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Under the new export framework, companies that fail to meet allocation targets, breach environmental or tax rules, or transfer allocations to third parties will have their quotas revoked.
The central bank said the upcoming auction, which marks the tenth since the East African nation launched its new foreign exchange trading system in August 2024, follows months of robust inflows and rising reserves.
President Taye Atske Selassie told lawmakers in Addis Ababa last week that the government is targeting 9% economic growth and single-digit inflation in the current fiscal year, backed by ongoing reforms.
The European Commission, an agency of the European Union (EU), has announced a €618 million ($673.6 million) Team Europe package aimed at accelerating Africa’s transition to renewable energy — a major boost for the continent’s clean energy drive.
Nigeria’s electricity meter installations rose to 225,631 units in the second quarter of 2025, showing a 20.55% increase from the 187,161 meters installed in the first quarter, according to the Nigerian Electricity Regulatory Commission (NERC).
The Dangote Refinery has confirmed that it is importing semi-refined hydrocarbons as intermediate feedstock, firmly rejecting media allegations that it brought finished petrol with excessive sulphur content into Nigeria.
Wegagen’s management attributed the capital surge to strategic balance-sheet strengthening, business diversification, and an accelerated digital rollout.
The move marks a milestone for the Horn of Africa nation, which signed the trade agreement in 2018 and has since worked to align its systems with continental trade protocols.
This marks VFD’s second major capital raise in two years. At its eighth AGM in 2024, shareholders had approved a ₦30bn ($20.3m) capital raise, of which ₦12.5 billion ($8.45m) was successfully secured.
The transaction would mark Nigeria’s first Eurobond issuance since December 2024, when a $2.2 billion offer drew strong investor demand, with bids exceeding seven times the amount on sale.
Nigeria has attracted over $4.9 billion in capital expenditure for Non-Associated Gas (NAG) projects in the past four years, following the implementation of a strategic regulatory roadmap by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Nigeria has achieved a major milestone in its renewable energy journey as the country begins exporting locally manufactured solar panels to Ghana.
The Central Bank of Kenya insists that the move will offer further support to credit expansion and sustain the country’s growth trajectory while ensuring that prices remain stable.
Last week, the CBE cut its overnight deposit rate by 100 basis points to 21%, its fourth consecutive reduction this year and the lowest level in two years.
Optasia, a global provider of AI-driven financial technology, has announced plans to list on the Prime Segment of the Johannesburg Stock Exchange (JSE) Main Board, amid capital raise moves.
Egypt has asked suppliers of Liquefied Natural Gas (LNG) to delay deliveries scheduled for the rest of the year as domestic demand remains lower than expected.
Italian energy giant Eni has committed to increase its Egypt by $8 billion over the coming five years, targeting projects in the Zohr, Narges and Nour fields.
South Africa’s power utility, Eskom, faces labour pressure as workers demand a 15% wage increase just as the company records its first profit in eight years.
Nigeria has commissioned its first wholly owned Floating Storage and Offloading (FSO) vessel near the Bonny export terminal, with capacity to hold more than 2 million barrels of crude oil.
French oil giant, TotalEnergies, has warned it may suspend its oil and gas exploration projects in South Africa, citing persistent legal and regulatory setbacks that have stalled progress.
