New Post Africa

Category: Africa

  • Afreximbank Secures $4bn Financing for Dangote Refinery

    Afreximbank Secures $4bn Financing for Dangote Refinery

    LAGOS, NIGERIA, 01 April 2026 (NPA) — The African Export-Import Bank (Afreximbank) has underwritten US$2.5 billion of a US$4 billion senior syndicated term loan in favour of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP).

    Afreximbank and Access Bank acted as co-Mandated Lead Arrangers for the five-year facility, designed to consolidate existing financing, optimise capital structure, and align with the refinery’s operational status and long-term growth plan.

    The transaction represents a major milestone for DPRP, Africa’s largest refinery and petrochemical complex, with a capacity of 650,000 barrels per day. The facility will enhance balance sheet flexibility, strengthen financial resilience, and support the refinery’s role as a strategic supplier of refined petroleum products to Africa and global markets.

    Afreximbank’s US$2.5 billion share is the largest in the syndicate, underscoring its leadership in mobilising capital to drive Africa’s industrialisation, promote intra-African trade, and bolster energy security. Since refining operations began in February 2024, the Bank has provided a US$1 billion working capital facility and acted as Financial Adviser on the Naira-for-Crude initiative, which enables crude purchases and refined product sales in local currency.

    Speaking in Cairo, Afreximbank President Dr George Elombi said: “We take immense pride in being the single largest provider of financing to the Dangote Group. When we invest in ourselves, we build a secure and resilient future for our continent.” He noted that Afreximbank has invested about US$15 billion in the Dangote Group since 2015.

    Aliko Dangote, President and Chief Executive of Dangote Industries Limited, described the financing as “an important step in strengthening the financial foundation of Dangote Petroleum Refinery & Petrochemicals and positioning the business for the next phase of growth.”

    The syndicated loan attracted strong interest from African and international financial institutions, reflecting confidence in the refinery as a transformative industrial asset and in Africa’s broader industrialisation agenda.

  • South Africa targets $118B at landmark investment conference

    South Africa targets $118B at landmark investment conference

    AFRICA, 31 March 2026 (SA News Agency ) — The South Africa Investment Conference (SAIC) has opened in Sandton, with the government targeting R2 trillion ($118B) in new commitments.

    The Sandton Convention Centre is abuzz as delegates arrive for the sixth edition of SAIC, South Africa’s flagship platform to position itself as a credible, competitive investment destination. More than 1,200 delegates are expected, including Cabinet Ministers, business leaders and global investors.

    Held under the theme ‘Invest. Partner. Prosper’, the conference brings together government, investors, development finance institutions and strategic partners to advance investment-led growth and strengthen South Africa’s role as a gateway into Africa. The event aligns with commitments made by President Cyril Ramaphosa in the 2026 State of the Nation Address, setting a more ambitious medium-term investment target.

    SAIC is structured to move from reform credibility to investor confidence, aligning domestic priorities with international interests. Presidential spokesperson Vincent Magwenya noted that investment mobilisation is continuous, with international delegations recognising South Africa as a viable business destination.

    The 2026 conference marks a shift from planning to implementation, as the government accelerates delivery on existing commitments. An additional R2 trillion in pledges is targeted over the next five years, building on R1.5 trillion secured at previous conferences, of which R600 billion has already been invested. These investments have supported new factories, mines and industrial facilities, contributing to job creation and poverty reduction.

    Under the “3Ds” framework — Digitisation, Decarbonisation and Diversification — the conference highlights opportunities in technology, clean energy and expanded trade. It also launches South Africa’s Second Investment Drive, aligned with the priorities of the 7th Administration: inclusive growth, employment, infrastructure and reform.

