UKUMBI MARKETS INTELLIGENCE
Reporting on capital, currencies, companies and the policy decisions moving African markets.
01 / Market-moving stories
Latest market journalism from across the continent.
↗A tourist paradise in the Indian Ocean is facing a water shortage. Key sectors of the economy are at risk, and if the situation does not improve, the crisis could develop into a much broader economic problem. Water shortages and rising living costs have become a source of mass protests among the local population.
↗Middle Eastern stock markets delivered mixed performances on Sunday as escalating geopolitical tensions unsettled investors. Saudi Arabia's stock market advanced on the back of rising oil prices, while Qatar recorded its lowest close in more than six years and Egypt suffered a sharp decline amid growing regional instability.
↗The South African rand strengthened slightly against the dollar in early trading on Monday as investors positioned themselves ahead of key economic releases, including the government's medium-term budget policy statement and September inflation figures.
↗Cape Town — Mozambique is seeking investment from South African energy companies for a proposed $250 million natural gas project aimed at strengthening regional energy security and positioning the country as a major energy supplier in Southern Africa.
↗Gabon is targeting a staff-level agreement with the International Monetary Fund (IMF) for a new financing programme by the end of 2026, according to a government circular.
↗Kenya’s economy expanded by 5.1% year-on-year in the second quarter of 2026, accelerating from the 4.9% growth recorded in the same period last year, according to data released by the country’s statistics office on Friday.
↗Johannesburg— South Africa's rand strengthened slightly against the US dollar on Friday as a weaker greenback supported the currency, while investors turned their attention to next week’s medium-term budget policy statement for signals on the country’s fiscal outlook and credit-rating prospects.
↗South Africa's environment minister has dismissed appeals by conservationists seeking to block offshore oil and gas exploration in TotalEnergies-operated Block 3B/4B off the country's West Coast, clearing a regulatory hurdle for a project that has faced sustained opposition from environmental groups.
