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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. [...]

Published on 17.08.2022 at 05:00 GMT 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
Société générale
Standard Bank
TotalEnergies
Trans-Niger Oil & Gas Limited
World Bank
Zak Ferreira

In Focus | Africa
From Dubai to Cape Town, upstart trader Coral Energy rolls out African offensive

Dubai-based Coral Energy has recently made an aggressive entrance on the oil trading market in several sub-Saharan African countries where competitors suspect it of reselling Russian products. Africa Intelligence lifts the veil on this little-known trader.

Subscribers only Energy 20.11.2023

From left to right: Coral's founder, Azerbaijani Tahir Garayev, his compatriot Ahmed Karimov and the head of the Rosneft group, Igor Setchine.

Egypt
Afreximbank inks $32m move to Cairo's New Administrative Capital

The Cairo-based African Export-Import Bank is to move to President Sisi's new capital megaproject to the east, with Egyptian authorities pushing other international organisations to follow.

Subscribers only Finance, Business 08.09.2023

Benedict Okey Oramah, President of Afreximbank, on 14 December 2022, in Washington, DC, USA.

Namibia
Nedbank claims €2.5m from Namibian businessman Benjamin Hauwanga

Nedbank is trying to recover the 50 million Namibian dollars it loaned to businessman Benjamin Hauwanga in 2020.

Subscribers only Business 05.07.2023

Algeria
EIB negotiates with Algiers to kick-start stalled Medusa submarine cable project

The European Investment Bank (EIB) is in talks with the Algerian authorities to get the Medusa project back on track. The submarine fibre optic cable system, due to come into service in 2024, will be the longest in the Mediterranean.

Subscribers only Infrastructure 16.05.2023

Southern Africa
TotalEnergies, Maurel & Prom and Perenco to attend African Energy Chamber forum

Africa's main oil lobby, run by lawyer NJ Ayuk, will organise its next Invest in African Energy Forum in Paris. The event is scheduled for 1 June.

Subscribers only Energy 29.03.2023

Africa
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.

Subscribers only Finance, Energy 22.03.2023

Afreximbank president and chairman, Benedict Okey Oramah.

Ivory Coast
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.

Subscribers only Finance 27.02.2023

South Africa
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.

Subscribers only Energy 24.02.2023

Morocco
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.

Subscribers only Finance, Politics 20.02.2023

DRC
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.

Subscribers only Energy 01.02.2023

Namibia, United States
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.

Subscribers only Energy 19.12.2022

Namibian President Hage Geingob in Windhoek on 5 December 2022

Djibouti
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.

Subscribers only Business 16.12.2022

East Africa, Nigeria, West Africa
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.

Subscribers only Energy, Commodity traders 15.12.2022

Egypt
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.

Subscribers only Energy 15.11.2022

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
Sonangol sticks to refinery ambitions amid delays and funding shortfalls

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.

Free access Energy 11.11.2022

Uganda
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.

Subscribers only Energy, Diplomacy 03.10.2022

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

Ethiopia
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.

Subscribers only Business 27.09.2022

Egypt, European Union
Brussels eager to connect Europe to Egyptian electricity grid

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.

Free access Energy 19.08.2022

Uganda
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.

Subscribers only Energy 05.07.2022

South Africa
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.

Subscribers only Energy 10.03.2022

Spotlight | Mozambique
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.

Subscribers only Energy 07.07.2020

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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
Société générale
Standard Bank
TotalEnergies
Trans-Niger Oil & Gas Limited
World Bank
Zak Ferreira

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Guinea
Behind the scenes of Mamadi Doumbouya's offensive on Russian miner Nordgold

DRC
Dan Gertler's billions of dollars in royalties at heart of huge legal battle

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

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In Focus | Africa
From Dubai to Cape Town, upstart trader Coral Energy rolls out African offensive

Egypt
Afreximbank inks $32m move to Cairo's New Administrative Capital

Namibia
Nedbank claims €2.5m from Namibian businessman Benjamin Hauwanga

Algeria
EIB negotiates with Algiers to kick-start stalled Medusa submarine cable project

Southern Africa
TotalEnergies, Maurel & Prom and Perenco to attend African Energy Chamber forum

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

Ivory Coast
Afreximbank picks PR firm Concerto for its Ivory Coast branch

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

Morocco
Ithmar Capital lobbies European Union

DRC
Kinshasa sways between Uganda and Sudan to export its oil

Namibia, United States
Windhoek's green hydrogen hopes dashed in Washington

Djibouti
EU's $40m overspend on Doraleh desalination plant

East Africa, Nigeria, West Africa
How is Coral Energy fuelling its expansion in Africa?

