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TotalEnergies to Strengthen Exploration & Production (E&P) Activities in Congo with $600M Investment

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TotalEnergies

On the back of recent investments, exploration and production updates and strong willingness by the government, the Republic of Congo is taking historic measures to ensure its oil and gas industry drives resource monetization and energy access throughout Africa

JOHANNESBURG, South Africa, May 23, 2024/APO Group/ — 

Oil and gas supermajor TotalEnergies has announced that it will invest $600 million to strengthen exploration and production activities in the Republic of Congo in 2024. The investment will be used to finance exploration and maintain production in the country’s deep offshore Moho Nord field, which accounts for approximately half of all Congolese oil production, or roughly 140,000 barrels per day (bpd).

As the voice of the African energy sector, the African Energy Chamber (AEC) commends the commitment by TotalEnergies to Congo’s oil and gas future. The $600 million investment signals a strong intent by the IOC to develop and monetize Congolese hydrocarbons for the benefit of the country and will unlock a wave of economic opportunities for the broader region.  

The TotalEnergies-operated Moho Nord field brings together four reservoirs that extend over 320km2 in water depths of 750m to 1,200m. As such, TotalEnergies’ commitment to the Republic of Congo’s oil production is poised to ensure additional production of 40,000 bpd, adding to the country’s current levels of 267,000 bpd. TotalEnergies also operates the deep offshore Marine XX permit, which extends over an area of 3,285.8km2 at water depths of up to 2,000m. Two drilling rigs arrived at the permit this month, with TotalEnergies CEO Patrick Pouyanné expressing his optimism that the field will yield a discovery before the end of the year.

Congo’s oil and gas can play a much greater role in alleviating energy poverty and driving industrialization in Africa

In April this year, TotalEnergies signed an agreement – through its subsidiary TotalEnergies EP Congo – to acquire a 10% stake in the Moho permit from oil and gas company Trident Energy. Following the completion of this transaction, TotalEnergies will hold an operational stake in the permit with 63.5%, alongside Trident Energy, which will retain a 21.5% share, and the Republic of Congo’s national oil company Société Nationale des Pétroles du Congo (SNPC), which will hold a share of 15%.

“The $600 million investment by TotalEnergies shows that the IOC is in the Republic of Congo to stay. Congo’s oil and gas can play a much greater role in alleviating energy poverty and driving industrialization in Africa, and partnerships with companies to the likes of TotalEnergies will be instrumental in achieving these objectives. We look forward to witnessing new discoveries being made in the coming months,” stated NJ Ayuk, Executive Chairman of the AEC.

In addition to TotalEnergies’ investment plan, the Republic of Congo is set to benefit from a new strategic partnership with Algeria in the field of hydrocarbons and energy. A memorandum of understanding was signed between Algeria’s Minister of Energy and Mines Mohamed Arkab and the Republic of Congo’s Minister of Hydrocarbons Bruno Jean-Richard Itoua on May 21 to enable the development of a new roadmap for bilateral relations between the two countries.

The agreement will also facilitate the sharing of expertise between Algeria’s state-owned Sonatrach and the SNPC headed by Raoul Ominga in the field of downstream oil. The two countries have also expressed their optimism and support to the development of an African Energy Bank to focus investment in oil and gas projects across the continent.

These major developments come after the confirmation of the formation of a new Gas Master Plan in the country by the Republic of Congo’s Ministry of Hydrocarbons during the Invest in African Energy 2024 summit in Paris this month. Currently in its final stages, the new plan will provide a framework that incentivizes the development of the national gas sector while serving as a roadmap to harnessing gas resources for domestic consumption and export. This represents a major opportunity for regional and international investors and will promote gas utilization while reducing the country’s dependence on crude oil revenue. The new Gas Master Plan is being developed by SNPC with support from energy intelligence firm Wood Mackenzie. SNPC CEO Raoul Ominga has been working closely with the Ministry to get final approval. This will open the door for a lot of investment in the gas sector in Congo.

In addition to the Republic of Congo’s established fields, the plan opens the door to negotiate existing contracts and is set to culminate in the establishment of a new gas code in the country. The new code is poised to facilitate the commercialization of stranded assets and flared natural gas while allowing the government to make changes to current fiscal terms and make small-scale projects more economically viable. Approval by parliament for the new code is expected by June this year, according to Minister Itoua.

Distributed by APO Group on behalf of African Energy Chamber.

