Category: Africa

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Africa’s Economic Resilience Holds Firm Amid Global Headwinds, Says New African Development Bank (AfDB) Report

Source: APO

Despite ongoing regional and global headwinds, Africa continues to demonstrate impressive resilience and maintains its status as a global growth frontier. This is the headline finding of the 2026 Africa Macroeconomic Performance and Outlook (MEO) report, released by the African Development Bank Group (www.AfDB.org) on Monday 30 March 2026 at the Bank Group headquarters in Abidjan.

The report underscores that Africa outpaced the global average in 2025 as real GDP surged to 4.2 percent, up from 3.1 per cent in 2024, comfortably eclipsing the 3.1 per cent world average.

A key finding in the report is the “broad-based” surge, with growth exceeding 5 per cent in 22 African countries, and topping 7 per cent in six, bolstered by easing inflationary pressures, improved macroeconomic management and favourable agricultural conditions.

Other highlights include:

  • Africa’s real GDP growth is projected to stabilise at 4.3 percent in 2026 and grow further to 4.5 percent in 2027.
  • 12 of the 20 fastest-growing economies in the world in 2025 were African.
  • In 2025, East Africa maintained its lead as the continent’s fastest-growing region (posting 6.4 percent GDP growth), with its expansion driven by the surge in growth performances of 9.8 per cent in Ethiopia, 7.5 per cent in Rwanda, and 6.4 per cent in Uganda.
  • Africa’s GDP per capita growth rose from 0.9% in 2023 to 1.1% in 2024 and 1.9% in 2025, but still remains too low to propel rapid poverty reduction.
  • Inflation is declining, with average inflation estimated at 13.6 percent in 2025, down from 21.8 percent in 2024; further reductions are projected for 2026 and 2027.
  • Foreign direct investment rebounded sharply in 2024, rising by more than 75% to reach $97 billion.
  • Remittance flows rebounded strongly in 2024, rising by more than 14 percent to $104.6 billion—offsetting the 6 percent decline recorded in 2023 and making remittances the largest single source of external non-debt financing, surpassing foreign portfolio investment.

In his high-level remarks at the launch, the President of the African Development Bank Group, Dr Sidi Ould Tah, underscored that the continent faces an “important moment when the world is changing, not always in favour of the African continent.” Citing a difficult landscape of increasing geopolitical fragmentation, trade tensions, and declining global development finance flows, Dr Ould Tah positioned the Bank Group’s Four Cardinal Points agenda as a vital strategic shield, explaining that “each one speaks directly to the challenges this Macro Economic Outlook report has identified and quantified.”

In light of recent developments in the Middle East, Dr Ould Tah noted that the 2026 MEO analysis and projections “were prepared before the current crisis” began. He added that the Bank Group and partners, including the United Nations Development Programme are currently assessing the potential consequences of the crisis on the continent.

In his detailed presentation, the Bank Group Chief Economist and Vice President for Economic Governance and Knowledge Management, Prof Kevin Urama, expressed optimism that the current crisis would have a limited impact on Africa’s macroeconomic landscape in 2026.

“Africa has held strong in previous shocks, and has the capacity to bounce back after, provided we do not panic and we instead apply the right policy levers,” he said. “In our estimates, if the crisis lasts beyond three months, it might cause a dip of 0.2 percentage point in Africa’s economic growth rate in 2026.”

An expert-led panel followed the presentation and explored the report’s findings and policy recommendations aimed at sustaining growth, strengthening financial systems, and mobilising development finance at scale. Panellists included Souleymane Diarrassouba, the Minister of Planning and Development of Côte d’Ivoire; Augustine Kpehe Ngafuan, Minister of Finance and Development Planning of Liberia; Prof Mthuli Ncube, Minister of Finance of Zimbabwe; Dr Retselisitsoe Matlanyane, Minister of Finance and Development Planning of Lesotho; and Mrs Aminata Toure, the International Monetary Fund Resident Representative for Côte d’Ivoire.

The panelists emphasised the importance of sustaining reforms linked to domestic resource mobilisation, including deepening local equity and fixed-income markets, and scaling digitalisation efforts to improve the efficiency of tax collection. They also shared success stories from ongoing reforms in their respective countries. A consensus emerged that Africa’s experiences with shocks can position the continent to draw on valuable lessons to weather current and future challenges.

The African Development Bank Group publishes the Macroeconomic Report biannually to complement its annual Africa Economic Outlook. Dr Ould Tah described the series as a demonstration of “the Bank’s commitment to provide our member countries, our partners and our investors with the most rigorous, timely and actionable analysis.”

Download the 2026 Africa’s MEO Report: [English] (http://apo-opa.co/4s9M46w) | [French] (http://apo-opa.co/4v3uC6F) | [Portuguese] (http://apo-opa.co/4bKING0) | [Arabic] (http://apo-opa.co/3NTLHPF)

Watch the event recording: [YouTube – EN] (http://apo-opa.co/4scYNpd)  | [YouTube – FR] (http://apo-opa.co/41IdrK7)

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media Contact:
Communication and External Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF), and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states.

For more information: www.AfDB.org

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La résilience économique de l’Afrique tient bon malgré les vents contraires mondiaux, selon un nouveau rapport de la Banque africaine de développement

Source: Africa Press Organisation – French

Malgré les vents contraires qui soufflent actuellement à l’échelle régionale et mondiale, l’Afrique continue de faire preuve d’une résilience remarquable et conserve son statut de frontière mondiale de croissance. Telle est la principale conclusion du rapport « Performances et perspectives macroéconomiques de l’Afrique 2026 » (MEO), présenté par le Groupe de la Banque africaine de développement (www.AfDB.org) le lundi 30 mars 2026, à son siège à Abidjan.

Le rapport souligne que l’Afrique a affiché une croissance supérieure à la moyenne mondiale en 2025, avec un PIB réel qui a bondi à 4,2 %, contre 3,1 % en 2024, dépassant largement la moyenne mondiale de 3,1 %.

