# UKUMBI AFRIKA

> African business, markets and policy news


## Posts

- [UN Warns Strait of Hormuz Disruptions Could Leave Lasting Economic Scars on Vulnerable Nations](https://www.ukumbiafrika.org/un-warns-strait-of-hormuz-disruptions-could-leave-lasting-economic-scars-on-vulnerable-nations/): Although shipping through the Strait of Hormuz has resumed and global oil prices have eased,...
- [Global Sovereign Investors Shift Towards Energy Assets Amid Growing Dollar Concerns](https://www.ukumbiafrika.org/global-sovereign-investors-shift-towards-energy-assets-amid-growing-dollar-concerns/): Sovereign wealth funds and central banks managing an estimated US$29 trillion are increasing investments in...
- [African Banks Intensify Expansion in Kenya Amid Strong Long-Term Growth Prospects](https://www.ukumbiafrika.org/african-banks-intensify-expansion-in-kenya-amid-strong-long-term-growth-prospects/): Kenya continues to attract leading African banking groups seeking regional expansion, but the country’s well-established...
- [Egypt Advances Privatisation Drive with Listing of Four State-Owned Companies](https://www.ukumbiafrika.org/egypt-advances-privatisation-drive-with-listing-of-four-state-owned-companies/): Egypt has taken another step in its economic reform agenda by adding four state-owned enterprises...
- [Takealot Records First Annual Profit as Revenue Surpasses US$1 Billion](https://www.ukumbiafrika.org/takealot-records-first-annual-profit-as-revenue-surpasses-us1-billion/): South African e-commerce leader Takealot Group has achieved a significant milestone, reporting its first full-year...
- [Escalating Strait of Hormuz Tensions Raise Fresh Concerns Over Global Energy Security](https://www.ukumbiafrika.org/escalating-strait-of-hormuz-tensions-raise-fresh-concerns-over-global-energy-security/): A commercial tanker sustained damage after reportedly being struck by a projectile in the Strait...
- [IMF Approves US$348.5 Million Financing Package for DR Congo](https://www.ukumbiafrika.org/imf-approves-us348-5-million-financing-package-for-dr-congo/): The International Monetary Fund (IMF) has approved a new financing package worth nearly US$350 million...
- [Ghana to Increase State Gold Purchases from Large Mining Companies](https://www.ukumbiafrika.org/ghana-to-increase-state-gold-purchases-from-large-mining-companies/): Beginning 1 July, Ghana will purchase 30% of the gold produced by large-scale mining companies...
- [West African Crude Oil Prices Continue to Face Downward Pressure](https://www.ukumbiafrika.org/west-african-crude-oil-prices-continue-to-face-downward-pressure/): Trading activity indicates continued weakness in differentials for West African crude grades as increased supply...
- [Heavy Rains Raise Fresh Concerns for Ghana's Cocoa Harvest](https://www.ukumbiafrika.org/heavy-rains-raise-fresh-concerns-for-ghanas-cocoa-harvest/): Cocoa farmers in Ghana are warning that unusually persistent rainfall and the spread of black...
- [DR Congo Tightens International Travel Rules Amid Ebola Outbreak](https://www.ukumbiafrika.org/dr-congo-tightens-international-travel-rules-amid-ebola-outbreak/): Authorities in the Democratic Republic of Congo have introduced stricter travel requirements following confirmation that...
- [Rights Groups Warn Clean Energy Mineral Rush is Driving More Abuses](https://www.ukumbiafrika.org/rights-groups-warn-clean-energy-mineral-rush-is-driving-more-abuses/): Growing global demand for minerals used in clean energy technologies is being accompanied by a...
- [China Authorises Standard Bank and ICBC to Expand Yuan Clearing Across Africa](https://www.ukumbiafrika.org/china-authorises-standard-bank-and-icbc-to-expand-yuan-clearing-across-africa/): China has taken another step toward expanding the international use of the renminbi by authorising...
- [Africa Energy Market Report 2025](https://www.ukumbiafrika.org/africa-energy-market-report-2025/): Overview of the Energy Landscape in Africa by 2025 By 2025, the African energy landscape...
- [Nigeria and South Africa Partner in Financial Transparency](https://www.ukumbiafrika.org/nigeria-and-south-africa-partner-in-financial-transparency/): Introduction to the Cape Town Stock Exchange The Cape Town Stock Exchange (CTSE) stands as...
- [Ivory Coast Invests In National Railway. Riding Begins 2028](https://www.ukumbiafrika.org/ivory-coast-invests-in-national-railway-riding-begins-2028/): Ivory Coast set to launch railway service in 2028. 
- [US State Of South Carolina Partners With Imo State In Tropical Medicine Research](https://www.ukumbiafrika.org/us-state-of-south-carolina-partners-with-imo-state-in-tropical-medicine-research/): Introduction to the Partnership The recent collaboration between South Carolina and Imo State marks a...
- [Nissan Nigeria Partners SMEs To Deliver Lighting Solutions](https://www.ukumbiafrika.org/nissan-nigeria-partners-smes-to-deliver-lighting-solutions/): Introduction to Nissan Nigeria’s Initiative Nissan Nigeria has made significant strides in fostering small and...
