The Uganda National Oil Company (UNOC) and Alpha MBM Investments LLC, a firm based in Dubai, recently signed a significant $4 billion agreement for the construction of an oil refinery. The Uganda National Oil Company (UNOC) has partnered with Dubai-based Alpha MBM Investments LLC for a $4 billion refinery project. UNOC will own a 40%…
South Africa’s Nedbank Group has made an offer to acquire a 66% stake in Kenya’s NCBA Group in a cash-and-share transaction valued at 13.9 billion rand ($855.5 million). Nedbank Group, a South African banking entity, has proposed acquiring a 66% stake in Kenya’s NCBA Group for 13.9 billion rand. This transaction includes a blend of…
A Zambian energy trader is planning to invest $100 million in a power transmission line linking Zambia to its neighbouring country, Tanzania. A power transmission line connecting Zambia to Tanzania is proposed by Zambian energy trader Kanona Power Co., with an investment of $100 million. This project aims to support Zambia’s copper mine industry by…
The closure of refineries across Europe and North America is reshaping global fuel markets and elevating Nigeria’s Dangote refinery’s influence, according to a new report by energy intelligence firm Kpler. Refinery shutdowns across Europe and North America are tightening global fuel supplies and reshaping trade flows. Energy intelligence firm Kpler says the closures have raised…
Denmark has invested about $1.2 billion in Nigeria’s port infrastructure through APM Terminals and is preparing to expand its footprint, underscoring renewed foreign interest in Africa’s largest economy amid sweeping reforms in the maritime sector. Denmark has invested about $1.2 billion in Nigeria’s port infrastructure through APM Terminals, with plans for further expansion. The disclosure…
South Africa’s inflation is on course to meet the South African Reserve Bank’s (SARB) revised 3% target in 2026, with prices remaining broadly stable. South Africa’s central bank anticipates meeting its revised 3% inflation target by 2026, with inflation for 2025 forecasted at 3.2% to 3.4%. The main lending rate is currently 6.75%, with a…
Ethiopian Airlines, Africa’s largest carrier, has ordered nine Boeing 787 Dreamliner aircraft as it moves to meet rising demand for long-haul travel. Ethiopian Airlines has ordered nine Boeing 787 Dreamliner aircraft to enhance its long-haul fleet in response to rising international travel demand. This order aims to support the airline’s global network expansion, currently servicing…
Ghana has taken a decisive step towards keeping more value from its gold industry, signing a new agreement that will see the precious metal refined locally before export. Ghana has signed a new deal to refine gold locally, reducing its reliance on raw exports. The agreement involves GoldBod, Gold Coast Refinery, and South Africa’s Rand…
Senegal has revoked offshore exploration rights held by Atlas Oranto Petroleum, a privately owned upstream oil and gas firm founded by Nigerian energy entrepreneur Arthur Eze, reinforcing a tougher regulatory approach toward long-stalled licences. The decision aligns with Senegal’s commitment to enhance regulation in its energy sector and rapidly monetize hydrocarbon resources. Senegal revoked the…
