Finance

Africa
Africa free trade summit slated for November

The African Continental Free Trade Area (AfCFTA) is due to hold a summit this coming November.

Morocco
MEGP gas flow reversal operation ready but supply contracts yet to be signed

Rabat and Madrid have completed their preparations to reverse the flow of gas in the Maghreb-Europe Gas Pipeline, enabling Morocco to receive gas from Spain. It is still not known, however, which company will supply Morocco's gas to Spain's reception terminals.

The New Guard
Senegal, Guinea-Bissau, DRC, Ethiopia, Libya

Every Wednesday, Africa Intelligence reveals the next generation of movers and shakers in business and politics.

SenegalMamadou Fall Kane, presidential oil adviser, branches out into mining

Guinea-BissauSaico Umaro Embaló, the president's nephew and Turkey envoy

DR CongoArthur Omar Kayumba, Tshisekedi's Grand Inga irritant

EthiopiaWintana Shimelis, in charge of the UK's Diageo in Addis

LibyaAhmed al-Sharkasi, the PM's low-key advisor

Nigeria
US pockets $16m after settlement with owner of trader Aluko's former villa

US authorities have struck a deal with Sarbonne Estate that grants it ownership of a luxury Californian villa that belonged to the Nigerian trader Kola Aluko. The real estate firm will pay $16m for the privilege.

Equatorial Guinea
Deep-pocketed juniors target Chevron assets

Canadian group Gran Tierra Energy and US junior Vaalco are in talks to take over Chevron's producing fields in offshore Equatorial Guinea.

Ethiopia
EU divided over $300m World Bank grant to Abiy

The first major disbursement to Ethiopia from an international financial institution since the start of the civil war in 2020 went ahead despite the reluctance of key political figures in the European Union.

Chad
Glencore continues to sell its oil while waiting for its debt to N'Djamena to be restructured

In February, the Swiss group made a proposal to restructure its loan to N'Djamena. However, until an agreement has been reached with Chad, facilitated by Minister Djerassem Le Bemadjiel who is acquainted with the Swiss group, the latter will continue to pay itself back in kind.

Tunisia
Tunis asks Brussels to ease loan conditions in face of IMF impasse

The Tunisian government is seeking a relaxing of the conditions for the disbursement of a tranche of the €300m that the EU has earmarked for macro-financial assistance. But community institutions are still concerned at some of the political measures being taken by Kais Saied.

Mozambique
TotalEnergies to clarify local content goals for Cabo Delgado

There is considerable local interest in future services contract opportunities for the development of Cabo Delgado's liquefied natural gas reserves. The question now is who could apply and in what area.

Congo
Kigali solidifies investments in Brazzaville

There was a great deal of buzz about Rwandan President Paul Kagame's April 11 to 13 visit to Brazzaville during which he met with Denis Sassou Nguesso. His visit led to the signature of eight economic cooperation agreements.