- [Financial Restrictions Set in Zimbabwean Banking Sector](https://www.ukumbiafrika.org/financial-restrictions-set-in-zimbabwean-banking-sector/): Introduction The banking sector in Zimbabwe faces numerous challenges, significantly shaped by various financial restrictions....
- [Merafe Resources Half-Year Profit Surges 64% as Chrome Prices Rise](https://www.ukumbiafrika.org/merafe-resources-half-year-profit-surges-64-as-chrome-prices-rise/): Merafe Resources' half-year headline earnings rose 64% as stronger chrome ore prices and sales offset lower ferrochrome production and industry pressure.
- [Kenya Budget Deficit Seen Narrowing to 5.7% of GDP in 2027/28](https://www.ukumbiafrika.org/kenya-budget-deficit-seen-narrowing-to-5-7-of-gdp-in-2027-28/): Kenya's budget deficit is projected to narrow to 5.7% of GDP in 2027/28 as domestic financing rises and external borrowing declines, the Finance Ministry says.
- [South African Markets—Factors to Watch](https://www.ukumbiafrika.org/south-african-markets-factors-to-watch-august-11-2026/): South African markets face jobs and manufacturing data, a bond auction, company earnings, and global oil, gold and U.S. rate signals on August 11.
- [Libya Central Bank Governor Naji Issa Submits Resignation](https://www.ukumbiafrika.org/libya-central-bank-governor-naji-issa-submits-resignation/): Libya’s central bank governor Naji Issa has submitted his resignation, raising fresh concerns about financial stability amid the country’s political divide.
- [African Markets—Factors to Watch on August 10, 2026](https://www.ukumbiafrika.org/african-markets-factors-to-watch-on-august-10-2026/): African markets face a busy August 10 as investors track inflation, oil prices, currencies, infrastructure finance and regional political developments.
- [Nigeria’s Cost of Living Crisis Deepens as Election Loom](https://www.ukumbiafrika.org/nigerias-cost-of-living-crisis-deepens-as-election-loom/): Nigeria's cost-of-living crisis is deepening as households face higher food, housing, transport and electricity costs ahead of the January elections.
- [Egypt’s Urban Inflation Accelerates to 14.9% in July as Price Pressures Persist](https://www.ukumbiafrika.org/egypts-urban-inflation-accelerates-to-14-9-in-july-as-price-pressures-persist/): Egypt's annual urban inflation accelerated to 14.9% in July from 14.3% in June, as price pressures persisted despite a monthly decline in food prices.
- [Drone Crash Causes Leak at Libya’s Zawia Refinery, Situation Under Control](https://www.ukumbiafrika.org/drone-crash-causes-leak-at-libyas-zawia-refinery-situation-under-control/): A drone crashed into an untreated naphtha tank at Libya’s Zawia refinery, causing a leak that staff brought under control, with no fire or casualties.
- [Uganda Economy: Fitch Affirms Uganda at ‘B’, Outlook Stable](https://www.ukumbiafrika.org/uganda-economy-fitch-affirms-uganda-at-b-outlook-stable/): Fitch Ratings affirmed Uganda's long-term foreign-currency issuer default rating at 'B' with a stable outlook amid fiscal and external financing pressures.
- [Sasol Buys 1 Million Barrels of Nigerian Crude as West African Oil Market Holds Steady](https://www.ukumbiafrika.org/sasol-buys-1-million-barrels-of-nigerian-crude-as-west-african-oil-market-holds-steady/): Sasol purchased 1 million barrels of Nigerian crude for September delivery as West African oil differentials held steady amid firm Asian refinery demand.
- [South African Rand Gains as Gold Strength Supports Currency Ahead of U.S. Jobs Data](https://www.ukumbiafrika.org/south-african-rand-gains-as-gold-strength-supports-currency-ahead-of-us-jobs-data/): The South African rand strengthened as rising gold prices supported the currency, while markets awaited U.S. jobs data for signals on interest rates.
- [ATIDI Targets $2 Billion Capital Base to Unlock More Private Investment in Africa](https://www.ukumbiafrika.org/atidi-targets-2-billion-capital-base-to-unlock-more-private-investment-in-africa/): ATIDI aims to double its capital base to $2 billion within two years, expanding guarantees designed to attract private investment into African infrastructure.
- [South Africa Secures $500 Million AIIB Loan to Boost Climate-Resilient Urban Infrastructure](https://www.ukumbiafrika.org/south-africa-secures-500-million-aiib-loan-to-boost-climate-resilient-urban-infrastructure/): South Africa has secured a $500 million AIIB loan to strengthen climate-resilient urban services, marking the bank's first investment in the country.
- [African Markets: Key Factors to Watch on August 7, 2026](https://www.ukumbiafrika.org/african-markets-key-factors-to-watch-on-august-7-2026/): African markets face a busy August 7 as investors track inflation, oil prices, currencies, trade deals, company earnings and the U.S. jobs report.
