AGP Executive Report

Energy & Industry: Sungrow is deepening Egypt’s clean power push with a new energy storage plant in the Suez Canal Economic Zone (10GWh capacity, operations from June 2027), supplying projects including Abydos Phase II in Aswan. Digital Finance: Ericsson and FIS are teaming up to simplify wallet-led digital financial services by pre-integrating payments and card-issuing with Ericsson’s fintech platform. Cyber Risk: Swiss Re warns AI is amplifying existing cyber threats, while the protection gap and underinsurance remain major issues for African and global firms. Clean Cooking Finance: Carbon credit financing is emerging as a key lever for scaling affordable clean cookstoves across Africa, with new commitments reported by the IEA. Mining & Commodities: Malawi’s rare-earth and critical-minerals boom could reshape its economy, but experts stress the need for stronger institutions and local processing. Capital Markets & Business Climate: Nigeria’s Uber exit is framed as a warning for the e-hailing and MSME ecosystem amid cost pressures and policy uncertainty. Trade & Connectivity: Oman and Rwanda are expanding economic ties via air connectivity (direct SalamAir flights) and logistics partnerships, targeting sectors from tech to mining. Security: A South African mechanic is among civilians reportedly taken hostage by Mozambique rebels linked to Cabo Delgado insurgents. Policy & Representation: The UN General Assembly backs “Equal Earth” map corrections, with the US voting against.

UN Map Vote: The UN General Assembly backed Togo’s “Correct the Map” push, voting 164-1 to encourage equal-area projections like Equal Earth so Africa is shown closer to its real size, with the US the lone no vote. Capital Markets: Nigeria’s SEC has approved Dangote Refinery’s IPO, potentially raising about ₦2.15tn, as Africa’s biggest share sale gears up for an order book opening Sept. 14. Energy & Industry: Kenya says it will stop exporting raw materials and instead process and add value locally, aiming to shift away from extractive gains. Tech & Jobs: Somalia launched the Bile Initiative 2026 to bridge ICT education and employment, training final-year students in software development, AI, cloud and analysis. Transport & Platforms: Uber shut down ride-hailing in Nigeria after 12 years, triggering mixed reactions over commuter disruption and driver livelihoods. Human Trafficking Prevention: Next2None and NAPTIP signed an MoU for Africa’s first international fashion-for-social-impact campaign, “Threads of Resilience: Fashion for Freedom,” running 2026-2034. Business Climate & Trade: Stakeholders at Nigeria’s Cycling Lagos webinar urged stronger enforcement, financing and infrastructure to unlock recycling as an economic resource. Regional Governance: ECOWAS and EAC parliamentary bodies discussed a network to coordinate responses on security, migration, climate and economic integration.

UN Map Overhaul: The UN General Assembly voted 164-1 to move away from the Mercator projection and adopt Equal Earth, aiming to show Africa’s true size; Togo says schools will update maps. Nigeria Business Climate: Uber shut down in Nigeria after 12 years, reigniting debate on how hard it is to sustain MSMEs around foreign digital platforms. Kenya Sovereign Wealth Push: Kenya’s Sovereign Wealth Fund Act (2026) is framed as a new “wealth architecture” beyond debt and taxes, while digital health reforms (AI, data systems) are positioned as delivery accelerators. Aviation & Travel Costs: EVA Air will raise excess baggage fees from Sept. 29, and Etihad signed an MoU with ROX to link air travel with Africa mobility experiences. Climate & Capital Markets: NGX began corporate climate baseline assessments under its N-Zero push to unlock green capital; Eswatini’s ESE unveiled Kwakhanya 2030 to reposition the bourse as a wealth engine. Trade & Investment Diplomacy: UAE and Gabon discussed strengthening trade and investment ties, while Nigeria’s government promoted ECOWAS trade liberalisation to boost intra-regional commerce.

