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issue 633 | 15 Mar 2026

World

IEA member countries to carry out largest ever oil stock release amid market disruptions from Middle East conflict

The 32 member countries of the International Energy Agency (IEA) unanimously agreed to make 400 million barrels of oil from their emergency reserves available to the market to address disruptions in oil markets stemming from the war in the Middle East. The decision to take emergency collective action was made following an extraordinary meeting of IEA member governments recently, convened by the IEA executive director to assess market conditions amid the conflict in the Middle East and consider the options to address supply disruptions. “The oil market challenges we are facing are unprecedented in scale, therefore I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size,” said IEA Executive Director Fatih Birol. “Oil markets are global so the response to major disruptions needs to be global too. Energy security is the founding mandate of the IEA, and I am pleased that IEA members are showing strong solidarity in taking decisive action together.” The emergency stocks will be made available to the market over a timeframe that is appropriate to the national circumstances of each member country and will be supplemented by additional emergency measures by some countries.

Source: IEA

Africa

Middle East tensions put Africa’s oil and gas back on the global radar

The ongoing conflict involving Iran, the United States and Israel has sent shockwaves through global energy markets. Attacks on oil infrastructure and partial closures of the Strait of Hormuz – a chokepoint historically carrying roughly 20% of global oil flows – have pushed crude briefly above USD115 per barrel and injected fresh volatility into global markets. For African producers, this creates a structural advantage. West and North African exports are largely insulated from the conflict, meaning barrels from Nigeria, Angola, Gabon, Algeria and Libya are viewed as lower-risk alternatives. Buyers in Europe, China and India increasingly value this “risk‑discounted” supply: lower insurance premiums, reliable logistics and fewer geopolitical interruptions make African crude and liquefied natural gas attractive relative to Gulf benchmarks. Historically, similar dynamics have played out during sanctions cycles or conflicts in the Middle East. European refiners pivoted toward West African grades such as Nigeria’s Bonny Light and Angola’s Girassol when Iranian and other Gulf barrels faced restrictions or elevated premiums. North African producers, including Algeria and Libya, also benefit from proximity to Mediterranean markets, offering complementary grades for refiners seeking diversity and stability.

Source: Energy Capital & Power

East Africa

Why strengthening East African regional integration matters in a turbulent global economy

In an increasingly uncertain global economy marked by geopolitical rivalry, fragile supply chains, climate shocks and shifting trade alliances, regional integration is no longer simply an aspirational development agenda; it has become a strategic necessity, writes Jane Nalunga. For East Africa, the East African Community (EAC) represents one of the most important policy instruments for economic resilience, competitiveness, collective bargaining power and sustainable development. Deliberations at the recent EAC Heads of State Summit once again brought this reality into focus. The Summit reaffirmed the bloc’s commitment to deepening integration, strengthening institutions and expanding the Community’s economic potential. At the same time, it highlighted a fundamental challenge: how to sustain and finance deeper regional integration at a moment when the Community itself is expanding both geographically and institutionally. Over the past two decades, the EAC has made measurable progress. The establishment of the Customs Union in 2005 and the Common Market in 2010 laid the foundation for deeper economic cooperation among partner states. Intra-regional trade has grown steadily, currently estimated at approximately USD4–5-billion annually. With a population exceeding 300 million people and a combined GDP of more than USD300-billion, the EAC now represents one of Africa’s most dynamic regional markets.

Source: AfricaBrief

Southern Africa

SADC bridge eases cargo movement

The construction of the USD259-million Kazungula Bridge across the Zambezi River has increased the daily number of cargo trucks crossing between Botswana and Zambia. The bridge serves as a vital infrastructure component in the North-South Corridor, a crucial trade route from the Democratic Republic of the Congo, through Zambia and Zimbabwe, to the port of Durban in South Africa. Before the bridge was built, crossing the river was done on a slow, low-capacity ferry that often led to delays of several days because of the limited capacity. This process now takes a matter of hours, increasing the number of haulage trucks crossing the river daily and highlighting its economic significance in the region. Japanese Ambassador to Namibia Shinichi Asazuma visited the 923-metre road-and-rail bridge at the only quadripoint in the world where four countries – Botswana, Namibia, Zambia and Zimbabwe – meet. “This bridge, designed to improve the efficiency of transit traffic through the Kazungula border, was commissioned in 2021, and was constructed with Japanese support. The project was advanced under a co-financing arrangement led by the Japanese International Cooperation Agency (JICA), the African Development Bank and other partners. “JICA established border management facilities, simplified customs procedures, significantly reduced border crossing times and eliminated logistics bottlenecks,” Asazuma said, highlighting Japan’s contribution to the economic development of the four countries as well as the Southern African Development Community (SADC).

