GasMeth Energy Ltd has invested an additional $170 million into its flagship methane extraction and processing project on Lake Kivu, Rwanda, bringing the total investment to over $560 million in a bold push to accelerate the country’s clean energy ambitions. GasMeth Energy Ltd injects an additional $170 million, raising its total investment in Rwanda’s Lake…
Nigeria’s vast informal economy, stretching from street vendors and market traders to roadside artisans and small-scale farmers, remains both the heartbeat of Africa’s largest economy and a reflection of its deep-rooted inequalities. Over 40% of Nigeria’s informal businesses earn less than $12 daily, revealing the fragility of Africa’s largest informal workforce. 79% of small business…
The Dangote Oil Refinery recently disclosed that it has reinstated workers whom the company had laid off a few months back. Dangote Oil Refinery reinstated employees who were previously laid off amid restructuring. Dismissals were associated with facility-wide safety risks and operational sabotage concerns. Reinstated staff members have been redeployed to various regions in Nigeria,…
Nigerian billionaire Aliko Dangote is preparing a major return to Zimbabwe with plans for a US$1 billion industrial complex that will integrate cement production, coal mining, and power generation. Aliko Dangote plans to invest US$1 billion in Zimbabwe for a comprehensive industrial complex. The Dangote Group previously explored Zimbabwean opportunities in 2015 and 2018. The…
In a major boost to Africa’s green industrial transition, Chinese firms have invested over $1.3 billion in Nigeria’s rapidly expanding lithium processing industry, according to the country’s Minister of Solid Minerals Development, Dr. Dele Alake. Chinese firms have invested $1.3 billion in Nigeria’s lithium processing industry since September 2023. Companies including Canmax Technology, Jiuling Lithium,…
Tanzania has unveiled an ambitious $420 million synthetic fuel project aimed at positioning the country as a leading exporter of jet fuel in Africa, potentially challenging Nigeria’s Dangote Group, which currently dominates the continent’s refined fuel market. Tanzania has launched a $420 million synthetic fuel project aiming to become a leading exporter of jet fuel…
JPMorgan Chase & Co. is returning to Angola’s financial system, becoming the first U.S. bank to resume dollar clearing services in the country after years of compliance concerns. JPMorgan Chase & Co. has re-entered Angola’s financial market, providing dollar clearing services for the first time in years. This move symbolises Angola’s progression toward better integration…
South Africa’s FirstRand Bank has acquired a 20% stake in UAE-based Optasia, a digital finance platform serving millions of underbanked clients across Africa, the Middle East, and Asia. FirstRand acquires a 20% stake (worth $70 million) in UAE-based fintech Optasia ahead of its JSE listing. Optasia serves millions of unbanked customers across 38 countries in…
Paul Biya, the world’s oldest sitting president, has secured an eighth term in Cameroon, keeping him in power as the country’s largely young population watches a political era that has spanned four decades. Paul Biya, 92, has been re-elected as president of Cameroon, extending his leadership since 1982. The election results showed Biya winning with…
