Business
Competition can help reduce food prices- unctad
Un trade and development says that competition can help reduce the costs of agricultural inputs like fertilizers and seeds, making food more affordable.
This is disclosed by Teresa Moreira, head of UN Trade and Development’s competition and consumer protection branch
“When companies and farms compete, they strive to improve their techniques, resulting in higher quality products with more variety, sustainable practices, higher yields and lower costs that can increase aggregate surplus across each value chain,” said Ms Moreira.
She added that competition can also help reduce the costs of agricultural inputs like fertilizers and seeds, making food more affordable.
Competition authorities in action
Competition law and policy can redress market power abuse and unfair trade practices.
In Austria, for example, the federal competition authority (AFCA) launched investigations into vertical price fixing in the food sector, where powerful retailers attempted to control resale prices, harming small and medium-sized producers.
Following around 50 unannounced inspections, known as “dawn raids”, the AFCA concluded 27 cases, resulting in nearly €70 million in fines. The authority also devised guidelines on resale price maintenance in 2022.
In Kenya, the competition authority (CAK) recently found that a large supermarket chain had abused its buyer power over suppliers, leading to fines and required amendments to contract clauses that facilitated such abuse.
Similarly, in South Africa, the competition authority settled a cartel case involving margarine and edible oils, issuing fines against companies involved.
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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