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Traffic in central Casablanca, Morocco. The country is stepping up efforts to reduce its dependence on fossil fuels

Morocco aims to double EV production capacity

Morocco aims to increase its electric vehicle (EV) production capacity by more than half by the end of 2025, as part of efforts to promote green mobility and reduce its reliance on fossil fuels. EV production is likely to reach 107,000 by the end of this year, an increase of 53 percent year on year, […]

Mining in the Republic of Congo

UAE’s IRH to buy stake in Congo tin miner Alphamin

International Resources Holding (IRH) said on Wednesday it will acquire a controlling stake in major tin producer Alphamin Resources for C$503 million ($367 million), a significant expansion into critical minerals for the Abu Dhabi-based mining company. IRH will purchase approximately 719 million shares, representing a 56 percent stake from Tremont Master Holdings at C$0.70 per share, […]

Gulf animal imports: With traditional suppliers like Australia stepping back and costs increasing, African exporters and Gulf self-sufficiency projects are increasingly filling the demand for Middle East livestock

African and local sheep on the menu as livestock trade shifts

As Eid al Adha approaches, consumers in Saudi Arabia and the wider Gulf region can expect imports of animals and meat of varying provenance from their traditional suppliers, analysts say. African exporters and Gulf self-sufficiency projects are stepping in to fill gaps in the Middle East’s livestock supply as Australian and other providers step back.  […]

Despite relatively high application volumes, hoteliers say finding the right talent is difficult UAE hotel staff

UAE hotels hit by talent crunch as growth outpaces staffing

UAE hoteliers are warning of an intensifying shortage of qualified staff as the country’s tourism sector expands. About 809,000 people were employed in hospitality and tourism in the Emirates in 2023 – more than 12 percent of the workforce, according to the latest government data.  But relatively high staff turnover and limited investment in training […]

A railway track in rural Uganda. The country's new line will stretch to the Kenyan port of Mombasa

Uganda’s $800m IDB financing to include rail project

Uganda has signed a $800 million financing agreement with the Islamic Development Bank (IDB) to support various projects, including a planned railway, that aim to boost the landlocked east African country’s trade, its finance ministry said. The railway will connect to neighbouring Kenya’s Standard Gauge Railway and on to the Indian Ocean port of Mombasa. […]

With feasibility studies complete, Morocco and Nigeria have moved closer to building their major gas pipeline

Final decision to be made on Morocco-Nigeria gas pipeline

A final investment decision on the $25 billion Morocco-Nigeria gas pipeline will be taken by the end of 2025, a Moroccan minister has confirmed.  A special purpose company is being created to oversee the project’s implementation, Morocco World News reported, citing Leila Benali, minister of energy transition and sustainable development, as saying in Morocco’s parliament. […]

Guinea is aiming to revoke EGA's mining licence

Guinea ‘to pull EGA’s licence over alumina refinery row’

The Guinean government’s move to revoke Emirates Global Aluminium’s (EGA) mining licence stemmed from the company’s failure to fulfil its commitment to construct an alumina refinery, sources have told Reuters. Reuters reported on Wednesday that Guinea has launched a process to revoke the EGA licence, escalating a dispute that began in October with the suspension […]

An engineer at a mining farm. Abu Dhabi-listed Phoenix Group has strengthened its presence in Ethiopia with a new mining facility, contributing to its global bitcoin operations

UAE’s Phoenix expands Ethiopian bitcoin mining

Phoenix Group, an Abu Dhabi-listed blockchain and cryptocurrency company, has expanded its bitcoin mining operations in Ethiopia, securing an additional 52 megawatts (MW) of power supply.  The latest move brings the company’s total capacity in the African country to 132MW and raises its global capacity to more than 500MW across five countries, it said in […]

Mena's AI research contribution lags global output, but region-wide strategic investment programmes aim to build local expertise