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Hainan FTP marks 6-month milestone of special customs operations, signs deals during Hong Kong visit

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Hong Kong

HONG KONG SAR – Media OutReach Newswire – 29 June 2026 – As the Hainan Free Trade Port (FTP) marked the six-month milestone since the launch of its full special customs operations, a Hainan provincial delegation wrapped up a three-day visit to Hong Kong. During the visit, the delegation signed deepened cooperation agreements with several major local chambers of commerce and promoted the latest policies introduced since the island-wide special customs operations took effect.

According to data released by Hainan Province during the visit, Hainan’s foreign trade has surged since the launch of special customs operations. As of June 17, the province’s total goods imports and exports reached RMB 173.98 billion (approximately US$24 billion), up 54.6% year on year. Imports of zero-tariff goods hit RMB 2.645 billion, a 120% jump that generated tariff savings of RMB 440 million. A total of 172,100 new market entities were registered—a 61% increase—including 1,240 foreign-invested enterprises. Zero-tariff items now account for 74% of all tariff lines, benefiting more than 12,000 market entities.

During the Hong Kong visit, China Council for the Promotion of International Trade Hainan Provincial Committee (CCPIT Hainan) signed separate deepened cooperation MOUs with the Chinese General Chamber of Commerce, Hong Kong and the Hong Kong General Chamber of Commerce. Under the MOUs, the parties will establish a regular liaison mechanism for the periodic exchange of economic and trade information, and will promote collaboration in areas including professional services, green finance, the digital economy, supply chain management, and cultural tourism. Mutual enterprise service desks will be set up to provide consulting services regarding policies and projects. The parties will leverage their complementary strengths to help Chinese mainland enterprises access overseas markets via Hong Kong, while facilitating Hong Kong companies’ entry into the Chinese mainland through Hainan.

The delegation also held talks with the British Chamber of Commerce in Hong Kong and the American Chamber of Commerce in Hong Kong, exploring ways for British and American businesses to leverage Hainan’s value-added processing tariff exemptions and multifunctional free trade accounts to position themselves in regional supply chains and cross-border investment and financing. HSBC, De Beers, and other British firms are already active in Hainan, and the UK served as the Guest of Honor country at the 2025 China International Consumer Products Expo.

According to industry analysts, amid the shifting international trade landscape, Hainan is leveraging Hong Kong’s “super-connector” role to accelerate its integration with global capital and business networks, while simultaneously offering the Hong Kong business community a policy testing ground for entering the Chinese mainland market.

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Africa’s Grid Constraints Come into Focus as Regional Markets Push Toward Integration

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Africa

Regional power pools are advancing and renewable pipelines are growing, but the regulatory and financial architecture needed to connect them remains the continent’s most critical infrastructure gap – an issue central to the Power Africa Today conference at AEW 2026

CAPE TOWN, South Africa, June 25, 2026/APO Group/ –Africa’s electricity demand is projected to nearly double to 2,291 TWh by 2050, requiring an estimated $30 billion in transmission and grid infrastructure investment to unlock and integrate new generation capacity. Yet across the continent, grid systems are struggling to keep pace with rapidly expanding supply pipelines and rising demand.

In Nigeria, repeated nationwide grid collapses as recently as February 2026 underscore the fragility of aging transmission infrastructure. In East Africa, tower failures along the 428 km Loiyangalani-Suswa line temporarily stranded output from Lake Turkana Wind Power – Africa’s largest wind installation. Meanwhile, demand growth pressures are accelerating across North Africa, where electricity consumption is expected to rise by around 50% by 2035, driven by urbanization, desalination projects, and climate-related temperature increases.

Despite these constraints, generation investment continues to accelerate across Africa, particularly in renewables, gas-to-power and hybrid systems. However, without equivalent investment in transmission and interconnection, much of this new capacity risks being underutilized or stranded. This growing imbalance between generation and grid capacity is driving a sharper focus on system-wide planning and regional market design – issues that will be central to the newly launched Power Africa Today conference at African Energy Week 2026. The platform will bring together policymakers, utilities, investors and developers to explore how regional interconnection, cross-border trading frameworks and financing structures can better align generation growth with grid expansion.

Power Markets Experiment with Reform

Alongside infrastructure challenges, Africa’s electricity sector is undergoing gradual – but uneven – market reform. Most countries still operate vertically integrated systems dominated by state utilities, but a growing number are introducing competitive frameworks to attract private capital and improve efficiency.

Zimbabwe opened its electricity market to full private participation across generation, transmission and distribution in 2025, targeting $9 billion in new investment. South Africa is advancing one of the continent’s most ambitious grid expansion programs, with plans for 14,500 km of new transmission lines and 133,000 MVA of transformer capacity by 2034, alongside mechanisms designed to crowd in private financing. Kenya, meanwhile, has introduced open access regulations enabling independent power producers to wheel electricity directly to multiple off-takers, reshaping how generation assets interface with the grid.