UN Map Overhaul: The UN General Assembly backed a resolution to promote the Equal Earth projection, making Africa appear closer to its true size; the US was the only “no” vote, calling it a “radical ideological project,” while Togo says it will update school geography books by end-2026. Debt & Reparations Push: At a Youth Forum in Accra, Kwesi Pratt Jnr and PPF leaders urged African youth to demand debt cancellation and reparations tied to equal rights, resource control and self-reliance. Nigeria Capital Markets: Nigeria’s SEC approved Dangote Refinery’s IPO, kicking off what could be Africa’s biggest share sale, with the order book set to open Sept 14. Payments Deal: Saudi PayTabs agreed to acquire Amazon Payments MENA for $100m+, aiming to consolidate regional payments infrastructure. Trade & Growth: Nigeria launched ECOWAS/AfCFTA sensitisation workshops to help businesses use ETLS trade opportunities. Health Workforce: Nigeria’s ophthalmology society warned that ophthalmologist migration could cost the economy about $150,000 annually. Climate Finance for Farmers: IFAD and Equity Group launched a $200m East Africa mechanism to expand rural climate adaptation funding for smallholders and MSMEs.

UN Map Overhaul: The UN General Assembly backed Togo- and African Union-led “Correct the Map” resolution, urging governments, schools and tech firms to use equal-area projections like Equal Earth that show Africa at its true scale; 164 countries voted in favour, the US opposed, and the move is non-binding (Mercator can still be used for navigation). Climate Finance for Farmers: Uganda is set to benefit from a $200m (about Shs755bn) ARCAFIM scheme launched at the Africa Food Systems Forum, targeting smallholders and rural MSMEs across Uganda, Kenya, Tanzania and Rwanda with support for irrigation, water harvesting, storage, renewable energy and climate-resilient agro-processing. Dangote Refinery IPO Cleared: Nigeria’s SEC approved Dangote Refinery’s IPO, potentially raising about N2.15tn, with the offer expected to open September 14. Kenya vs Tata Chemicals: Kenya ordered Tata Chemicals to “pack and go” from Lake Magadi, citing unpaid royalties and failure to deliver local benefits; the company says it is compliant and awaits review. Uganda Agritech Win: SANDI AI Technologies won the GoGettaz Agripreneur Prize, taking about Shs190m to expand AI-driven agricultural finance for smallholders. Pan-Arab Media Deal: Egypt’s MAD Solutions partnered with IRTH to develop and produce pan-Arab drama for regional and international markets. Corruption Court Case: EFCC arraigned two people in Lagos over alleged £110,000 and ₦500m fraud, with the matter adjourned for bail hearing. Remittances Expansion: JN Money Services partnered with Africa’s WapiPay to expand cross-border transfers and trade-linked payments into Jamaica.

Dangote IPO Watch: Nigeria’s Dangote Petroleum Refinery has SEC clearance to launch an IPO of 4.1 billion shares at ₦525 each, targeting about $1.6bn; the order book is expected to open Sept. 14 and listing could be among the biggest in Africa, with proceeds aimed at doubling capacity to 1.4m bpd and expanding into East Africa. Climate & Capital Markets: Nigeria’s NGX has started corporate climate baseline assessments under its N-Zero initiative, helping firms measure emissions, plan transitions and tap emerging carbon-market opportunities. UN Map Push: The UN General Assembly voted to move away from the Mercator projection toward Equal Earth to better reflect Africa’s true size, with African states leading the campaign. Food Systems & Soil Health: At the Africa Food Systems Forum in Kigali, private-sector players warned that degraded soils threaten yields and urged better fertiliser use, reforms to subsidy payment delays, and stronger sustainable soil management. Energy Security (Tanzania): Tanzania is pushing for more investment and local participation in energy, while also accelerating SGR rail links to boost connectivity by 2030. Agribusiness Finance (Rwanda): IFAD, Bank of Kigali and Aceli Africa backed a $21m blended-finance programme to expand credit access for farmers’ organisations and smallholders, including women and youth. Mining & Industry (Namibia): TotalEnergies completed a deal with Galp, making it operator for Namibia’s Mopane discovery and strengthening its position in the Orange Basin. Infrastructure for Industry: Vertiv will showcase critical power and digital infrastructure solutions for Africa’s mining sector at Electra Mining Africa 2026 in Johannesburg.

