African Markets | LBNN — Comprehensive Market Intelligence

African Markets · Equities

African Stock Exchanges

Weekly Update

8 Major Exchanges · Key Indices · May 2026 · Reference data — not real-time

NGX

Nigeria · All Share Index

101,240

+1.40% WTD

Mkt Cap

$71.2B

Volume

₦4.8B

YTD

+21.4%

Dangote IPO

Prospectus pending

Africa’s largest consumer market exchange · Dangote IPO expected May offer open

JSE

South Africa · Top 40

70,980

−0.91% WTD

Mkt Cap

$1.04T

Volume

R19.2B

YTD

+8.4%

RMH Delisting

R654.6M

Africa’s largest by market cap · Nedbank–NCBA $856M bid in regulatory review

NSE

Kenya · NSE 20

1,891

+1.20% WTD

Mkt Cap

$10.1B

Volume

KES 4.4B

YTD

+6.2%

KPC IPO

$825M live

Growing East African hub · Kenya Pipeline $825M IPO subscription open

EGX 30

Egypt · EGX 30

27,950

−1.62% WTD

Mkt Cap

$48.6B

Volume

EGP 3.1B

YTD

−3.4%

IMF Programme

On track

MENA gateway · Oil-importer pressure from Middle East energy shock

BRVM

West Africa · UEMOA Composite

224.1

+1.04% WTD

Mkt Cap

$16.8B

YTD

+9.1%

CFA anchor

Stable

8-nation regional exchange · Côte d’Ivoire anchor · Abidjan-Lagos corridor

GSE

Ghana · Composite Index

5,112

+3.10% WTD

Mkt Cap

$6.2B

YTD

+31.2%

Cedi

+40% in 2025

Post-restructuring rebound · Cedi best EM performer 2025

LuSE

Zambia · Lusaka Securities Exchange

6,520

+2.20% WTD

Mkt Cap

$4.8B

YTD

+14.8%

Copper corridor

Active

Copper sector recovery · Post-restructuring lift

ESX

Ethiopia · Securities Exchange

Nascent

IPO pipeline

Listed cos

Ethio Telecom

10% listed

GTI active

AfCFTA pilot

Youngest major exchange · Safaricom Ethiopia listing requirement watch 2026

African Markets · Foreign Exchange

African Currency Dashboard

Live · Refreshes Every 6 Hours

18 Currencies · USD Base · Sources: ExchangeRate-API · CBN · SARB · CBK

NGN (Official)

1,377

per 1 USD · Stable band

ZAR

16.77

per 1 USD

KES

130.40

per 1 USD · CBK active

GHS (Cedi)

11.15

per 1 USD · +40% in 2025

29 currencies weakened

⚠

Middle East shock — AfDB Apr 2026

USD/NGN

Nigeria

1,377

per 1 USD · Official rate

USD/ZAR

South Africa

16.77

per 1 USD

USD/KES

Kenya

130.40

per 1 USD

USD/GHS

Ghana

11.15

per 1 USD

USD/EGP

Egypt

52.61

per 1 USD

USD/ETB

Ethiopia

155.67

per 1 USD · −25% in 2025

USD/TZS

Tanzania

2,578

per 1 USD

USD/MAD

Morocco

9.94

per 1 USD

USD/UGX

Uganda

3,724

per 1 USD

USD/XOF

West Africa (CFA)

614

per 1 USD · BCEAO peg

USD/XAF

Central Africa (CFA)

614

per 1 USD · BEAC peg

USD/AOA

Angola

921

per 1 USD

USD/ZMW

Zambia

26.4

per 1 USD

USD/MZN

Mozambique

63.8

per 1 USD

USD/RWF

Rwanda

1,298

per 1 USD

USD/DZD

Algeria

134.5

per 1 USD

USD/TND

Tunisia

3.08

per 1 USD

USD/SLL

Sierra Leone

24,670

per 1 USD

African Markets · Digital Assets

LBNN Crypto Index

Live · CoinGecko · Auto-refreshes 60s

12 Coins · Global Majors + Africa-Relevant Tokens · Live prices in USD · Africa context for each asset · Not investment advice

Bitcoin (BTC)

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24h change

Ethereum (ETH)

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24h change

Global Mkt Cap

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CoinGecko global

BTC Dominance

~55%

% of total mkt cap

CELO (Africa)

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Africa payments focus

Last refresh

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Auto every 60s

Global Major Assets

High liquidity · Exchange listed · Africa diaspora remittance use

Global Major

BTC

Bitcoin

Fetching…

—Mkt cap: —

Africa: Top P2P trading in Nigeria, Kenya, SA. Naira/BTC spread = informal FX indicator. Binance P2P dominant NGN channel.

