African markets and business updates

The Commission of the Economic Community of West African States (ECOWAS) organized a working session with its Committee of the Chiefs of Defence Staff (CCDS). The working session on stock taking of the responsibilities pertaining to the change of baton from an out-going to an in-coming Chair of the ECOWAS CCDS took place at the Commission’s headquarters building on the 12th of October, 2026 in Abuja, Nigeria. The Commission is also working with relevant constituted authorities to ensure that the roadmap for the uninterrupted implementation of its counter-terrorism brigade is put in place to guarantee a more stable, prosperous region.…

The Increased Trade and Regional Economic Integration in Africa (ITREIA) project, which is anchored within the Department of Economic Affairs and Agriculture, aims to strengthen the Commission’s capacity and regional coordination to enhance cross-border trade, remove non-tariff barriers, and accelerate market integration across West Africa. The ITREIA programme directly supports Pillar 3 of the ECOWAS Vision 2050, which focuses on regional interconnectivity and economic integration, and targets three core outcome areas: intra-regional trade growth, reduction of non-tariff barriers and market competitiveness. In her remarks, Ms.…

Burundi has launched a national strategy to curb corruption and protect public revenue. Tax revenue stood at about 12% of GDP in 2025, according to the IMF. The government projects a budget deficit of BIF384.96 billion for 2026/2027. Burundi launched a ...

DR Congo wants to join FAGACE to help businesses secure loans and finance major projects. The fund provides guarantees that reduce lenders' risks rather than direct loans. Membership would also give the country a role in the fund's governing bodies. The ...

The Office of the President has today announced the appointment of Ms Kimberly Uranie as the new Deputy Chief Executive Officer of the Industrial Estates Authority (IEA), effective 1st October 2026. Mrs Uranie holds a Postgraduate Certificate in Built Environment from the University College of Estate Management in the United Kingdom. She is also currently pursuing a Commonwealth Executive Master’s Programme in Business and Public Administration at the University of Seychelles. She brings over 10 years of experience in the public service, particularly in land administration, property management and lease management.…

Oriole Resources has yet to secure a mining permit for Bibemi despite its mid-2026 target. The planned gold mine requires an initial investment of $60.4 million. Negotiations with Cameroonian authorities continue over the project's mining agreement. Nearly a year after Oriole Resources ...

Finance Minister Taiwo Oyedele and central bank governor Olayemi Cardoso asked World Bank Group president Ajay Banga in Bangkok on October 12 for wider use of the Bank's guarantees to finance infrastructure. No amount or project was announced. Generation companies ...

The world economy is being reshaped by AI investment but held back by ongoing conflict in the Middle East, says the IMF.

Farmers face a devastating gamble in Bayahaaw village, on the outskirts of Jowhar town in central Somalia: plant and risk losing everything to floodwaters or leave the fields bare and face hunger in the coming year. Nuh Adan, a farmer and community leader in Bayahaaw, fears that if the riverbanks burst now, the impact on local agriculture will last for months. “If the river breaks and the floods hit us, the effects will last until the next rainy season in March,” Adan says. A similar phenomenon in 2023 wreaked havoc across the country, affecting close to two million people and displacing more than 500,000.…

The Office of the President has today announced the appointment of Mr Chrissant Barbe as the new Chief Executive Officer of the Industrial Estates Authority (IEA), effective 1st October 2026. Mr Barbe holds a Master’s Degree in Governance, Management and Sustainable Development from the World Maritime University in Sweden and a Master’s Degree in Public Administration from the Eastern and Southern African Management Institute in Tanzania. He also holds a Postgraduate Certificate in Coastal, Continental Shelf and Boundary Management from the University of the Faroe Islands, along with diplomas in General Management and Environmental Science.…