Kenya’s Q2 GDP grows 5%, driven by services and rebound sectors Easing inflation leads to rate cuts, boosting lending and demand Shilling gains on dollar; Ruto forecasts 5.6% annual growth Kenya's economy grew by 5% in the second quarter of 2025, up from 4.6% recorded during the same period in 2024, according to data released Tuesday by the Kenya National Bureau of Statistics...

AGOA expires, raising costs and uncertainty for African exporters. U.S. backs one-year extension; long-term outlook remains unclear. Broader reform proposal aims for 2041 renewal, tied to AfCFTA. The African Growth and Opportunity Act (AGOA) expired on September 30, creating immediate trade uncertainty for African exporters, even as the White House signaled its support for a one-year...

IMF approves $843.9M deal after Côte d'Ivoire program reviews Funds to support fiscal reforms, climate resilience, and growth Economy on track: 6.3% GDP growth, 1% inflation forecast The International Monetary Fund (IMF) has reached a staff-level agreement with Côte d'Ivoire that will clear the way for a total disbursement of $843.9 million to the West African...

The BCEAO (Central Bank of West African States) officially launched its regional instant payment platform, PI-SPI, in Dakar. While initially announced with the participation of 86 financial institutions, the platform ultimately went live with only 45. A notable detail is the absence of French and Moroccan banking groups from the initial participants. The Central Bank of West African States...

Nigeria posted 4.23% GDP growth in Q2 2025, driven by oil output and non-oil sector expansion. Reforms, including fuel subsidy removal and FX unification, released over ₦10 trillion for social programs and infrastructure. Foreign reserves exceeded $42 billion, with a $13.17 billion trade surplus, attracting investor interest and credit upgrades. Nigeria...

Firmin Édouard Matoko, former UNESCO Assistant Director-General for Africa, formally announced his candidacy for Director-General, emphasizing continuity and selective reforms. His platform focuses on education and training as levers of development, at a time when Sub-Saharan Africa faces massive demographic and employment challenges. The election to succeed Audrey Azoulay will take...

Hongfuhan plans to invest $155.2 million in a 30MW solar-plus-storage project to power the Kamoa Mining complex in the Democratic Republic of Congo (DRC). The project is projected to generate $48.7M in annual revenue and achieve an internal rate of return (IRR) of approximately 12% over 15 years. Slated for completion by mid-2026, the venture highlights China's strategic...

Somalia will conduct its first offshore oil drilling, though no date or location has been disclosed. Government and industry estimates suggest a potential of 30–40 billion barrels of oil, but no proven reserves exist. President Hassan Sheikh Mohamud called the project a “new economic adventure” to test offshore resources. Somalia is preparing to launch its first offshore oil...

DR Congo’s exports to the U.S. rose by over $1 billion between April and July 2025. Ethiopia and Kenya posted respective export growth rates of 95% and 22% over the same period. U.S. tariffs on African exporters stand at 10–11%, far below the 30% duties applied to Asian exporters. The Democratic Republic of Congo (DRC), Kenya, and Ethiopia increased exports to the United...

A $1 billion agro-industrial project in Mbanza-Ngungu, DRC, will process cassava, maize, and rice, aiming to create approximately 20,000 jobs. The project is a public-private partnership with Switzerland's Mole Group, supported by industrial giants Bühler and Desmet. While initial operations are scheduled for June 2026, the $1 billion financing structure and specific...