Libya’s oil firm signs exploration deal with Exxonmobil
Libya’s National Oil Corporation has signed a memorandum of understanding with ExxonMobil to restart offshore hydrocarbon exploration after a decade-long halt.
African Development Fund to tap markets amid shrinking donor aid
The African Development Fund will begin raising $5 billion from capital markets every three years from 2027 as donor support, especially from the US, declines.
South Africa awaits urgent US reply on trade deal to avoid tariffs
South Africa’s trade talks with the US remain unresolved as a looming tariff risks hurting agriculture and automotive sectors.
Morocco commits $4.2 billion to modernise airports for World Cup
Morocco will invest $4.2 billion over five years to upgrade its main airports and increase capacity ahead of cohosting the 2030 World Cup.
Google pledges $37M to boost AI in Africa
Google announced a $37 million package to support AI research, startups, and education across Africa, focusing on agriculture, health, and language technologies.
Libya’s PM proposes $70B economic partnership with the US
Libyan Prime Minister Abdul Hamid Dbeibeh proposed a $70 billion economic partnership with the US focusing on energy, infrastructure, and investment projects.
Algeria and Italy sign deals to boost defense and energy
Algeria and Italy signed 14 agreements in Rome covering defense, energy, agriculture, counterterrorism, culture, and investment to enhance bilateral cooperation.
Angola lifts crude production with launch of two major oil fields
Angola launched two offshore oil projects producing 60,000 barrels daily, aiming to stabilise declining output through regulatory reforms and new investments.
Sudanese pound plunges as dollar tops SDG 3,200
Economists blame a toxic mix of war spending, shuttered export sectors and unrestrained money printing by the Central Bank of Sudan
Zambia plans refinery processing 60,000 barrels daily by 2026
Zambia signed an agreement to build a $1.1 billion crude oil refinery and energy complex in Ndola to meet domestic fuel demand and reduce import costs.
China begins building world’s biggest hydropower project in Tibet
Premier Li Qiang has launched a massive energy project in Tibet that aims to generate 300 billion kWh annually and advance China’s carbon goals.
Kenya scales carbon capture with heat from the Great Rift Valley
Kenya’s Octavia Carbon is leveraging geothermal energy to pioneer cost-effective direct air carbon capture, despite scepticism and scalability challenges.
South Africa’s car exports to US plummet after Trump tariffs hit
Tariffs imposed by the US have led to a collapse in South African auto exports, creating deep concerns for the country’s economy and workers.
Mozambique clears path for revival of TotalEnergies LNG project
Mozambique says conditions now allow TotalEnergies to resume its LNG project halted after 2021 insurgency near its Afungi site.
Sudan pound nears 3,000 per dollar
Bankers blame an acute shortage of foreign-exchange inflows and heavy withdrawals of local deposits for paralyzing the formal market
Mali sells gold from Barrick mine to restart major operations
Malian authorities are using gold reserves from a seized Barrick mine to address salary arrears and resume production activities.
Botswana lets pula slide faster to ease diamond market pressure
Facing pressure from declining diamond revenue and shrinking reserves, Botswana will allow the pula to depreciate faster than previously announced.
Dangote expands fuel reach to southern Africa via Namibia
Nigeria’s Dangote refinery plans fuel storage in Namibia to serve southern African markets and enhance regional energy distribution.
Sonatrach, Eni ink $1.35B Algerian energy deal
A 30-year contract between Sonatrach and Eni will explore and exploit hydrocarbons in Algeria’s Berkine Basin, investing $1.35 billion.
BP and Shell partner with Libya’s NOC to explore oilfields
Libya’s NOC signs with BP and Shell to study and develop hydrocarbon resources in key oilfields.
Morocco trains youth in coding to grow its local video game industry
Morocco builds a homegrown gaming industry with developer hubs and training to create jobs for its youth.
IMF unlocks $261 million following Congo program review
Following a successful program review, the IMF has disbursed $261.9 million in credit support to the Democratic Republic of Congo.
Ethiopia secures IMF funds as debt restructuring talks progress
IMF endorses Ethiopia’s loan program and releases funding while the country negotiates relief on $8.4 billion of debt.
Modi, Mahama deepen security and mining ties in Ghana
Modi and Mahama pledged closer cooperation in defence, counter-terrorism, and critical mineral exploration.