- [Kenya's East African Breweries Posts 43% Surge in Full-Year Pretax Profit on Strong Sales](https://www.ukumbiafrika.org/kenyas-east-african-breweries-posts-43-surge-in-full-year-pretax-profit-on-strong-sales/): Kenya's East African Breweries posted a 43% rise in full-year pretax profit to 27.66 billion shillings as net sales climbed 13% across its markets.
- [Algeria Buys Up to 720,000 Tons of Wheat as Global Grain Procurement Continues](https://www.ukumbiafrika.org/algeria-buys-up-to-720000-tons-of-wheat-as-global-grain-procurement-continues/): Algeria's OAIC bought 540,000 to 720,000 metric tons of milling wheat in an international tender, with shipments scheduled from September to October 2026.
- [South African Markets: Factors to Watch on August 6](https://www.ukumbiafrika.org/south-african-markets-factors-to-watch-on-august-6/): South African markets face global risk sentiment, commodity moves and overseas developments on August 6 after the rand strengthened and the JSE Top-40 gained.
- [Egyptian Gulf Bank Posts EGP 2.20 Billion H1 Net Profit](https://www.ukumbiafrika.org/egyptian-gulf-bank-posts-egp-2-20-billion-h1-net-profit/): Egyptian Gulf Bank reported EGP 2.20 billion in consolidated net profit for the first half of 2026, with net interest income reaching EGP 5.18 billion.
- [Kenya's Private Sector Activity Picks Up in July Despite Inflation, Logistics Challenges](https://www.ukumbiafrika.org/kenyas-private-sector-activity-picks-up-in-july-despite-inflation-logistics-challenges/): Kenya’s private sector returned to growth in July as the Stanbic PMI rose to 51.3, despite persistent inflation and logistics pressures on businesses.
- [World Faces Fresh Food Price Surge as Wars, El Niño Threaten Global Supplies – FAO](https://www.ukumbiafrika.org/world-faces-fresh-food-price-surge-as-wars-el-nino-threaten-global-supplies-fao/): The FAO warns global food prices may rise from late 2026 as wars, higher energy and fertilizer costs, and a strong El Niño threaten agricultural supplies.
- [Nasr Co for Civil Works Posts EGP 6 Million First-Half Loss Despite Revenue Growth](https://www.ukumbiafrika.org/nasr-co-for-civil-works-posts-egp-6-million-first-half-loss-despite-revenue-growth/): Nasr Company for Civil Works posted an EGP 6 million first-half loss in 2026 despite revenue of EGP 120.1 million, according to a company filing.
- [Egypt's Net Foreign Reserves Rise to $56.294 Billion in July](https://www.ukumbiafrika.org/egypts-net-foreign-reserves-rise-to-56-294-billion-in-july/): Egypt’s net foreign reserves rose to $56.294 billion in July 2026 from $55.072 billion in June, strengthening the country’s foreign currency buffers.
- [South African Private Sector Growth Slows Slightly in July, PMI Shows](https://www.ukumbiafrika.org/south-african-private-sector-growth-slows-slightly-in-july-pmi-shows/): South Africa’s private sector stayed in expansion in July, but growth slowed as weak demand, softer hiring and inventory cuts weighed on activity.
- [South African Rand Holds Steady as Traders Eye U.S. Jobs Data, Iran Developments](https://www.ukumbiafrika.org/south-african-rand-holds-steady-as-traders-eye-u-s-jobs-data-iran-developments/): The South African rand held steady as traders weighed U.S.-Iran developments and awaited U.S. jobs data for clues on the Federal Reserve’s next move.
- [Nigeria Approves $4.5 Billion Refinancing of NNPC Oil-Backed Facility](https://www.ukumbiafrika.org/nigeria-approves-4-5-billion-refinancing-of-nnpc-oil-backed-facility/): Nigeria has approved a $4.5 billion refinancing of NNPC’s oil-backed facility to bolster foreign reserves and release funding for infrastructure projects.
- [South Africa's Nedbank Posts Flat Half-Year Profit as Higher Income Offsets Rising Credit Costs](https://www.ukumbiafrika.org/south-africas-nedbank-posts-flat-half-year-profit-as-higher-income-offsets-rising-credit-costs/): Nedbank’s half-year profit was broadly flat as stronger income offset rising credit costs, while the South African lender raised its interim dividend.
- [South Africa Unveils Draft Rules for Cross-Border Crypto Transfers](https://www.ukumbiafrika.org/south-africa-unveils-draft-rules-for-cross-border-crypto-transfers/): South Africa proposes rules requiring authorised providers to report cross-border crypto transfers, tightening oversight while public consultation runs.
- [Nigeria's Insurance Sector Takes Major Step as 43 Firms Meet New Capital Rules](https://www.ukumbiafrika.org/nigerias-insurance-sector-takes-major-step-as-43-firms-meet-new-capital-rules/): Nigeria says 43 insurers and reinsurers now meet new capital requirements, marking major progress under the sector's sweeping regulatory reforms.
- [Markets | South African Rand Firms Ahead of Factory Activity, Vehicle Sales Data](https://www.ukumbiafrika.org/markets-south-african-rand-firms-ahead-of-factory-activity-vehicle-sales-data/): South Africa's rand strengthened as investors awaited manufacturing PMI and vehicle sales data for fresh signals on the country's economic momentum.
