African markets and business updates

Despite posting some of the world's fastest growth rates, African economies have struggled to convert this momentum into meaningful economic transformation. This is largely because much of the continent's growth has been driven by the accumulation of labour and capital, rather than by improvements in how efficiently these resources are used. Productivity has lagged…

Africa imports over 70% of its medicines and nearly all (99%) its vaccines. The bulk of supplies are generics - lower-cost alternatives to patented drugs - sourced from India and China. Africa's over-reliance on imported pharmaceuticals exposes it to frequent supply chain shocks that put countless lives at risk. Across the continent, shortages of essential drugs and vaccines at public facilities are often reported in local media. Moreover, patients sometimes have to wait longer for new treatments…

As the impacts of the war in the Middle East cascade into African economies, the continent is considering how not only to manage the fallout, but also to use the crisis as an opportunity for structural change and long-term growth. The African Development Bank (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP) and the UN Economic Commission for Africa (UNECA) have jointly released a report examining the effects of disrupted supply chains and surging oil and fertiliser…

The ECOWAS Bank for Investment and Development has approved a total of $266.7m and CFA30bn to finance a portfolio of strategic projects across Nigeria, The Gambia, Ghana, Senegal and Côte d'Ivoire. The approvals, granted at the bank's 95th Board of Directors meeting on 30 March 2026, highlight its continued commitment to advancing sustainable, inclusive and resilient development across the region. Opening the meeting, the bank's president and chairman of the Board of Directors, Dr George Agyekum Donkor…

Speaking at Riyadh's "Future Minerals Forum" in January last year, Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, said that "oil is no longer the energy security challenge - it's going to be gas, electricity and predominantly minerals." The comment was revealing in reflecting the shifting priorities of a country whose wealth has historically been based on oil. Saudi Arabia's "Vision 2030" plan…

Nigeria's economic leadership is increasingly unified around a central objective: stabilising the macroeconomic environment to attract investment and accelerate growth. For Sanyade Okoli, Special Adviser to the President on Finance and the Economy, the country's progress hinges on a shared commitment across fiscal and monetary authorities. "I think it's a shared sense of purpose," she says. "There's a common understanding that the only way we're going to be able to lift people out of poverty, the way Mr.…

The role of philanthropic capital in Africa's health system has come into sharp focus in the wake of massive cuts to international aid. The downturn in external assistance has left fiscally strained African governments with big gaps to fill in healthcare and other sectors, pushing some leaders to turn to wealthy private donors for financial support. Philanthropists have a long history of financing healthcare in Africa. Working through foundations and other non-profits…

The signing ceremony, held in Cairo and attended by Afreximbank President and Chairman of the Board, Dr. George Elombi and Aliko Dangote, President/Chief Executive of Dangote Industries Limited marks one of the continent's most significant financing transactions in recent years. The five-year facility, jointly arranged by Afreximbank and Access Bank (as co-Mandated Lead Arrangers) aims to consolidate existing financing, optimise DPRP's capital structure…

Speaking in Abuja in September last year, Colombia's vice-president, Francia Márquez, emphasised the deep potential she sees for stronger ties between Bogotá and the African continent. Having explored commercial opportunities with her Nigerian counterparts in fields including technology, manufacturing, agriculture and renewables, Márquez stated that Colombia aims to establish wide-ranging relationships with Abuja and other key African partners. "We will work together for social development, social justice…

In 2024, 2.6 billion people remained offline, not by choice but by circumstance. Across Africa, only around 40% of the population is connected to the internet. Even among those who are online, much of their digital activity is hosted elsewhere, on servers and in data centres located far beyond the continent's borders. The global distribution of digital infrastructure highlights the imbalance. Of the world's 10,807 data centres as of early 2026, the United States accounts for 3,960, roughly 37% of global capacity.…