Business & Macro
🇿🇦 South Africa — The National Treasury confirmed it is on track to meet its debt-to-GDP and primary budget balance targets for 2025, with revenues up more than 10% in the first five months of the fiscal year and spending growth contained at 4% Reuters | MSN. The debt-to-GDP ratio, which surged to 77% this year, is expected to stabilize before declining.
🇳🇬 Nigeria — Citibank Nigeria has raised its capital base to ₦200 billion ($136 million), meeting the Central Bank of Nigeria’s new recapitalization threshold for national banks ahead of the March 2026 deadline Ecofin Agency. The move strengthens Citi’s ability to finance infrastructure, energy, and trade projects, though only 14 of Nigeria’s 36 banks have complied with the new rules so far.
Climate & Energy
🌍 IFC Investment — The International Finance Corporation (IFC) has proposed a $6 million equity investment in the Catalyst Fund, which is raising $40 million to back early-stage African climate-tech startups empowerafrica.com. The fund targets ventures in climate resilience fintech, sustainable agriculture, and clean energy services, with a focus on Nigeria, Kenya, Egypt, South Africa, and Senegal.
Geopolitics & Policy
🇪🇹 Ethiopia–🇪🇷 Eritrea Tensions — Ethiopia has written to the United Nations, accusing Eritrea of colluding with a hardline faction of the Tigray People’s Liberation Front (TPLF) to prepare for war BBC | MSN. Addis Ababa alleges Eritrea is funding and mobilizing armed groups in the Amhara region. Eritrea dismissed the claims as “provocative sabre-rattling” AFP | MSN, while the TPLF also rejected the accusations as “unfounded” APAnews.
🇨🇩 DR Congo — The World Health Organization reported that the Ebola outbreak declared on 4 September in Kasai Province is now contained, with no new cases in 10 days WHO | Regional Office for Africa. A total of 64 cases and 43 deaths were recorded, but authorities say the country is close to beginning the 42-day countdown to officially declare the outbreak over.
Tech & Deals
🇬🇭 Ghana — Virgin Music Group has signed a global distribution partnership with Ghanaian digital platform MiPROMO, expanding its footprint in Africa Music Business Worldwide. The deal will give Ghanaian artists access to Virgin’s international distribution network, while MiPROMO continues to provide local expertise in digital distribution, branding, and artist development.
🇿🇦 South Africa — The Johannesburg Stock Exchange (JSE) has appointed Valdene Reddy as its next Group CEO, effective April 2026, succeeding Leila Fourie Nairametrics. Reddy, currently Director of Capital Markets, is expected to focus on expanding product offerings, driving technological innovation, and enhancing accessibility for investors across Africa.
Security & Human Rights
While no major new human rights developments were reported today, regional observers continue to monitor youth-led protests in Madagascar and Morocco, alongside conflict risks in Ethiopia’s Amhara region, as key flashpoints for stability on the continent.
Summary: Africa’s economic outlook shows cautious progress, with South Africa stabilizing debt, Nigeria’s banks recapitalizing, and IFC channeling funds into climate innovation. Meanwhile, geopolitical tensions in the Horn of Africa and public health gains in DR Congo highlight the continent’s complex balance of risks and resilience.
Sources: Reuters, Ecofin Agency, IFC, WHO, Music Business Worldwide, Nairametrics, News24, Africanews.
