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The positive impact on oil importers of the slump in crude prices since H2 2014 is visible in recently published Moroccan data, which show the trade deficit narrowing by 25.3% in January-May, compared to the corresponding period of 2014. The preliminary trade figures record crude oil imports down by 54% year on year and refined products falling by 29.1%. Exports rose by 5.8%, driven by a strong rise in phosphate sales (up 22.3%); Morocco is also benefiting from an improved agricultural performance and growth in some newer industries, such as automobiles (with exports up 11% in January-May).

Hela Cheikhrouhou has been appointed energy minister in new Prime Minister Youssef Chahed’s unity government, bringing a prominent international financial professional into a key role. Chahed is supported by President Béji Caïd Essebsi, and his administration has brought together key factions with the support of the other leading player in contemporary Tunisian politics, Hizb Ennahda leader Sheikh Rachid Ghannouchi. The 40-year-old premier won a parliamentary vote of confidence on 26 August and will try – again – to accelerate the process of economic and social reform.

Edinburgh-based Savannah Petroleum signed a production-sharing contract (PSC) with the government on 4 July for the R1/ R2 licence area. The signing ceremony in Niamey was attended by UK Conservative MP Stephen O’Brien, a former international development minister described by Savannah as “a former industrialist who has a personal interest in Niger and Africa”. O’Brien was born in the southern Tanzanian port of Mtwara.

The perception that international financing for infrastructure projects is on the increase has received confirmation with the publication of the Infrastructure Consortium for Africa (ICA) annual report, which shows a significant rise in commitments and disbursements for energy, transport, water and information and communications technology (ICT) in 2012, as part of a wider trend towards increased support. ICA members – who include multilateral development banks and big bilateral donors – reported commitments of $18.7bn in 2012, following a 59% slump from $29.1bn in 2010 to $11.9bn in 2011.

Board approval by the World Bank Group (WBG) is slated on 7 June for a $486m concessional International Development Association loan to support the strengthening of the Nigerian transmission system. Another $4m in counterpart funding from the government would be added to take the Transmission Network Strengthening and Improvement project’s total to $490m. The aim is to support overall sector reform by increasing the network’s power transfer capacity to at least 7GW from about 5GW now.

Angola has taken a step towards reducing its dependence on borrowing from China with the signing of a $1bn loan agreement between Sonangol and a syndicate of major international banks. The loan, which runs for five years and pays a margin of 425 basis points over Libor, was underwritten by Natixis, Société Générale, the African Export-Import Bank and Standard Chartered.

Office National de l'Electricité and an international investment consortium on 25 October signed an emission reduction purchase agreement for a total 2m tonnes of CO2. The carbon credits fall within the Kyoto Protocol's Clean Development

The issues that African Energy covers have risen much higher up the global agenda than seemed likely when the first issue was published in April 1998, when global concern about sub-Saharan Africa’s struggle to provide electricity to hard-pressed populations and industrial users, and the continent’s potential to provide energy to a fast-changing global economy driven by growth in emerging markets, seemed considerably less than now.

In the run-up to the COP22 conference in Marrakech, Moroccan Agency for Sustainable Energy (Masen) head Mustapha Bakkoury announced the issue of MD1.15bn ($118m) of ‘green bonds’, to be purchased by local institutional investors supported by a Treasury guarantee. This was among a number of instruments Morocco unveiled during COP22 to help finance its ambitious renewable energy and energy efficiency programmes – and underline its status as one of the continent’s most innovative players.

This year has seen policy-makers reassess their responses to the impacts of renewables and distributed (off-grid) technologies, while analysts focus on how changing consumer behaviours could radically change the global energy industry. Conservative development finance institutions have bought into the ‘off-grid revolution’ – underlined by the World Bank’s decision to end decades of support for upstream oil and gas projects – and even the most petrol-headed of oil majors have changed their traditional tone, highlighted by ExxonMobil’s 11 December announcement that it will start publishing reports on the possible impact of climate policies on its business.

As part of donor efforts to restore Liberia’s infrastructure, the US government has installed a 10MW light fuel oil power plant at Liberia Electricity Corporation (LEC)’s Bushrod Island facility.

Opposition senators have questioned the legitimacy of deals signed with South Africa establishing the Agence pour le Développement et la Promotion du Projet Grand Inga (ADPI) to oversee the Grand Inga hydroelectric project, and consolidating South Africa’s role as the scheme’s anchor partner. President Joseph Kabila Kabange signed a decree establishing ADPI last October, and appointed former electricity minister Bruno Kapandji Kalala to head the new agency, working out of the presidency.

The government is planning a financial restructuring operation to address the 5bn dirham ($585m) debt owed by Office National de l’Electricité (ONE).

Standard Bank has signed a R20bn ($2.16bn) funding support agreement for renewable energy projects in South Africa with the Industrial and Commercial Bank of China (ICBC). ICBC is Standard Bank’s largest shareholder with a 20% stake. The deal is structured to provide the funding out of ICBC’s rand income, and aims to promote the use of renewable energy in South Africa in support of the government’s renewable energy programme, as well as raising awareness among Chinese suppliers.

Recognition of sub-Saharan Africa’s resilience in the face of the global downturn was a feature of the International Monetary Fund (IMF)/World Bank annual meetings, held in Washington on 6-9 October.