African markets and business updates

President Hakainde Hichilema has presented a five-year blueprint aimed at doubling the size of Zambia’s economy, supported by debt restructuring milestones and record foreign exchange reserves. ​Delivering his address to the Fourteenth National Assembly under the theme “Grow Zambia: An Agenda for Inclusive Growth and Opportunity for Every Zambian,” President Hichilema explained that five consecutive years of positive GDP expansion have set the foundation for broader economic progress. ​”Gross International Reserves have increased to their highest levels ever,” President Hichilema said.…

President Hakainde Hichilema today officially opened the first session of the Fourteenth National Assembly, urging lawmakers to uphold unity and accelerate national development. The Head of State said the electorate had given a clear mandate for continuity and progress. “We extend our profound gratitude to the people of Zambia for re‑electing us to serve a second term. Their verdict is unequivocal: The people have chosen continuity, unity, progress and hard and smart work,” he said. President Hichilema noted that recent reforms had produced a more inclusive legislature, with increased representation of women, youths and persons with disabilities.…

President Hakainde Hichilema has announced that all Government institutions will now exclusively acquire electric vehicles as part of a sweeping overhaul of national energy policy. Speaking during the official opening of 14th Session of the National Assembly, the Head of State said the measure is intended to counter global fuel price volatility worsened by geopolitical tensions. He added that to sustain essential national spending commitments such as free education, the Constituency Development Fund (CDF) and social cash transfers, Government has reviewed short‑term tax relief measures by restoring excise duty on fuel.…

Tunisia is working on legislation to regulate remote work in the private sector, but no adoption date has been announced and the final text has not been released. Existing remote work regulations, introduced in April 2022, apply only to public-sector employees, leaving private-sector workers ...

Burkina Faso's proposed 2027 budget projects CFAF 4,200 billion ($7.16 billion) in revenue and CFAF 4,800 billion ($8.2 billion) in spending, with expenditure up 22.5% from the initial 2026 budget. The government plans to prioritize agriculture, industrialization, defense and basic social services, while reducing ...

The Portfolio Committee on International Relations and Cooperation congratulates distinguished South African jurist Judge Navanethem “Navi” Pillay on being awarded the 2026 Nobel Peace Prize for her efforts to promote peace and international law. Judge Pillay’s remarkable career has been defined by courage, integrity and an unwavering commitment to human rights and the rule of law. From her pioneering legal work in apartheid South Africa to her service on the South African High Court, the International Criminal Tribunal for Rwanda and the International Criminal Court, she has helped advance accountability for war crimes, crimes against humanity and genocide.…

The Standing Committee on Finance has expressed serious concern over approximately R1.79 billion in outstanding pension fund contributions owed by about 19 municipalities, with municipalities in the Free State and North West accounting for 79.4% of the total debt. The committee expressed its unhappiness with the failure by municipalities to meet their statutory pension fund contribution obligations, raising concerns about accountability and the potential consequences for affected municipal employees and their retirement security.…

Benin plans to increase social spending to CFAF 1,597.5 billion ($2.73 billion) in 2027, up from CFAF 1,285.4 billion budgeted for 2026. The government plans to expand free secondary education for girls, school meal programs and health insurance coverage, while building five zone hospitals.

Moove is ending its operations in Nigeria after six years, transferring vehicles worth approximately 35 billion naira ($26 million) to eligible customers without requiring further payments. More than 9,000 customers have used Moove's vehicle financing programs in Nigeria since 2020, generating approximately 57 billion naira in ...

Every Monday, Marta Nguene, aged 14, takes on the role of ‘journalist’ at the Novo Campismo reception center in Benguela. Through conversations with families affected by the River Cavaco floods, she gathers stories, concerns, and news that she later shares during psychosocial support sessions. With financial support from the Netherlands, the WHO has seconded a mental health specialist to work with the provincial health authorities and local partners for three months, helping affected communities to cope with the emotional impacts of the emergency. Marta dreams of becoming a television news presenter.…