The best business and economy news from Africa

Provided by AGP

Got News to Share?

AGP Executive Report

Your go-to archive of top headlines, summarized for quick and easy reading.

Note: These AI-generated summaries are based on news headlines, with neutral sources weighted more heavily to reduce bias.

Dubai Property Probe: Nigeria’s political elite is linked to at least $7bn in Dubai real estate, with investigators tracing 1,824 assets across multiple datasets over more than a decade—though hidden ownership structures mean the real total is likely higher. Ebola Alarm: In DR Congo, authorities have suspended flights to Bunia as the Bundibugyo strain spreads, with health ministers warning that contact-tracing is lagging and cross-border risk is rising; the US is also stepping up screening and emergency support. Digital Finance Trust: Ghana’s central bank governor says digital finance won’t transform economies without trust, urging regulators and market players to prioritise credibility, transparency, and consistent conduct. Tech Funding Push: The Africa Finance Corporation backs a $100m push to fund African-managed tech firms and reduce reliance on non-African investors. Nigeria Politics: South Africa’s Tokyo Sexwale renews pressure on Ramaphosa over Phala Phala, while Nigeria’s Atiku tells ADC delegates to pick a candidate with proven governance capacity ahead of 2027. Airline Disruption: Royal Air Maroc suspends 12 routes citing soaring fuel costs.

Ebola Response: The UN has released $60m from its Central Emergency Response Fund to speed up containment in DR Congo and nearby countries as officials warn the outbreak could cross borders. Counterfeit Crackdown: Zimbabwe is weighing a tougher counterfeit Act to protect local industry and consumers as fake imports threaten health, jobs and tax revenue. Digital Finance Boost: A Ghana study finds mobile money and other digital tools help small firms compete when used daily—not just for payments—improving efficiency and customer service. Payments Integration: Ghana’s central bank chief Johnson Asiama urged integrated African payment systems (including stablecoins) to cut cross-border costs and speed AfCFTA trade. Political Signals: Senegal’s President dissolved the government and fired PM Sonko amid months of tension, while Zimbabwe begins final preparations for UN Security Council elections. Business & Trade: Lagos is set to host an ICC Africa arbitration conference, and Nigeria approved five deep seaport projects to reduce cargo losses. Regional Integration Mood: Caricom’s internal dispute over its SG is spilling into a wider debate on how assertive member states are becoming.

Ghana Politics & Economy: President John Dramani Mahama says Ghana has rebounded fast, jumping from Africa’s 11th to 8th largest economy, citing lower inflation and stronger reserves during his “Resetting Ghana” tour. Northern Ghana Pressure: Mahama also links persistent underdevelopment in the north to rural-urban migration that is straining housing, roads, schools and healthcare in the south. Tanzania Energy Push: Mantra Tanzania is accelerating the Mkuju River uranium project, moving from pilot testing into preparations for the main industrial complex. Regional Trade Friction: Tanzania says it’s tackling non-tariff barriers with neighbours, including resolving issues on beer duties and seed movement with Kenya. Payments & Integration: Bank of Ghana Governor Johnson Pandit Asiama calls for integrated African payment systems to cut cross-border transaction costs, with work exploring stablecoins. Elections Heat (Nigeria): ADC presidential politics is getting louder—Rotimi Amaechi’s ticket bid is backed by fresh campaign posters in Katsina, while Omoyele Sowore declares his 2027 run. Mining & Jobs (Tanzania): Ruvuma coal output is opening new markets across Africa and Asia, boosting employment and trade.

Politics in Motion: Senegal President Bassirou Diomaye Faye sacked Prime Minister Ousmane Sonko and dissolved the government, a fresh jolt for a country already wrestling with a debt crunch. Elections Watch: Nigeria’s Omoyele Sowore says he will contest the 2027 presidential race, insisting his party’s primaries are underway and he’s “running to win.” Regional Security: Nigeria’s Navy and NIMASA marked progress under the Deep Blue Project, graduating 177 maritime security personnel as piracy-free momentum boosts confidence in the Gulf of Guinea. Trade & Connectivity: Swissport agreed to buy Swiftair Maroc, pushing into Morocco’s cargo market, while flydubai and Cyprus Airways launched an interline deal routing passengers via Dubai. Energy & Industry: Platinum prices stayed capped near $2,000 as analysts point to hydrogen as a quiet new demand driver; Masdar also signed for battery and inverter supply for Abu Dhabi’s round-the-clock renewables project. Business Climate: IMF urged Africa to reset growth toward private investment and productivity, warning income gains could take decades without reforms.

