South Africa Municipal Finance Crackdown: National Treasury withheld R13.5bn from 69 municipalities, including Johannesburg, after “wasteful spending” concerns, with funds to be released only if cities submit credible debt-payment plans and cut irregular spending. Rand and Risk Sentiment: The South African rand slid to a one-week low after Trump said an interim Iran peace deal was “over,” pressuring emerging-market currencies. Kenya Refining Push: Dangote plans to finance a 700,000 bbl/d Kenya refinery via an IPO/bonds, aiming to cut East Africa’s fuel import dependence. GCC Project Momentum: GCC project awards rose 30% in Q2 to $59.4bn, led by Saudi and Oman, despite softer activity elsewhere. Banking Competition in SA: FirstRand lost its Supreme Court of Appeal bid to block Abu Dhabi Bank from registering trademarks tied to its South Africa expansion. Mobile Money Expansion (Togo): Moov Africa Togo rolled out “Soyi Mavo,” adding insurance, gift cards and digital withdrawal features to deepen mobile money growth. Gold Market Signals: World Gold Council data showed gold ETF outflows in June but positive first-half holdings, reflecting shifting expectations on US rates. Governance and Openness (Senegal): Civil society urged Senegal’s parliament to boost transparency and public participation, citing a low ranking in an open parliament index. Africa Research Coverage: Afrobarometer began Round 11 surveys, targeting up to 40 countries to track citizen views on democracy and governance.