Frontier Africa Reports

Commodities Newsnow Nov 2: OPEC+ has maintained its oil production targets for December, postponing a decision on its 2027 output quotas until November 29. Meanwhile, Cabo Verde has reduced petrol prices by 4% to €1.72 per litre, while diesel prices have fallen by 2.4%. In mining, Guinea has opened its first gold refinery as a ban on raw gold exports takes effect, marking a push towards local processing. Meanwhile, oil prices fell nearly 4% as talks between Iran and Qatar raised hopes of easing supply disruptions. In energy, Ghana and Russia have agreed to develop a 2,000-megawatt nuclear power plant. And Afreximbank and the African Petroleum Producers’ Organisation, APPO, have formally established the US$5 billion Africa Energy Bank to support investment in the continent’s energy sector. It's another week of bringing you the latest energy and commodity market developments. To catch up on today's Commodities NewsNow, watch the full update on our YouTube channel. youtu.be/CslcdBQZ0IM @TheOPECFund @OPECSecretariat @OPECnews @afreximbank @AppoSecretariat

Nov 2: Family Bank Joins NSE Banking Index, MTN Nigeria Profit Roars 55.3% to NGN1.17tn The Nairobi Securities Exchange has added Family Bank to its Banking Index, bringing the total number of constituent banks to 12. The exchange has also adopted a total return methodology for its Bond Index, capturing both price movements and accrued interest. Both changes take effect on November 2, 2026, as the exchange seeks to strengthen market benchmarks and attract more investment into Kenya’s capital markets. Meanwhile, MTN Nigeria has reported a 55.3% rise in nine month profit after tax to 1.17 trillion naira, supported by strong data revenue growth and lower financing costs. Third quarter profit increased 36.5% to 457.63 billion naira, while data revenue grew 31.4%, with active data users reaching 57.2 million. The telecoms operator also recorded an improvement in its EBITDA margin to 58.7%, reflecting stronger operational efficiency. It's another week where we bring you the latest Money Moves and market updates from across Africa and beyond. Stay informed and catch up on today's stories by watching the full show on our YouTube channel. youtube.com/live/zXTsoUpAC5U @StanbicIBTC @cenbank @officialNESG @wef @Treasury_RSA @Oando_PLC @AdewaleTinubu @ngxgrp @MTNGhana @MTNGroup @gstockexchange @thebankofghana @FMDQGroup @Absa @nberpubs @SAReserveBank @FATFNews @LikundeR @MoroccanGov @AgnesGitau @BBoason @GraceOghenekaro @arnomerc @GBSAfrica

Nov 2: The Democratic Republic of the Congo has exited the Financial Action Task Force’s (FATF) grey list after completing all 23 actions outlined in its reform plan to address strategic deficiencies in its anti-money laundering and counter-terrorist financing framework. The removal marks a significant step in the country’s efforts to strengthen financial oversight, improve regulatory compliance and restore confidence in its financial system, potentially easing barriers to international financial transactions and investment. Welcome to a new week and a new month. Stay in tune with Frontier Africa Reports for all the headlines that move money and the markets across the continent and around the world. Visit our website and subscribe to our YouTube. It’s FREE. youtu.be/RwinZP3ZDEg @StanbicIBTC @cenbank @officialNESG @wef @Treasury_RSA @Oando_PLC @AdewaleTinubu @ngxgrp @MTNGhana @MTNGroup @gstockexchange @thebankofghana @FMDQGroup @Absa @nberpubs @SAReserveBank @FATFNews @LikundeR @MoroccanGov @AgnesGitau @BBoason @GraceOghenekaro @arnomerc @GBSAfrica

Oct 31: African Export-Import Bank (Afreximbank) and the African Petroleum Producers' Organisation (APPO) have formally announced the establishment of the Africa Energy Bank (AEB). The announcement was made during the AEB’s inaugural general meeting held in Abuja, Nigeria, on 31 October 2026.   The creation of the Africa Energy Bank reaffirms African governments’ determination to secure their own energy future. This move is in recognition that significant investments in energy generation and transmission was required to accelerating industrial growth and to leveraging the tremendous opportunities from the emerging technologies, particularly artificial intelligence (AI).   The Bank is being established at a time when the continent’s energy investment needs are estimated at US$200 billion. Traditional providers of short- and long-term financing to Africa’s energy sector are withdrawing funding from fossil fuels, even as oil and gas remain vital to the continent’s energy systems. The Africa Energy Bank aims to bridge this financing gap while supporting a just energy transition for African countries.   With an authorised capital of US$5 billion, the AEB will support projects across the energy value chain, including exploration and production, transportation, processing, refining, and distribution. These investments are intended to strengthen productive capacity, reduce reliance on imported petroleum products, and promote intra-African trade in energy goods. The Bank’s mandate also includes promoting robust African participation in the continent’s energy sector to ensure that Africa’s energy future is shaped by Africans. @nj_ayuk @energy_african @Real_AEW @nnpclimited @NUPRCofficial @OPECSecretariat @AppoSecretariat @afreximbank @AlikoDangote @DangoteGroup @DangoteCement @DangoteAfricaa @sonangoloficial @EnergyCapPower @NMDPRA_Official @NOC_Libya @_sanpc @MwangoCapital @GazpromEN @RMBCIB @KPMG @SPGlobal @Bloomberg @BloombergNEF @ZimbabweReview @TTsheole_ @honeywell @BBoason

