Economic and business news in Africa
Global oil prices have surged to their highest levels since 2008 following Iran’s attacks on Saudi energy infrastructure, sending shockwaves through African economies that rely heavily on imported petroleum.
Iran War Sends Global Oil Prices to 18-Year Highs, Shaking African Import Economies Read More »
For as long as anyone can remember, Cairo earned its reputation as the city that never truly slept. Cafes spilled onto pavements. Traffic hummed past midnight. The boulevards glowed with light and life deep into the early hours. In a country where the evening is the heartbeat of commerce, relationships, and culture, late-night Cairo was
Cairo Goes Dark: Egypt’s Energy Crisis Forces a City to Reinvent Its Nights Read More »
South Africa’s government has announced a temporary three-rand-per-litre reduction in the general fuel levy — effective for one month — as the fallout from the U.S.-Israeli war on Iran pushes domestic fuel prices to levels that are squeezing household budgets and threatening economic activity across Africa’s most industrialised economy. The reduction, announced jointly by the
South Africa Cuts Fuel Levy as Iran War Drives Pump Prices to Crisis Level Read More »
African banking has turned a corner. For the first time in the industry’s modern history, revenues across the continent have topped $100 billion — and according to a major new report from McKinsey, the sector’s profitability is running well ahead of the global average, raising fundamental questions about where the next phase of growth will
African Banks Outperform Global Rivals as Industry Revenues Cross $100 Billion Threshold Read More »
Nigeria’s government announced a 65 percent increase in gasoline prices on Tuesday, ending a long-standing fuel subsidy in what authorities called a necessary step toward economic reform — but triggering immediate outrage among ordinary Nigerians already struggling with soaring costs of living. The Announcement The Minister of Petroleum Resources announced the new pump price in
Nigeria’s Fuel Price Hike Sparks Nationwide Anger as Pump Costs Jump 65% Read More »
Nigeria’s banking sector is undergoing its most consequential restructuring in years. The Central Bank’s 2026 recapitalisation programme — demanding that commercial banks boost their shareholders’ funds to levels competitive with regional and global peers — is sending ripples across West Africa’s largest economy and beyond. The exercise, which has set minimum capital thresholds designed to
Nigeria’s Banking Sector Recapitalisation: A Strategic Reshaping for Global Ambition Read More »
Egypt has imposed a business curfew requiring shops, restaurants, and shopping malls to close by 9pm each night for an initial period of one month. On the surface, the measure — announced as part of a package of energy conservation measures — appears administrative. Look deeper, and it exposes a nation in the grip of
Egypt’s Energy Crisis: The Business Curfew That Reveals a Deeper Emergency Read More »
When Iranian air strikes hit Dubai’s Jebel Ali port on March 1st, 2026 — just four days after the United States and Israel launched their war on Iran — few anticipated that a sleepy Kenyan island would emerge as one of the conflict’s strangest beneficiaries. Thousands of high-end cars, originally destined for the UAE and
Kenya’s Lamu Port Emerges as Africa’s New Trade Lifeline Amid Middle East War Read More »
