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Published 11th September 2026

Vol 67 No 18


Nigeria

Dangote’s refinery goes public, and so does his ambition

Aliko Dangote at the IPO signing ceremony, 7 September 2026. Pic: Dangote Industries FB
Aliko Dangote at the IPO signing ceremony, 7 September 2026. Pic: Dangote Industries FB

A record share sale is meant to crown Africa’s most audacious industrialist. It may also expose how much his empire depends on political favour

Aliko Dangote is aiming for Africa’s biggest ever initial public offering as he seeks to raise at least US$1.6 billion to expand his Lagos refinery to 1.4 million barrels a day (b/d) from current capacity of 600,000 b/d. The IPO is due to open on 14 September and close on 13 October, with shares expected to list on the Nigerian Exchange in November, according to the lead issuing house Vetiva Advisory Services.


Mnangagwa’s money men buy him time

Behind the President’s constitutional overhaul is a network of wealthy fixers whose fortunes, influence and impunity shape the political machinery

Passing the Constitutional Amendment Bill to extend his term (CAB3) has been exceptionally costly for President Emmerson Dambudzo Mnangagwa whose popular support has never matched that of his...


Fragmentation reshapes the centre

DA leader Geordin Hill-Lewis in Louwville, Saldanha Bay Municipality, 10 September 2026. Pic: @Our_Da
DA leader Geordin Hill-Lewis in Louwville, Saldanha Bay Municipality, 10 September 2026. Pic: @Our_Da

The municipal elections may end ANC hegemony without producing a new dominant party, leaving power to be contested among a wide field of rivals

The 4 November municipal elections may confirm the end of African National Congress dominance without producing a new hegemon (AC Vol 67 No 11). South Africa’s governing centre...



BLUE LINES
THE INSIDE VIEW

The success of the ‘Correct the Map’ resolution, sponsored by Togo and backed by the AU, was a diplomatic triumph for the continent. The United States was the only nation to vote against the resolution – compared with 164 votes in favour at the UN General Assembly on 4 September – which recommends the use of the Equal Earth map, drawn up by a group of cartographers in 2018. Equal Earth more accurately reflects the size of Africa, particularly its countries around the equ...

The success of the ‘Correct the Map’ resolution, sponsored by Togo and backed by the AU, was a diplomatic triumph for the continent. The United States was the only nation to vote against the resolution – compared with 164 votes in favour at the UN General Assembly on 4 September –  which recommends the use of the Equal Earth map, drawn up by a group of cartographers in 2018. Equal Earth more accurately reflects the size of Africa, particularly its countries around the equator, than the widely used Mercator map.

But the resolution is non-binding. While the UN is likely to move to using Equal Earth in its own institutions, talk of a ‘ban’ on the use of Mercator is overblown. Vice-President of Ghana’s Imani Centre, Bright Simons, has played down the significance of the vote, pointing out that the UN resolution states that ‘no single projection can perfectly represent the curved surface of the Earth on a plane, and that each projection is therefore suited to particular purposes’. It also describes Equal Earth as a ‘relevant option’ rather than mandating its use.

The Mercator map, which has been the standard since 1569, when it was drawn up to help European explorers, makes Greenland similar in size to Africa. But the latter is 14 times larger. That inconvenient cartographical fact may cause Africa to replace Greenland as a target of US territorial ambition. No map is perfect, but Mercator is now a relic.

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The scramble for capital

Governments and companies look to Asia and domestic finance as trade and investment fall behind the continent’s population and market growth

The push by African economies to accelerate investment and growth is centred on the African Development Bank’s (AfDB) ambitious plan to mobilise under-utilised domestic resources and countries’ efforts...


Semlex on trial over Kinshasa passport contracts

Civil claimants say US$60 million was diverted from Congolese passport fees in case that tests Belgium’s enforcement of foreign-bribery laws

A Brussels court has ordered 14 people linked to Semlex’s passport contract with the government of Congo-Kinshasa to stand trial after a nine-year investigation into the company’s opaque...


Gulf State rivalries are locking the region into permanent conflict

Both armies are starving civilians while shipping gold to Dubai and Cairo, as the World Food Programme warns it will run out of money within weeks

As UN officials were preparing to release their Independent Fact-Finding Mission’s report on 3 September with more damning reports of the United Arab Emirates arming of the Rapid...


African negotiators claim ground in global tax battle

New York talks move to line-by-line drafting but leave the central contest over taxing rights and the OECD’s authority unresolved

African governments’ political campaign for a UN-led tax system has become a legalistic fight over definitions, statutory obligations and treaties after the latest round of talks in New...


Faye's IMF gamble hits a debt-treatment wall

Diba's refusal to call the deal a 'restructuring' is spooking creditors just as the divided parliament prepares to vote on the contested plan

Questions over how President Bassirou Diomaye Faye’s government intends to bring its foreign debt-service burden down to an affordable level still hang over the IMF executive board’s decision...



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