L’une des principales conclusions du rapport est la forte poussée de la croissance, qui a dépassé 5 % dans 22 pays africains et 7 % dans six d’entre eux. Cette croissance a été soutenue par l’atténuation des pressions inflationnistes, l’amélioration de la gestion macroéconomique et une conjoncture agricole favorable.

Parmi les autres faits saillants, il convient de citer ce qui suit :

  • La croissance du PIB réel de l’Afrique devrait se stabiliser à 4,3 % en 2026 et atteindre 4,5 % en 2027.
  • 12 des 20 économies à la croissance la plus rapide au monde en 2025 étaient africaines.
  • En 2025, l’Afrique de l’Est est restée la région du continent qui a connu la croissance la plus rapide (avec une croissance du PIB de 6,4 %), grâce aux excellentes performances de croissance de l’Éthiopie (9,8 %), du Rwanda (7,5 %) et de l’Ouganda (6,4 %).
  • La croissance du PIB par habitant de l’Afrique est passée de 0,9 % en 2023 à 1,1 % en 2024 et 1,9 % en 2025, mais demeure trop faible pour impulser une réduction rapide de la pauvreté.
  • L’inflation est en baisse, avec une moyenne estimée à 13,6 % en 2025, contre 21,8 % en 2024 ; de nouvelles baisses sont prévues pour 2026 et 2027.
  • Les investissements directs étrangers ont fortement rebondi en 2024, progressant de plus de 75 % pour atteindre 97 milliards de dollars.
  • Les flux de transferts de fonds ont également connu une forte reprise en 2024, augmentant de plus de 14 % pour s’établir à 104,6 milliards de dollars, compensant ainsi le recul de 6 % enregistré en 2023 et faisant des transferts de fonds la principale source de financement extérieur hors dette, devant les investissements de portefeuille étrangers.

Dans son allocution de haut niveau prononcée lors du lancement, le président du Groupe de la Banque africaine de développement, M. Sidi Ould Tah, a souligné que le continent se trouvait à un « moment crucial où le monde évolue, parfois au détriment du continent africain ». Évoquant un contexte difficile marqué par une fragmentation géopolitique accrue, des tensions commerciales et une baisse des flux financiers mondiaux destinés au développement, Dr Ould Tah a présenté le programme des Quatre points cardinaux du Groupe de la Banque comme un rempart stratégique essentiel, expliquant que « chacun d’entre eux répond directement aux défis identifiés et quantifiés dans ce rapport sur les perspectives macroéconomiques ».

À la lumière des récents développements au Moyen-Orient, M. Ould Tah a noté que l’analyse et les projections du rapport « Perspectives macroéconomiques 2026 » « avaient été préparées avant le début de la crise actuelle ». Il a ajouté que le Groupe de la Banque et ses partenaires, notamment le Programme des Nations unies pour le développement, évaluent actuellement les conséquences potentielles de cette crise sur le continent.

Dans sa présentation détaillée, l’économiste en chef et vice-président chargé de la Gouvernance économique et de la gestion des connaissances du Groupe de la Banque, M. Kevin Urama, s’est montré optimiste quant à l’impact limité de la crise actuelle sur le paysage macroéconomique de l’Afrique en 2026.

« L’Afrique a bien résisté aux chocs précédents et a la capacité de rebondir ensuite, à condition de ne pas céder à la panique et, au contraire, d’utiliser les leviers politiques appropriés », a-t-il déclaré. « Selon nos estimations, si la crise dure plus de trois mois, elle pourrait entraîner une baisse de 0,2 point de pourcentage du taux de croissance économique de l’Afrique en 2026. »

Après la présentation, une table ronde d’experts a examiné les conclusions du rapport et les recommandations politiques visant à soutenir la croissance, à renforcer les systèmes financiers et à mobiliser le financement du développement à grande échelle. Parmi les intervenants figuraient Souleymane Diarrassouba, ministre de la Planification et du Développement de la Côte d’Ivoire ; Augustine Kpehe Ngafuan, ministre des Finances et de la Planification du développement du Liberia ; Mthuli Ncube, ministre des Finances du Zimbabwe ; Retselisitsoe Matlanyane, ministre des Finances et de la Planification du développement du Lesotho ; et Mme Aminata Toure, représentante résidente du Fonds monétaire international pour la Côte d’Ivoire.

Les panélistes ont souligné l’importance de soutenir les réformes liées à la mobilisation des ressources intérieures, notamment l’approfondissement des marchés locaux d’actions et de titres à revenu fixe, et l’intensification des efforts de numérisation pour améliorer l’efficacité de la collecte des impôts. Ils ont également partagé des exemples de réussite tirés des réformes en cours dans leurs pays respectifs. Un consensus s’est dégagé autour du fait que les expériences de l’Afrique en matière de chocs peuvent permettre au continent de tirer de précieux enseignements pour surmonter les défis actuels et futurs.

Le Groupe de la Banque africaine de développement publie ce rapport macroéconomique deux fois par an, en complément du rapport Perspectives économiques en Afrique publié annuellement. Le président de la Banque, Sidi Ould Tah a décrit cette série comme une démonstration de « l’engagement du Groupe de la Banque à fournir à ses pays membres, à ses partenaires et à ses investisseurs les analyses les plus rigoureuses, les plus opportunes et les plus exploitables ».

Télécharger le rapport 2026 Africa’s MEO : [English] (http://apo-opa.co/4s9M46w) | [French] (http://apo-opa.co/4v3uC6F) | [Portuguese] (http://apo-opa.co/4bKING0) | [Arabic] (http://apo-opa.co/3NTLHPF)

Voir la vidéo de l’événement : [YouTube – EN] (http://apo-opa.co/4scYNpd) | [YouTube – FR] (http://apo-opa.co/41IdrK7)

Distribué par APO Group pour African Development Bank Group (AfDB).

