Category: Africa

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On June 25, 2025, President Xi Jinping exchanged congratulatory messages with Mozambican President Daniel Francisco Chapo to celebrate the 50th anniversary of the establishment of China-Mozambique diplomatic relations.

Xi Jinping noted that over the past 50 years since the establishment of diplomatic relations, regardless of changes in the international landscape, China and Mozambique have trusted and supported each other, and the friendship between the two countries remains rock-solid. Xi Jinping expressed his firm belief that bilateral relations will surely usher in a brighter future as long as both sides uphold the original aspiration of establishing diplomatic relations and move forward hand in hand. Xi Jinping said he attaches great importance to the development of China-Mozambique relations and is ready to work with Mr. President Daniel Francisco Chapo to take the 50th anniversary of the establishment of diplomatic relations as a new starting point to carry forward traditional friendship, deepen mutually beneficial cooperation within the frameworks of high-quality Belt and Road cooperation and the Forum on China-Africa Cooperation, and jointly write a new chapter in the comprehensive strategic cooperative partnership between China and Mozambique.

Daniel Francisco Chapo stated that the 50th anniversary of the establishment of diplomatic relations between the two countries coincides with the 50th anniversary of Mozambique’s independence, which highlights the traditional friendship and brotherhood between the two nations. He expressed gratitude for China’s unconditional support in Mozambique’s struggle for independence. Mozambique will continue to abide by the one-China principle, support all efforts made by the Chinese government to achieve national reunification, and back the major initiatives proposed by China. Mozambique is willing to continuously deepen bilateral relations with China on the basis of mutual respect, mutual benefit and win-win outcomes, expand practical cooperation, jointly defend multilateralism, and promote world peace, security and prosperity.

Distributed by APO Group on behalf of Ministry of Foreign Affairs of the People’s Republic of China.

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The years prior to 2024 proved to be very difficult globally. In Ghana, we saw the most ignoble deterioration of the economy and broader societal well-being. Inflation galloped, exchange rate depreciated sharply and remained volatile. Interest rates rose and credit became simply unaffordable. Ghana, therefore had no option but to seek support from the IMF through the Extended Credit Facility (ECF) programme on the heels of an expansive domestic and external debt restructuring which had severe consequences.

In that context, the year 2024, being an election year, was uniquely significant. The Government set for itself macro-economic targets focused on re-anchoring fiscal and debt sustainability. The promise was to course-correct the misalignment in key indicators to support the economy.

Despite the progress made under the IMF programme, the macroeconomic environment remained fragile. The economy remained fragile, with 2024 recording significant fiscal slippages. The Primary deficit worsened, and the year ended with accumulation of huge central government arrears amounting to GH¢67.5 billion representing 5.7 percent of GDP.

The lessons from this challenging national economic experience are there for everyone: fiscal slippages are costly and far-reaching. These experiences validate the prudence in requiring the preparation of the Annual Budget Performance Report (BPR) as part of the Public Financial Management Act, 2016 (Act 921), as amended. Beyond meeting the requirements of the PFM Act, the BPR enables us to assess the performance and impact of our policy choices and take corrective measures where necessary. Furthermore, in accordance with the provisions of Section 27 of the PFM Act, stakeholders will receive updates on the actions taken to implement the recommendations of Parliament in respect of the report of the Auditor-General as well as updates on multi-year expenditure undertaken in 2024.

I must state that the key lessons from this BPR will guide our choices in the post-2024 era as we work to reset economy towards the Ghana we want. We must, and we will, build a new culture that promotes and sustains fiscal discipline.

As is always the case, this BPR is the product of cross-sectoral collaborations. The Ministry of Finance is thankful to the Ministries, Departments and Agencies who provided critical inputs and validated information. The efforts of the staff of this Ministry, who have coordinated the preparation of this BPR, are also acknowledged. Your sense of professionalism and commitment to the national cause is indeed endearing. As a Ministry, we will stand ready to provide clarification and respond to any related queries through the established channels, including the Right to Information Platform.

A new era is upon us. We have a great opportunity to rewrite our most recent economic history in a positive light. Let us join forces and work together to build the Ghana we want. It is our promise and duty to do so.

Distributed by APO Group on behalf of Ministry of Finance – Republic of Ghana.

