I woke up in Rabat in the wee hours of Tuesday morning to the sound of horns and cheers echoing across the city. Few had slept Monday night. Morocco had just secured another historic World Cup victory, and the streets belonged to celebration.
That spirit of momentum carries through this week's Brief. Africa is laying railways and runways, expanding airports and power grids, investing in critical minerals, attracting AI infrastructure and tackling long-standing barriers to regional integration. None of these stories dominates global headlines. But together, they tell a bigger story: I believe the continent is steadily building the foundations of its next phase of growth.
This week, we look at how smarter mining could unlock $40B in value, that infrastructure spending is accelerating across Africa, and what's holding back intra-African air travel.
Graphic of the Week
Mining Critical Value
Source: McKinsey and Co.
Africa holds more than a quarter of the world's known critical mineral reserves, yet much of that advantage remains untapped. A new McKinsey report estimates the continent could unlock $40B in additional value and create more than 3 million jobs by 2035 through shared mining infrastructure, better project execution and AI-driven operations.
Why it matters: The race for critical minerals isn't just about what lies underground. It's about who can build the roads, power, rail and processing capacity to turn natural resources into long-term economic growth.
Source: McKinsey and Co.
What We Are Reading
Africa: Falling oil prices are boosting Kenya and DR Congo eurobonds while weighing on oil exporters such as Nigeria, Gabon and DR Congo, as investors shift toward energy-importing economies with improving fiscal outlooks (Bloomberg); The World Bank and African Development Bank are accelerating Mission 300 after connecting more than 50 million people to electricity (Bloomberg).
Côte d’Ivoire: The IMF approved an $832.8M disbursement (Reuters).
DR Congo: A UN report said Rwanda continues to back M23 rebels despite the peace deal with Congo (Bloomberg).
Ethiopia struck a deal to cut payments on its defaulted $1B bond, avoiding legal action and advancing its debt restructuring efforts (FT).
Gabon: Moody’s downgraded Gabon’s outlook to negative, warning that funding pressures and debt risks could lead to potential default (Reuters).
Kenya: The government signed a $1.2B deal with China Road and Bridge Corporation to expand Nairobi’s main airport and nearly triple its passenger capacity (Reuters).
Libya: The eastern-based government banned entry for nationals of Sudan, Eritrea, Ethiopia and Somalia as part of new rules on foreign nationals (Reuters).
Niger has begun withdrawing from the International Criminal Court, accusing it of selective justice and aligning with Mali and Burkina Faso (AP News).
Nigeria’s Senate approved a bill to create state police forces, advancing a major security reform aimed at tackling rising insecurity through decentralized policing (AP News); The World Bank approved $1.25B in financing to support reforms aimed at boosting growth, jobs, energy access and digital and economic modernization (Bloomberg).
Senegal: Lawmakers approved constitutional reforms that reduce presidential powers and expand parliament’s role with the changes set to go to a referendum (AP News); The IMF held constructive talks with Senegal on a new support program as the country works to resolve its debt reporting crisis (Reuters).
South Africa: Shell announced it is close to selling its fuel station network to Abu Dhabi National Oil Company’s retail arm in a deal worth $1B (Bloomberg).
Sudan: Newly printed Sudanese pounds are circulating in RSF-controlled areas, raising questions about who issued the currency and deepening the country's de facto economic and political split (Reuters).
Tanzania: Aliko Dangote has begun talks with the government to invest in major infrastructure projects, including ports, roads, power, fertilizer and industrial zones as he expands across Africa (Bloomberg).
Zimbabwe: The government announced plans to explore resource-backed financing with China for road and rail projects while confirming a 2027 ban on lithium concentrate exports to boost local processing (Reuters).
Infrastructure in Africa
Building Africa
According to data from the African Development Bank and analyzed by BE Magazine, Africa's largest economies are accelerating infrastructure investment. South Africa, Egypt and Nigeria are leading the way, with billions earmarked for roads, rail, energy, ports and digital infrastructure. Morocco, Ethiopia and Tanzania are also making major bets on projects designed to improve trade and connectivity.
In perspective: Africa needs an estimated $130 to $170B in infrastructure investment each year. In aggregation, the continent invests about 4% of GDP, compared with 14% in China. Thankfully, momentum seems to be building through public-private partnerships, green bonds, blended finance and deeper domestic capital markets as the continent lays the foundation for its next phase of growth.
Sports in Africa
Week 3 Results
Source: Africa Brief
So far, Africa has delivered its best World Cup ever, with nine of 10 teams reaching the knockout stage, a tournament record. Morocco is already through to the Round of 16, while Cape Verde, Ghana and Egypt have the chance to join them in the next 48 hours. Read more: FIFA
Innovation in Africa
Fintech's Next Frontier
Source: McKinsey and Co.
Africa generated an estimated $15B in fintech revenue in 2025, the smallest by region that the McKinsey report tracks, but it's also the world's fastest-growing. Revenue expanded at a 64% CAGR between 2021 and 2025, more than triple the global average.
Key takeaways:
Growth is outpacing the world. Fintechs continue to expand by serving underbanked consumers, filling credit gaps and accelerating digital financial inclusion.
The next frontier is infrastructure. McKinsey sees the biggest opportunities in AI-powered financial services, stablecoins, digital identity, data infrastructure and cross-border payment networks, not simply new consumer payment apps.
The market is concentrated. In wealth management and insurance, the top players control nearly all fintech revenue, suggesting future challengers will need to differentiate through new technologies and business models rather than scale alone.
Why it matters: Africa's fintech story is evolving. The first chapter is expanding access to finance. The next may be building the digital infrastructure, from AI to stablecoins, that powers the continent's financial system.
Travel in Africa
Africa's Travel Challenge
Source: Bloomberg
This is a hot topic of mine, but I haven’t covered it in a while. This article in Bloomberg provides great context. Africa has built world-class airports and a global aviation leader in Ethiopian Airlines. Yet flying within the continent remains among the world's most expensive and frustrating travel experiences. Africa is home to nearly 20% of the world's population but accounts for just 2% of global air traffic.
Why it matters: Better air connectivity is about more than tourism. It's essential for trade, investment and regional integration. Full implementation of the Single African Air Transport Market could cut fares by up to 35% and increase passenger traffic by more than 50%, helping unlock the promise of the African Continental Free Trade Area.
Health in Africa
Africa's Youth Advantage
Source: Visual Capitalist
Not new info, for you all, but I liked the graphic. Visual Capitalist created it with World Bank data. While Europe and Japan grapple with aging populations, Africa remains the world's youngest continent. Monaco tops the global rankings with 36% of its population over 65, while Japan is nearing 30%. Many African countries, by contrast, have median ages under 20.
Why it matters: As wealthy economies struggle with shrinking workforces and rising pension costs, Africa's young population could become one of its greatest economic assets, if the continent creates enough jobs, skills and opportunities to harness it.
Explorations in Africa
The Cave of Women
Source: National Geographic
Scientists studying 20 Homo naledi skeletons from South Africa's Rising Star Cave made a surprising discovery: every individual appears to have been biologically female. Using a new protein analysis of tooth enamel, researchers found no evidence of Y chromosomes, overturning years of assumptions about the site.
Why it matters: If confirmed, it could reshape our understanding of early human relatives. The finding hints that Homo naledi may have deliberately treated female dead differently, suggesting social or symbolic behavior once thought unique to modern humans.
For those in the U.S. celebrating, happy 250 years to the United States of America this weekend! Thanks for reading. Be sure to visit our Calendar of Events page to see relevant events across the continent. And as always, email us at [email protected].
