Africa / News
DRC, Zimbabwe and Nigeria ministers set out beneficiation targets at inaugural African mining forum
Mineral beneficiation – processing raw ores and minerals domestically, rather than exporting them unrefined – features prominently in African Union strategies.
China signs $1.4bn Tazara railway deal, reviving copperbelt link amid Lobito Corridor rivalry
China's deal with Tanzania and Zambia sets up a direct contest with the US- and EU-backed Lobito Corridor in Angola amid booming copper and cobalt exports from the Zambia–DRC copperbelt.
Zimbabwe aims to expand dollar-denominated VFEX into financial centre, says CEO
VFEX could serve as the anchor for a future international financial services centre in Victoria Falls, modelled loosely on hubs such as Mauritius or Botswana’s IFSC.
EBRD sees 4.7% growth in six sub-Saharan African economies in 2025, warns of sharp divergence
EBRD projects six sub-Saharan African economies to grow 4.7% in 2025, led by Benin and Côte d’Ivoire, while Nigeria and Ghana struggle with high inflation and Senegal enters a hydrocarbon boom.
Egypt’s East Port Said ranked 3rd globally in World Bank port performance index, 1st in MENA
Maersk and other operators are expected to deepen their involvement at East Port Said, which Cairo hopes to leverage to secure new investment in value-added industries.
France and European states recognise Palestine at UN two-state summit
France has joined a growing list of Western countries formally recognising the State of Palestine, in a move President Emmanuel Macron described as “the only path to peace.”
Cairo and Moscow seal 49-year pact on Russian Industrial Zone on shore of Egypt's Suez Canal
The Russian Industrial Zone (RIZ) will be located in Ain Sokhna, within Egypt’s Suez Canal Economic Zone -- a vital maritime artery that links the Mediterranean and Red seas and provides the fastest sea passage between Europe and Asia.
South Sudan officials diverted $2.2bn from Oil for Roads scheme, UN report finds, citing “systemic” corruption
A UN inquiry on South Sudan finds systemic corruption and fiscal mismanagement – and falling oil output – are driving hunger, economic collapse, and a worsening human rights crisis.
Mali blockade deepens as jihadists choke vital trade routes
Mali’s junta has sought to reassure citizens after Islamist militants tightened a blockade on highways feeding the capital, torching lorries and kidnapping foreign drivers in a campaign analysts warn could strangle the economy.
Nigeria clears $18.2bn in oil and gas field development plans to lift output
The $18.2bn worth of approvals mark among the largest investment commitments in Nigeria's O&G sector since the 2021 Petroleum Industry Act (PIA) was adopted, underpinning the target to raise crude capacity above 3mn bpd.
Flydubai expands Kenya operations with new Nairobi flights and increased Mombasa services
Flydubai launches new Nairobi flights from October 15 and increases Mombasa to daily service, bringing total weekly Kenya flights to 11 as part of African expansion.
Small, medium-sized countries establish Future of Investment and Trade Partnership
UAE joins 13 countries in establishing Future of Investment and Trade Partnership to promote open trade, strengthen supply chains and address emerging economic challenges globally.
Nigerian president advances oil bill placing NNPCL under control of Finance Ministry, upstream regulator
President Bola Tinubu has endorsed a bill that would undermine the "independence" of NNPCL, shifting ownership to the Finance Ministry and handing new powers to upstream regulator NUPRC.
Lukewarm support for Polish UN vote condemning Russian drone incursion
Only 46 out of 193 UN member states signed a joint UN declaration on September 12, denouncing Russia’s alleged involvement in a drone incursion into Polish airspace two days earlier.
GoviEx, Niger extend arbitration pause on Madaouela uranium project valued at $376mn
Madaouela is among the world’s largest uranium resources, with measured and indicated resources of 100mn pounds of U₃O₈ and a post-tax net present value of $376mn at a uranium price of $80 per pound.
Aminex reaches major milestone in Tanzania’s largest onshore gas development - Interview
Aminex has entered the construction phase of the Ntorya Project, Tanzania’s largest onshore gas development, marking a key milestone for the company and the East African country’s energy strategy.
Oil majors face $4.4bn in liabilities under Nigeria's tightened decommissioning rules, says NUPRC chief
Nigeria’s upstream regulator has cleared 94 oilfield decommissioning plans worth $4.42bn since April 2023, arising from all FDPs submitted in that period, the NUPRC chief said, underscoring tightened rules to safeguard state finances.
Pan African lifts revenue 45% on gold rally, boosts dividend by 68%, ups FY2026 output guidance
CEO Cobus Loots says Pan African Resources expects to benefit from rising gold prices in FY2026 following a “historic rally” over the past two years, supported by central bank buying, geopolitical risk and supply constraints.
Iran reaches nuclear cooperation deal with IAEA after dispute
Iran and the IAEA reach new cooperation framework after 12-month dispute over nuclear inspections following Israeli and US strikes on Iranian facilities.