Nigeria’s leading anti-corruption agency has returned nearly $2.6 million in recovered funds to the Nigerian National Petroleum Company (NNPC) Limited, in a move that underscores renewed efforts to tackle financial misconduct within the country’s oil sector. Nigeria’s anti-graft agency has returned $2.6 million in recovered funds to NNPC. The EFCC says the money was recovered…
The Chinese Embassy in Zimbabwe has issued a fresh warning to its nationals and companies operating in Zimbabwe following new government measures restricting the export of raw minerals, including lithium concentrates. The Chinese Embassy in Zimbabwe has warned its nationals and companies about new restrictions on exporting raw minerals, including lithium concentrates. Chinese investors are…
African nations are expected to borrow $155 billion in long-term commercial debt in 2026, a 10% increase from 2025, according to S&P Global Ratings. African nations are anticipated to borrow $155 billion in long-term commercial debt in 2026, marking a 10% rise from 2025. This increased borrowing aims to refinance maturing debt and manage expanding…
Italy’s Eni has discovered more than 1 trillion cubic feet of gas offshore Libya, strengthening Europe’s push to secure alternative energy supplies closer to home. Eni has discovered over 1 trillion cubic feet of gas offshore Libya. The fields can be quickly developed using existing infrastructure. Output will supply Libya and boost exports to Italy.…
The World Bank has approved $45 million in financing for Zambia to support its economic reform programme and strengthen resilience to climate shocks. The World Bank has approved $45 million to support Zambia’s economic reforms and climate resilience efforts. The funding signals renewed investor confidence following debt restructuring and IMF-backed reforms. Key focus areas include…
The Democratic Republic of Congo has approved the sale of copper and cobalt producer Chemaf to US-based Virtus Minerals, according to Bankable, in a deal that shows Washington’s growing push to secure critical minerals from Africa. Congo has approved the sale of Chemaf to US-based Virtus Minerals. The deal supports a broader US strategy to…
Namibia is rapidly emerging as one of Africa’s most active mineral exploration hubs, drawing a surge of investor interest as global demand for critical resources accelerates. Namibia is emerging as Africa’s top frontier for mineral exploration, attracting over 800 new licence applications. Regulatory reforms and digital platforms are speeding approvals and clearing backlogs. South Africa,…
Ethiopia has emerged as Africa’s second-largest destination for foreign direct investment (FDI), underscoring its growing appeal to global investors and the impact of recent economic reforms. Ethiopia has emerged as Africa’s second-largest FDI destination, attracting $18.6 billion over the past 5 years. Chinese companies dominate investment, accounting for the majority of projects across key sectors.…
Petrol imports in Nigeria during the last fiscal month declined significantly, as the Dangote Refinery stepped in to fill the energy gap. Nigeria’s petrol imports dropped sharply last month as the Dangote Refinery supplied most of the nation’s fuel demand. In February, local fuel supply accounted for 92% of total demand, reducing daily imports to…
