African markets and business updates

The Kenya Defence Forces (KDF) continues to strengthen operational readiness and sustain pressure against banditry in the North Rift, reinforcing efforts to restore lasting peace, protect communities and create a secure environment for socio-economic development. Commander Kenya Army, Lieutenant General David Ketter, visited troops deployed under Operation Maliza Uhalifu (OMU) at Kacheliba and Kainuk Forward Operating Bases, where he assessed operational readiness, reviewed the prevailing security situation and commended personnel for their dedication to restoring stability and safeguarding lives and property.…

Several agreements were signed on October 8 to advance Kinshasa's MetroKin urban rail project, which is designed to carry 520,000 passengers a day in its first phase. Kinshasa is pursuing two separate rail projects, MetroKin and a tramway network, with estimated investment needs of $2 billion and ...

The World Gold Council and EITI signed an agreement on October 12 to improve transparency and governance in artisanal gold mining, with African countries potentially playing a major role. The WGC is already supporting efforts to formalize artisanal gold mining in Côte d’Ivoire and Ghana, while ...

Ghanaian banks must reduce their bad loan ratio from 15.66% to 10% by December 2026. The ratio has fallen by 5.11 percentage points over the past year. The central bank wants stronger loan recovery without restricting access to credit. The Bank of Ghana has renewed ...

The proposed fund would compensate victims of uninsured, unidentified or insolvent drivers. Its financing sources and compensation limits have yet to be defined. Gabon's auto insurance revenue rose 19.4% to CFA25.67 billion in 2024. Gabon plans to establish an Automobile Guarantee Fund (FGA) to compensate ...

Ghanaian officials have discussed a possible return by ExxonMobil after five years. Ghana's oil output fell from 71.44 million barrels in 2019 to 48.25 million in 2024. The government has proposed new terms to attract investment in oil exploration. Five years after ExxonMobil withdrew from ...

PowerChina will build the Lion Thorn Solar Park for Yellow Door Energy. The 49 MWp plant is expected to produce 115 GWh in its first year. The contract adds to PowerChina's portfolio of solar projects in South Africa. Chinese engineering group ...

The BCEAO cuts the minimum share of customer funds held in demand deposits from 75% to 65%. The change creates room to reallocate up to CFA192.3 billion across licensed operators. Customer balance limits will double to CFA4 million from November 2.

Gabon has appointed a 32-member government amid tighter public finances. The revised 2026 budget cuts spending by CFA862.9 billion. Key economic ministers retain their posts as IMF talks continue. Gabon has reshuffled its government at a time when tighter public finances ...

Guinea's economy is projected to grow 8.8% in 2026 and 11.6% in 2027. Simandou iron ore exports are expected to drive much of the growth. The World Bank warns that strong growth may not translate into enough jobs or lower poverty.