Source: The Namibian

Angola

Angola lands USD165-million rare earth deal as Africa targets China’s magnet dominance

Mining company Pensana has secured a USD165-million strategic investment from rare earth mining investment platform Cascade Natural Resources to fast-track its Longonjo rare earth project in Angola. The funding provides the critical equity needed to unlock a further USD160-million debt package backed by the Export-Import Bank of the United States, helping keep the mine on track for its 2027 production target. Angola is spearheading a new form of mineral diplomacy, leveraging the Lobito Corridor to reduce reliance on Chinese rare earth processing. As prices for magnet metals rise and supply chains become more strategic, African countries are increasingly positioning themselves as suppliers to Western high-tech industries. But whether this emerging African “magnet shield” can withstand a price war with Beijing remains an open question. Rising neodymium-praseodymium prices have strengthened the commercial case for non-Chinese supply. While the traditional model relied on exporting raw ore for overseas processing, Pensana is pursuing an integrated approach designed to supply Western defense and advanced manufacturing supply chains, including a proposed offtake agreement with Toyota Group trading arm Toyota Tsusho.

Source: Energy Capital & Power

Botswana

Government kickstarts copper refinery study at Khoemacau

Government has initiated steps toward downstream copper beneficiation after announcing that a feasibility study will be undertaken to assess the viability of establishing a copper refinery anchored around the Khoemacau Copper Mine. The proposed study will be conducted by MMG Khoemacau in partnership with government and other stakeholders as Botswana seeks to move further along the mineral value chain and reduce reliance on the export of raw mineral concentrates. Addressing Parliament recently, Minister of Minerals and Energy Bogolo Kenewendo revealed that discussions were underway to examine the technical and commercial feasibility of establishing a copper refining facility in the country.

Source: Mmegi

Burkina Faso

Burkina Faso unveils USD64-billion five-year roadmap to transform economy

Burkina Faso has adopted a new National Development Plan 2026–2030, a USD64-billion, five-year roadmap aimed at reshaping the economy, strengthening stability, and promoting inclusive growth. The plan represents a sharp increase from the previous framework, with an average annual budget of about F.CFA7 238.1-billion, reflecting the country’s renewed focus on economic transformation. Investment spending, including capital transfers, accounts for 34.5% of the total budget, while additional financing needs are projected at 30.3% of the plan’s cost. The strategy is structured around four priorities: enhancing security and social cohesion, reforming the state and governance, developing human capital, and expanding infrastructure to support long-term economic growth. Burkina Faso plans to modernise public policy implementation through programme-based budgeting, stronger state coordination, wider domestic resource mobilisation, and community involvement in development projects. Officials describe the approach as promoting “inclusive and homegrown socioeconomic development rooted in patriotic commitment and national sovereignty.” The government will also explore innovative financing tools such as citizen shareholding programmes and revenues from state assets.

Source: Business Insider Africa

Central African Republic

Maser secures USD50-million gold assets as CAR pursues international investors

The United Arab Emirates-based consumer electronics firm Maser Group has secured allotment letters for gold mining assets in the Central African Republic (CAR) following discussions with the country’s Ministry of Mines and Geology. The letters, valued at USD50-million, mark Maser Group’s entry into one of Africa’s emerging gold investment destinations, reflecting the government’s strategy to attract international industrial partners to develop the sector. During the meeting, Prateek Suri, Chairman, Maser Group, noted that modern mining investment must go beyond extraction to include environmental stewardship, local employment generation, and long-term value creation for host economies. For the CAR, the partnership highlights efforts to move beyond largely informal mining operations toward structured industrial projects capable of increasing government revenues and improving transparency across the sector. The deal also grants Maser access to one of Africa’s most exciting gold jurisdictions, strengthening supplies as the Group strives to develop sustainable mining operations in Africa.

