Tag: Featured

Pan African Resources
BusinessHot News

Pan African Resources approves $228 million plan to expand Mogale gold operations

Pan African Resources advances a $228 million Mogale gold expansion targeting 561,000 ounces over a 15-year project life.

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Supermarket Income REIT
BusinessHot News

Supermarket Income REIT acquires six UK grocery assets for $141 million

Supermarket Income REIT acquires six UK grocery assets, deploying its July equity raise and strengthening its UK grocery property portfolio.

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Kapumpe Chola
BusinessHot News

Kapumpe Chola: Zambian banker who rose through African banking to lead FNB Zambia

Kapumpe Chola, FNB Zambia’s first female CEO, brings 26 years of banking experience across Africa and the UK to the bank’s leadership.

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ReconAfrica Namibia oil test results
BusinessHot News

ReconAfrica raises $16 million to advance Namibia drilling program

ReconAfrica raises $16 million to fund drilling and production testing at its Kavango Basin project in Namibia, advancing its exploration programme.

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BusinessHot News

Bafana Molomo: Botswana investor behind Aleyo Capital’s private-equity growth

Bafana Molomo, co-founder of Aleyo Capital, has built a private-equity career spanning asset management, development finance and Southern Africa.

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Infinity Power
BusinessHot News

Infinity Power targets record-low solar tariffs with $83 million Côte d’Ivoire projects

Infinity Power is advancing two Côte d’Ivoire solar projects worth $83 million, targeting record-low tariffs and 80MW of new clean energy capacity.

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French giant TotalEnergies
BusinessHot News

French giant TotalEnergies strikes new offshore oil in Angola after $10B pledge

TotalEnergies strikes offshore oil in Angola and secures two new exploration blocks, following a pledge to invest $10 billion over the next five years.

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Terra Industries founders Nathan Nwachuku and Maxwell Maduka.
TechnologyBusinessHot News

Nigeria’s Terra Industries wins $2 million lithium mining deal after fresh funding

After growing its seed round to $52 million, Nigeria’s Terra Industries lands $2 million in mining surveillance contracts to protect local lithium sites.

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Nigeria LNG Ltd. (NLNG) plans to start operations at its $10 billion Train 7 project by the end of 2027, as the liquefied natural gas producer works to expand output and address persistent constraints on gas supply. Managing Director Adeleye Falade disclosed the target to reporters on the sidelines of the Gastech conference in Bangkok. The project, located on Bonny Island in Nigeria, is designed to increase NLNG’s production capacity to 30 million metric tons a year from 22 million metric tons. Train 7 has faced repeated delays, including setbacks linked to the COVID-19 pandemic and the war in Ukraine. The latest target puts the project on a path toward completion as Nigeria seeks to increase its LNG production capacity. Gas supply remains key constraint NLNG remains under a force majeure declared in 2022 after widespread flooding disrupted its gas supply, Falade said at the conference. The company expects to lift the force majeure once plant utilization reaches 90 percent. NLNG is currently operating at between 82 percent and 83 percent utilization, according to Falade. “We still have a delta of about 15 percent that we need to close,” he said. “Operationally, we are able to do that, but our biggest constraint is gas supply, and we're working with all the relevant people, including the government, to be able to get more gas to flow into the plant.” The comments highlight the importance of securing additional feed gas as NLNG works to raise production and meet its existing commitments. The company is focused on fulfilling its contractual obligations to buyers while seeking to maximize available production, Falade said. Buyers seek more LNG Interest in additional LNG volumes and spot cargoes has increased following disruptions to exports through the Strait of Hormuz during the Iran war, Falade said. “People are looking at more diversified, reliable sources of supply,” he said. The increased interest comes as buyers seek alternative sources of LNG amid disruptions affecting established supply routes. For NLNG, the priority remains its existing customer commitments while making use of additional production capacity where available. “Our priority currently is to continue to make sure that we fulfil our obligations to our existing customers and maximize as much production opportunity as possible that we have,” Falade said. Ownership and expansion NLNG is majority-owned by the Nigerian National Petroleum Company, with foreign partners including Shell, TotalEnergies and Eni. The Train 7 expansion is expected to raise the company’s nameplate capacity by 8 million metric tons a year, taking total capacity from 22 million metric tons to 30 million metric tons. For NLNG, the expansion comes alongside efforts to improve utilization at its existing facilities. The company’s ability to increase output remains tied to the availability of sufficient gas supplies, according to Falade. The end-2027 startup target therefore places both the completion of Train 7 and continued improvement in gas supply at the center of NLNG’s plans to increase LNG production.
BusinessHot News

Nigeria’s trade surplus doubles to $9.5 billion on refining shift

Nigeria’s trade surplus doubled to $9.5 billion in the second quarter of 2026 as rising output from Dangote Refinery curtailed costly petroleum imports.

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South African banking giant FirstRand.
BusinessHot News

South Africa’s FirstRand rewards investors with record payout despite UK hit

FirstRand raised its full-year dividend 16 percent to a record $0.33 per share, backed by double-digit profit growth across its African banking units.

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Jasper Musadaidzwa
BusinessHot News

Zimbabwean mining executive Jasper Musadaidzwa named CEO of Kavango Resources

Zimbabwean mining executive Jasper Musadaidzwa becomes Kavango Resources CEO, bringing 27 years of experience as the company targets Zimbabwe gold production.

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Jean-Claude Feutheu
Hot NewsLuxury

Cameroonian businessman Jean-Claude Feutheu’s hotel ordered to quit property ahead of $10 million auction

Cameroonian businessman Jean-Claude Feutheu’s Djeuga Palace hotel faces eviction as disputed Douala property heads to a $10 million auction.

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