Mozambique Invites African Entrepreneurs to Partner in $20 Billion LNG Project Mozambican President Daniel Chapo has called on African business leaders, particularly from Mozambique and Rwanda, to form partnerships supporting the logistics and supply chain of a major Liquefied Natural Gas (LNG) project led by TotalEnergies. The $20 billion project had been suspended in 2021 following a terrorist attack on Palma, in Cabo Delgado province, but is now poised for resumption. Speaking at the Kigali
Angola–UAE Non-Oil Trade Hits $2.2 Billion, Boosting Logistics and Transport Growth Non-oil trade between Angola and the United Arab Emirates (UAE) reached US$2.2 billion in 2024, marking a 36% increase compared to 2019. This milestone reflects growing mutual trust, rising investment opportunities, and the consolidation of a long-term strategic alliance between the two nations. As part of this deepening partnership, new memorandums of understanding were signed with AD Ports Group to modernize Angola’s port and
African Solar Imports from China Soar 60%, Nigeria Overtakes Egypt as Second-Largest Market African nations are rapidly scaling up solar adoption, with imports of Chinese solar panels surging 60% in the 12 months through June, according to data from climate think tank Ember. China, which manufactures 80% of the world’s solar panels, remains the dominant global supplier. Over the period, 25 African countries imported at least 100 megawatts of solar capacity, compared with just 15
Nigeria’s Oil Exports to Asia at Risk as South Korea Boosts $100 Billion US Energy Imports Nigeria’s crude oil exports to Asia face renewed pressure after South Korea signed a $100 billion agreement to purchase US energy over the next four years, strengthening competition in one of Africa’s most critical markets. The deal, concluded during President Lee Jae-myung’s state visit to Washington, cements Seoul’s role as the largest Asian buyer of US crude. South Korea
Burkina Faso Increases Stake in West African Resources’ Gold Projects Under New Mining Code Burkina Faso’s largest gold producer and one of its biggest foreign investors, West African Resources (WAF), has implemented the revised 2024 mining code, raising the government’s free carried equity in its gold projects from 10% to 15%. The adjustment was confirmed in WAF’s interim financial report for the first half of 2025. WAF executive chairman Richard Hyde said the equity transfer
Angola Overtakes Botswana as World’s Top Diamond Producer for First Time in Two Decades For the first time in 20 years, Botswana has lost its crown as the world’s leading diamond producer by value, with Angola edging ahead in 2024, according to data from the Kimberley Process (KP). Botswana’s diamond output fell sharply to 18.13 million carats worth US$1.36 billion in 2024, down 27.8% in volume and 58.6% in value from the previous year. By
DRC Oil Prices Rise 1.8% to $67.7 per Barrel Despite Yearly Decline The price of a barrel of oil, one of the Democratic Republic of Congo’s (DRC) key export commodities, rose to US$67.7 on August 22, 2025, up from US$66.9 the previous week, marking a 1.8% increase, according to the Central Bank of Congo’s latest economic report. As of August 21, oil prices were still 9.1% lower than at the end of 2024 and down
Zambia Mandates ZCCM-IH to Formalize and Transform the Gold Mining Industry ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) announces that the Government of the Republic of Zambia has officially mandated the Company to spearhead the formalisation, development, and transformation of the country’s gold sector. This appointment represents a historic milestone in unlocking the full potential of Zambia’s gold mining industry. For decades, the sector has remained largely informal, characterised by limited structure, minimal value
Agogo FPSO Achieves Provisional Operational Readiness, Boosting Angola Oil Output The Agogo FPSO unit has been awarded a Provisional Operational Readiness Certificate (PORC), marking the start of its 15-year charter and operational lease. The certificate follows the commencement of production in July 2025 and formalizes the lease-and-operate agreement between FPSO developer Yinson Production and project operator Azule Energy. Yinson Production secured the contract with Azule Energy in 2023 for the provision, operation, and maintenance of
Republic of Congo Plans to Boost Oil Production to 500,000 BPD by 2030 The Republic of Congo has announced plans to increase national oil production to 500,000 barrels per day (bpd) by 2030 to meet growing domestic demand. Bruno Jean-Richard Itoua, Minister of Hydrocarbons, reported that cumulative oil production from January 1 to July 31 reached 56,945,552 barrels, averaging 268,000 bpd over 212 days—a 5.2% increase compared with the same period in 2024. The Minister
