African markets and business updates

The commendation came during the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand, where Oyedele chaired the G-24 Board of Governors meeting By Henry Ojelu Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has received commendation from the leadership of the International Monetary Fund, IMF, and World Bank for his leadership of the Group of 24 (G-24), highlighting Nigeria’s growing voice in global economic discussions.…

Geometric Power Chairman, Professor Nnaji, described the Aba Integrated Power Project, an investment exceeding $900 million, as a dream come true. By Emma Ujah, Abuja Bureau Chie f For decades, unreliable electricity supply has undermined Nigeria’s industrial growth, forcing businesses to close, driving up production costs and making life increasingly difficult for households. Read Also: D isCos’ revenue rises 450% as debt profile hits N700bn From textile mills in Kaduna, Kano, Lagos and Onitsha to vehicle assembly plants, tyre factories and footwear manufacturers, several once-thriving industries have struggled or shut down, partly because of inadequate power supply.…

By Peter Egwuatu The Lagos Commodities and Futures Exchange (LCFE) is positioning organised commodities trading as a strategic instrument for promoting transparent petroleum pricing, strengthening competition and improving investment decisions in Nigeria’s evolving downstream petroleum market. Following its recent licence from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to facilitate the trading and […] By Peter Egwuatu The Lagos Commodities and Futures Exchange (LCFE) is positioning organised commodities trading as a strategic instrument for promoting transparent petroleum pricing, strengthening competition and improving investment decisions in Nigeria’s evolving downstream petroleum market.…

Maersk has revised its import dry port surcharge for shipments moving from worldwide origins to New Delhi, India. The new tariff levels took effect on 16 October 2026 for both regulated and non-regulated countries. Under the revision, the New Delhi dry port surcharge for a 20-foot dry container has been reduced from INR 21,000 to […] Maersk has revised its import dry port surcharge for shipments moving from worldwide origins to New Delhi, India. The new tariff levels took effect on 16 October 2026 for both regulated and non-regulated countries. Under the revision, the New Delhi dry port surcharge for a 20-foot dry container has been reduced from INR 21,000 to INR 12,150.…

The Presidency has dismissed claims by Oyo State Governor Seyi Makinde that the Federal Government is withholding N250 billion in Nigeria Liquefied Natural Gas (NLNG) dividends meant for each of the 36 states, describing the allegation as false and inconsistent with the company’s financial records. The Special Adviser to President Bola Tinubu on Information and […]

Kenya has confirmed four new cases of Ebola virus disease, bringing the total number of infections in the country to seven, including one death, as authorities intensify efforts to contain the outbreak. The Director-General of the Africa Centres for Disease Control and Prevention (Africa CDC), Dr Jean Kaseya, disclosed this through the agency’s official X […]

Tony Elumelu says Afrinvest’s repayment of an undocumented $1 million investment made after the 2008 financial crisis has reinforced his belief that trust, when honoured, can unlock business growth and encourage more Africans to invest in promising entrepreneurs.

China's Jinko ESS has signed an agreement to supply 34 battery storage systems with a combined capacity of 18 MWh for a telecom project in Mali, where operators are working to reduce their reliance on diesel generators. Investment in cleaner telecom power is growing in Mali, ...

Vista Bank Group has launched operations in France with €50 million in authorized capital, aiming to make international transactions faster and less costly for its African clients by reducing reliance on intermediary banks. Vista Bank France will offer correspondent banking, trade finance, foreign exchange and corporate banking ...

Kenya plans to distribute 2 million cocoa seedlings to farmers by the end of 2026, with the government considering subsidies to make them more affordable and encourage cultivation. Kenya designated cocoa as a regulated crop in 2024, laying the groundwork for industry development. However, exports remain ...