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AfricanBUSINESS CONTENTSContents UNITED KINGDOM IC PUBLICATIONS 7 Coldbath Square, London EC1R 4LQ Tel: +44 20 7841 3210 icpubs@icpublications.com www.african.business FOUNDER Afif Ben Yedder PUBLISHER & EDITOR-IN-CHIEF Omar Ben Yedder | o.benyedder@icpublications.com EDITOR David Thomas | d.thomas@icpublications.com SUB-EDITOR Mike Holderness | m.holderness@icpublications.com DESIGN J V e n k a t a s a m y | j.venkatasamy@icpublications.com COMMERCIAL DIRECTOR Roman Zincenko | r.zincenko@icpublications.com ADVERTISING SALES DIRECTORS Baytir Samba, Nick Rosefield, Saliba Manneh ADVERTISING advertising@icpublications.com DISTRIBUTION distribution@icpublications.com PRODUCTION MANAGER Stuart West | s.west@icpublications.com TUNISIA Néjib Ben Yedder | n.benyedder@icpublications.com GHANA Silv ia Salvetti, Top Reports | top@topreports.org IC EVENTS info@ic-events.net SUBSCRIPTIONS IC Publications Webscribe Unit 4, College Business Park, College Road, North Aston Clinton HP22 5EZ, UK Telephone + 44 (0) 1442 820580 contact@webscribe.co.uk https://african.business/subscribe PRINTERS Roularta Media Group Meensesteenweg 300 8800 Roeselare Belgium All pictures AFP unless indicated. Registered with the British Librar y. ISSN 0141-3929 ©2025 IC Publications Ltd Cover stor y: The African Union Business Intelligence 4 News and deals around Africa 10 Cover story: Can the African Union be saved from itself? Opinion 16 South Africa’s G20 presidency: a chance to tackle the debt crisis 41 Special report: Davos 2025 42 Unlock pension capital, Davos told 43 Special economic zones can drive industrialisation 44 S&P insists it rates Africa fairly 46 Inter view: Ecobank’s $400m fundraising offers platform for growth, says CEO Jeremy Awori 66 Inter view: Standard Bank CEO Sim Tshabalala sends positive signal for the year ahead Features 18 Water crisis looms over South Africa’s business landscape 26 The deadly burden of cigarettes 28 Inter view: finance minister Wale Edun on shaping Nigeria’s future 32 Nigeria inflation surges but Central Bank targets 2025 improvement 34 Communiqué: Nigeria′s ambitious healthcare overhaul 36 Interview: recognise limitations of international capital, says Admassu Tadesse of the TDB 84 Africa Improved Foods targets shift to commercial food production 86 Inter view: ‘People who don’t use AI will be replaced with people who do’ – consultant Za i n Ver je e 88 High-tech Moroccan university takes on the Iv y League 90 Africa’s mines turn to solar energy in sustainability push 92 Inter view: African renewables set to benefit from declining costs, says solar chief Terje Pilskog 98 Inter view: combative Zimbabwean property tycoon Ken Sharpe Special report: Privatisation in Ethiopia 20 State enterprise boss: our strategy is reform, not privatisation 22 Opinion: Ethiopia’s neoliberalism agenda is a mistake 24 Opportunities for Africa’s bankers as Ethiopia opens up the sector Special report: Presenting Africa in association with Afreximbank 68 Leading in 2025: driving the Global Africa agenda 70 Taking Africa to the world 74 Unlocking trade finance 75 Creating a multi-billion dollar industry in the creatives Countryfiles 102 Senegal businesses brace for assertive policy after Faye win 104 Mahama plans launch of Ghana’s ‘24-hour’ economy Arts & Culture 110 Newly-found works highlight the Nigerian who sculpted the Queen Review 112 Empire and the culture wars Editor’s View 114 Africa needs to get real about Security Council reform

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