UN, AfDB reports carefully optimistic about Africa’s 2025 economic outlook, despite headwinds

This year, Africa is poised for modest economic growth, with recovery driven by the continent’s major economies, says a new UN report, with the AfDB projecting an annual growth rate of 4.3%, up from 3.7% last year. Nigeria, Egypt, and South Africa are expected to spur economic growth on the continent in 2025, according to […]

Libya: Italian ENI starts exploratory drilling in Ghadames Basin

Italian oil company Eni announced on September 24 that it will begin onshore exploratory drilling in Libya’s Ghadames Basin next month, with plans to launch an offshore drilling campaign in the Sirte Basin by the end of 2025. Speaking at the Libyan-Italian roundtable in Rome, Martina Obizzi, President of the North Africa and Levant region […]

Senegal-USA: Exim Bank commits $100 mln to improve access to electricity

In Senegal, Exim Bank of the United States has made a preliminary commitment worth $ 86 million for Senegal’s rural electrification projects. The preliminary commitment is the first that Exim Bank has approved under a recently signed memorandum of understanding with Senegal’s Ministry of Economy, Planning and Cooperation. If the transaction reaches final board approval, […]