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Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), disclosed that Nigeria’s oil and gas industry attracted $17 billion in new investments in 2024. This inflow, according to Ojulari, marks a major step toward the nation’s broader ambition of driving sustainable production growth and boosting gas output by the end…
The International Finance Corporation (IFC), a member of the World Bank Group, has announced a $72 million financing package to support Egypt’s first ever utility-scale Battery Energy Storage System (BESS) Project. In a press statement, the IFC said the funding will enable the development of Egypt’s first utility-scale Battery Energy Storage System (BESS), marking a…
Zimbabwe has launched the Zimbabwe Renewable Energy Fund (ZimREF), aiming to raise over $100 million in blended finance to boost renewable energy investments. The Finance Minister, Mthuli Ncube, announced the initiative at the United Nations Joint Sustainable Development Goals (SDG) Fund event in Seville, Spain, on July 1, 2025. He explained that access to reliable…
South-Central African country, Zambia, has inaugurated its largest grid-connected project, knowns as Chisamba solar power plant, with a capacity of 100 megawatts (100 MW) to be added to the country’s national grid. The President of Zambia, Hakainde Hichilema, launched the projects on Monday, 30th June 2025, alongside high-profile officials of the country. This is the…
The African Development Bank (AfDB) has approved a $474.6 million loan for South Africa to strengthen its power and transport sectors, aiming to improve energy efficiency and rail reforms. This follows weeks after South Africa secured a $1.5 billion loan from the World Bank for similar projects. This was disclosed in a statement issued by…
The Nigerian National Petroleum Company Limited (NNPC) has crossed a major milestone in the construction of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline, as the project successfully crossed the River Niger. This achievement, announced by NNPC Group Chief Executive Officer Bashir Bayo Ojulari on Tuesday, is seen as a boost to the company’s target of completing the…
Mauritania’s Council of Ministers has approved a $93.9 million financing agreement aimed at improving electricity reliability in the country. The agreement was approved during a cabinet meeting on June 25 under the chairmanship of Mauritania’s President Mohamed Ould Cheikh El-Ghazouani. The agreement, signed with the International Development Association (IDA), secures $93.9 million in financing for…
Ethiopia has begun exporting 50 megawatts (MW) of electricity to Tanzania through Kenya’s national grid for the first time, marking a pivotal achievement in cross-border energy trade. The Kenya Electricity Transmission Company Limited (KETRACO) successfully conducted this trial run, as confirmed by KETRACO’s update from its National Control Centre, which was built to improve electricity…
Tanzania has officially launched its largest-ever fertilizer manufacturing facility, marking a big step towards reducing fertilizer imports. The $180 million (TSh 486 billion) plant will be located in the Nala Industrial Area of Dodoma. The country’s President Samia Suluhu Hassan, joined by Burundian President Évariste Ndayishimiye, inaugurated the project over the weekend. Operated by Itracom…
The Botswana Energy Regulatory Authority (BERA) has approved an average 24% electricity tariff increase for elite and industrial customers. In a press release on June 27, the agency also announced a 30% reduction in tariffs for domestic customers who consume less than 200 kilowatt-hours (kWh) per month. The tariff adjustment comes in response to a…
Oil prices slipped on Monday as geopolitical tensions in the Middle East began to ease. Fresh signals also emerged that OPEC+ may increase output in August, raising supply expectations. This comes amid ongoing concerns about weaker global demand. The retreat came as traders priced out most of the risk premium added earlier in June, when…
Sierra Leone has announced plans to become West Africa’s newest oil and gas frontier. The country said it is carrying out its first offshore 3D seismic survey in more than a decade. A senior official said the fresh licensing round is expected to launch by October Director General of the Sierra Leone Petroleum Directorate, Foday…
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank (AfDB), has announced that it will fund the development of Zambia’s 32 MWp Ilute Solar Project with $8 million. In a statement by the AfDB, the project will be developed by Serengeti Energy and will be managed under a Power Purchase Agreement…
Akwa Group, a major Moroccan player in energy and petroleum distribution, has begun constructing a new oil storage and processing facility in Bargny-Sendou, located about 30 kilometers from Dakar, Senegal’s capital, according to North Africa Post. The project is a strategic investment that includes both fuel storage and a natural gas processing plant. It is…
US-based energy firm, Hydro-Link, has signed a memorandum of understanding to build a 1,150-kilometer electricity transmission line between Angola and the Democratic Republic of the Congo (DRC). At the signing ceremony on the sidelines of the 17th U.S.-Africa Business Summit in Luanda, Angola, Paul Hinks, CEO of Hydro-Link said the $1.5 billion project is set…
Billionaire industrialist, Aliko Dangote, has revealed plans to list his $20 billion oil refinery on the Nigerian stock exchange by the end of 2025, a move intended to broaden investor participation and counter monopoly claims. Speaking at the African Export Import Bank’s annual general meeting in Abuja on Friday, Dangote said the listing would allow…
US-based Anzana Electric Group has announced plans to fund the construction of the stalled hydropower plant on the Ruzizi River between Rwanda and the Democratic Republic of the Congo. The announcement comes as part of peace talks mediated by the United States between the two countries. In a joint statement, Anzana Electric Group and Rwanda-registered…
Namibia is exploring several financial incentives for French oil major, TotalEnergies, to support the successful takeoff of the Venus oil field, marking another key step in its push to become an oil producer within the next five years. Kornelia Shilunga, Special Adviser and Head of the Upstream Petroleum Unit in the Namibian Presidency, revealed this…
Tanzania’s government has announced plans to invite private investment into the country’s electricity transmission projects for the first time. Speaking on the sidelines of the Africa Energy Forum in Cape Town, Felchesmi Mramba the Permanent secretary of Tanzania’s Ministry of Energy said the government has received strong interest from potential investors following the Cabinet’s approval…
The Republic of Mauritius is seeking investors to finance the development and operation of a flagship floating power plant which will aid the country address its growing electricity demand. In an official tender issued by the state-owned Central Electricity Board (CEB), the proposed plant will run on heavy fuel oil and will have a capacity…