Here is your wrap for week ending Friday, August 14, 2026 — final numbers for the week:
The big picture this week
Africa's financial map is shifting. According to BusinessDay's Africa Finance in Brief this week:
• South Africa recorded its first negative FDI inflows since 1990 last year as multinationals repatriated profits and unwound intra-company loans.
• First Abu Dhabi Bank (FAB), UAE's largest lender, is preparing to seek a banking licence in South Africa, after opening a rep office in Nigeria earlier this year. It signals Gulf banks filling gaps left by retreating European banks.
• EBRD is using Nigeria as its base for a wider push into sub-Saharan Africa, committing at least $1.5 billion over three years targeting Nigeria, Kenya, Benin, Senegal and Côte d'Ivoire.
• IMF growth check: Nigeria's 2026 forecast held steady at 4.1%, South Africa upgraded slightly to 1.1%, even as sub-Saharan momentum slows. Markets & Currencies
• Naira, Shilling, Cedi stable: Traders flagged a mixed outlook next week — Kenya, Nigeria and Ghana expected to be broadly stable.
• NGX: The Nigerian market stayed bullish mid-week. On Thursday Aug 13, the market maintained its upward trend as investors hunted value, with about N50bn gain thanks to Nigerian Breweries, MTNN and others. It follows the N288bn jump on Aug 3.
Startups & Venture
July data that dropped this week still dominating conversation:
• African startups raised $102m in July, lowest since March 2025, down 80% — investors switching to debt.
• Kenya: $36.8m (13 deals), Nigeria: $4.9m (6 deals) — Nigeria accounted for just 4.79% of July funding despite being largest ecosystem.
• H1 picture is more resilient for big tickets: $1.5bn+ raised in H1 2026, with Egyptian digital lender Blnk ($37.1m) and others closing. Energy & Trade
• Kenya-Rwanda fuel corridor: New government-to-government framework signed Monday to move more of Rwanda's fuel via Mombasa using Kenyan pipeline/storage — first cargo due early September.
• Dangote refinery watch: Continues to need 13-15 cargoes/month, receiving only 5-7 from NNPC — market watching UAE crude imports for first time.
• Yuan clearing: China authorized Standard Bank and ICBC for Africa yuan clearing — Asian countries now preferred trade partners for 35% of African businesses surveyed. What to watch next week
• DMO FGN bond auction — August offer cut to N1.1trn despite N1.74trn July demand
• CBN PMI and trade sector expectations for August
• Visa Africa Fintech Accelerator — 5th cohort applications closed today Aug 15