Commodities Newsnow Oct 30: Cameroon’s state owned refinery, SONARA, has signed an agreement with Dangote and MRS for the supply of refined petroleum products. Meanwhile, copper prices fell as a technology stock sell off and rising oil prices raised concerns over global economic growth. In energy, London and Nigerian Exchange listed Seplat Energy has repaid the final US$100 million debt linked to its ExxonMobil asset acquisition. Meanwhile, ExxonMobil has increased its stake in Mozambique’s Rovuma LNG project by 12.5 percentage points to 50%. In renewable energy, the European Bank for Reconstruction and Development, EBRD, has committed US$63 million to a 500-megawatt solar power plant with battery storage in Egypt. And in Nigeria, TotalEnergies plans to sell a 40% stake in the offshore OPL 257 block to SAPETRO. And that wraps up Commodities NewsNow for the week. To catch up on today’s commodities stories, watch the full update on our YouTube channel. TGIF, and have a great weekend! youtu.be/_DLF_-ZvgAQ @DangoteGroup @AlikoDangote @MRSOilNigeria @ngxgrp @LSEplc @exxonmobil @TotalEnergies @SeplatEnergy @EBRD

Oct 30: NSE-Listed Portland Cement Posts Ksh 1.58bn Loss in FY26, Egypt Raises Rate to 20% Kenya’s East African Portland Cement has reported a 69% decline in full-year profit after tax to 1.58 billion Kenyan shillings, despite a 28.1% increase in revenue to 9.07 billion shillings for the year ended June 2026. Cement production and sales volumes rose, but higher energy and restructuring costs pushed the company into an operating loss of 52.4 million shillings. The company will not pay a dividend as it prioritises cash for capacity expansion. Meanwhile, the Central Bank of Egypt has raised its key interest rates by 100 basis points, marking its first increase since March 2024. The deposit rate now stands at 20%, while the lending rate has risen to 21%. The bank cited external economic uncertainty and the need to contain inflation expectations, with the decision coming as a surprise to analysts who had expected rates to remain unchanged. And that brings this week’s Money Moves to a close. To catch up on today’s Money Moves and market updates, watch the full show on our YouTube channel. TGIF, and have a great weekend! youtu.be/1bt5MjUggLc @KNBStats @CBKKenya @cenbank @SECNigeria @ecowas_cedeao @Gouvciofficiel @GouvernementSN @moodysafrica @Moodys @moodysratings @IMFNews @Africa50Infra @ngxgrp @ngxregco @TemiPopoola_ @jchiemeka2 @StanbicBankBW @SBGroup @TheOfficialBSE @SAReserveBank @KganyagoLesetja @BBoason @AgnesGitau @GBSAfrica @arnomerc @GraceOghenekaro

Oct 30: Kenya’s annual inflation rate rose to 7.3% in October 2026, its highest level in more than three years, driven by rising prices of key consumer goods and services. The increase adds to cost-of-living pressures and could influence the Central Bank of Kenya’s monetary policy decisions. Welcome to the end of the week as Frontier Africa Reports brings you all the headlines that track how #MoneyMoves across assets, markets, and regions. Visit our website and subscribe to our YouTube. It’s FREE. youtu.be/Z1bPPKxzsoE @KNBStats @CBKKenya @cenbank @SECNigeria @ecowas_cedeao @Gouvciofficiel @GouvernementSN @moodysafrica @Moodys @moodysratings @IMFNews @Africa50Infra @ngxgrp @ngxregco @TemiPopoola_ @jchiemeka2 @StanbicBankBW @SBGroup @TheOfficialBSE @SAReserveBank @KganyagoLesetja @BBoason @AgnesGitau @GBSAfrica @arnomerc @GraceOghenekaro

