Breaking News Today - Friday 13 November 2026

Lightrock Africa Growth Fund II draws fresh $15 million commitments from Swedfund and Proparco

Sweden’s Swedfund and France’s Proparco each committed $15 million on 12 November to Lightrock Africa Growth Fund II, a private-equity vehicle managed by Lightrock (backed by Liechtenstein’s LGT Group). The fund is targeting $150–200 million to back 8–12 growth-stage, technology-enabled companies, mainly in Kenya, Nigeria and South Africa, writing $10–20 million cheques for minority stakes with board seats. Focus sectors are financial services, healthcare, energy, education and transport.

Cape Town healthtech Alignd secures undisclosed Knife Capital investment to expand value-based care

Women-led Alignd, founded in 2018 and led by Dr Lungi Nyathi, received an undisclosed early-stage investment from Knife Capital’s Fund III. The Cape Town company designs outcome-based programmes that align incentives between patients, providers and medical schemes, moving away from volume-driven fee-for-service payments. It began in palliative care, now covers more than 3.3 million lives through a network of over 500 providers and partnerships with schemes including GEMS, Fedhealth and Bonitas. The new capital will fund expansion into maternity and kidney-care programmes.

Budget In Ghana Targets Growth and Expansion

Ghana's Finance Minister Cassiel Ato Forson presented the 2027 budget to Parliament yesterday. He set out a domestically funded $10 billion New Economy programme over four years from 2027 to raise output, exports and jobs in commercial agriculture, energy infrastructure, technology, textiles and garments, and critical minerals value addition. The budget projects GDP growth of 5.2% in 2027, up from 4.8% in 2026, a cash-basis fiscal deficit of 3.6% of GDP, and inflation held in a band of 8% plus or minus 2 percentage points

He stated that the government will also invest $1.5 billion in mineral processing under the New Economy programme and will ban raw manganese and bauxite exports by the end of 2030. At least 50% of Ghana’s manganese and bauxite is targeted for local processing by the end of 2028. The plan also includes ending raw artisanal and small-scale gold exports by December 2028 and establishing a 24-hour critical minerals processing enclave in the Western Region.

Mining Production Output Falls in South Africa

Mining production volume fell 10.7% year-on-year in September 2026. This was the fifth straight annual contraction. Iron ore output dropped 23.7% and accounted for 3.4% points of the decline, coal output fell 13.4%, platinum group metals fell by 9.9% and diamonds production reduced by 63.1%. 

Seasonally adjusted production rose 2.8% from August, yet the third quarter ended 6.0% below the second quarter. Mineral sales at current prices fell 4.1% year-on-year. Statistics South Africa confirmed the numbers in its latest release. The release follows a recent GDP revision that raised the measured size of mining by 12.5 % through better coverage of previously unrecorded activity.

Dangote Group's Energy Investment In Africa to Increase 

Aliko Dangote, president and chief executive of Dangote Industries Limited in Nigeria, said on Thursday 12 November, that the group is raising its Africa investment target under Vision 2030 from an earlier $50 billion figure to about $70 billion. He is considering a 10,000-megawatt electricity generation programme across Africa, which could include Nigeria, to reduce reliance on diesel and petrol generators that raise costs for small and medium enterprises. The group currently has nearly 1,500 megawatts of captive capacity and expects that to rise to between 4,500 and 5,000 megawatts by the end of the decade.