Nigeria’s Energy Transformation: Market Competition Drives Policy Shift
5th November 2025 Nigeria is signalling its willingness to sell state-owned refineries as the government seeks to stimulate competition in the downstream sector—marking a notable shift in the country’s broader energy strategy. The development follows President Tinubu’s approval of a 15% import duty on refined petroleum products, aimed at safeguarding recent multi-billion-dollar investments in domestic refining. The Dangote Refinery now reports production of more than 45 million litres of petrol and 25 million litres of diesel per day, surpassing Nigeria’s internal consumption requirements. A Strategic CrossroadsThe Nigerian National Petroleum Company’s four state-owned refineries—despite a combined capacity of 445,000 barrels per day—have processed virtually no crude for decades, even after billions were allocated for repairs. Key stakeholders, including the Manufacturers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association, are calling for full privatisation to enhance efficiency and reduce recurrent government expenditure. Critics argue that the state-owned facilities remain “a pure drain on the Nigerian economy”, stressing that private management would curb corruption, ensure accountability, and foster healthy competition with the Dangote operation. The Monopoly DebateFuel traders caution that, if mismanaged, the new tariff regime could stifle fuel imports and create a de facto refining monopoly—potentially exposing Nigeria to fresh rounds of fuel scarcity. Policymakers therefore face the delicate task of protecting domestic refiners while preserving competitive dynamics in the market. For Gapuma Group, which operates extensively across West Africa’s energy landscape, this policy shift highlights the scale and speed of transformation within Nigeria’s downstream sector—presenting both opportunities and complexities for regional fuel trading and logistics. The outcome of Nigeria’s privatisation debate will shape energy flows across West Africa for generations.
Strengthening Our Biofuels Vision
— Introducing Charles Percheron 4th November 2025 Gapuma is delighted to announce that Charles Percheron has joined our Switzerland office in Nyon as Senior Biodiesel Trader. Charles will play a central role in expanding Gapuma’s global biofuels footprint, strengthening our position in biodiesel and sustainable feedstocks. With more than fourteen years’ experience across physical and derivative commodity trading, brokerage, and operations, he brings an outstanding track record of performance, innovation, and market insight. Based in Nyon, Charles combines a deep understanding of biodiesel markets with a sophisticated, multi-layered approach to business development and a passion for data-driven, forward-looking trading strategies. His appointment reinforces our strategic commitment to the energy transition and to scaling sustainable commodities across international supply chains. As we continue to invest in future-focused fuels, we look forward to accelerating global progress in sustainability and low-carbon logistics. Please join us in welcoming Charles to the Gapuma family and wishing him every success in this exciting new chapter.
Polymer Powerhouse: Mihael Nahmias Joins Gapuma
31st October 2025 Gapuma is delighted to welcome Mihael Nahmias as our new Head of Polymers — a pivotal appointment as we accelerate our growth in this dynamic and strategically important sector. Mihael brings extensive industry expertise, commercial acumen, and a forward-looking perspective on global polymer markets. His leadership will be central to strengthening our presence, deepening partnerships, and championing innovation across the value chain. At Gapuma, we recognise that the future of polymers must be responsible, sustainable, and grounded in meaningful action. We continue to invest in cleaner, greener, and more efficient material solutions, supporting circular-economy principles and reducing environmental impact through rigorous sourcing standards and global operational practice. With Mihael joining the Group, our ambitions in the polymers space have never been stronger. We look forward to achieving significant progress together — for our clients, our partners, and our planet. Please join us in welcoming Mihael to the Gapuma family.
Tesla’s Profit Slide Highlights Mounting Pressures on Global Manufacturing
23rd October 2025 Tesla has reported record quarterly revenues of almost $28 billion for the three months to the end of September, yet profits fell by more than a third — a stark illustration of the financial pressures now bearing down on global manufacturers. The company cited higher tariffs on imported components and raw materials, increased logistics and energy costs, and substantial investment in research and development, particularly in artificial intelligence. Although demand remained strong, helped by a final wave of buyers seeking to claim expiring US electric vehicle tax credits, these gains were eclipsed by rapidly rising operating expenses. The strain facing Tesla is emblematic of a broader challenge across heavy industry. Manufacturers continue to contend with post-pandemic bottlenecks, volatile freight rates, inflation in energy and labour markets, and ongoing geopolitical uncertainty. Shifting trade policies have prompted many companies to rethink their sourcing models, often prioritising resilience over efficiency. Volume alone is no longer a guarantee of profitability. In an era defined by fragile supply chains and heightened cost pressures, success increasingly hinges on strategic procurement, agile logistics management, and a diversified supplier network. For Gapuma and its global partners in the industrial and chemical sectors, Tesla’s experience underscores the importance of reinforcing resilience at every stage of the value chain. The ability to anticipate disruption, optimise sourcing, and contain input costs has become essential to maintaining competitiveness in today’s unpredictable marketplace.
