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Startups across Africa, the Middle East and Israel raised a combined $101.9 million in week 42, led by a $42 million round for cybersecurity firm Pluto Security and $29 million for electric vehicle operator MAX.

The Major Energies Marketers Association of Nigeria has rejected the federal government's proposed N1,350 per litre ceiling on petrol ex-gantry and landing costs, arguing that arbitrary price caps distort competition without fixing supply bottlenecks.

Wisdom Kwati Group has unveiled Vision 2036, a plan to grow consolidated revenue to $100 billion by 2036 and pursue listings on the NGX and London Stock Exchange in 2027, with its smart city subsidiary leading the capital raise.

NGX Group Chairman Umaru Kwairanga says the capital market is positioned to help drive Nigeria's $1 trillion economy target, with market capitalisation up more than threefold and a call to double the investor base to 10 million.

The Federal Government has commissioned the first site of the Nigeria Universal Communication Access Project in Bende, Abia State, kicking off a nationwide rollout of 3,700 towers intended to connect nearly 20 million unserved Nigerians.

Nigeria uses only about 30% of its installed cocoa processing capacity, losing an estimated $2 billion a year in potential value addition, the Agriculture Ministry disclosed at a Lagos cocoa conference.

United Nigeria Airlines is raising N20 billion through its inaugural commercial paper issuance, the first by a domestic Nigerian airline, under a N100 billion programme arranged by Meristem Capital.

Nigerian Exchange Group chief Temi Popoola says the Dangote Refinery IPO has revived private listing talks spanning energy, technology and state-owned companies, with decisions expected from 2027.

Renaissance Capital Africa has raised its Dangote Petroleum Refinery valuation to N700.41 per share, a 33.4% premium to the N525 offer price, citing stronger refining margins.

MeCure Industries has opened a Series 8 commercial paper offer of up to ₦14 billion under its ₦40 billion programme, priced at a 21% gross implied yield as the drugmaker funds working capital ahead of expanding production investment.

The All-Share Index edged up 0.01 per cent to 247,707.13 points for a second straight gain, but decliners outpaced gainers and the value of trades contracted sharply, leaving the rally resting on a narrow band of energy stocks.

Spot gold rose about 0.4 per cent to near $4,187 an ounce, helped by a softer dollar and a sharp fall in Treasury yields, even as hot US producer prices kept Fed rate-hike bets alive and capped the metal near $4,235.

Nigeria has unveiled a portfolio of 65 investment projects requiring a combined $78.5 billion, presented to global investors at the IMF-World Bank annual meetings in Bangkok, with energy and transport accounting for most of the capital sought.

President Bola Tinubu has approved the start of a process to build new eastern and western electricity transmission grids, the Minister of Power said, though the procurement stage has only just begun and no cost or capacity figures have been disclosed.

The Federal Government, the European Union and the European Bank for Reconstruction and Development signed a €14 million grant in Abuja to fund preparation of a planned 90,000-kilometre national fibre-optic backbone, though the money covers design and capacity building, not deployment.

Africa's largest cement producer has appointed Goldman Sachs and UBS as bookrunners for a London secondary listing that could raise about $1 billion as early as November, with investor meetings due to begin on October 27 in London, South Africa and Dubai.

Guinea Insurance shares have risen 42.86 per cent in October 2026, breaking eight months of declines, as the company's recapitalisation and fresh capital raise investor interest despite a wider H1 loss.

The International Monetary Fund has said Nigeria's bank recapitalisation is necessary but not sufficient, urging stronger supervision, better buffers and timely recognition of non-performing loans.

The Nigerian Exchange closed higher on Wednesday as late buying in banking and selected industrial counters lifted market value by N103.90 billion, ending two sessions of declines.

Nigeria has unveiled a pipeline of 65 investment projects requiring a combined $78.5 billion in capital, pitched to global investors at the IMF and World Bank Annual Meetings in Bangkok.

Female-founded startups receive less than 1% of African venture funding, research shows, even as Nigerian startups raised $254 million in the first half of 2026.

The NGX All-Share Index fell 0.09% to 247,513.63 as profit-taking in heavyweight stocks wiped N144.54 billion off market capitalisation.

Liberia's central bank has turned to NAICOM for guidance on supervision, after Nigeria's recapitalisation raised about N720 billion and strengthened 50 insurers.

Foreign capital importation into Nigeria rose by more than 83 percent year-on-year in the first quarter of 2026, led by portfolio investments as global investors returned to the country's money and bond markets.