Business - Page 2 of 141

Business

Senegal debt crisis: Sonko warns G20 plan could worsen situation

Dakar Rally returns to Africa in 2027 as Morocco replaces Saudi Arabia

Tanzania discovers 223 billion cubic feet of natural gas after decade-long gap

Zimbabwe’s platinum boom leaves mining communities struggling

Senegal budget dispute threatens $2.2 billion IMF deal

Top 10 African countries with the strongest currencies in September 2026

Tunisia leads the strongest currencies in Africa by nominal value against the US dollar in September 2026, followed by Libya and Morocco

Royal Air Maroc reaches 70 aircraft as Morocco targets 200-plane fleet

Royal Air Maroc’s fleet has reached 70 aircraft as Morocco pursues plans to expand the airline to 200 planes and increase airport capacity by 2030

Dangote launches construction of $16bn Kenya oil refinery

Nigerian industrialist Aliko Dangote and Kenyan President William Ruto have launched construction of a $16 billion Kenya oil refinery in Lamu. The facility is designed to process 700,000 barrels of crude oil per day and is scheduled for completion by 2030. Business Insider Africa reported that the project is intended to serve growing petroleum demand across East Africa while reducing the region’s dependence on imported fuel. Regional governments have also been offered a combined 30% equity stake in the project. Construction begins on $16bn Kenya oil refinery President Ruto announced the start of construction on Wednesday as work formally began on the Lamu project. The refinery is expected to become a major part of East Africa’s energy infrastructure. Dangote has said the broader aim is to increase Africa’s ability to meet its own energy needs. “What we are trying to do is to make sure that we become self-sufficient in whatever we consume,” Dangote said, according to Reuters. The Lamu facility is expected to process up to 700,000 barrels of crude oil each day once completed. Project expected to create thousands of jobs The project is also expected to support employment and related industries in Kenya. President Ruto said the development could create about 60,000 jobs. Kenyan officials expect the refinery to support industries including bitumen and petrochemicals. The facility could also process crude oil from other countries in the region as East African producers develop their energy industries. Uganda, for example, is advancing plans to produce its own crude oil. East African governments offered refinery stake Regional governments have been offered a combined 30% equity stake in the refinery, Business Insider Africa reported. The proposal could give neighbouring countries a direct financial interest in the project. Dangote has previously highlighted Africa’s heavy dependence on imported petroleum products. During a press briefing in Nairobi, he said most African countries continue to import petroleum products despite the continent’s energy resources. The new Kenya oil refinery is intended to help meet regional demand and reduce spending on imported fuel. Lamu project faces land and environmental concerns The start of construction comes despite an ongoing dispute over part of the proposed refinery site. Local residents have raised concerns over land ownership, while conservation groups have warned about possible environmental effects around Lamu. Lamu Old Town is a UNESCO World Heritage site, and the surrounding area contains sensitive marine ecosystems. Following a petition by residents, a Kenyan court ordered the status quo to be maintained on disputed land pending a hearing. The order could affect some site activity, although Dangote has said it will not stop the wider project from moving forward. Reuters reported that Dangote attributed opposition to the project partly to traders and businesses whose commercial interests could be affected by the refinery. The land claims and environmental concerns remain contested as construction of the wider project begins. Refinery targets completion by 2030 The refinery is scheduled to be completed by 2030. If completed as planned, the 700,000-barrel-per-day facility would significantly increase refining capacity in East Africa. The project forms part of Dangote’s broader expansion beyond Nigeria, where his company already operates a major oil refinery. Construction in Lamu will now proceed as the company works toward the 2030 completion target while legal and environmental issues surrounding the project continue to be addressed.

Botswana withdraws from 2028 AFCON hosting bid amid spending pressures

Botswana has withdrawn from its 2028 AFCON hosting bid with South Africa and Zimbabwe as diamond revenues fall and spending pressures persist

Dangote says Kenya refinery launch will proceed despite land dispute

Dangote says its $16 billion Kenya refinery launch will proceed despite a court order over disputed land in Lamu that could affect site work

Dangote Kenya refinery advances as machinery arrives

The Dangote Kenya refinery project is advancing after 2,930 tonnes of machinery arrived at Lamu Port ahead of its planned groundbreaking

Zambia to reopen key fuel pipeline to multiple suppliers in January

Zambia plans to reopen its main fuel pipeline to multiple suppliers in January, ending the current exclusive access arrangement

South Africa seeks private partner for $2.7bn manganese export corridor

South Africa’s Transnet is seeking a private partner for a $2.7 billion manganese corridor linking Northern Cape mines with the Port of Ngqura

South Africa fertiliser waste could supply rare earths to Europe

A South Africa rare earth project plans to recover valuable magnet minerals from 35 million tonnes of historic fertiliser waste at Phalaborwa

Dangote, Ethiopia and Djibouti agree $660m fuel pipeline project

The Ethiopia Djibouti fuel pipeline project will cost $660 million and aims to cut fuel transport times while expanding storage capacity

Germany eases permanent residency path for foreign graduates

Germany permanent residency rules allow eligible foreign graduates to apply after two years of skilled employment if they meet key requirements

Nigeria launches $300 million fund to expand clean energy access

Nigeria has launched a $300 million clean energy fund to finance off-grid renewable power projects and expand electricity access across Africa

Côte d’Ivoire expands gold production in push beyond cocoa

Côte d’Ivoire gold production has risen sharply as the world’s largest cocoa producer expands mining and seeks to diversify its economy

Saudi Arabia exits mBridge as Africa expands yuan payments

Africa yuan payments are expanding through China’s CIPS network as Saudi Arabia completes its planned participation in the mBridge project

Top 10 airlines in Africa in 2026, according to Skytrax

Discover the 10 best airlines in Africa in 2026 according to Skytrax, with Ethiopian Airlines taking the top position on the continent

Sadio Mané invests $20.4m in Senegal mango project

Sadio Mané is investing $20.4 million in a major mango project in Senegal. The Senegalese football star is launching the project in his hometown of Bambali. Known as SM10 AGRO, the project will grow and process mangoes. It also plans to create around 1,000 jobs. Major mango project in Senegal Mané is investing 11.7 billion CFA francs, or about $20.4 million, in the project. According to Business Insider Africa, the plans include a 500-hectare mango plantation. The project will also include processing facilities and an agricultural college. In addition, around 78,000 mango trees are planned. The first harvest is expected within three years. Processing mangoes locally Fresh mangoes can be difficult to store for long periods. Therefore, processing the fruit can help extend its shelf life. SM10 AGRO plans to produce mango pulp, dried fruit and mango butter. The facility is expected to process about 8,500 tonnes of mangoes each year. The products could then reach markets in Senegal and other parts of Africa. European and Middle Eastern markets are also planned. Creating more value in Senegal Senegal already produces and exports mangoes. However, only a small share of the country’s mangoes are processed locally, according to Business Insider Africa. SM10 AGRO aims to increase local processing. As a result, more mangoes could become finished products before leaving Senegal. The project could also support jobs in farming, processing and distribution. Mané continues investing in Bambali The mango project is not Mané’s first investment in his hometown. He has previously funded a school and hospital in Bambali. He has also supported other services for local residents. Now, his latest project is focusing on agriculture. Through SM10 AGRO, Mané is investing in mango farming, food processing and local jobs in Senegal.