UKUMBI MARKETS INTELLIGENCE
Reporting on capital, currencies, companies and the policy decisions moving African markets.
01 / Market-moving stories
Latest market journalism from across the continent.
↗Kenya’s economy expanded by 5.1% year-on-year in the second quarter of 2026, accelerating from the 4.9% growth recorded in the same period last year, according to data released by the country’s statistics office on Friday.
↗Johannesburg— South Africa's rand strengthened slightly against the US dollar on Friday as a weaker greenback supported the currency, while investors turned their attention to next week’s medium-term budget policy statement for signals on the country’s fiscal outlook and credit-rating prospects.
↗South Africa's environment minister has dismissed appeals by conservationists seeking to block offshore oil and gas exploration in TotalEnergies-operated Block 3B/4B off the country's West Coast, clearing a regulatory hurdle for a project that has faced sustained opposition from environmental groups.
↗Brussels — Belgian police have searched the homes of several relatives and associates of Democratic Republic of Congo President Felix Tshisekedi as part of a money-laundering investigation linked to mining revenues, according to lawyers representing organisations that filed a complaint.
↗Angola plans to accelerate the awarding of oil and gas exploration concessions from 2027 as part of a new 25-year hydrocarbon strategy aimed at attracting investment, expanding exploration and increasing production.
↗Egypt has tightened quality requirements for imported wheat, potentially narrowing its sourcing options as disruptions to Black Sea grain exports constrain supplies and raise concerns about availability.
↗Sub-Saharan Africa’s economy is demonstrating greater resilience than previously expected, but rising inflation, mounting debt-servicing costs and declining foreign aid are threatening to undermine the region’s economic progress, the International Monetary Fund (IMF) has warned.
↗Ethiopia has launched a $50 million precious metals refinery. Addis Ababa hopes this will allow it to capture a larger share of the value generated between gold mining and its sale on global markets. However, for the investment to be profitable, Ethiopia must do more - ensure the plant has a sufficient supply of raw materials and attract customers.
