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The Central Bank of Kenya has signed a memorandum of understanding with the Toronto Centre for Financial Supervision, signed in Bangkok on the sidelines of the IMF and World Bank annual meetings, to strengthen supervisory training.

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.

Gabonese banking group BGFI Holding says the second phase of its share offering has closed oversubscribed, aiming to raise CFA80.558 billion through the issue of 1,006,975 new shares priced at CFA80,000 each.

President Donald Trump has signed an executive order waiving most of the new Russia sanctions and tariffs Congress passed in the Graham Act, acting two days before the implementation deadline and citing the national interest.

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 European Union's ambassador to Nigeria, Gautier Mignot, says the country probably has the world's largest number of people living below the poverty threshold, and announced nearly E45 million in humanitarian assistance for 2026 plus E20 million in defence support.

The Federal High Court in Lagos has ruled in favour of UBA in its N156.03 billion debt recovery suit against Stallion Group and the Vaswani brothers, upholding the bank's mortgage security, the liability of guarantors and its receiver/manager.

Renaissance Africa Energy, operator of Shell's former onshore business, has relaunched its vendor financing scheme with 13 banks, offering a subscribed portfolio of $4.1 billion and N435 billion to indigenous oil and gas contractors.

Pan-African conglomerate Amsons Group has agreed to buy Geneva-based Oryx Energies' Tanzanian downstream oil business for more than $230 million, taking on retail stations, storage terminals and a stake in TIPER operations.

Seventeen companies listed on the Nigerian Exchange have paid or proposed dividends totalling N1.13 trillion in the first half of 2026, underscoring the cash return profile of Nigeria's largest listed companies.

Aviation fuel marketer CITA Energies has called on Dangote Refinery to review its Jet A1 pricing formula, a premium introduced in March and a requirement that 25% of buyers' payment instruments be placed under lien, saying the extra costs are passed on to airlines.

Nigeria's 30-day petrol discount has failed to reach most motorists, with NNPCL stations back at N1,405 a litre and the N66 reduction available only through the company's app at self-service pumps, while transport fares keep rising.

CoreWeave's junk bonds are yielding more than 15% and its credit default swaps have blown past 1,100 basis points, signs that investors are losing confidence in the AI infrastructure company's ability to service roughly $50 billion of debt.

Brent crude jumped 3.7% to $109.86 a barrel after tankers were hit by mines in the Strait of Hormuz, the highest level since mid-May, prompting emergency supply measures from the IEA and the United States.

The Transmission Company of Nigeria will shut parts of Katampe, Jahi and environs from 10am to 4pm on Saturday for maintenance on a 60MVA transformer, after recent multi-day outages hit the FCT.

Nigerian equities fell 0.33% for the week to 247,539.73 points as the banking index shed 3.15%, while oil and gas stocks rose 3.13% and market breadth stayed positive.

The IMF's October Sub-Saharan Africa update says subsidy and exchange rate reforms in Nigeria and Ethiopia helped the region absorb the oil shock, but reserves, aid and fiscal space leave little room for another hit.

Senegal raised 338.2 billion CFA francs, about $582 million, in its second regional bond issue of 2026, attracting subscriptions worth 169.1% of the amount offered across four maturities.

The Bank of Uganda raised its central bank rate by 225 basis points to 12% at an emergency meeting, citing oil prices, shilling depreciation and offshore selling of government bonds.

Mainstack chief Ayobami Oyaleke is urging Nigeria's startup ecosystem to judge success by revenue, retention and risk management rather than funding volumes, warning against over-reliance on debt.

The Federal Government has begun construction of a 17.7MW interconnected solar mini-grid in Ibadan under the DARES programme, targeting 20 hours of daily supply and 22,597 connections across five communities.

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.

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.

Finance Minister Taiwo Oyedele says there will be no return to fuel subsidies or multiple exchange rates, as Nigeria targets 7% growth above the IMF's 4.3% projection for 2027.

