Africa’s largest refinery has purchased crude oil from the United Arab Emirates for the first time, widening its supplier base as persistent shortages of Nigerian crude continue to complicate efforts to feed one of the world’s biggest single-train refining complexes. Dangote Refinery has bought crude oil from the UAE for the first time, marking its…
More than 50 million Africans have gained access to electricity in less than three years under a World Bank-backed initiative aimed at tackling the continent’s chronic power deficit, with Tanzania, Ethiopia and Nigeria accounting for the largest share of new connections as Africa accelerates efforts to power economic growth. More than 50 million Africans gained…
About three years after ordering 400 French special forces to leave its territory, Burkina Faso has taken its most consequential step yet in dismantling decades of French influence by formally severing diplomatic relations with France. Burkina Faso has formally severed diplomatic relations with France, ending decades of French influence. The government accused France of harboring…
A strong and stable currency might be one of the most significant assets that an African country can have. A strong and stable currency benefits African countries by lowering import costs, controlling inflation, and boosting investor confidence. Countries with strong currencies can purchase imported goods, such as petroleum and machinery, at lower prices, enhancing buying…
President Trump’s administration has escalated its campaign against the illicit mineral trade in Central Africa by sanctioning a Kigali-based gold refinery that it says sits at the heart of a sophisticated network smuggling conflict gold from the Democratic Republic of the Congo (DRC). The U.S. sanctioned Gasabo Gold Refinery in Kigali for allegedly refining and…
African economies heavily dependent on imported fuel could be set for some relief after shipping activity through the Strait of Hormuz surged to its highest level since conflict disrupted one of the world’s most important energy corridors. Shipping activity through the Strait of Hormuz has surged, with a record 78 vessels passing on June 24,…
Africa is spending billions of dollars to tackle one of its biggest barriers to economic growth, access to reliable electricity. As African countries invest billions to expand electricity access, oil producers worldwide burned an estimated $54 billion worth of natural gas in 2025, according to the World Bank. The report says the wasted gas could…
Nigeria, Libya and Algeria have been listed among the world’s biggest gas-flaring countries, raising fresh concerns over Africa’s ability to turn its oil and gas resources into power, revenue and industrial growth. Nigeria, Libya and Algeria are among the nine countries responsible for most global gas flaring. The World Bank said the top nine countries…
Africa is facing a fresh energy paradox: the world is burning off enough natural gas to match the continent’s annual consumption while millions of people still lack reliable electricity. Global gas flaring rose to 167 billion cubic metres in 2025, the highest level since 2019. The World Bank said the volume was comparable to Africa’s…
