African markets and business updates

A high-level Norwegian delegation led by Andreas Kravik, Norway’s Deputy Minister of Foreign Affairs, visited Lagos today to engage with key participants in Nigeria’s innovation ecosystem, underscoring growing international interest in the country’s entrepreneurial talent, technology sector and long-term economic potential. Hosted at the headquarters of OmniRetail, the award-winning B2B e-commerce and supply chain technology […]

CMA CGM announced new Freight All Kinds (FAK) rates from the Indian Subcontinent to multiple regions, reflecting continued pricing pressure across global trade lanes. The new rates to Central America, the Caribbean and South America’s west coast will apply from June 10, 2026, based on gate-in dates at origin ports. The carrier will apply the rates to dry and hazardous cargo moving from the Indian Subcontinent. Among Latin American destinations, La Guaira and Puerto Cabello recorded the highest pricing levels.…

MTN Nigeria put its data consumption on trial and invited its subscribers to be the jury, while renown consulting firm KPMG served as the referee.

Japan’s six major ports handled 1.21 million TEUs of oceangoing containers in March, increasing 1.2% year-on-year. Export growth supported the increase, while imports declined during the month. Export volumes reached 616,578 TEUs, up 4.8%, while imports fell 2.2% to 594,926 TEUs. Tokyo remained the largest container gateway among the six ports. The port handled 353,753 TEUs, down 0.8% year-on-year. Exports increased strongly by 9.4% to 167,458 TEUs. Imports moved lower, declining 8.4% to 186,295 TEUs.…

A new class of seasoned energy executives is steering Africa’s downstream transformation in 2026, bringing together decades of experience across global oil, gas, and petrochemicals. Many have worked across major international operators, led refinery start-ups, and managed large-scale production and supply chain systems spanning Europe, Asia, the Middle East, and Africa. Now leading some of […]

OpenAI is planning the biggest redesign of ChatGPT since its 2022 launch, with plans to transform the chatbot into a "superapp" combining coding tools, AI agents, and third-party integrations, according to a report by the Financial Times.

MSC Mediterranean Shipping Company will withdraw its Indus Express service connecting the US East Coast with the Middle East and Indian Subcontinent, ending a service that has been operating since 2014, according to DynaLiners. The carrier previously extended the service into the Middle East Gulf, although network adjustments over recent years have reshaped the product offering. At the time of its withdrawal, the Indus Express rotation connected Port Qasim, Nhava Sheva, Mundra, Caucedo, Freeport, Savannah…

The Centre for the Promotion of Private Enterprise Centre for the Promotion of Private Enterprise has called on the House of Representatives to reject the Sugar-Sweetened Beverage Tax Bill recently passed by the Senate, warning that the proposal could worsen Nigeria’s business environment.

President Isaias Afwerki departed for Cairo in the mid-afternoon hours today for a three-day official visit to Egypt. During the visit, President Isaias will hold extensive discussions with President Abdel Fattah El-Sisi on the enhancement of broad bilateral ties, including cooperation in the economic and other sectors. The two Presidents will also discuss vital issues regarding the Horn of Africa, the security of the Red Sea, and developments in the Middle East. The Presidential delegation includes Mr.…

Athlete Nahom Ermias from the Gash Barka Region became champion of Asmara Marathon 2026, held today along the main streets of Asmara. Asmara Marathon is being conducted for the seventh time. Athlete Nahom finished the race in two hours, 16 minutes, and 22 seconds, followed by Olympian Athlete Okbe Kibrom from the Central Region Club and Olympian Athlete Okbai Tsegay from Denden Club, who finished second and third respectively. In the women’s half marathon category…