Onafriq is closing Baxi, the agent banking business it acquired in 2021, citing inflation, naira depreciation and the rise of instant account-to-account payments, while insisting it is not exiting Nigeria.

Nigerian mobility company LincRide launched an on-demand ride-hailing service in Lagos bookable entirely through WhatsApp, with more than 3,000 verified drivers.

A broad selloff in technology shares dragged the Nasdaq to its worst week since late June, while Brent crude surged on Middle East supply risks.

Nigeria's agriculture sector grew 4.39% in the second quarter of 2026, its strongest momentum since 2021, the Federal Government said at World Food Day.

EIB Global and First City Monument Bank unveiled an €85 million facility for Nigerian agricultural value chains, with at least 70% earmarked for cocoa and dairy.

Aliko Dangote said 10% of the group's Ethiopian fertiliser business will list on the Ethiopian Securities Exchange, where it is building a $2.5 billion urea complex.

Kenya's energy regulator raised pump prices for the October-November cycle after the landed cost of imported fuel jumped, even as the government extended a VAT cut.

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.

Investors bid up to 18.18 per cent on the one-year bill but the Debt Management Office allotted only N269.06 billion against N450 billion offered, rejecting about 78 per cent of 364-day bids to keep a lid on borrowing costs after the rate cut.

The official NFEM rate firmed to N1,331.61 to the dollar while street quotes sat around N1,375 to N1,390, leaving a spread that has compressed sharply as reserves climb and central bank FX sales stay low.

The dollar index held near 102.07 and headed for its first weekly decline since mid-September as the 10-year Treasury yield fell about 15 basis points and the euro recovered from a 17-month low.

The Jakarta Composite fell 11.57 per cent, its heaviest one-day drop since 1998, after MSCI said Indonesia could no longer be classed an emerging market and proposed standalone status that would push it out of global benchmark indexes.

Brent eased about 0.5 per cent to roughly $105.30 but was set for a weekly gain as Middle East shipping risk, Hurricane Isaias shut-ins and pressure for a 100 million barrel IEA reserve release kept the market unsettled.

More stocks fell than rose across 17 African exchanges on Thursday, with Uganda leading index gains and Ghana the weakest, while attention shifted to Enoch Godongwana medium-term budget on 21 October and a possible R70 billion revenue windfall.

A memory-chip shortage driven by artificial intelligence data centres is pushing up smartphone prices and shrinking the sub-$100 segment that millions of Africans rely on to get online, with shipments of the cheapest devices falling sharply.

A Nigerian Communications Commission survey found that 73% of surveyed licensees use or pilot artificial intelligence in live operations, yet a third have no governance arrangements in place, raising questions about accountability and consumer protection.

Nigeria's electricity metering coverage reached 63.10% in August 2026 as distribution companies installed more than 141,000 meters, but about 4.7 million active customers still lack meters, leaving them exposed to estimated billing.

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.

Tenaris invested about $10 million to refurbish a five-layer thermal insulation line at its Onne plant in Rivers State, making it the only such facility in sub-Saharan Africa, after completing a coating campaign for the Bonga North deepwater project.

Nigerian electric mobility company MAX has extended its Series B3 round to $29 million after an investment from US climate fintech Nithio, funding expansion of electric vehicle financing and battery swapping across West and Central Africa.

Gabon sold $580 million in eight-year Eurobonds at a 9.375% coupon, attracting an order book of nearly $1 billion and a risk premium about 50 basis points below its July sale, even as the oil-dependent state remains heavily indebted.

At its annual meetings, the International Monetary Fund urged Nigeria to broaden its revenue base beyond oil and redirect subsidy savings to vulnerable households, warning that blanket energy subsidies are expensive, regressive and unsustainable.

The Central Bank and Debt Management Office plan N5.40 trillion in Treasury bill offers between October and December 2026, with nearly 76% in 364-day instruments, a structure that largely rolls over maturing obligations rather than raising new money.

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.

