Egypt signs $220 million deal with investors from UAE, Bahrain, and China. Project will build solar cells, panels, and a storage plant on 200,000 m² in three years. Atom Solar Egypt to create 841 jobs and boost the Suez Canal zone as a clean energy hub. Egypt signed a $220 million deal yesterday with investors from the United Arab Emirates, Bahrain, and China for the...

Egypt brings Zohr-6 well online, adding 65 million cubic feet/day to national gas output. The move aims to offset decline in Zohr field, which saw production drop from 2.7 bcf/day to 1.9 bcf/day. Egypt has increased LNG imports, negotiating 300 cargoes through 2026 to meet domestic demand. CAIRO – Egypt has commissioned the Zohr-6 well in its giant Zohr gas field, adding...

 Cameroon Telecommunications (Camtel) uses only 16% of its four submarine cable capacities. A Supreme Court report highlights underutilization, citing low internet penetration and high transit costs. The NBN I project, funded by Exim-Bank of China, aimed to boost connectivity. Cameroon Telecommunications (Camtel), the sole concessionaire of the national fiber optic network, is...

Qatari conglomerate Al Mansour Holdings signs $20 billion deal with Mozambique. Investments to target energy, agriculture, infrastructure, and tourism. Move follows $12 billion commitment in Botswana and $19 billion in Zambia earlier this month. Qatari private conglomerate Al Mansour Holdings will invest $20 billion in Mozambique, the presidency announced on...

36.8% of artisanal cobalt miners in the DRC say they are victims of forced labour, while 56.9% report suffering from broader forms of severe exploitation, according to a University of Nottingham report. 1,431 miners were surveyed across Lualaba and Haut-Katanga, provinces that supplied 76% of global cobalt output in 2024. The report highlights long working hours, unsafe conditions,...

JCR affirms Afreximbank’s A- rating with stable outlook Cites strong solvency, prudent risk management, consistent profitability Rating boosts access to Japan’s markets, contrasts Fitch downgrade Japan Credit Rating Agency (JCR) has confirmed a credit rating of A- for African Export-Import Bank (Afreximbank), with a stable outlook for the next 12 to 18 months, according to a...

Angola’s Etu Energias boosts reserves to 106M barrels in 2024 New projects, higher stakes drive production and financial growth Reports $215M profit, IPO planned for 2026 amid national decline Etu Energias, Angola's largest independent oil producer, increased its proven and probable crude reserves from 36 million to 106 million barrels between 2023 and 2024. The company has...

Nigeria bans raw shea nut exports for six months Policy aims to boost local processing, $300M annual revenue Joins West African trend reshaping global shea butter market Nigeria has banned the export of raw shea nuts for the next six months, effective August 27, 2025. The announcement was made in a government statement, which specified that the prohibition is intended to...

Unlike gold or copper, there is currently no benchmark price for bauxite. As the world's leading exporter of the raw material, Guinea has decided to launch its own index in the coming months, hoping to succeed where others have failed. Guinea's Minister of Mines, Bouna Sylla, announced in July 2025 the launch of the Guinea Bauxite Index (GBX), a national benchmark price intended to bring...

African leaders have pledged to reduce the use of fossil fuels to combat climate change. However, the continent's pressing development needs suggest a different reality: in Africa, the fossil fuel sector may continue to grow for the foreseeable future. Africa is projected to increase its refining capacity by 1.2 million barrels per day by 2030, according to OPEC’s 2025 World Oil Outlook. This...