ICPC Crackdown in Nigeria: Nigeria’s ICPC blocked a high-profile ADC delegation from visiting detained former Kaduna governor Nasir El-Rufai, adding fresh heat to opposition politics and the anti-graft process. West Africa Tax Push: ECOWAS and WATAF deepened ties to strengthen tax administration, harmonisation and regional revenue mobilisation. Liberia Investment Signal: UBA pledged new funding to back Liberia’s development agenda, focusing on infrastructure, energy, digital finance and SME growth. Security in the Sahel: Nigerian troops arrested a woman in Borno accused of supplying logistics to an ISWAP-linked son, with food packs and disguise items seized. Finance Watch: Afreximbank reported a 25% jump in Q1 2026 net income, citing stronger lending and disciplined balance sheets. Energy Debate: A gas-export warning from Africa’s GECF forum: export revenue must be matched with domestic utilisation to avoid shortages and weak industrialisation. Tech & Connectivity: Cameroon’s CAMTEL won international recognition after training 130 fiber technicians—another step toward faster FTTH rollout.

West Africa Coup Reality Check: ECOWAS says it can’t reliably stop coups under today’s multipolar geopolitics, arguing that when it acted in 2012 the world was “unipolar,” but now external backers can shield coup plotters. Ghana Energy Push: Ghana signs a landmark waste-to-energy deal with Canada’s Portage Energy to turn municipal waste into bio-organic pellets, power the grid, and ultimately produce sustainable aviation fuel. Ports as Growth Bottleneck: Nigeria’s ports chief warns Africa can’t hit meaningful growth with outdated infrastructure, calling for deep-sea upgrades and modern tech to handle bigger vessels. China-Africa Trade Shift: China’s zero-tariff policy for 53 African partners is already boosting imports like coffee, while the China-Africa corridor is moving toward industrial and green cooperation. Digital Services: Nigeria launches GovGuide Nigeria, an AI chatbot meant to make government services easier to access in local languages. Mining Scale-Up: Aurum Resources is building a hub-and-spoke gold strategy in Côte d’Ivoire, aiming to turn discoveries into profitable production faster.

Namibia Succession Row: Prime Minister Elijah Ngurare says President Netumbo Nandi-Ndaitwah should be allowed to serve two full constitutional terms, calling current succession talk “premature” and politically aimed at weakening delivery. AI Push in Kenya: At Nairobi’s AI Everything Summit, Gebeya’s Amadou Daffe argues Kenya can become an AI entrepreneurship hub—shifting the focus from big models to building with AI. Ebola Disrupts Diplomacy: The India–Africa Forum Summit in New Delhi is postponed as Ebola concerns in Congo intensify, with safety and participation driving the delay. Ghana Digital Tax Rollout: Trident Digital Tech and the Ghana Revenue Authority move into nationwide deployment of a digital tax and MSME formalisation platform, targeting large-scale business registration and compliance. Trade Pressure in South Africa: Sacci reports fuel-price shocks are raising input costs and worsening trade conditions, even as inflation hasn’t fully caught up. Ebola Response Strain in Congo: Aid groups warn the outbreak is “gaining momentum,” with shortages of supplies, staff, and isolation space as suspected cases rise. Botswana Copper Targets: Botswana Minerals’ AI-assisted review flags 36 copper anomalies across six exploration corridors, setting up next fieldwork and drilling prioritisation.

AI & Digital Trade Push: Kenya, Morocco and Nigeria are set to pilot the AfCFTA’s ADAPT digital trade system, aiming to cut cross-border friction by sharing trade data, payments and digital identity. Payments & AI Readiness: Visa launched its “Agentic Ready” programme in the UAE to help issuers test AI-driven transactions in a controlled production setting. Ebola Watch: WHO declared the Central Africa Ebola outbreak a public health emergency as cases rise and travel curbs tighten. Business & Jobs: Lagos was ranked Nigeria’s top state for ease of doing business, while Exyn Technologies (a Philly drone/robotics firm) went public to fund growth. Logistics & Industry: Hellmann and MAS Holdings unveiled a new Sri Lanka fashion logistics hub near the airport, and Fujairah Terminals signed land leases to expand logistics capacity. Migration Pressure: Sierra Leone received US-deported migrants under ECOWAS arrangements. Energy Shock Context: The UN cut its 2026 global growth forecast to 2.5%, citing Strait of Hormuz disruption and higher prices.

