African markets and business updates

The planned adoption of the National Identification Number (NIN) as the primary tax identification number for individuals will expand Uganda’s tax base, eliminate duplicate registrations and improve tax administration, the Minister of State for Finance, Planning and Economic Development (Planning), Hon. Amos Lugoloobi, has said. The Minister said the reform is intended to establish a reliable and unified system for identifying individual taxpayers.…

Chargé d’Affaires Jonathan Howard and the Office of Sudan Affairs hosted a reception in Cairo bringing together approximately 60 Sudanese business leaders, Young African Leaders Initiative (YALI) alumni, and representatives from U.S. Embassy Cairo’s Foreign Commercial Service. The gathering focused on strengthening U.S.-Sudanese commercial ties and building networks that can support Sudan’s eventual post-war economic recovery. The reception connected prominent private-sector leaders with YALI alumni, whose ties to the United States, local expertise, and professional networks make them valuable potential partners for American businesses.…

The African Development Bank and UNDP plan to begin implementing their $10 billion AI investment initiative in five countries, expanding to 20 by the end of 2027. Launched in February 2026, the initiative aims to mobilize $1 billion annually over 10 years to support AI projects ...

Dr. Rasha Kelej , CEO of Merck Foundation ( www.Merck-Foundation.com ) , highlighted the importance of creating an environment in which girls are encouraged to learn, pursue their ambitions and fulfil their potential. Through Merck Foundation’s “Educating Linda” programme and their partnerships with African First Ladies , she is advocates for a broader approach to girls’ education that combines educational opportunities with sustained efforts to change the expectations surrounding girls at home and in their communities. Senator Dr. Rasha Kelej (Retd.) shares, “A girl may have the ability to become a doctor, a scientist, an engineer, an entrepreneur or a president.…

Dangote Refinery plans to offer up to $500 million in shares to Southern African investors through Botswana Depository Receipts (BDRs), following an investor roadshow in Gaborone on October 14. Access Bank Botswana will issue the receipts, which are expected to begin trading on the Botswana ...

AFC plans to establish a mining exploration investment company within 12 months. The institution values Africa's mineral resources at $29.5 trillion, including $8.6 trillion in untapped deposits. Its mining investments aim to support industrial development while generating returns for shareholders. Africa Finance Corporation ...

Orange will offer ReelShort's short-form series through its Max it super-app. The service will launch in four markets in 2026 before a wider rollout across 17 countries. The partnership gives ReelShort access to Orange's base of more than 180 million mobile subscribers.

International oil companies active in South Africa have called for government intervention to streamline regulations and address appeal-related licensing delays that continue to constrain investment in the country’s upstream sector. Speaking during a panel discussion sponsored by the South African National Petroleum Company (SANPC) at African Energy Week (AEW) 2026, industry leaders highlighted the need for predictable policy, infrastructure investment and faster project approvals to unlock South Africa’s petroleum potential.…

Wood Mackenzie proposes a new revenue-sharing model for Gabon's ultra-deepwater oil projects. The proposal would adjust the state's share of oil revenue based on project profitability. Gabon is revising its hydrocarbons code amid declining production and expected oil revenue losses. British ...

The proposed 2027 budget rises 6.4% to CFA18.47 trillion. The government expects economic growth to accelerate to 6.6% in 2027. The plan allocates CFA100 billion to launch a sovereign wealth fund. Côte d’Ivoire's government presented a proposed 2027 national budget of ...