- [Factors to Watch Across African Markets – August 3, 2026](https://www.ukumbiafrika.org/factors-to-watch-across-african-markets-august-3-2026/): Investors enter the week watching oil prices, African currencies and major economic data after easing Middle East tensions shifted global market sentiment.
- [Fidelity Bank Completes Acquisition of Affinity Bancshares and Affinity Bank](https://www.ukumbiafrika.org/fidelity-bank-completes-acquisition-of-affinity-bancshares-and-affinity-bank/): Lagos –Fidelity Bank has announced the successful completion of its acquisition of Affinity Bancshares, Inc. and its subsidiary, Affinity Bank, marking a significant milestone in the lender's expansion strategy.
- [Egypt Raises Most Household Electricity Tariffs by Average 12% to Support Power Sector Sustainability](https://www.ukumbiafrika.org/egypt-raises-most-household-electricity-tariffs-by-average-12-to-support-power-sector-sustainability/): Cairo, July 31.Egypt has increased electricity tariffs for most residential consumers by an average of 12%, while leaving the lowest household consumption bracket unchanged, as authorities seek to strengthen the financial sustainability of the country's power sector.
- [South African Rand Weakens Despite Stronger-Than-Expected Trade Surplus](https://www.ukumbiafrika.org/south-african-rand-weakens-despite-stronger-than-expected-trade-surplus/): Johannesburg –The South African rand weakened against the U.S. dollar on Friday despite stronger-than-expected trade data, as investors remained focused on global market sentiment and a firmer greenback.
- [South Africa Falls Behind Namibia as Orange Basin Oil Race Accelerates](https://www.ukumbiafrika.org/south-africa-falls-behind-namibia-as-orange-basin-oil-race-accelerates/): Cape Town—The Orange Basin, one of the world's most promising offshore petroleum provinces shared by South Africa and Namibia, is emerging as a striking example of how differing regulatory approaches can shape investment, exploration, and economic opportunity across Africa.
- [AngloGold Ashanti Q2 Profit Rises 58% on Higher Gold Prices](https://www.ukumbiafrika.org/anglogold-ashanti-q2-profit-rises-58-on-higher-gold-prices/): Johannesburg – AngloGold Ashanti reported a 58% increase in second-quarter profit, buoyed by stronger global gold prices that boosted earnings during the period.
- [Gabon Raises $920 Million in 9.375% Notes to Tackle Debt Arrears](https://www.ukumbiafrika.org/gabon-raises-920-million-in-9-375-notes-to-tackle-debt-arrears/): Gabon has successfully priced $920 million in 9.375% amortizing notes due in 2033, with part of the proceeds set aside to clear a portion of the country's external debt arrears while the remainder will support general government financing.
- [Africa Faces Up to $20 Billion Economic Hit From ‘Super’ El Niño, AfDB Warns](https://www.ukumbiafrika.org/africa-faces-up-to-20-billion-economic-hit-from-super-el-nino-afdb-warns/): Africa could suffer an economic loss of between $10 billion and $20 billion as an impending "super" El Niño threatens to unleash severe droughts, floods and storms across the continent, according to the African Development Bank (AfDB).
- [Africa Markets: Factors to Watch Across Africa](https://www.ukumbiafrika.org/africa-markets-factors-to-watch-across-africa/): African investors are navigating a busy trading session as global market volatility, geopolitical tensions, central bank decisions, commodity prices and regional developments shape sentiment across the continent.
- [Countries Tighten Travel Rules as Ebola Risk Spurs Global Border Measures](https://www.ukumbiafrika.org/countries-tighten-travel-rules-as-ebola-risk-spurs-global-border-measures/): Abuja– Governments across the world have tightened travel restrictions, strengthened border screening and introduced quarantine measures following the World Health Organization's (WHO) declaration of the Ebola outbreak in the Democratic Republic of Congo (DRC) as a Public Health Emergency of International Concern (PHEIC).
- [Global Cocoa Surplus Set to Shrink as El Niño Threatens West African Harvests](https://www.ukumbiafrika.org/global-cocoa-surplus-set-to-shrink-as-el-nino-threatens-west-african-harvests/): The global cocoa market is expected to record a much smaller surplus in the 2026/27 season as the growing risk of a strong El Niño weather event threatens production across West Africa, commodities broker and analyst StoneX said on Wednesday.
- [Ethiopian Airlines Posts 20% Jump in Full-Year Revenue to $9.1 Billion](https://www.ukumbiafrika.org/ethiopian-airlines-posts-20-jump-in-full-year-revenue-to-9-1-billion/): ADDIS ABABA – State owned Ethiopian Airlines reported a strong financial performance for the 2025/26 fiscal year, with full-year revenue increasing 20% year-on-year to $9.1 billion, according to state-affiliated broadcaster Fana on Wednesday.