Source: Energy Capital & Power

Democratic Republic of the Congo

DRC’s state gold project targets 15 tons of artisanal gold with central bank backing

The Democratic Republic of the Congo (DRC) is seeking to significantly increase the volume of gold sourced from its vast artisanal mining sector as part of a broader effort to formalise trade and strengthen national reserves. DRC Gold Trading, the country’s state-owned gold trading entity, plans to boost the amount of artisanal gold it sells to 15 metric tons this year, with the country’s central bank expected to play a key role as a buyer. The initiative reflects Kinshasa’s growing push to channel gold from informal mining networks into official markets. The company was established in December 2022 as a joint venture with the United Arab Emirates to bring more transparency to Congo’s gold sector, which has long been dominated by smuggling and informal trade. In the past three years, the venture has acquired only about 10 tons of gold for trading, highlighting the scale of the challenge the government faces in formalising the sector. According to DRC Gold Trading CEO Joseph Kazibaziba, the company signed an agreement with the country’s central bank in February granting it priority access to the gold the firm collects Reuters reports. The metal would help build Congo’s national reserves, with pricing expected to follow international benchmarks and national regulations.

Source: Business Insider Africa

Gabon

IMF staff concludes visit to Gabon

An International Monetary Fund (IMF) staff team led by Ms Aliona Cebotari visited Libreville from 25 February to 6 March 2026, to conduct technical discussions with the authorities on recent economic and policy developments. At the conclusion of the visit, Ms Cebotari issued the following statement, in part: “The IMF staff team engaged the authorities on recent macroeconomic and policy developments, as well as the implementation of the national growth and development plan. Discussions highlighted the potential benefits of ongoing reforms to improve public financial management, governance, the business climate and to fight corruption, and underscored the criticality of ensuring prudent fiscal and financial policies to safeguard macroeconomic stability in Gabon and the region. Policy dialogue with the authorities will continue in the weeks ahead, including during the upcoming IMF Spring Meetings. The team thanks the authorities and other stakeholders for their hospitality and candid engagement during the visit.”

Source: IMF

Mauritania

ITFC and Mauritania sign USD1-billion framework agreement to strengthen trade and economic development

The International Islamic Trade Finance Corporation (ITFC) signed a USD1.0-billion Five-Year Framework Agreement with Mauritania covering the 2026–2030 period to strengthen cooperation and support the country’s economic development priorities through strategic trade finance and capacity-building initiatives. The signing took place during the official visit of Dr Abdallah O. Souleymane O. Cheikh-Sidia, Minister of Economic Affairs and Development and Islamic Development Bank (IsDB) Governor, to the IsDB Group headquarters in Jeddah. The agreement was signed at ITFC headquarters by Dr Abdallah O. Souleymane O. Cheikh-Sidia and Eng Adeeb Yousuf Al Aama, CEO of ITFC, in the presence of Mohamed Lemine Dhehby, Governor of the Central Bank of Mauritania and IsDB Alternate Governor for Mauritania, as well as representatives from ITFC and members of the Mauritanian delegation. The Framework Agreement reflects the strong partnership between ITFC and Mauritania establishing a strategic framework to support the country’s socio-economic development and expand its trade capacity over the next five years. Under the agreement, ITFC will mobilise financing and technical support for priority sectors of the Mauritanian economy, particularly energy, banking, and private sector development.

Source: ITFC

Namibia / South Africa

Namibia and South Africa modernise central bank pact

The Bank of Namibia (BoN) and the South African Reserve Bank (SARB) have signed a revised memorandum of understanding (MoU) to safeguard regional financial stability against increasingly complex global threats. The Governor of the BoN, Ebson Uanguta, and the Governor of the SARB, Mr Lesetja Kganyago, signed the revised MoU in Pretoria, South Africa. The signing took place during Uanguta’s courtesy visit to the SARB and marks an important milestone in further strengthening institutional cooperation between the two sister central banks. The revised MoU updates and supersedes the previous agreement concluded on 11 September 2015. It reflects the evolving financial sector landscape in both jurisdictions, including strengthened supervisory mandates, enhanced resolution frameworks, and the increasing complexity of cross-border financial institutions operating within Namibia and South Africa. The agreement recognises the interlinkages between Namibia and South Africa’s financial markets and economies. The MoU provides a formal framework for cooperation in the business of central banking, supervision, regulation, and resolution planning of financial institutions and groups with cross-border operations.

