News from across Africa covering business, markets, policy and development in North, West, East, Central and Southern Africa.
Afreximbank reported a 25% rise in net income for the first quarter of 2026, and South Africa’s ratification in February gave the bank full continental coverage.
Kenya’s economy expanded 5.1% year on year in the second quarter of 2026, up from 4.9% a year earlier, with transport, utilities, ICT and construction all growing.
The IMF kept its 2026 growth forecast for South Africa at 1% while raising sub-Saharan Africa to 4.5%, as oil prices and weak investment slow the recovery.
Windhoek hosts the International African Energy, Oil and Gas Summit from 20 to 24 October, as Africa’s upstream spending is forecast at $41 billion in 2026.
African startups raised $443.4 million across 13 deals in August 2026, but Moove’s $250 million round made up 56.4% and Nigeria took 81.7% of the total.
South Africa will phase out policy support for semi knocked-down vehicle assembly as it pushes carmakers to raise local content from 38% to 60%.
Kenya’s energy regulator has raised petrol, diesel and kerosene prices for the October to November cycle, with super petrol now at KSh226.96 a litre in Nairobi.
Ethiopia’s central bank has joined the Pan-African Payment and Settlement System, allowing cross-border trade payments in local currencies without the dollar.
US inflation rose to 3.7% in September, lifting bets on another Federal Reserve rate hike and putting fresh pressure on African currencies such as the rand.
Commodity trader Mercuria has delivered 12,000 tonnes of Congolese copper to Project Vault, the US government’s critical minerals reserve.
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