The African Continent - 11 February 2026

Energy and mining momentum is building across Africa, with Libya, Nigeria, Egypt, and Morocco advancing major hydrocarbon projects and licensing rounds . Across West and Southern Africa, countries are expanding copper, gold, iron ore, and LNG production while strengthening financing structures and sovereign mechanisms to secure greater value from critical minerals . Security developments remain central, as U.S. military engagement in Nigeria deepens and Kenya addresses the Russia-linked fighter issue through diplomatic channels . Meanwhile, IMF negotiations, reserve diversification measures, and large-scale infrastructure initiatives reflect a continent-wide drive toward macroeconomic stability and long-term growth .

LIBYA

• National Oil Corporation Chairman Mesud Suleiman met Malta’s Ambassador to Tripoli to discuss expanding cooperation in energy, oil, and gas. The sides agreed to increase investment and technical coordination and facilitate visa procedures for sector employees.

• Libya’s first oil and gas licensing round since 2007 awarded only 5 out of 20 exploration blocks, with limited interest from global firms, particularly in offshore areas. QatarEnergy secured one block, and the NOC established a technical committee to review companies’ reluctance amid low participation.

• The Government of National Unity participated in the 48th African Union Executive Council meeting in Addis Ababa, reaffirming Libya’s commitment to active engagement in AU decision-making. Discussions covered Peace and Security Council elections, human rights appointments, and AU participation in the G20.

• The Benghazi Chamber of Commerce met a Turkish business delegation led by the Bursa Chamber of Commerce and Industry (KFA) to discuss economic cooperation and joint fair organisation, agreeing to strengthen Libya–Türkiye trade ties.

• The High Council of State called on the Atomic Energy Authority to conduct comprehensive nationwide radiation safety inspections to protect public health, particularly regarding nuclear use in healthcare and radioactive contamination monitoring.

• Libya signed the official participation agreement for Expo 2027 in Belgrade, aiming to showcase its economic and investment potential and strengthen bilateral ties with Serbia.

NIGERIA

• Nigeria, alongside Namibia and Mozambique, is expected to play a key role in raising Africa’s oil and gas investments to $50 billion in 2026. The Nigerian Upstream Petroleum Regulatory Commission plans to offer 50 blocks in the 2025 licensing round under the Petroleum Industry Act 2021 to attract global investors.

• The House of Representatives established a seven-member subcommittee to oversee gas supplied to power plants, following concerns over continued gas deliveries to the non-operational Sapele Power Plant and public scrutiny of supply transparency.

• PENGASSAN President Festus Osifo stated that the old Port Harcourt Refinery is 90% rehabilitated and could resume operations within a week pending NNPCL approval, contradicting claims that state refineries remain loss-making.

• The United States plans to deploy approximately 200 troops to train the Nigerian military in counterterrorism operations, expanding its on-ground presence following earlier air operations.

• The Central Bank of Nigeria authorised licensed foreign exchange bureaux to purchase up to $150,000 weekly to boost market liquidity, imposing strict compliance and reporting requirements to reduce parallel market pressures.

SOMALIA

• Petroleum and Minerals Minister Daahir Shire Mohamed met Empire Investment Bank and South African Chamber of Commerce officials at the Africa Mining Investment Conference in Cape Town to present Somalia’s mineral and natural resource potential, with investors expressing interest.

• Turkish warships docked at Mogadishu Port under maritime security cooperation, expected to support Somali Navy and Coast Guard capacity-building and deepen defence and energy partnerships.

MOROCCO

• Morocco and Nigeria have moved into the implementation phase of their 5,000+ km strategic gas pipeline project after completing detailed engineering studies. The pipeline aims to enhance energy security for Morocco and Europe, supply 13 West African countries, and potentially support future green hydrogen transport.

• The Moroccan government is establishing regional artificial intelligence excellence centres under the “Jazari” initiative to adapt AI technologies to local needs. The national network aims to accelerate digital transformation and extend technological benefits beyond major cities.

