Petrostates are currently confronted with significant challenges arising from the ongoing energy transition. The diminishing demand for oil and gas is exerting downward pressure on commodity prices, which in turn threatens future revenue streams.
The COP28 talks in Dubai to save the planet from a climate catastrophe look like they are going to fall at the first fence as the oil lobby and some big economies push for a “phasing down” of fossil fuels, rather than the “phasing out”.
Africa has the most profitable banking sector in the world and its massive unbanked population is creating enormous opportunities for incumbent banks and fintech companies alike.
Saudi Arabia is hosting its first ever Africa Summit, underscoring Crown Prince Mohammed bin Salman's (MbS) growing focus on African affairs.