Nigerian tycoon Tony Elumelu is set to leave the chairmanship of United Bank for Africa Plc after 12 years, closing a major banking chapter as a new oil and gas boardroom role comes into view. Tony Elumelu will step down as chairman of United Bank for Africa (UBA) in August 2026 after reaching the tenure…
London-listed Genel Energy has agreed to acquire Capricorn Energy in a $360 million all-cash deal, giving it a major foothold in Egypt as it seeks to reduce its reliance on oil assets in Iraq’s conflict-prone Kurdistan region. UK-listed Genel Energy has agreed to acquire Capricorn Energy in a $360 million all-cash deal. The acquisition gives…
The Democratic Republic of Congo, the source of about 70% of the world’s cobalt and the world’s second-largest copper producer, does not expect this year’s output of the critical minerals to suffer despite supply chain disruptions triggered by the recent conflict in the Middle East, a senior mining official told Reuters. DR Congo expects no…
Like the United States’ defense center, which derives its name directly from its geometric design, Egypt’s new defense center, The Octagon, is constructed based upon an eight-sided architectural concept. Egypt has inaugurated The Octagon, a new State Strategic Command Headquarters in the New Administrative Capital. The Octagon’s design features eight octagonal buildings symbolizing balance and…
Marriott International, the world’s largest hotel company, has ended its 34-year beverage partnership with PepsiCo and signed a global agreement with Coca-Cola, marking one of the biggest shifts in the long-running rivalry between the two soft drink giants. Marriott International has ended its 34-year partnership with PepsiCo and signed a global beverage agreement with Coca-Cola.…
Some of the world’s largest cobalt producers are racing to avoid losing their export quotas in the Democratic Republic of Congo after a government administrative failure prevented companies from processing shipments ahead of a key regulatory deadline. Major cobalt producers in the Democratic Republic of Congo, including Glencore and CMOC, fear losing export quotas after…
The United States has said it will stop supporting United Nations logistical assistance for the African Union peacekeeping mission in Somalia from next year, a move that could jeopardise one of Africa’s largest and longest-running security operations. The U.S. will stop backing U.N. support for the AU mission in Somalia. The decision takes effect from…
The global race to secure the minerals powering artificial intelligence, clean energy and advanced defence technologies is accelerating. Africa should be one of its biggest winners. Africa holds over a quarter of the world’s critical mineral reserves. Yet fewer than 10% of projects are moving towards production. McKinsey says the continent could unlock $40bn in…
Burkina Faso, Mali and Niger have officially begun the year-long legal process of withdrawing from the International Criminal Court (ICC), marking another significant step in the three military-led governments’ effort to distance themselves from Western-backed international institutions. Burkina Faso, Mali, and Niger have started the legal process to withdraw from the International Criminal Court (ICC),…
