IMF Says Africa Faces Growth Downgrade Amid Middle East War
The IMF has downgraded Africa's growth outlook for 2026‑27 by 0.4 percentage points, citing the fallout from the US‑Israel‑Iran war. The conflict has pushed oil and gas prices higher, raising inflation expectations to about 5% in Sub‑Saharan Africa and tightening fiscal conditions as bilateral aid is projected to fall 16‑28% in 2025. Earlier optimism from lower US tariffs and a booming tech sector is now offset by supply‑chain disruptions, higher commodity costs and tighter financial markets. The IMF warns that prolonged energy shocks could further suppress global growth and deepen Africa's debt vulnerabilities.
The Africa We Build Summit and Kenya's Bold Infrastructure Blueprint
The Africa We Build Summit convened more than 1,000 heads of state, investors and industry leaders in Nairobi on April 23‑24, 2026, with Kenya President William Ruto delivering the keynote. At the summit Kenya unveiled its National Infrastructure Fund (NIF),...
Strong Earnings and Balance Sheet Growth Signal Afreximbank's Rising Momentum
African Export-Import Bank reported a robust FY2025, with total assets climbing 21% to $48.5 billion and net loans rising 16% to $33.5 billion. The bank posted a 19% jump in net income to $1.2 billion, while maintaining a stable 2.43% non‑performing loan ratio...
Ecobank's Pan-African Model Drives Profit Surge and Strong 2025 Performance
Ecobank Group posted a robust 2025 financial year, with profit before tax climbing 21% to US$801 million and net revenues up 17% to US$2.45 billion. Corporate and Investment Banking delivered a 40% surge in profit, while Consumer and Commercial Banking saw a...
From Indaba to the Budget: Will Fiscal Policy Unlock Mining-Led Growth?
South Africa’s mining sector, responsible for roughly 6% of GDP and about R440 billion ($23 billion) in annual output, is hampered by chronic freight bottlenecks. At the February Mining Indaba, industry leaders called for policy certainty and reliable logistics, prompting Finance Minister...
Young Nigerian Artists Imbibe Foreign Influences in Lagos Show
Eight emerging Nigerian artists, ages 19 to 26, presented a group show at Angels and Muse in Lagos from March 21‑28, 2026. Their work juxtaposes Western pop culture—anime, Cartoon Network, Grace Jones—with distinctly Nigerian subjects and aesthetics. Curated by Awele...
DRC Raises $1.25bn in First Eurobond Issue
The Democratic Republic of Congo issued its first eurobond, raising $1.25 billion in a two‑tranche offering that was oversubscribed more than fourfold. The 5‑year tranche carries an 8.75% yield and matures in 2032, while the 10‑year tranche yields 9.5% and matures...
Morocco and EU Sign Deals to Become "Third Voice" In Global AI
The European Union and Morocco launched a Digital Dialogue to deepen cooperation in artificial intelligence, digital start‑ups, and secure infrastructure. The partnership includes four European supercomputing centres linking with Morocco’s Mohammed VI University, home to Africa’s most powerful supercomputer, and ongoing...
Nigeria Concludes ₦4.65 Trillion Bank Recapitalisation Programme
The Central Bank of Nigeria wrapped up its two‑year recapitalisation programme on March 31, 2026, raising ₦4.65 trillion (about $3.38 billion) in fresh capital. Domestic investors supplied roughly 73% of the funds, while the remainder came from abroad, allowing 33 banks to meet new,...
Action Needed to Address Africa's Structural Challenges, Says AfDB
The African Development Bank’s new Macroeconomic Performance and Outlook reports that Africa grew 4.2% in 2025, beating the global average but still falling short of the 7% growth needed for structural transformation. Thirty‑two of 54 economies posted stronger growth, with...
Africa's Startup Surge Hits $705m as Investment Momentum Builds
African startups raised $705 million in Q1 2026 across 59 deals in 14 countries, a 26.5% year‑over‑year increase. Egypt led with $190 million, followed by South Africa ($157 million), Kenya ($94 million), Nigeria ($78 million) and Morocco ($48 million). Fintech attracted $221 million, energy $141 million and logistics $149 million,...
