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Dubai-based port operator DP World has signed a 30-year concession with Tanzania Ports Authority (TPA) to operate and modernise Dar es Salaam Port.

The International Finance Corporation (IFC) and Emerging Africa Infrastructure Fund (EAIF) are anchor investors in a bond issue intended to support a government-led programme to connect more low-income households to the national grid.

The International Monetary Fund has agreed a new $253m programme to help Nouakchott strengthen its resilience to climate shocks and accelerate its transition to clean energy.

US-based developer Husk Power Systems has secured funds from investors, which it will use to scale up its solar mini-grid developments in sub-Saharan Africa and South Asia. Husk – which was established in 2008 – claimed its new Series D funding was “the largest-ever equity raise in the mini-grid industry”.

Amid fresh speculation that it is eyeing up an entry into Mozambique’s Rovuma LNG project, Abu Dhabi National Oil Corporation (Adnoc) looks set to become a more active participant in upstream projects in Africa, so long as natural gas is on the agenda.

Even before the new Middle East war shattered comfortable assumptions about regional security, the global economic climate remained hostile to many heavily-indebted and financially stressed governments, and to populations who have struggled to live with fallout from the pandemic and Ukraine war, which has included painful levels of inflation and costly currency volatility. African Energy offers a few pointers towards another difficult year ahead, as the IMF issues its annual appraisals of the global outlook and regional economic performance, and the Israel-Palestine conflict returns to centre stage in an increasingly polarised world.

Insurers focusing on energy sectors appear cautiously optimistic, despite many parts of Africa experiencing economic, political or security volatility. Some insurers are expanding into new sectors, such as transmission and C&I power plants, buoyed by high demand for what is often an unsung, but important element in project and financial structures, writes Marc Howard.

A Dubai-based company backed by a well-connected but relatively low-profile member of Dubai’s ruling Al-Maktoum family has been signing deals across Africa to generate carbon credits – generating some controversy in the process.

As President William Samoei Ruto celebrated his first year in State House on 13 September, he has been able to bask in the global leadership opportunity offered by Kenya’s role in crafting an unprecedented African policy approach to the climate crisis ahead of COP28 in Dubai.

While Ghana remains hamstrung by enormous debts, there are tentative signs the economy may be turning a corner as Ghanaian politicians limber up for an election year. As debt restructuring deals continue to be hammered out with independent power producers and other creditors, there are grounds for cautious optimism, even if deep structural issues have yet to be addressed, writes Marc Howard.

A central element in Ghana’s debt restructuring is the money owed to domestic independent power producers (IPPs). Industry group the Independent Power Generators, Ghana (IPGG) has been working to hammer out the details of a deal to resolve the IPPs’ crisis over lack of payments by state entities and the haircut on their outstandings demanded by the government following an interim agreement in June.

Cairo-headquartered African Export-Import Bank (Afreximbank) announced on 2 October it had extended a $300m loan to Trident OGX Congo.

The International Monetary Fund (IMF) said on 4 October it had reached an agreement with Côte d’Ivoire (CdI) to release a further $500m in financial support, following a review of its economic reform programme. 

Canada-headquartered WATT Renewable Corporation has secured $13m in funding from Oslo-based Empower New Energy. The funds will be used to solarise 225 telecoms towers across Nigeria, reducing diesel consumption in the sector

The Lomé-headquartered West African Development Bank (Boad) has approved a CFA15bn ($24.2m) loan for the 30MWp Niakhar solar PV plant, which includes a battery energy storage system.