A concise overview of today’s key developments across Africa
Business & Macro
- 🇰🇪 Kenya has launched a buyback of a $1 billion eurobond maturing in 2028, part of what officials describe as “proactive management” of the country’s external debt profile. The move is aimed at easing repayment pressures and stabilising investor confidence.
- 🇲🇼 Malawi will receive a $100 million line of credit from the African Export-Import Bank to bolster NBS Bank’s trade finance portfolio, supporting import-export flows and liquidity for local businesses.
- 🌍 IMF Outlook: Ahead of its October 14 release, the IMF’s World Economic Outlook projects global growth at 3.2% in 2025, with emerging markets expected to expand by 4% while advanced economies slow to 1.7%.
Climate & Energy
- 🇸🇳 Senegal is seeking to raise $2–5 billion to finance a new oil refinery, with investment offers already received from China, Turkey, and South Korea. The project is expected to begin construction in 2026 and aims to reduce reliance on imported refined fuels.
- 🇲🇿 Mozambique has announced conditions are now secure for TotalEnergies to restart its $20 billion LNG megaproject, paused since 2021 due to militant attacks. The project is seen as critical to Europe’s diversification away from Russian gas.
Geopolitics & Policy
- 🇲🇬 Madagascar’s government reaffirmed it will not tolerate calls for a coup or unconstitutional power changes, with President Andry Rajoelina’s spokesperson stressing stability ahead of next year’s elections.
- 🇪🇬 Egypt has intensified diplomatic efforts urging Hamas to accept the U.S. peace plan for Gaza, amid mounting regional pressure following Israel’s latest military operations.
Tech & Deals
- 🇰🇪 Kenya’s internet service provider Mawingu secured $20 million in funding from Pembani Remgro Infrastructure Managers, aimed at expanding rural broadband connectivity.
- 🇳🇬 Nigeria’s private equity firm Verod has sold its stake in Tangerine APT Pensions, which manages $302 million in assets, to APT Securities and Funds, marking a significant reshuffle in the pensions sector.
- 🇿🇦 South Africa’s telecoms giant MTN will consolidate its cloud services by discontinuing the use of two third-party data centres in Johannesburg and Cape Town, shifting operations to its own facilities.
- 🇿🇦 South Africa also saw the launch of Bybit’s crypto trading platform, allowing rand-based purchases of digital assets without intermediaries, a move expected to expand access to the country’s $2 billion crypto market.
Human Rights & Society
- 🇾🇪 Yemen (regional relevance): Press freedom groups have condemned the abduction of Yemeni journalist Majed Zayed by Houthi authorities in Sanaa, highlighting the risks faced by media workers across conflict zones.
- 🇿🇦 South Africa: A new report by Open Secrets has criticised the “financialisation” of healthcare, warning that a small group of private actors are profiting at the expense of affordability and access for patients.
Outlook
Africa’s economic and political landscape remains dynamic: Kenya’s debt management, Senegal’s refinery ambitions, and Mozambique’s LNG revival highlight the continent’s balancing act between fiscal prudence and energy expansion. Meanwhile, tech investment and digital finance continue to reshape markets, even as human rights concerns and geopolitical tensions underscore the fragility of progress.
Sources: Business Tech Africa; African Reporter; MyZA World News; Semafor.