African Finance & Markets: Nigeria’s stock market bounced back, adding about N239bn as buying returned to key names like Seplat Energy and UPDCREIT, even as overall market breadth stayed mixed. Credit Ratings: President Bola Tinubu backed the AU’s African Credit Rating Agency, set to launch Oct 7, saying AfCRA must win global investor trust through independence and rigorous, fair assessments. Digital Economy & Payments: Nigeria is being urged to lead Africa in digital finance and tokenised assets, with the focus shifting from adopting tech to building local regulatory and trust systems. Ride-hailing Shake-up: Uber has exited Nigeria after 12 years, and inDrive says it will keep investing and recruit drivers across multiple cities—while workers’ groups warn the change won’t help without better terms. Regional Trade & Security: ECOWAS integration took a hit after Burkina Faso, Mali and Niger left, weakening protocols for moving goods and services; border management is flagged as a key fix. Mining & Investment: Uganda is pitching its $4tn–$12tn mineral potential to global investors, aiming to boost mining’s role in the economy. Food Systems: West Africa’s rice push gets renewed calls for regional collaboration as the region still imports heavily. Energy & Industry: NASENI demonstrated solar irrigation pumps in Kano to cut dry-season costs and reduce reliance on fuel volatility. Business & Governance: Nigeria’s government says it will protect Nigerian investments in Angola, while also stressing traders must follow local laws.

Oil Theft Tragedy (Nigeria): A Rivers State pipeline theft in Nigeria’s Niger Delta left at least 37 dead after people inhaled fumes from “Indorama fuel,” with many missing, as illegal tapping and crude refining continue to fuel deadly accidents and pollution. Finance Sovereignty (AU): Nigeria’s Tinubu welcomed the AU’s plan to launch the African Credit Rating Agency on Oct 7, arguing Africa needs fair, locally grounded risk assessments backed by independence and transparency. Insurance Recap (Nigeria): African Alliance Insurance set Sept 23 for an EGM to seek approval to raise up to N12bn and, if needed, sell assets to meet recapitalisation rules. Mining & Cyber (Zimbabwe): Rockwell Automation will support Mimosa Mine’s digital migration in Zimbabwe, focusing on OT network upgrades, cybersecurity risk management, and operational resilience. Trade & Industry Dispute (Kenya): Kenya’s Ruto ordered Tata Chemicals Magadi to stop operations and leave, saying the firm failed to deliver enough local value addition; two replacement companies are set to take over. Digital Health (Nigeria): UbuntuCare says it will help connect citizens and primary healthcare across Nigeria’s 774 local governments through a digital platform plus community support. Women’s Finance (AfDB/AXIAN): AfDB and AXIAN launched a digital finance program for women-led businesses across Madagascar, Tanzania, Senegal, Togo and the Comoros, combining lending, training and business support. Regional Integration (Borders): An AU border-focused argument says integration must start at border communities, where cross-border insecurity, climate stress and trade realities demand cross-border solutions. Sickle Cell Treatment (Senegal): A Senegalese firm, Teranga Pharma, is producing a generic hydroxyurea treatment for sickle cell disease, aiming to improve access across Africa. Business Climate Debate (Nigeria): Nigeria’s Uber exit is being framed by the ADC as proof the country is becoming a “graveyard of businesses,” citing rising costs and weak translation of GDP growth into everyday relief.