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

Angola
Sonangol sticks to refinery ambitions amid delays and funding shortfalls

Uganda
Museveni mobilises to save TotalEnergies EACOP pipeline project

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

Egypt, European Union
Brussels eager to connect Europe to Egyptian electricity grid

Uganda
TotalEnergies and CNOOC finally see funds flowing for East Africa pipeline

South Africa
Oil-friendly Standard Bank seduced by green hydrogen

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

Set up email notifications for these topics

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Africa Intelligence on social media

Indigo Publications' websites

About Africa Intelligence

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Indigo Publications' websites

Guinea Behind the scenes of Mamadi Doumbouya's offensive on Russian miner Nordgold

DRC Dan Gertler's billions of dollars in royalties at heart of huge legal battle

African Union: the battle of the giants

East Africa's hotly contested coffee sector

William Ruto's new order

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

This article may be accessed by subscribers

Do you want a free trial before subscribing?

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create a free account

Set up email notifications for these topics

In Focus | Africa From Dubai to Cape Town, upstart trader Coral Energy rolls out African offensive

Egypt Afreximbank inks $32m move to Cairo's New Administrative Capital

Namibia Nedbank claims €2.5m from Namibian businessman Benjamin Hauwanga

Algeria EIB negotiates with Algiers to kick-start stalled Medusa submarine cable project

Southern Africa TotalEnergies, Maurel & Prom and Perenco to attend African Energy Chamber forum

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

Ivory Coast Afreximbank picks PR firm Concerto for its Ivory Coast branch

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

Morocco Ithmar Capital lobbies European Union

DRC Kinshasa sways between Uganda and Sudan to export its oil

Namibia, United States Windhoek's green hydrogen hopes dashed in Washington

Djibouti EU's $40m overspend on Doraleh desalination plant

East Africa, Nigeria, West Africa How is Coral Energy fuelling its expansion in Africa?

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

Angola Sonangol sticks to refinery ambitions amid delays and funding shortfalls

Uganda Museveni mobilises to save TotalEnergies EACOP pipeline project

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

Egypt, European Union Brussels eager to connect Europe to Egyptian electricity grid

Uganda TotalEnergies and CNOOC finally see funds flowing for East Africa pipeline

South Africa Oil-friendly Standard Bank seduced by green hydrogen

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

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Guinea
Behind the scenes of Mamadi Doumbouya's offensive on Russian miner Nordgold

DRC
Dan Gertler's billions of dollars in royalties at heart of huge legal battle

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

In Focus | Africa
From Dubai to Cape Town, upstart trader Coral Energy rolls out African offensive

Egypt
Afreximbank inks $32m move to Cairo's New Administrative Capital

Namibia
Nedbank claims €2.5m from Namibian businessman Benjamin Hauwanga

Algeria
EIB negotiates with Algiers to kick-start stalled Medusa submarine cable project

Southern Africa
TotalEnergies, Maurel & Prom and Perenco to attend African Energy Chamber forum

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

Ivory Coast
Afreximbank picks PR firm Concerto for its Ivory Coast branch

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

Morocco
Ithmar Capital lobbies European Union

DRC
Kinshasa sways between Uganda and Sudan to export its oil

Namibia, United States
Windhoek's green hydrogen hopes dashed in Washington

Djibouti
EU's $40m overspend on Doraleh desalination plant

East Africa, Nigeria, West Africa
How is Coral Energy fuelling its expansion in Africa?

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

Angola
Sonangol sticks to refinery ambitions amid delays and funding shortfalls

Uganda
Museveni mobilises to save TotalEnergies EACOP pipeline project

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

Egypt, European Union
Brussels eager to connect Europe to Egyptian electricity grid

Uganda
TotalEnergies and CNOOC finally see funds flowing for East Africa pipeline

South Africa
Oil-friendly Standard Bank seduced by green hydrogen

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