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# [AFRICA] 11 November Market Close: AfDB Injects $150M for Kenyan SMEs, Markets Retreat, Gold Near $4,050
- URL: https://businessoi.media/en/afrique-cloture-du-11-novembre-la-bad-injecte-150-m-pour-les-pme-kenyanes-les-marches-reculent-lor-flirte-avec-4-050-en/
- Published: 2026-11-11T13:43:07.000Z
- Updated: 2026-11-11T13:43:07.000Z
- Description: 11 November round-up: the AfDB approves $150M for Equity Bank Kenya, African bourses retreat, gold hits $4,050/oz and Brent holds at $92/barrel.
- Author: Emmanuel TAOCHY
- Tags: Afrique, Kenya, finance, Bourse, Clôture, #en

**11 November 2026** closes on a mixed picture for African markets and the broader economy. From the African Development Bank's latest strategic financing to retreating equity indices and raw materials under pressure, here is the end-of-day summary.

## AfDB mobilises $150 million for Kenyan SMEs

The African Development Bank approved on Wednesday a **$150 million subordinated loan** to Equity Bank Kenya. The institution says the financing should support approximately **9,000 new SME loans** by 2030, with a particular focus on businesses led by women and young people. Equity Bank, one of East Africa's most widespread financial institutions, will use the funds to expand its small and medium enterprise lending capacity — a structurally underfinanced segment across the continent.

## African stock markets close lower

Major African bourses ended the session in the red. South Africa's JSE All Share fell **0.30%**, with the rand trading near **R16.50 to the dollar**. Kenya's NSE All-Share index declined 0.04%, and Nigeria's NGX All-Share Index slipped 0.06%, erasing around ₦93 billion in market capitalisation. These losses reflect global headwinds: international markets are increasingly pricing in a US Federal Reserve rate hike in December, after hawkish Fed commentary and stronger-than-expected US inflation data.

## Commodities: gold and oil under pressure

Gold is hovering near **$4,050 an ounce**, a sign of persistent investor appetite for safe-haven assets in an unsettled geopolitical environment. Brent crude is stabilising around **$92 a barrel**, keeping energy costs at a level that weighs heavily on the region's net importers, including Mauritius, Réunion and Madagascar. Copper, meanwhile, is edging back towards **$6.30 a pound** after weeks of downward pressure. On the corporate front, Dangote Cement, Nigeria's cement giant, has scrapped plans for a secondary listing on the London Stock Exchange, citing «current market conditions» — a decision that reflects growing caution among major African companies about western financial markets.

## Why it matters

The AfDB loan to Equity Bank illustrates a wider trend: development institutions are working to bridge Africa's SME financing gap, estimated at hundreds of billions of dollars. For the Indian Ocean region, copper's stabilisation is good news for Madagascar, whose mining sector is sensitive to metals prices. US rate tensions, on the other hand, are weighing on all emerging-market currencies in the zone — making the Bank of Mauritius's own rate decision this same day all the more strategic.