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Business Brief
By Business Insider Africa
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From the Editor
Just last week, the conversation was about Dangote's decision to switch petrol sales to dollars. This week, the refinery has reversed course and returned to naira pricing.
The speed of the change shows how quickly major business decisions can shift when markets and operating conditions change.
That leaves consumers adjusting to a market where pricing can change from one week to the next.
 | Victor Inusa, Newsletter Editor. |
✨ Today’s Must Read
Dangote drops dollar petrol pricing, offering relief to Nigeria’s economy
(Photo Credit: FP)
Dangote Petroleum Refinery has reversed its decision to price petrol in US dollars, returning to sales in Nigerian naira for truck loading at the gantry and accepting orders for coastal loading.
Under the restored naira-denominated pricing structure, the refinery fixed its new ex-depot price at N1,215 per litre. This reflects a 13.02 percent increase of N140 per litre compared to the previous N1,075 per litre rate.
The shift follows a week of market uncertainty that forced independent marketers to buy from private depots after Dangote temporarily invalidated naira invoices and briefly priced petroleum products in dollars. Read more…
The Big 3
(Photo Credit: Getty Images)
🇬🇭 Africa’s largest gold producer jail politician for illegal mining
An Accra High Court sentenced Ghanaian opposition politician Bernard Antwi Boasiako to 20 years in prison for illegal gold mining. Convicted of unlawfully assigning mineral rights and facilitating unlicensed operations, his case marks Ghana's most high-profile conviction.
The ruling addresses an illicit industry that causes $2 billion in annual economic losses and environmental damage across the nation. Read more…
🇲🇦 The $30 billion project to transmit power from Africa to Europe via the world's longest sea cable hits a diplomatic roadblock
The $30 billion Sila Atlantik project, designed to supply 5% of Germany's electricity via a 4,800 km Moroccan undersea power cable, faces diplomatic delays. Unresolved talks between Berlin and Rabat stem from Morocco seeking a formal intergovernmental agreement for long-term security.
Morocco also wants the infrastructure to allow two-way electricity flows between both nations. Read more…
🇸🇨 Elon Musk’s Starlink enters one of Africa’s most connected countries as SpaceX expands to its 28th market
SpaceX's Starlink launched commercial satellite internet in Seychelles, its 28th African market. With Seychelles already possessing an 87.4% internet penetration rate, the launch highlights Starlink's strategy shifting from bridging connectivity gaps in remote areas to competing directly in established broadband markets.
The provider will focus on delivering coverage and network resilience across the 115 islands. Read more…
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Geopolitics & Power
(Photo Credit: Sarama Resources)
🇧🇫 Firm with a history in Africa completes sales of its Australian gold assets, after having its gold project seized in Burkina Faso
Sarama Resources completed the sale of its Australian Laverton Gold Projects to Riedel Resources, while retaining exposure via shareholding.
The transaction supports Sarama's strategy while it pursues a $242 million arbitration claim against Burkina Faso, where its multi-million-ounce Sanutura gold project was seized by the government under a drive for state ownership and economic sovereignty. Read more…
Global Trends, African Impact
(Photo Credit: CIPS)
🇦🇴 Africa’s shift toward China’s yuan gathers pace as Angola’s banking sector embraces Beijing’s payment network
Banco de Fomento Angola, the country's second-largest bank, plans to become Angola's first lender to join China's CIPS network next year.
The move supports rising yuan trade demand, lowers transaction costs, and enables faster settlements.
It builds on Angola's central bank recognizing the yuan for reserve rules, reflecting a broader African shift toward yuan usage as ties with Beijing deepen. Read more…
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Did You Know?
(Photo Credit: Geology In)
The Pacific Ocean holds Earth’s deepest point: the Mariana Trench’s Challenger Deep. At nearly 11,000 meters (36,000 feet) deep, Mount Everest could sit inside it with over two kilometers of water still covering its peak. At the bottom, the water exerts an astounding pressure equal to eight tons per square inch—over 1,000 times standard atmospheric pressure.
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