Côte d’Ivoire at the Polls: Stability or Stagnation?
21st October 2025 As Côte d’Ivoire approaches a decisive presidential election, the stakes for regional trade and investment are considerable. President Alassane Ouattara’s bid for a fourth term — unprecedented and heavily contested — has heightened political tensions in a country long regarded as West Africa’s model of post-conflict stability. For investors and commodities traders, Côte d’Ivoire represents far more than electoral drama. It is a critical hub in global supply chains: the world’s leading cocoa producer, a major source of cashews, and an increasingly influential player in hydrocarbons and fertiliser imports. Continuity in governance may offer short-term predictability, yet underlying institutional fatigue and democratic strain have the potential to challenge that stability, dampen long-term investment appetite, and raise borrowing costs across the region. At Gapuma Group, our engagement with African markets is shaped by a clear principle: sustainable commerce relies on political credibility. Côte d’Ivoire’s next chapter will shape not only its democratic future but also the confidence of global markets that depend on its exports.
K Show 2025: Gapuma Seizing the Opportunity Innovation, Collaboration, and Global Partnership
16th October 2025 Every three years, K Show Düsseldorf brings the global plastics and rubber industry together under one roof, showcasing the ideas and technologies shaping the future of sustainable manufacturing. This year, Gapuma was represented by Purchasing Director Russell Brill, who joined thousands of international delegates to engage with long-standing suppliers and emerging innovators. His meetings reinforced Gapuma’s commitment to resilient, forward-looking partnerships grounded in trust, quality, and shared growth. For Gapuma, K Show is far more than an exhibition. It is an essential forum for exchanging insight, exploring new innovations, and strengthening the collaborative spirit that underpins our global supply chain. We extend our thanks to all partners and colleagues for their hospitality, inspiration, and continued confidence. Together, we remain focused on driving progress and sustainability across the industry.
Gapuma Explores New Opportunities in Sierra Leone
14 October 2025 On Monday, 13th October, Yanish Bhageerutty, Business Development Manager at Gapuma Group, attended the Sierra Leone Investment Forum, hosted in London by Herbert Smith Freehills Kramer LLP. Sierra Leone is actively reshaping its economic landscape — strengthening regulatory frameworks, deepening institutional capacity, and positioning itself as an increasingly attractive destination for both domestic and international investment. These reforms are laying the foundations for sustainable, long-term growth across a spectrum of high-potential sectors. Organised by British International Investment (BII) in partnership with the Government of Sierra Leone, the Forum showcased a suite of investment-ready projects and highlighted emerging opportunities in agriculture, manufacturing, financial services, energy, infrastructure, and tourism. The event received support from ARIA, the British High Commission Freetown, Invest Africa, Invest Salone, Herbert Smith Freehills Kramer LLP, and the National Investment Board of Sierra Leone. Framed under the theme “Ready for Investment, Open for Partnership,” the Forum convened senior representatives from the governments of Sierra Leone and the United Kingdom, development finance institutions, and leading private sector investors. Participants exchanged insights, explored successful case studies, and identified pathways for deeper collaboration within Sierra Leone’s evolving and increasingly dynamic investment environment.
China’s Gold Play: Behind the $4,000 Surge?
8th October 2025 Gold’s rise beyond $4,000 an ounce marks more than a historic price point — it highlights a deeper shift in the balance of global monetary power. China’s central bank has undertaken an exceptional run of gold purchases over the past year, increasing its holdings at a pace unmatched by its other foreign exchange activities. Yet gold still represents only around 6.7 per cent of China’s immense reserves. By comparison, the United States — the world’s largest holder of gold — maintains nearly 80 per cent of its reserves in bullion, with a stockpile almost four times larger than China’s. This disparity is significant. For Beijing, accelerating its gold acquisitions is not merely an exercise in diversification. It forms part of a broader strategy: to reduce its exposure to the dollar and strengthen its position in an international system long shaped by American financial dominance. With foreign exchange reserves almost three times greater than Japan’s — the world’s second-largest — and roughly eleven times greater than America’s own reserves, China has both the scale and the strategic intent to alter the global financial equilibrium. Gold’s ascent past $4,000 therefore extends beyond traditional concerns such as inflation hedging or interest rate expectations. It reflects a wider contest centred on currency power, credibility, and the architecture of global finance itself.