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Teddy Lwamba, Minister of Hydraulic Resources and Electricity of the Democratic Republic of Congo (DRC), has confirmed his participation as a speaker at African Mining Week (AMW), taking place from October 1–3, 2025, in Cape Town under the theme, From Extraction to Beneficiation: Unlocking Africa’s Mineral Wealth.

Minister Lwamba will join the panel, Powering Africa’s Mining Operations with Renewables, highlighting the DRC’s efforts to integrate renewable energy and modern infrastructure into its mining value chain.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

The event provides a strategic platform for Minister Lwamba to emphasize growing collaboration between the mining and power sectors, aimed at unlocking the DRC’s estimated $24 trillion in untapped mineral wealth. The DRC is currently the world’s leading cobalt producer, accounting for over 70% of global supply, and Africa’s largest copper producer.

In June 2025, the DRC began construction of the 64 MW Katende Hydroelectric Power Plant (http://apo-opa.co/3FY1EQV), set to power key mining areas including Kananga, Bunkonde, Tshimbulu and Mbuji-Mayi. In partnership with the African Development Bank’s Mission 300 energy access initiative, the DRC aims to triple GDP by expanding electricity access for residential, industrial, and mining users. Through the $340 million Moyi Power Metro-Grids project (http://apo-opa.co/4ehPCOS), the government will also deliver reliable electricity to over one million people and businesses in Bumba, Isiro and Gemena.

Further advancing the country’s energy ecosystem, a $634 million government-backed program (http://apo-opa.co/4eFqxhf) – supported by the World Bank and Green Climate Fund – was launched in March 2025 to expand generation capacity and rehabilitate transmission networks across 14 towns.

Under Minister Lwamba’s leadership, the Ministry has also fostered an enabling environment for private investment. Canadian mining firm Ivanhoe Mines (http://apo-opa.co/4erkLQa) has committed $200 million to stabilize the southern DRC grid, while mining firms including CMOC and ERG are investing in dedicated on-site generation and transmission infrastructure.

AMW 2025 presents a timely opportunity for Minister Lwamba to engage with key energy and mining stakeholders and forge new partnerships to scale up infrastructure and drive sectoral growth. His participation also reinforces the DRC’s commitment to sustainable resource development and regional energy cooperation.

Distributed by APO Group on behalf of Energy Capital & Power.

Africa’s premier energy event, African Energy Week (AEW) 2025: Invest in African Energies, will welcome Arne Jacobsen, CEO of international drilling contractor Northern Ocean, as a featured speaker. As operator of two of the world’s most advanced offshore drilling rigs, Northern Ocean’s participation is vital to discussions on Africa’s offshore hydrocarbons potential and the strategic role that service companies play in unlocking that potential. 

Under Jacobsen’s leadership, Northern Ocean has expanded its footprint across Africa with its Deepsea Mira and Deepsea Bollsta rigs supporting major offshore projects since 2022. Notably, the Deepsea Mira played a key role in appraising TotalEnergies’ landmark Venus oil discovery offshore Namibia in 2024 and continued operations in the Orange Basin with the Tamboti-1X exploration well in early 2025. 

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event. 

In Q2 2025, the Deepsea Bollsta completed a one-well contract with a Chevron subsidiary in Namibia. Currently undergoing maintenance, the rig will remain stationed in Africa throughout 2025, underscoring Northern Ocean’s commitment to expanding its presence in the continent’s upstream oil and gas sector. In Ghana, Northern Ocean is advancing its strategic partnership with Springfield Group, following a successful well test on the Afina 1X appraisal well in Q4 2024. Plans are underway for a long-term field development contract utilizing the Deepsea Bollsta, expected to commence by mid-2025. 

“Increasing offshore exploration is key to unlocking Africa’s vast energy resources and driving sustainable economic growth across the continent. Northern Ocean’s advanced drilling capabilities and steadfast commitment will play a critical role in transforming Africa’s estimated reserves into tangible development outcomes that benefit millions,” says NJ Ayuk, Executive Chairman, African Energy Chamber.  

As major operators prepare to scale up exploration activities in South Africa and Namibia through 2025 and beyond, Northern Ocean is well-positioned to capitalize on this growth. AEW 2025: Invest in African Energies provides an ideal forum for Jacobsen to engage with governments, national oil companies and private sector leaders to forge long-term partnerships and secure new contracts. 

Distributed by APO Group on behalf of African Energy Chamber.