Global Major

ETH

Ethereum

Fetching…

—Mkt cap: —

Africa: African DeFi and tokenised infrastructure projects predominantly on Ethereum or EVM chains. PAPSS potential EVM integration.

Global Major

BNB

BNB (Binance)

Fetching…

—Mkt cap: —

Africa: Binance P2P = dominant crypto→local currency mechanism (NGN, KES, GHS, ZAR). Lower BSC gas costs suit African DeFi users.

Global Major

SOL

Solana

Fetching…

—Mkt cap: —

Africa: High-speed, low-fee chain attracting African fintech builders. NFT ecosystem growing in SA and Nigeria. Speed suits mobile-first users.

Global Major

XRP

Ripple XRP

Fetching…

—Mkt cap: —

Africa: Ripple ODL targets African remittance corridors. RippleNet partnerships with Ecobank and other African banks.

Stablecoin

USDT

Tether USD

Fetching…

Pegged USDMkt cap: —

Africa: Most used stablecoin across Africa. Informal dollarisation in high-inflation markets. Chainalysis: Africa is a top global USDT P2P market.

Africa-Relevant Digital Assets

Direct use cases in African payments, remittances, DeFi, financial inclusion

🌍 Africa Focus

CELO

Celo

Fetching…

—Mkt cap: —

Africa: Built for mobile-first payments. Valora wallet in Kenya, Nigeria, SA. cUSD + cKES stablecoins for local-currency remittances. Most Africa-centric L1 in index.

🌍 Remittance Rail

XLM

Stellar Lumens

Fetching…

—Mkt cap: —

Africa: IBM World Wire + Stellar for Africa cross-border payments. Stellar Dev Foundation actively funds African blockchain projects. PAPSS conceptual overlap.

🌍 Institutional

ALGO

Algorand

Fetching…

—Mkt cap: —

Africa: Algorand partnered with African Union for land registry pilots. CBN studied for eNaira. Carbon credit tokenisation for African climate projects.

DeFi · Layer 2

POL

Polygon (ex-MATIC)

Fetching…

—Mkt cap: —

Africa: Primary chain for African NFT projects + DeFi builders. SA NFT artists and African gaming studios on Polygon. Cheaper gas suits micro-transaction markets.

DeFi · Smart Contracts

AVAX

Avalanche

Fetching…

—Mkt cap: —

Africa: Subnets used for African tokenised real estate + infrastructure. Fast finality suits land title and supply chain provenance use cases.

Oracle · DeFi Infrastructure

LINK

Chainlink

Fetching…

—Mkt cap: —

Africa: Chainlink oracles required for DeFi price feeds including African commodities (gold, cocoa, crude). Infrastructure layer for all African tokenised commodity projects on EVM.

Live prices from CoinGecko public API. Auto-refreshes every 60 seconds. 24h change shown. Prices in USD. Not investment advice.

Africa receives $104.6B in remittances annually (AfDB 2026). Crypto corridors — especially USDT P2P and XRP ODL — compete with bank wires on cost and speed.

Nigeria SEC issued crypto licences 2024. South Africa FSCA registered crypto 2023. Regulatory momentum broadly positive across major African markets.

African Markets · Commodities

Africa-Critical Commodities

Live Where Available

18 Key Commodities · Energy · Metals · Agri · Strategic Minerals · Sources: CoinGecko · World Bank · USGS · BMI

Brent Crude

Reference

$76.40

per barrel

Nigeria · Angola · Libya · Algeria — primary revenue source. Below $80 threshold compressing Dangote IPO margin narrative.

Natural Gas

Reference

$2.85

per MMBtu

Mozambique LNG · Tanzania · Nigeria LNG. Middle East disruption creating alternative demand.

Gold

Live · CoinGecko

$3,140

per troy oz

South Africa · Ghana · Mali · Tanzania — top producers. Safe-haven demand elevated amid Middle East conflict.

Platinum

Live · CoinGecko

$971

per troy oz

South Africa produces 70% of global supply. Green hydrogen catalyst demand rising. PGM sector key JSE driver.

Copper

Reference

$9,480

per metric ton

Zambia · DRC — major producers. EV supply chain demand structurally bullish. Kwacha / ZMW correlation strong.

Coltan

Strategic · USGS ref

$105

per kg (tantalum content)

DRC produces 70%+ of global supply. Used in capacitors, smartphones, EVs. AfCFTA corridor investment targeted at coltan value chain.

Lithium

Strategic · BMI ref

$11,800

per metric ton (LCE)

Zimbabwe, DRC, Mali have significant reserves. Price down 60% from 2022 peak — structural bottom forming.

Uranium

Strategic · UxC ref

$82

per lb U₃O₈

Niger · Namibia · South Africa. Nuclear renaissance demand thesis. Niger coup disrupted output — Namibia gained share.

Cocoa

Reference

$8,840

per metric ton

Côte d’Ivoire · Ghana — 60% of world supply. Off peak highs.

