Business & Macro
- Nigeria and South Africa Exit FATF Grey List
The Financial Action Task Force (FATF) has officially removed Nigeria and South Africa from its “grey list” of countries under increased monitoring for illicit financial flows. Both nations had been listed since 2023 but were delisted after implementing reforms to strengthen anti-money laundering and counter-terrorist financing frameworks. The move is expected to boost investor confidence, ease cross-border transactions, and improve access to global capital markets Moneyweb Arise News. - Kenya Negotiates Compensation with Adani Group
Kenya has begun talks with India’s Adani Group over compensation following the cancellation of a KSh 96 billion ($744 million) contract to build power transmission lines and substations. The deal, scrapped in late 2024 amid corruption allegations against Adani executives, could cost Kenya at least KSh 5 billion ($40 million) in damages. Officials say they prefer a negotiated settlement to avoid lengthy arbitration Tuko News Bana Kenya.
Climate & Energy
- Mozambique LNG Project Costs Surge
TotalEnergies has requested a 10-year extension on its liquefied natural gas (LNG) production agreement in Mozambique after project costs rose by $4.5 billion during a four-year suspension caused by Islamist militant attacks. The French energy giant now estimates first LNG output in 2029, nearly five years later than initially planned World Energy News Rigzone.
Geopolitics & Policy
- Mali Shuts Schools Amid Militant Blockade
Mali’s government has closed schools and universities nationwide for two weeks due to a fuel blockade imposed by the al-Qaeda-linked Jama’at Nusrat al-Islam wal-Muslimin (JNIM). The blockade has stranded fuel trucks at borders, crippling transport and forcing the education ministry to suspend classes until at least November 9 ABC News Aljazeera. - Djibouti Removes Presidential Age Limit
Djibouti’s parliament has voted to abolish the 75-year age cap for presidential candidates, clearing the way for 77-year-old President Ismaïl Omar Guelleh to seek a sixth term in the April 2026 elections. Guelleh has ruled since 1999, and the amendment consolidates his ability to extend his more than two-decade tenure Aljazeera Africanews.
Tech & Deals
- Spiro Secures $100 Million for E-Mobility Expansion
Rwanda-based Spiro, Africa’s leading electric motorcycle and battery-swapping company, raised $100 million in a round led by the African Export-Import Bank (Afreximbank). The funds will expand its fleet to 100,000 vehicles and deploy thousands of solar-powered swap stations across multiple African markets TechCrunch spironet.com. - Nigerian Fintech Lidya Shuts Down
Digital lender Lidya, once a pioneer in Nigeria’s fintech sector, has ceased operations after nearly a decade, citing severe financial distress. Founded in 2016, the company raised about $16 million and disbursed loans to thousands of SMEs but struggled with repayment defaults and investor pullback Nairametrics Ripples Nigeria. - Food Security Boost from Global Fund
The Global Agriculture and Food Security Program (GAFSP) has allocated $14 million to the African Development Bank (AfDB) under a new private-sector financing window. The funding aims to unlock $200 million in private investment for agribusinesses and smallholder farmers in countries including Ethiopia, Uganda, Tanzania, Malawi, and Zambia ZAWYA afdb.org.
Security & Human Rights
Across the continent, conflict-driven disruptions continue to affect education, energy, and livelihoods. From Mali’s militant blockade to Mozambique’s LNG delays, instability remains a key obstacle to development. Meanwhile, governance reforms in Djibouti and financial transparency gains in Nigeria and South Africa highlight the region’s complex balance between progress and persistent challenges.
Sources: FATF; Al Jazeera; Moneyweb; Tuko Kenya; World Energy News; ABC News; Al Jazeera; TechCrunch; Nairametrics; AfDB.