Contact :
Département de la communication et des relations extérieures
media@afdb.org

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Le Sénégal et le Nigeria renforcent leurs liens dans le domaine énergétique alors qu’une visite ministérielle annonce une nouvelle ère de collaboration africaine

Source: Africa Press Organisation – French


Le Sénégal et le Nigeria renforcent leur coopération bilatérale dans le domaine de l’énergie à la suite d’une visite de travail de haut niveau effectuée cette semaine à Abuja par le ministre sénégalais de l’Énergie, Birame Soulèye Diop, et des représentants de la compagnie pétrolière nationale (NOC) Petrosen. La délégation sénégalaise a rencontré le ministre d’État nigérian chargé des ressources pétrolières (pétrole), le sénateur Heineken Lokpobiri, ainsi que la Compagnie nationale nigériane du pétrole (NNPC), les parties s’engageant à renforcer leur coopération dans divers domaines. Cette visite reflète l’engagement croissant des producteurs africains à travailler ensemble dans les domaines du raffinage, de l’élaboration des politiques, de la monétisation du gaz et de la collaboration entre les SNP – une stratégie qui devrait renforcer la croissance énergétique et l’industrialisation en Afrique.

Représentant la voix du secteur énergétique africain, la Chambre africaine de l’énergie (AEC) a salué cette collaboration, soulignant que le renforcement des liens entre les producteurs africains est essentiel à un moment où le continent cherche à attirer des investissements, à construire des infrastructures et à développer le commerce intra-africain de l’énergie. Une coopération accrue entre les ministères et les SNP telles que Petrosen et la NNPC a le potentiel de favoriser le partage des connaissances, de renforcer les capacités institutionnelles et d’accélérer le développement de projets stratégiques tout au long de la chaîne de valeur du pétrole et du gaz, de la production en amont au raffinage et à la commercialisation du gaz. Cette collaboration intervient également alors que les pays africains s’efforcent de rendre opérationnelle la Banque africaine de l’énergie, le Sénégal ayant déjà versé sa contribution au capital et se positionnant comme un participant actif au financement des projets énergétiques africains.

« C’est exactement le type de collaboration dont l’Afrique a besoin. Lorsque des pays comme le Sénégal et le Nigeria travaillent ensemble – en partageant leurs connaissances, en construisant des infrastructures, en renforçant les SNP et en améliorant les politiques –, nous créons un environnement propice aux investissements et permettant à l’Afrique de prendre en main son avenir énergétique. Des partenariats solides entre les nations africaines constitueront le fondement de la sécurité énergétique, de l’industrialisation et de la croissance économique sur l’ensemble du continent », déclare NJ Ayuk, président exécutif de l’AEC.

Cette collaboration intervient à un moment charnière pour l’Afrique de l’Ouest, le Sénégal et le Nigeria cherchant tous deux à étendre leurs marchés respectifs en amont et en aval. Pour le Sénégal, la collaboration avec le Nigeria pourrait servir de catalyseur pour renforcer les structures de gouvernance et rationaliser les procédures d’octroi de licences, renforçant ainsi l’attractivité du pays pour les capitaux étrangers alors qu’il cherche à augmenter sa production et à stimuler le commerce régional. Les récentes avancées ont non seulement positionné le Sénégal comme un marché producteur, mais ont également démontré son potentiel pour des investissements évolutifs.

Suite au démarrage des opérations sur le champ pétrolier de Sangomar et du projet de GNL Greater Tortue Ahmeyim (GTA) en 2024 et 2025 respectivement, le Sénégal s’est attaché à augmenter sa production. La production de Sangomar s’est stabilisée à environ 100 000 barils par jour, avec 36,1 millions de barils produits pour la seule année 2025. De février 2025 à février 2026, GTA a exporté 24 cargaisons de GNL, ainsi que 1,6 million de barils de condensats commercialisés à l’international.

À l’avenir, le pays envisage d’agrandir ces deux installations, tout en poursuivant le développement du projet offshore Yakaar-Teranga. Le pays cherche également à monétiser ses ressources terrestres. Petrosen a lancé une campagne d’exploration de 100 millions de dollars ciblant des bassins terrestres sous-explorés, avec pour objectif d’identifier de nouvelles découvertes de pétrole brut d’ici fin 2026 grâce à l’acquisition de données sismiques, à la modélisation des bassins et à des programmes de forage exploratoire.

Le Nigeria, quant à lui, reste le plus grand producteur de pétrole d’Afrique et poursuit des objectifs de production ambitieux d’environ 2 millions de barils par jour tout en développant simultanément ses secteurs du gaz et du raffinage.

Pour atteindre cet objectif, le pays a lancé un cycle d’octroi de licences pour 2025 comprenant 50 blocs pionniers et un bloc en eaux profondes. Ce cycle vise à attirer 10 milliards de dollars d’investissements au cours de la prochaine décennie. Parallèlement, le pays réengage les compagnies pétrolières internationales (CPI) dans l’exploration en eaux profondes, Chevron, ExxonMobil et Shell menant toutes des projets offshore. La NNPC poursuit également une ambitieuse offensive en amont, visant 30 milliards de dollars d’investissements d’ici 2030.

En aval, le pays envisage d’étendre la capacité de la raffinerie Dangote, qui est actuellement de 650 000 barils par jour, à 1,4 million de barils par jour, tandis que la délivrance de permis d’accès au gaz de torchère à 28 adjudicataires en décembre 2025 devrait débloquer 2 milliards de dollars d’investissements dans le gaz. La coopération avec le Sénégal s’inscrit donc dans la stratégie plus large du Nigeria visant à renforcer les marchés énergétiques africains tout en développant le commerce régional tant pour le pétrole brut que pour les produits raffinés.