Headline inflation eased to 14.63% in September 2026 from 15.39% in August as food prices retreated, but the National Bureau of Statistics reported that core and urban price pressures picked up, complicating the outlook for further rate cuts.

The NBS said headline inflation dropped to 14.63% in September from 15.39% in August, with month-on-month food prices falling 1.55% and core inflation at 12.95% year-on-year.

NAFDAC destroyed N22.73 billion worth of unsafe and substandard products between January and August 2026, seizing cosmetics, drinks, drugs and food in nationwide raids.

Kenya has cleared 19 of 21 FATF action items and aims to exit the grey list by April 2027 after raising its cash-withdrawal reporting threshold and moving to tighten rules on frozen assets and proliferation financing.

The IMF's October Regional Economic Outlook upgraded Sub-Saharan Africa's 2026 growth forecast to 4.5% while warning that bilateral aid will fall another 12% after dropping about a quarter in 2025.

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.

Gabon sold $580 million of eight-year Eurobonds on 14 October with a 9.375 per cent coupon, drawing close to $1 billion in orders and trimming its risk premium despite higher US rates.

The IMF said the CBN's cut of the policy rate to 23% was appropriate and 'the right thing to do', but stressed Nigeria's monetary stance remains tight and disinflation incomplete.

Moody's has revised sub-Saharan Africa's outlook to positive as reforms, commodity prices and better financing ease debt pressures, though interest burdens remain high for several countries including Kenya and Zambia.

Lagos State and the African Development Bank have launched a scheme to support 610 women-led businesses with training, mentoring and grants to improve access to finance.

Nigerian telecom operators spend more than $350 million a year on diesel, consuming over 40 million litres monthly, while the switch to solar-hybrid power remains stuck at about a fifth of towers.

Minister of Power Joseph Tegbe says there is no plan to raise electricity tariffs, insisting the focus is round-the-clock supply as the FG flags off 17.7MW of mini-grids in Oyo State.

The music major is trimming staff worldwide as it funds AI-era licensing infrastructure and redirects resources to high-growth priorities.

The directive puts telecom operators at the centre of gambling oversight, requiring them to confirm that betting platforms on their networks hold valid state licences.

Nigeria's monetary framework has delivered stability; converting it into durable growth is a harder, longer project that asks as much of fiscal policy and the market as of the central bank.

The food and drug regulator seized fake packaging for alcoholic beverages across shops in Aba, stepping up enforcement against product adulteration.

The country ships raw ore while importing processed products, ceding the industrial and jobs gains that processing would create, industry observers warn.

Cardoso succeeds Ireti Samuel-Ogbu at the helm of the Africa Finance Corporation, adding a continental infrastructure-finance role to his central bank duties.

The naira strengthened at the official window while holding near N1,358 in the parallel market as traders positioned for the September inflation release.

Lower intervention reflects a calmer currency market and record reserves, but analysts caution it may also signal compressed import demand rather than a self-sustaining market.

The IMF says Nigeria's improving growth outlook is not easing poverty fast enough, pressing for better-targeted spending and a broader revenue base.

The FG and IFAD launch the 13th Joint Supervision Mission of the Value Chain Development Programme, praising rice and cassava gains while flagging disbursement and counterpart-funding gaps.

The Federal Government's WHEAT-NESS programme targets value chain development, MSME support and a dedicated fund as annual wheat consumption and imports hit six to seven million metric tonnes.

US consumer prices rose 3.7 per cent year on year in September, above expectations, jolting global markets and lifting bets that the Federal Reserve may raise rates.

The IMF used its fiscal monitor briefing to warn against restoring broad fuel subsidies. This analysis examines the fiscal arithmetic, the politics and the realistic path for Nigeria.

Layer3 has completed the issuance of N1.5 billion in commercial paper, its first raise under a larger N15 billion programme, to finance local cloud and data infrastructure.

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 Debt Management Office raised N450 billion at its treasury bills auction on Wednesday, leaning on the 364-day tenor as the market's primary pipeline climbed above N3 trillion.

