Trump secures $600 billion in investment commitment from Saudi Arabia | CBN unveils diaspora BVN platform
Here is what you need to know about this week's Global news review and how it affects you and your business + a lot of goodies for you!
Nigerian News: CBN unveils diaspora BVN platform, targets $1bn monthly remittance
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the non-resident bank verification number (NRBVN) platform to ease access to financial services for Nigerians in the diaspora.
Our thoughts:
This allows Nigerians living abroad to obtain their BVN remotely—no more expensive trips home just to open or operate a Nigerian bank account.
Why It Matters:
Remember the non- residents nigerian accounts that was announced in January this year? The one that allows Nigerians in diaspora access financial services and investment products locally?
Well in order to actually open the account from your offshore location, you need to have BVN! So this is CBN setting up the infrastructure to make the accounts work! The real goal is to unlock diaspora capital and hit an ambitious $1 billion/month in remittances.
Who Benefits?
Without needing to step foot in the country, Diaspora Nigerians now have easier access to Savings and investment products, Insurance, mortgages, and pension offerings, The Nigerian capital market— this is not without its risks though!
Nigerian Financial Institutions gain access to a larger customer base and new FX inflows, potentially improving liquidity and revenue.
The CBN and Government get a win for their financial inclusion agenda and much-needed FX inflows to stabilize the naira.
For context, remittances grew from $3.3bn in 2023 to $4.73bn in 2024. Now, with easier access and regulatory clarity, Nigeria hopes to further tap into its global diaspora community as a financial lifeline during FX shortages and macro instability.
While it is laudable that these things are being put in place, more work needs to be done to increase confidence in the economy and take Nigeria out of FATF grey list!
African News: Big Moves in African Tourism: Dangote-Backed Firm Acquires Kenya's Oldest Safari Company
What happened?
Africa Travel Investments, a tourism-focused investment firm backed by the sweetheart of every Nigerian (hahaha), Aliko Dangote, has acquired Pollman’s Tours & Safaris—Kenya’s oldest and most respected tour company.
Who is Africa Travel Investments?
Africa Travel is part of a bigger investment trend spearheaded by Alterra Capital—a private equity fund backed by Dangote and U.S. billionaire David Rubenstein.
Alterra also Acquired a major stake in Java Coffee House, which operates 73 outlets across East Africa and Invested in ARP Africa Travel Group, which owns Pollman’s Tours
Strategic moves! In simple terms, they’re putting serious money into East Africa’s tourism and hospitality sectors.
What does Pollman’s do?
Pollman’s Tours & Safaris is a destination management company (DMC) that offers Custom safari experiences, Cultural tours (Maasai villages, Swahili coast), Luxury lodging and tailor-made itineraries and Sustainable tourism and local community support.
They’ve been in existence for over 50yrs and are well-known for high-quality service, expert guides, and authentic experiences.
What this means for Kenya:
This acquisition sends a strong signal to investors and tourists alike:
Confidence in Kenya’s tourism sector:
Global and African billionaires are betting on Kenya’s post-pandemic tourism recovery, beautiful landscapes, and safari appeal.
East Africa as an investment hotspot: Kenya is being positioned not just as a safari destination, but a business-friendly hub for sustainable tourism and hospitality.
Where are the opportunities?
When deep pockets invest, they come with a marketing budget. Lol. So expect to see more ads, and campaigns to attract people to Kenya. On the back of this rise in traffic, there will be increased demand for hospitality services at different price points. Barring political disruptions, it will be a natural consequence. Just give it time.
There’ll be increased demand for hotels, restaurants, parks, short-lets, transportation etc... these are the opportunities. Again, position and give it time!
This isn’t just a business deal. It’s a wake-up call to smart investors.
From luxury safaris to tech-driven travel solutions, Kenya’s safari economy is evolving—and the early movers are already cashing in.
Your Kenyan adventure and investment awaits.
Global News: Trump secures $600 billion in investment commitment from Saudi Arabia; deal includes defence tech, aerospace pacts
US President Donald Trump has secured a massive $600 billion investment commitment from Saudi Arabia during his first state visit to the Kingdom since being re-elected for a second term, the White House announced in a fact-sheet on Tuesday.
Trump Revives the Drug Price War — Is It All Bark or Real Bite?
President Donald Trump signed an executive order aimed at cutting U.S. drug prices to match what other countries pay. This “price-match mandate” gives pharma companies 30 days to cut costs—or face tariffs, importation of cheaper foreign drugs, and more aggressive regulatory action.
Everyone knows that health care is extremely expensive in the US, when buying international insurance, the rest of world classification’s premium is about 50% cheaper than when US is included!
From a stock market perspective, Pharma stocks first dipped in premarket trading but rebounded sharply. Lol
Why the bounce? Investors realized that while the idea sounds grand, actual implementation will face legal and political roadblocks. This announcement looks more like a political headline than an immediate market disruptor.
The Politics Behind the Policy: Inflation Narrative Reloaded
This order is as much about campaign optics as it is about policy. Trump is Reinforcing his narrative as the inflation fighter, Targeting middle-class pain points (e.g. high insulin prices) and Appealing to fiscally conservative voters tired of corporate greed. All na game! Lol
For long-term investors, this is not the time to flee Big Pharma, but it is the time to Reassess your sector exposure and Keep one eye on the courtroom and another on the campaign trail.
Because when policy and politics collide, the market often follows.
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