ECA Launches Initiative to Drive Sustainable Funding for African Health Systems
ECA launched the Sustainable Health Financing Initiative at its Morocco conference, urging African nations to overhaul chronic under‑funding of health systems. Governments currently cover less than 41% of health spending, leaving a $60 billion annual financing gap even if the Abuja...
Finding West Africa's Past to Make Sense of the Present
Adéwálé Májà-Pearce’s new book *Shine Your Eye* retraces a West African trek from Nigeria to Niger, confronting the region’s slave‑trade legacy, post‑colonial violence, and today’s security crises. He highlights how historical complicity in the Atlantic slave trade and French‑British decolonisation...
Former South African Finance Minister Calls for African Renewal Amid Shifting World Order
Former South African finance minister Trevor Manuel warned that soaring oil prices from Middle‑East conflict are amplifying energy and food shocks across Africa, threatening the continent’s poorest households. Speaking at the Adebayo Adedeji Lecture in Tangier, he urged finance ministers...
Momentum Builds for Local Drug Production
Africa imports over 70% of its medicines and 99% of its vaccines, leaving the continent vulnerable to supply shocks. The local pharmaceutical sector is modest, with roughly 375 manufacturers compared with thousands in China and India, and most firms only...
EBID Backs West Africa's Growth with $266.7m and CFA 30 Bn Investment Drive
At its 95th board meeting, the ECOWAS Bank for Investment and Development approved $266.7 million and roughly $53 million (CFA 30 bn) to fund strategic projects across five West African nations. The portfolio targets waste management in Lagos, transport corridors, agro‑industry, and SME credit...
Saudi Arabia Eyes African Critical Minerals
Saudi Arabia is pivoting from oil to critical minerals to meet Vision 2030 goals, targeting 30% electric‑vehicle sales and 50% renewable electricity by 2030. Africa, which holds about 30% of global critical‑mineral reserves, is becoming a key supply source. Riyadh has...
UK-Nigeria Economic Ties Deepening with Rising CBN Credibility
UK High Commissioner Jonny Baxter praised the Central Bank of Nigeria’s growing credibility and highlighted the United Kingdom’s position as Nigeria’s largest single source of foreign capital, accounting for roughly half of recent inflows. He noted that Nigeria’s macro‑economic reforms...
Nigeria Sharpening Its Growth Strategy Through Policy Alignment and Power-Sector Reform
Nigeria’s leadership is aligning fiscal and monetary policy to stabilise the macroeconomy, a move that has already lowered inflation while sustaining growth. Special Adviser Sanyade Okoli stresses that coordinated policy is essential for attracting investment and creating jobs. The government...
Africa Turns to Philanthropists to Fill Gaps in Health Funding
With international aid shrinking, African governments are turning to philanthropic capital to bridge widening health‑care gaps. The Bill & Melinda Gates Foundation announced a $200 bn spend‑down by 2045, prioritising primary care, data systems and AI‑driven services across the continent. Corporate...
Afreximbank Underwrites US$2.5-billion Term Loan for Dangote Refinery
Afreximbank led a $2.5 billion five‑year term loan for Dangote Petroleum Refinery & Petrochemicals, the continent’s largest financing deal for a single industrial asset. The loan, arranged with Access Bank, consolidates existing debt and optimises the refinery’s capital structure as it...
Colombia Highlights Common History in Africa Push
Colombia’s Afro‑descendant vice‑president Francia Márquez is spearheading a diplomatic outreach to Africa, highlighting shared heritage and seeking deeper economic ties. Trade between Colombia and the continent, though modest, has risen sharply – exports to Africa grew 16% annually from 2001‑2021...
Powering Africa's Digital Future: Why Infrastructure, Not Access, Will Determine Who Captures Value
In 2024, only about 40 % of Africans are online and most of their traffic runs through servers outside the continent. Africa hosts just 103 data centres, with South Africa holding 61, Nigeria 23 and Kenya 19, compared with the United...
The Precision Transition: Designing Africa's Power Systems for Reality, Not Abstraction
The article advocates a "capped carbon overdraft"—a time‑limited, low‑emissions gas‑fired capacity that backs up Africa’s renewable rollout. Power‑system studies in Nigeria, Mozambique and Southern Africa show that flexible gas plants deliver the cheapest long‑term mix when paired with solar and...