• Port operator Marsa Maroc signed an agreement with Liberia’s National Port Authority to operate the Port of Monrovia starting in the first half of 2026. The deal covers infrastructure rehabilitation and modernisation, with plans for a new multipurpose terminal development in later phases.

EGYPT

• Egypt and Cyprus agreed to establish a company to build a 170 km subsea pipeline from the Aphrodite gas field to Egypt at a cost exceeding $2 billion, with planned capacity of 800 million cubic feet per day. The project, expected online by 2030, aims to reduce Egypt’s supply gap and enable LNG exports.

• Petroleum Minister Karim Badawi met JPMorgan and BlackRock executives to attract financing and direct investment into oil, gas, and mining. Egypt aims to reduce arrears to foreign oil companies from $6.1 billion to about $1.2 billion, noting a 40% increase in private investment and 5.3% economic growth.

KENYA

• The Kenyan government condemned brokers who lured citizens to Russia with promises of high wages and forced them to fight in Ukraine. Foreign Minister Musalia Mudavadi will travel to Moscow to address the issue, with authorities confirming dozens of evacuations and noting South Africa is conducting similar engagements with Russia.

• The Central Bank of Kenya announced plans to begin purchasing gold to diversify reserves, currently standing at $12.46 billion, in order to strengthen reserve composition.

• Éléonore Caroit will visit Ethiopia and Kenya to promote the Africa–France Summit scheduled for May in Nairobi, with new cooperation and financing agreements expected in health, fire prevention, and technical training.

ZIMBABWE

• Zimbabwe’s cabinet supported a constitutional amendment extending the presidential term from five to seven years, enabling President Emmerson Mnangagwa to remain in office until 2030. The bill also proposes electing the president through parliament rather than direct public vote.

• Caledonia Mining CEO Mark Learmonth said the $150 million bond-financed Bilboes gold mine will be a “game changer” for Zimbabwe. Scheduled to begin production in 2028 with annual capacity of 200,000 ounces, it will become the country’s largest gold mine.

ZAMBIA

• Zambia requested a new IMF programme, with an IMF mission expected between late February and early March. The government aims for a staff-level agreement in May followed by Executive Board approval.

• UAE-based IRH and state-owned ZCCM-IH will review investment and financial arrangements to restart Mopani copper mine production, following IRH’s acquisition of a 51% stake, with plans to extend mine life and boost output.

ANGOLA

• Angola exported its first copper concentrate in January 2026 from the $250 million Tetelo copper mine as part of efforts to diversify non-oil mineral revenues. Output is projected at 19,000 tonnes this year and 36,000–40,000 tonnes annually by 2030.

GHANA

• Ghana is seeking financing and risk mitigation cooperation with the Africa Finance Corporation (AFC) to accelerate bauxite, gold, and iron ore projects. The sides are evaluating mechanisms to finance large-scale investments and develop integrated mineral value chains across Africa.

SENEGAL

• Senegal’s crude oil production has stabilised near 100,000 barrels per day, while LNG production jointly developed with Mauritania continues to increase, reflecting upward momentum in national energy output.

SUDAN

• Sudan is expanding solar mini-grids in rural and underserved areas through a $2.9 million GEF–UNDP-supported project for 2022–2026. The initiative aims to simplify regulation, attract private investment, and reduce diesel dependence.

DEMOCRATIC REPUBLIC OF THE CONGO

• The DRC warned it may seek alternative partners if its critical minerals framework agreement with the United States does not translate into concrete projects. Mines Minister Louis Watum Kabamba stressed that the country will not “sell its resources for free” and described the agreement as still at a preliminary stage.

GUINEA

• Guinea is finalising the establishment of a sovereign wealth fund to finance the Simandou 2040 strategy linked to the $20 billion Simandou iron ore project. The fund aims to mobilise public-private capital to finance 40–50% of the programme and support a 122-project development plan.