🏢 Business & Macro
Nigeria’s Dollar Bonds Slide
Nigeria’s sovereign dollar bonds recorded the steepest losses in emerging markets on Monday, following threats from U.S. President Donald Trump of possible aid cuts and military action over religious violence Cryptopolitan InsideBusiness. According to Bloomberg data, bonds maturing in 2047 fell as much as 0.6 cents on the dollar to 88.26 cents, while the naira weakened by 20 basis points against the U.S. dollar. Analysts warn that heightened political risk could further dampen investor confidence.
🌱 Climate & Energy
Chevron Enters Guinea-Bissau
Chevron has secured rights to explore for oil and gas in offshore Blocks 5B and 6B of Guinea-Bissau’s MSGBC basin. The U.S. multinational will hold a 90% operating stake, with state-owned Petroguin retaining the remaining 10% channelafrica.co.za. The move underscores growing interest in the MSGBC basin, which has seen major discoveries in Senegal and Mauritania.
Dangote Refinery Surpasses National Demand
Nigeria’s Dangote Petroleum Refinery announced it is now supplying 45 million litres of petrol and 25 million litres of diesel daily, volumes that exceed the country’s consumption needs Arise News TheCable. The refinery, Africa’s largest, has pledged uninterrupted supply through the holiday season, reducing reliance on imports and stabilising pump prices.
🌐 Geopolitics & Policy
Guinea-Bissau Coup Attempt Foiled
The Guinea-Bissau military confirmed the arrest of several senior officers accused of plotting a coup on 30 October, just days before campaigning began for the 23 November general elections Al Jazeera TheCable. Among those detained was Brigadier General Daba Nawalna, director of a military training centre. President Umaro Sissoco Embaló, who is seeking re-election, condemned the attempt as an effort to derail the democratic process.
Election Campaign Underway
Campaigning officially began this week, with 12 presidential candidates contesting the polls. Embaló remains the frontrunner, though the exclusion of the main opposition party has raised concerns about electoral fairness Africanews.
💻 Tech & Deals
DEG Invests in Helios Fund V
Germany’s development finance institution DEG has committed $25 million to Helios Investors V, a private equity fund targeting growth-stage companies across Africa startupresearcher.com. The fund will focus on fintech, ICT, healthcare, consumer goods, and renewable energy.
KCB Eyes Stake in Pesapal
Kenya’s largest lender, KCB Group, has signed an agreement to acquire a minority stake in Pesapal, a leading payments platform Business Daily Africa Techweez. The deal, subject to approval by the Central Bank of Kenya and the Competition Authority, is part of KCB’s strategy to expand its fintech footprint and support small and micro enterprises.
Exxaro Divests Ferroalloys Unit
South Africa’s Exxaro Resources has completed the sale of its FerroAlloys business to a consortium led by EverSeed Energy for R250 million ($13.8 million) Miningmx IOL. The divestment aligns with Exxaro’s strategy to pivot towards coal, manganese, and energy transition minerals. EverSeed will hold a 60% stake, with management and employees owning the remainder.
🔐 Security & Human Rights
Guinea-Bissau Stability Concerns
The foiled coup attempt has heightened fears of instability in Guinea-Bissau, a country with a long history of military interventions. Civil society groups have urged authorities to ensure transparent elections and protect human rights during the campaign period Al Jazeera TheCable.
Nigeria’s Energy Security Gains
While Dangote’s refinery output has eased fuel shortages, rights groups stress the need for equitable distribution to rural communities, where access to affordable energy remains limited Arise News.
✅ Summary: Nigeria faces financial turbulence as bonds tumble; Chevron and Dangote expand Africa’s energy footprint; Guinea-Bissau grapples with political instability ahead of elections; DEG, KCB, and Exxaro headline major investment and divestment deals; and human rights concerns persist amid security challenges.