Commodities Newsnow Oct 29: A Russian aluminium company is planning a joint venture with Ghana to develop bauxite resources, targeting annual output of five million tonnes. Meanwhile, Shell has reported its highest quarterly profit since 2022, with third quarter earnings reaching US$10.81 billion, as the company increased its share buyback programme to US$5 billion. In energy, Dangote has launched an oil and gas company in Cameroon, covering refining and fuel distribution. Meanwhile, Liberia plans to invest US$30 million in a geological survey and establish its first gold processing plant within two years. In agriculture, StoneX forecasts a global cocoa deficit of 64,000 tonnes for the 2026/27 season. And in renewable energy, Algeria has unveiled plans for a 300-megawatt solar power plant. To catch up on today’s Commodities NewsNow and the latest energy and commodity market developments, watch the full update on our YouTube channel. youtu.be/uT6eYVJvsa4 @Shell @DangoteGroup @AlikoDangote @dango

Oct 29: Dangote Cement 61.5% Profit Beats Street, Laprophan Gets Okay for $230mn Morocco IPO Dangote Cement has reported a 31% rise in nine month profit after tax to 974.8 billion naira, supported by higher cement sales, revenue growth and lower financing costs. Revenue increased 19.6% to 3.77 trillion naira, while profit before tax jumped 41.5% to 1.47 trillion naira. The results come as the Nigerian cement producer prepares for a planned secondary listing on the London Stock Exchange. Meanwhile, Moroccan pharmaceutical company Laprophan has received regulatory approval for an initial public offering on the Casablanca Stock Exchange, targeting 2.22 billion dirhams, or about US$230 million. The offering will combine new and existing shares at 341 dirhams per share, with subscriptions scheduled to run from November 9 to 17, 2026. To catch up on today’s Money Moves and market updates, watch the full show on our YouTube channel. youtube.com/live/rdh8WZXA5WU @minfi_cameroun @StatsSA @DatatecGroup @JSE_Group @TzEquityBank @EquityGroupPLC @Absa @AbsaKenya @DIFC @laprophan @AMMC_News @BoursedeCasa @ZSE_ZW @MthuliNcube @BankDashen @EIB @EU_Commission @CMAEthiopia @BBoason @AgnesGitau @GBSAfrica @arnomerc @GraceOghenekaro @AlikoDangote @DangoteGroup @DangoteCement @DangoteAfricaa @CyrilRamaphosa @GovernmentZA @SAReserveBank @KganyagoLesetja @Treasury_RSA @James_I_Mwangi @NBEthiopia @MwangoCapital @DurbanChamber

Oct 29: South Africa’s economy is now estimated to be 5% larger following a GDP rebasing exercise, with nominal output revised to about $457 billion, or R8.04 trillion. The latest revision strengthens the country’s position as sub-Saharan Africa’s largest economy, ahead of Nigeria, and reflects updated economic data and changes in the structure of production. Don't miss other carefully curated continental business, markets, investment and finance headlines, brought to you by Frontier Africa Reports that tracks how #MoneyMoves across assets, markets, and regions. Visit our website and subscribe to our YouTube. It’s FREE. youtu.be/wTalXiMtTPw @minfi_cameroun @StatsSA @DatatecGroup @JSE_Group @TzEquityBank @EquityGroupPLC @Absa @AbsaKenya @DIFC @laprophan @AMMC_News @BoursedeCasa @ZSE_ZW @MthuliNcube @BankDashen @EIB @EU_Commission @CMAEthiopia @BBoason @AgnesGitau @GBSAfrica @arnomerc @GraceOghenekaro @AlikoDangote @DangoteGroup @DangoteCement @DangoteAfricaa @CyrilRamaphosa @GovernmentZA @SAReserveBank @KganyagoLesetja @Treasury_RSA @James_I_Mwangi @NBEthiopia @MwangoCapital @DurbanChamber

2026 Africa Sustainable Futures Awards #AfricaSFAwards news.frontierafricareports.c… @WorldBankGroup @WorldBankAfrica @BBoason

