Dangote Petroleum Refinery Launches Record $1.6bn IPO
Nigerian billionaire Aliko Dangote has launched what is expected to become Africa’s biggest initial public offering, seeking to raise about $1.6 billion to expand his Lagos-based refinery. The Dangote Petroleum Refinery, which began operating in 2024. The Dangote Petroleum Refinery aims to raise funds to double its capacity to 1.4 million barrels a day by 2028, which would make it the world’s largest refinery, surpassing Jamnagar in India. Dangote said the IPO was “not simply about listing a company; it is about listing a new possibility for Nigeria, and for Africa”. Dangote is encouraging ordinary Nigerians to participate, with shares available in small quantities, saying the listing could broaden public ownership while reducing Africa’s dependence on imported refined fuel. The company also has ambitions to expand into other African countries.
UN Warns Sudan Humanitarian Aid Could Run Out Within Weeks
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United Nations aid agencies have warned that humanitarian assistance in Sudan could be significantly reduced within weeks because of severe funding shortages, despite the country facing one of the world’s worst hunger and displacement crises. About 8.6 million people remain internally displaced and 19.5 million face crisis levels of food insecurity. The International Organization for Migration says essential shelter, sanitation and emergency relief supplies could run out by the end of September. The World Food Programme is only about one-third funded. Continued fighting between the Sudanese Armed Forces and Rapid Support Forces is displacing thousands more people, while aid workers face major access challenges. The United Nations is calling for increased funding, protection of civilians and safe humanitarian access across the country.
Uganda Reverses Invictus Games Withdrawal
Uganda has reversed its decision to withdraw from the 2027 Invictus Games in Birmingham after receiving clarification from Buckingham Palace that King Charles III has no objection to the country’s participation. The decision followed a call between Uganda’s Chief of Defence Forces, General Muhoozi Kainerugaba, and the King’s principal private secretary. Uganda had announced its withdrawal over concerns about taking part in the games. Gen Muhoozi welcomed the clarification and said preparations for Uganda’s participation in the competition would resume. The Invictus Games, founded by Prince Harry in 2014, brings together wounded, injured and sick serving military personnel and veterans to compete in adaptive sports. Uganda joined the Invictus Games this year as the 26th participating nation, becoming the first East African country to take part in the international sporting event.
M23 Rebels Establish Parallel Rule in Eastern DR Congo
Rwanda-backed M23 rebels have established a parallel system of governance and taxation across areas they control in eastern Democratic Republic of Congo, using income from businesses, transport, cross-border trade and minerals to finance their administration and military operations. The rebels have taken control of major cities including Goma and Bukavu and impose fees on residents, businesses, transporters and humanitarian organisations. Mineral resources, particularly coltan from the Rubaya mining area, provide another major source of revenue, with minerals reportedly moving through Rwanda and into international markets. However, the taxation system is placing further pressure on an economy already damaged by war. The closure of banks and Goma airport has disrupted trade and left many residents struggling to access money, jobs and basic services.
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Ruto Warns Kenya Leaders Against Divisive Politics
Kenyan President William Ruto has warned political leaders against using violence, tribalism and division to pursue their political interests ahead of the 2027 General Election. Speaking in Kisumu during his development tour of Nyanza, Ruto called on opposition parties to present clear political programmes rather than relying on what he described as outdated politics. He also highlighted government investments in Kisumu, including billions of shillings for roads, affordable housing, water and sanitation, police housing and aviation infrastructure. Ruto commissioned a major Lake Victoria water and sanitation project and launched road construction projects, saying the investments would improve connectivity, expand services and support economic activity in the region.