Le renforcement des liens entre le Sénégal et le Nigeria marque un tournant plus large dans le secteur énergétique africain, où la collaboration – plutôt que la concurrence – est de plus en plus considérée comme la clé pour débloquer les investissements, développer les infrastructures et garantir la sécurité énergétique à long terme. En collaborant dans les domaines du raffinage, de la monétisation du gaz, de l’élaboration des politiques et du financement de l’énergie, le Sénégal et le Nigeria contribuent à créer un précédent sur la manière dont les marchés énergétiques africains peuvent se renforcer grâce au partenariat, à l’intégration et à des objectifs stratégiques communs.

Distribué par APO Group pour African Energy Chamber.

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Senegal e Nigéria aprofundam laços energéticos, com visita ministerial a assinalar uma nova era de colaboração africana

Source: Africa Press Organisation – Portuguese –

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O Senegal e a Nigéria estão a reforçar a cooperação energética bilateral na sequência de uma visita de trabalho de alto nível do Ministro da Energia do Senegal, Birame Soulèye Diop, e de representantes da empresa petrolífera nacional (NOC) Petrosen a Abuja, esta semana. A delegação senegalesa reuniu-se com o Ministro de Estado dos Recursos Petrolíferos (Petróleo) da Nigéria, o Senador Heineken Lokpobiri, e com a Companhia Nacional de Petróleo da Nigéria (NNPC), tendo as partes assumido o compromisso de reforçar a cooperação em vários domínios. A visita reflete um compromisso crescente por parte dos produtores africanos de trabalharem em conjunto na refinação, no desenvolvimento de políticas, na monetização do gás e na colaboração entre as NOC – uma estratégia que se espera que reforce o crescimento energético e a industrialização africanos.

Representando a voz do setor energético africano, a Câmara Africana de Energia (AEC) acolheu com agrado a colaboração, salientando que laços mais fortes entre os produtores africanos são fundamentais numa altura em que o continente procura atrair investimento, construir infraestruturas e expandir o comércio intra-africano de energia. Uma maior cooperação entre ministérios e NOCs, como a Petrosen e a NNPC, tem o potencial de apoiar a partilha de conhecimentos, reforçar a capacidade institucional e acelerar o desenvolvimento de projetos estratégicos em toda a cadeia de valor do petróleo e do gás, desde a produção a montante até à refinação e comercialização de gás. A colaboração surge também num momento em que os países africanos trabalham para operacionalizar o Banco Africano de Energia, tendo o Senegal já pago a sua contribuição de capital e posicionando-se como um participante ativo no financiamento de projetos energéticos africanos.

«Este é exatamente o tipo de colaboração de que África precisa. Quando países como o Senegal e a Nigéria trabalham em conjunto – partilhando conhecimentos, construindo infraestruturas, reforçando as NOC e melhorando as políticas – criamos um ambiente onde o investimento pode prosperar e onde África pode assumir o controlo do seu futuro energético. Parcerias sólidas entre as nações africanas serão a base da segurança energética, da industrialização e do crescimento económico em todo o continente», afirma NJ Ayuk, Presidente Executivo da AEC.

A colaboração surge num momento crucial para a África Ocidental, com o Senegal e a Nigéria a procurarem expandir os seus respetivos mercados a montante e a jusante. Para o Senegal, a colaboração com a Nigéria poderá servir de catalisador para estruturas de governação mais sólidas e procedimentos de licenciamento simplificados, aumentando a atratividade do país para o capital estrangeiro, à medida que procura aumentar a produção e reforçar o comércio regional. Os marcos recentes não só posicionaram o Senegal como um mercado produtor, como demonstraram o seu potencial para investimentos escaláveis.

Na sequência do início das operações no campo petrolífero de Sangomar e no projeto de desenvolvimento de GNL Greater Tortue Ahmeyim (GTA) em 2024 e 2025, respetivamente, o Senegal tem vindo a trabalhar para aumentar a produção. A produção de Sangomar estabilizou-se em cerca de 100 000 bpd, com 36,1 milhões de barris produzidos só em 2025. De fevereiro de 2025 a fevereiro de 2026, o GTA exportou 24 cargas de GNL, a par de 1,6 milhões de barris de condensado comercializados internacionalmente.

Olhando para o futuro, o país pretende expandir ambas as instalações, ao mesmo tempo que avança com o desenvolvimento do projeto offshore Yakaar-Teranga. O país está também a estudar a monetização dos recursos onshore. A Petrosen lançou uma campanha de exploração de 100 milhões de dólares direcionada para bacias terrestres pouco exploradas, com o objetivo de identificar novas descobertas de crude até ao final de 2026 através de aquisição sísmica, modelação de bacias e programas de perfuração exploratória.

Entretanto, a Nigéria continua a ser o maior produtor de petróleo de África e está a perseguir metas de produção ambiciosas de cerca de 2 milhões de bpd, ao mesmo tempo que expande os seus setores de gás e refinação.

Para atingir este objetivo, o país lançou uma ronda de licenciamento para 2025 que inclui 50 blocos de fronteira e um bloco em águas profundas. A ronda tem como meta 10 mil milhões de dólares em investimento durante a próxima década. Paralelamente, o país está a reengajar as IOCs na exploração em águas profundas, com a Chevron, a ExxonMobil e a Shell a avançarem com projetos offshore. A NNPC está também a prosseguir com uma ambiciosa iniciativa no setor upstream, com o objetivo de 30 mil milhões de dólares em investimentos até 2030.

A jusante, o país pretende expandir a capacidade da Refinaria Dangote de 650 000 bpd para 1,4 milhões de bpd, enquanto a emissão de Licenças de Acesso a Gás de Queima a 28 adjudicatários em dezembro de 2025 deverá desbloquear 2 mil milhões de dólares em investimentos no gás. A cooperação com o Senegal alinha-se, portanto, com a estratégia mais ampla da Nigéria de fortalecer os mercados energéticos africanos, ao mesmo tempo que expande o comércio regional tanto de petróleo bruto como de produtos refinados.