    Launched in 2018 by President Ramaphosa, SAIC has become central to attracting investors. The 2026 edition takes place amid improved confidence, supported by progress in structural reforms, enhanced energy reliability and broader recovery initiatives. – SAnews.gov.za

  • Adesina applauds Zewde’s Forbes lifetime award as Africa’s beacon of hope

    Adesina applauds Zewde’s Forbes lifetime award as Africa’s beacon of hope

    AFRICA, 31 March 2026 (NPA) — Dr Akinwumi A. Adesina, former President of the African Development Bank Group, has congratulated Sahle-Work Zewde, Ethiopia’s first woman and fifth President, on receiving the Forbes Woman Africa Lifetime Achievement Award at the 2026 Forbes Woman Africa Awards.

    Adesina, in a statement on Tuesday, praised Zewde as an exemplary leader, describing her as a passionate and devoted pan-Africanist, a beacon of hope, and a builder of peace and unity across the continent. 

    Zewde was presented with the Lifetime Achievement Award on 24 March 2026 at the 11th annual Leading Women Summit in Johannesburg. The honour recognised her trailblazing leadership, historic role as Ethiopia’s first female head of state, and her lifelong dedication to diplomacy, peacebuilding, and the advancement of women’s rights. The summit, held at the Sandton Convention Centre to coincide with International Women’s Day, brought together influential leaders, innovators, and policymakers from across Africa, underscoring the importance of women’s leadership in shaping the continent’s future.

    The recognition highlighted Zewde’s enduring impact on governance and gender equality, cementing her legacy as one of Africa’s most influential female leaders. Her achievement stands as an inspiration for future generations of women determined to break barriers and contribute to Africa’s political, social, and economic transformation.

  • African Union convenes Fifth Session on Tax and Illicit Financial Flows in Abuja

    African Union convenes Fifth Session on Tax and Illicit Financial Flows in Abuja

    ABUJA, NIGERIA, 31 March 2026 (NPA) — The African Union has convened the Fifth Session of the Sub-Committee on Tax and Illicit Financial Flows (IFFs) in Abuja, Nigeria, under the theme “Building the Africa We Want Through Tax and Fiscal Policy Reforms to Support Economic Growth and Domestic Resource Mobilisation.”

    The meeting, taking place from 31 March to 2 April under the framework of the Specialised Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration (STC-FMAEPI), comes at a crucial moment as Africa intensifies efforts to finance its own development and strengthen the resilience of its economies. It serves as a strategic continental platform for action-oriented dialogue and policy alignment, bringing together Member States, Pan-African institutions, and key partners to strengthen tax systems, curb illicit financial flows, and advance domestic resource mobilisation (DRM) as a cornerstone of sustainable growth.

    Anchored in the implementation of Agenda 2063: The Africa We Want, the Fifth Session builds on the momentum of the Fourth Sub-Committee on Tax and IFFs and the Eighth Ordinary Session of the STC-FMAEPI held in Johannesburg in September–October 2025. Delegates are expected to consolidate African positions, share practical experiences, and shape collective responses to evolving global and continental tax reforms.

    Hosting the session in Abuja provides Nigeria, through the Nigeria Revenue Service (NRS), with an opportunity to contribute to continental dialogue on tax administration reforms and DRM strategies. It also reinforces collaboration among African tax administrations and institutions in tackling illicit financial flows and strengthening fiscal frameworks.

  • US Congressman warns Nigeria of severe consequences after Jos attack

    US Congressman warns Nigeria of severe consequences after Jos attack

    INTERNATIONAL, 30 March 2026 (NPA) — US Congressman Riley Moore has warned that Nigeria’s relationship with the United States could face “significant consequences” if there is a repeat of the killings in Jos North, Plateau State, where over a dozen people were massacred on Sunday.

    In a statement on Monday, Moore — who served on a Congressional inquiry into alleged killings of Christians in Nigeria and had previously made recommendations to President Trump on resolving the issue — alleged that “radical Islamic terrorists opened fire on the Christians in Jos before hacking them to pieces with machetes.”

    He described the attack as “sickening and unacceptable,” but added that it was “not surprising,” claiming it followed a regular pattern of assaults.

