• KCB Group is in discussions with Ethiopia’s central bank following a 2024 law that allows foreign banks to operate locally.• The group may obtain a banking license or acquire shares in an Ethiopian bank.• With over 100 million people and low banking penetration, Ethiopia presents a major opportunity. Kenyan banking group KCB has officially opened negotiations with the National Bank of...

The AAE-2 subsea cable will enhance global internet resilience, unlock new digital growth opportunities across emerging markets, and support the next wave of technological innovation. By bridging gaps in the digital infrastructure between three continents, AAE-2 helps pave the way for a more equitable and connected global economy. Four telecommunications providers—PCCW Global, Sparkle, Telecom...

Africa Energy, now operator of South Africa's 11B/12B offshore block, is in talks with PetroSA to utilize its infrastructure. The aim is to develop the Brulpadda and Luiperd gas fields and reduce dependence on imported LNG. CNR International exited the site citing economic concerns, despite the block’s estimated 3.4 trillion cubic feet of gas and 192 million barrels of...

Perseus plans to produce between 2.6 and 2.7 million ounces of gold from 2026 to 2030 About $878 million will be invested, including $523 million for the Nyanzaga mine in Tanzania Output includes production from mines in Côte d’Ivoire, Ghana, and Tanzania Australian mining firm Perseus Mining aims to produce between 2.6 and 2.7 million ounces (about 80 to 84 tons) of...

Petronas to lay off 5,000 staff as part of a major restructuring for future competitiveness African operations not directly addressed, but changes could affect partnerships and timelines Company shifts focus to low-carbon projects amid global energy transition Malaysian oil company Petronas, a key player in Africa’s hydrocarbons sector, will cut around 5,000 jobs—roughly 10% of...

• Benin launches $1.4 billion five-year tourism development plan• Target: 2 million annual visitors and 13.4% GDP share from tourism by 2030• Strategy includes infrastructure, visa reforms, and cultural promotion Benin has approved a $1.4 billion strategic plan to develop its tourism, culture, and arts sectors over the 2025–2029 period. The plan aims to attract two million...

• Ethiopia forecasts 8.9% growth in 2025/2026, up from 8.4% in 2024/2025• Government unveils record $14.16 billion budget, up 31% from prior year• Growth to be driven by IMF-supported reforms and rising investments Ethiopia expects its economy to grow by 8.9% during the 2025/2026 financial year, up from an estimated 8.4% in 2024/2025, according to Finance Minister Ahmed Shide. The...

• Rwandan government to inject new funds into delayed Bugesera Airport project• Allocation included in 2025/2026 budget to help meet new 2027 launch target• Airport aims to handle up to 14 million passengers by 2032 The Rwandan government is preparing to restart construction of Bugesera Airport with fresh funding from the 2025/2026 national budget. The project, located about 25 km south of...

• Zimbabwe will halt lithium concentrate exports in 2027 to boost local processing• Chinese firms are building two lithium sulfate plants to support this shift• Value-added products like lithium carbonate bring far higher export earnings Zimbabwe, the top lithium producer in Africa with 2.4 million tons of concentrate in 2024, plans to stop exporting lithium concentrate from January 2027....

• Nigeria’s $5 billion loan from Saudi Aramco stalls due to falling oil prices• Deal tied to 100,000 barrels per day faces risk amid production constraints• Lenders demand stronger guarantees; Nigeria eyes alternate borrowing routes Nigeria is seeking new options to raise funding for its national budget, including a $5 billion loan agreement with Saudi Aramco, the Saudi...