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Investment in exploration and production (E&P) activity is increasing around the continent, with emerging resource holders in the south and east of the continent now often attracting more international interest than the more established arenas of northern and west-central Africa, writes James Gavin.

Lagos-headquartered multilateral the Africa Finance Corporation (AFC) has set out its stall as a financier and partner for the continent’s energy transition, with a strategy to support renewable energy and critical minerals projects around the continent, as well as the development of battery manufacturing supply chains. The AFC also plans to continue supporting short- to medium-term energy needs by backing upstream and midstream gas projects and gas-to-power (GTP) developments. Marc Howard spoke to AFC executive director and chief investment officer Sameh Shenouda during the recent Africa Energy Forum in Nairobi.

Netherlands-based investors are setting up $1bn funds in both South Africa and Namibia, in partnership with local investors, to accelerate the development of green hydrogen projects in the two countries.

Egypt’s Prime Minister Mustafa Madbouly and Central Bank of Egypt governor Hassan Abdalla face an imminent decision on whether to allow the operators of solar power projects at the Benban Solar Farm to convert Egyptian pound profits into dollars so they can meet a mid-July debt repayment deadline. At stake are both short-term financial stability and long-term credibility.

As Cairo seeks buyers for its prized power generation assets, it may have to accept lower prices than it wants, as investors shift away from gas-fuelled plants in light of climate change concerns. Potential buyers from the Gulf and elsewhere also recognise Egypt is under pressure to sell as a result of the country’s debt crisis. Complicating matters still further is the enmity between key arms of the state which could delay any deals, writes Moataz Khalil with John Hamilton.

The United Nations Development Programme (UNDP) estimates that 69% of Madagascar’s population live in ‘multidimensional poverty’, a metric that uses ten health, education and standard of living indicators. The UNDP categorises 55.6% of the population (around 30m people) as living in ‘monetary poverty’, with income below $1.90/day at 2011 prices.

The Mphanda Nkuwa Implementation Office (GMNK) said on 8 June that the European Union and its European Investment Bank (EIB) lending arm would provide finance for the 1.5GW Mphanda Nkuwa hydroelectric power (HEP) plant development and its 1,300km high-voltage line from Tete province to Maputo.

The Export-Import Bank of the United States (Exim) has approved a $900m loan to build two solar PV plants for the Ministry of Energy and Water (Minea).

The Africa Infrastructure Development Association (Afida) has invited up to 30 early stage developers to a workshop in Cape Town in October, in what the Mauritius-headquartered group said was part of efforts to address issues around long development times for power projects, which can pose particular difficulties for newer and smaller developers.

As Zimbabwe’s general election approaches, experts are complaining that its energy laws and policies are outdated and need extensive review to promote increased investment in renewable energy.

The 1,290km Lobito corridor is being lined up for some $250m in financing from the United States’ Development Finance Corporation (DFC) and, reflecting the tone of recent US (re-) engagement with the region, the White House has also mooted an expansion of the Lobito corridor to the Tanzanian coast.

Bola Ahmed Tinubu acted decisively at his 29 May inauguration as head of state, by ordering the removal of subsidies on petroleum products. Sources close to his incoming administration had predicted such a move was likely, but the timing of any announcement had been unclear. Previous governments have promised to remove subsidies before backing away from such a decision, so Tinubu’s nerves are likely to be tested in the face of the protests that are now likely.

The island states off the coast of East Africa are pushing ahead forcefully with renewable energy schemes to reduce their hydrocarbons use. The moves will save money for the authorities in Comoros, Mauritius and the Seychelles by cutting expensive imports of refined products and will also help to address the effects of climate change to which they are particularly vulnerable, writes Marc Howard.

Is Africa’s upstream cementing its credentials as an exploration hotspot? The continent’s upstream has distinct advantages over other global basins, and has a window of opportunity in which to attract investment from companies that face tax burdens in other jurisdictions, writes James Gavin.

China’s involvement in a wide-ranging debt restructuring and refinancing deal with other bilateral and multilateral creditors, headlined by a $3bn IMF facility, could set a precedent for other debt-distressed countries around the continent, but some devilish detail remains to be negotiated, writes Jon Marks.