O reforço dos laços entre o Senegal e a Nigéria sinaliza uma mudança mais ampla a ocorrer em todo o setor energético africano, onde a colaboração – em vez da concorrência – é cada vez mais vista como a chave para desbloquear o investimento, desenvolver infraestruturas e garantir a segurança energética a longo prazo. Ao trabalharem em conjunto na refinação, monetização do gás, desenvolvimento de políticas e financiamento energético, o Senegal e a Nigéria estão a ajudar a estabelecer um precedente sobre como os mercados energéticos africanos podem tornar-se mais fortes através da parceria, integração e objetivos estratégicos partilhados.

Distribuído pelo Grupo APO para African Energy Chamber.

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Senegal and Nigeria Deepen Energy Ties as Ministerial Visit Signals New Era of African Collaboration

Source: APO


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Senegal and Nigeria are strengthening bilateral energy cooperation following a high-level working visit by Senegal’s Minister of Energy Birame Soulèye Diop and representatives from national oil company (NOC) Petrosen to Abuja this week. The Senegalese delegation met with Nigeria’s Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri and the Nigerian National Petroleum Company (NNPC), with the parties committing to strengthening cooperation across various fields. The visit reflects a growing commitment by African producers to work together on refining, policy development, gas monetization and NOC collaboration – a strategy that is expected to strengthen African energy growth and industrialization. 

Representing the voice of the African energy sector, the African Energy Chamber (AEC) has welcomed the collaboration, noting that stronger ties between African producers are critical at a time when the continent is seeking to attract investment, build infrastructure and expand intra-African energy trade. Greater cooperation between ministries and NOCs such as Petrosen and NNPC has the potential to support knowledge sharing, strengthen institutional capacity and accelerate the development of strategic projects across the oil and gas value chain, from upstream production to refining and gas commercialization. The collaboration also comes as African countries work to operationalize the Africa Energy Bank, with Senegal having already paid its capital contribution and positioning itself as an active participant in financing African energy projects.

“This is exactly the kind of collaboration Africa needs. When countries like Senegal and Nigeria work together – sharing knowledge, building infrastructure, strengthening NOCs and improving policies – we create an environment where investment can thrive and where Africa can take control of its energy future. Strong partnerships between African nations will be the foundation of energy security, industrialization and economic growth across the continent,” states NJ Ayuk, Executive Chairman, AEC.

The collaboration comes as a pivotal time for West Africa, with both Senegal and Nigeria looking at expanding their respective upstream and downstream markets. For Senegal, collaboration with Nigeria could serve as a catalyst for stronger governance structures and streamlined licensing procedures, enhancing the country’s attractiveness for foreign capital as it looks to scale production and bolster regional trade. Recent milestones have not only positioned Senegal as a producing market but demonstrated its potential for scalable investments.

Following the start of operations at the Sangomar oilfield and Greater Tortue Ahmeyim (GTA) LNG development in 2024 and 2025 respectively, Senegal has been working to scale output. Sangomar production has stabilized at around 100,000 bpd, with 36.1 million barrels generated in 2025 alone. From February 2025 to February 2026, GTA exported 24 LNG cargoes, alongside 1.6 million barrels of condensate marketed internationally.

Looking ahead, the country is looking at expanding both facilities, while advancing the development of the Yakaar-Teranga offshore project. The country is also looking at monetizing onshore resources. Petrosen has launched a $100 million exploration campaign targeting underexplored onshore basins, with goals to identify new crude discoveries by late-2026 through seismic acquisition, basin modeling and exploratory drilling programs.

Nigeria, meanwhile, remains Africa’s largest oil producer and is pursuing ambitious production targets of around 2 million bpd while simultaneously expanding its gas and refining sectors. To achieve this goal, the country rolled out a 2025 licensing round featuring 50 frontier and one deepwater block. The round targets $10 billion in investment over the next decade. In tandem, the country is re-engaging IOCs in deepwater exploration, with Chevron, ExxonMobil and Shell all advancing offshore projects. The NNPC is also pursuing an ambitious upstream drive, targeting $30 billion in investments by 2030.

Downstream, the country is looking at expanding the 650,000 bpd Dangote Refinery’s capacity to 1.4 million bpd, while the issuance of Permits to Access Flare Gas to 28 awardees in December 2025 is set to unlock $2 billion in gas investments. Cooperation with Senegal therefore aligns with Nigeria’s broader strategy of strengthening African energy markets while expanding regional trade in both crude and refined products.

The strengthening of ties between Senegal and Nigeria signals a broader shift taking place across Africa’s energy sector, where collaboration – rather than competition – is increasingly being seen as the key to unlocking investment, developing infrastructure and ensuring long-term energy security. By working together on refining, gas monetization, policy development and energy financing, Senegal and Nigeria are helping to set a precedent for how African energy markets can grow stronger through partnership, integration and shared strategic objectives.

Distributed by APO Group on behalf of African Energy Chamber.

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Islamic Development Bank (IsDB) Institute Announces New Book Titled ‘Essentials of Islamic Finance’

Source: APO


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The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has announced the publication of ‘Essentials of Islamic Finance’, a new book offering an in-depth analysis of the foundational principles of Islamic finance and their relevance to addressing contemporary global economic challenges. The book was authored by Dr. Sami Al-Suwailem, Acting Director General of IsDBI.

Originally developed as a teaching note in 2011, the book has evolved into a substantially revised and expanded volume. It builds a systematic framework for understanding Islamic finance by integrating Sharīʿah principles, economic reasoning, and real‑world applications. This English edition reflects extensive updates to content, references, and examples, responding to contemporary developments such as global financial crises, post‑pandemic inflation, and rising concerns over debt sustainability.

The book focuses primarily on the principles of Islamic finance, emphasizing the ethical and economic foundations that distinguish it from conventional financial systems. It explores key concepts such as the prohibition of ribā (usury), the role of zakāh and non‑profit activities, the treatment of gharar (excessive risk), and the essential linkage between finance and real economic activity. By doing so, the book highlights Islamic finance as a moral and economic framework aimed at promoting justice, stability, and shared prosperity.