Starmer Bets Big on India: Mission to Double Bilateral Trade by 2030
AP-POOL photo by Kin-Cheung 7th October 2025 As Prime Minister Keir Starmer embarks on his first official visit to India (8–9 October), the scale and ambition of the delegation send a clear message: the United Kingdom now views India as a central pillar of its long-term trade strategy. The recently concluded UK–India Comprehensive Economic and Trade Agreement (CETA) represents a decisive turning point. More than a conventional trade deal, it signals a strategic shift — cutting tariffs on over 90 per cent of goods and widening market access across both goods and services. Negotiators on both sides are already focused on an even greater objective: doubling bilateral trade by 2030. To put this in context, trade in goods and services in the year to March 2025 was valued at approximately £44.1 billion. Doubling that figure would push the relationship towards, or beyond, £88 billion — a striking illustration of the shared ambition now driving both nations. The breadth of the delegation accompanying the Prime Minister underscores the significance of the mission. More than one hundred business leaders, university vice-chancellors, and figures from technology, culture, and innovation are travelling to India. This is a working visit, not a symbolic tour — designed to secure agreements, strengthen partnerships, and build the foundations for deep, long-term economic engagement. It reflects a marked shift in mindset: India is no longer treated as a secondary market but as a cornerstone of the UK’s future growth strategy. Symbolism will play its part when Starmer meets Prime Minister Narendra Modi in Mumbai — India’s financial powerhouse and a city emblematic of the country’s dynamism and scale. Choosing Mumbai for such a meeting highlights the central role that commerce, investment, and economic cooperation will play in the evolving partnership. The timing of the visit could hardly be more pertinent. India is on track to become the world’s third-largest economy, with growth exceeding 6 per cent annually and forecast to reach as high as 8 per cent this year. Its economic momentum, demographic strength, and expanding global influence ensure it will shape the international landscape in the decades ahead. For the UK, forging a position within that story is both strategic and forward-looking. This visit is therefore about more than agreements or diplomatic ceremony. It is about signalling intent, building momentum, and recognising that the UK’s economic future will increasingly align with India’s rise on the global stage.
From Plastic Waste to Elastic Asset
2nd October 2025 New scientific breakthroughs are revealing how waste can be re-engineered into high-value resources — reshaping both supply chains and the wider sustainability landscape. Researchers at the University of Edinburgh have demonstrated how waste plastic can be transformed into something as commonplace as paracetamol, using genetically engineered microbes. At the centre of this process is E. coli: once known primarily as a gut bacterium, now reimagined as a versatile industrial platform capable of producing insulin, flavours, fuels, and a growing list of essential commodities. For us at Gapuma, this breakthrough represents far more than a laboratory milestone. It signals the direction of travel for global supply chains. If waste can be converted into feedstock, then the long-standing challenge of environmental disposal becomes an opportunity — turning waste into a resource rather than a burden. This shift has profound implications for commodity markets. It is not about replacing raw materials overnight, but about preparing for a future in which sustainability, efficiency, and resilience are fundamentally interconnected. This is ESG in action: innovation that lightens the environmental footprint while strengthening the availability of products the world depends on.
US Shutdown Begins: Gold Glitters and Sugar Holds
1st October 2025 With the U.S. government shutdown unsettling global markets, gold has surged to unprecedented levels while cryptocurrencies remain largely unaffected. As reported by DailyCoin, gold futures have broken above $3,900 per ounce for the first time in history, driven by investors seeking the safety of traditional hedges. At the same time, sugar prices are holding steady, supported by a weaker dollar and firm international demand. For Gapuma, these developments reinforce a familiar reality: in periods of uncertainty, real assets retain their appeal. Our business operates at the intersection of these macro-economic forces — from metals to soft commodities — where value is dictated not only by market sentiment but also by geopolitics, currency movements, and shifts in consumer behaviour. The message is straightforward. Confidence still gravitates towards tangible assets, and agility in supply, sourcing, and trading strategies remains the key competitive advantage.