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IFC-Backed Ventures Platform Raises $84 Million for African Startups

Ventures Platform, backed by the World Bank Group’s International Finance Corp. (IFC), raised $84 million to expand its financing for startups across the continent. The...

Kenya Airways Seeks Equity Injection After H1 Pre-Tax Loss Reaches $123 Million

State-owned carrier Kenya Airways PLC (KQ) reported a widening pre-tax loss of KSh 15.92 billion (~$123.08 million) for the first half of 2026, up...

MTN Group Seeks Banking Licenses to Expand Direct Balance-Sheet Lending

MTN Group Ltd. CEO Ralph Mupita confirmed that Africa's largest telecommunications operator is actively exploring banking licenses in select African markets to transform its...

BUA Foods Beats Peer Rivals in Inventory Efficiency

BUA Foods Plc has effectively managed its inventory more than peer rivals in the consumer goods space as the company continues to consolidate on...

Iranian Rial Plunges Past 2 Million Per Dollar Threshold as Economic Pressure Mounts

Iran's currency, the rial, crossed a historical psychological barrier, falling past 2 million rials per U.S. dollar in open-market trading. The record drop marks a...

Dangote Refinery Drives Sevenfold Surge in Nigerian Seaborne Petroleum Exports – US EIA

A report released by the United States Energy Information Administration (EIA) highlights the Dangote Petroleum Refinery as the core catalyst behind a sevenfold expansion...

Dangote Refinery Flips Nigeria’s Fuel Trade As Exports Surge 7-fold And Imports Fall Below 130,000 BPD

Nigeria’s fuel trade has undergone a dramatic reversal since the arrival of the Dangote refinery, with petroleum product exports surging more than seven-fold while...

NNPC, Shell, 2 Others Seal Deepwater Bonga Deal, Target $21bn Investment

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the OML 118 Contractor Parties have executed the Addendum to the OML 118 Production Sharing...

CardinalStone Downgrades Presco to HOLD Following Near-Term Earnings Squeeze

CardinalStone research analysts have revised their 12-month Target Price (TP) for Presco Plc (NGX: PRESCO) to ₦2,140.25, downgrading their investment rating from BUY to...

US Treasury Secretary Bessent Unveils Plan to Sever Iran Access to Global Economy

Treasury Secretary Scott Bessent announced what he called an “unprecedented” US campaign to sever Iran from the global economy, warning that any state doing business with...

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