African markets and business updates

Africa does not lack ideas. It lacks the institutional machinery that turns them into industries. Closing that gap is the continent's most consequential industrial challenge, writes Khalil Suleiman Halilu, Executive Vice Chairman and CEO, National Agency for Science and Engineering Infrastructure (NASENI), Nigeria. Africa accounts for less than 2% of global manufacturing output. We hold 20% of the world's land and 18% of its people. The gap between those numbers is the defining economic fact of our continent and even after decades of policy attention, it has barely moved.…

The potential of asset recycling lies not simply in raising capital today, but in creating a cycle in which the value of existing infrastructure helps finance the next generation of assets, writes Dianna Games.

As Somalia rebuilds its institutions, strengthens its economy and reconnects with regional and international markets, the Central Bank of Somalia is emerging as a critical institution in that transformation. Under Governor Abdullahi the Bank has strengthened governance, and banking supervisory oversight; modernised the country's payment infrastructure; brought mobile money, insurance and microfinance institutions under its regulatory purview; and expanded its role in supporting financial inclusion and economic development.

The IPO of the retailer will be only the second on the exchange since 2015 following the listing of Kenya Pipeline Company earlier this year.

Burkina Faso plans to prohibit the privatization of state-owned companies classified as strategic. The proposed law would also allow the government to acquire stakes in strategic private and public companies. The reform raises questions about investor rights and public spending, with key financial terms still unclear. Burkina ...

Algeria has partnered with Vietnam's PVEP to assess additional hydrocarbon potential at two existing oil fields. The 12-month studies will focus on Rhourde El Baguel and Bir El Aïssa in southeastern Algeria. The initiative follows earlier efforts to boost recovery at Rhourde El Baguel, a field discovered ...

Ghana plans to allocate nearly $85 million in its 2027 budget to support affordable housing. The funding will contribute to a $255 million housing fund designed to support construction and home financing. Only 5% of Ghanaians can afford to buy a home without assistance, according ...

UAE-based Elite Agro plans to invest $38 million in a 400-hectare fruit farm in Morocco. The project adds blueberries, mandarins and avocados to the group's operations in a major fruit export market. The expansion comes despite persistent water constraints that pose challenges for Moroccan ...

Africa's new continental credit rating agency aims to address perceived bias in assessments by Moody's, S&P and Fitch. A UNDP model estimated $74.5 billion in additional costs and unrealized financing linked to subjective African sovereign ratings in 2023. AfCRA's success will depend on credible ...

Barry Callebaut plans to triple its chocolate production capacity in Côte d’Ivoire to serve local and regional markets. New projects and investor interest support the country's goal of processing 50% of its cocoa domestically by 2030. Securing reliable cocoa supplies remains a major ...