Kenya is reportedly close to receiving a $1.5 billion loan from the United Arab Emirates to stabilize its economy and raise foreign reserves, amidst growing UAE influence in Africa.
The Dangote Refinery is reportedly supplying 60% of Nigeria's domestic petrol, generating over 30 million liters of gasoline daily, and aiming to meet the country's 350,000 barrels per day demand.
A $160 million South African phosphate mine, owned by billionaire Patrice Motsepe, faces a new legal challenge from the World Wildlife Fund over environmental concerns.
Oil marketers in Nigeria are buying petrol for N797.66 per liter, a drop from N817.82, as Dangote Refinery's price war forces independent marketers to run at a loss, with daily losses of N2.5 billion.
Dangote Refinery's decision to halt petrol sales in Naira and consider selling in USD may lead to a surge in demand for US dollars and potential fuel scarcity in Nigeria.
Nigeria's state-owned oil giant, NNPC Ltd, is in the final stages of securing a listing on the capital market, marking a significant milestone in the country's energy sector.
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