African markets and business updates

The Islamic Development Bank Institute (IsDBI) ( ) and the International Monetary Fund Middle East Center for Economics and Finance (IMF-CEF) successfully concluded their first joint workshop, held from 6 to 10 September 2026 in Kuwait City. The workshop, titled “Capital Adequacy Implications for Islamic Banks Based on Basel III,” brought together senior officials and specialists from central banks and ministries of finance across the region. The program was delivered by Dr. Abozer Mohamed, Senior Islamic Finance Specialist at IsDBI , and focused on key capital adequacy considerations arising from the application of Basel III standards to Islamic banking institutions.…

The Federal Government has raised ₦728.9 billion through the Series 2 issuance under its ₦4 trillion Power Sector Multi-Instrument Issuance Programme, bringing the total raised under the debt reduction programme to more than ₦1.1 trillion.

Rhenus Project Logistics has completed the transport of more than 400 tonnes of transformer equipment from China to Canada. The operation supported a major industrial project and included two oversized transformers weighing 80 tonnes each. Multimodal transport from China Rhenus managed the equipment across several project phases using a combination of ocean, rail and road […] Rhenus Project Logistics has completed the transport of more than 400 tonnes of transformer equipment from China to Canada. The operation supported a major industrial project and included two oversized transformers weighing 80 tonnes each .…

Dangote has defended the figure and plans to expand capacity to 1.4 million barrels per day, potentially making it the world's largest refinery.

A giant wave now covers part of the Vatican Apostolic Library’s historic façade as the Vatican opens a new exhibition exploring the power of water.

Nigeria’s inclusion in a J.P. Morgan global bond index is expected to attract about $17.5 billion into the country’s debt market and lower bond yields by up to 200 basis points.

President William Ruto has announced that Kenya plans to generate between 2,000MW and 5,000MW of nuclear power from a plant as he continued his development tour of Nyanza. This plant will be established in Siaya. Moreover, this project comes in as East African countries like Uganda race to develop nuclear power in bid to boost […]

Monday’s disruption showed the gap between the demand the platforms expected and the traffic they ultimately had to absorb. On Monday morning, Nigerians rushing to own a part of Dangote Petroleum Refinery could not access the initial public offering (IPO) as Cowrywise and Bamboo, two of Nigeria’s biggest investment fintechs, struggled under the weight of traffic built up by months of marketing. Users who tried accessing the IPO took to social media to report problems logging in, slow-loading apps, error messages and difficulty accessing the offer. Bamboo and Cowrywise acknowledged the disruption on X, both saying they were working to restore access to their platforms.…

Indonesia and Cameroon have identified potential cooperation in rail transport, maritime services and electric mobility, with Indonesian companies being considered as possible partners for several transport projects. The discussions took place during a September 4 meeting in Yaoundé between Cameroon’s Transport Minister Jean Ernest Masséna Ngallè Bibhèhè and Indonesia’s Ambassador to Cameroon, Agung Cahaya Sumirat, according to Cameroon’s Ministry of Transport. The two sides discussed possible partnerships in the railway, maritime and public transport sectors, including the supply of rolling stock, railway rehabilitation, shipyard modernization and electric vehicles.…

A large-scale attack on a central army base in Mali last week killed at least 50 soldiers and five Russian Africa Corps paramilitaries, security and local sources told AFP Monday.