- [Global Stocks Stay Muted Ahead of Fed Decision, Tech Earnings as Oil Prices Climb](https://www.ukumbiafrika.org/global-stocks-stay-muted-ahead-of-fed-decision-tech-earnings-as-oil-prices-climb/): LAGOS – Global equity markets traded cautiously on Wednesday as investors awaited the U.S. Federal Reserve's latest policy decision and earnings from major technology companies, while renewed tensions in the Middle East pushed oil prices higher and added to inflation concerns.
- [Angola's Unitel Hit by Cyberattack Ahead of Stock Market Debut](https://www.ukumbiafrika.org/angolas-unitel-hit-by-cyberattack-ahead-of-stock-market-debut/): Luanda –Angola's largest telecommunications operator, Unitel, has been hit by a cyberattack that disrupted voice, mobile data and internet services across the country, just one day before the state-owned company is set to make its debut on the Angolan stock exchange.
- [South African Rand Holds Steady as Stronger U.S. Dollar Weighs Ahead of Fed Decision](https://www.ukumbiafrika.org/south-african-rand-holds-steady-as-stronger-us-dollar-weighs-ahead-of-fed-decision/): Johannesburg –The South African rand traded with little movement on Tuesday as a stronger U.S. dollar continued to pressure the risk-sensitive currency, with investors awaiting the outcome of the U.S. Federal Reserve's policy meeting.
- [South Africa Adds Angolan Kwanza to Regional Cross-Border Payment System](https://www.ukumbiafrika.org/south-africa-adds-angolan-kwanza-to-regional-cross-border-payment-system/): Pretoria- South Africa has expanded its regional cross-border payment infrastructure by adding the Angolan kwanza as a settlement currency, marking the first new currency to join the Southern African Development Community (SADC) real-time payment system since its launch in 2013.
- [LME Aluminium Stocks Hit Lowest Level This Century as Supply Constraints Tighten Market](https://www.ukumbiafrika.org/lme-aluminium-stocks-hit-lowest-level-this-century-as-supply-constraints-tighten-market/): Aluminium inventories held in London Metal Exchange (LME) warehouses have fallen to their lowest level this century, highlighting tightening global supply conditions as ongoing disruptions in the Middle East continue to affect the market.
- [Ukraine's Grain Exports Surge Early in 2026/27 Marketing Season](https://www.ukumbiafrika.org/ukraines-grain-exports-surge-early-in-2026-27-marketing-season/): Ukraine's grain exports have risen sharply at the start of the 2026/27 marketing season, with wheat and corn shipments significantly exceeding volumes recorded during the same period last year, according to data released by the country's agriculture ministry.
- [Black Sea Tensions Shake Grain Markets as Wheat Retreats from Two-Year Highs](https://www.ukumbiafrika.org/black-sea-tensions-shake-grain-markets-as-wheat-retreats-from-two-year-highs/): Global wheat prices retreated on Friday after surging to their highest level in two years, as traders locked in profits ahead of the weekend despite escalating security concerns in the Black Sea, a critical corridor for global grain exports.
- [Red Sea Shipping Disrupted as Houthi Threats Force Tankers to Change Course](https://www.ukumbiafrika.org/red-sea-shipping-disrupted-as-houthi-threats-force-tankers-to-change-course/): Fresh security threats in the Red Sea are beginning to disrupt global oil shipping, with several tankers altering their routes after Yemen's Houthi movement warned vessels against calling at Saudi Arabian ports.
- [Why Investors Are Watching Copper, the IMF and Economic Reforms in Zambia](https://www.ukumbiafrika.org/why-investors-are-watching-copper-the-imf-and-economic-reforms-in-zambia/): Zambia heads to the polls on 13 August 2026, investors are looking beyond the election result. While President Hakainde Hichilema is widely expected to secure a second term, markets are more focused on whether the country can build on its recent economic recovery and translate it into sustainable growth, jobs and higher investment.
- [Nigerian Crude Loading Programme Emerges as West African Oil Market Holds Firm](https://www.ukumbiafrika.org/nigerian-crude-loading-programme-emerges-as-west-african-oil-market-holds-firm/): Lagos, crude oil loading programme has begun to take shape, with early schedules showing steady export volumes as traders closely monitor global supply risks and pricing trends.
- [Tanzania Eyes Eurobond as It Seeks $1 Billion in External Financing](https://www.ukumbiafrika.org/tanzania-eyes-eurobond-as-it-seeks-1-billion-in-external-financing/): Tanzania is weighing the possibility of issuing its first Eurobond as part of efforts to meet an estimated $1 billion in external borrowing requirements, Finance Minister Khamis Mussa Omar has said.
- [Dangote Refinery Ends U.S. Dollar Fuel Sales to Nigeria's Local Market](https://www.ukumbiafrika.org/dangote-refinery-ends-us-dollar-fuel-sales-to-nigerias-local-market/): Lagos Dangote Petroleum Refinery has reversed its decision to sell fuel to Nigeria's domestic market in U.S. dollars, opting once again to price its products in naira, a move expected to ease concerns over fuel availability and pricing.
