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The World Bank Group’s International Finance Corporation (IFC) has agreed to provide up to $1m in funding to support the development of two run-of-the-river hydroelectric power (HEP) projects, which are being developed by Mauritius-based Tembo Power in the south of Burundi.

Burundi
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The agreement for Senegal to become only the second African economy to secure a Just Energy Transition Partnership (JETP) has the potential to salvage the climate financing framework’s credibility, which appeared to be flatlining.

Senegal | Egypt | Nigeria | Morocco
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Tanzania faces a $109.5m hit in one of several disputes dating back to late president John Magufuli’s government, after an Icsid arbitral panel decided in favour of the Ntaka Hill nickel sulphide joint venture in the latest – but likely not the last – bill to come due from the former administration’s nationalist economic policies – a legacy President Samia Suluhu Hassan’s reforming government is working to overcome, writes Marc Howard.

Tanzania
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Zambian state utility Zesco’s plan to reduce its chronic indebtedness is making progress, with a crucial renegotiation of existing power purchase agreements (PPAs) with independent power producers (IPPs) appearing to bear fruit.

Zambia
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Meetings in July between United Arab Emirates state minister for foreign affairs Sheikh Shakhbut Bin Nahyan Al-Nahyan and leaders from around the continent gave further public expression to the UAE’s interest in promoting mining and other economic opportunities in Africa – along with promoting wider political ties and its hosting of the COP28 climate talks in November.

DR Congo
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£10m ($12.7m) from the United Kingdom International Development-funded FSD Africa Investments (FSDAi) to a new Risk Sharing Backstop Facility (RSBF), which is intended to support sustainable climate infrastructure in Nigeria, was announced on 2 August, during a visit to Abuja by UK foreign secretary James Cleverly.

Nigeria
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Most big oil companies reported a sharp falls in profits in Q2 2023, but Africa still figures prominently in results and future plans – and where it doesn’t majors are able to divest at least some of their more attractive assets.

Ghana | Mozambique | Angola | Namibia | Zambia | Congo Brazzaville | Gabon | Côte d'Ivoire
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India’s Nava Bharat Ventures (NBV) is seeking support from the Zambian government to raise finance to double output at its Maamba Collieries Ltd (MCL) coal-fired power plant, after Chinese lenders that backed the initial phase proved unwilling to fund the planned expansion.

Zambia
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President Cyril Ramaphosa’s administration has taken some initial steps to develop green hydrogen projects, but analysts and industry players say more support is needed from the government, development financiers, international technology partners and offtakers if the nascent industry is to fulfil its potential.

South Africa
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Nigeria’s Starsight Energy and South Africa’s SolarAfrica said on 1 August they had completed their merger deal, first announced in September 2022. The deal creates one of Africa’s largest renewable energy-focused commercial and industrial players.

Ghana | Nigeria | South Africa
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TotalEnergies said on 25 July that it is buying out all other shareholders in renewable energy (RE) developer Total Eren. The Paris-headquartered supermajor had acquired a 30% stake in 2017, which gave it the right to fully acquire the firm formerly known as Eren after five years.

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Numerous high-level American delegations have visited Africa this year, as Washington seeks to counter Chinese influence around the continent and emphasise its interest in striking mutually beneficial trade and investment deals, but African governments are pushing for better terms of trade and an extension of the soon-to-lapse Agoa trade deal, writes Tonderayi Mukeredzi recently in Gaborone.

Botswana | Zambia
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Botswana has agreed a revised deal with diamond miner De Beers, giving the state a larger role in trading the gemstones and providing a model that others could follow as they seek greater control over their mineral resources. But with longer-term revenues under pressure from changing consumer habits and synthetic diamonds, the authorities are pushing to develop a more diverse minerals industry, writes Tonderayi Mukeredzi in Gaborone.

Botswana
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Eritrea is seeking to improve strained relations with its East African neighbours while also deepening ties with key allies China and Russia. Some multilateral institutions including the African Development Bank are also offering new support, but Asmara remains isolated from western financing and is likely to remain so for as long as President Isaias Afwerki’s capricious and repressive regime remains in place, write Tonderayi Mukeredzi and Jon Marks in an African Energy special report.

Eritrea
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Australia’s Danakali was, until recently, developing the Colluli potash project in the Danakil Depression region, 230km from Eritrea’s main port of Massawa. But chairman Seamus Cornelius told African Energy international sanctions had made it “incredibly difficult” to raise funds and develop the project.

Eritrea