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The World Bank has described the emerging electricity trends in Mozambique as positioning the country to become an “electricity hub” for the Southern African region.
The BoG’s assurances come as the country’s foreign reserves surged to $11 billion in June, from $10.6 billion in May — representing four months and 24 days of import cover.
Ethiopia is in talks with Canada, as part of its push to open up its economy, aimed at creating a better foreign investment platform that will allow investors to take local disputes to international frontier.
A state in Nigeria’s South East region, Enugu, has taken an unprecedented step by slashing electricity tariffs for its residents — marking a shift away from the centrally controlled pricing system.
Mozambique may soon see the revival of its stalled $20 billion liquefied natural gas (LNG) project as President Daniel Chapo confirmed that discussions with French energy giant Total Energies are approaching conclusion.
The government of Ghana has disclosed plans to revisit the terms of the Ewoyaa Lithium Agreement following a dramatic fall in global lithium prices, which has cast doubt on the financial viability of the project.
Shares of FirstHoldCo Plc, the parent company of Nigeria’s oldest bank, FirstBank, fell by 4.1% on Friday after former major shareholder Oba Otudeko offloaded his stake in a landmark transaction valued at ₦195.7 billion ($127.9 million).
The bond, issued in February 2021 and listed on the London Stock Exchange, had been trading near par at $99.00 as of July 11—an indicator of investor confidence in the bank’s ability to meet its financial obligations.
The African Development Bank Group (AfDB) has approved $201.4 million to fund the modernisation of Rwanda’s electricity distribution network.
Namibia’s President, Netumbo Nandi-Ndaitwah, has met with Shell executives as both sides resume talks on advancing exploration activities in the country.
The former chief executive of Ghana’s National Petroleum Authority (NPA), Mustapha Abdul-Hamid, has been named in a $28 million extortion and money laundering scheme, involving six others and three companies.
The IMF, which expanded Egypt’s original loan package to $8 billion last year, has made it clear that raising more revenue is a key priority.
Environmental groups in the US are challenging the Trump’s administration’s $4.7 billion loan approval for TotalEnergies to develop an LNG project in Cabo Delgado, Mozambique.
Equity’s push into the Middle East mirrors a broader trend among major African banks seeking expansion into the region. Since the beginning of 2024, at least four major lenders from the continent have either begun operations there or announced plans to expand.
The Cahora Bassa Hydroelectric Plant (HCB), Mozambique’s largest hydroelectric power producer is set to receive an upgrade which will increase the capacity of the turbines by more than 4% to 433 megawatts (MW) per unit.
Zimbabwe’s state-owned mining company, Kuvimba Mining House Limited, will begin construction of a $270 million lithium concentration plant at its Sandawana mine in the third quarter of this year, with commissioning expected in early 2027.
Guaranty Trust Holding Company (GTCO) has crossed the ₦100 share price mark — a first for any Nigerian banking stock — placing it alongside industrial giants like BUA Cement and Lafarge Africa.
On a year-on-year basis, annual inflation fell sharply by 11.97% in June, down from 34.19% in the corresponding month of the last year, reflecting the impact of a high base year and a significant fall in food inflation.
Nigeria’s crude oil production rose above the OPEC quota of 1.5 million barrels per day (bpd) in June 2025, according to the latest report by the Organization of Petroleum Exporting Countries (OPEC).
Nigeria’s national oil company, NNPC, has signed a $3.5 billion with Gas Aggregator Company of Nigeria (GACN) for gas project in Akwa Ibom.
