African markets and business updates

Nigeria’s electricity distribution companies (DisCos) billed customers N250.79 billion out of N333.94 billion worth of energy received in July 2026, representing a 75.10 per cent billing efficiency

Forex Auction Experiences in Ghana 2026

TotalEnergies (40%, operator), together with its partner AMNI (60%), have taken the Final Investment Decision (FID) for the development of the Ima gas field, straddling the OML 112 and 117 offshore licenses in Nigeria.Located in shallow waters close to Bonny Island, Ima gas field will be developed with a single platform, connected through a 22 […]

The amount rose from N3.18 trillion recorded in May, bringing the combined allocation for the two months to N6.58 trillion.

American Renaissance Minerals (ARM), a candidate to revive Cameroon’s Nkamouna cobalt-nickel-manganese project, proposes to start production with an initial modular investment of about $85 million, or CFA49.1 billion, a fraction of the upfront capital required under the previous development plan. The figure appears in a September 24, 2026 publication by the U.S. Embassy in Yaoundé. ARM targets first production within 18 months after a potential mining permit takes effect. The proposed approach marks a major departure from the project designed under Geovic.…

TotalEnergies Marketing Cameroon (TEM Cameroon) generated CFA500.55 billion in revenue and CFA9.24 billion in net profit in 2025, offering a rare look at the financial performance of the local subsidiary and its weight within the group’s regional portfolio. The figures appear in the 2025 annual accounts of TotalEnergies Marketing Afrique (TEMA). TEMA’s subsidiaries and investments table puts TEM Cameroon’s revenue at precisely CFA500.546 billion and net income at CFA9.236 billion. The holding company owns 33% of TEM Cameroon, which has share capital of CFA29.528 billion. The book value of TEMA’s stake stands at €2.523 million.…

Two Chinese contractors working on the Maroua-Bogo-Pouss road in Cameroon’s Far North are owed about CFA12 billion after an African Development Bank (AfDB) loan agreement closed while construction was still underway. CGCOC Group and Xinjiang Communication Construction Group have accumulated the unpaid bills on their respective contracts, according to a document presented during a September 23, 2026 review of jointly financed road projects in Yaoundé. The payment problem stems in part from the closure of the AfDB loan agreement on December 31, 2024.…

Nearly 10 months after the first construction sites opened, reconstruction of the Ngaoundéré-Garoua road remains largely stuck at the preliminary stage. None of the five sections has reached more than 5% physical completion, even though the four Chinese contractors involved have already received a combined CFA30 billion in advance payments. The figures come from a review of jointly financed road projects by Cameroon’s Ministry of Public Works and reveal a widening gap between the money already advanced, the time elapsed on several contracts and the work completed on the ground. The gap is particularly pronounced on the first sections, where construction began in late November 2025.…

BGFI Bank Cameroon provided more than €20 million, or CFA13.1 billion, to prefinance technical studies for the Kempinski Shekinah Palace in Douala before construction began, an early commitment that the project’s developer says helped reduce its risks and attract international partners. Rodolphe Simo Kam, chairman and CEO of All Luxury Suites Group (ALS Group), disclosed the amount on September 25, 2026 during the groundbreaking ceremony for the complex in Bonanjo. Prime Minister Joseph Dion Ngute presided over the ceremony as the personal representative of President Paul Biya.…

Iran has indicated that vessels seized over alleged links to the United States and Israel could be sold to compensate people affected by the recent conflict. Shipping reports have identified the container ships MSC Francesca and Epaminondas among the vessels potentially concerned. However, no final decision regarding their sale has been announced, as reported by […] Iran has indicated that vessels seized over alleged links to the United States and Israel could be sold to compensate people affected by the recent conflict. Shipping reports have identified the container ships MSC Francesca and Epaminondas among the vessels potentially concerned.…