In a Foreword to the book, Prof. Bambang Susantono, a Member of IsDBI Board of Trustees, Professor of Urban and Regional Planning at Diponegoro University Indonesia, and former Vice President of the Asian Development Bank, said: “This work is both a rigorous scholarly contribution and a practical guide that bridges Islamic legal principles with contemporary economic thought. The author presents the foundational principles of Islamic finance from an intellectually grounded perspective, while also introducing their relevance of these principles to the global financial systems.”

‘Essentials of Islamic Finance’ is primarily aimed at economists, finance professionals, policymakers, regulators, and researchers who seek a structured and intellectually grounded understanding of Islamic finance. It also remains accessible to readers with an interest in Sharīʿah‑based economic systems, making it a valuable resource for academic instruction, policy dialogue, and professional reference.

The publication forms part of IsDBI’s broader mandate to advance knowledge and capacity building in Islamic economics and finance, and to contribute to the development of more resilient, inclusive, and ethical financial systems worldwide.

The book can be accessed on IsDBI website here (https://IsDBInstitute.org/product/essentials-of-islamic-finance/).

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

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About the IsDB Institute:
The Islamic Development Bank Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by the principles of Islamic economics and finance, the IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. The IsDB Institute enables economic development through pioneering research, human capital development, and knowledge creation, dissemination, and management. The Institute leads initiatives to enable Islamic finance ecosystems, ultimately helping Member Countries achieve their development objectives. More information about the IsDB Institute is available on https://IsDBInstitute.org

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West African Development Bank (BOAD) and International Finance Corporation (IFC) strengthen their strategic partnership to support development and job creation across West African Economic and Monetary Union (WAEMU)

Source: APO – Report:

The West African Development Bank (BOAD) (www.BOAD.org) and the International Finance Corporation (IFC), a member of the World Bank Group, held a high-level working session today at BOAD’s headquarters in Lomé to further strengthen their partnership in support of transformative projects driving growth and job creation.

Under the leadership of Serge Ekué, President of BOAD, and Ethiopis Tafara, IFC Vice President for Africa, this meeting brought together the regional and sectoral management teams of both institutions around an ambitious agenda aimed at strengthening their cooperation in key sectors for regional development: energy, agriculture, natural resources, and innovative financing instruments.

For several years, BOAD and the IFC have maintained a strong partnership, evidenced by high-impact co-financing operations supporting private sector development across the subregion. This collaboration aligns with both institutions’ strategies to address key challenges facing the West African Economic and Monetary Union (WAEMU), including improving access to energy, ensuring sustainable natural resource management, and advancing agricultural transformation.

Today’s meeting marks a new milestone in strengthening this collaboration and paves the way for enhanced initiatives aimed at fostering inclusive and sustainable development.

Structured discussions around four priority areas

Agriculture and food security: The two institutions explored collaboration opportunities under the World Bank Group’s Global AgriConnect (GAP) initiative, as well as the feasibility of issuing WAEMU sustainable bonds backed by the cashew value chain—an innovative instrument for the region.

Energy and natural resources: Discussions focused on co-financing opportunities in renewable energy and gas projects, as well as sustainable water resource management.

Innovative financing: Teams assessed the feasibility of a cross-currency XOF–EUR financing mechanism, a novel initiative designed to expand the financing capacity of both institutions in the sub-region.

Affordable housing: Opportunities to support affordable housing financing for populations across WAEMU member countries were also explored.

Towards a concrete action plan

Following the meeting, the two institutions agreed on a concrete action plan outlining priority co-financing projects, the terms of BOAD’s participation in the GAP initiative, and a roadmap for developing envisaged innovative financial instruments.

This strategic dialogue reflects the shared vision of BOAD and IFC to further contribute to reducing poverty, creating jobs, and improving living conditions across WAEMU.

– on behalf of Banque Ouest Africaine de Développement (BOAD).

About the West African Development Bank (BOAD): 
The West African Development Bank (BOAD) is the common development finance institution of the member countries of the West African Monetary Union (WAMU). It is an international public institution whose purpose, as provided under Article 2 of its Articles of Association, is to promote the balanced development of its member countries and foster economic integration within West Africa by financing priority development projects. It is accredited to the three climate finance facilities (GEF, AF, GCF). Since 2009, BOAD sits as an observer at the UNFCCC and actively participates in discussions on devising an international climate finance system. Since January 2013, it has been home to the first Regional Collaboration Centre (RCC) on Clean Development Mechanism (CDM), whose aim is to provide direct support to governments, NGOs and the private sector in identifying and developing CDM projects. Since 15 October 2023, the Bank has been co-chairing the International Development Finance Club (IDFC) and has been holding the club’s sole presidency as of 27 February 2025. This Club brings together 27 national, regional and multilateral development banks from around the world.

About the International Finance Corporation (IFC): 
The International Finance Corporation (IFC), a member of the World Bank Group, is the leading private-sector-focused development institution in emerging economies. It operates in more than 100 countries, dedicating its capital, expertise, and influence to creating markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private-sector solutions and mobilizing private capital to create a world without poverty on a livable planet. For more information, visit www.IFC.org.

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Pentecostal churches are a place of everyday care, not just bizarre spectacle: southern African study

Source: The Conversation – Africa – By Admire Thonje, Postdoctoral Research Fellow, University of Johannesburg

A growing brand of new Pentecostal churches in southern Africa is known to emphasise the prosperity gospel, deliverance, miracles and healing.

Miracles, including people apparently rising from the dead, are just one of the contentious issues swirling around these churches. Pastors have been the subject of sensational media headlines for spraying congregants with insecticide or making them eat grass, selfies taken in heaven, or claims of fraud and rape.

In response to these kinds of abuses, the South African government even established an independent cultural commission which created a special committee “to deal with issues in the religious sector”.

