Africa Signal Check

Every two or three days, the continent priced.

A dated executive briefing on African markets. Each story carries the Kilwa read, the condition that would prove it wrong, and the next dated catalyst — and every pre-registered call is graded in public, misses included.

Latest edition · Executive Briefing · 24 August 2026

Local equity is the new entry fee. Lusaka shows the other way to set terms.

Nigeria's antitrust regulator priced MTN's tower approval at up to 30% local ownership, Dangote offered East African states 30% of Lamu, and Kenya priced Diageo's exit at a KSh15bn reserve. Institutions that write terms keep capital in the room. Zambia sealed six courts on petition day, and the repricing moved from the ballot to the bench.

+21.3%: MTN adjusted HEPS, H1 2026, inside guidance
30%: the weekend's recurring entry fee — MTN tower sell-down, Dangote's Lamu offer
KSh15bn: reserve fund Kenya's CAK demands on the Diageo–Asahi EABL sale

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