Africa
Africa Targets Its USD 2.5 Trillion Capital Pool to Accelerate Cross-Border Infrastructure Projects
African leaders have established a new continent-wide financing platform aimed at transforming Africa’s USD 2.5 trillion domestic capital base into the driving force for major cross-border infrastructure projects.
The Africa Infrastructure Financing Facility (AIFF), established jointly by AUDA-NEPAD and the Alliance of African Multilateral Financial Institutions, was launched on 14 February during the Third Presidential High-Level Dialogue of African multilateral lenders, held alongside the 39th African Union Summit.
The initiative aims to address one of the continent’s most persistent challenges: the disparity between political approval of major infrastructure projects and the actual funding required to implement them.
The dialogue was convened under the patronage of the President of the Republic of Ghana, John Dramani Mahama, who also leads the African Union’s agenda on financial institutions.
Mahama stated that Africa’s development issue is not the absence of funds, but the lack of a coordinated system to direct local capital into infrastructure, industrialisation, and sectors that create jobs.
Africa has domestic capital pools exceeding USD 2.5 trillion. The challenge is not the availability of capital, but how deliberately we deploy it,” he said, warning that fragmented financial markets continue to inflate Africa’s borrowing costs.
Source: Business Insider Africa
Ethiopia
Ethiopia Emerges Second-Largest Investment Destination, Attracting USD 18.6 Billion In 5 Years
Ethiopia has become Africa’s second-largest destination for foreign direct investment (FDI), highlighting its increasing attractiveness to international investors and the effects of recent economic reforms.
Speaking at an investment forum in Addis Ababa, Ethiopian Investment Commissioner Zeleke Temesgen stated that the country attracted a total of USD 18.6 billion in FDI over the past five years, ranking just behind Egypt. Ethiopia also recorded USD 4 billion in inflows during the 2024 to 2025 fiscal year, marking a 22.7 per cent year-on-year increase.
Temesgen observed that China remains Ethiopia’s main investment partner, with Chinese firms representing the largest share of inflows. Data from the United Nations Conference on Trade and Development show that China accounts for about 60 per cent of FDI projects in the country, particularly in manufacturing and services.
The rise in investment is driven by policy changes that have allowed foreign involvement in sectors previously restricted, such as retail, wholesale, import, and export businesses.
Source: Business Insider Africa
Libya
Eni Finds over 1 Trillion Cubic Feet of Gas in Libya as Europe Races to Secure Energy
Italy’s Eni has found over 1 trillion cubic feet of gas offshore Libya, boosting Europe’s effort to find alternative energy sources nearby.
Eni stated that early data shows a “high quality reservoir,” with well tests confirming the fields can produce commercially viable output.
Through its joint venture with Mellitah Oil & Gas and the NOC, Eni plays a key role in Libya’s gas expansion plans.
The partnership aims to boost output to 750 million cubic feet per day by 2026, reinforcing Libya’s role as a key supplier to Europe, especially Italy via the Greenstream pipeline.
The strategy is already changing trade flows. In 2025, Libya became Italy’s largest crude supplier, accounting for almost a quarter of its imports, thanks to shorter shipping routes and lower transport costs.
The latest discovery also aligns with Eni’s broader Africa strategy, where it combines new exploration with selective asset sales. Earlier this year, the company agreed to sell a 10 per cent stake in Côte d’Ivoire’s Baleine field to Azerbaijan’s SOCAR while maintaining operatorship.
Source: Business Insider Africa
Namibia
Namibia Leads Africa’s USD 124 Billion Critical Minerals Race as Global Demand Surges
Namibia is quickly emerging as one of Africa’s leading mineral exploration hubs, attracting increasing investor interest as global demand for critical resources grows.
The country has received over 800 new exploration licence applications, according to Mining Commissioner Isabella Chirchir, highlighting growing competition to gain access to minerals vital for clean energy technologies. Namibia is now planning to overhaul its licensing system by introducing digital platforms to reduce administrative delays and speed up approvals.
