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The East African nation of Mozambique has rejected any form of negotiation with Portuguese oil company Galp in a capital gains tax dispute linked to the sale of its oil and gas assets.
Some rural dwellers in northern Nigeria in Kaduna have rejected the recent upgrade of their electricity feeder to Band A by Kaduna Electric, citing high tariffs and inadequate consultation.
South Africa’s ambitious 440 billion rand ($25 billion) power transmission expansion program has attracted major global interest including Indian billionaire Gautam Adani’s company and leading Chinese power firms.
Eyob Tekalign, the new governor of the National Bank of Ethiopia (NBE), said in an interview with Bloomberg on Wednesday that the public should expect a turnaround.
South Africa’s fintech market is projected to reach R337.7bn ($19.5bn) over the next five years, posing a growing threat to the country’s established banks, according to TransUnion’s latest South Africa Research Report.
Ethiopia and Russia have signed a new agreement to construct the country’s first nuclear power plant, representing a key step in Ethiopia’s plan to expand and diversify its energy mix.
Ten years after exiting Gabon, American energy giant ExxonMobil has signed a memorandum of understanding to resume oil and gas exploration off the coast of the Central African nation.
The CEO of Renaissance Africa Energy Company Limited, Tony Attah, has called for renewed investment in Nigeria’s energy infrastructure, noting that most of the existing facilities are over 30 years old.
The Nigerian government has pledged to revive the Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, by reconnecting it to the national grid after twenty-six years of inactivity.
The central banks also moved to ease monetary transmission and spur credit growth by lowering the Minimum Reserve Requirement on rupee-denominated deposits from 13% to 10%, effective October 8.
Uganda will secure more than $2 billion in new financing from the World Bank over the next three financial years to support key economic development projects.
British energy giant BP has confirmed a significant gas condensate discovery at the Volans-1X exploration well under Petroleum Exploration License 85 (PEL85) in Namibia’s Orange Basin.
The move comes four months after Ethiopia officially opened its banking industry to foreign investors for the first time in nearly five decades, signaling a cautious but strategic liberalisation of the sector.
South Africa hopes to lift a long-standing ban on shale gas exploration and production in a matter of weeks as soon as new regulations are published this October.
Africa’s largest economy, South Africa, has announced plans to build 5,200 megawatts (MW) of new nuclear power capacity as part of its long-term strategy to secure reliable and cleaner energy.
The Ghanaian government has achieved a major financial breakthrough, saving approximately $300 million through a comprehensive review of legacy contracts by the Electricity Company of Ghana (ECG).
CEO Tilahun Kassahun says the ESX may also deploy an Over-the-Counter platform for firms not yet ready for full listing, describing it as a way to encourage participation.
GoldBod attributed the performance to improved oversight and its continued collaboration between key stakeholders which has helped curb smuggling and boost repatriation of proceeds.
With this latest injection, Wema Bank’s total qualifying capital now stands at ₦264.9bn ($179.9m), well above the ₦200bn ($135.9m) minimum requirement for national banks.
Off-grid solar company Sun King has announced plans to establish manufacturing operations in Kenya and Nigeria as part of efforts to expand renewable energy access and boost local production across Africa.