Focus on investment in AI as Mena lags in research

The Gulf and wider Middle East and North Africa region make a woefully small contribution to global artificial intelligence research and academics, but strategic investments could help mitigate some of the risk of dependency on others, industry experts say. The Mena region contributed just 5 percent of all AI-related academic publications and less than 10 […]

While lower oil prices may squeeze some Mena producers, Gulf nations are expected to maintain long-term investment plans

Gulf oil investment ‘can weather price slump’

International oil prices may have fallen to their lowest in four years but that is unlikely to disrupt the exploration and production investment plans of Gulf national oil producers, energy analysts have said. But Middle East and North Africa producers outside the GCC may not be so lucky. Crude oil fell below $60 a barrel […]

Shell has about 10 percent of South Africa’s fuel retail market.

Adnoc on shortlist to buy Shell South Africa fuel stations

Abu Dhabi National Oil Company (Adnoc) has been shortlisted to acquire Shell’s fuel stations and other downstream assets in South Africa for as much as $1 billion. Shell’s portfolio in South Africa includes about 600 fuel stations and local trading operations, Bloomberg reported, without identifying its sources. Shell has appointed Rothschild to run the sale […]

Africa's digital payments economy is expected to be worth $1.5 trillion by 2030

Morocco’s PayTic raises $4m for Africa expansion

PayTic, a Moroccan startup, has raised $4 million in a funding round and aims to expand into Africa, it said in a press statement on social media. PayTic, which has a presence in Europe and North America, works with banks and card issuers to simplify back-end processes such as chargebacks whereby a customer disputes a […]

Alparslan Bayraktar, Turkey's energy minister, sees the preliminary exploration and survey agreement signed with Somalia as the start of a wider move into the Africa energy sector

Turkey expands African energy foothold with Somali agreement

Turkey is expanding its presence in the Somali energy sector after striking a deal to conduct preliminary surveys for oil and gas deposits across the African country as it seeks to reduce its reliance on energy imports, notably from Russia. Turkish energy minister Alparslan Bayraktar and his Somali counterpart Dahir Shire Mohamed this week signed […]

Crowds flock to Bakaro Market, one of the largest markets in the Somali capital, Mogadishu, which is visited by many customers every day to buy various types of goods and food items (April 16, 2024)

Arab Monetary Fund gives Somalia $307m of debt relief

The Abu Dhabi-based Arab Monetary Fund (AMF) has signed a $307 million debt relief agreement with Somalia to support the African country’s economic reform programme. The agreement covers the restructuring of the debt owed by Somalia to the AMF, the 22-nation-backed fund said in a statement, without giving any further details. Somalia’s finance minister Bihi […]

The Port of Luanda handles 76 percent of Angola’s container and general cargo, serving as a logistics centre for landlocked neighbours

AD Ports moves ahead with Angolan port upgrade

State-controlled Abu Dhabi ports operator AD Ports Group is to upgrade Angola’s largest port as it expands its reach in Africa, the company said in a statement. The company has appointed UAE-based Mar Construction Civil & Obras Publicas to design and build the port’s infrastructure, the statement said. Additionally, the company has engaged Lebanon-based Dar Al […]

One solar panel in North Africa generates two to three times the amount of power that one does in Europe

Plans to bring African energy to Europe face big challenges

At least five multi-billion dollar projects to bring up to 24 gigawatts of solar and wind power energy from sunny North Africa to chilly Europe, assisted by Gulf investment money, are currently being planned. But these ambitious schemes to reduce Europe’s reliance on fossil fuels generally, and energy supplies from Russia specifically, all face major […]

ZRG Rovuma basin

Adnoc’s XRG seals a 10% stake in African gas projects

XRG, the low-carbon energy and chemicals investment arm of Abu Dhabi National Oil Company (Adnoc), has completed its acquisition of a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique. The Rovuma basin, one of the largest gas discoveries in the past 15 years, offers XRG access to liquefied natural […]