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The conviction by a Tripoli criminal court of former National Oil Corporation (NOC) international marketing department (IMD) chief Imad Ben Rajab on charges of importing off-spec or adulterated gasoline in oil-for-fuel swaps has exposed one of the many ways in which corrupt actors have used the oil trade to extract hundreds of millions of dollars from the Libyan state.

Lagos-headquartered commercial and industrial (C&I) developer Rensource has closed a $15m debt finance facility with Afrigreen’s Debt Impact Fund.

A $7bn budget allocation made last year to National Oil Corporation was intended to boost crude output, but no new projects have yet been launched, prompting questions over the lack of oversight at NOC, in a state already hollowed out by smuggling, corruption and theft. It comes amid signs that Prime Minister Abdel Hamid Al-Dabaiba and rival warlord Khalifa Haftar are taking greater control over oil revenues, raising further questions for IOCs who are wondering whether to reinvest, writes John Hamilton.

The state-owned Saudi Fund for Development (SFD) has agreed a $20m concessional loan to upgrade transmission and distribution (T&D) infrastructure in the Kamonyi district of Rwanda.

A long-awaited final investment decision (FID) for the 18m t/yr Rovuma liquefied natural gas (LNG) project could be made in 2025, operator ExxonMobil has told Bloomberg.

Casablanca-headquartered infrastructure investor Africa50 is seeking $500m for the first close of its Infrastructure Acceleration Fund (IAF), launched at its 3 July shareholders’ meeting in Lomé.

World Bank Group (WBG) president Ajay Banga announced a ‘portfolio guarantee programme’ on 17 July, on the last day of the G20 meeting in India, in a package of measures the Washington-based multilateral said was designed to increase its lending capacity, “stretch every dollar” and “drive impactful development and take more risk”.

Amea Power has secured a $75m equity funding round from SoftBank Group Corporation (SBG). The Dubai-based developer said the Japanese investor’s financing represented its “first external equity funding following years of being privately funded by its founding shareholders, the [Kuwaiti] Al-Nowais family.”

Former finance minister Manuel Chang pleaded not guilty in a New York court on 13 July to charges over the long-running ‘tuna bond’ scandal, having been extradited to the United States from South Africa the previous day. Chang was sent to New York after a South African court had rejected his request to be tried in Maputo.

Cameroon Oil Transportation Company’s new senior leadership team features figures from Chad and Cameroon, prompting speculation that their bilateral rift may be healing. UK-based independent Savannah Energy remains a central player, but may come under further pressure if the two governments start acting in concert, writes James Gavin.

Leo Lithium requested a voluntary ASX suspension on 20 July, as it waited for correspondence from the Malian government over exports from its Goulamina project, amid speculation over a possible block on direct shipping ore, write Waly Dione Faye and Marc Howard.

Globeleq has consolidated its southern Africa focus – and substantial position in Mozambique – while Norway’s Scatec has sold down another of its ground-breaking projects, as the London-based developer bought a 75% stake in the 40MW Mocuba solar PV plant in Zambézia province.

The European Investment Bank (EIB) has committed funds to double capacity at the Doraleh desalination plant near Djibouti City, develop a solar PV plant to meet the higher power demand and expand wastewater treatment plants at Doraleh, Balbala and Douda.

Old Mutual Zimbabwe has poured millions of dollars into renewable energy projects, showing local solutions can be found to support a new generation of developers in a market where local institutional investors and foreign capital are reluctant to fund energy schemes.

The United Arab Emirates has often played a role in the illicit Congolese gold trade. A 2014 report by Partnership Africa Canada (Impact) noted that the number of individuals responsible for exporting illicit gold from Democratic Republic of Congo to Dubai was small.