    The statement read in part: “This tragedy follows a pattern of radical Islamic terrorists massacring Christians on Holy Days. In fact, terrorists have attacked Christians in Nigeria on every single holy day in recent memory, except for last Christmas — when President Trump sent 12 tomahawk cruise missiles to stop them.”

    Moore further warned:“Abuja knows this pattern and they must massively ramp up security for the Triduum and Easter. If they don’t take this threat seriously and mobilise to defend our brothers and sisters in Christ, blood of these martyrs will be on their hands, and there will be significant consequences for Nigeria’s relationship with the United States.”

  • AU Commission Chair meets UN envoy on Sudan crisis

    AU Commission Chair meets UN envoy on Sudan crisis

    ADDIS ABABA, 30 March 2026 (NPA) — The Chairperson of the African Union Commission, H.E. Mahmoud Ali Youssouf, today received H.E. Pekka Haavisto Kansanedustaja, Personal Envoy of the UN Secretary-General for Sudan.

    Youssouf congratulated Mr Haavisto on his appointment and reaffirmed the AU’s readiness to work closely with the United Nations in advancing a coordinated response to the crisis. He emphasised the AU’s sustained engagement in Sudan, stressing that any political process must be Sudanese-owned and inclusive.

    Mr Haavisto commended the AU’s leadership in mediation efforts and pledged full cooperation. 

    Both leaders underscored the urgency of an immediate ceasefire as a pathway to a credible political process, and the importance of aligning all mediation initiatives under AU leadership.

    They called on all parties to de-escalate tensions and engage in constructive, inclusive dialogue to pave the way for a return to constitutional order. They also expressed hope that the forthcoming Berlin conference would deliver practical and tangible outcomes.

  • Nigeria sets African record in mixed relay, strengthens world relays bid

    Nigeria sets African record in mixed relay, strengthens world relays bid

    SPORTS, 30 March 2026 (Agency Report) — Team Nigeria has taken a significant step towards qualifying for the World Relays in Gaborone, Botswana, following a record-breaking performance in the mixed 4x100m relay.

    The National Sports Commission, in a statement issued on Sunday by Kola Daniel, Media Adviser to Director-General Bukola Olopade, hailed the team’s remarkable achievement.

    Nigeria’s quartet — Chidera Ezeakor, Maria Thompson, James Taiwo Emmanuel, and Obi Chukwuma — stormed to victory at the Lefika International Relays, producing an outstanding time of 41.44 seconds. Their emphatic gold medal run established a new African benchmark in the newly introduced mixed relay event.

    The Commission noted that the result has significantly boosted Nigeria’s qualification ranking, moving the team into 12th position and strengthening its contention for the global competition.

    Kenya finished second with a strong showing, setting a national record of 41.70 seconds.

  • CAF General Secretary resigns as AFCON 2025 controversies refuse to end

    CAF General Secretary resigns as AFCON 2025 controversies refuse to end

    SPORTS, 30 March 2026 (NPA) — The general secretary of the Confederation of African Football (CAF), Veron Mosengo‑Omba, has resigned during a turbulent period for African football.

    In a statement on Sunday, Mosengo‑Omba said he was retiring, but his departure comes amid controversy over CAF’s decision to strip Senegal of the 2025 Africa Cup of Nations (AFCON) title and postpone the women’s tournament at the last minute. These incidents have left CAF battling a crisis of confidence.

    “Now that I have been able to dispel the suspicions cast on me, I can retire with peace of mind, leaving CAF more prosperous than ever,” wrote Mosengo‑Omba, deputy to CAF president Patrice Motsepe.

    The 66‑year‑old, who hails from the Democratic Republic of Congo and also holds Swiss nationality, was appointed in March 2021. He faced criticism for staying on past CAF’s mandatory retirement age of 63 and was accused of creating a toxic workplace, though an investigation cleared him of wrongdoing.

