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Disbursement of the first tranche of Afreximbank’s $3.3bn crude-for-finance deal will help to ease Abuja’s immediate financial difficulties, as the Tinubu administration needs all the help it can get to alleviate a cost of living crisis that threatens to alienate the president’s support base and derail essential reforms.

Efforts to upgrade regional power pools are critical if the CMP is to achieve its vision of a fully interconnected African power grid, as discussed in the latest African Energy view. Among signs of progress, the launch of a southern African Regional Transmission Infrastructure Financing Fund is expected soon, the West Africa Power Pool is testing a day-ahead market and the Eastern Africa Power Pool aims for its market to go live by mid-2024.

The African School of Regulation (ASR) is expected to soon appoint a permanent director to succeed interim director Ignacio Pérez-Arriaga, who was appointed in July 2022. Officially launched in September 2023, with its headquarters at the African Capacity Building Foundation (ACBF) in Accra, ASR has in fact been running seminars and conferences with regulators across the continent for more than 12 months.

African electricity markets are on the threshold of genuine reform in 2024, even if policy-makers’ grandest ambitions are destined to meet with disappointment. African Energy has examined the first data that has emerged from the third development phase of the African Union’s Continental Master Plan and found much to applaud.

A tender has been issued by Kenya Electricity Transmission Company (Ketraco) for the 55km Mariakani-Dongo Kudu line and three associated projects. Ketraco has also requested expressions of interest (EoI) for consultancy services for the Kenya Transmission Network Improvement Project.

It is unlikely electric cars will come to dominate African roads for decades, but in the likes of Kenya and Benin battery-powered buses, motorbikes and industrial vehicles could have a radical impact on urban environments and commercial operations. Investors are lining up to support e-mobility projects in the most attractive markets, but in many jurisdictions the lack of capital, infrastructure and policy support and the high cost of vehicles are holding back what could be a revolution, write Tonderayi Mukeredzi and Jon Marks.

Nairobi-headquartered industrial company Abyssinia Iron and Steel has signed a power purchase agreement (PPA) with Norway’s Empower for a solar PV plant at Abyssinia’s Awasi factory.

Actis, a prominent UK-owned backer of African power projects, has been acquired by US equity investor General Atlantic for an undisclosed amount. The electricity industry will be looking to see how Africa fits into Actis’ plans as it comes under new management.

London AIM-listed Chariot and the local H1 Holdings have bought out their erstwhile partner Neura Group to take full ownership of South African electricity trading company Etana Energy, at a price of up to $5.2m.

London-listed independent Harbour Energy has announced a $11.2bn cash, debt and share deal to acquire Wintershall Dea’s assets in Algeria, Egypt, Libya and five other countries. The reverse takeover is complicated by the involvement of Russian-linked investors

Aliko Dangote’s eventual 650,000 b/d capacity plant has received 6m barrels of crude to date and is about to start producing diesel, aviation fuel and liquified petroleum gas.

EDF subsidiary Production Energie Insulaire (PEI) has completed the conversion of the utility’s 211MW Port Est plant to run solely on biomass. Réunion’s second biomass-only plant advances the French overseas territory’s 2030 renewables goal.

Félix Tshisekedi has won a second presidential term in Democratic Republic of Congo. The result has been contested by his opponents, who were crying foul long before most of the country went to the polls on 20 December and have continued to point to major irregularities thereafter.

Africa-focused downstream giant Vivo Energy has finalised the acquisition of Indian Ocean liquid petroleum gas (LPG) player, Société Industrielle et Gazière de Mayotte (Somagaz). The move follows Vivo’s 2023 purchase of stakes in African LPG businesses in Namibia and Réunion.

The UAE’s latest comprehensive economic partnership agreement has been signed with Brazzaville, in another step forward for Abu Dhabi’s plans to build its global profile by negotiating bilateral trade deals.