Africa News

Investments & Funding

Eni and partners approve FID for Baleine Phase 3 to triple oil output in Côte d’Ivoire

Eni, Petroci, and Vitol have reached a final investment decision for Phase 3 of the Baleine field development. This expansion targets a production increase to 150,000 barrels of oil and 200 million cubic feet of gas daily, utilizing a new FPSO unit to enhance regional energy security.

2 days ago • Cote dIvoire (Ivory Coast)

Oil & Gas

Weatherford secures deepwater completions contract from ExxonMobil affiliate in Nigeria

Weatherford International has secured a contract from ExxonMobil affiliate Esso Exploration & Production Nigeria to provide integrated deepwater completion services, leveraging its global supply chain and local infrastructure to optimize offshore well integrity and efficiency.

2 days ago • Nigeria

Chemicals & Fertilizers

AfDB provides €450 million partial credit guarantee to OCP Group for green financing

The African Development Bank Group has signed a €450 million partial credit guarantee agreement with OCP Group to support a €530 million green financing facility by Société Générale and BNP Paribas. The first mechanism of its kind in Morocco, it supports OCP's 2023-2030 investment programme for low-carbon fertiliser production, renewable energy, and sustainable water management.

5 days ago • Morocco

Oil & Gas

Oceaneering wins integrated Offshore installation contract for Egypt's WDDM gas field

Oceaneering’s Offshore Projects Group has been awarded an integrated offshore installation contract by Burullus Gas Company for the West Delta Deep Marine gas field offshore Egypt, including transport, installation, and commissioning of a refurbished umbilical and a 2,000-meter TCP flowline, with work expected to generate meaningful revenue in 2026.

7 days ago • Egypt

Renewable Energy

AMEA Power commissions 120 MW solar plant in South Africa under REIPPPP BW6 programme

AMEA Power has commissioned its 120 MWp Doornhoek Solar PV Project in South Africa's North West Province, the first project under REIPPPP BW6 programme to reach commercial operations. The USD 120 million facility, generating 325 GWh annually for 97,000 households, was financed by Standard Bank and the Industrial Development Corporation, with local women-owned partners.

7 days ago • South Africa

Agriculture & Farming

EBRD lends $60 million to Dorado for cashew processing and sustainable sourcing in Côte d'Ivoire

The European Bank for Reconstruction and Development has provided a US$60 million sustainability-linked loan to Dorado to strengthen agribusiness value chains in Côte d'Ivoire. The financing will increase raw cashew nut sourcing for local processing and export, while introducing climate-smart practices, deforestation risk assessment, and Rainforest Alliance certification for at least 4,000 farmers.

2 weeks ago • Cote dIvoire (Ivory Coast)

Waste & Recycling

Climate Investor Three backs green methanol project in Gauteng using sewage sludge

Climate Investor Three, through its SA-H2 Fund, has signed a development funding agreement with Green eFuels Producers for a green methanol facility in Gauteng, South Africa. The project will process 90,000 tonnes of municipal sewage sludge annually, using renewable energy to produce 14,300 tonnes of green methanol, avoiding approximately 118,950 tonnes of CO₂ equivalent emissions per year.

2 weeks ago • South Africa

Islamic Finance

Uganda prepares inaugural sovereign Sukuk to fund 15% of $3.17bn standard gauge railway

Uganda is in advanced stages of issuing its first sovereign sukuk to cover 15% of a $3.17 billion Standard Gauge Railway project, with 60% expected from export credit agencies and 25% from development finance institutions.

2 weeks ago • Uganda

Investments & Funding

AfDB approves $61 million financing package for women-led businesses in Nigeria

The African Development Bank has approved a $61 million financing package for the Development Bank of Nigeria, combining a $50 million gender-focused line of credit, an $8 million concessional facility for agri-food SMEs, and a $3 million AFAWA grant. Over 95% of the financing is earmarked for women-owned and women-led enterprises, particularly in agriculture.

2 weeks ago • Nigeria

Investments & Funding

World Bank approves $1 billion for Egypt reforms to boost private sector jobs

The World Bank Group has approved US$1 billion in financing for Egypt, including a US$200 million credit guarantee from the UK, to support private sector-led job creation, macroeconomic resilience, and green transition. The GROWTH II DPF backs reforms in state-owned enterprise governance, tax policy, and social safety net integration, following exchange-rate unification and fiscal discipline measures.

2 weeks ago • Egypt

Engineering & EPC

GHV Infra Projects secures EUR 630 million EPC contract for Cameroon tyre plant

Indian infrastructure firm GHV Infra Projects has received a letter of intent for a EUR 630 million greenfield tire manufacturing facility in Cameroon. The project, located in Douala, will produce 7.6 million tires annually, marking a significant expansion of industrial capacity in the central African region.

3 weeks ago • Cameroon

Agriculture & Farming

IFAD lends $59.75m for Burkina Faso agricultural infrastructure and food sovereignty project

IFAD has signed a $59.75 million loan agreement with Burkina Faso for the six-year ORIAM-SA project, targeting 60,000 rural people across three regions with climate-resilient agricultural infrastructure, value chain support, and inclusion measures for women and youth.

3 weeks ago • Burkina Faso

Power & Utilities

GE Vernova to modernise two Egyptian power plants with AGP upgrades

GE Vernova has received an order from Middle Delta Electricity Production Company to modernise the Banha and Nubaria power plants in Egypt. The project includes Advanced Gas Path upgrades for two 9F gas turbines at Banha, along with 15-year and 8-year service agreements, aiming to improve efficiency by approximately 2%.

4 weeks ago • Egypt

Power & Utilities

Jakson Infra secures $62.22 million EPC contract for Angola power distribution upgrade

Indian infrastructure specialist Jakson Infra has been awarded a $62.22 million contract by Angola’s Ministry of Energy & Water. Funded by the World Bank, the project focuses on rehabilitating and modernizing the power distribution network in Luanda to enhance energy reliability and expand electricity access across the capital city.

4 weeks ago • Angola