The proposed Africa Energy Bank, focusing on oil and gas ventures across the continent, is set to kick start later this year, with an initial authorized capital of $5 billion.
The bank, a partnership between Afreximbank and the African Petroleum Producers Organization (APPO), is meant to help plug a funding gap in Africa amid pressure on major banks from environmental groups to shift investment dollars away from climate-warming oil and gas projects.
Each African member country is expected to contribute a minimum of $83 million for a total of around $1.5 billion.
At COP29 in Baku, Azerbaijan, Morocco moves up one spot in the global carbon neutrality ranking, taking it above several
Egypt is pursuing long-term liquefied natural gas (LNG) agreements with U.S. and other foreign companies to reduce its reliance
The Africa Centres for Disease Control and Prevention (Africa CDC) has approved the first locally manufactured PCR test for mpox,
Protesters in Zintan, a town located approximately 85 miles southwest of Tripoli, disrupted operations at a major Libyan refinery on
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