Standard Bank CIB Global Markets Leads the Field at JSE Spire Awards 2026
Standard Bank’s Corporate and Investment Banking Global Markets division captured top honours at the 2026 JSE Spire Awards, being named Overall Best Fixed Income and Forex House. The peer‑reviewed awards, driven by South Africa’s largest institutional investors, also saw the...
CoM 2026, Committee of Experts - Opening Remarks by Deputy Executive Secretary Mama Keita
Deputy Executive Secretary Mama Keita opened the 2026 Committee of Experts, emphasizing the theme “Growth through innovation: harnessing data and frontier technologies for economic transformation in Africa.” She highlighted that while Africa’s GDP has averaged 3.5% growth since 2000, productivity gains...
Africa Can Leverage Remittances for Growth Through Fintech
In 2024, formal remittances to Sub‑Saharan Africa reached about $100 billion, with Nigeria alone receiving roughly $21 billion—around 10 % of its GDP. Policymakers see the challenge of turning these consumption‑driven inflows into savings and investment, a task that hinges on scaling Africa’s...
Cardoso Says the CBN Will Stay the Course as Reforms Yield Dividends
Central Bank of Nigeria Governor Olayemi Cardoso reaffirmed the regulator’s commitment to ongoing reforms, highlighting eleven straight months of disinflation and a newly liberalised foreign‑exchange market that no longer requires intermediaries. He noted that 32 banks have satisfied the latest...
Saudi Arabia Looks to Africa as It Spreads Its Economic Wings
Saudi Arabia has accelerated its push into Africa, pledging $41 bn of investment through Vision 2030 to diversify away from oil. The focus centers on logistics hubs like Djibouti, large‑scale renewable energy and desalination projects, and securing food and mineral supplies....
The Man Who Wired Africa
Dare Okoudjou, a Benin‑born telecom engineer, founded MFS Africa—now rebranded as Onafriq—to build the continent’s underlying payments rail. The network interconnects more than 500 million mobile wallets and 200 million bank accounts across 40 African nations, turning a fragmented ecosystem into a...
Togo's Quiet Rise as a Startup Contender
Togo’s tech ecosystem gained global attention when Lomé‑based super app Gozem closed a $30 million Series B round in February 2025, briefly placing the country among Africa’s top five startup funding destinations. The nation now hosts over 300 registered startups that have...
Why Africa Should Pursue China's Coastal-First Approach
African policymakers are urged to adopt a "coastal‑first" development strategy, mirroring China’s early focus on seaports and special economic zones. The article argues that concentrating investment in coastal hubs lowers trade costs, attracts foreign direct investment, and creates surplus revenues...
The Future of African Healthcare in an Era of Resource Scarcity
Africa faces the world’s largest healthcare access gap, with only 17‑24% of its population covered by health insurance and out‑of‑pocket payments driving millions into poverty. Public health systems remain chronically underfunded, failing to meet the WHO’s $249 per‑capita spending benchmark,...
Meet the Africans Remaking Classical Musical on the World Stage
African musicians are reshaping the classical canon by spotlighting a rich, often overlooked repertoire from across the continent. Nigerian pianist Rebeca Omordia launched Wigmore Hall's eight‑year African Concert Series, featuring traditional instruments like the ọjà, kora and nyatiti alongside works...
New Tax Regime Will Relieve Burden for Small Companies
Nigeria enacted four interconnected Tax Reform Acts, consolidating legacy statutes into the Nigeria Tax Act effective Jan 1 2026. The reforms raise the small‑company exemption threshold to $74,088 in annual turnover and set a N250 million fixed‑asset ceiling, easing the federal tax burden...
Kenya Calls for African Self-Reliance Amid Global Upheaval
Kenya’s foreign minister Musalia Mudavadi urged African nations to boost self‑reliance as the Iran conflict fuels global fragmentation and rising oil prices. He framed the moment as a historic inflection point, calling for a multi‑alliance foreign policy that balances traditional...
Tony Elumelu to Spearhead Macron's New France-Africa Initiative
French President Emmanuel Macron has appointed Nigerian billionaire Tony Elumelu to head the newly created Africa‑France Impact Coalition, a forum designed to deepen private‑sector collaboration between France and Africa. The coalition will be highlighted at the France‑Africa summit in Nairobi...