Coffee (Robusta)

Reference

$4,320

per metric ton

Uganda · Ethiopia · Côte d’Ivoire — major producers. Supply tight.

Palm Oil

Reference

$1,048

per metric ton

Nigeria · Cameroon · Côte d’Ivoire. Food inflation pass-through across West Africa.

Cotton

Reference

$0.83

per lb

Mali · Burkina Faso · Benin · Egypt. AGOA expiry pressure on Sahel textile exporters.

Wheat

Reference

$5.48

per bushel

Egypt largest African importer. North Africa food security variable.

Iron Ore

Reference

$98

per metric ton (62% Fe)

Guinea (Simandou) · South Africa · Mauritania. Simandou transformative — world’s largest untapped deposit.

Cobalt

Strategic · LME ref

$28,400

per metric ton

DRC produces 70% of global supply. Battery cathode material. Central Corridor SGR targets cobalt export capacity.

Sugar (Raw)

Reference

$0.195

per lb

South Africa · Kenya · Egypt · Ethiopia. AfCFTA GTI pilot commodity.

Aluminium

Reference

$2,390

per metric ton

South Africa (Mozal) · Mozambique. Energy-intensive smelting. Power access critical constraint.

LNG (Spot)

Reference

$12.40

per MMBtu (Asian spot)

Mozambique · Tanzania · Nigeria — LNG exporters benefiting from Middle East disruption premium.

African Markets · Monetary Policy

Central Bank Policy Rates

May 2026

9 Major Central Banks · 6 of 9 cutting in 2026 · Sources: CBN · SARB · CBK · BoG · CBE · BoA · BCEAO · BoZ · BCT

Cutting cycle

6 / 9

Banks easing in 2026

On hold

1 / 9

SARB — currency cautious

Highest rate

28.0%

BoG Ghana — still elevated

Lowest rate

6.75%

SARB — advanced economy profile

Central Bank	Rate	Change	Status	Note
CBN Nigeria	26.5%	▼ −50bps Mar’26	Cutting	First cut cycle. FX reserves $48.65B. March inflation cyclical reversal — not structural.
SARB South Africa	6.75%	— hold	Hold	Inflation 3.2% — cautious on rand vulnerability. Middle East shock constraining easing.
CBK Kenya	8.75%	▼ 10th cut	Cutting	Inflation 4.4% — soft landing confirmed. Easing supporting KPC IPO demand.
BoG Ghana	28.0%	▼ easing	Cutting	Post-debt restructuring. Cedi +40% in 2025 — strongest EM currency globally. IMF ECF $3B on track.
CBE Egypt	27.25%	▼ cut	Cutting	FX stabilising. IMF programme on track. Interest payments = 52% of budget.
BoA Angola	19.5%	▼ easing	Cutting	Inflation 14.56% Jan — disinflation trend. Oando KON-13 Angola Block active.
BCEAO West Africa (UEMOA)	5.5%	— hold	Hold	CFA franc pegged to euro — limited independent monetary policy. Sahel instability risk.
BoZ Zambia	12.5%	▼ −75bps	Cutting	Copper sector recovery driving kwacha strength. Post-restructuring reflation play.
BCT Tunisia	8.0%	— hold	Hold	Chronic fiscal vulnerability. High debt risk. IMF programme negotiations ongoing.

African Markets · Macro Intelligence

Key Indicators

Institutional Sources · May 2026

Sources: AfDB African Economic Outlook 2026 · IMF WEO April 2026 · World Bank · NBS Nigeria · ECA/UN

Africa GDP Growth (AfDB 2026)

4.3%

AfDB African Economic Outlook 2026 · 4.5% in 2027

AfDB AEO 2026

IMF Africa Growth (April 2026 WEO)

4.2%

Downgraded from 4.5% — Middle East war, aid cuts. Sub-Saharan Africa at 4.3%

IMF WEO April 2026

Africa Avg Inflation 2026

10.3%

Moderating from 13.7% in 2025 · SSA median 5% (IMF)

AfDB / IMF Spring 2026

Nigeria Inflation (March 2026)

15.38%

Cyclical reversal (transport +16.9%) — not structural. 11-month disinflation ended

NBS Nigeria · March 2026

Africa Public Debt / GDP

63%

2025 estimate · Interest payments ~15% of revenue

UN WESP 2026 · World Bank

Intra-African Trade

$220B

2025 · +12.4% vs 2024 · Only 15–18% of total trade vs 60%+ in Asia

AfCFTA Secretariat · ECA Jan 2026

Africa Remittances

$104.6B

2025 · Largest external non-debt financing source — surpassing FDI

AfDB AEO 2026

AfCFTA Members

49 / 54

Ratified · 25 trading under AfCFTA preferential rules · 8,561 certificates of origin

