The African economic and geopolitical landscape shifted significantly in early 2026, marked by record-breaking capital market activity in East Africa and a historic moment of national reconciliation in the West. From the surging bond markets of Nairobi to a poignant presidential apology in Sierra Leone, the week has been defined by a mix of rapid industrial expansion and critical humanitarian responses.
Markets & Macroeconomics: East Africa’s Record Surge
The Nairobi Securities Exchange (NSE) concluded the previous year by shattering all previous records in the secondary bond market. Total turnover soared to its highest level ever, a staggering increase compared to the prior year. This surge was primarily driven by commercial banks and insurers rebalancing portfolios following late-year policy rate adjustments.
Concurrently, the World Bank has identified Rwanda and Tanzania as the regional frontrunners for the current year. Rwanda is projected to lead the East African Community (EAC) in GDP growth, followed by Tanzania. This growth is fueled by a combination of resilient domestic consumption and large-scale infrastructure projects.
Climate & Energy: Responding to Crisis and Innovation
A humanitarian crisis has unfolded in South Africa, where the government declared a National Disaster in mid-January. Severe flooding across Limpopo, Mpumalanga, and KwaZulu-Natal has claimed dozens of lives and caused extensive damage to roads, bridges, and the iconic Kruger National Park.
In contrast, West Africa’s green energy sector continues to attract significant capital. Metro Africa Xpress (MAX), a pioneer in Nigerian electric mobility, successfully raised a substantial multi-million dollar round in equity and debt. The funding, led by Novastar and Endeavor Catalyst, will scale the company’s battery-swapping infrastructure as it aims to support hundreds of thousands of drivers in the coming years.
| Entity | Action | Impact |
| South African Gov | National Disaster Declaration | Widespread infrastructure damage |
| MAX (Nigeria) | Electric Mobility Fundraise | Multi-million dollar equity and debt |
| Sahel Capital | SCAF II Agribusiness Fund | Successful first close |
Geopolitics: A Nation Faces Its Past
In a move described by observers as a “milestone for healing,” Sierra Leone’s President Julius Maada Bio issued a formal apology to the victims of the country’s decade-long civil war. During the inaugural National Day of Remembrance, Bio asked for forgiveness on behalf of the nation for the conflict that claimed over a hundred thousand lives. The apology is part of a broader push to implement the long-standing recommendations of the Truth and Reconciliation Commission.
Tech & Industrial Deals: Scaling for the Future
Nigeria’s industrial capacity is set for a massive upgrade following a major contract between the Dangote Refinery and Engineers India Limited (EIL). The agreement covers the “Train 2” expansion, which will significantly increase the refinery’s capacity, positioning it as the largest single-train refinery complex globally.
In the agricultural sector, Sahel Capital secured a significant first close for its West Africa Agribusiness Fund II. Led by Germany’s KfW Development Bank, the fund targets a multi-million dollar final close to bolster food security and climate-resilient supply chains across Nigeria, Ghana, and Senegal.
