate of the late US sex offender Jeffrey Epstein, as the UK’s ambassador to Washington.
He has also struggled to fight off the rapid rise of the far-right, anti-immigration Reform UK party — which defeated Labour in local elections in May, further weakening Starmer’s position.
“I will also give my successor my full and unequivocal support, knowing that they will inherit a Britain that is far stronger and fairer than the one I inherited two years ago,” Starmer said in his resignation speech.
Courtesy – AFP
NEWS
Gunmen Kill Ex-Ogun State Broadcaster, Security Guard in Early Morning Attack
Gunmen have killed a former staff member of Ogun State Television, Mrs. Kitan Oyesiku, popularly known as “Aunty Kitan,” alongside her security guard in a violent early morning attack in Agodo community along the Abeokuta–Siun–Sagamu Expressway in Ogun State.
The incident, which occurred in the early hours of Sunday, threw residents of the area into panic and mourning as news of the killings spread across the community.
The victims were reportedly attacked inside their residence by unknown armed men who stormed the compound and carried out the operation before fleeing the scene.
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The security guard on duty was also killed during the invasion.
The attack took place within the Abeokuta axis of Abeokuta, raising fresh concerns over insecurity in parts of the state.
The bodies of the deceased have since been deposited at the morgue of the State Hospital, Ijaiye, Abeokuta.
As of press time, the motive behind the attack remains unclear, while security agencies are expected to launch a full-scale investigation into the incident.
An anonymous source who spoke on the development said the incident was discovered after concerned church members went to check on the deceased when she failed to appear at church service.
The source said: “They had come around to check on Mrs Oyesiku when they did not see her in the church. On getting to her residence, they found out that the security officer had been killed, and they later also saw that the assailants had also killed Mrs Oyesiku. That was how they raised the alarm in the community.”
When contacted, the spokesperson of the Ogun State Police Command confirmed the incident and said an official statement would be issued after preliminary investigations.
Mrs. Oyesiku, a former broadcaster with the state-owned television station, was well known in media circles before her retirement.
Her death has sparked grief among colleagues, friends, and residents across Ogun State, as calls mount for improved security in the area.