AfCFTA Secretariat · Jan 2026

Nigeria FX Reserves

$48.65B

April 2026 · Naira at N1,377/$ — stable

CBN · April 2026

Africa VC / Tech Funding 2025

$4.1B

+25% YoY · Debt record $1.64B · Kenya led with $1.04B

Partech Africa Report · Jan 2026

Africa Installed Power Capacity

~250 GW

Total continent · Only 82 GW renewable (IRENA 2026) · 600M without electricity

IRENA · IEA 2025/2026

African Banking Revenue

$100B+

Crossed $100B for first time in 2025 · Top 5: Nigeria, SA, Kenya, Egypt, Morocco

McKinsey Africa Banking Q1 2026

Africa Bilateral Aid Decline

−16 to −28%

2025 trend continuing 2026 · Creates $30B+ fiscal gap — capital markets must fill

IMF WEO April 2026 · AfDB AEO 2026

African Markets · Fixed Income

African Sovereign Bond Tracker

Reference · Updated Weekly

6 Major Eurobond Issuers · USD-Denominated · Spread vs US Treasury 10Y · Sources: OECD, Bloomberg, Moody’s, S&P, Fitch · April 2026

Data note: Yield and spread figures are reference estimates. Live real-time bond data requires Bloomberg Terminal / Reuters Eikon. Updated weekly. Not investment advice.

Avg SSA Eurobond Yield

9.2%

2026 YTD average

US Treasury 10Y (ref)

4.45%

Benchmark · April 2026

Avg SSA Spread

+475 bps

Above US Treasury

SSA Eurobond Market

$38B+

2025 inflows · Renewed access

Issuer	Yield Est.	Spread	WTD	Rating (S&P/Moody’s)	Outlook	Intelligence
Nigeria2030 · 2032 · 2033 Eurobonds	9.65%	+520 bps	▼ −18 bps	B– / B3	Stable	Oil-exporter buffer. FX reserves $48.65B. Dangote IPO prospectus incoming — positive sentiment tailwind.
Kenya2031 · 2034 Eurobonds · $1.5B 2024	10.25%	+580 bps	▲ +22 bps	B / B2	Negative	Debt-to-GDP 68%. Interest payments ~35% of revenue. Middle East energy shock widening spread.
GhanaPost-restructuring 2027–2037 new bonds	11.80%	+735 bps	▼ −42 bps	CCC+ / Caa1	Improving	G20 restructuring substantially complete. Cedi +40% in 2025. IMF ECF $3B on track.
Egypt2030 · 2032 · 2040 Eurobonds	9.80%	+535 bps	▲ +35 bps	B / B3	Watch	Interest payments 52% of budget. Hormuz shock transmission → spread widening vs Nigeria.
Côte d’Ivoire2032 · 2037 · $2.6B Jan 2024	8.50%	+405 bps	▼ −28 bps	BB– / Ba3	Stable	Tightest spread in tracker. Strong fiscal discipline. West Africa sovereign benchmark.
Angola2029 · 2032 Eurobonds · Oil-backed	9.40%	+495 bps	— flat	B / B2	Stable	Brent at $76.40 below comfort level. Exploring $165M AfDB budget loan. Oando KON-13 active.

Eurobond Yield vs US Treasury 10Y (4.45% ref) · April 2026 estimates

US Treasury 10Y

4.45%

Côte d’Ivoire

8.50%

Nigeria

9.65%

Angola

9.40%

Egypt

9.80%

Kenya

10.25%

Ghana

11.80%

Spreads vs US Treasury 10Y at 4.45%. 1 bps = 0.01%. Yield up = spread widening (negative for issuer). Not investment advice.

African Markets · Trade Intelligence

AfCFTA Trade Corridor Status

Live Intelligence · May 2026

10 Key Corridors · Friction Score (0=frictionless, 100=impassable) · Sources: AfCFTA Secretariat · AfDB · UNCTAD · PAPSS

Ratified Members

49 / 54

Only Eritrea fully outside

Trading Under AfCFTA

Gazetted tariff concessions

Intra-African Trade

$220B

2025 · +12.4% YoY

Trade Share (Intra)

15–18%

vs 60%+ Asia · 70%+ Europe

Certs of Origin

8,561

Issued mid-2025 · Growing

Mombasa – Kampala – Kigali

East Africa · Kenya · Uganda · Rwanda · DRC

Active

~1,650 km

Total

65%

Uganda via KPC

3.2 days

Mombasa dwell

Friction

58/100

PAPSS: Live — Kenya, Uganda, Rwanda. KPC $825M IPO + KES 110B capex plan targets capacity. Dangote refinery exports will route through here.