Interconnected electricity markets are the foundation of Africa’s industrial future

Regional Integration Remains Fragmented

Efforts to connect Africa’s fragmented power systems are progressing, though at different speeds across regions. In Southern Africa, the World Bank’s RETRADE SAPP program, approved in 2025, is deploying $12 million to strengthen renewable integration and transmission capacity across 12 member states. In East Africa, the Ethiopia–Kenya–Tanzania Electricity Highway is now in trial operations at up to 2,000 MW, marking a significant step toward a more interconnected regional grid.

West Africa is also moving toward deeper integration, with permanent synchronization of the West Africa Power Pool expected in 2026. Analysts, including the African Finance Corporation, argue that such synchronization is critical to unlocking large-scale hydropower potential and industrial demand across the region. Longer term, full synchronization between the Eastern and Southern African power pools – targeted for the end of 2026 – could create one of the world’s largest cross-border electricity trading corridors.

Building Bankable Financial Architectures

While interconnection is advancing, infrastructure alone is not enough to create investable electricity markets. Investors consistently cite the lack of standardized offtake structures, creditworthy counterparties, and cross-border payment guarantees as key barriers to scaling capital deployment.

New models are emerging to address these constraints. Africa GreenCo, operating across Zambia, Namibia and South Africa, is helping to aggregate independent power producers under a single creditworthy intermediary, standardizing power purchase agreements and reducing counterparty risk. At a broader level, AUDA-NEPAD estimates that Africa requires around $30 billion in additional investment to complete priority transmission corridors and establish three fully interconnected regional trading blocs by 2030.

“Interconnected electricity markets are the foundation of Africa’s industrial future,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “The question at Africa Energy Week is not whether integration is possible – the evidence is already there. The question is which regulatory frameworks and financial structures will get projects to financial close, and which markets will be ready when capital is looking to move.”

The Power Africa Today conference will run alongside AEW 2026, taking place October 12–16 in Cape Town, and will focus on the regulatory, financial and infrastructural architecture needed to build interconnected electricity markets capable of attracting institutional capital and delivering reliable, cross-border power at scale.

Distributed by APO Group on behalf of African Energy Chamber.

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African Development Bank Group and La Francophonie Sign Partnership Agreement to Promote Youth Employment in Francophone Africa

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Remove term: African Development Bank African Development Bank

The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France

PARIS, France, June 25, 2026/APO Group/ –The African Development Bank Group (www.AfDB.org) and The International Organization of La Francophonie (OIF) on Wednesday entered a strategic partnership to strengthen digital skills, employability, and entrepreneurship of young people and women in five African countries: Benin, Cameroon, Guinea, the Democratic Republic of the Congo and Madagascar.

 

The agreement was signed during a meeting between the Secretary General of La Francophonie, Louise Mushikiwabo, and African Development Bank Group President, Dr Sidi Ould Tah in Paris, France. The agreement will address a major challenge faced by countries in the Francophone world and across Africa: providing young people with access to opportunities offered by the digital economy and fostering the emergence of a new generation of entrepreneurs.

The partnership calls for the implementation of training programs in digital professions and entrepreneurship, in fields such as web and mobile development, cybersecurity, artificial intelligence, and data analysis. Participants will also receive guidance toward employment and self-employment, as well as support for innovation and business creation, notably through training camps, prototyping activities, and partnerships with incubators and accelerators.

The African Development Bank Group and OIF will also work with national authorities in these five countries and training institutions to sustainably strengthen local capacities and promote ownership of the programs by national stakeholders. An initial pilot phase, lasting 12 to 24 months, will be rolled out in the five partner countries, followed by a gradual expansion to other member states depending on the results achieved.

The African Development Bank Group is pursuing a bold agenda based on “Four Cardinal Points” developed by Dr Ould Tah, the third of which is ‘Turning Demographics into a Dividend.’ This is about strategically converting Africa’s rapidly growing and youthful population into a decisive engine of inclusive growth, productivity, and innovation through large-scale investment in human capital—particularly youth and women.

 

It sees Africa’s growing young population not as a risk, but as a major asset. With the right policies and investments, this potential can create jobs, help small businesses grow, bring more informal businesses into the formal economy, and equip young people with the skills needed for the future. By investing more in education, science and technology, vocational training, entrepreneurship, finance, and digital tools, Africa can help its people drive economic transformation, stay competitive, and build lasting, resilient growth.

The OIF said the agreement marked the first concrete step in its initiative to mobilize innovative and additional funding for its most impactful projects.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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