Unmanned Systems Deal: BraveX Aero and Romaero signed a cooperation MoU at Romania’s BSDA 2026 to build and scale unmanned aerial systems and composite aerospace structures for Europe’s defence and security market. Corporate Shake-up: UK-listed Princes Group CEO Simon Harrison will step down on 30 June, with Giuseppe Mastrolia taking over as interim CEO from July. Energy & Cost Pressure: South Africa’s Kwikot is warning buyers off refurbished or second-hand geysers, citing non-compliance and safety risks; in Kenya, transport operators are protesting fuel price hikes after EPRA-linked increases tied to geopolitical tensions. Migration & Nuclear Cooperation: Sierra Leone says it will accept US-deported migrants from ECOWAS states (up to 300 a year), while Samia Suluhu Hassan pushes broader African cooperation on nuclear power and Rwanda signs on for SMR-300 deployment. Digital Payments: PayPal expands access to its PYUSD stablecoin to 70 markets, including parts of Africa, aiming to speed cross-border transfers.

Digital Infrastructure Leap (DRC): DE-CIX and NGO Internet Pour Tous have expanded the Africa Congo Internet Exchange (ACIX) with a new datacentre presence at OADC Texaf’s Kinshasa FIH1 facility—positioning the DRC for cheaper, higher-quality connectivity and a central-DRC regional hub. Energy Push (Rwanda/Kigali): Tanzania’s Samia Suluhu Hassan urged African governments to build reliable, affordable power for industrialisation, backing long-term energy solutions at the Nuclear Energy Innovation Summit for Africa. Nairobi Sanitation Upgrade: Zoomlion Kenya says it has cleared 55,000+ tonnes of Nairobi waste since March, targeting legacy dumpsites and scaling transfer stations and a Ruai processing facility. Trade Momentum (AfCFTA): AfCFTA’s Wamkele Mene says protectionism makes faster implementation urgent, citing intra-African trade rising to $220bn in 2024. Cybercrime Crackdown (MENA): INTERPOL’s Operation Ramz saw arrests and disruption of malicious infrastructure, with Team Cymru supporting the effort. Kenya AFCON Readiness: Kenya faces an extra Sh11.02bn funding gap to finish key 2027 AFCON stadiums, raising co-hosting concerns.

Kenya Revenue Shake-Up: Adan Mohamed Abdulla has been appointed Commissioner General of the Kenya Revenue Authority, a high-stakes post as the country leans harder on domestic revenue and institutional credibility. China Trade Boost: China’s zero-tariff exports for 53 African countries kicks in from May 1, with Kenya positioned to gain competitiveness after an early-harvest deal signed with Beijing. Retail vs Townships: South Africa’s Small Business Development Minister Stella Ndabeni tables a R3bn budget to protect spaza shops, accusing big retailers and illegal traders of squeezing local entrepreneurs. AI Skills Push: AISCA Foundation launches in Kigali to tackle Africa’s AI compute and skills gap, backed by Cassava Technologies. Ebola Response Clash: Africa CDC warns against U.S.-style Ebola travel bans, arguing isolation measures can damage economies without proportional public-health gains. Zambia Mining Diversification: ZCCM-IH forms a gold exploration joint venture, aiming to formalise artisanal mining and build local processing capacity.

AI Infrastructure Shift: Dell is now the on-premises route for OpenAI’s Codex, plugging into the Dell AI Data Platform so enterprises can run frontier coding tools inside their own facilities. Transport Shock in East Africa: Kenya’s massive fuel-price protests escalated into a nationwide transport strike, leaving commuters stranded and schools shut. Public Finance & Property Costs: South Africa’s Sapoa warns Mangaung against waste-tariff changes that link charges to property value, after a Cape Town court challenge. Health Security: WHO says the world is not keeping up with pandemic risk, as Ebola in Central Africa keeps driving emergency-level concern. Ebola/Regional Alerts: WHO declared an Ebola outbreak in DR Congo an international emergency, raising the stakes for cross-border health systems. Trade & Integration: APEC China 2026 is drafting a roadmap for collective actions on trade, connectivity and innovation. Digital Sovereignty: South Sudan launched a Chinese-built air traffic management system, while Iran’s cable-threat talk adds pressure to Africa’s digital infrastructure debates. Energy & Industry: Cameroon finally secured CFA130.4bn for the long-delayed Ebolowa–Kribi highway, a logistics boost after 15 years.

