• Nigerian household debt reached a record \$38.7 billion in April 2025, 20.4% of GDP, surpassing corporate debt• Inflation (23%) and low incomes are driving borrowing for consumption and small business needs• Rising defaults pose risks to banks, especially smaller ones, despite strong profits at major lenders Nigerian household debt reached a record $38.7 billion in April 2025,...

• Nigerian Clarion Shipping West Africa Limited debuts vessel aimed to service the cabotage market in the country, and potentially beyond. • The move aligns with broader efforts to support the African Continental Free Trade Area by fostering reliable intra-African cabotage, powered by local players. Africa’s cabotage market is mostly dominated by international shipowners. But the recent...

 • Kamoa-Kakula, DRC's largest copper mine, boosts production by 31% to 245,127 tonnes in H1 2025, despite a temporary halt in operations in May. • Despite the surge, the annual production is still projected to decline. The Democratic Republic of Congo's largest copper mine, Kamoa-Kakula, recorded an increase in processing capacity following the commissioning of a new concentrator...

• The IMF has approved an immediate disbursement of $367 million to Ghana, bringing the total financial support provided to the country since May 2023 to nearly $2.3 billion. • Despite growth, exceeding expectations in 2024 and Q1 2025, due to strong performance in mining, agriculture, ICT and construction sectors, the IMF notes a decline in the implementation of economic...

• The African Free Trade Area (AfCFTA) adjustment fund grants a $10 million loan to Telecel Global Services to boost digital connectivity and commercial integration in Africa. • This financing, in the form of a guaranteed first rank repayable loan, marks the fund's first transaction and will support Telecel's expansion in Ghana and Liberia as well as bolster its...

PAPSS launches platform performing direct currency conversion and fostering economic integration across Africa. The continent loses about $5 billion yearly due to lack of currency. In a bid to address the billion-dollar loss brought about by the diversity of currencies and regulatory environments in Africa, and the inconvertibility of currencies, the Pan-African Payment and...

Chinese firm Dowstone Technology to invest $165 million in a new copper smelter in the DRC. China imported 36% of its copper from the DRC in 2024, up from 10% in 2020. The DRC government seeks to reduce reliance on Chinese mining partners, who control 80% of operations. Chinese battery materials producer Dowstone Technology will build a $165 million copper smelter in the...

Somali President Hassan Cheikh Mohamoud visited Egypt to boost cooperation in political, economic, security, and military sectors. Discussions focused on regional security challenges in the Horn of Africa and the Red Sea. Bilateral trade more than doubled in 2024, reaching $127.73 million. Somali President Hassan Cheikh Mohamoud paid a working visit to Egypt on July 7, 2025,...

Zenith Bank is in advanced talks to acquire a tier-two bank in Kenya. The Central Bank of Kenya has raised capital requirements, triggering market consolidation. Zenith raised $228 million in early 2025 to support expansion across Africa. Nigeria's Zenith Bank is negotiating the acquisition of a mid-sized Kenyan bank, marking its first expansion into East Africa, sources...

• China approved soybean meal imports from Ethiopia on July 3, 2025.• Ethiopia exported 29,408 tonnes of soybeans to China in 2024, earning $18 million.• The deal strengthens Ethiopia’s agricultural trade position in Asia. Ethiopia has secured access to China's soybean meal market, marking a new phase in the two countries’ agricultural trade ties. On July 3, 2025, China’s...