Read more: Christianity is changing in South Africa as pentecostal and indigenous churches grow – what’s behind the trend

The concerns of government regulators are easy to understand, given Pentecostalism’s status as a rapidly growing arm of Christianity all around the world, including South Africa and other parts of the African continent.

But such spectacular events are less important in my research than finding out how most of these churches really work in everyday life. The complex reality of lived experience is far harder to regulate than the spectacular event.

Since 2019, my ongoing research has focused on a Zimbabwe-founded church whose growth followed migrants to South Africa, starting off in inner-city Johannesburg.

One of my key interests is to understand how church members navigate everyday Pentecostalism. To explore this, I use the social science idea of affect and emotion, which can be found in both regular church performance and during moments of spectacle.

I define affect as the raw physical buzz or charge felt during powerful church moments – before you even know what to call it. Emotion is when that feeling gets a name, like joy or sorrow, shaped by what culture and community have taught one to feel in those moments.

It is clear from my fieldwork that miracles and bizarre acts are not in the regular repertoires of the churches I studied. Instead, religious lives form around care, around forging friendships, relations, emotional support systems and events which bring members together, even as daily tensions arise within the church. Much religious activity happens in ordinary, everyday conduct that consists of simple activities, performances, rites and rituals.

These kind of environments are what scholars have called “affective economies”, where emotions like hope and security help a community to manage a precarious world.

This gives us a deeper understanding of the reasons behind the rise of new Pentecostalism, often missed when media or governments focus on the spectacle alone.

Everyday Pentecostalism

On almost any given Sunday in the churches I study, one sees grimaces on people’s faces; swaying of bodies during song; mumbling of words along with great physical gestures with hands and arms; tears flowing down faces. This is not because the members are sorrowful or in pain. Rather, it is the normal course of performing religion within Pentecostal settings.

After church on Sundays, prayer meetings on Tuesdays, in home groups on Wednesdays, prayer meetings on Fridays and at social events or preaching on the streets on Saturdays, members catch up on one another’s lives.

Read more: Kenya’s wailing warriors: how women in Pentecostal churches claim their power

Prayer and teaching are part of the social mix. I have attended church soccer matches that start in prayer, are followed by a braai (barbecue) and end with biblical teachings.

Everyday churching is characterised by joy, compassion, sincerity, collegiality and care. This is particularly evident in the church groups that many join. As one member told me:

I’m in the music team so I go to practice every Saturday. That is when I socialise with church people. There are church people who become like friends as well as like very close friends … we visit each other, hang out, share life experiences, and so forth.

It is these feelings of connection that enable members to persist with their faiths. Such connections amount to what is called “affective solidarity” – a bond, or alliance that’s built on shared emotions. Congregants experience it differently, but it is how care is established in the church and even spread outside the church.

It also affects love. It’s not uncommon for church members, who spend so much time together, to fall in love and get married. In my study I explore how, within affective solidarity, love and marriage is negotiated in the church. It is one of the areas of church life that can also create discord.

Tensions

Relations in the church can, of course, be exploited by church leaders, who have more spiritual authority than ordinary members. Spiritual authority allows religious leaders to lay claim over abilities that unlock a better life – like access to economic and social capital. These are signs of upward mobility and, perhaps more importantly, divine blessing.

To tap into these networks, members will need to show respect, loyalty and submission to a pastor’s authority. Loyal members seek guidance from pastors on life decisions like whether to relocate for work or whether a potential partner is suitable to marry.

Read more: God and Nollywood: how Pentecostal churches have shaped Nigerian film

But relations among ordinary members are less scripted. Disagreements are common. Some are affronted when leaders advise against their choice for marriage. Others are uneasy about finding love in a church where undesired suitors are the only ones available, yet pastors strongly encourage courtship and marriage within the church.

When bad conduct happens, like actual or rumoured financial wrongdoing by church leaders, some members leave while others will disagree and stay in the church and continue paying money to it. Tensions arise and wane in the ordinary course of churching.

It is in the ordinary where simple ideas and rationalisations like loyalty and submission become normalised. Unfortunately, it is also where opportunities for abuse exist, as many church leaders are aware.

Read more: Prophets and profits: the art of the sell in Shepherd Bushiri’s YouTube sermons

These, I found, are the issues that characterise the Pentecostal churches I have studied. The big spectacle and the dubious miracle are few and far between.

Regulation

Real accountability for new Pentecostalism’s abuses requires understanding how these churches actually work. It also involves churches taking heed of the everyday dynamics which open opportunities for exploitation.

Until regulators and churches engage in dialogue, regulations will miss their mark, and churches will resist oversight that seems disconnected from their reality.

– Pentecostal churches are a place of everyday care, not just bizarre spectacle: southern African study
– https://theconversation.com/pentecostal-churches-are-a-place-of-everyday-care-not-just-bizarre-spectacle-southern-african-study-278564

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Minister Diamantino Azevedo to Headline Angola Oil & Gas (AOG) 2026 as Angola Enters New Production Cycle

Source: APO

Diamantino Azevedo, Angola’s Minister of Mineral Resources, Petroleum and Gas, will once again headline the Angola Oil & Gas (AOG) Conference and Exhibition – taking place September 9-10 with a pre-conference day on September 8. The event comes at a time when new projects, renewed exploration and downstream expansion are reshaping the country’s oil and gas outlook, positioning it on the precipice of a new production cycle. Minister Azevedo’s participation reflects the government’s commitment to engaging investors, tackling industry challenges and advancing the country’s $70 billion upstream investment pipeline.  

AOG 2026 arrives at a critical time for Angola’s oil and gas market. With key project milestones achieved in the first few months of 2026, the country is entering a new phase defined less by decline concerns and more by production stabilization, gas monetization and new investment opportunities. Just this month, the New Gas Consortium achieved first gas delivery from the Quiluma field – part of Angola’s first non-associated gas project – with initial output estimated at 150 million standard cubic feet per day. This followed the start of operations at the Ndungu field in February 2026, marking a key step forward in the broader Agogo Integrated West Hub Development.