Commodities Newsnow Oct 28: Ghana’s Tema Oil Refinery is considering a listing on the Ghana Stock Exchange to raise funds for its recovery. Meanwhile, Oryx Energies is set to sell its downstream businesses in Mali, Côte d’Ivoire and Togo to NDC. In energy, Tanzania has discovered 223 billion cubic feet of natural gas, marking its first major gas discovery in more than a decade. Meanwhile, coffee prices are in focus following a slump in the Brazilian real after President Lula’s re-election. In global energy markets, oil prices rose more than 1% in early Wednesday trading after an attack on a Saudi refinery renewed concerns over supply disruptions. And in Zambia, President Hakainde Hichilema has appointed Brenda Tambatamba as the country’s new Mines Minister. To catch up on today’s Commodities NewsNow and the latest energy and commodity market developments, watch the full update on our YouTube channel. youtu.be/rH57qiQi7PQ @TemaOilrefinery @gstockexchange @OryxEnergies @HHichilema

Oct 28: CRDB Tanzania Posts 46.7% Profit Jump in 3Q, SA Updates on Gas-to-Power Programme Tanzania’s CRDB Bank Group has reported a 46.7% rise in third-quarter profit after tax to 255.2 billion Tanzanian shillings, supported by stronger interest and non-interest income. Net interest income increased 36.6% to 474.5 billion shillings, while total assets grew 34.2% to 27.45 trillion shillings. The bank also recorded a decline in its non-performing loan ratio to 2.27%, although loan impairments more than doubled. Meanwhile, Africa’s energy future is taking centre stage in the ISCA Discussion Series, which examines the continent’s changing energy landscape and strategic priorities. The discussion focuses on energy security, investment opportunities and the challenges of balancing economic development with the transition to cleaner energy sources. To catch up on today’s Money Moves and market updates, watch the full show on our YouTube channel. youtube.com/live/RNkenlEancU @BankofNamibia @AlikoDangote @DangoteGroup @DangoteAfricaa @kenyapipeline @NSE_PLC @OlympiaHoldings @zimstat @afreximbank @OryxEnergiesGL @GeorgeElombi @BPRbankrw @OryxEnergies @Oryx_EnergiesUG @Peshmutesi @gtbank @GTBankGhana @GTBankRW @gtbankke @GTBankLiberia @gtbankgambia @gtbankug @gtbankci @ngxgrp @cenbank @BBoason @GBSAfrica @AgnesGitau @GraceOghenekaro @arnomerc

Oct 28: Guaranty Trust Holding Company (GTCO), one of Nigeria's listed and largest financial services provider, has reported a 12.2% decline in the first nine months of 2026. In a report filed with the NGX this week, GTCO says its net profit dipped to NGN615.57 billion, despite a 5% increase in headline interest income. The earnings reflect pressure on earnings amid higher interest, operating and tax expenses, alongside weaker non-interest income, during the reporting period of January to September this year. There's a lot more to learn and use from today's curated headlines as Frontier Africa Reports brings you all the headlines that track how #MoneyMoves across the continent and around the world. Visit our website and subscribe to our YouTube. It’s FREE. youtu.be/1qG7SvrZ8EI @BankofNamibia @AlikoDangote @DangoteGroup @DangoteAfricaa @kenyapipeline @NSE_PLC @OlympiaHoldings @zimstat @afreximbank @OryxEnergiesGL @GeorgeElombi @BPRbankrw @OryxEnergies @Oryx_EnergiesUG @Peshmutesi @gtbank @GTBankGhana @GTBankRW @gtbankke @GTBankLiberia @gtbankgambia @gtbankug @gtbankci @ngxgrp @cenbank @BBoason @GBSAfrica @AgnesGitau @GraceOghenekaro @arnomerc

Commodities Newsnow Oct 27: Algeria has invited Azerbaijani oil companies to bid for seven exploration blocks, as the country seeks to attract investment into its energy sector. Meanwhile, TotalEnergies has agreed to sell a 10% stake in Nigeria’s Renaissance joint venture to Vaaris Energy for US$800 million. In mining, Compass Gold has signed a memorandum of understanding for a proposed gold processing plant in Mali, with a capacity of 1,000 tonnes per day. Meanwhile, Canadian-listed Waraba Gold plans to acquire an 80% stake in a mining licence in Côte d’Ivoire for US$3.3 million. In global markets, iron ore prices have fallen to their lowest level in more than two years amid weak demand expectations and rising supply. And in the downstream energy sector, Gulfcam CEO Albert Roger Boum has resigned ahead of taking up a role with Puma Energy in Congo. To catch up on today’s Commodities NewsNow and the latest energy and commodity market developments, watch the full update on our YouTube channel. @TotalEnergies @AlgPresidency youtu.be/O2fOmq-8oUI

