AGP Executive Report
Last update: 2 hours agoDangote Refinery: Nine-month revenue reached $22.5 billion and net profit $4.7 billion, a sharp turnaround from last year’s loss. Its $1.6 billion IPO has been extended to October 27 as the company seeks more African investors. Currency Pressure: Ghana’s cedi has fallen more than 11% against the dollar this year as seasonal import demand and energy costs weigh on foreign-exchange supply. Digital Finance: Absa and Thunes are deepening their pan-African payments alliance, while Standard Bank is preparing to invest up to $200 million in Nigerian fintech OPay ahead of its planned US listing. Ecobank is also expanding yuan settlement links with China. Banking Oversight: Nigeria’s central bank is tightening controls on insider lending, while the IMF has urged stronger risk management after the country’s bank recapitalisation. Capital and Investment: The African Union has launched its own credit-rating agency, aiming to challenge borrowing costs and ratings it considers unfair. Tanzania says it is close to finalising a $42 billion LNG deal, alongside agreements for critical-minerals projects.
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