GOOD MORNING CHOP FAMILY!
Friday eve is here, time to check out, start thinking about the weekend, so those emails can wait, that TPS report… forget about it! But before you completely zone out, check out what’s going on in the Mother Land and beyond:
- The war is back on in the Middle East.
- Oil spikes.
- Egypt opened a 3400 year old tomb.
- World Cup Fever
"A canoe does not move forward when everyone is paddling in their own direction."
The cease-fire is over. That is what Trump has proclaimed. This came after Iran struck vessels that were trying to navigate through the Strait of Hormuz. The U.S. retaliated of course with strikes of their own. So we are back at war, but apparently peace talks are still ongoing. What kind of mess is this?
Meanwhile, as you could expect, oil prices shot up, and fears of a global recession have been stirred up again. Just when we thought we had a reprieve from the war and inflation, it is back in full effect. Don’t you love this rollercoaster ride?
MARKET MOTION
BUSINESS
The $753 Million Lobito Railway Lock
The single most foundational infrastructure play on the continent just cleared its final hurdle. The Africa Finance Corporation (AFC) officially achieved financial close on the landmark $753 million Lobito Corridor Railway Project in Angola.
This move is a massive cross-border integration play designed to completely bypass old, congested transport bottlenecks. By locking down this multi-million dollar financing facility, the project will permanently connect the mining heartlands of the Democratic Republic of Congo and Zambia directly to global maritime shipping routes via the Atlantic port of Lobito.
It stands as one of the most significant cross-border transport infrastructure transactions in recent African history, proving that when local capital structures step up, critical supply chains can look inward to scale.
But funding is just the start. The real test will be cross border cooperation, policy deals, and of course the African curse - maintenance (or lack their of). What also remains to be seen, is if these deals and trade agreements, actually help the people on the ground and not just the greedy politicians and deal makers - I am not holding my breath.
Switching from rail to the air…
Air Peace Pulls Off the Continent's Biggest Capacity Leap
While international legacy carriers tweak their routes, West Africa's leading private airline is executing a textbook scale-up. According to OAG’s freshly dropped aviation market report, Air Peace recorded Africa's single largest increase in scheduled airline seats.
The carrier has been methodically soaking up underserved regional corridors and adding heavy capacity to international routes. For corporate travelers and logistics firms watching regional trade velocity, this rapid capacity expansion is a major win.
It proves that despite volatile local currency landscapes and fluctuating jet fuel overheads, local aviation players can capture the massive, pent-up demand for cross-border mobility across the continent.
FINANCE
So Much for Cheap Oil: Brent Spikes 5% to $78 as US-Iran Tensions Reignite.
Two weeks ago, the entire oil conversation was about a glut. Prices were sliding, OPEC+ was pumping, Middle Eastern supply was flowing, and African fuel importers were quietly enjoying the cheapest diesel in months. Everyone relax, the analysts said. And then, as it tends to, the Strait of Hormuz reminded everyone who's actually in charge.
Brent crude jumped roughly 5% to $78 a barrel on Wednesday after Washington revoked a waiver that had allowed Iran to sell crude, following a fresh round of attacks on vessels transiting Hormuz, including a Qatari LNG carrier and a Saudi oil tanker. Tehran said it had targeted 85 US military sites in Bahrain and Kuwait. Suddenly the glut narrative looks very last-month, and the war-premium narrative is back with a vengeance.
Quick Bites
The Eurobond Return: The Africa Finance Corporation demonstrated heavy institutional muscle by successfully raising $500 million via a 5-year Eurobond, pulling in record-tight pricing and direct participation from global central banks.
The West African Energy Play: The AFC finalized the financial close for funding what will become Burkina Faso's largest power plant, a massive structural step forward in narrowing one of the world's widest electricity access gaps.
What Else is Cooking
Egypt Just Reopened a 3,400-Year-Old Pharaoh's Tomb. The Restoration Took Longer Than Some Marriages.
While Egypt's footballers were busy breaking hearts at the World Cup, the country quietly pulled off something with a much longer shelf life. Futura-Sciences reports that the tomb of Amenhotep III, one of ancient Egypt's most powerful rulers, has reopened to the public after a restoration that ran, on and off, for more than two decades.
A little context on the man. Amenhotep III took the throne as a teenager and ruled for nearly 38 years, from around 1390 to 1350 BCE, during the absolute golden age of the 18th Dynasty. This is the pharaoh behind the Colossi of Memnon near Luxor, the giant stone guardians tourists still line up to photograph. His reign was the flex era of ancient Egypt, all temples, palaces, and monumental statues. We need another Amenhotep.
WORLD CUP BRACKET - by TDC
Dish of the Day 🥘
Muamba de Galinha. The Angolan masterpiece - this is a slow-cooked, rich chicken stew that relies heavily on raw palm oil paste (muamba), garlic, okra, and fiery gindungo peppers. Cooked until the palm oil builds a thick, deep-orange gravy that coats the meat, it is traditionally served alongside steaming funge—a smooth, comforting cassava flour mash. Please keep your hands and feet away from me while I am eating, you could get hurt!
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