SME Boost in Nigeria: The AfDB has approved a $200m facility for the Bank of Industry to expand medium- to long-term financing, with a target of at least 30% for Nigerian SMEs—especially women and young entrepreneurs—plus support for climate-resilient, low-carbon projects. Housing Finance Push: Kenya’s Ruto is calling for global financial reform so African countries can access cheaper concessional credit for affordable housing as urbanisation accelerates. Ghana Agribusiness Push: Access Bank, with IFC, disbursed about GH₵1bn to back cocoa production and purchases via Licensed Buying Companies, aiming to strengthen export earnings. East Africa Energy Plan: Uganda backs a proposed $17bn regional oil refinery by Aliko Dangote, pitching it as a regional integration and value-add move. Health Sovereignty Under Strain: Africa CDC warns Ebola and other outbreaks are colliding with a sharp drop in donor support, pushing countries toward self-reliant health financing. Digital Finance Regulation: Kenya’s crypto industry urges faster stablecoin adoption as regulators draft virtual asset rules.

Mega-Event Traffic Control: Delhi Traffic Police is coordinating with Google Maps/MapmyIndia to block VIP routes and reroute commuters for the India-Africa Forum Summit and the first International Big Cat Alliance Summit at Bharat Mandapam (May 28–June 2). Human Rights & Reparations: A UN slavery-resolution push argues colonial harm needs tailored restitution, rehabilitation, compensation and guarantees of non-repetition—not one-size-fits-all payouts. Digital Identity & Data Sovereignty: A new report says several African states have more advanced digital-ID laws than parts of the G7, but implementation gaps and risky system design still threaten privacy and control. Ebola Escalation: WHO has declared the Congo and Uganda Ebola spread a global health emergency, warning of uncertain scale and geographic reach. Finance & Industry: Dangote says Ethiopia investment tops $4bn, while Nigeria’s AfDB-backed BoI facility adds $200m for SME and industrial financing. Corruption Crackdown: South Africa’s Hawks arrested a trio over alleged R26m Covid-19 TERS “ghost employee” fraud.

Public Health Emergency: WHO has declared the Ebola outbreak in DR Congo and Uganda an “extraordinary” public health emergency of international concern, after suspected cases and deaths surged—DR Congo’s Ituri province is at the center, with confirmed cases and cross-border travel-linked cases in Kampala. Security & Enforcement: South Africa’s Operation Shanela II delivered 545 arrests in a province-wide crackdown, targeting crimes from drugs and illegal liquor to violence. Energy & Infrastructure: Uganda and Tanzania’s East African Crude Oil Pipeline is over 70% complete, and regulators say construction is tracking expectations for possible oil transport on schedule. Finance & Business: Nigeria’s AfDB-backed $200m facility for the Bank of Industry aims to unlock long-term “patient capital” for SMEs in sectors like agro-processing and green industry. Politics & Accountability: Nigeria’s SERAP urged INEC to investigate allegations that APC governors diverted N800bn for campaign purposes. Banking Legal Shock: Ecobank Ghana moved to calm fears after a Supreme Court ruling upheld a major interest payout precedent in an 18-year dispute.

Digital Regulation Clash: Iraq’s communications regulator has urged TikTok to comply with local rules and tackle alleged money-laundering-linked accounts, promising monitoring reports and inviting the platform to Baghdad after earlier talk of a ban. Digital Sovereignty Push: At ID4Africa, speakers—backed by the World Bank—warn that weak safeguards in digital identity systems can break public trust, especially for vulnerable users like refugees and stateless people. Public Health Alarm: Ebola is rising across eastern DR Congo and Uganda, with cross-border spread a key worry as the Africa CDC coordinates response and the US issues travel warnings. Energy & Trade Pressure: With Middle East tensions keeping oil risk elevated, Libya markets itself “open for business” to unify its oil sector, while West Africa sees more maritime activity as ships reroute around Hormuz disruptions. Markets & Policy: South Africa extends public comment on draft capital flow rules to June 30, while Nigeria’s NGX ends the week higher and inflation pressure continues to test reforms.

