Nigeria Expands Maritime Investment, Ghana Inflation Slows

In July 2025, Nigeria's economy continued its expansion with the Composite Purchasing Managers’ Index rising to 52.7, marking the eighth consecutive month of growth across industry, services, and agriculture sectors. Nigeria and China have agreed on a significant partnership to boost maritime investments, including a $2 billion investment and zero tariffs on Nigerian aquaculture exports to China, aiming to create jobs and establish Nigeria as a regional maritime hub. Meanwhile, the Central Bank of Nigeria established a new Compliance Department to enhance oversight of financial crimes and ESG risks, and the Federal Competition and Consumer Protection Commission implemented strict regulations on digital lending to protect consumers from exploitative practices. In Ghana, the stock exchange saw a major decline in trading volume and turnover on September 4, 2025, despite minor gains in benchmark indices, reflecting cautious investor sentiment. South African markets were volatile due to a weaker rand influenced by a stronger US dollar and mixed economic signals, with investors awaiting key corporate earnings and government economic data amid political uncertainty. Additionally, across Africa, energy and financial sectors are experiencing notable developments, including TotalEnergies' increased drilling plans in Namibia, Angola's record bank IPO, Uganda's infrastructure funding efforts, and South Africa’s currency fluctuations linked to global interest rate expectations and oil price trends.