Africa’s population hit 1.5 bn, now 17.89% of world population

By Favour Nnabugwu
Africa’s current population is said to be at 1,463,378,937 as of August 1, 2023 with the continent population put at 17.89 percent of the total world population, according to the most recent United Nations projections
While the largest population growth between 2022 to 2050 is projected to come from the countries of sub-Saharan Africa, there are countries on the continent that currently have a substantial population.
More than half of the world’s predicted population expansion between now and 2050 will come from just eight nations, five of which are African: the Democratic Republic of the Congo, Egypt, Ethiopia,  Nigeria and Tanzania  while the three other are Pakistan, the Philippines, and India.
The world population is expected to reach 8.5 billion people by 2030, 9.7 billion by 2050, and 10.4 billion by 2080, where it will stay until 2100, according to the United Nations’ 2022 World Population Prospects report.
With over 140 million infants born each year, the world’s population is still growing, the pace of population growth has been gradually slowing for decades, even though the world’s population is projected to keep growing until around 2100.
For the first time since 1950, the pace of population growth on the planet dipped below 1 percent in 2020. The population growth rate maintains a downward trend that started in the 1970s when it was calculated in five-year intervals.
Africa currently stands as the fastest-growing economy in the world, boasting the youngest population of any region. As a result, the population growth prediction stated above juxtaposes numerous economic benefits with problems associated with poor management of population growth.
Africa’s status as a developing continent presents the opportunity to tap into its rapidly expanding population or stand the risk of running into massive socio-economic challenges.
40% of women in MSMEs – NBS

By Favour Nnabugwu



The National Bureau of Statistics (NBS) has unveiled a major milestone for women in Nigeria’s business landscape says 40% of women are into Micro, Small, and Medium Enterprises (MSMEs)

According to the report titled “Country Data Overview,” women now own a remarkable 40% of Micro, Small, and Medium Enterprises (MSMEs) nationwide, signifying a resounding triumph for gender equality and women empowerment in Nigeria’s business landscape.

The NBS findings highlight the momentous impact of women-owned MSMEs on the country’s economic growth and job creation. According to the report, these businesses, led by visionary women entrepreneurs, are emerging as pivotal drivers of Nigeria’s economic resurgence, contributing significantly to the nation’s development across diverse sectors.

From bustling urban hubs to remote rural

Further insights from the report revealed that Nigerian women are breaking barriers and redefining traditional gender roles in entrepreneurship. It noted that their unwavering determination and entrepreneurial acumen are reshaping the face of business ownership, inspiring a new generation of aspiring women leaders to take charge of their destinies.

The report also underscores the challenges faced by women entrepreneurs, particularly in accessing finance, technology, and business support. NBS urged industry stakeholders, policymakers, and financial institutions to unite to create an enabling environment fostering women’s entrepreneurship.

“Targeted support, access to capital, and mentorship programs can propel these trailblazing women to even greater heights of success,” the report noted.

This remarkable surge in women’s entrepreneurship is not merely a statistical triumph but an affirmation of the transformative potential of gender inclusivity in Nigeria’s economic growth. “As the nation strives for sustainable development goals, empowering women-owned businesses will play a pivotal role in shaping a more vibrant and equitable society,” the report added.

AXA Mansard appoints Akingbola Akinola as Non-Executive Director

By Favour Nnabugwu



Axa Mansard Insurance Plc has appointed Chief Akingbola Akinola SAN, as a Non-Executive Director,  senior lawyer and Chairman of the Chartered Institute of Arbitrators Nigeria Branch, has been appointed as a Non-Executive Director of Axa Mansard Insurance Pl

Chief is a senior lawyer and Chairman of the Chartered Institute of Arbitrators Nigeria Branch, 

n a July 6, 2023 letter to the Nigerian Exchange Limited (NGX) and the investing public obtained by CITY LAWYER, the company noted that the appointment is in accordance with Section 274 of the Companies and Allied Matters Act 2020 and has been approved by the National Insurance Commission (NAICOM).

Signed by its Company Secretary Omowunmi Mabel Adewusi, the letter stated that “Chief Akinola is an experienced arbitrator and practicing lawyer with considerable experience in corporate and commercial law and a highly skilled advocate with extensive commercial legal advisory experience.

“He was called to the Nigerian Bar in 1987 and admitted to practice as a solicitor and barrister of the Supreme Court of Nigeria. He is an experienced arbitrator and practicing lawyer with considerable experience in corporate and commercial law and a highly skilled advocate with extensive commercial legal advisory experience.

“He was appointed a Notary Public in May 1998, admitted as an Associate of the Chartered Institute of Arbitrators in November 1999 and became a Fellow of the Chartered Institute of Arbitrators in January 2000. He was appointed a Senior Advocate of Nigeria in 2022.

“He is proposed as a Non-Executive Director representing Minority Shareholders in accordance with the NAICOM Guideline on Code of Corporate Governance 2021.”

Mr. Kola Adesina was also appointed to replace the erstwhile Chairman of the leading insurance company, Mr. Olusola Adeeyo who resigned from the Board at the last Annual General Meeting.

Other Non-Executive members of the board include Mr. Mariano Caballerro and Ms. Melina Cotlar.

AXA Mansard is a member of the AXA Group, the worldwide leader in insurance and asset management with 166,000 employees serving 107 million clients in 64 countries.

AXA Mansard Insurance plc is rated B+ by A.M. Best (2016) for Financial Strength. The company is also certified ISO 9001:2008 compliant by the Standard Organisation of Nigeria (SON) for quality management systems.