Source: Namibia Economist

Nigeria

Dangote warns import-dependent countries of rising fuel pressure as tanker costs hit USD3.5-million per shipment

Global fuel markets have been thrown into turmoil since the escalation of conflict in the Middle East, triggering sharp oil price swings and surging shipping costs. Against this backdrop, the Managing Director and CEO of Dangote Petroleum Refinery, David Bird, says countries that rely heavily on imported fuel are likely to face the biggest strain. Speaking during a media briefing, Bird said freight costs for fuel shipments have surged dramatically amid the current market disruption, with tanker costs rising from about USD800 000 per cargo to roughly USD3.5-million per shipment. The refinery’s comments come as petrol prices in Nigeria continue to surge amid global oil market volatility. Dangote Petroleum Refinery has raised its ex-depot (gantry) price multiple times in recent days, from NGN774 to NGN874, then to NGN995, and most recently to NGN1 175 per litre. The rapid adjustments reflect escalating costs from rising crude prices, surging tanker freight charges, and broader supply disruptions linked to the ongoing Middle East tensions. The spike reflects broader instability across global oil markets, where crude prices have swung wildly in recent days.

Source: Business Insider Africa

Nigeria

Nigeria signs Intra-African Trade Fair 2027 host agreement; gears up for Africa’s biggest marketplace

Nigeria has signed the host agreement for the fifth Intra-African Trade Fair 2027 (IATF2027), taking over the baton from Algeria which hosted the highly successful fourth edition that recorded USD49.94-billion in trade and investment deals. The agreement signing ceremony was held in Lagos, the designated ‘host city’, in partnership with African Export-Import Bank (Afreximbank), the African Union Commission and the African Continental Free Trade Area (AfCFTA) Secretariat, reinforcing Nigeria’s central role in advancing intra-African trade and economic integration across the continent. Scheduled to take place from 5 – 11 November 2027, IATF2027 is targeting over USD50-billion in trade and investment deals, 100 000 visitors, 2 500 exhibitors, and participation from more than 100 countries. The Fair will be held under the theme Global Africa, Smart Trade – From Market Access to Market Power, featuring a diverse programme.

Source: Afreximbank

Senegal

Senegal says vaccination certificate no longer mandatory for entry

Senegal has announced that the presentation of an international vaccination certificate is no longer mandatory for travellers entering the country. In a communique issued recently, the Senegalese Ministry of African Integration and Foreign Affairs said that for travellers arriving from countries not affected by epidemic or endemic outbreaks, vaccination against yellow fever, DPT, measles, and hepatitis A and B is only recommended for health protection purposes. The ministry added that travellers are no longer required to present a vaccination certificate upon entry into Senegal. The update concerns the international vaccination certificate requirements for entry into the country, according to the communique.

Source: Xinhua

Seychelles

Seychelles partner with AfCFTA to develop digital trade bub

The African Continental Free Trade Area (AfCFTA) Secretariat formalised a memorandum of understanding on 5 March with Quest Ghana Limited and the Government of Seychelles. The partners designed the agreement to transform the Indian Ocean archipelago into a competitive hub for digital trade and cross-border commerce across Africa. The initiative focuses on integrating Seychellois businesses into Africa’s digital value chains. Stakeholders said the project aims to enable local operators to participate more actively in dematerialised trade flows. The programme will rely on trade facilitation mechanisms established under the AfCFTA. Consequently, authorities expect the initiative to expand the role of Seychelles-based companies in the continent’s growing digital marketplace. The partnership plans to introduce a technical framework that will secure cross-border digital transactions. The agreement emphasises system interoperability, which partners consider essential for simplifying payments and commercial exchanges between companies operating under different jurisdictions. This technical alignment aims to reduce friction in cross-border digital trade and accelerate regional integration.

