The Six

Mombasa vs Dar es Salaam vs Lobito: The Race for Inland Africa's Cargo

BEJ Media — Mon, 09 Nov 2026 05:04:30 -0800

Mombasa moved a record 45.45 million tonnes in 2025, including 15.88 million tonnes of transit cargo for inland countries. Dar es Salaam's transit cargo rose 17% to 14.61 million tonnes, and on the Atlantic, backers have committed $1.3 billion to a rail line from Zambia's Copperbelt to Lobito. This episode follows the three corridors competing for East and Central Africa's trade.

What we cover

Mombasa handled a record 45.45 million tonnes in 2025, up 10.9%, with transit cargo up 19.5% to 15.88 million tonnes (Kenya Ports Authority). Uganda accounts for more than 65% of that transit, about 10.91 million tonnes.
Kenya broke ground on the 475 km Naivasha–Malaba standard gauge extension in March 2026 and began construction in July; Uganda's 273 km Malaba–Kampala line, priced at €2.7 billion, is due in 2028 (The Star).
Dar es Salaam handled 33.71 million tonnes in FY2025/26, up 21.5%; transit rose 17% to 14.61 million tonnes, with DR Congo at 7.77 million tonnes, Zambia 3.41 million and Rwanda 2.18 million (Daily News, Tanzania).
Kenya's State Department for EAC estimates the country loses 5–8% of high-value transit cargo a year, mainly to Dar es Salaam (The Star, June 2026).
Lobito Atlantic Railway closed $753 million of loans in December 2025 (U.S. DFC $553m, DBSA $200m) to lift capacity to 4.6 million tonnes a year; the new Zambia line, costed at up to $5 billion, has $1.3 billion committed and targets completion in 2030.

Chapters
(0:00) Cold open
(0:22) The map
(0:43) Mombasa
(1:43) Dar es salaam
(2:46) Lobito
(4:01) What to watch
(4:33) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

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Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

AfCFTA After Five Years: 50 Ratifications, 26 Tariff Schedules, $214bn of Trade

BEJ Media — Sun, 08 Nov 2026 05:03:43 -0800

Trading under the African Continental Free Trade Area began on Jan. 1, 2021. Fifty countries have ratified and the rules of origin are now fully agreed, but only 26 have gazetted their tariff schedules. This episode looks at what has changed for traders, and what has not.

What we cover

54 of 55 AU members have signed the AfCFTA and 50 have ratified, Somalia most recently on Sept. 4, 2026; Benin, Libya, South Sudan and Sudan have not ratified (tralac, Sept. 2026).
By end-June 2026, 50 tariff schedules had been submitted, 48 verified and 26 gazetted. Rules of origin were 100% agreed after autos, clothing and textiles were adopted in February 2026.
More than 12,000 AfCFTA certificates of origin had been issued and notified to the Secretariat by March 2026 (AfCFTA Secretariat). Namibia had issued nine, its trade minister said in May 2026.
Intra-African trade was about $213.8 billion in 2025, up 5.5%, against about $1.5 trillion of total African merchandise trade (Afreximbank, African Trade Report 2026).
PAPSS now covers 28 countries, with 18 central banks and more than 190 commercial banks and fintechs; CEMAC banks are due to connect by the end of 2026 (Ecofin, July 2026).

Chapters
(0:00) Cold open
(0:24) The deal
(0:55) The tariffs
(1:41) The first shipments
(2:19) The trade
(2:54) The plumbing
(3:30) What to watch
(4:01) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

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Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

Africa's $124 Billion in Remittances: Who Receives It and What It Costs to Send

BEJ Media — Sat, 07 Nov 2026 05:04:23 -0800

Migrants and the diaspora sent an estimated $124.2 billion home to Africa in 2025, almost twice the continent's foreign direct investment. This episode looks at where the money goes, why Sub-Saharan Africa is the most expensive region to send to, and the new U.S. tax on cash-funded transfers.

What we cover

Remittances to Africa reached an estimated $124.2 billion in 2025, up 86% since 2016 (IFAD, Sending Money Home 2026). FDI into Africa was about $70 billion (UNCTAD).
Egypt ($41.5bn), Nigeria ($22.8bn), Morocco ($13.7bn), Ethiopia ($7.1bn) and Kenya ($5.0bn) received about 73% of the total. Egypt's central bank reports a record $47.3bn for the year to June 2026.
Remittances equal about a fifth of GDP in The Gambia, Liberia, Comoros and Lesotho (IFAD).
Sending $200 to Sub-Saharan Africa cost 8.46% on average in Q3 2025, against a 6.36% global average and a UN target under 3% (World Bank). Fully digital services averaged about 4.6%, cash-based ones 7.3% (IFAD).
Since Jan. 1, 2026 the U.S. taxes cash-, money order- and cashier's check-funded remittances at 1%; IRS rules are still at the proposed stage.