More than 600 environmental applications remain pending, alongside the influx of new bids, highlighting both the substantial investor interest and the regulatory pressure faced by authorities. Namibia already holds 588 active prospecting licences and is aiming to expand beyond its traditional strengths in uranium and diamonds into a broader critical minerals ecosystem.
The renewed drive for exploration arises as demand for critical minerals is expected to quadruple by 2040, positioning Africa as a key frontier in the global race for resources.
Source: Business Insider Africa
Nigeria
Nigeria Advances USD 20 Billion Gas Pipeline across Chad, Libya, Linking Gas Fields to European Markets
Nigeria is planning to export 30 billion cubic metres of natural gas each year to Europe via a proposed USD 20 billion pipeline corridor that spans Nigeria, Chad, Libya, and Sicily, aiming to unlock long-dormant energy reserves and address Europe’s increasing energy insecurity.
The Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, led a delegation of Nigerian officials and industry stakeholders to London last week to progress discussions on the initiative, which is being developed by the Netoil consortium.
The pipeline is part of a strategic, investment-led plan to accelerate gas monetisation, attract large-scale upstream investment, and create lasting economic value for Nigeria and transit nations.
For Nigeria, the project offers a dual benefit: monetising currently underutilised gas reserves while meeting Europe’s long-term energy requirements.
Source: Business Insider Africa
Rwanda
IAEA Backs Rwanda’s Nuclear Power Plans, Says Country is on the Right Track
Rwanda’s nuclear energy ambitions have received a strong endorsement from the International Atomic Energy Agency (IAEA), with senior officials confirming that the country is heading in the right direction as it prepares for the possible deployment of nuclear power in the 2030s.
An IAEA expert team was in Kigali conducting the first phase of an Integrated Nuclear Infrastructure Review (INIR) mission. The exercise assesses Rwanda’s readiness for safe, secure, and sustainable nuclear power development.
The IAEA assists countries using a structured “milestones approach” designed to guide newcomers through three progressive phases of nuclear development. Rwanda is currently in phase one.
The initial phase primarily concentrates on establishing the institutional, legal, and policy frameworks before making a final decision to build a plant.
IAEA Director Aline Des Cloizeaux clarified that the agency does not approve construction but offers independent advice, technical expertise, and recommendations based on international best practice.
“It is a sovereign decision. The role of the IAEA is to help countries identify gaps and establish action plans to address them,” she said in an interview on the sidelines of the mission.
Rwanda has shown interest in deploying Small Modular Reactors (SMRs), with a projected capacity of at least 110 megawatts in the early 2030s.
Source: KT Press Rwanda
South Africa
South Africa Turns to Credit Guarantees to Draw Private Money into USD 70 Billion Infrastructure Drive
South Africa aims to swiftly expand a new credit-guarantee fund designed to unlock billions of dollars in private investment for infrastructure, as the government seeks to address power shortages and transport bottlenecks that have weighed on the country’s economy.
The programme will support projects ranging from electricity transmission lines and water systems to ports and freight rail, sectors widely seen as critical to improving growth in Africa’s most industrialised economy.
The initiative will be overseen by the Development Bank of Southern Africa (DBSA), a state-owned development finance institution that funds infrastructure across the region.
“It’s going to be a big injection in a very short time,” Mpho Mokwele, group executive for coverage and origination at the DBSA, said, according to Bloomberg. “We now have the fiscal headspace to issue further guarantees to support our infrastructure projects and programs.”
South Africa has long depended on sovereign guarantees to support struggling state-owned companies, especially in the energy and transport sectors. These guarantees pose financial risks for the government because the state must intervene if the companies fail to repay their debts.
According to Bloomberg, those contingent liabilities currently amount to about ZAR 661 billion rand (approx. USD 40 billion).
Source: Business Insider Africa
Tanzania
Tanzania Unveils USD 12.9 Billion Energy Investment Opportunities
Tanzania recently announced investment opportunities worth USD 12.9 billion in the energy sector, aimed at boosting economic growth and expanding access to electricity and clean cooking solutions across the country.