Source: We are tech.Africa

Somalia

Somalia president signs new Constitution into law

President Hassan Sheikh Mohamud of Somalia has signed the country's new Constitution into law to help create a legal framework to strengthen governance and enhance political stability. The revised document, which ends years of provisional governance, is the most important pillar for reinforcing national unity and institutionalising a governance system, said President Mohamud, who signed the new charter recently in Mogadishu, the capital. “Today concludes the extensive process of revising Somalia's Federal Constitution, which has been provisional for some time and recently ratified by the Federal Parliament,” he said, according to a statement issued by the Presidency. Somalia's Parliament approved the long-awaited new Constitution on 4 March, ending a process that spanned more than 13 years. Under the new Constitution, the president will be elected by Parliament, while members of Parliament are chosen directly by citizens, and the prime minister will be appointed by the president but can be dismissed by Parliament. The new Constitution extends presidential terms to five years from four, but sets stricter eligibility rules for candidates.

Source: Xinhua

Tanzania

Strong mineral potential puts Tanzania fourth in Africa’s investment ranking

Tanzania has strengthened its position as an attractive destination for mining investment after ranking 34th out of 68 jurisdictions worldwide in the Fraser Institute’s Annual Survey of Mining Companies 2025. The improvement is driven largely by its strong mineral potential and gradual improvements in the policy environment. The survey, which is widely used by global investors to assess mining destinations, also places Tanzania fourth in Africa, behind Botswana, Morocco and Zambia on the Investment Attractiveness Index, a ranking influenced by both geological prospects and the regulatory framework governing the sector. According to the report released recently, Tanzania’s overall score rose to 68.04 in 2025, up from 62.75 in 2024 and 46.38 in 2023, reflecting growing investor confidence supported by rich mineral resources, expanding exploration activity and ongoing policy reforms. The Fraser Institute index combines two key measures: the Best Practices Mineral Potential Index, which evaluates the quality and availability of mineral resources, and the Policy Perception Index, which captures investor views on regulations, taxation, licensing systems and overall stability of the investment climate.

Source: The citizen

Togo

Togo approves bill updating environmental law and introducing carbon tax

Togo’s National Assembly has approved at first reading a bill amending the 30 May 2008 framework environmental law. Lawmakers passed the text on Thursday, 5 March 2026, during the third plenary sitting of the year’s first extraordinary session. The government-backed reform aims to update the country’s legislative framework in response to growing environmental challenges. The move comes as Togo faces the effects of climate change, coastal erosion, pressure on forest resources and soil degradation. According to Aklesso Atcholé, President of the Union for the Republic Parliamentary group, the initiative seeks to address evolving environmental issues and align national legislation with the country’s international commitments. The bill introduces several new policy tools, including the concepts of the green economy, circular economy and green mobility, as well as a carbon tax. “The text establishes new paradigms and reinforces the need to better protect the environment and prepare for climate challenges,” Environment Minister Dodzi Kokoroko told lawmakers. “It introduces new economic models such as the green economy, green mobility and the circular economy. It also provides a mechanism to mobilise climate finance through the creation of a carbon tax and the operationalisation of the National Environment Fund,” he added.

Source: Togo First

Zambia

IMF staff concludes visit to Zambia

An International Monetary Fund (IMF) staff team, led by Edward Gemayel, visited Zambia from 26 February to 4 March 2026, as part of the Fund’s regular engagement with the Zambian authorities and other stakeholders. At the conclusion of the visit, Mr Gemayel issued the following statement, in part: “The IMF team held constructive discussions with the Zambian authorities on recent macroeconomic developments, the evolving outlook, and policy priorities for the period ahead. Zambia has made substantial progress in restoring macroeconomic stability under the recently completed IMF-supported programme. Public external debt has been largely restructured, international reserves have strengthened, growth has picked up, and inflation has continued to decline – recently reaching the Bank of Zambia’s target band. These outcomes reflect sustained reform efforts and have helped reinforce Zambia’s credibility with creditors and market participants. The economic outlook remains positive, although downside risks have increased amid domestic challenges and heightened global uncertainty. Growth for 2025 has been revised downward to 4.5%, reflecting weaker-than-expected performance in the mining sector, softer wholesale trade, and continued energy-related constraints on non-mining activities. The moderation in growth projected for 2026, at 5.5%, reflects a normalisation of agricultural output following last year’s bumper harvest.”

Source: IMF