Offshore momentum continues to define Angola’s upstream sector, with redevelopment programs, new agreements and exploration campaigns underway. A principles agreement was signed between the ANPG, TotalEnergies and ExxonMobil for the allocation of four blocks in the frontier Benguela and Namibe Basins in March, laying the foundation for the signing of the respective production sharing contracts. Angola’s Block 15/06 partners announced the Algaita-01 discovery in February 2026, with estimated reserves of 500 million barrels of oil. Sonangol, Afentra, Maurel & Prom and NIS Naftgas are advancing redevelopment activities at Blocks 3/05 and 3/05A, with plans for two infill wells in 2026. At Block 3/24, Afentra is eyeing FID in late 2026 or early 2027 as the company moves toward the development phase. The anticipated launch of the country’s next licensing round is expected to drive new investment in exploration.

Onshore exploration is also gaining traction. Corcel recently raised £3.6 million to accelerate its exploration program at KON 16 as it moves from seismic interpretation to drilling within the next 12 months. ReconAfrica is advancing geochemical sampling and permitting for a potential 2D seismic in the Damara Fold Belt, while Afentra is currently acquiring geophysical data to delineate the highly prospective KON 4 acreage. Recent months have also seen Nigeria’s Oando Energy Resources assume operatorship of Block KON 13, while Angola’s Sonangol is leading exploration activities at KON 11, KON 12 and KON 15. The Lower Congo basin is witnessing similar momentum, led by companies such as Etu Energias, ACREP and Walcot Energy.

Angola’s upstream drive is complemented by ambitions to strengthen the downstream sector. Following the start of operations at the Cabinda oil refinery in 2025, Angola is looking at bringing the 200,000 bpd Lobito refinery online in 2027. Preparations are also underway to develop the 100,000 bpd Soyo facility, with the country seeking foreign investment to complete these strategic projects.

With new production coming online, a licensing round on the horizon and refining capacity expanding, Angola is positioning itself as one of the few markets offering both near-term production growth and long-term exploration potential. Against this backdrop, AOG 2026 comes at a critical time for the global industry, as investors increasingly look to proven hydrocarbon basins with expansion potential, stable regulatory frameworks and clear project pipelines. In a tighter global supply environment, Angola is not just participating in the market – it is becoming increasingly central to it.

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

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Atlantic Energy Alliance to Ignite Brazil‑Africa Offshore Collaboration at African Energy Week (AEW) 2026

Source: APO


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Cross‑Atlantic energy partnerships are materializing into strategic ventures that could reshape offshore development across the South Atlantic Basin. At the heart of this momentum is the Brazil‑Africa energy nexus, spotlighted as a driver of deepwater collaboration and floating production expertise. As energy leaders prepare for African Energy Week (AEW) 2026 in Cape Town and its Brazil–Africa Town Hall, this evolving relationship will be crucial to scaling upstream growth on both continents.

Brazil’s decades‑long mastery of ultra‑deepwater oil and gas is now a strategic asset for African producers and investors. From the pre‑salt fields of the Santos Basin to its advanced FPSO technologies, Brazil has built a track record of executing complex offshore projects. Deployments like the 2025 Bacalhau FPSO, capable of processing 220,000 barrels per day, highlight the operational scale and technical sophistication that Brazilian companies can bring to Africa’s emerging offshore frontiers, helping to reduce development risks and accelerate production timelines.

This technical edge is a key reason Petrobras is expanding into Africa. In early 2026, Petrobras confirmed a 42.5% stake acquisition in a significant offshore exploration block in Namibia alongside TotalEnergies, marking the company’s return to African waters after focusing on domestic pre-salt fields. Under President Luiz Inácio Lula da Silva, Africa has become “a main region of development outside Brazil,” with Namibia, Angola and Nigeria cited as priority markets.

Petrobras has also pursued exploration rights in South Africa’s Deep Western Orange Basin and engaged African peers through high-level forum participation. These efforts, highlighted at AEW, aim to translate Brazil’s deepwater experience into Africa’s offshore growth narrative, where geological parallels between Brazil’s pre-salt basins and African margins offer a compelling case for collaboration.

“For Africa’s energy sector to thrive – whether in deepwater, LNG or cross‑border projects – we need partners who bring capital and expertise. Brazil’s offshore pedigree and appetite to invest signal the kind of South‑South collaboration that accelerates real project delivery, unlocks value in frontier basins and drives industrial growth for both continents,” says NJ Ayuk, Executive Chairman of the African Energy Chamber.

Beyond rhetoric, energy diplomacy is translating into action. Last year’s Invest in African Energies Reception in Rio de Janeiro brought Brazilian and African stakeholders together to discuss strategic partnerships and investment prospects, setting the stage for further engagement at AEW in Cape Town.

For African producers, partnering with Brazilian companies offers access to mature offshore technologies, local content facilitation and operational models refined in challenging deepwater environments. Petrobras’ FPSOs, equipped with advanced carbon-management systems, demonstrate innovations that could be adapted to Africa’s offshore projects, balancing efficiency and environmental performance.

As the energy landscape evolves, strategic cooperation between Brazil and African nations could unlock a new era of Atlantic basin development, moving beyond traditional North-South investment patterns. Through shared expertise, aligned financing frameworks and sustained engagement – exemplified by AEW’s Brazil‑Africa agenda – the trans-Atlantic energy corridor is emerging as a priority for governments, investors and operators alike.

The AEW Town Hall promises to explore how Brazil’s offshore legacy can accelerate Africa’s next wave of offshore projects and how innovative capital structures can bridge financing gaps. With major players from both continents convening in Cape Town this year, the momentum toward operationalizing Atlantic energy partnerships is building – with implications for global supply dynamics and regional energy security.

Distributed by APO Group on behalf of African Energy Chamber.