Chapters
(0:00) Cold open
(0:21) The flow
(0:56) Where it goes
(1:31) The cost
(2:25) What it pays for
(2:52) The new toll
(3:16) What to watch
(3:50) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Reach Black founders, investors and executives: advertise with The Black Executive Journal: www.blackexecutivebrief.com/advertise

Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

DR Congo's Battery Metals: Cobalt Quotas, Copper and a Price Halved Since April

BEJ Media — Fri, 06 Nov 2026 05:06:02 -0800

DR Congo mined about 74% of the world's cobalt in 2025 and is now the second-largest copper producer. This episode looks at how Kinshasa is using export bans and quotas to control how much leaves the country, what that did to prices, and who buys.

What we cover

DR Congo mined an estimated 230,000 tonnes of cobalt in 2025, about 74% of the world's 310,000, and holds half of known reserves (USGS, 2026).
It mined an estimated 3.2 million tonnes of copper in 2025, second only to Chile's 5.3 million (USGS, 2026).
After a cobalt export ban from February to October 2025, quotas cap exports at up to 96,600 tonnes a year in 2026 and 2027, including a 9,600-tonne strategic reserve. An order dated June 29, 2026 bans copper and cobalt concentrate exports.
Cobalt hydroxide rose from $5.90 to $25.25 a pound in 2025 (Benchmark), peaked near $26 in April 2026, and was assessed at $13–14 on Oct. 27 (Fastmarkets).
China produced 79% of the world's refined cobalt in 2025. This week Congo ordered a fraud and smuggling inquiry after seizing more than 500 trucks and thousands of tonnes of copper and cobalt.

Chapters
(0:00) Cold open
(0:24) The ground
(0:59) The lever
(1:43) The price
(2:32) The buyers
(3:09) The leakage
(3:27) What to watch
(4:00) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Have news to share? Distribute your press release on the BEJ Newswire: www.blackexecutivebrief.com/bej-newswire-press-release

Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

Morocco's Bet on Africa: Phosphate, Banks, Ports and the Nigeria Gas Pipeline

BEJ Media — Thu, 05 Nov 2026 05:05:50 -0800

Morocco holds about two-thirds of the world's phosphate rock reserves, and its banks now operate in 27 African countries. This episode looks at Morocco's business ties across the continent since it rejoined the African Union in 2017: phosphate, banking, ports, and a planned gas pipeline from Nigeria.

What we cover

Morocco holds 50 billion tonnes of phosphate rock reserves, about 68% of the world's 73 billion, and mined an estimated 36 million tonnes in 2025, second only to China (USGS, 2026).
Moroccan banking groups operate in 27 African countries; 1,520 of their 1,659 branches abroad are in Africa. For the three pan-African groups, Africa outside Morocco was 22% of assets and 31% of net profit in 2025 (Bank Al-Maghrib, July 2026).
OCP Group's 2025 revenue rose 17.5% to MAD 113.9 billion (about US$11.4 billion); net income fell 13% on higher taxes.
Tanger Med handled 11.1 million TEU in 2025, up 8.4%. Works on the Dakhla Atlantique port passed 74% at end-September 2026, with completion planned for end-2028.
ECOWAS leaders signed the Nigeria–Morocco gas pipeline agreement on July 19, 2026: up to 30 bcm a year, cost estimates of $25–27 billion, first gas targeted for 2031. No final investment decision yet.

Chapters
(0:00) Cold open
(0:21) The return
(0:43) The banks
(1:28) The phosphate
(2:02) The ports
(2:49) The pipeline
(3:10) What to watch
(3:48) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

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Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

M-Pesa and Mobile Money: How East Africa Moved $806 Billion in 2025

BEJ Media — Wed, 04 Nov 2026 07:17:15 -0800

East Africa moved $806 billion through mobile money in 2025, more than half of sub-Saharan Africa's total. This episode traces how M-Pesa launched in Kenya on a central bank's letter of no objection, how big it has become, who owns it, and the new payments bill that would rewrite the rules.

What we cover

Mobile money transactions in East Africa reached $806 billion in 2025, out of $1.4 trillion in sub-Saharan Africa and more than $2 trillion worldwide (GSMA, March 2026).
Kenya had about 54 million active mobile money subscriptions in June 2026; M-Pesa held 88.8% and Airtel Money 11.1% (Communications Authority of Kenya).
In the year to March 2026, M-Pesa handled 46.4 billion transactions worth KES 41.7 trillion (about US$322 billion) and earned KES 182.7 billion, 45.6% of Safaricom Kenya's service revenue. Fuliza lent KES 1.47 trillion.
Vodacom completed the purchase of the Kenyan government's 15% Safaricom stake on June 30, 2026, taking its holding to 55%; the state kept 20%.
Kenya's draft National Payment System Bill, 2026 would let the central bank order interoperability, require consent-based data sharing and appoint statutory managers. Comments closed Oct. 9.

