AIC News

H.E. Muhammadu Buhari, President of Nigeria, has committed to reducing the country’s greenhouse gas (GHG) emissions by 20% in 2030. The pledge aligns with other industrialized nations efforts and is set to rise to 45% subject to international support. The pledge follows the signing into law of the country’s first climate bill after the United […]

Over the course of 2022-2023 Angola aims to consolidate its post COVID-19 economic recovery agenda on the back of stronger oil and gas prices. Given the landmark USD$100 per barrel price threshold being exceeded, analysts are projecting an upbeat economic outlook for the country with real GDP growth expected at an average of 5.1% for […]

Nigerian independent oil and gas company Seplat Energy has reached an agreement with American multinational firm ExxonMobil to acquire the company’s subsidiary, Mobil Producing Nigeria Unlimited, and its business operations in a $1.2 billion deal. Seplat Energy will acquire the company’s 40% stake in four oil mining licenses comprising over 90 shallow-water and onshore platforms […]

Results from a 2D Seismic Survey of the Cabora Bassa area in Zimbabwe are showing signs of natural gas and crude oil deposits, Australian independent upstream oil and gas firm Invictus Energy has announced. Invictus Energy partnered with Canadian-based consulting firm Earth Signal Processing to process data from its CB21 survey, which the firm started […]

Global energy major, Eni, has brought the Ndungu field, located on Block 15/06 in the Angolan deep offshore basin, onstream – representing Eni’s third project start-up in Angola over the past seven months. The Italian multinational, through its collaborative relationship with the National Agency for Oil, Gas and Biofuels (ANPG), has been committed to addressing […]

German car manufacturer Audi has launched its electric vehicle (EV) e-tron range in South Africa, with multiple vehicle models on offer.

Big tech is pumping in billions and African tech companies are taking their first tentative steps, but with costs prohibitively high, will Africans be able to participate in the metaverse?

United States Congressman Gregory Meeks has warned that the United States will only be part of the future if it invests in Africa now.

While South African bank and financial services group, Standard Bank, and pan-African trade finance institution, the African Export-Import Bank (Afreximbank), have remained resolute in their active investment towards the continent’s ongoing and upcoming hydrocarbons projects, diversification in capital raising will be required to balance Africa’s energy needs and fund its transition towards a low-carbon future.

Addis Ababa this month launched a fund, aimed at attracting investment for at least $150bn worth of state-owned companies and assets. Ethiopia is keen to regain economic momentum after it slowed during the Covid-19 pandemic and a civil war in the northern region of Tigray.