The Central Bank of Nigeria and the Federal Ministry of Finance have placed single-digit inflation at the centre of Nigeria's medium-term strategy, with Finance Minister Taiwo Oyedele estimating that achieving it would save more than $10 billion on 2026 figures.

Gross external reserves rose to an all-time high of $55.07 billion in early October while net reserves climbed to a record $46 billion, CBN Governor Olayemi Cardoso said.

Brent crude rose to about $107 a barrel as Middle East attacks threatened supply through the Strait of Hormuz, a windfall and a cost for Nigeria.

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.

NIBSS has built its National Payment Stack on Transactility's open-source jPOS technology, gaining full source-code control of Nigeria's instant payments platform.

Nigeria's stock market has surged about 66% this year on domestic money alone, raising the question of how durable a rally can be without foreign investors.

Ibom Air has appointed Mfon Udomah as Executive Director, Finance, and Dr Eno Udoma-Eniang as Executive Director, Legal and Corporate Affairs.

Sunbeth Global Concepts plans to raise up to N150 billion under a N500 billion commercial paper programme to fund cocoa purchases and a processing expansion.

Multi-Trex Integrated Foods shares have risen 17.95% since the NGX lifted an eight-year trading suspension, even as the cocoa processor remains loss-making.

Communities hosting the Eastern Gas Pipeline Network gave PINL and NNPCL two weeks to settle three months of unpaid surveillance payments and address grievances.

Domestic airlines could lose over N6.6 billion from the planned 25-day closure of Owerri's Sam Mbakwe airport for runway rehabilitation, affecting 55,000 passengers.

The Debt Management Office plans to raise N5.75 trillion through FGN bond auctions in October, November and December, as domestic borrowing rises.

G-24 chair Taiwo Oyedele said developing countries pay about $500 billion more for debt than developed economies, urging cheaper IMF and World Bank financing.

The Nigerian Export Promotion Council warns that exporters could lose more than $1 billion a year if they fail to meet EU deforestation rules, with cocoa most exposed.

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

Nigerian startups attracted about $254 million in the first half of 2026, the first time funding has crossed the $250 million mark since 2022, as the country reclaimed its position as Africa's leading destination for startup equity.

The initial public offering of Dangote Petroleum Refinery and Petrochemicals was scheduled to close on October 13, 2026, a landmark test of whether Nigerian retail investors will buy into the country's biggest company.

The SEC warned that Wayvepay is not registered to operate in the capital market, after the platform said it would offer access to the Dangote Refinery IPO.

NNPC Limited has cut petrol pump prices at its retail stations, joining a downstream price war that is easing costs for motorists but squeezing marketers.

The Central Bank of Nigeria lowered its benchmark interest rate by 350 basis points on September 22, 2026, the steepest cut on record, as inflation eased for a third straight month and reserves strengthened.

The National Insurance Commission has begun final verification of insurers' compliance with higher capital requirements, with consolidation expected to follow.

The Central Bank of Nigeria is mopping up excess cash to keep money-market conditions tight, supporting the naira and inflation but keeping borrowing costs elevated.

The naira held broadly steady around N1,370 to the dollar as stronger reserves, tighter policy and returning portfolio inflows kept the currency within a narrow range.

Fitch Ratings has revised Nigeria's credit outlook to Positive from Stable, citing sustained reforms, disinflation and improved foreign reserves of $54.9 billion.

Nigeria's equities market fell for a second straight session on October 13, with the All-Share Index slipping 0.09% as investors booked profits in large-cap stocks after a record run.

Airtel Money has debuted on the London Stock Exchange in one of the largest African listings in years, with a planned secondary listing in Lagos.

The IMF has warned that AI could disrupt about 40% of jobs worldwide, urging governments to prepare workers and share the gains from the technology.

Anthropic researchers have warned that small AI models could self-replicate across connected devices, sharpening debate over how to control advanced systems.

The IMF has warned that Nigeria's improving economic indicators are not reaching the poorest households, questioning whether the country's reforms are creating shared prosperity.

