Both institutions have had unstable leadership in the last three years. The new appointees have two main goals ahead: rebuild confidence and increase effectiveness.

The president’s list of 19 cabinet ministers chimes with established priorities. Substitutions where they occur are more indicative of changes in politics than policy.

International oil majors have significantly retreated from Nigeria and as such, local firms such as Seplat, FIRST, Heir Holdings and Famfa are first in line to benefit from regulatory clarity.

This will be the 24th licensed bank in the country and the first substantial new entrant since the conclusion of a banking sector sanitisation exercise in 2019.

Nigeria is setting new rules for social media firms. Businesses should brace for continued policy volatility as the Buhari administration exercises its authority.

This is the second significant terrorist attack in a month and is illustrative of a shift in risk away from conventional military/government entities and toward vulnerable civilian targets in the northernmost parts of the country.

Alongside salient political and security risks, Ethiopia’s risk landscape is defined by a more consistent structural reform programme than has been attainable in other frontier markets.

A number of companies are stepping into the supply gap with renewable options. However, macro risks stand between companies and their potential customers.