Africa

Presidents Al-Sisi and Mahama met in New El-Alamein on 4 October to discuss stronger trade and investment links as Ghana prepares to chair the African Union in 2027.

A CBN Business Expectations Survey for July 2026 found 70.8% of Nigerian firms see high and multiple taxation as their most pressing constraint, ahead of insecurity and interest rates.

Kenya has raised $297 million in startup funding so far in 2026, making it Africa’s fourth-biggest market, with much of the money coming as debt and asset-backed deals.

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.