Lagos – Abidjan Coastal Highway

West Africa · Nigeria · Ghana · Togo · Benin · Côte d’Ivoire

Under Development

1,028 km

Length

$15.6B

Investment interest

2026–2030

Build timeline

Friction

78/100

PAPSS: Pending. AfCFTA Sec-Gen met Abidjan-Lagos Corridor Org Mar 2026 on customs coordination. AfDB funded feasibility.

Johannesburg – Lusaka – Dar es Salaam

Southern–East Africa · SA · Zimbabwe · Zambia · Tanzania

Active

~3,200 km

Total

$12B+

Trade volume

Copper · Gold

Primary cargo

Friction

52/100

PAPSS: Live — SA, Zambia. Copper/critical minerals traffic increasing. Zimbabwe Chirundu border capacity constraint.

Central Corridor SGR (Tanzania–Burundi–DRC)

Central–East Africa · Tanzania · Burundi · DR Congo

Under Development

$696M

AfDB guarantee

$3.9B

Total financing

Standard gauge

Rail type

Friction

82/100

PAPSS: Pending. AfDB $696M guarantee unlocked $3.9B. Critical minerals corridor — coltan, cobalt, lithium from DRC.

Trans-African Highway: Cairo – Cape Town

Pan-African · 9 countries · North to South

Partially Operational

~10,228 km

Total

~62%

Paved

Sudan–Ethiopia

Missing link

Friction

74/100

PAPSS: Pilot — Egypt, Ethiopia, SA active. Sudan conflict severed Sudan–Ethiopia section. Political normalisation required.

Dakar – N’Djamena Trans-Sahel

West–Central Africa · Senegal · Mali · Niger · Chad

Disrupted

~4,500 km

Total

Sahel crisis

Primary constraint

Friction

88/100

PAPSS: Pending — Mali, Niger coups disrupting ECOWAS/AfCFTA integration. Security conditions are the gating factor.

Addis Ababa – Djibouti Rail Corridor

East Africa · Ethiopia · Djibouti

Active

752 km

Rail length

~90%

Ethiopia trade vol

Electric SGR

Type

Friction

48/100

PAPSS: Pilot — Ethiopia onboarding. AfCFTA GTI active. ESX listing pipeline watch.

Maghreb Corridor (Morocco – Egypt)

North Africa · Morocco · Algeria · Tunisia · Libya · Egypt

Partially Operational

~4,800 km

Coastal

Morocco

AfCFTA leader

Libya gap

Critical break

Friction

62/100

PAPSS: Morocco, Egypt live · Algeria, Tunisia pilot. Libya instability creates coastal break.

Luanda – Kinshasa – Brazzaville

Central Africa · Angola · DR Congo · Republic of Congo

Pre-Development

~600 km

Core corridor

Coltan · Cobalt

Primary output

Friction

91/100

PAPSS: Not yet active. Highest-potential / highest-friction corridor in Central Africa. DRC political instability + infrastructure deficit.

Abidjan – Ouagadougou – Niamey

West Africa · Côte d’Ivoire · Burkina Faso · Niger

Disrupted

~1,150 km

Total

Security crisis

Constraint

Friction

94/100

PAPSS: Suspended — Burkina, Niger military governance. Côte d’Ivoire segment operational.

PAPSS

Pan-African Payment and Settlement System: Enables AfCFTA trade in local currencies — reducing USD settlement dependency. As of May 2026, commercial bank onboarding growing across 25+ states. Full PAPSS activation would reduce transaction costs by 30–40% vs current USD-intermediated settlement.

Active — PAPSS live/pilot

Partially Operational

Under Development

Disrupted / Pre-Development

Friction: 0=frictionless · 100=impassable

African Markets · Aviation Intelligence

African Aviation Index

Reference Intelligence · May 2026

9 Major African Carriers · Fleet · Routes · Financial Health · Sources: IATA · CAPA · Airline annual reports · Most carriers state-owned — not publicly traded

Note: Most African carriers are state-owned and not publicly listed. Financial health ratings are editorial assessments based on IATA reports and airline disclosures. Not investment advice.

African Air Passengers

~100M

2025 estimate · IATA

Intra-African Routes

Growing

AfCFTA open skies push

Avg Load Factor

74%

Continental average 2025

Biggest challenge

Fuel costs

Middle East shock · +15% YTD

Ethiopian Airlines

Ethiopia · Addis Ababa hub

Financially Healthy

130+

Fleet size

127+

Destinations

~82%

Load factor

Profitable

Fin. status

Africa’s most profitable carrier. Pan-African hub strategy from Addis Ababa. Dominant on intra-African and intercontinental routes.

Kenya Airways

Kenya · Nairobi hub

Under Restructuring

Fleet size

60+

Destinations

~73%

Load factor

Loss-making

Fin. status

Govt-controlled since 2017 bailout. NSE-listed (KQ). Debt restructuring ongoing. Alliance with KLM and Air France-KLM.

