BUSINESS - The African Mirror

Mar

10

2026

Nigeria ends 20-year oil block dispute with Eni in settlement worth billions

BUSINESS

NIGERIA has formally closed one of the most contentious chapters in its oil and gas history, signing a settlement agreement with Italian energy giant Eni and its subsidiary Nigerian Agip Exploration Limited (NAEL) to resolve a dispute over offshore block OPL 245 that has shadowed the country's investment reputation for more than two decades. Attorney-General and Minister of Justice Lateef Fagbemi confirmed the conclusion of the deal at a ceremony in Abuja on 25 February, describing it as "a turning point for Nigeria's oil and gas sector after more than two decades of legal battles and international arbitration." The settlement…

Mar

07

2026

By BOMIKAZI ZEKA and ROMALANI LEOFO

Women and wealth: what stands in their way and how to overcome it

BUSINESS

YOU’VE probably heard the saying, “The rich become richer, while the poor become poorer”. It’s about how uneven financial progress can be. One of the reasons behind financial inequality is the gender pay gap, but the wealth gap is even more revealing. It explains why disparities persist between the rich and the poor. Wealth – your assets, savings, property and retirement provisions – is the true measure of long-term financial security. Research shows that wealth gaps aren’t created by gender alone. Aspects like race, class, education, disability, age and nationality also influence the distribution of wealth. When these aspects overlap,…

Mar

07

2026

By BONFACE ORUCHO, BIRD STORY AGENCY

Asset finance anchors African fintech’s next phase

BUSINESS

AFTER years of chasing breakneck growth through instant microloans and frictionless digital payments, African fintechs are shifting their focus to financing assets that people use to earn a living. Across Nigeria, Kenya, and beyond, digital lenders are moving beyond short-term cash advances into asset-backed products that fund smartphones for online work, motorcycles for delivery riders, and, in some cases, three-wheelers for transport operators. According to experts, the new bet is that backing income-generating assets rather than consumption offers stronger unit economics, lower default risk, and longer customer lifecycles. “Over the last decade, most African digital lenders optimised for speed and…

Mar

06

2026

By The African Mirror

PIC Chair wins court interdict as judge finds anti-corruption claims against Masondo defamatory

BUSINESS

THE Johannesburg High Court has issued a sweeping interdict against businessman Ralebala Matone Mampuele, ordering him to retract defamatory allegations made against Public Investment Corporation (PIC) Chairman and Deputy Minister of Finance Dr David Masondo - and to pay punitive legal costs for refusing to desist even after being warned. Justice Wright, delivering judgment in Masondo v Mampuele (Case 2026-032265) on Wednesday, found that a campaign of emails, media briefings and podcast appearances by Mampuele - spanning from 9 to 19 January 2026 - was "prima facie wrongful and defamatory" in that the publications "lower Mr Masondo in the eyes…

Mar

05

2026

By DANIELE D'ALVIA

What oil, stocks and bonds are telling us about the Iran conflict and how long it might last

BUSINESS

WHEN a conflict escalates, financial markets respond within minutes. That reaction is not just panic or speculation – it is a kind of collective judgement about what might happen next. The conflict between the US, Israel and Iran, which started on Saturday, triggered a sharp jump in oil prices when Asian markets opened on Monday (rising by as much as 13% amid fears of supply disruption). Major Gulf indices fell steeply, and in some cases, trading was suspended amid volatility. At the same time, investors moved into so-called “safe-haven” assets. Gold prices rose, and demand increased for traditionally defensive currencies…

Mar

05

2026

By WARREN MABEE

What is the Strait of Hormuz, and why does its closure matter so much to the global economy?

BUSINESS

THE joint attack launched by the United States and Israel on Iran began on February 27 and has sparked a fast-moving conflict that could expand across the Middle East. Iran’s response has already included strikes on U.S. bases in surrounding countries as far away as Qatar and Oman, and has announced the closure of the Strait of Hormuz, going so far as threatening to set ships on fire if they enter the strait. The Strait of Hormuz is a 55-kilometre-wide strait that narrows between Iran and Oman, separating the Persian Gulf from the Arabian Sea. It is a particularly important…

Mar

05

2026

By ANDREW ROBERT DONALDSON

South Africa’s economy is picking up, but hasn’t reached a turning point yet – economist

BUSINESS

IN presenting the 2026 national budget to South Africa’s parliament on 25 February, finance minister Enoch Godongwana characterised this as the turning point in South Africa’s public finances – heralding improved confidence, increased growth and rising infrastructure investment. For over a decade, the size of the deficit and the rise in public debt have been central themes in the annual budget. This year, analysts have welcomed the apparent turnaround in the budgetary outlook. Debt has peaked at just under 80% of GDP. And for the first time in a decade, the Treasury projects that interest on debt will increase more…

Mar

01

2026

By The African Mirror

South Africa doubles down on Black Economic Empowerment – but demands results

BUSINESS

THIRTY years into democracy, South Africa's government is sending a clear message to the business community: Broad-Based Black Economic Empowerment is not going anywhere - but it is going to change. Speaking at the Second Frank Dialogue on the Future of B-BBEE in Durban on Friday, Deputy President Paul Mashatile struck a tone that was equal parts defensive and demanding. Defensive of the policy's constitutional and moral foundations. Demanding when it came to results. "Abandoning B-BBEE is not an option," he told an audience of business leaders, traditional leaders, economists, and policymakers gathered at the Coastlands Umhlanga Hotel. "The path…

Feb

28

2026

By CONRAD ONYANGO, BIRD STORY AGENCY

African trade poised to gain from US-China rivalry

BUSINESS

WASHINGTON has offered most African countries a limited export access offer to AGOA through a 12 month’s extension until December 31 2026, with a selective promise of bilateral deals. Beijing has countered Washington’s offer with zero export tariffs and rapid market access scheduled to begin implementation in early May. Beijing has said it will eliminate tariffs on all products from 53 African countries with which it maintains diplomatic relations, subsequently extending zero-tariff treatment beyond the 33 mostly least-developed countries that previously enjoyed such access. African economies are, however, not picking on a single partner; they are signing with all of…

Feb

27

2026

By The African Mirror

Kazungula Bridge Authority: How two small nations are writing Africa’s integration playbook

BUSINESS

WHEN Presidents Duma Boko and Hakainde Hichilema stood together at the old Kazungula ferry ramp this week, the symbolism was deliberate and pointed. The same river crossing that once served as a lifeline for southern Africa's liberation movements - a clandestine artery for freedom fighters evading apartheid's reach - is now being repositioned as infrastructure for a different kind of freedom: economic sovereignty. The formal launch of the Kazungula Bridge Authority marks a significant, if under-reported, moment in African regional integration. Five years after the bridge itself was commissioned, Botswana and Zambia have moved beyond the ribbon-cutting to do the…