Iran Reopens the Strait of Hormuz
Iran has reopened the Strait of Hormuz to all commercial vessels, ending a seven-week disruption that has upended economies and societies across the globe, the country's foreign minister said on Friday.
Middle East Conflict Could Cut Africa's Economic Growth by 0.2% in 2026- Report
The crisis in the Middle East will shave Africa's projected economic growth by at least 0.2% this year, a joint policy paper by continental and global institutions shows.Global Trade Weathers Tariff Storm as MEA Emerges as Strategic Hub, Citi Report
Citi's 2026 Supply Chain Financing report finds global trade resilient despite US tariffs reaching 16.8%. MEA recorded a 52% rise in shipments from North and East Asia, while China's exports to the region grew 61%. AI adoption in trade finance rose 18 percentage points to 36% of large corporates. Citi also piloted bill of exchange tokenization with PwC and Solana, compressing settlement from days to minutes.
Saudi Arabia Fears Yemeni Houthis Might Blockade Crucial Red Sea Strait
The blockade of the Strait of Hormuz by the U.S Navy has escalated fears of retaliation by Iranian-backed Yemeni Houthis across a narrow strait in the Red Sea called the Bab al-Mandeb
Dangote Refinery Plans First Pan-African IPO in History
Aliko Dangote plans to list Dangote Petroleum Refinery and Petrochemicals FZE on multiple African stock exchanges in a continent-first cross-border IPO targeting a raise of up to US$5 billion. Analysts value the refinery at between US$40 billion and US$50 billion, with 5-10% of equity on offer. The primary listing targets the Nigerian Exchange Group main board in June-July 2026. The Nairobi Securities Exchange is among six bourses involved. Stanbic IBTC Capital, Vetiva Advisory Services, and FirstCap have been appointed as financial advisers.Africa Tech Summit London Returns to London Stock Exchange on May 29 for its Landmark 10th Edition
Sasini Exits Avocado Processing After Houthi Disruptions Cut Shipments by 69%
Sasini PLC has invited sealed tenders for the sale of its avocado processing and packing plant at Sameer Industrial Park, Nairobi, through subsidiary Sasini Avocado EPZ Limited. The move follows two years of losses in the fruit segment after Houthi attacks on Red Sea shipping reduced container shipments from 71 in FY2024 to just 22 in FY2025. The plant, commissioned in 2021, processes up to 8 tonnes per hour. Tenders close 8 May 2026. Sasini is pivoting toward Asian markets as it retreats from direct processing.KESONIA, Lower Rates, and the New Profit Test for Kenya's Banks- Wall Street Africa FY25 Kenya Banking Sector Report
After nearly two years of strong macro tailwinds, banks are now being forced to prove how much of their profitability was structural and how much was simply helped by high interest rates, elevated Treasury bill yields and foreign exchange volatility.
Dangote Outlines Plan to Grow Group Revenue to US$100bn
In its “Vision 2030: Supercharging Dangote Group for Long Term Success”, presented to Afreximbank's board and estimated to require at least $40 billion in new investments,Private Capital Firm Targets US$ 6bn for LAPSSET Buildout
Afri Fund Capital plans to issue debt across multiple markets, with listings on the Nairobi Securities Exchange (NSE) and the London Stock Exchange (LSE) alongside a third exchange in the Middle East or Asia.Afreximbank Commits US$10 billion to Shield African and Caribbean Economies
Afreximbank will avail US$10 billion under its Gulf Crisis Response Programme (GCRP) to insulate African and Caribbean economies, financial institutions and corporates from the impact of the ongoing Gulf crisis.Middle East Conflict Deepens Strain on Kenya’s Economy- Stanbic PMI
The economic shockwaves from the Middle East war are beginning to show up in Kenya’s private sector, with the latest business survey pointing to a demand slowdown colliding with stubborn, locally rooted inflation pressures.