The agency affirmed Nigeria's sovereign rating at B but changed the outlook to positive, citing naira flexibility, disinflation and faster-than-expected reserve accumulation.

The state oil company's retail arm is giving up its margin for 30 days, offering temporary relief without imposing a nationwide pump price.

Conditional trading began on 9 October, with full admission expected on 14 October as Airtel Africa retains its strategic holding.

The mobility-finance company ended local operations after six years and said eligible drivers would make no further vehicle payments from 1 October.

The economy expanded faster in the first half of 2026 and retained a current-account surplus, but the development lender says stronger public revenue must translate into services and jobs.

The latest projection is an improvement on the 4.0 percent growth recorded in 2025, with the multilateral lender expecting Nigeria’s...

The country's largest financial group by assets has received another NGX extension for its audited first-half results while it waits for regulatory approval from the Central Bank of Nigeria.

Affordable Credit Becomes a Sector Priority Maiha said the ministry will work with the finance ministry and the CBN to secure loans with...

The latest decline puts OANDO on course for a fifth consecutive losing session , extending a run that has taken the stock from ₦36.15 at...

For now, Dangote is signalling that the refinery plans remain on course, while the legal process will determine how the disputed site...

The proposal centres on training and deploying more National Youth Service Corps members to farms, giving young graduates direct...

Waste Is Becoming a Supply Chain Nigeria is estimated to generate about 840,000 metric tonnes of used cooking oil annually, while more...

The state government made the commitment during the 2026 World Tourism Day celebration at Arinta Waterfall in Ipole-Iloro, where it said...

Up to $25 billion could become available for India's deep-tech sector, covering areas such as artificial intelligence, semiconductors...

The requirements are expected to begin taking effect from 2027, turning the court case into a potentially significant test of how far...

Its battery-electric vehicle sales in China increased 36% in August, suggesting that parts of the transition are beginning to gain...

The Land Dispute Is Now Part of the Project The case was brought by 133 Chandavai residents who say their families have occupied and...

Zenith's move is particularly notable because the bank had closed Monday at ₦135.40 after gaining 0.37%, with the stock trading close to...

UPL and CMFC Lead the Price Movers University Press led the gainers with a 9.89% increase to ₦5, narrowly ahead of CMFC, which rose...

The official NFEM rate moved only N1.5 against the naira, but the parallel-market rate weakened by N4 from the previous weekend and the...

A sustained run in financial-sector stocks lifted the value of the Nigerian Exchange to a record N164 trillion at the end of September, capping one of the strongest equity rallies in years.

More Money Was Collected, But the Gap Remains The ₦205.53 billion collected in July represents a 7.12 per cent increase from ...

External debt stood at the equivalent of ₦75.20 trillion, while the entire debt portfolio was valued at about ...

The group paired a 16.2 percent profit increase with faster deposit growth and a lower cost-to-income ratio in its 2025 accounts.

Customer deposits expanded and the capital ratio remained strong, but the 2025 accounts showed that balance-sheet growth did not produce higher gross revenue.

The discount applies to outstanding statutory fees owed to aviation agencies and is intended to steady carriers facing a sharp rise in Jet A1 prices.

Gross premium written rose 47.3 percent in 2025, while low retention in specialist risks showed why the industry's new capital rules matter.

The Federal High Court dismissed the airline's attempt to block summons issued after passenger complaints about cancelled flights and unpaid refunds.

The secured overnight reference rate is intended to improve pricing transparency and give financial contracts a more reliable base rate.

The consumer regulator said its lending rules target opaque charges and aggressive recovery practices, not lawful telecom credit products.

The companies registry said limited parts of its systems were accessed without authorisation, prompting containment work, an investigation and stronger login controls.

The six-year programme targets one million smallholders and aims to mobilise another $220 million from agribusinesses.

The two-year exercise lifted paid-up capital across the banking system, with the regulator saying every affected lender chose a route to compliance.