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Spotlight

AFRICA

Afreximbank, Standard Bank and French banks among last financiers of hydrocarbons in Africa

More and more banks, caught between the hammer of oil companies and the anvil of NGOs, are turning their backs on fossil fuel projects in Africa. Only a handful are still showing support for the sector. [...] (814 words)

Issue dated 17/08/2022 Reading time 4 minutes

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Finance Energy

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ABSA
Afreximbank
African Energy Chamber
Benedict Okey Oramah
BNP Paribas
BPI
Britam Holdings
Cnooc
COP26
Crédit agricole
East African Crude Oil Pipeline
ENI
European Investment Bank
European Union
FirstRand
International Finance Corporation
Investec
Matthew Baldwin
Natixis
Nedbank
Nj Ayuk
Sean Evans
Societe Generale
Standard Bank
TotalEnergies
Trans-Niger Oil & Gas Limited
World Bank
Zak Ferreira

Afreximbank, the 'oil companies' bank', refuses to give up on black gold

Afreximbank is being pressured by its Western partners to move away from financing fossil fuel projects. The pan-African lender is nevertheless working on the creation of a new bank entirely dedicated to the sector, even if the plan faces many obstacles.

Afreximbank president and chairman, Benedict Okey Oramah.

IVORY COAST Finance 27/02/2023

Afreximbank picks PR firm Concerto for its Ivory Coast branch

The French PR firm Concerto is set to head up institutional communications and carry out some PR work for Afreximbank's Ivory Coast branch.

SOUTH AFRICA Energy 24/02/2023

Hyve Group and African Energy Chamber go head-to-head in court

The event industry rivals have taken their dispute to Johannesburg's High Court. Hyve was the first to launch hostilities last June, and now African Energy Chamber has retaliated by filing a complaint in the same court.

MOROCCO Finance Politics 20/02/2023

Ithmar Capital lobbies European Union

Moroccan investment fund Ithmar Capital joined the EU's transparency register in December 2022 with its sights set on climate policy.

DRC Energy 01/02/2023

Kinshasa sways between Uganda and Sudan to export its oil

The Congolese authorities are exploring the possibility of exporting the crude extracted from blocks 1 and 2 in the Graben Albertine area through a pipeline across Sudan.

NAMIBIA UNITED STATES Energy 19/12/2022

Windhoek's green hydrogen hopes dashed in Washington

When African leaders attended a summit meeting in Washington earlier this month, Namibian President Hage Geingob and his ministerial entourage highlighted his ambition to turn his country into a major exporter of green hydrogen. But unlike Europeans, his hosts seemed less than enthusiastic.

Namibian President Hage Geingob in Windhoek on 5 December 2022

DJIBOUTI Business 16/12/2022

EU's $40m overspend on Doraleh desalination plant

The Djiboutian government is in favour of an over-the-counter arrangement for the second phase of the Doraleh desalination plant, but the European Investment Bank and the EU are both pressing for a tender process.

EAST AFRICA NIGERIA WEST AFRICA Energy Commodity traders 15/12/2022

How is Coral Energy fuelling its expansion in Africa?

In recent months the Dubai oil trading company Coral, which has always maintained close ties with Russia, has been stepping up its activities in Africa, prompting speculation among its competitors as to the provenance of its consignments.

EGYPT Energy 15/11/2022

At COP27, Pouyanné, Itoua and other African oil players land in hostile territory

The climate summit, which opened on 6 November in Egypt, brought together a scant grouping of representatives from the African oil sector.

Patrick Pouyanné, CEO of TotalEnergies arrives at the International Emissions Trading Association (IETA) pavillon, during the COP27 climate conference in the Red Sea resort of Sharm el-Sheikh, on 11 November 2022.

ANGOLA Energy 11/11/2022

Sonangol sticks to refinery ambitions amid delays and funding shortfalls Free

Despite being the continent's leading producer of crude, Angola is still importing petroleum products on a large scale. Nearly all of its refining projects are in limbo on account of a lack of investment and persistent delays.

UGANDA Energy Diplomacy 03/10/2022

Museveni mobilises to save TotalEnergies EACOP pipeline project

The Ugandan president, in coordination with his Tanzanian counterpart, is pulling out all the political and diplomatic stops to rebuff the European Parliament's request to postpone the East African Crude Oil Pipeline.

Ugandan President Yoweri Museveni attends in Entebbe on July 26, 2022.

ETHIOPIA Business 27/09/2022

Addis-Ababa tries to reassure investors as fighting in Tigray surges

Ethiopia's diplomats are worried about investors withdrawing due to the civil war and security risks. Foreign investments are the country's third top source of foreign currency.

EGYPT EUROPEAN UNION Energy 19/08/2022

Brussels eager to connect Europe to Egyptian electricity grid Free

As the European Union seeks to diversify its energy sources in order to free itself from dependence on Russia, several projects to connect electricity networks between Egypt and southern Europe are vying for funding from Brussels.

UGANDA Energy 05/07/2022

TotalEnergies and CNOOC finally see funds flowing for East Africa pipeline

European investors have never warmed to the Uganda-Tanzania oil pipeline project, but South African Standard Bank is signing on.

SOUTH AFRICA Energy 10/03/2022

Oil-friendly Standard Bank seduced by green hydrogen

Standard Bank's financing of solar and wind projects remains negligible compared to what it puts into hydrocarbons. But it is making it known that it is ready to invest in green hydrogen in Africa.

Spotlight

MOZAMBIQUE Energy 07/07/2020

Total, Société Générale, TechnipFMC... French groups reign supreme in LNG

Total's arrival in Mozambique in September 2019, which marked a high point in France's efforts to establish its presence in the southern African country, was only the cherry on the cake of a wider-ranging campaign in which French banks and companies were already heavily involved.

Set up email notifications for these topics

ABSA
Afreximbank
African Energy Chamber
Benedict Okey Oramah
BNP Paribas
BPI
Britam Holdings
Cnooc
COP26
Crédit agricole
East African Crude Oil Pipeline
ENI
European Investment Bank
European Union
FirstRand
International Finance Corporation
Investec
Matthew Baldwin
Natixis
Nedbank
Nj Ayuk
Sean Evans
Societe Generale
Standard Bank
TotalEnergies
Trans-Niger Oil & Gas Limited
World Bank
Zak Ferreira

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Algerian secret services in survival mode in North Mali

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