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Tag: Africa

Business featured

West, Central Africa commit $27bn to port projects for trade growth

Nigerian and other countries in West and Central Africa have committed over $27 billion to port infrastructure expansion projects aimed at strengthening regional trade integration, improving maritime logistics and driving economic growth across the sub-region. Vanguard reported that the Managing Director of the Nigerian Ports Authority, Dr. Abubakar Dantsoho, disclosed this on Monday during the […]

Investment

AFC commits $100m to boost Africa tech venture capital

Africa Finance Corporation has approved a commitment of up to $100 million to invest in Africa-focused technology fund managers, in a move aimed at increasing local institutional participation in the continent’s fast-growing venture capital ecosystem. The AFC disclosed this in a statement released on Monday. The investment comes as Africa’s digital economy is projected to […]

featured Food

Dangote pledges massive fertiliser push for Africa food security

President of the Dangote Group, Aliko Dangote, has reaffirmed his commitment to boosting food security across Africa through large-scale fertiliser investments. He declared that the continent has the capacity to feed itself and become a net exporter of agricultural products. Dangote made this known while addressing journalists in Gode, in Ethiopia’s Somali region. The occasion […]

Aviation

African airlines lead global passenger growth with 19.2% rise

African airlines recorded a 19.2 per cent year-on-year surge in international passenger demand in March 2026, according to the International Air Transport Association. The figures were disclosed in IATA’s March 2026 global passenger demand report, which tracked international and domestic air traffic trends across major world regions. The strong performance shows Africa’s growing importance in […]

Energy featured

Africa’s solar battery storage capacity to grow over 20% annually — Report

Solar battery storage in Africa is poised for rapid expansion, with capacity projected to grow by more than 20 per cent annually through 2030. This is according to the 2026 State of Africa’s Infrastructure report by the Africa Finance Corporation. The report points to accelerating deployment, falling technology costs and growing investor interest as key […]

Investment

Dangote pledges to build 650,000 bpd refinery in East Africa

Africa’s leading industrialist and President of the Dangote Group, Aliko Dangote, has said the refinery in Lagos can be replicated in East Africa with the right support. Vanguard reported that he made the pledge at the infrastructure summit – the Africa We Build Summit 2026 – on Thursday in Nairobi, Kenya. Dangote said: “I can […]

Opinion

IMF warns of rising fiscal deficits in Africa despite oil gains

Sub-Saharan Africa’s fiscal position is expected to weaken in 2026, even as improved commodity prices offer some relief to external balances across parts of the region. According to Nairametrics, this was contained in the International Monetary Fund’s April 2026 Regional Economic Outlook titled “Hard-Won Gains Under Pressure.” The Fund projects that the median fiscal deficit […]

Opinion

Foreign interests hindering Africa’s refineries, Dangote warns

Africa’s richest man and President of Dangote Group, Aliko Dangote, has said that entrenched foreign interests are undermining Africa’s industrial development and slowing the continent’s push toward economic self-sufficiency. Dangote made the remarks while speaking at the Investing in Africa Forum, held on the sidelines of the ongoing IMF/World Bank 2026 Spring Meetings in Washington […]

Oil and Gas

Dangote plans historic Pan-African IPO for oil refinery

President of Dangote Industries Limited, Aliko Dangote, is planning a landmark cross-border public offering of his $20bn oil refinery in a move that could reshape capital markets across Africa and deepen regional investor participation, a new report by Bloomberg revealed on Monday. The proposed listing, which will see shares of the Dangote Petroleum Refinery and […]

Finance

Intra-African trade to hit $230bn by 2026 — Afreximbank

Intra-African trade is on track to reach $230 billion by 2026, driven by the accelerated implementation of the African Continental Free Trade Area, with overall continental trade projected to grow 10 per cent this year, according to a new report by the Afreximbank. The report, titled ‘African Trade and Economic Outlook 2026,’ explained that despite […]

Food

Dangote fertiliser key to solving Africa food insecurity – UN

The Deputy Secretary-General of the United Nations Amina Mohammed has lauded the pivotal role of Dangote Industries Limited particularly Dangote Fertiliser Limited in addressing Africa’s growing food security challenges. She made this known while speaking during a visit to the company’s industrial complex in Ibeju-Lekki Lagos. She emphasized the need for stronger global partnerships to […]

featured Housing

Lagos rents hit fourth highest across African cities

Nigeria, Africa’s largest economy, Lagos State, has been ranked among the most expensive rental markets on the continent, as house rents in the country’s major cities rise almost monthly. According to BusinessDay, a new report, which looked at ‘Average Rent of 2-bedroom Apartment Across Africa’s Most Important Cities’, places Lagos, Nigeria’s most expensive housing market, […]

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