Nigeria
Nigeria clears $1.6bn Dangote Refinery IPO, testing investor appetite at $47bn valuation
The refinery IPO is a major test of whether Nigeria’s domestic capital market can absorb a record-sized listing as investors weigh Dangote’s expansion plans against crude-supply and margin risks.
Gasgroup targets NGX listing, eyes expansion into refining, power generation, data centres
Gasgroup, a Nigerian energy-services business not currently listed on the NGX, plans to seek admission of its existing shares to the Main Board of the bourse as it pursues expansion into refining, gas infrastructure, and power generation.
Africa Credit Rating Agency created to overcome perceived bias against continent launches October 7
The new agency is being established to complement rather than replace global ratings firms Moody’s, S&P, Fitch, all of which have been accused of bias against African sovereigns and firms.
MTN eyes banking licences as MoMo lending becomes growth priority across Africa
MTN is assessing licences in African markets where it has large customer bases and significant balances held in mobile money wallets.
Sahel lithium boom risks opening new revenue streams for African jihadist groups
King’s College London researcher warns rapid lithium expansion in Mali, Nigeria and the wider Sahel risks creating new revenue streams for jihadist and criminal groups through informal mining, extortion and smuggling.
The strongest El Niño on record will hit food prices from Brazil to Indonesia
The Pacific is warming faster than at any point in the modern record, and central bankers have started writing it into their forecasts.
Cholera outbreaks hit six African countries as DRC battles record Ebola
Cholera is racing along west and central Africa's rivers and trade routes, with active outbreaks in six countries and millions of children at risk, UNICEF has warned.
AfCFTA signs $3.1bn deal to modernise customs across Africa
The African Continental Free Trade Area (AfCFTA) Secretariat signed a 20-year, $3.1bn concession agreement with a Nigerian tech firm to digitise border systems, cut delays and boost intra-African trade.
Nigeria's cities now hold half the population, up from one in ten in 1950
Nigeria's urban population has climbed from around one in ten people in 1950 to nearly one in two today, according to harmonised settlement data published by the European Commission's Joint Research Centre.
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Number of people living in each city - OWID
Most of the world’s fastest-growing megacities will soon be in Africa. Many cities across East Asia and Latin America have grown quickly over the last few decades.
African startup funding steadies at $1.44bn as debt, climate tech and consolidation reshape market – report
African startups raised $1.44bn in H1. While deal numbers fell 42%, acquisitions, cross-border expansion and corporate partnerships increased sharply.
Nigeria's Dangote refinery completes $2.5bn private placement after strong investor demand
Dangote said it had issued and allotted about $2.5bn of new equity after receiving demand equivalent to 3.7 times the original offer size.
EU withdraws Slovenia's Fajon as Sahel special representative amid domestic dispute
The EU's foreign policy chief has withdrawn Slovenia's Tanja Fajon as special representative for the Sahel after Prime Minister Janez Janša's new government opposed her nomination, exposing a domestic political rift.
Africa records world’s fastest growth in ultra-rich population
Africa’s ultra-high-net-worth population rose 23.7% to 3,440 in 2025, the fastest regional growth worldwide, according to an Altrata survey; combined wealth climbed to $400bn.
Nigeria opens Chinese-built $250mn lithium plant, targets leading role in battery supply chain
Nigeria's $250mn launch of a lithium-processing plant comes as as UNCTAD forecasts global demand will rise by 353% between 2024 and 2040, driven by electric vehicles, battery storage and clean energy tech.
IMF sees sub-Saharan Africa growth steady at 4.3% in 2026, warns of rising food and energy prices
Excluding Nigeria and South Africa, the IMF projects growth in the rest of sub-Saharan Africa will slow from 5.6% in 2025 to 5.2% in both 2026 and 2027.
EBID approves $417mn in West Africa projects, plans to double balance sheet
The ECOWAS Bank for Investment and Development (EBID) plans to double its balance sheet to about $4.4bn to support larger infrastructure financing.
Afreximbank chief says fair credit ratings are key to Africa’s industrialisation
In 2025, Botswana, Morocco and Mauritius were the only African countries with investment-grade sovereign ratings; some are not rated at all and are excluded from accessing international capital markets.
Nigeria's Dangote Cement ups dividend 50% for record $550mn payout ahead of planned refinery IPO
Dangote Cement's record dividend could boost interest in a planned IPO of its sister company controlling the 650,000-bpd oil refinery in Lagos, which market estimates have valued at up to $50bn.
Mega-deals, debt financing and M&A drive African startup funding to $1.44bn in H1 2026
Investors backed fewer African startups in H1 2026 than a year ago, but deals were larger, with electric mobility Spiro leading funding, while M&A activity reached a record high.