African markets and business updates

African Export-Import Bank (Afreximbank) ( www.Afreximbank.com ) congratulates the Government and people of the Republic of Kenya, led by H.E. President Dr William Samoei Ruto, on the groundbreaking of the Dangote oil refinery in Lamu. The landmark investment has the potential to significantly expand Africa’s refining capacity, strengthen regional energy security and accelerate the continent’s transition from exporting raw materials to trading value-added products. The approximately US$16 billion refinery is planned to have capacity to process 700,000 barrels of crude oil per day and is expected to create approximately 60,000 jobs.…

Africa's Green Economy Summit (AGES) has launched the preview brochure for its 5th edition, taking place in Cape Town from 23 to 26 February 2027. The City of Cape Town has been confirmed as host city once again, continuing a partnership that has anchored AGES in the city since its earlier editions. The launch comes as the world turns its attention to COP31, the UN Climate Change Conference. AGES is positioned to carry that global momentum forward, turning the commitments and conversations of COP31 into the partnerships and financing decisions that deliver Africa's sustainable development on the ground.…

In its first full financial year, ended 30 June 2026, and the first since the merger of ENL and Rogers, ER Group ( ) recorded revenue of MUR 46.3 billion (USD 969 million) and profit after tax of MUR 5.4 billion (USD 113 million), excluding non-recurring items. The Group exceeded the operating profit target announced during the year and reduced its gearing. This financial strength is translating into concrete progress in Mauritius, from tea cultivation to electric mobility and sustainable finance, and into new steps across the region, which the Group will build on through its strategic plan to 2029.…

GE Vernova ( www.GEVernova.com ) and PROTEC today celebrated the graduation of 27 students from Next Engineers Engineering Academy, a global college- and career-readiness programme designed to help increase opportunities for young people in engineering. The graduation ceremony, held at The University of the Witwatersrand, Johannesburg, marks the programme’s third graduating class and highlights its contribution towards bridging the science, technology, engineering and mathematics (STEM) skills gap in South Africa, exposing learners to hands-on engineering experiences and career pathways.…

Strengthening defence cooperation, professional engagement and military-to-military relations formed the focus of a courtesy call by the Commander of the French Forces in Djibouti (FFDJ), Brigadier General Olivier Poncet, on the Commander Kenya Air Force (KAF), Major General Bernard Waliaula, at KAF Headquarters, Moi Air Base, on 30 September 2026. The engagement provided an opportunity for the two commanders to discuss matters of mutual interest and review areas of existing cooperation between the Kenya Defence Forces (KDF) and the French Forces in Djibouti.…

Senior Kenya Defence Forces (KDF) leaders have received prestigious French national decorations in recognition of their distinguished service and contribution to strengthening defence and security cooperation between Kenya and France. During a ceremony held on Tuesday, 29 September 2026, at the Residence of France in Nairobi, the French Ambassador to Kenya, His Excellency Wadid Benaabou, conferred the Legion of Honour (Ordre national de la Légion d’honneur) on Lieutenant General John Omenda and Lieutenant Colonel Michael Gense. Lieutenant General David K. C.…

Africa is spearheading two derisking initiatives: one proving creditworthiness to the global financial system and one reducing exposure to it.

With elections looming early next year, African Business heads to Lagos to ask voters to rate the first term of President Bola Tinubu.

Can Africa build a mutually beneficial relationship with the US that reshapes decades of transactional security relationships? Sobukwe Odinga's Treachery and diplomacy: the shadow politics of US-Africa relations is a fascinating and perhaps overdue book that takes a long, hard look at how Washington has dealt with African allies since the end of World War II, including the years of the Cold War, and the period since. It is a narrative that questions whether the US has truly held the upper hand in the relationship, or whether African leaders have been adept at pursuing their own interests. It is left open to debate whether those interests aligned with those of their peoples.…

The renovation of Abidjan's Félix Houphouët-Boigny Stadium for the 2023 AFCON has created more than a world-class sporting venue. Backed by Afreximbank, the project shows how creative infrastructure can become a year-round commercial asset, generating jobs, supporting tourism and giving Côte d'Ivoire's sports and entertainment industries a platform to grow.