Talks between Capricorn and Egypt advance on gas concessions
Capricorn Energy is in advanced talks with Egypt’s state-owned petroleum company to amend gas concession agreements, aiming to increase investment and production.
South Africa’s budget may be revised amid political standoff
The budget has become a major test for the fragile coalition government formed after the ANC lost its parliamentary majority last year for the first time since the end of apartheid
IMF says Egypt plans fuel subsidy cuts
Egypt is committed to eliminating fuel subsidies and reaching cost recovery levels by December 2025, as stated by the IMF, to address its current account deficit.
IMF completes fourth review and releases $1.2 billion to Egypt
The IMF has approved a $1.2 billion disbursement for Egypt after completing its latest economic review.
Petrobras plans Africa oil exploration wells
Petrobras is exploring opportunities in Argentina, advancing projects in Colombia, and planning exploratory wells in Africa to expand its oil and gas operations.
Ghana government scraps IMF-linked tax levies
Ghana’s new government scrapped several Covid-era taxes, including a mobile money levy, to ease economic hardship and boost business growth.
African finance body pushes for pension funds to invest locally
The Africa Finance Corporation aims to mobilize billions from African pension funds and attract external investments to boost the continent’s infrastructure and economic growth amid shifting global financial flows.
US, Congo discuss critical minerals partnership
United States considers mineral partnerships with Congo amid security concerns and resource wealth.
Zambia and Huawei showcase smart village digital transformation
The smart village project focuses on enhancing education and healthcare through digital technology.
Barrick seeks resolution with Mali over mining dispute
The Malian government and Barrick Gold are working to finalize an agreement regarding gold exports.
France will loan funds for Morocco’s high-speed trains
The Moroccan rail operator ONCF expands its network with loans from France, Spain, and South Korea.
ERG halts cobalt deliveries from Congo due to export ban
It is impacting the global cobalt market, as ERG is a major producer and lacks stockpiles outside the DRC.
Microsoft to invest $296M in AI infrastructure in South Africa
Speaking at an event in Johannesburg, Smith also revealed that Microsoft plans to fund technical certification exams for 50,000 individuals
Nigeria’s Seplat plans $320 million investment to boost oil output
Seplat Energy plans to invest up to $320 million in new wells and infrastructure in Nigeria this year, aiming to more than double its oil output to as much as 140,000 barrels per day following its acquisition of ExxonMobil’s Nigerian assets.
Libya begins first oil bidding round since Gaddafi’s fall
After 17 years of hiatus, Libya opens first oil exploration bidding round to attract foreign companies.
Uganda partners with firms to restart copper mining operations
Uganda has signed its first mining production sharing agreement with local firms Sarrai Group Limited and Nile Fibreboard Limited to redevelop the Kilembe copper and cobalt mine.
Rainfall crucial for Ivory Coast’s cocoa mid-crop development
Cocoa farmers in Ivory Coast urge for more rain to strengthen mid-crop and ensure better yield.
Egypt, EU sign €90M deal to strengthen food security
The funding, provided by the European Investment Bank (EIB), will be used to upgrade Egypt’s grain storage and logistics infrastructure
High-speed internet reaches Niger’s desert regions via Starlink
Niger is turning to satellite broadband, specifically Starlink, to bridge its digital divide and provide internet access to remote rural areas where traditional infrastructure is lacking or has been damaged by conflict.
Morocco invests $2.9b in 168 trains for World Cup expansion
Morocco’s state-owned rail operator ONCF has announced a $2.9 billion deal to purchase 168 trains from France, Spain, and South Korea.
Algeria, China strengthen energy ties with $850 million agreement
Algeria’s Sonatrach and China’s Sinopec signed an $850 million contract for hydrocarbon development and exploration,
IMF ties Guinea support to tax recovery and economic reforms
The IMF has conditioned financial support for Guinea on the recovery of tax debts and economic reforms, as discussed in a recent mission with Guinean officials.
Botswana, De Beers finalize long-awaited diamond sales deal
President Duma Boko, who took office last October, made finalizing the deal a key priority
Funding shortage impacts Ivory Coast cashew industry
Cashew processors in Ivory Coast are facing a funding shortfall, as promised bank funding from the state-owned BNI is not being disbursed.