Proposed budget set at 33 trillion kwanzas ($36.05 billion) Drop reflects lower oil income and tighter global financial conditions Economy expected to grow 2.6% in 2026 after slowdown this year The Angolan government has proposed a 2026 budget of 33 trillion kwanzas ($36.05 billion), a 4.7% decline from the previous year’s 34.63 trillion kwanzas, following a cabinet meeting on October...

New UN report projects 10% drop in emissions by 2035 if pledges are met Current efforts still fall short of Paris Agreement’s 1.5°C and 2°C targets Findings come two weeks before COP30 summit in Belém, Brazil Global greenhouse gas emissions could decline by about 10% by 2035 if countries fully implement their current climate plans, according to the latest report from the United...

Profit down 23.3% in H1 2025 due to higher loan-loss provisions Non-bank subsidiaries post strong double- and triple-digit gains Group revenue up 13.8%, led by credit and digital services growth Access Holdings, the Nigerian financial group, reported a decline in profit for the first half of 2025 despite solid operational performance and strong growth from its non-banking...

SA FinTech credit surged 38% to $2.9B (R55B), challenging banks' core market and projected to hit $17.7B (R337B) revenue by 2030. Foreign funds, holding most SA bank capital, face new risk: not credit default, but margin erosion as FinTechs capture growth in digital services Banks remain robust (19.5% ROE), but valuation contraction shows the market demands innovation to protect...

Ghana’s Tema Oil Refinery (TOR) is preparing to resume operations in October 2025 after a four-year suspension. The Centre for Environmental Management and Sustainable Energy (CEMSE) proposes a “tolling model” where TOR refines crude owned by private partners for fixed fees. TOR’s debt reached $517 million by mid-2025, with liabilities exceeding assets by about $435 million,...

A third party is willing to assume Zambia’s $45 million debt to Afreximbank, potentially unlocking the country’s five-year debt restructuring impasse. The dispute centers on Afreximbank’s claim to privileged creditor status, which could exempt it from debt relief under Paris Club rules. A resolution could set a precedent for African multilateral banks and reshape sovereign debt...

Somalia’s livestock exports could reach a record $1 billion by end-2025, marking an eighth consecutive year of growth. The country has tripled its livestock export revenues since 2018, supported by strong Middle Eastern demand. EU and World Bank-funded programs are modernizing production and improving water and pastoral infrastructure. Somalia expects its livestock exports to...

Nigeria's economy expanded by 3.9% in the first half of 2025. This growth was driven by improvements in the oil sector combined with resilient non-oil activity. Cautious optimism is supported by recent currency stability and signs that high inflation may be easing. Nigeria's economy, Africa's largest by population, is exhibiting renewed dynamism. Real GDP growth accelerated to 3.9% in the...

New partnership launched at MWC Kigali: Airtel Africa Foundation, ITU, RISA, and Cisco joined forces to boost digital skills in Rwanda. Airtel Rwanda will provide free routers, Wi-Fi, and data to Digital Transformation Centres in underserved areas. The initiative builds on ITU’s success in Ghana and complements Airtel’s 'Tech For Her' program in other African countries. Airtel...

Morocco has raised its greenhouse gas (GHG) reduction target to 53% by 2035, up from 45.5% by 2030. The new climate plan includes 21.6% unconditional cuts and 31.4% conditional reductions dependent on international financing and technology. The country plans to triple renewable capacity to over 15 GW by 2030 and phase out coal by 2040. Morocco has unveiled a higher climate target,...