African markets and business updates

For decades, France's engagement with Africa was defined by its deep political, military and economic ties with its former colonies - a system widely described in academic and policy circles as Françafrique . Built on linguistic affinity, cultural assimilation, elite networks and security cooperation, this model shaped France's influence across West and Central Africa for more than half a century. But the geopolitical landscape has shifted dramatically.…

Over the last five years the energy sector in Côte d'Ivoire has changed dramatically - and it shows no signs of slowing, as the government looks to increase installed energy capacity from around 3,000 MW in 2025 to 5,000 MW by 2030 and crowd in more investment into its emerging oil and gas sector. The government has set two ambitious targets for 2030: 100% household electrification within five years and 42% of the energy mix to be from renewables. Meeting both will require significant inwards investment.…

Kabila associate fights US fund FG Hemisphere over Maryland property freeze

It was a business hard won against bullets and bullies in the tough South African townships. Now Luvuyo Rani, the man who started a multi-million-dollar tech business by selling out of the boot of his car is telling the rest of the world how tech entrepreneurs can bridge the so called "digital divide". It is just after breakfast on a crisp spring morning on campus in Boulder, Colorado. Rani is chipper, far from home, and ready to talk. His ready laugh speaks of bitter-sweet experience.…

Investors trading across Africa require custody services and internationally experienced custodians to protect their portfolios and process their transactions securely. These services are essential for developing capital markets. As more investors buy assets throughout Africa, they require custodians with a global presence who can leverage local service capabilities. In this context, it's no longer enough for a bank to merely safeguard its clients' financial assets in the background. From Absa's point of view…

The powerful Joël Monefong grows network in finance minister's orbit

Volatility across West Asia has disrupted long-assumed supply stability, pushing oil prices above $115 per barrel and leaving nearly one-fifth of global liquefied natural gas (LNG) flows exposed to disruption in the Strait of Hormuz. Against this backdrop, the quiet but decisive restart of the Mozambique LNG project in January represents more than the resumption of a delayed investment. It signals a structural shift to come in energy security, geographically, politically and economically.…

Côte d'Ivoire is forging ahead - driven by strong performances across a broad range of sectors, including extractives, agro-industrial and services. Forecasts by the IMF predict that the West African country will expand by 6.4% in 2026, putting it among Africa's top ten performers. The recent discovery of the Calao South gas field, announced in February by oil major ENI, and the announcement in January of up to $190m in investment in the Doropo Gold Project by Australian miner Resolute…

Awash Bank, la plus grande banque privée d'Éthiopie, vient de faire son entrée à la Bourse des valeurs éthiopienne (ESX). L’Ethiopian Securities Exchange (ESX) a annoncé le lancement de Neway, sa première plateforme de trading accessible via application mobile et web. L’ouverture du secteur bancaire éthiopien à la concurrence étrangère est attendue depuis plusieurs années par plusieurs banques africaines, dont l’égyptienne Commercial International Bank, la kényane KBC Group et la sud-africaine Standard Bank.…

The United Arab Emirates (UAE) has announced it is leaving OPEC on 1 May, in a move that could have implications for African members' relations with the oil cartel. The UAE's announcement comes after growing tensions with OPEC's de facto leader, Saudi Arabia, the organisation's largest oil producer. The UAE seeks higher production quotas to drive lower prices; by contrast, Saudi Arabia favours lower production quotas as a way to keep oil prices at around $100 a barrel in order to balance its budget. OPEC…