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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…
The government of Niger Republic has announced plans to fully nationalize the Niger Electricity Company (NIGELEC), effectively ending its status as a mixed-ownership firm. The decision, confirmed at the June 19 Council of Ministers meeting, will see the company transfer all its capital and assets to the State, with its Board of Directors dissolved. Minority…
The government of Cameroon has unveiled an ambitious plan to connect 8 million people to its national grid in an effort to achieve universal electricity access by 2030. Speaking at the Africa Energy Forum in Cape Town, South Africa, Cameroon’s Minister of Water and Energy, Gaston Eloundou Essomba, said the country will need $12 billion…
Namibia’s government has introduced an electricity subsidy worth N$140 million ($7.9 million) to increase national electricity access from 60% to at least 70% by 2030. This forms part of the government’s goal of connecting more than 200,000 households to the grid by 2030. Speaking at the signing of a new round of Service Level Agreements…
Zambia’s Energy Regulation Board (ERB) has issued $159 million worth of energy licenses and construction permits for solar power plants in the country. This was announced by the Board’s Public Relations Manager, Namukolo Kasumpa, in a statement on June 23. In the statement, Kasumpa said the Board approved 43 licence applications and six construction permits…
The state-owned utility company of Kenya, Kenya Power, has reportedly released the sum of $1.1 billion to Kenya Electricity Generating Company PLC (KenGen) and Independent Power Producers (IPPs) in the 2023/24 financial year. This was contained in a statement by the Energy Cabinet Secretary, Opiyo Wandayi, during a Senate Energy Committee session on Sunday. The…
South Africa has secured a new $2.2 billion commitment from World Bank–linked funds to fast-track the phase-out of coal—marking the second major energy transition support package the country has received this month. The funding package includes contributions from the Climate Investment Funds’ (CIF) Accelerating Coal Transition initiative, which, along with additional support from multilateral lenders,…
Astron Energy, one of South Africa’s largest petrol station operators, is headed to court to challenge a R2.7 billion (~$140 million) tax assessment by the South African Revenue Service (SARS). SARS claimed it identified five serious infractions during a 2017 audit of Astron, which prompted it to issue a letter of demand in October 2019…
French energy giant TotalEnergies, alongside QatarEnergy, has secured a license from the government of Algeria to explore the Ahara onshore field. The Ahara license was awarded under Algeria’s 2024 bid round that was launched by the National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), the first call for tender conducted under the hydrocarbon law…
Chinese solar company, Sunrev, has signed an agreement to establish a $200 million integrated industrial complex for the production of solar energy components in Egypt’s Ain Sokhna industrial zone, part of the Suez Canal Economic Zone (SCZONE). The contract was signed by Cao Hui, Managing Director of TEDA, and Qi Fei, Managing Director of Sunrev…
Africa’s richest man, Aliko Dangote, is exploring new opportunities in Namibia’s phosphate and energy sectors as part of plans to expand the Dangote Group’s industrial footprint beyond West Africa. During a visit to State House in Windhoek on Thursday, Dangote met with Namibia’s President, Netumbo Nandi Ndaitwah, where he expressed interest in investing in the…
The African Development Bank (AfDB) has approved €19.6 million in financing to support the Cabeólica Phase II Expansion Project in Cabo Verde. The project advances Cabo Verde’s goal of generating 50% of its electricity from renewables by 2030 as well as its Nationally Determined Contribution under the Paris Agreement. The project is the West African…
French energy giant Total Energies plans to restart its long delayed $20-billion liquefied natural gas (LNG) project in Mozambique this summer, according to the company’s Chief Executive Officer, Patrick Pouyanné. The project, which has been under force majeure since 2021 due to a surge in militant attacks in the northern Cabo Delgado region, is now…
China’s Zhongman Petroleum and Natural Gas Group (ZPEC) has announced it has won a competitive tender to explore and develop Algeria’s Zerafa II natural gas block, outbidding established Western energy giants such as TotalEnergies, Eni, and Equinor. The announcement, shared on ZPEC’s official WeChat platform late Wednesday, marks the Shanghai-listed company’s first foray into hydrocarbon…
Nigeria’s Dangote refinery is preparing to export its first-ever petrol cargo to the Asian market, according to a source familiar with the development. People familiar with the told Reuters that a 90,000 metric ton cargo of petrol will be departing the Nigerian refinery for Asia, with Mercuria scheduled to load the shipment on Sunday, June…
Nigeria’s oil sector is set for a major regulatory shift as its federal government prepares to implement a real time tracking system for crude oil export cargoes, aiming to curb theft and boost revenue. The new framework will require oil producers to secure an export permit, vessel clearance, and a unique cargo identification number before…