The Week Ahead – Different bus routes
African startup funding surpassed $2 billion, led by fintech. Nigeria's inflation fell, while regional security issues and new economic agreements shaped West African affairs.
While African startups just raised a cool $2 billion, proving Fintech and Cleantech are hotter than a Lagos afternoon, Nigeria itself is a study in contrasts. Inflation is ‘easing’ at a breezy 20%, oil output is missing targets but losing less to thieves, and the Naira is rallying. Political emergencies are called off, even as banditry expands its franchise. Next door, Ghana is kindly accepting American deportees, and Côte d'Ivoire is signing mega-deals to power the region. It seems across Africa, the future is arriving—it’s just taking a few different, wildly divergent buses to get there.
Chart of the week
Video
In March, when the state of emergency was declared in Rivers State, SBM's legal analyst, Veronica Pana Igube, discussed the events and the implications for Nigerian citizens with Uwa Saleh of WAYS. Time has proven her right.
What we are watching this week
African startups raised over $2 billion from January to August 2025, surpassing 2024. Fintech dominated, securing over $1 billion, while cleantech had a record year. East Africa led regionally. The report noted larger deals but a persistent gender funding gap.
Nigeria's annual inflation rate fell to 20.12% in August from July's 21.88%. The decline is partly attributed to a change in the CPI base year. Monthly price increases also slowed, yet upward pressures on consumer costs remain.
President Tinubu has lifted the state of emergency in Rivers State, enabling the governor, deputy, and assembly to return to work. The controversial six-month intervention, criticised for overreaching presidential power, was declared to resolve a governance-paralysing constitutional crisis.
Despite missing its August OPEC production target due to theft and disruptions, Nigeria's crude losses are at a 16-year low. Meanwhile, the naira has strengthened to a seven-month high, boosted by increased oil export earnings and foreign inflows.
Bandit attacks in Nigeria's Kwara and Katsina states left vigilantes dead and farmers abducted, destroying property. Kwara residents protested, blocking a highway. Governors promised financial aid and new security logistics, casting doubt on the sustainability of local peace agreements.
Côte d’Ivoire has signed a US compact to overhaul its electricity infrastructure, cutting costs and boosting regional trade. Concurrently, it is reviving the stalled ECOWAS Eco currency project, aiming for a phased rollout by 2027 to drive regional integration.
Under a bilateral understanding, Ghana is receiving West African nationals deported from the US. Officials stress the move is a humanitarian, non-transactional act of Pan-African solidarity, not an endorsement of US policy. Deportees will be vetted upon arrival.