- [African Rainbow Minerals approves major platinum and nickel investments](https://www.ukumbiafrika.org/african-rainbow-minerals-approves-major-platinum-and-nickel-investments/): South African mining company African Rainbow Minerals (ARM) has approved two major projects aimed at expanding its platinum group metals (PGMs) business and reviving nickel production, signalling renewed confidence in the mining sector despite recent commodity price volatility.
- [African Markets: Key Factors to Watch – July 23, 2026](https://www.ukumbiafrika.org/african-markets-key-factors-to-watch-july-23-2026/): African markets are expected to trade cautiously on Thursday as investors weigh rising geopolitical tensions, stronger oil prices, central bank decisions, and developments across key African economies.
- [Global Markets | Emerging Markets Rally on AI Optimism Despite Oil Price Surge](https://www.ukumbiafrika.org/global-markets-emerging-markets-rally-on-ai-optimism-despite-oil-price-surge/): Emerging market stocks climbed on Thursday as optimism surrounding artificial intelligence (AI) and strong demand for semiconductor technology outweighed concerns over rising oil prices, while currencies posted mixed performances against a steady U.S. dollar.
- [BitMEX to Shut Down Operations as Crypto Industry Faces Prolonged Downturn](https://www.ukumbiafrika.org/bitmex-to-shut-down-operations-as-crypto-industry-faces-prolonged-downturn/): Cryptocurrency derivatives exchange BitMEX has announced that it will permanently cease operations on September 23, 2026, marking the end of one of the industry's pioneering trading platforms.
- [Oil Price Surge Reignites Inflation Fears Ahead of ECB Meeting](https://www.ukumbiafrika.org/oil-price-surge-reignites-inflation-fears-ahead-of-ecb-meeting/): Global financial markets turned cautious on Thursday as a sharp rise in oil prices fuelled fresh inflation concerns, pushing European government borrowing costs to their highest levels in years ahead of the European Central Bank's (ECB) policy meeting.
- [Morocco’s Annual Inflation Falls to 0.3% in June as Food Prices Ease](https://www.ukumbiafrika.org/moroccos-annual-inflation-falls-to-0-3-in-june-as-food-prices-ease/): Morocco’s Annual Inflation Falls to 0.3% in June as Food Prices Ease Rabat– Morocco’s annual...
- [Morocco-Germany $30bn Undersea Power Cable Delayed by Governance Dispute](https://www.ukumbiafrika.org/morocco-germany-30bn-undersea-power-cable-delayed-by-governance-dispute/): Rabat — On Wednesday, July 22, 2026,a proposed $30 billion renewable energy project linking Morocco...
- [South Africa Inflation Surges to 5.0%, Strengthening Case for Interest Rate Hike](https://www.ukumbiafrika.org/south-africa-inflation-surges-to-5-0-strengthening-case-for-interest-rate-hike/): Johannesburg— South Africa’s annual inflation accelerated more sharply than expected in June, reinforcing expectations that...
- [Global Markets Rise as Oil Rally Lifts Energy Stocks Ahead of Big Tech Earnings](https://www.ukumbiafrika.org/global-markets-rise-as-oil-rally-lifts-energy-stocks-ahead-of-big-tech-earnings/): Global stock markets edged higher on Wednesday as surging oil prices boosted energy shares, while...
- [Nigeria's Central Bank Holds Benchmark Lending Rate at 26.50%](https://www.ukumbiafrika.org/nigerias-central-bank-holds-benchmark-lending-rate-at-26-50/): Abuja– The Central Bank of Nigeria (CBN) on Tuesday left its benchmark Monetary Policy Rate...
- [Zimbabwe expands rail route for lithium exports via Mozambique](https://www.ukumbiafrika.org/zimbabwe-expands-rail-route-for-lithium-exports-via-mozambique/): Zimbabwe has introduced a new freight rail option for transporting lithium concentrate to Mozambique’s Port...
- [Global Hunger Falls for Third Straight Year, but Africa Still Carries the Heaviest Burden](https://www.ukumbiafrika.org/global-hunger-falls-for-third-straight-year-but-africa-still-carries-the-heaviest-burden/): Global hunger declined for a third consecutive year in 2025, with about 645 million people...
- [Lecico Egypt Seeks Trading Suspension Ahead of Merger Share Listing](https://www.ukumbiafrika.org/lecico-egypt-seeks-trading-suspension-ahead-of-merger-share-listing/): Lecico has requested the Egyptian Exchange (EGX) to suspend trading in its shares from July...
- [South African Rand Holds Firm as Markets Await SARB Decision Amid Oil Price Shock](https://www.ukumbiafrika.org/south-african-rand-holds-firm-as-markets-await-sarb-decision-amid-oil-price-shock/): Johannesburg— South Africa’s rand traded little changed on Monday as investors adopted a cautious stance...
- [Egyptian Consortium Wins Over $6 Billion Oman Energy Projects Deal](https://www.ukumbiafrika.org/egyptian-consortium-wins-over-6-billion-oman-energy-projects-deal/): Cairo—A consortium comprising Egyptian engineering firms Petrojet and ENPPI has been selected for a six-year...
