Business Brief
By Business Insider Africa
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From the Editor
Nigeria has long been known for exporting crude oil while importing refined fuel. That story is beginning to change.
In June, Dangote Refinery supplied more jet fuel to Europe than the United States, marking a major milestone for both Nigeria and Africa's refining industry. The numbers highlight how quickly the refinery is expanding its reach beyond the continent.
It is another reminder that building refining capacity can reshape trade, strengthen energy security, and give African producers a bigger role in global markets.
![]() | Victor Inusa, Newsletter Editor. |
✨ Today’s Must Read
Nigeria overtakes U.S. as Europe's top jet fuel supplier with 466,000-tonne June exports from Africa's largest refinery
Nigeria exported 466,000 metric tonnes of jet fuel to Europe in June, nearly doubling its May shipments and overtaking the United States as the continent's largest external supplier.
The record exports came even as European jet fuel prices declined because of higher refinery output and weaker summer demand.
The milestone highlights the Dangote Refinery's growing role in global fuel markets as it expands exports across Africa and Europe while pursuing plans to increase refining capacity across the continent. Read more…

The Big 3

(Photo Credit: H&P)
🌍 South Africa, Egypt and Morocco rank among the countries with the most ultra-rich individuals globally in 2026
South Africa remains Africa's leading hub for ultra-high-net-worth individuals with 1,347 people holding at least $30 million in net assets, followed by Egypt with 822 and Morocco with 432.
Knight Frank expects all three countries to see further growth by 2031 as the global population of ultra-wealthy individuals continues to expand. Read more…
🇺🇸 Africa's most powerful military inaugurates a new military HQ with a US-inspired twist
Egypt has opened The Octagon, a new command headquarters in its New Administrative Capital that brings together military operations, strategic planning and national crisis management.
The complex includes artificial intelligence systems, a national emergency centre and digital infrastructure designed to improve decision-making and responses to security threats and emergencies. Read more…
World’s largest hotel chain drops Pepsi for Coca-Cola after 34 years in global beverage deal that also includes Africa
Marriott International has ended its 34-year partnership with PepsiCo and begun rolling out Coca-Cola products across its hotels worldwide.
The agreement covers about 10,000 properties in 146 countries and territories, including Marriott's growing African portfolio, where Coca-Cola beverages will gradually replace Pepsi products over the coming months. Read more…
Quote Of The Day
You miss 100% of the shots you don’t take.
Listicles

(Photo Credit: Palladium Travel Club)
Top 5 African passports with the strongest global travel access.
A stronger passport gives citizens easier access to international travel without the hassle of obtaining visas in advance. According to the Henley Passport Index 2026, Seychelles and Mauritius continue to lead Africa, while South Africa, Botswana and Namibia round out the continent's top five.
| S/N | Country | Visa-Free / Visa-on-Arrival Access |
|---|---|---|
| 1 | 🇸🇨 Seychelles |
|
| 2 | 🇲🇺 Mauritius |
|
| 3 | 🇿🇦 South Africa |
|
| 4 | 🇧🇼 Botswana |
|
| 5 | 🇳🇦 Namibia |
|
Source: Henley Passport Index 2026 (Henley & Partners)
Geopolitics & Power

Badr Abdelatty. (Photo Credit: Ifri)
🇪🇬 EU prepares another $1.7 billion for Egypt as Europe deepens its strategic bet on Africa’s second-largest economy
Egypt expects to receive €1.5 billion ($1.72 billion) from the EU within days. The payment belongs to a €5 billion assistance programme under a larger €7.4 billion strategic partnership to support Egypt's economy.
The funding helps Cairo handle regional conflicts, migration pressures, and Red Sea trade disruptions while pursuing IMF-backed economic reforms to fix foreign currency shortages. Read more…
Global Trends, African Impact

(Photo Credit: AllAfrica)
🇧🇪 Belgium unlocks colonial-era Congo mining records with $24 trillion at stake as U.S. and China compete for critical minerals
Belgium is opening a vast colonial-era geological archive containing nearly 500 meters of mining records on the DRC. The files will help the country identify unexplored deposits and boost its leverage over a mining sector valued at $24 trillion.
As the US and Europe compete to rival China's dominance in critical minerals, a joint roadmap will digitize and return these records to the DRC. Read more…
Executive Trivia

(Photo Credit: 360lending)
Which country has the world's oldest stock exchange?
Did You Know?

(AI Generated Illustration)
This 2026 World Cup makes it the third time two African teams are advancing to the Round of 16, following the dual qualification of Algeria and Nigeria in 2014 and Morocco and Senegal in 2022.
In the current tournament, Morocco and Egypt are sharing the spotlight as the continent's two representatives left standing in the final sixteen.
This major milestone comes on the heels of a massive group stage where an unprecedented nine African nations successfully broke through into the knockout rounds.
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