By the AFREEQUE newsroom, based on Financial Afrik
The World Bank announced $123.5 billion in financial commitments for 2026, with sub-Saharan Africa presented as the main beneficiary. The institution’s president, Ajay Banga, was associated with the announcement reported by Financial Afrik.
Trade between Algeria and Russia rose by 20% in the first nine months of 2026, according to Russian ambassador Alexei Solomatin. Bilateral trade could reach $3.84 billion this year and $10 billion by 2030, according to Russia’s Pivot to Asia.
🇩🇿 Algeria · Source: Algérie Eco ·
Egypt has signed a $1 billion financing agreement with the World Bank for the second phase of its Development Policy Financing programme. The funding is intended to support economic reforms, private investment and the green transition, according to the Egyptian government.
🇪🇬 Egypt · Source: Daily News Egypt ·
Nnanyelugo Ike-Muonso, director of Nigeria’s Raw Materials Research and Development Council, has been elected Sub-Saharan Africa’s representative on the board of the global association WAITRO. The vote took place at the organisation’s summit in Istanbul, Turkey, from 26 to 28 October 2026, Tribune Online reports.
🇳🇬 Nigeria · Source: Tribune Online ·
Global prices for basic food products are expected to rise by 10% in 2026 and then 7% in 2027, for a cumulative increase of 18%, according to World Bank forecasts published on 28 October. The report links the rise to disruptions to grain supplies, El Niño risks and higher fuel and fertiliser prices.
🌍 World · Source: AIP ·
Trump threatens Iran with a ‘hammer blow’ at Iowa rallyDonald Trump threatened Iran on Sunday with a “hammer blow”, saying he was not yet finished with the country. The US president was speaking at a rally in Iowa, two days before the midterm elections, according to AFP.
South Africa allocates 10 billion rand to cut fuel leviesThe South African government is allocating 10 billion rand for a temporary reduction in fuel levies despite rising global prices. From 4 November to 1 December, the diesel levy will be cut by 3 rand per litre and the petrol levy by 1.50 rand, according to Business Day.The week in Africa
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