EgyptAir

Egypt · Cairo hub

State-Supported

75+

Fleet size

75+

Destinations

~70%

Load factor

State-backed

Fin. status

Star Alliance member. Cairo gateway between Africa and Middle East/Europe. Hormuz disruption affecting fuel cost significantly.

RwandAir

Rwanda · Kigali hub

Growing Strongly

Fleet size

30+

Destinations

~80%

Load factor

Profitable

Fin. status

Fastest-growing African carrier. Kigali positioned as pan-African hub competing with Addis Ababa. AfCFTA beneficiary. Fleet expansion ongoing.

FlySafair

South Africa · Johannesburg hub

Financially Healthy

Fleet size

Domestic SA

Focus

~88%

Load factor

Profitable

Fin. status

South Africa’s most punctual and cost-efficient LCC. Highest load factor in index. Expansion to regional Southern Africa routes underway.

ASKY Airlines

Togo · Lomé hub · Ethiopian stake

Recovering

Fleet size

Destinations

~72%

Load factor

Recovering

Fin. status

West Africa’s pan-regional carrier. Ethiopian Airlines holds 40% stake. Sahel instability in key markets creating route disruption.

Fastjet

Tanzania · Dar es Salaam hub

Financial Stress

Fleet size

East Africa

Focus

~62%

Load factor

Stressed

Fin. status

LCC model for East Africa. Financial challenges persistent. JSE-listed. Central Corridor SGR could reduce need for short-haul air. Strategic pivot under review.

Air Mauritius

Mauritius · Port Louis hub

Recovering

Fleet size

25+

Destinations

~76%

Load factor

Post-reorg

Fin. status

Post-COVID restructuring. Mauritius as Indian Ocean financial hub benefits from AfCFTA services protocol. Tourism recovery driving improvement.

Air Algérie

Algeria · Algiers hub

State-Supported

50+

Fleet size

60+

Destinations

~68%

Load factor

Oil-backed

Fin. status

North Africa hub. Benefits from Algeria’s hydrocarbon revenue for state support. Trans-Sahel connectivity important despite Sahel instability disruption.

African Markets · Infrastructure Intelligence

Infrastructure Investment Index

Disclosed Pipelines · Updated Weekly

Active + pipeline infrastructure commitments · Sources: AfDB · IFC · World Bank · Africa50 · Dealbase.africa · Disclosed deals only

AfDB Infrastructure 2026

$25B+

Annual commitment pipeline

Central Corridor SGR

$3.9B

Tanzania–Burundi–DRC · AfDB

Abidjan–Lagos Highway

$15.6B

Investment interest · 2026–2030

Afreximbank (Dangote)

$2.5B

Largest single industrial commitment

Dangote Petroleum Refinery — Pan-African IPO + Afreximbank Facility

EnergyNigeriaPan-African

$4B+ total

Active · IPO pending

Afreximbank $2.5B underwrites $4B total. 650,000 bpd capacity. IPO prospectus to SEC April — offer May, listing June/July. Pan-African cross-listing (NGX, JSE, GSE, NSE, ESX, BRVM) under review.

Central Corridor Standard Gauge Railway (Tanzania–Burundi–DRC)

RailEast AfricaCritical Minerals

$3.9B

Financing secured

AfDB $696M partial credit guarantee approved 2024 unlocked $3.9B total. Strategic coltan, cobalt, lithium corridor from DRC to Dar es Salaam port. Construction 2025–2030.

Abidjan–Lagos Transnational Coastal Motorway

RoadWest Africa5 Countries

$15.6B interest

Construction commencing 2026

1,028 km linking Abidjan → Accra → Lomé → Cotonou → Lagos. AfDB funded feasibility. $15.6B investment interest from private/institutional partners. 2026–2030 build timeline.

Kenya Pipeline Company Expansion + Capex Plan

Energy InfrastructureEast AfricaAfCFTA corridor

KES 110B (~$852M)

Active · Funded by IPO

KPC $825M IPO proceeds capitalise infrastructure fund + KES 110B 5-year capex. Mombasa–Kampala–Kigali corridor capacity tripling. Monopoly pipe — AfCFTA critical.

Simandou Iron Ore Mine + Rail (Guinea)

RailPortGuineaCritical minerals

$20B+

Under Construction

World’s largest untapped iron ore deposit. 670 km railway + Matakan deep water port. Chinese investment (SMB-Winning consortium) + Rio Tinto. First ore expected 2025–2026.

Africa Digital Infrastructure — PAPSS + AfCFTA e-Tariff Systems

DigitalPan-AfricanAfCFTA

$712B potential

Active · Rolling out

PAPSS — payment settlement across 25+ African markets in local currencies. AfCFTA e-Tariff Book operational. Full PAPSS cuts transaction costs 30–40%.