    Meanwhile, CAF’s Appeals Board has declared Morocco the winner of AFCON 2025 after Senegal staged a walkout during the final. Applying Articles 82 and 84 of the regulations, CAF ruled Senegal forfeited the match, recording a 3–0 victory for Morocco. Several fines against Morocco were reduced, but disciplinary sanctions were upheld in part.

    Senegal has rejected the ruling, calling it unfair and unprecedented. In a statement on March 17, the Senegalese Football Federation announced plans to appeal to the Court of Arbitration for Sport (CAS) in Lausanne, pledging to defend its rights and the integrity of Senegalese football.

  • CAF launches sweeping reforms to restore trust after AFCON 2025 controversy

    CAF launches sweeping reforms to restore trust after AFCON 2025 controversy

    SPORTS, 30 March 2026 (NPA) — The Confédération Africaine de Football (CAF) has announced far‑reaching reforms to its Statutes and Regulations aimed at strengthening trust in referees, VAR operators, and judicial bodies. The measures are designed to prevent a repeat of the incidents that marred the Final Match of the TotalEnergies CAF Africa Cup of Nations (AFCON) Morocco 2025.

    CAF noted that referees and VAR operators at AFCON Côte d’Ivoire 2023 earned widespread praise, and the new reforms seek to restore that level of credibility. The organisation reaffirmed its commitment to appointing Africa’s most respected judges and lawyers to the CAF Disciplinary Board and Appeal Board, ensuring independence and impartiality.

    CAF President Dr Patrice Motsepe said the reforms are backed by legal advice from African and international football experts to align with global best practices. “These changes will strengthen confidence in referees, VAR operators, match commissioners, and judicial bodies. They will also ensure that the unacceptable incidents at AFCON Morocco 2025 do not happen again,” he stated.

    Motsepe added that CAF is working with FIFA to provide ongoing training for referees, VAR operators, and match commissioners, while also pushing for their professionalisation and fair remuneration. He highlighted CAF’s progress in governance, ethics, transparency, and managerial best practices, stressing its zero‑tolerance stance on corruption and improper behaviour.

    “Our commitment to fairness and equal treatment of all Member Associations is non‑negotiable,” Motsepe said. “No association will be favoured above another. CAF will continue to review and improve governance standards to strengthen the global competitiveness of African football.”

    The matters relating to the AFCON 2025 final are currently before the Court of Arbitration for Sport (CAS). Meanwhile, CAF’s focus has shifted to the Confederation Cup, Champions League, and preparations for African nations competing in the FIFA World Cup 2026 in the United States. Motsepe expressed confidence that Africa’s representatives will make the continent proud.

  • Global migration crisis: 22 migrants die off Greek coast 

    Global migration crisis: 22 migrants die off Greek coast 

    INTERNATIONAL, 29 March 2026 (NPA) — At least 22 migrants have died this week off the Greek coast after spending six harrowing days adrift in a dinghy bound for Europe. A total of 26 survivors, including a woman and a child, were rescued on Friday by a European border agency vessel and taken to a hospital in Heraklion, Crete.

    Reports indicate the boat departed Tobruk in eastern Libya on 21 March, but poor weather, combined with a lack of food and water, contributed to the deaths, according to the Greek coastguard.

    This tragedy comes against the backdrop of alarming global statistics. In 2025, the International Organization for Migration (IOM) recorded 7,667 migrant deaths or disappearances worldwide, with Africa’s sea routes among the deadliest. The Mediterranean crossing alone claimed 2,108 lives, while another 1,047 migrants perished attempting to reach Spain’s Canary Islands.

    The report noted that an average of 21 migrants died every day in 2025, though experts believe the true toll is higher due to unrecorded cases. Human rights groups argue that restrictive border policies push migrants onto more hazardous routes, increasing fatalities.

    The 2025 figures reveal a devastating toll of nearly 8,000 deaths worldwide, with African sea crossings disproportionately lethal. The Mediterranean and Canary Islands routes alone accounted for more than 3,100 lives lost, underscoring the urgent need for safer migration pathways, stronger rescue operations, and international cooperation to address the crisis.