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BUSINESS BRIEF
BY BUSINESS INSIDER AFRICA
AUG 25, 2026
5-MINUTE READ
Africa’s daily intelligence on business, policy and power—what changed, what it means and what to watch next.
OPENING SIGNAL
Nearly half of the world's oil now comes from conflict zones

Six months after U.S. and Israeli attacks on Iran triggered the largest oil supply crisis on record, Reuters calculations show that conflict-affected countries account for over 43% of global oil supply.

Current Gulf oil disruptions stand at 5 million to 7 million barrels per day, while ongoing conflicts in Ukraine, Libya, and Venezuelan export restrictions add further strain.

The fighting in the Gulf and Ukraine has also knocked out about a tenth of global refining capacity. The resulting fuel price rally has driven up inflation, raised borrowing costs, and pushed U.S. debt to a record $40 trillion.

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THE DAILY NUMBER ONE NUMBER BEHIND THE NEWS
43%
OF GLOBAL OIL SUPPLY
Oil exposed to geopolitical disruption
About 45 million barrels per day of global oil production comes from countries affected by conflict or major geopolitical instability.
WHY IT MATTERS: With more supply exposed to disruption, a new conflict can have a faster and wider effect on fuel prices.
ACROSS AFRICA BUSINESS · MARKETS · POLICY
BUSINESS · EASTERN & SOUTHERN AFRICA
A $600 million bet on African agriculture
A sustainability-linked loan for ETC Group, backed by FMO and TDB Group, has grown to $600 million as new investors joined the financing.
The funding is aimed at supporting working capital and agricultural value chains across Africa, showing how food production is increasingly being viewed as a wider supply-chain and trade opportunity.
MARKETS · SOUTH AFRICA
Gold Fields profit jumps 81% as Ghana licence uncertainty clouds outlook
South African miner Gold Fields reported an 81% jump in half-year profit, helped by higher gold prices and a 12% increase in production.
But investors are watching uncertainty over the renewal of its Tarkwa mine leases in Ghana, which expire in April 2027.
POLICY · NIGERIA
MTN's IHS deal comes with a local ownership condition
Nigeria's competition regulator has given conditional approval to MTN's acquisition of IHS, requiring the telecom company to reduce its stake in the Nigerian tower business by up to 30% over time.
The decision puts a spotlight on how governments are approaching local ownership in the infrastructure behind Africa's growing digital economy.

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THE AFRICA BOARD MARKETS AT A GLANCE
NIGERIA NAIRA
₦1,345/$
● OFFSHORE INFLOWS SUPPORT THE CURRENCY
ZAMBIA KWACHA
18.99/$
● COPPER PRICES PROVIDE SUPPORT
UGANDA SHILLING
3,720/$
● FOREIGN-CURRENCY INFLOWS HELP
GHANA CEDI
11.00/$
● DOLLAR DEMAND WEIGHS ON THE CEDI
AUG 25, 2026 · MARKET SNAPSHOTS AT PRODUCTION TIME.
WORLD → AFRICA THE GLOBAL STORY, MADE LOCAL
GLOBAL MARKETS
Markets are waiting for Nvidia—but oil remains the bigger risk for Africa
Global markets are relatively subdued ahead of Nvidia's earnings, while investors continue to watch U.S. consumer data and the latest developments around Iran.
Oil prices have eased after Washington's latest sanctions announcement had a smaller immediate effect on trade than some investors expected. But the wider energy picture remains fragile.
THE AFRICA ANGLE: A sustained drop in crude prices could ease pressure on fuel-importing economies. Another supply shock could quickly raise transport costs, inflation and demand for foreign currency.
WHAT WE'RE WATCHING THE NEXT 72 HOURS
01
Nvidia's earnings
The chipmaker's results will offer another major test of whether AI investment is continuing to translate into demand.
WATCH: THE AI RALLY
02
U.S. pressure on Iran
The latest sanctions had a limited immediate effect on oil markets, but further action could change that quickly.
WATCH: OIL PRICES
03
Nigeria's market reopening
Investors will watch whether the recent correction continues when trading resumes.
WATCH: EQUITY FLOWS

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EXECUTIVE TRIVIA
HOW WELL DO YOU KNOW AFRICAN BUSINESS?

One quick question on African business, economics, policy or corporate history. Choose an answer below and see immediately if you are right.

Which of these is not usually considered a source of company financing?

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JOIN THE NEWSROOM YOUR VIEW MATTERS
TODAY'S QUESTION
Can African markets rely less on foreign capital?
Nigeria's latest market data shows domestic investors now account for the overwhelming majority of equity transactions.
Is stronger local participation a sign of a healthier financial system—or a warning that foreign investors are still staying away?
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