Microsoft Invests Hundreds of Millions of Dollars in Africa AI Push
Microsoft announced a multi‑year push to accelerate AI adoption across Africa, pledging to train three million people through partnerships with schools and universities in key hubs such as South Africa, Kenya, Nigeria and Morocco. The company also struck a deal...
Cardoso Returns CBN to Central Banking Orthodoxy
Nigeria’s central bank, under new governor Olayemi Cardoso, has shifted back to orthodox monetary policy after a period of development‑bank‑style interventions. Since taking office in October 2023, Cardoso led a tightening cycle that pushed the policy rate to a record...
Equity Bank's Mwangi on Turning Banking Exclusion Into Opportunity
Equity Group Holdings, led by James Mwangi, has turned Africa’s banking exclusion into a growth engine, scaling from a modest building society to a $16.5 bn balance‑sheet institution. By targeting low‑income earners, small farmers and micro‑entrepreneurs, the bank now holds up...
Morocco Rising: Inside the Kingdom's Startup and VC Revolution
Morocco’s startup ecosystem surged in 2024, raising nearly $95 million in venture capital across 40 deals, almost tripling the previous year’s total. Domestic funds such as UM6P Ventures and Al Mada Ventures supplied about 70 % of the capital, while high‑profile rounds like...
Middle East War Threatens African Agriculture
The Middle East war and Iran’s blockade of the Strait of Hormuz have driven oil prices to $87‑$120 a barrel and disrupted Gulf fertilizer exports. Fertilizer futures jumped over 10% on the first trading day, with analysts expecting a 17%...
Where Investors Can Back Africa's Trade Expansion
The article highlights that Africa’s intra‑regional trade finance market exceeds $60 bn but remains vastly under‑served, with only 7‑25% of demand met. Post‑2008 regulatory changes pushed global banks to partner with local institutions, making regional banks the primary conduit for cross‑border...
Standard Bank Delivers Record Earnings as Africa Strategy Pays Off
Standard Bank Group posted record headline earnings of R49.2 billion for 2025, delivering a 19.3% return on equity at the top of its target range. Earnings were driven by strong performance across Africa Regions, which supplied 40% of profit, and robust...
Ghana Gets New $40m Pasta Factory
Ghana’s drive to become a West African industrial hub received a boost with Olam Agri’s $40 million pasta plant in Kpone, near Tema. The 60,000‑tonne facility can meet up to 40 % of domestic pasta demand, previously satisfied entirely by imports costing...
Nigeria's Rise as Africa's Unicorn Factory
Nigeria has become Africa’s premier unicorn factory, outpacing Kenya, Egypt and South Africa with the continent’s highest number of billion‑dollar startups such as Flutterwave, OPay, Interswitch, Moniepoint and Andela. A 220‑million‑strong consumer base, massive unbanked population and rapid smartphone adoption...
AI Begins to Take Root in Emerging Market Firms
AI adoption is gaining traction in emerging market firms, with roughly 40% reporting use of AI for internal processes or customer‑facing products. Digital‑first companies lead the wave, achieving a 64% adoption rate, while newer startups founded after 2015 exceed 50%...
Why Somalia's Banks Must Consolidate
Somalia’s banking sector has rebounded over the past decade, quadrupling assets to $1.8 billion and expanding deposits to $1.43 billion, yet it remains highly fragmented with 13 small, under‑capitalised banks. Most institutions are privately owned, Sharia‑compliant and concentrated in urban centres, leaving...
50 Million a Year Need Electricity Access to Reach Mission 300 Goal
Mission 300, a partnership led by the World Bank and African Development Bank, targets 300 million electricity connections in Africa by 2030. Since July 2023 the initiative has added about 44 million new connections, leaving a shortfall that requires roughly 50 million people to...
Home Advantage: Kenyan Banks Outperform Foreign-Owned Competitors
Kenyan‑owned banks posted strong H1 2025 earnings, with I&M up 36%, Equity 17% and NCBA 12.6%, while foreign‑owned Standard Chartered and Stanbic saw profits fall 21% and 9% respectively. Moody’s kept a stable outlook for Kenya’s big three banks despite...