African markets and business updates

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.…

Kenya has inaugurated the first phase of the Ziwa 2 irrigation project, which will cover 500 acres (202 hectares) and benefit 1,000 farming households in Uasin Gishu County. The KSh147 million project aims to help farmers earn an average of KSh200,000 ($1,542) annually per ...

Sixteen decentralized territorial entities in the Beni Territory received mobility support from MONUSCO on Monday, October 12. The support consisted of 16 motorcycles provided under a security governance project implemented by the Civil Affairs Section. The project aims to improve the mobility of local authorities in order to promote grassroots governance and ensure that the concerns of local communities are better addressed. The beneficiaries include the municipalities of Bulongo, Lume and Kasindi-Lubirigha, the Ruwenzori sector, as well as several neighborhood chiefs in the city of Beni.…

China's Sineng Electric has started delivering equipment for Egypt's Nefertiti and Horus battery storage projects, with an initial 1.1 GW of power conversion equipment scheduled for delivery by the end of 2026. The two AMEA Power projects represent a combined planned investment of $442 million, ...

Port Victoria has received further international recognition, having been named the Indian Ocean’s Best Cruise Terminal 2026 at the World Cruise Awards. The award was announced on 12 October 2026 during the World Cruise Awards Gala Ceremony, held at Princess Grand Jamaica as part of World Travel Week. The Ministry of Transport, Ports and Civil Aviation acknowledges this achievement and recognises the ongoing efforts of the Seychelles Ports Authority (SPA), which manages Port Victoria, to maintain service standards and strengthen Seychelles’ position in the regional and international cruise industry.…

Madagascar signed a partnership agreement with Orange Madagascar on October 8 to strengthen digital skills training, improve professional certification and align vocational education with labour market needs. The initiative complements a September agreement with France's Pix and broader digital training programmes, including a target ...

OPEC has slashed its 2026 global oil demand growth forecast to 400,000 barrels per day (bpd), down from 1.4 million bpd at the beginning of the year, amid heightened market uncertainty. The oil producers' group expects demand growth to rebound to 1.7 million bpd ...

The Ministry of Health (MOH) has launched its 2026 Mass Drug Administration (MDA) campaign to combat neglected tropical diseases (NTDs) across Liberia, targeting onchocerciasis (river blindness), lymphatic filariasis, commonly known as “big foot,” and soil-transmitted helminthiasis (intestinal worms). The campaign targets onchocerciasis in all 15 counties, lymphatic filariasis in Grand Cape Mount, Grand Kru, Maryland, and Sinoe counties, and intestinal worms in nine counties: Bomi, Bong, Gbarpolu, Grand Cape Mount, Grand Kru, Lofa, Maryland, Nimba, and Sinoe. Delivering the keynote address at the launch ceremony in Sinje, Grand Cape Mount County Health Officer Dr. Daniel M.…

F1 confirmed that racing will return to the continent for the first time since 1993 at the planned Bugusera circuit near Kigali. Formula 1 (F1) has confirmed that Rwanda will host the first African Grand Prix since 1993 in the early 2030s, kicking off a 10-year agreement to host races. The motorsports competition said that it expects a purpose-built circuit in Bugesera to be completed "early in the next decade" to host the races.…