Food & Climate Tech: CGIAR showcased scalable, investment-ready innovations at the Africa Food Systems Forum, including digital fertilizer advice boosting yields in Ethiopia, climate-smart bundles for women farmers in Kenya, and a financing model targeting $1.5bn for agrifood innovation across Nigeria, Ethiopia and DR Congo. Renewables & Storage: CrossBoundary Energy’s solar-plus-battery plant near Kolwezi in DR Congo is delivering bankable, round-the-clock power for Kamoa Copper—an execution benchmark for Africa’s industrial energy transition. Energy Storage Manufacturing: Sungrow launched a 10GWh energy storage facility in Egypt’s Suez Canal zone, aiming to support Egypt’s solar-plus-storage pipeline and deepen local supply chains. Tax Policy Debate: A Ghana economist-cleric urged re-engineering and reintroduction of the e-levy to fund development, arguing digital activity should be leveraged for revenue. Aviation Costs: Nigeria’s airline industry is pushing for lower aviation charges and taxes to make airfares more affordable. Regional Power Tensions: Egypt hardened its stance as Ethiopia plans more Nile dams, raising concerns over coordination and downstream impacts. Capital Markets: Nigeria’s NGX megacaps added N46.69tn market value in eight months, led by Airtel Africa. Security & Stability: Niger saw rallies backing its army chief after a thwarted mutiny, while Borgu residents in Nigeria’s Niger State reportedly flee to Benin over insecurity. Mining & Investment: Uganda courted investors at Africa Down Under, pitching its $4tn–$12tn mineral wealth in critical minerals. Infrastructure Climate Finance: AFC’s FIPRE framework is positioned as an operational backbone for its $750m climate-resilient infrastructure fund, including Nigeria’s ICRF Nigeria. Transport & Trade: WIOCC secured $300m for Africa’s digital infrastructure expansion, reinforcing the continent’s push for connectivity.

Ride-hailing shake-up: Uber shuts down in Nigeria and Uganda after 12 years, cutting about 3,300 jobs globally and leaving a more crowded market for rivals to fight over drivers and passengers. Uganda oil milestone: Uganda names its crude blend “Pearl Sweet” ahead of commercial production, aiming to boost value through refining and petrochemicals. Digital start-up funding: Askya launches a zero-equity AI accelerator offering up to $200,000 to 10 African AI startups, backing tools for sectors like finance, health, commerce and agriculture. Agri-food push in Rwanda: Leaders at the Africa Food Systems Forum in Kigali call for urgent investment and stronger public-private partnerships to turn agriculture into jobs and prosperity. Senegal blue-economy move: Senegal begins installing its first offshore aquaculture project, with fish-farming cages off Diakhanor to support seafood supply and jobs. Nigeria policy debate: APC warns that reintroducing fuel subsidies would drain funds from infrastructure and stall reforms. Trade ties: Brazil opens a permanent ApexBrasil office in Addis Ababa to deepen Ethiopia trade and investment links. Regional finance concentration: Togo’s Lomé dominates WAEMU banking holding-company assets, with Ecobank at the center of the hub. South Africa costs: Fuel prices rise again, threatening broader inflation through transport and logistics. Zambia politics: Hichilema starts a second term after the Aug. 13 vote, but observers flagged uneven conditions and transparency concerns.

Nigeria Economy & Policy Push: Nigeria’s government says the economy is on track for a $1tn target by 2030, with reforms and investment in infrastructure and human capital at the centre of the plan. Agribusiness Modernisation: Nigeria’s agricultural sector still contributes only 3.15% to GDP (Q1 2026), and the Abuja Chamber of Commerce and Industry is pushing mechanisation and export-quality production ahead of AGROMEQA EXPO 2026. Digital Finance Growth: FirstBank says it is disbursing over N1bn in digital loans daily, citing faster access to credit and wider financial inclusion. Energy & Investor Returns: Seplat targets $1bn in dividends over the next four to five years and aims to lift output to 500,000 bpd. Education Benchmarking: Nigeria plans a homegrown ranking system for tertiary institutions, expanding beyond universities to polytechnics and colleges of education. AfCFTA Digital Trade: AfCFTA and Quest Ghana sign up to build an AfCFTA Digital Trade Corridor to boost intra-African digital commerce. Fintech & Telecom Momentum: MTN fintech moves to accelerate digital financial inclusion, while MTN also explores banking licences in select markets. AI Advertising Expansion: OpenAI rolls out ChatGPT Ads to MENA, giving regional advertisers self-service access as its ad business hits $1bn annualised revenue run rate. Regional Digital Infrastructure: WIOCC secures $300m to expand Africa’s digital backbone. Insurance Capital Raise: Continental Reinsurance plans Botswana’s first IPO in almost a decade to expand underwriting capacity across Africa.