Central African Republic Politics: Felix Moloua has been reappointed prime minister, returning to the post he has held since 2022 after President Touadéra’s re-election. Diplomacy & Domestic Debate: Nigeria’s presidency pushed back on Peter Obi’s criticism of Tinubu’s Rwanda trip, saying the delegation was packed with industrial leaders and aimed at investment, not “flashy headlines.” Resources & Sovereignty: Rwanda’s Kagame urged Africa to unite to stop being “ripped off” on critical minerals and to process more at home. Digital Connectivity: Uganda granted Starlink an operating licence, while a Kigali report warns Africa risks dependence unless it builds its own satellite and digital infrastructure and tightens regulation. Insurance Innovation: Zimbabwe launched an insurance regulatory sandbox with IPEC and FSD Africa to expand coverage and test new products. Trade & Transport: Tanzania’s ATCL plans direct flights to Moscow later this year under a Russia deal. Security: Nigeria and the US said a joint raid killed an ISWAP senior leader in Borno. Tech Scaling: PwC warned many African firms are stuck in AI “pilot mode,” with pilots rarely scaling into real returns.

Fuel Shock in Kenya: Trade lobbies are warning that EPRA’s latest diesel jump—up Sh46.29 to Sh242.92 in Nairobi—will ripple through transport, farming, manufacturing and household costs, with KNCCI blaming both global oil disruptions and Kenya’s own taxes and levies. Ghana’s Growth Pivot: The IMF tells Ghana to use its “fiscal space” from stabilisation to fund investment and jobs as the country exits its 3-year US$3bn ECF programme. Zimbabwe Courts a New Era: President Mnangagwa appoints Justice Elizabeth Gwaunza as Zimbabwe’s first female Chief Justice, with Justice Paddington Garwe named Deputy Chief Justice. Health Manufacturing Push: Gavi plans AVMA+ with US$189m in extra support and guaranteed demand for up to 70m doses from African-made vaccines. Regional Mobility Boost: Nigeria starts a 30-day visa exemption for Rwandans, reciprocating Rwanda’s move. Aviation Setback: Air Botswana suspends the Gaborone–Windhoek route due to losses and pilot shortages. Africa Business Momentum: Heirs Holdings’ insurance units land top spots on Financial Times’ Africa fastest-growers list, while Nigeria’s auto spare parts dealers renew calls for a government partnership to industrialise the aftermarket.

Food Security Warning: Kenya’s seed watchdog KEPHIS says counterfeit and uncertified maize seed could wipe out up to half of farmers’ expected harvests, pushing food insecurity higher; the agency is pushing scratch-code verification and enforcement against fake sellers. Deal-Making Push: Sri Lanka is stepping up talks with the UAE on ports, aviation and trade, aiming to stabilize its post-crisis economy and deepen a relationship worth about $1.5bn a year. France’s Africa Reality Check: Macron admits France has lost ground in Africa to Türkiye, China and the US, blaming complacency and overreliance on old ties. Nigeria Accountability: A former power minister, Saleh Mamman, was sentenced to 75 years for laundering about ₦33.8bn. Energy & Trade Shock: Ecobank’s CEO warns the Iran war is already pausing investment decisions across Africa, with knock-on effects for trade flows. Business Politics: Tinubu says he’ll “support” big firms like Dangote and BUA to keep production and jobs moving. Security & Diplomacy: AU and UN leaders warn external interference is fueling Africa’s conflicts through weapons, funding and political backing.

Trade Boost: China’s expanded zero-tariff access for African goods—now covering all African countries with diplomatic ties—kicks in May 1, aiming to lift export competitiveness for products like coffee, cocoa and avocados. Governance Trap: A new look at how weak institutions and public-finance failures keep countries stuck in low-growth cycles, with Africa losing billions to illicit flows, corruption and costly risk pricing. Business Momentum: Unifreight reports strong Q1 earnings and pushes expansion in Zimbabwe’s logistics market, while Ecobank pledges $3bn in trade finance to speed intra-African commerce. Policy Signals: Zimbabwe’s Treasury flags measured interest-rate cuts ahead, and Zambia signs deals to improve export certification and track trade digitally. Africa Forward Fallout: At the Africa CEO Forum, leaders—including Kagame—pressed for Africa to stop being treated as a resource reserve and to demand fairer global terms.

Sign up for:

Africa Business Watch

The daily local news briefing you can trust. Every day. Subscribe now.

By signing up, you agree to our Terms & Conditions.

Share us

on your social networks:

Sign up for:

Africa Business Watch

The daily local news briefing you can trust. Every day. Subscribe now.

By signing up, you agree to our Terms & Conditions.