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Northern African country Egypt has announced plans to raise electricity rates as part of its gradual removal of power subsidies.
Senegal has announced plans to build a second oil refinery in 2026, a $5 billion initiative aimed at reducing its reliance on imported fuels.
Italian energy giant Eni has given final financial approval for the $7.2 billion Coral Norte liquefied natural gas (LNG) project in Mozambique, setting the stage for the country’s second major gas project.
Angola plans to increase the number of awarded oil and gas concessions to 60 by the end of 2025 as part of its continued drive to open up the country’s energy sector and attract global investors.
Ethiopia has officially launched construction of a 3.5 million tons per year (70,300 bpd) crude oil refinery in Gode, Somali Region, in a major effort to support the country’s industrial development.
The Nairobi Securities Exchange (NSE) has unveiled a Banking Sector Index to give investors a sharper view of Kenya’s largest and most liquid sector, with a cumulative total asset of KSh 7.9trn ($60bn).
Family Bank Kenya is set to debut on the Nairobi Securities Exchange, breaking a long drought of new listings on the bourse, buoyed by its strong earnings performance.
Business activity in Nigeria slipped to a three-month low, despite easing inflation supported by relative exchange-rate stability and seasonal factors.
Tanzania major city, Zanzibar, has launched an $8.4 million electricity stabilisation project aimed at modernising its grid and ending years of unreliable supply and costly blackouts.
US energy firm, Chevron, has completed seismic data acquisition for Blocks 49 and 50 in Angola and is now moving into the data processing phase.
Nigeria’s UTM Offshore is considering a partnership with Seplat and Vitol to launch its $5 billion floating LNG project, the first in the country.
South Africa’s state-owned power utility, Eskom, lost approximately R481 billion ($27.9 billion) in economic output due to load shedding in 2024.
Italian energy giant Eni is set to sign a final investment decision (FID) for Mozambique’s $7.2 billion Coral Norte floating liquefied natural gas (FLNG) project.
Abyssinia’s registration increases the number of lenders to two, with the intent to establish in its investment market in Ethiopia’s liberalised financial sector.
According to the Finance Ministry document the Islamic bonds will carry a seven-year maturity and pay a fixed annual return of 6% to investors as rental income, in line with Sharia principles.
President Tinubu said Nigeria had already surpassed its 2025 non-oil revenue target by August, with collections topping ₦20trn ($13.1bn).
The government of Nigeria has confirmed that the Dangote Group will reinstate workers recently disengaged from the Dangote Refinery.
Angola’s state oil company, Sonangol, has announced that only 30% of its shares will be listed on the stock market as part of a gradual privatisation plan designed to attract foreign investors and improve transparency in the country’s petroleum sector.
South Africa’s state-owned power utility, Eskom, has recorded its first full-year profit in eight years, signaling a turnaround after prolonged financial losses and power shortages.
Dubbed the Impact Investment Program, the country’s Citizenship-by-Investment initiative expected to take full effect early next year.