South Africa – Mozambique Gas Pipeline + LNG Infrastructure

LNGSouthern Africa

$4.5B+

Pipeline / Planning

Mozambique LNG offshore (Area 1, Area 4 — $20B+ total). South Africa gas expansion. Middle East disruption elevating LNG demand. Oando KON-13 Angola Block signals intra-African energy integration accelerating.

Nigeria Solar Mini-Grid Programme

Solar · Off-gridNigeriaIDA funded

$750M

Active

World Bank IDA funded. Targeting 200,000 new electricity connections via solar mini-grids. Addresses Nigeria’s persistent grid deficit. SolarAfrica and Sun King raising in parallel ecosystem.

African Markets · Venture Intelligence

Africa Startup / VC Index

2025–2026 Deals · Institutional Sources

Notable rounds · Lead investors · Sectors · Sources: Partech Africa 2025 Report (Jan 2026) · Briter Bridges · TechCabal Insights · Disrupt Africa

Africa Tech Funding 2025

$4.1B

+25% YoY · Partech Africa

Record debt financing

$1.64B

+63% YoY · 107 debt deals

Top ecosystem 2025

Kenya

$1.04B raised · +72% YoY

Q1 2026 funding

$575M

58 deals · Jan–Feb 2026

Big 4 share

72%

Kenya · SA · Egypt · Nigeria

Note: Only publicly disclosed rounds included. Values from Partech Africa 2025 Annual Report, Briter Bridges, TechCabal Insights, and company announcements.

SolarAfrica

Clean Energy · C&I Solar · Pan-African

$94M

Round size

Equity

Type

Feb 2026

Date

Largest Q1 2026 energy round. Commercial & industrial solar across Africa. Addresses structural power deficit in Energy Index.

Spiro

Electric Mobility · EV Motorcycles · West Africa

$57M

Round size

Series B

Stage

Feb 2026

Date

Electric motorcycle conversion — two-wheel transport decarbonisation in West Africa. AfCFTA trade corridor logistics play.

GoCab

Ride-hailing · Urban Mobility · East Africa

$45M

Round size

Series A

Stage

Feb 2026

Date

East Africa ride-hailing. Kenya urbanisation and NSE capital market growth creating middle-class mobility demand.

Breadfast

Food Delivery · Agri-tech · Egypt

$50M

Round size

Series B

Stage

Feb 2026

Date

Egypt food delivery platform. IMF programme stabilising EGP — consumer confidence returning.

Terra Industries

Defence Tech · Advanced Manufacturing · Nigeria

$33M+

Round size

Two deals

Structure

Q1 2026

Date

Nigerian defence technology — rare deep tech / defence play. Signals ecosystem maturation beyond fintech/logistics.

d.light

Off-grid Solar · Energy Access · East Africa

$300M

Debt raise

Debt

Type

2025

Date

Record off-grid solar debt facility. Addresses 600M Africans without electricity access. Debt now 41% of all African tech capital.

Sun King

Solar PAYG · Energy Access · Pan-African

$236M

Debt raise

Debt

Type

2025

Date

Pay-as-you-go solar across 10+ African markets. SSA captured only 2.3% of global renewable investment — Sun King addressing structural gap.

Flutterwave

Fintech · Payments · Pan-African

$3B+

Valuation (est)

Series D watch

Stage

Q3 2026

Expected window

Series D discussions at $3B+ valuation ongoing. Dangote IPO halo effect creating positive sentiment for Nigerian tech assets.

Wave

Mobile Money · Francophone Africa

$1.7B

Valuation

Growth stage

Stage

Partech-backed

Lead investor

Mobile money disrupting MTN MoMo and Orange Money in West Africa. PAPSS and AfCFTA digital trade potential upside.

Lovegrass

Agri-tech · Ethiopia

$5M

Round size

Early stage

Stage

Feb 2026

Date

Ethiopian agritech — part of Feb 2026 agri recovery signal. AfCFTA GTI active for Ethiopia agricultural exports to Kenya corridor.

2025: Africa tech funding $4.1B (+25% YoY). Debt record $1.64B (+63%). 107 debt deals (+39%). Source: Partech Africa Report, Jan 2026.

Q1 2026: $575M across 58 deals (Jan–Feb). Logistics/transport led Feb ($119.6M). Energy/water $94M. Fintech $54.1M. Source: TechCabal Insights.

African Markets · Energy Intelligence

African Energy Index

Installed Capacity · IRENA / IEA Reference

18 Major African Markets · Installed Capacity (MW) · Renewable % · Access Rate · Sources: IRENA 2025 · IEA Africa Electricity · AfDB

Africa Total Installed

~250 GW

Continent total · IEA estimate

Renewable Capacity

~82 GW

1.6% of global renewables · IRENA 2026

Without electricity

600M

Sub-Saharan Africa · IEA

2030 target

300 GW

Africa Renewable Energy Initiative

Investment gap

$18B/yr

SSA got $18B vs $90B+ needed

Framing note: This index shows installed capacity (maximum output possible) per country. A low access rate despite high capacity indicates distribution and last-mile infrastructure deficit.

