Africa’s richest man, Aliko Dangote, has pledged to support the construction of a new oil refinery in Tanzania. Aliko Dangote has pledged support for building a new oil refinery in Tanzania’s port city of Tanga, aiming to reduce Africa’s reliance on Middle East fuel imports. The refinery will process crude from regional producers and be…
Foreign investors are returning to Nigeria’s stock market after months of caution, driven by improving currency conditions and a broader rally in equities. Foreign investors more than doubled their activity in Nigeria’s stock market in March 2026. Improved foreign exchange conditions and cheaper valuations are drawing global funds back. Local investors still dominate, accounting for…
Globeleq is planning to develop a 250-megawatt solar and battery hybrid power project in Zambia, with completion targeted for 2029. Globeleq plans to build a 250-megawatt solar and battery hybrid power project in Zambia, aiming for completion in 2029. The project includes a 150-megawatt battery system that can provide up to four hours of storage.…
Nigeria’s biggest listed companies have climbed to a record N54.3 trillion in combined market value, or about $40.2 billion, as investors pour money into blue-chip stocks amid hopes of stronger foreign participation and improving economic reforms. Nigeria’s top-tier stocks hit a record N54.3 trillion ($40.2 billion), led by MTN Nigeria, Dangote Cement and major banks.…
Africa is rapidly scaling up solar power, importing record volumes of Chinese panels in 2025 as falling prices and global trade shifts redirect supply toward the continent. Africa imported a record 18.8 GW of Chinese solar panels in 2025. That’s a 48% jump as China redirects supply away from Western markets. Egypt and Algeria led…
In the second week of March, Africa’s second richest man, Johann Rupert, through Remgro, his investment firm, sold 52 million shares (worth a little over $200 million) in one of Africa’s largest listed financial services groups, FirstRand. Johann Rupert’s investment firm, Remgro, sold its remaining shares in FirstRand, divesting a non-core asset worth over $218…
Comments from the president of Kenya, William Ruto, on fuel prices in East Africa may have engendered some friction in the region, as Tanzania recently gave a dramatic response. Kenyan President William Ruto commented that higher fuel prices in Kenya are due to its middle-income economy and extensive road network. Ruto asserted that Kenya’s road…
Africa’s aviation industry is facing mounting pressure as the economic fallout from the war in Iran drives up fuel costs, disrupts flight routes, and threatens the financial stability of several carriers. Africa’s aviation sector is under pressure as the war in Iran drives a sharp rise in global oil and jet fuel prices. Airlines face…
Africa’s private capital market opened 2026 with a surge in value, even as the number of deals slowed, pointing to a shift in how investors are approaching the continent. Africa’s private capital market hit $16.1 billion in Q1 2026 despite a drop in deal volume. Mega deals in Nigeria, including MTN–IHS and Dangote Refinery financing,…
