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While Egypt’s PMI fell into contractionary territory in January, S&P noted that the reading remained higher than the long-run average, indicative of a strong pace of non-oil GDP growth.
Nigerian lawmaker Orji Kalu’s firm, Swiber Africa, has signed a deal with China’s GCL Group, an integrated energy company, to develop multiple energy projects in Nigeria, including hydropower stations and lithium processing facilities.
Egypt is expanding its electricity grid while continuing efforts to curb power theft after authorities recorded electricity losses of 4.6 billion kilowatt-hours (kWh) over the past year.
Dangote Group has expanded gas supply agreements with units of state-owned oil firm, NNPC Limited, as it seeks to secure fuel for refinery and industrial expansion programmes
A Trafigura-backed initiative is preparing to invest more than $1 billion in four carbon removal projects across central and southern Africa as part of a long term plan to restore degraded woodlands.
Libyan Foreign Bank has filed a lawsuit in the United Kingdom High Court seeking to recover more than $100 million from Zimbabwe.
The statistics bureau said the moderation in Kenya’s inflation partly reflected base effects, following relatively higher prices during the same period last year.
While inflation remains close to target and expectations well anchored, policymakers fear a potential hike in food and energy costs could reignite price pressures.
South Africa’s state-owned power utility, Eskom, has slashed electricity tariffs by 35% for two major ferrochrome producers in a move aimed at preventing operational shutdowns.
Mozambique’s president, Daniel Chapo, has hinted that ExxonMobil will restart its $30 billion Rovuma LNG project within the next 12 to 18 months.
Mozambique and TotalEnergies have formally restarted the French major’s $20 billion LNG project, nearly five years after operations were halted.
Benin to expand electricity access in underserved rural communities following the mobilisation of $2.9 million in financing for nine solar-powered mini-grids.
Standard Bank has completed a $250 million financing facility for Nigeria’s oil and gas independent, Aradel Energy Limited, to support its strategic expansion and asset acquisition plans.
Africa’s financial firm, Afreximbank, has secured a $1.75 billion syndicated receivables purchase loan for Sonangol, Angola’s state owned oil company.
The decision, reached at the conclusion of its 128th Monetary Policy Committee meeting on Wednesday, marks the fourth consecutive reduction, following faster-than-expected slowdown in inflationary pressures.
The move comes days after Afreximbank announced it had severed ties with Fitch, citing concerns that the agency’s methodology failed to reflect the bank’s legal mandate, treaty protections, and unique role in financing African trade and development.
The Nigeria government has issued a N501 billion bond under the Presidential Power Sector Debt Reduction Programme (PPSDRP), recording 100% subscription.
Dangote Petroleum Refinery has increased the ex-gantry price of premium motor spirit to N799 per litre following the end of its festive period price support.
Nigeria’s national electricity grid has suffered another system collapse for the second time this month, cutting power supply to all 11 electricity distribution companies (DisCos).
Revego Africa Energy Fund has secured R1 billion ($62 million) in new funding to expand its renewable energy investments in South Africa.