Digital Infrastructure Funding: WIOCC secured $300m from Africa Finance Corporation and Vision Invest to expand Africa’s open-access data centres, fibre and subsea assets. Nigeria Growth Watch: Nigeria’s real GDP grew 4.43% in Q2 2026, lifting H1 growth to 4.16% as manufacturing, agriculture and services all strengthened. Energy & Security: Egypt offered Burkina Faso counterterrorism support while also pushing a business forum to turn security ties into investment. Regional Politics: Nigeria urged ECOWAS to re-engage Alliance of Sahel States countries (Burkina Faso, Mali, Niger) to deepen dialogue for peace and integration. Housing Pressure: A report says only 31% of Lagos residents own homes as rents rise, with most living in rented accommodation. Tech for Learning: Epson is exploring solar-powered printing and projection for rural Kenyan schools to tackle unreliable electricity. Shipping & Sanctions Risk: A report says Russia’s “shadow fleet” exploits weak African shipping registries to keep exporting oil and funding the war. Food Systems: Africa Food Systems Forum opened in Rwanda, spotlighting financing, climate resilience, post-harvest losses and market access. Elections in Zambia: President Hakainde Hichilema was sworn in for a second term as opposition leader Brian Mundubile remains detained. Identity & Compliance Tech: Shufti topped G2’s Fall 2026 identity verification rankings, adding momentum for AML and onboarding tools.

OpenAI Ads & IPO Prep: OpenAI says ChatGPT Ads hit a $1 billion annualised revenue run rate in under 200 days, expanding self-serve buying to India and rolling out across Europe, the Middle East and North Africa as it gears up for a major IPO. Digital Payments & Stablecoins: OrbitX launched native QR payments in Vietnam and the Philippines using self-custodial stablecoin balances, aiming to cut the friction between digital holdings and everyday merchant spending. Energy Access (Nigeria): All On and Energise Africa will deploy $4m solar mini-grids to electrify 100,000 people across 19 communities in Jigawa and Bauchi, targeting jobs and local business activity. Business Continuity (Qatar-based, Africa footprint): QNB Group renewed ISO 22301 business continuity certification, highlighting resilience and uninterrupted service across its international network. China–Egypt Economic Ties: Xi Jinping’s Egypt visit marks a decade since his last trip and comes as both sides push deeper cooperation amid Global South priorities. Niger Security: Gunfire and explosions shook Niamey near the airport and military airbase, underscoring ongoing instability under Niger’s military government. Kenya Sports Development: Kenya topped the ANOCA Zone V Youth Games in Nairobi with 50 medals, with a push to turn the momentum into Dakar 2026 preparations. Drylands Value: A report argues drylands across Africa and the Sahel are productive hubs for key commodities—gum arabic, frankincense, shea—challenging the idea they’re empty.