- [ECOWAS Backs Nigeria-Morocco Atlantic Gas Pipeline](https://www.ukumbiafrika.org/ecowas-backs-nigeria-morocco-atlantic-gas-pipeline/): Abuja – Member states of the Economic Community of West African States (ECOWAS) have signed...
- [DR Congo Begins First Lithium Exports as Zijin Ships Concentrate to China](https://www.ukumbiafrika.org/dr-congo-begins-first-lithium-exports-as-zijin-ships-concentrate-to-china/): The Democratic Republic of Congo has entered the global lithium export market after China’s Zijin...
- [African Currencies Face Mixed Outlook as Dollar Demand Pressures Regional Markets](https://www.ukumbiafrika.org/african-currencies-face-mixed-outlook-as-dollar-demand-pressures-regional-markets/): Currencies across several African economies are expected to experience divergent performances over the coming week,...
- [France and Morocco Advance Plans for Direct Electricity Interconnection](https://www.ukumbiafrika.org/france-and-morocco-advance-plans-for-direct-electricity-interconnection/): France and Morocco have launched a call for expressions of interest for a proposed electricity...
- [EU Grain Exporters Poised to Benefit as Black Sea Shipping Attacks Disrupt Global Trade](https://www.ukumbiafrika.org/eu-grain-exporters-poised-to-benefit-as-black-sea-shipping-attacks-disrupt-global-trade/): Escalating attacks on Black Sea ports and commercial shipping are creating fresh uncertainty in global...
- [Zimbabwe Faces Lithium Processing Bottleneck Ahead of 2027 Export Ban](https://www.ukumbiafrika.org/zimbabwe-faces-lithium-processing-bottleneck-ahead-of-2027-export-ban/): Zimbabwe’s only operational lithium sulphate plant says it cannot process lithium concentrate from other mining...
- [Ghana Approves Sweeping Mining Law Reforms to Strengthen Oversight and Promote Local Participation](https://www.ukumbiafrika.org/ghana-approves-sweeping-mining-law-reforms-to-strengthen-oversight-and-promote-local-participation/): Ghana’s Cabinet has approved wide-ranging amendments to the country’s mining legislation, paving the way for...
- [South Africa's Public Investment Corporation Appoints Interim CEO as Governance Investigation Deepens](https://www.ukumbiafrika.org/south-africas-public-investment-corporation-appoints-interim-ceo-as-governance-investigation-deepens/): South Africa’s Public Investment Corporation (PIC) has appointed Chief Financial Officer Batandwa Damoyi as Acting...
- [West African Crude Prices Remain Under Pressure as Asian Demand Softens](https://www.ukumbiafrika.org/west-african-crude-prices-remain-under-pressure-as-asian-demand-softens/): West African crude oil differentials remained subdued on Wednesday as weak buying interest from Asia...
- [Nigeria Launches US$500 Million Agriculture Fund to Boost Food Security and Private Investment](https://www.ukumbiafrika.org/nigeria-launches-us500-million-agriculture-fund-to-boost-food-security-and-private-investment/): Nigeria has unveiled a US$500 million agriculture investment fund targeting the Niger Delta, aiming to...
- [South African Rand Holds Under Pressure as Middle East Tensions Renew Inflation Concerns](https://www.ukumbiafrika.org/south-african-rand-holds-under-pressure-as-middle-east-tensions-renew-inflation-concerns/): The South African rand remained under pressure on Thursday as renewed military escalation between the...
- [Senegal Moves to Strengthen Debt Strategy with Expected Appointment of Lazard as Financial Adviser](https://www.ukumbiafrika.org/senegal-moves-to-strengthen-debt-strategy-with-expected-appointment-of-lazard-as-financial-adviser/): Senegal is expected to appoint global investment bank Lazard as a financial adviser on sovereign...
- [JPMorgan Expands Corporate Banking Across EMEA to Capture Greater Regional Market Share](https://www.ukumbiafrika.org/jpmorgan-expands-corporate-banking-across-emea-to-capture-greater-regional-market-share/): JPMorgan is accelerating the expansion of its corporate banking operations across Europe, the Middle East...
- [IMF Calls on Governments to Prioritise Price Stability Amid Global Economic Uncertainty](https://www.ukumbiafrika.org/imf-calls-on-governments-to-prioritise-price-stability-amid-global-economic-uncertainty/): The International Monetary Fund (IMF) has urged governments to maintain credible fiscal and monetary policies...
- [Stripe and Advent Make US$53 Billion Bid for PayPal in Landmark Fintech Deal](https://www.ukumbiafrika.org/stripe-and-advent-make-us53-billion-bid-for-paypal-in-landmark-fintech-deal/): Stripe and private equity firm Advent International have jointly offered to acquire PayPal in a...
- [Trafigura Withdraws from Angola Power Transmission Project as Alternative Regional Energy Links Advance](https://www.ukumbiafrika.org/trafigura-withdraws-from-angola-power-transmission-project-as-alternative-regional-energy-links-advance/): Global commodities trader Trafigura has reportedly withdrawn from a major cross-border electricity transmission project intended...