Chapters
(0:00) Cold open
(0:23) The letter
(1:01) The scale
(1:37) The business
(2:23) The region
(2:46) The rules
(3:07) The new bill
(3:26) What to watch
(4:10) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Partner with us: become a BEJ sponsor: www.blackexecutivebrief.com/sponsors

Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

The JSE: Africa's $1.5 Trillion Stock Market and Its Shrinking List

BEJ Media — Tue, 03 Nov 2026 06:59:11 -0800

The Johannesburg Stock Exchange is worth more than thirteen times Nigeria's exchange, the next largest in Africa, yet it lists fewer companies every year. By one count, thirteen companies are leaving in 2026 and two have joined. This episode explains where the value comes from, why companies delist, and what the JSE and its rivals are doing about it.

What we cover

Companies listed on the JSE were worth about US$1.55 trillion in August 2026, more than 13 times Nigeria's exchange (World Federation of Exchanges).
About 68% of that value, roughly R16 trillion of R24.7 trillion, sits in 59 inward listings whose main listing is elsewhere (JSE, June 2026).
257 companies were listed in August 2026, down 6.9% in a year. A UCT study counts 514 delistings since 1989 and a 7.8% annual delisting rate in 1993–2015, against 4.1% globally.
AmaranthCX counts 195 JSE delistings and 71 new listings since 2017; 2026's only two arrivals were secondary listings (Aimia and Canal+).
The JSE's simplified Listings Requirements took effect in January and February 2026, cutting the rulebook by more than half. Omnia's shareholders vote on a R21.8 billion offer from Solar Industries on Nov. 5.

Chapters
(0:00) Cold open
(0:25) The gold rush
(0:42) The scale
(1:16) The shrinking list
(1:54) Why they leave
(2:32) Who arrives
(2:52) The response
(3:21) The rivals
(3:42) What to watch
(4:22) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Shop The Black Executive Journal: shop.blackexecutivebrief.com

Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

The CFA Franc: 14 African Countries, One Euro Peg, and the Eco Plan

BEJ Media — Mon, 02 Nov 2026 08:35:31 -0800

Fourteen African countries use a currency fixed at 655.957 to the euro since 1999, backed by a French Treasury guarantee. A 2019 reform ended West Africa's reserve deposits in Paris, but the peg, the guarantee and the name are unchanged. This episode explains how the two CFA francs work, what the reform did, and where the eco stands.

What we cover

Two currencies: the West African CFA franc (8 WAEMU countries, BCEAO) and the Central African CFA franc (6 CEMAC countries, BEAC), both fixed at €1 = 655.957.
The December 2019 reform closed the BCEAO's operations account at the French Treasury and removed France from its governing bodies. The euro peg and French guarantee remain, and the rename to the eco has not happened.
Mali, Burkina Faso and Niger left ECOWAS in January 2025 but remain in the West African monetary union and still use the CFA franc.
ECOWAS reaffirmed a 2027 launch of its own eco on July 19, 2026, starting with countries that meet convergence criteria.
The BRVM, the eight-country exchange in Abidjan, was worth almost 21 trillion CFA francs on Nov. 2, 2026, up from about 13.3 trillion at the end of 2025.

Chapters
(0:00) Cold open
(0:24) Two currencies
(0:46) The peg
(1:19) The bargain
(2:08) The reform
(2:45) The split
(3:32) The market
(3:53) What to watch
(4:29) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Reach Black founders, investors and executives: advertise with The Black Executive Journal: www.blackexecutivebrief.com/advertise

Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.

Why West Africa Is Offering Citizenship to the African Diaspora

BEJ Media — Mon, 02 Nov 2026 08:35:07 -0800

Since 2016, Ghana, Sierra Leone, Benin and Guinea-Bissau have granted at least 1,213 citizenships to descendants of enslaved Africans. Each country wrote different rules, and those rules are deciding which programs last. This episode traces how the African Union's Sixth Region went from a 2003 charter amendment to a passport.

What we cover

Ghana (834 grants) acts by executive decision. It suspended its process in February 2026 after adding a DNA rule and a tenfold fee increase, then reinstated it without the DNA test.
Benin is the only country with a dedicated law (No. 2024-31). Nationality through it does not include the right to vote or run for office.
Sierra Leone verifies ancestry by DNA test and offers a $100,000 investment route for people of African heritage.
Guinea-Bissau grants citizenship by decree to descendants of specific ethnic groups. Its process is paused amid political instability, with a general election set for December 6.

Chapters
(0:00) Cold open
(0:22) The idea
(0:59) The paperwork
(1:26) Four models
(2:21) Why now
(2:56) The fault lines
(3:41) What to watch
(4:20) The bottom line

Data and policy tracker: six.blackexecutivebrief.com
Watch the video edition on YouTube: The Black Executive Journal.

Have news to share? Distribute your press release on the BEJ Newswire: www.blackexecutivebrief.com/bej-newswire-press-release

Sources

The Six is a Black Executive Journal series explaining the forces shaping the African Union's five regions and its Sixth Region, the global diaspora.