Africa’s largest oil refinery hits a global milestone

Dear readers,

Today, the spotlight is on energy, and Africa is clearly turning the dial all the way up.

The Dangote Refinery recently announced that it is now operating at its full 650,000 barrels per day capacity, reinforcing Nigeria’s push to end fuel import dependence and reshape its role in global refining.

Nigeria's energy push is not only evident at home but also extending to the North African region.

Significant advancement is being made on the Nigeria–Morocco Gas Pipeline and the expansion of the West African Gas Pipeline, as policymakers advocate for harmonized regulations and joint investment platforms to ensure Africa's energy security.

Flying high on the success front, Ethiopian Airlines posted $4.4 billion in six-month revenue, transporting over 10 million passengers, a strong signal that trade and business travel are soaring despite operational and geopolitical headwinds.

But the action seen in the East African region isn’t just confined to the skies: Kenya is weighing greater gold diversification as prices surge.

And notably, Russia is redirecting expelled European diplomats to the continent, signaling deeper geopolitical and commercial engagement.

Together, these shifts reflect a continent recalibrating power, capital, and connectivity in real time.

Ethiopian Airlines posted $4.4 billion in revenue for the first half of its 2025/2026 fiscal year, up 14% year-on-year and above projections, despite aircraft shortages, geopolitical tensions, security challenges, and tighter U.S. visa rules that affected some routes.

The carrier transported 10.64 million passengers and 451,000 tonnes of cargo, expanding its network to 145 international destinations in the period under review.

🇳🇬 Africa’s largest oil refinery hits a global milestone as it now operates as originally intended

The Dangote Refinery recently announced that it is now the first single-train refinery of its scale to be running at its full 650,000 barrels per day capacity, after optimizing its core processing units.

With plans to expand to 700,000 bpd, and longer-term ambitions of reaching 1.4 million bpd, Dangote is positioning the refinery not just to end Nigeria’s fuel import dependence, but to potentially redefine its standing in global refining

🇲🇦 Nigeria–Morocco pipeline project powers new vision for Africa’s energy unity

Africa is doubling down on cross-border gas infrastructure as a cornerstone of energy security and regional integration, with the Nigeria–Morocco Gas Pipeline and the expansion of the West African Gas Pipeline emerging as flagship projects.

Speaking at International Energy Week 2026 in London, NNPC Group CEO Bashir Ojulari called for harmonised pricing systems, aligned regulations, and joint investment platforms among African nations to reduce friction and attract capital at scale.

🇰🇪 Kenya weighs gold diversification alongside other African countries as prices hit new highs

Surging global gold prices are prompting African central banks to rethink how they manage reserves. While Ghana recently cut its gold holdings by 51% to rebalance its reserve mix, Kenya is considering increasing its gold purchases as a way to diversify and strengthen its foreign exchange buffers.

Kenya’s central bank says gold could serve as an added buffer alongside its $12.46 billion in reserves (about 5.4 months of import cover), even as it recently trimmed its benchmark interest rate to spur lending

Over the past two decades, Chinese financing has been instrumental in the development of Africa's infrastructure. While certain African nations have relied heavily on these loans, others have largely refrained from them, boasting some of the lowest debts to one of Africa’s largest creditors.

🌍 Following massive diplomatic expulsions from Europe, Russia redirects its envoys to Africa

Russia is ramping up its diplomatic push into Africa, redeploying envoys expelled from Europe following the Ukraine invasion to new postings across the continent. Foreign Minister Sergei Lavrov says about 90% of the 120–150 staff cut from Europe have been reassigned to Africa.

The pivot positions Africa at the center of Russia’s geopolitical reset. From security partnerships in Niger, Mali, and Burkina Faso to deeper cooperation in energy and infrastructure, Moscow is using the continent to rebuild influence as relations with the West remain strained

🚗 Ford CEO says 'the customer has spoken' after its EV business lost nearly $5 billion last year

Ford’s electric vehicle unit lost $4.8 billion in 2025 as sales of the Mustang Mach-E and F-150 Lightning fell 14%, prompting CEO Jim Farley to admit “the customer has spoken.”

After betting big on electrifying its most iconic models, Ford is now pivoting, ending production of the all-electric Lightning (for now) and shifting focus toward hybrids and extended-range electric vehicles (EREVs), where demand has proven stronger.

Did you know that Egypt, known for its awe-inspiring pyramids, does not have the most pyramids on the continent? That distinction goes to Sudan.