Business Brief
By Business Insider Africa
From the Editor
Welcome to the new week.
Ethiopia caught my eye this morning. Theyāve managed to put 115,000 EVs on the road by simply banning the import of petrol and diesel cars; a bold move to break their dependence on expensive foreign oil.
It shows that while the West debates timelines, Ethiopia is using extreme necessity to leapfrog from fossil fuels directly to a renewable-powered transport system.
Iām curious to see if this "policy-by-force" becomes the blueprint for other fuel-starved nations on the continent.
![]() | Victor Inusa, Newsletter Editor. |
⨠Todayās Must Read
Why Dangote is favouring Kenya over Mozambique, Tanzania for his next mega refinery project
(Photo Credit: Getty Images)
Aliko Dangote is prioritizing Kenya for a $15 billion to $17 billion refinery project after a technical assessment ranked it ahead of Mozambique and Tanzania.
The evaluation favored Kenya based on economic and technical merits, specifically citing Mombasaās superior deep-water port and maritime logistics.
This location allows for easier crude oil imports from international suppliers like the UAE while sourcing regional supplies from Uganda and South Sudan.
Additionally, Kenya offers a larger economy and higher fuel consumption. Analysts note that Mombasaās existing infrastructure already serves as a major gateway for petroleum distribution across East Africa.
The Big 3

(Photo Credit: Imperial Citizenship)
š²šŗ Africa's second richest country activates $1M golden visa program to attract 100 high-net-worth individuals globally
Mauritius has launched a $1 million Golden Visa program targeting 100 high-net-worth individuals annually to invest in sectors like fintech, AI, and renewable energy.
The initiative offers a multiple-entry visa for two years, renewable with further investment, as part of the country's strategy to attract global capital to its stable and peaceful economy.
š°šŖ Africa's richest man, Dangote, proposes $17B refinery in Kenya despite Ruto's hopes for a regional joint project
Aliko Dangote is planning to build a $17 billion oil refinery in Mombasa to address East Africaās energy needs, favoring the location for its deep-water port and Kenya's large economy.
The project marks a shift away from a proposed regional joint refinery in Tanzania, as Dangote looks to strengthen energy security and expand his business empire toward a $100 billion goal by 2030.
š³š¦ Australian mining firm strikes high-grade rare minerals in Namibiaās Kameelburg project
Aldoro Resources discovered high-grade niobium and strontium at the Kameelburg project in central Namibia. These minerals are vital for high-performance magnets and strengthening steel used in modern green technology.
Following findings of a larger and more valuable deposit than expected, the firm secured N$39 million to fund expanded drilling and assess the viability of a large-scale mining operation.
Quote Of The Day
To build a successful business, you must start small and dream big. In the journey of entrepreneurship, tenacity of purpose is supreme.
Listicles

(Photo Credit: CGTN)
Top 10 African countries with the lowest real GDP growth in 2026
Sub-Saharan Africa's average growth is expected to stay at 4.1% in 2026, but some nations face a precarious situation due to structural weaknesses and debt.
Slow GDP growth in these countries makes it harder to create jobs for rising populations and restricts government spending on critical sectors like education and healthcare.
| S/N | Country | Real GDP Growth (%) |
|---|---|---|
| 1 | š¬š¶ Equatorial Guinea |
|
| 2 | š²šæ Mozambique |
|
| 3 | šæš¦ South Africa |
|
| 4 | šøšØ Seychelles |
|
| 5 | š±šø Lesotho |
|
| 6 | šøš³ Senegal |
|
| 7 | šØš« CAR |
|
| 8 | š²š¼ Malawi |
|
| 9 | š¦š“ Angola |
|
| 10 | š²šŗ Mauritius |
|
Source: World Bank
Geopolitics & Power

Samia Suluhu Hassan, President of Tanzania. (Photo Credit: AP)
š¹šæ EU delegates denied access to Tanzania amid election abuse allegations
Tanzania has blocked a European Parliament delegation from entering the country to investigate alleged election violence and human rights abuses from the 2025 vote.
Although the government previously delayed the visit to finish its own internal inquiry, it has failed to confirm new dates despite concluding that report in April.
The subcommittee chairman described these continuous postponements as a refusal to cooperate and is now evaluating the future of the diplomatic relationship with the nation.
Global Trends, African Impact

(Photo Credit: X / xhnews)
šŖš¹ Fuel shocks push Ethiopia deeper into EV transition with 115,000 electric cars already on the road
Ethiopia has already put more than 115,000 electric vehicles on the road after banning the import of petrol and diesel cars in 2024 to combat high fuel costs.
The transition helps the country avoid $4.2 billion in annual fuel imports and heavy monthly subsidies by utilizing its solar and hydropower, which generate 90% of its electricity.
To make these vehicles more affordable and reduce reliance on foreign fuel, the government is currently working to build 17 domestic assembly plants with a goal of reaching 60 by 2030.
Executive Trivia

(Photo Credit: Wikipedia)
Did You Know?

(Photo Credit: frenchside.co.za)
Itās a common misconception that Africa speaks just English and French. The Portuguese-speaking (Lusophone) bloc is actually massive and growing faster than almost any other linguistic group.
In fact, by the year 2100, Africa is projected to have the majority of the world's Portuguese speakers, even surpassing Brazil.
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