- [Kinetiko Pursues Fast-Track Gas Production to Help Address South Africa's Looming Energy Gap](https://www.ukumbiafrika.org/kinetiko-pursues-fast-track-gas-production-to-help-address-south-africas-looming-energy-gap/): Australian energy company Kinetiko is seeking to accelerate natural gas production in South Africa through...
- [Development Banks Set Record Climate Finance as World Bank Policy Shift Raises Questions](https://www.ukumbiafrika.org/development-banks-set-record-climate-finance-as-world-bank-policy-shift-raises-questions/): Multilateral development banks committed a record US$162.5 billion to climate finance in 2025, reinforcing support...
- [How Local Logistics Networks Are Bringing Amazon and Walmart to African Consumers](https://www.ukumbiafrika.org/how-local-logistics-networks-are-bringing-amazon-and-walmart-to-african-consumers/): A growing network of African logistics and package-forwarding companies is enabling consumers to shop from...
- [Emerging Markets Hold Steady as Middle East Tensions Weigh on Investor Sentiment](https://www.ukumbiafrika.org/emerging-markets-hold-steady-as-middle-east-tensions-weigh-on-investor-sentiment/): Emerging market equities delivered mixed performances on Tuesday while currencies traded in narrow ranges, as...
- [South Africa's Public Investment Corporation Suspends CEO Amid Whistleblower Allegations](https://www.ukumbiafrika.org/south-africas-public-investment-corporation-suspends-ceo-amid-whistleblower-allegations/): South Africa’s Public Investment Corporation (PIC), Africa’s largest asset manager, has placed its Chief Executive...
- [Global Cocoa Prices Tumble as Market Volatility Intensifies; Coffee Also Declines](https://www.ukumbiafrika.org/global-cocoa-prices-tumble-as-market-volatility-intensifies-coffee-also-declines/): Global cocoa prices fell sharply on Monday as speculative trading and tighter exchange margin requirements...
- [Nigeria's Crude Oil Production Climbs to Highest Level in More Than Six Years](https://www.ukumbiafrika.org/nigerias-crude-oil-production-climbs-to-highest-level-in-more-than-six-years/): Nigeria’s crude oil production reached its highest level since 2020 in June, surpassing its OPEC...
- [Dangote Refinery Diversifies Crude Supply with First-Ever UAE Oil Imports](https://www.ukumbiafrika.org/dangote-refinery-diversifies-crude-supply-with-first-ever-uae-oil-imports/): Nigeria’s Dangote Refinery has imported crude oil from the United Arab Emirates for the first...
- [Investor Confidence Returns to Zambia as Economic Reforms Gain Momentum](https://www.ukumbiafrika.org/investor-confidence-returns-to-zambia-as-economic-reforms-gain-momentum/): Investor Confidence Returns to Zambia as Economic Reforms Gain Momentum Investor interest in Zambia is...
- [Climate Groups Challenge TotalEnergies' Nigerian Oil Asset Sale Over Environmental Transparency](https://www.ukumbiafrika.org/climate-groups-challenge-totalenergies-nigerian-oil-asset-sale-over-environmental-transparency/): Environmental organisations have filed a lawsuit in France seeking greater transparency over TotalEnergies’ planned divestment...
- [Senegal Raises Growth Forecast as Government Reinforces Fiscal Recovery Strategy](https://www.ukumbiafrika.org/senegal-raises-growth-forecast-as-government-reinforces-fiscal-recovery-strategy/): Senegal has revised its economic growth forecast upward for 2026 while reaffirming its commitment to...
- [World Bank Unveils US$1.25 Billion Support Package to Accelerate Nigeria's Economic Transformation](https://www.ukumbiafrika.org/world-bank-unveils-us1-25-billion-support-package-to-accelerate-nigerias-economic-transformation/): The World Bank Group has approved a new seven-year partnership framework and a US$1.25 billion...
- [Shell Expects LNG Trade to Recover Despite Hormuz Disruptions, Sees Strong Long-Term Demand](https://www.ukumbiafrika.org/shell-expects-lng-trade-to-recover-despite-hormuz-disruptions-sees-strong-long-term-demand/): Global liquefied natural gas (LNG) trade is expected to remain subdued in 2026 following disruptions...
- [Ethiopia Moves Closer to Resolving Debt Crisis with Preliminary US$1 Billion Bond Restructuring Deal](https://www.ukumbiafrika.org/ethiopia-moves-closer-to-resolving-debt-crisis-with-preliminary-us1-billion-bond-restructuring-deal/): Ethiopia has reached a preliminary agreement with international bondholders to restructure its defaulted US$1 billion...
- [DR Congo Partners with Swiss Firm to Strengthen Diamond Value Chain](https://www.ukumbiafrika.org/dr-congo-partners-with-swiss-firm-to-strengthen-diamond-value-chain/): The Democratic Republic of Congo (DRC) has entered into a strategic partnership with Swiss technology...
- [South African Rand Slips as Markets Monitor Planned Anti-Immigration Protests](https://www.ukumbiafrika.org/south-african-rand-slips-as-markets-monitor-planned-anti-immigration-protests/): The South African rand weakened against the U.S. dollar as investors weighed renewed geopolitical uncertainty...

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