Oil

Kenya
Ruto shelves diaspora bond proposal amid fears of political meddling

Prime Minister Musalia Mudavadi, who proposed the measure, failed to convince the president's influential economic advisers of the merits of launching a loan scheme aimed at Kenyans living abroad.

Congo
French courts set to take 'presidential' Falcon off Commisimpex and its financiers

Six years after successfully seizing Denis Sassou-Nguesso's Falcon jet, the Lebanese businessman Mohsen Hojeij – who is claiming €2.2bn in unpaid debts from the Congo – is on the verge of losing this prized asset.

Central African Republic
Discreet reintroduction of fuel subsidies strains public finances

The quiet return of fuel subsidies in the CAR is placing fresh strain on the country's public funds, shielding its sole fuel importer while squeezing corporate margins and further complicating talks with the IMF.

Mozambique
TotalEnergies tries to calm tensions with Chapo administration

The French major is trying to resume talks with Mozambican authorities at a more technical level, in an effort to consign the rift between its CEO and the country's president to the past.

Africa
Africa Energy Bank wraps up first fundraising round

The future bank dedicated to oil and gas investments on the continent is on the verge of completing its first round of funding. Several countries have already contributed to the seed capital of this institution, which was set up by APPO.

West Africa
German trader SET Select Energy seeks new outlets

Based in Hamburg, Germany, the company led by York Dohna has been seeking to break into new markets for several months. Its fuel trading subsidiary, based in Switzerland, is exploring opportunities in West Africa.

Ivory Coast
Abidjan increases Africa Energy Bank stake to gain more sway in its governance

Now a leading hydrocarbons producer, Ivory Coast is seeking to influence the oversight of the financial institution, whose aim is to finance oil and gas development on the continent.

Palace Intrigues
Denis Sassou-Nguesso, Félix Tshisekedi, Alassane Ouattara

Intrigues big and small: every Thursday, Africa Intelligence takes a peek into the corridors of power in Africa and beyond.

CongoWedding season kicks off within Denis Sassou Nguesso's entourage

DRCFélix Tshisekedi invites influential pastor Joel Osteen to Kinshasa

Ivory CoastAbidjan sued in New York over poorly maintained pavement

Congo
Former ENI executive appointed to presidency post

In the government reshuffle, Denis Sassou-Nguesso has appointed Fabrice Davy Okassa as his adviser on hydrocarbons. The move underlines the Italian major's growing influence in the Congolese oil sector.

The New Guard
Benin, Zambia, Cameroon

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

BeninMahuna Akplogan, Romuald Wadagni's ‘data scientist'

ZambiaSolomon Ngoma, a well-connected figure and Washington's champion

CameroonCédric Ketchanga, from minerals to the oil trade

Angola
Etu Energias seeks deepwater backing for Chevron deal

The Angolan junior, formerly known as Somoil, is trying to gain control of a block operated by the US company. For this endeavour, it is looking to pair up with a partner capable of managing deepwater production.

Cameroon
Tradex board meeting could decide chief executive's fate

The 18 June board meeting at Tradex, the downstream arm of Cameroon's state hydrocarbons company, could determine its CEO's future. At odds with Nathalie Moudiki over financing for the Kribi refinery project, Emmanuel Patrick Mvondo risks being replaced by current Hydrac boss Jean Noël Mbida Ntsama.

Mozambique
TotalEnergies does everything in its power to fix relations with Chapo

The French oil major is seeking to resume dialogue via the president’s inner circle. Nicolas Terraz, the group’s chief executive for exploration and production, will travel to Maputothis month to hold talks with advisers to the Mozambican presidency.