Cybersecurity for SMBs: Kaspersky warns that in Africa’s META region, 82% of small and mid-sized businesses faced cyber incidents in the past year, with spyware, password-stealers and backdoors rising—plus 1.6m online attack attempts blocked in Nigeria in H1 2026. Skills & jobs: YES-PACT (Mastercard Foundation/ACET) highlights TVET reforms across Ghana, Niger, Rwanda, Ethiopia and Uganda, including Uganda’s TVET Act and Ethiopia’s updated TVET strategy. Digital economy push: Nigeria’s SGF urges higher AI investment at GITEX Nigeria, framing the goal as moving from tech consumption to building and exporting AI solutions. Trade & finance: Afreximbank appoints senior executives to strengthen regional operations and client engagement to accelerate intra-African trade. Housing finance: Housing Finance Bank links Uganda’s “tenfold growth” ambition to mobilising capital for businesses, housing and infrastructure. Maritime standards: IMO and Ghana Maritime Authority partner to improve seafarer certification assessment and exam integrity ahead of 2027 audits. Agriculture incomes: AGRA says Africa’s production gains haven’t translated into reliable farmer incomes, calling for the next phase to focus on value, resilience and shock-proof livelihoods. Regional politics: ECOWAS begins a new chapter with renewed unity efforts as Birame Diop assumes office, engaging the Sahel bloc.

Automotive Localization: GAC and Egypt’s Jameel Motors signed a technical cooperation deal in Cairo to start local vehicle production, aiming to cut delivery times, build jobs, and deepen Egypt’s auto supply chain. Tax & Revenue Policy: Ghana will host West Africa’s WATAF high-level policy dialogue and general assembly in Accra (Sept 15–19) to push stronger tax administrations for sustainable development. Ghana Investment Push: Ghana’s priority sectors will be showcased to global investors via an Oxford Business Group video series backed by GIPA and President Mahama. Public Health & Access: Senegal became the first African country to locally manufacture a generic sickle cell treatment (DREPAF), boosting affordability and access. Ports & Trade Efficiency: Nigeria’s NPA says a $1bn port modernisation drive targets obsolete infrastructure, congestion and weak automation that cost the country over $1tn yearly. Housing Crunch: Abidjan residents report worsening rental unaffordability, with UN Habitat warning that rent is consuming too much of incomes. Urban Enforcement: Lagos’ waste agency plans enforcement along the Ajah–Lekki corridor after repeated environmental violations. Nigeria Remittances: July remittances hit $947m via formal channels, nearing CBN’s $1bn monthly target. Energy Finance: Pivot Integrated Energy’s N100bn CP issuance was oversubscribed, marking its debut entry into Nigeria’s debt capital market. Tourism Governance: ECOWAS adopted a framework to strengthen tourism business associations across West Africa. Sports Administration: Nigeria’s football federation leadership is reshuffled with an interim general secretary endorsed by the National Sports Commission.

Fuel Subsidy Showdown in Nigeria: APC chair Nentawe Yilwatda warned that Atiku’s 2027 plan to restore petrol subsidy could revive queues and reverse reform gains, arguing Nigerians should ask who pays and what it does to salaries, services and state finances. Petrol Prices Keep Moving: Dangote Refinery raised ex-depot petrol price to N1,265/litre, with Abuja pump prices also ticking up, adding pressure for consumers and marketers. Energy Theft Crackdown: Nigeria’s power minister ordered a transparent, science-based probe into up to 100MW unaccounted losses on the Ikorodu–Sagamu corridor, after estimated ₦120bn annual losses. Ghana Plastics Policy: Ghana’s EPA said the styrofoam ban is the first phase of a single-use plastics crackdown, citing drain blockage and health risks. Sahel Security Signals: Russia said it helped repel a Niger coup attempt, while the Alliance of Sahel States framed it as betrayal—highlighting shifting security partnerships. Morocco Peace Agenda & Defense Push: Morocco reiterated peace and stability as a strategic choice, while MAS 2026 in Marrakech is set to draw major aerospace and defense players. ECOWAS Peacekeeping Record: ECOWAS unveiled books documenting two decades of peace interventions in West Africa, aiming to sharpen future conflict-resolution work. Ghana-Nigeria Cultural Trade Links: Ghana’s World Hausa Day drew Senate leaders urging youth to preserve heritage while strengthening economic ties.