Business
Dangote Expanding Investment To Burundi
Our focus really is investing heavily in the African continent, not anywhere else, and so Burundi is part and parcel of that African region,” Dangote stated…
Africa’s richest man, Aliko Dangote, is in Burundi to explore new investment opportunities and cemented plans to expand the Dangote Group’s presence across the continent.
The visit included high-level talks with President Evariste Ndayishimiye at the presidential palace.
Accompanied by former Nigerian President Olusegun Obasanjo, Dangote described the mission as both diplomatic and economic in scope.
He revealed that two dedicated technical teams—one representing Burundi and the other the Dangote Group—have been constituted to identify priority sectors and develop viable investment projects. “Our focus really is investing heavily in the African continent, not anywhere else, and so Burundi is part and parcel of that African region,” Dangote stated after the meeting.
” Our focus really is investing heavily in the African continent, not anywhere else, and so Burundi is part and parcel of that African region,” Dangote stated after the meeting.
He pointed to strong potential in solid minerals, power generation, agriculture, cement production, and infrastructure development, emphasising that the goal is to build a mutually beneficial partnership that drives shared prosperity.
According to official sources, discussions centered on strategic cooperation in infrastructure, logistics, industrialization, and energy—areas the Burundian government considers essential to its long-term economic transformation.
The engagement aligns with Burundi’s broader ambition to attract large-scale private sector investment and strengthen ties with leading African industrial players.
Observers widely view the engagement as a landmark moment—one that positions Burundi as a credible destination for African mega-investors and integrates the country more firmly into Dangote’s continental expansion strategy.
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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