Citibank Nigeria raised its capital to 200 billion naira ($136 million), meeting new CBN requirements five months before the March 2026 deadline. Only 14 of Nigeria’s 36 banks have complied with the recapitalization rules so far, according to the central bank. The CBN raised capital thresholds in 2024 to strengthen the banking sector and support large-scale financing in...

The World Bank projects Tunisia’s GDP growth to rise to 2.6% in 2025 from 1.4% in 2024, driven mainly by agriculture. Growth is expected to slow to 2.4% on average in 2026–2027 due to tighter financial conditions. Tunisia’s stalled IMF talks since 2023 continue to weigh on external financing prospects. The World Bank projects Tunisia’s economy to expand by 2.6% in 2025, up...

JNIM, an al-Qaeda affiliate, has blocked Mali’s fuel imports since September, destroying convoys and crippling supply. Mali’s electricity output has plunged, with some areas receiving as little as six hours of power a day. The crisis exposes Mali’s dependence on coastal neighbors for fuel and its vulnerability to security shocks. Mali has faced a severe fuel shortage since...

Kenya’s public debt rose to 11.81 trillion shillings ($91.3 billion), or 67.8% of GDP, in June 2025, up from 63% in 2024. The government spent 1.72 trillion shillings on debt service in 2024/25, with the bulk going to domestic lenders. The Treasury plans to extend debt maturities, refinance costly bonds, and rely more on concessional borrowing to ease repayment risks. Kenya’s...

Nigeria, which holds Africa’s largest proven gas reserves of 209.26 Tcf, is urging African LNG exporters to adopt a unified strategy. Nigeria LNG (NLNG) is expanding its capacity from 22 million tonnes per year to 30 million tonnes with a $10 billion Train 7 project. Africa’s LNG capacity could rise from 70 mtpa today to 120 mtpa by 2035, according to NLNG. Nigeria urged African gas...

Cameroon’s fertilizer imports fell 12.2% in value in 2024 Government backs local production with subsidies, PPPs, and new plants New Douala facility targets 150,000-ton capacity to cut import reliance Cameroon’s fertilizer import bill fell in 2024, according to the National Institute of Statistics (INS), as the government steps up efforts to boost local production and cut dependence on...

ExxonMobil Egypt partners with Octane to digitize transport services Deal integrates digital tools with fuel and maintenance networks Aims to boost efficiency, safety, and support sustainability goals ExxonMobil Egypt announced on October 7 a strategic partnership with the tech firm Octane to modernize Egypt’s transport sector by combining digital vehicle optimization tools with...

Nigeria rail passengers rose to 929,553 in Q1 2025 Passenger and freight revenues saw year-on-year increases Growth continues despite aging infrastructure and recent derailments Nigeria’s railway network carried 929,553 passengers in the first quarter of 2025, up from 675,293 in the same period of 2024, according to data from the National Bureau of Statistics (NBS). Passenger...

Chevron names Kevin McLachlan VP of Exploration from Nov. 1 Veteran explorer brings deep African expertise from TotalEnergies Appointment supports Chevron’s push in Angola, Namibia, Nigeria U.S. oil major Chevron announced on Tuesday, October 7, the appointment of Kevin McLachlan as Vice President of Exploration, effective November 1, 2025. He succeeds Liz Schwarze, who is set to retire...

Springbok Solar Power Project spans 350 hectares near Virginia, Free State, with 195 MW capacity. Land dispute with natural gas producer Renergen settled via coexistence agreement in September 2025. Project expected to generate 430 GWh annually, create 500 jobs, and invest R375 million in local communities. The South African SOLA Group has officially resolved a legal dispute over land use,...