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BUSINESS BRIEF
BY BUSINESS INSIDER AFRICA
OCT 1, 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
Africa's richest man picks U.S. firm Honeywell for $300 million Kenya refinery deal
 
Nigerian billionaire Aliko Dangote has contracted U.S. technology conglomerate Honeywell to supply engineering services, proprietary catalysts, and process licensing for his proposed refinery in Lamu, Kenya.

The $300 million contract forms a critical technological backbone for the planned 700,000-barrel-per-day facility, applying lessons and established designs from the Lagos mega-refinery to shorten the Kenyan construction schedule by nearly two years.

Following a ceremonial groundbreaking alongside President William Ruto, the enterprise represents a broader regional effort to eliminate East Africa's reliance on imported refined petroleum.
READ THE FULL STORY →
THE DAILY NUMBERONE NUMBER BEHIND THE NEWS
10
BOEING FREIGHTERS
Cargo fleet expansion milestone
The number of next-generation cargo jets ordered by Ethiopian Airlines, alongside options for 8 additional aircraft, to expand global freight throughput following a 20% surge in annual revenue.
ACROSS AFRICABUSINESS · POLICY · POWER
BUSINESS · AVIATION & GLOBAL LOGISTICS
Africa's Largest Airline Orders 10 Boeing Freighters to Meet Rising Cargo Demand
Expanding its dedicated cargo fleet beyond its existing 12 Boeing 777s, Ethiopian Airlines secured firm orders and options to scale capacity for African agricultural exports and global e-commerce shipments passing through Addis Ababa.
POLICY · CURRENCY & MONETARY AFFAIRS
Ghana Unveils Redesigned 'Heritage Series' Cedi Notes to Curb Counterfeiting
Commencing circulation on November 3 across all eight denominations (GH¢1 to GH¢200), the Bank of Ghana's updated banknote series introduces advanced anti-counterfeiting features and enhanced physical durability without altering the currency's underlying value.
POWER · INDUSTRIAL LEADERSHIP & INVESTMENT
Meet the AFC Boss Who Connected Kenya with Aliko Dangote for $17B Refinery
Leveraging professional ties from his previous role as CFO of Dangote Cement, Africa Finance Corporation CEO Samaila Zubairu initiated the high-level deal structuring that aligned Nairobi's industrial strategy with private capital to launch the Lamu mega-refinery project.

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THE AFRICA BOARDMARKETS AT A GLANCE
USD / ZAR
R16.41
▲ 0.2%
USD / NGN
₩1,326.10
▌ 0.1%
BRENT CRUDE
$92.50
▲ 1.2%
GOLD · SPOT
$4,185.20
▲ 0.1%
AS OF APPROX. 11:30 WAT, OCT 1, 2026 · BUSINESS INSIDER AFRICA MARKETS
WORLD → AFRICATHE GLOBAL STORY, MADE LOCAL
FOREIGN EXCHANGE & MACROECONOMICS
Top 10 African countries with the strongest currencies in September 2026
Foreign exchange benchmark data shows North and West African nations dominating the list of the continent's highest-valued currencies against the US dollar. Led by the Tunisian Dinar (2.96), Libyan Dinar (6.39), Moroccan Dirham (9.63), and Ghanaian Cedi (11.63), these exchange rate rankings reflect managed pegs and specific currency structures rather than overall national GDP size.
THE AFRICA ANGLE: Corporate treasurers and trade financiers should focus on underlying exchange-rate volatility and central bank foreign exchange reserves rather than nominal currency values when hedging cross-border exposure.
READ THE FULL STORY →
WHAT WE’RE WATCHINGTHE NEXT 72 HOURS
01
Honeywell-Lamu Refinery Engineering Rollout
Initial technical team deployments and engineering schedule releases for the Kenyan refinery project.
EXPECTED: NEXT 72 HOURS
02
Bank of Ghana Public Awareness Campaign
Educational outreach ahead of the November 3, 2026 nationwide rollout of the Heritage Cedi series.
EXPECTED: NEXT 48 HOURS
03
Boeing-Ethiopian Airlines Fleet Delivery Schedule
Finalization of delivery timelines for the 10 firm Boeing 777-8 freighter orders.
EXPECTED: NEXT 72 HOURS

PARTNER MESSAGE

See what's really happening in every deal

Aligned shows you what buyers are doing between meetings inside your most important deals then surfaces the risks, openings, and next steps. No more guessing where a deal stands or finding out a champion went quiet too late. Just real visibility, so you can act before it's too late.

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 West African country recently unveiled its redesigned "Heritage Series" banknote collection across all eight currency denominations?

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JOIN THE NEWSROOMYOUR VIEW MATTERS
TODAY’S QUESTION
Will mega-industrial refining projects in East Africa successfully eliminate the continent's dependence on imported fuel, or will logistics bottlenecks slow down regional trade integration?
Reply with your thoughts—we may feature your perspective in our next edition.
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