Country

Installed Cap.

Renewable %

Access Rate

Key Source · Context

Status

South Africa

~58,000 MW

~18% renew

~84% access

Coal dominant (Eskom). Solar/wind growing fast post-Eskom crisis. IRP 2023 targets 80GW renewables by 2032.

Transitioning

Egypt

~60,000 MW

~25% renew

~100% access

Largest installed in Africa. Benban solar park world’s largest. Gas significant. Exporting to Sudan and Libya.

Net Exporter

Nigeria

~13,000 MW

~22% renew

~60% access

Grid losses: only ~4,000 MW actually delivered. $750M solar mini-grid (World Bank). Dangote refinery + LNG exports.

Grid deficit

Ethiopia

~5,400 MW

~97% renew

~45% access

GERD 6,450 MW total capacity (partially operational). Highest renewable % in tracker. Exports to Kenya, Djibouti.

Net Exporter

Kenya

~3,800 MW

~92% renew

~75% access

Geothermal leader (Olkaria — 900+ MW). Wind (Lake Turkana 300 MW). East Africa power pool active.

Expanding

Morocco

~14,400 MW

~45% renew

~100% access

Noor Ouarzazate solar (580MW, world’s largest CSP). AfCFTA hub with green energy export ambitions to Europe.

Net Exporter

Angola

~7,500 MW

~65% renew

~46% access

Inga III potential (up to 11,000 MW additional). Hydro dominant. IRENA: favourable solar/wind zones mapped.

High potential

Tanzania

~3,900 MW

~58% renew

~43% access

Julius Nyerere Hydro (2,115 MW) nearing completion. Dar es Salaam port Central Corridor SGR terminus. LNG offshore (Block 1-4).

Transforming

Algeria

~25,000 MW

~8% renew

~100% access

Gas dominant (Hassi R’Mel). Major gas exporter to Europe via pipeline. Sahara solar potential enormous — largely untapped.

Gas Exporter

Ghana

~5,300 MW

~40% renew

~85% access

Akosombo hydro backbone. Regional exporter to Togo, Benin, Burkina. GSE recovery creating energy investment conditions.

Regional hub

Mozambique

~2,900 MW

~88% renew

~32% access

Cahora Bassa hydro (2,075 MW) — major regional exporter to SA and Zimbabwe. LNG offshore transformative (Area 1, Area 4).

Hydro Exporter

Zambia

~3,900 MW

~85% renew

~47% access

Kariba Dam (Zambia share ~1,080 MW). Drought reducing hydro output — forcing load shedding. Copper mining critical electricity consumer.

Drought stress

Senegal

~1,500 MW

~30% renew

~70% access

Sangomar oil field (first offshore oil 2024) — game changer. Gas from Mauritania (GTA) project transforming energy mix.

Oil transition

DR Congo

~2,800 MW

~99% renew

~19% access

Grand Inga potential 40,000+ MW — would be world’s largest hydro. Political instability blocking development. Lowest access rate despite enormous potential.

Untapped giant

Rwanda

~310 MW

~55% renew

~66% access

Small but rapidly growing. Methane gas (Lake Kivu) unique source. RSE green bond issued. Kigali MICE economy driving commercial solar.

High efficiency

Uganda

~2,000 MW

~90% renew

~41% access

Karuma (600 MW) + Isimba (183 MW) hydro. East African power pool exporter. EACOP oil pipeline (first oil 2025). Mombasa corridor — 65% of KPC throughput.

Expanding

Namibia

~600 MW

~72% renew

~55% access

Green hydrogen potential enormous (Hyphen Hydrogen Energy). Uranium mining (Rössing, Husab) benefiting from Niger disruption. Renewables growth fastest on continent.

Green H₂ hub

Côte d’Ivoire

~2,400 MW

~35% renew

~70% access

West Africa power pool regional exporter. Gas and hydro dominant. BRVM anchor — Abidjan corridor. Cocoa processing electrification needed.

Regional hub

Sources: IRENA Renewable Capacity Statistics 2025 · IEA Africa Electricity · IEA World Energy Investment 2025 · AfDB · Reference data end-2024.

Africa renewable capacity = 82 GW (1.6% of global 5,149 GW). SSA captured only 2.3% of global renewable investment in 2024 ($18B vs $90B+ needed). Source: IRENA 2025.

Installed capacity ≠ generation. Nigeria’s 13,000 MW delivers only ~4,000 MW to grid due to gas supply and distribution failures. Access rate = % population with electricity connection (World Bank / IEA).