Oct 27: Morocco Leads RMB's Where to Invest in Africa, Libya Lifts 11-Yrs Aviation Restriction Rand Merchant Bank has launched its Where to Invest in Africa 2026/27 report, highlighting investment opportunities in African economies strengthening reforms, institutions and economic resilience. The report introduces a resilience and vulnerability framework, alongside traditional country rankings, to help investors identify markets better positioned to withstand economic challenges. Meanwhile, Libya has seen international aviation restrictions lifted after 11 years, potentially opening its airspace to more airlines and boosting government revenue. According to the Transport Ministry, registered monthly transit permits have surged to 61,968 for the November 2026 to March 2027 winter season, compared with an average of 2,000 monthly transit flights last winter. However, the permits do not represent confirmed flights or guaranteed revenue. To catch up on today’s Money Moves and market updates, watch the full show on our YouTube channel. youtube.com/live/MEhsb2m_Br4 @NBEthiopia @TheOPECFund @OPECSecretariat @OPECnews @UnitedCap @ashade_peter @UAEmediaoffice @NBMplc @MalawiStock @SafaricomPLC @CBKKenya @Safaricom_Care @ESXEthiopia @yankubamcie @BBoason @AgnesGitau @GBSAfrica @GraceOghenekaro

Oct 27: United Capital Plc reported a 50.4% increase in nine-month revenue to NGN62.47 billion for the period ended September 30, 2026, from NGN41.54 billion a year earlier. Net income rose 64.5% to NGN34.83 billion, while basic and diluted earnings per share increased to NGN2.58 from NGN1.57. There's a lot more to learn and use from today's curated headlines as Frontier Africa Reports brings you all the headlines that track how #MoneyMoves across the continent and around the world. Visit our website and subscribe to our YouTube. It’s FREE. youtu.be/dAB78DYTKcc @NBEthiopia @TheOPECFund @OPECSecretariat @OPECnews @UnitedCap @ashade_peter @UAEmediaoffice @NBMplc @MalawiStock @SafaricomPLC @CBKKenya @Safaricom_Care @ESXEthiopia @yankubamcie @BBoason @AgnesGitau @GBSAfrica @GraceOghenekaro

Commodities Newsnow Oct 26: Zambia has launched a gold refinery aimed at boosting local processing and retaining more value from its mineral resources. Meanwhile, Egypt and the World Bank have launched a national charter to support the development of the country’s mining sector. In energy, Italy’s Eni has completed the sale of its Nigerian subsidiary, AENR, to local firm Apex. Meanwhile, Oryx Energies is set to sell its downstream oil business in Tanzania to Amsons Group. In global markets, oil prices fell in early Monday trading amid hopes of easing tensions between the United States and Iran. And in Egypt, the government has commissioned a seismic survey covering 1,035 square kilometres in the Gulf of Suez, as part of efforts to support oil and gas exploration. To catch up on today’s Commodities NewsNow and the latest energy and commodity market developments, watch the full update on our YouTube channel. youtu.be/O_G0gJKmU-A @WorldBankGroup @WorldBankAfrica @eni @oryxenergiesUG @OryxEnergiesGL @OryxEnergies @amsonsgroup

Oct 26: Airtel Money HY1 Rev. Tops $830mn, Afreximbank Posts 24% Net Income Growth in 9-Mths Airtel Money has reported revenue of US$830 million for the six months to September 2026, up 25.1% in constant currency, in its first financial results since listing on the London Stock Exchange. Profit after tax rose to US$228 million from US$188 million, while its customer base grew 18.7% to 56.7 million. The company also declared an interim dividend of 6.4 US cents per share, reaffirming its full year outlook. Meanwhile, Afreximbank has reported a 24% increase in nine-month net income to US$813.5 million, supported by stronger lending and higher interest income. Gross income rose 11% to US$2.7 billion, while net loans and advances increased 8% to US$36.2 billion. Total assets and contingencies also climbed to US$54.1 billion, although the bank recorded a slight increase in non-performing loans. To catch up on today’s Money Moves and market updates, watch the full show on our YouTube channel. youtube.com/live/1Y-80X1YcEg @afreximbank @AirtelMoney_Rw @airtelmoneyug @moneyairtel_rdc @airtelmoney_ne @airtelafrica @AirtelNigeria @AIRTEL_KE @Airtel_Ug @airtel_tanzania @bhartinews @LSEplc @FMDQGroup @BOU_Official @mofpedU @FATFNews @GovernmentZA @economics_ma @moodysafrica @Moodys @moodysratings @BBoason @arnomerc @GBSAfrica @GraceOghenekaro @FEDA_Finance @GeorgeElombi @AfCFTA @afcfta2 @iatf2027 @PresidencyZA