“In power generation alone, 13 projects are planned over the next five years, requiring USD 2.77 billion. Once completed, they will add 1,421 megawatts to the national grid,” she said.
Twenty-three electricity transmission projects valued at USD 1.21 billion are planned, including the construction of 1,350 kilometres of transmission lines and new substations, which will bolster the national electricity network.
Deputy Minister Makamba also emphasised Tanzania’s natural gas potential, noting that the country has over 57 trillion cubic feet of untapped gas reserves.
She emphasised the importance of investing in gas extraction, processing, and utilisation for electricity and industrial development.
Regarding clean cooking energy, the government aims for 75 percent adoption by 2030 through the distribution of improved stoves, gas, and other environmentally friendly technologies.
She urged investors to seize these opportunities, affirming that the government is working to enhance the business climate and implement policies that encourage investment.
Source: The Respondent TZ
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Reports
2026 M&A Trends: Navigating a Rapidly Rebounding Market | McKinsey & Company
As 2025 unfolded, the picture became clearer. While M&A activity in the first half of the year remained uneven, momentum grew in the second half. Hesitation gave way to pragmatism, and activity picked up across many sectors and regions, not because uncertainty diminished but because companies adapted to operating within it. Boards became more willing to take action without perfect visibility, investors recalibrated expectations, and dealmakers started to move again, selectively and with purpose, a shift that is continuing into 2026.
This report captures that perspective. By analysing industry deep dives and M&A insights, it explores how dealmaking developed in 2025 and how leaders can leverage these trends to turn renewed momentum into sustainable value in the years to come.
Click here to download and read the report.
Critical Minerals, Critical Decisions: Industrial Policy for the Energy Transition | UNCTAD
Critical energy transition minerals, such as lithium, copper, nickel, cobalt, graphite, and rare earth elements, are central to the global shift towards low-carbon energy systems. For developing countries, these resources present a significant opportunity for structural transformation, but also pose a risk of renewed dependency if not managed with a coherent industrial strategy.
This study investigates how countries can utilise critical minerals for sustainable growth while navigating constraints imposed by global trade regulations, investment treaties, and changing geopolitics. Regional collaboration and value-chain integration are identified as vital to expanding markets, sharing infrastructure, and building collective resilience. The study emphasises that industrial policy must go beyond merely promoting value addition or shifting from mining to processing. It should aim to foster broader economic diversification by strengthening backwards, forward, and lateral linkages between the mining sector and other productive sectors of the economy, thereby harnessing critical minerals for structural transformation and sustainable development.
Click here to download and read the report.
Two Decades of intra-BRICS Trade: Trends, Patterns & Policies | UNCTAD
Global trade is being reshaped by changing trade relationships and policies, evolving supply chains, and the pursuit of resilient growth. This report explores two decades of trade expansion among the 10 BRICS members, highlighting how economic links are developing and opening new opportunities for the global South.
BRICS is named after its founding members: Brazil, the Russian Federation, India, China, and South Africa. However, it has expanded to include Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates.
The report indicates that trade among BRICS members has expanded rapidly since 2003, driven by strong complementarities in natural resources, manufacturing, and technology, along with a shifting global environment. However, barriers to policy-level collaboration still restrict the full potential of intra-BRICS trade, emphasising the need for targeted strategies to boost cooperation and develop more extensive trade networks.
Click here to download and read the report.
2025 Private Capital in Africa Activity Report | Stears
Navigate Africa’s private capital markets with clarity and confidence. The 2025 Private Capital in Africa Activity Report from Stears offers the most comprehensive, data-driven analysis of private investment activity across the continent, including venture capital, private equity, private debt, infrastructure finance, and M&A.
Built entirely on verified transactions from the Stears Private Transactions Database, this report analyses 705 deals valued at USD 27.3 billion, examining where capital flowed, which sectors gained prominence, and how investor behaviour evolved during a year characterised by consolidation, crossover investing, and renewed confidence in scaled platforms.
