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African Energy Chamber (AEC) Backs East Africa Court Ruling, Warns of Escalating Foreign Funded “Lawfare” Against African Energy Progress
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East Africa has entered a decisive moment in its energy journey. With the East African Court of Justice (EACJ) dismissing a long-running lawsuit aimed at stopping the East African Crude Oil Pipeline (EACOP), the region has reaffirmed its commitment to advancing a strategically vital project designed to unlock jobs, supply chains and long-term energy security for Uganda and Tanzania.
The African Energy Chamber (AEC) strongly welcomes the ruling. For the Chamber, the court's decision reinforces a message it has championed for years: Africa must be allowed to build its own energy future without interference, intimidation or weaponized litigation funded from abroad. The judgement is not only a welcome affirmation of the rule of law in the region, but also a clear signal that Africa will not allow externally driven obstructionism to derail its development. After the five years of litigation, the EACJ upheld its earlier finding that the lawsuit brought by a consortium of civil society organizations had been filed outside the treaty's 60-day limitation period. With this ruling, the region's highest court has sent a strong message: legal processes must be respected, timelines matter and projects central to East Africa's industrialization cannot be held hostage indefinitely by procedural maneuvering.
The Chamber views the decision as a win for Uganda, Tanzania, TotalEnergies, CNOOC and every local community that stands to benefit from the jobs, investment and infrastructure linked to EACOP. The Chamber has been on the ground in Uganda, touring the so-called affected areas that activists frequently reference in campaigns abroad. What the Chamber witnessed firsthand contradicts many of the narratives being amplified in Western media. Communities are not calling for projects to be shut down; they are asking for progress, opportunity and the chance to benefit from their own natural resources. EACOP represents exactly that – a strategic pipeline that will deliver 210,000 barrels per day of Ugandan crude to the port of Tanga, unlocking value chains that can transform both economies.
“Ugandans support this project. They want jobs, investment and the opportunity to participate in an industrial future,” says NJ Ayuk, Executive Chairman, AEC. “This ruling reinforces what we have always maintained: development cannot be outsourced, delayed or derailed by external groups using African courts for ideological battles.”
The court's ruling arrives at a time when foreign funded “lawfare” is escalating across the continent. The same pattern witnessed in East Africa is already well documented in South Africa, where lawsuits filed by non-governmental organizations backed by Western foundations have successfully delayed offshore projects by TotalEnergies and Shell. The Western Cape High Court's 2025 decision to rescind the environmental authorization for Block 5/6/7, after years of litigation, is now a textbook example of how continuous legal challenges can paralyze investment. Shell's long-running Wild Coast case follows the same formula – repetitive appeals, procedural hurdles and campaigns designed to generate uncertainty rather than ensure compliance. These actions, while framed as community advocacy, are increasingly viewed by African stakeholders as systematic efforts to block African energy development while Europe and North America expand their own fossil fuel infrastructure.
Mozambique is facing similar obstacles. Litigation targeting financing for the Mozambique LNG project has escalated to multiple jurisdictions, with lawsuits filed in the United States to block a multibillion-dollar loan from the U.S. Exim Bank and criminal complaints in France alleging war-crimes complicity. While legitimate human rights oversight is necessary, the cumulative effect of these lawsuits is the prolonged stalling of Africa's largest LNG development – a project critical for regional electrification and long-term economic growth. Each delay reinforces the AEC's argument that Africa is being held to a double standard, expected to meet development needs without the very energy systems that powered the industrial growth of the West.
Against this backdrop, the EACJ ruling stands out as a reaffirmation that African institutions are capable, credible and committed to ensuring that transformative projects proceed within the bounds of law and due process. The Chamber commends Uganda and Tanzania for their steadfast leadership and congratulates TotalEnergies and CNOOC for maintaining discipline and long-term vision while navigating intense pressure from activist networks. The AEC maintains that EACOP is one of Africa's most important infrastructure projects – a pipeline that will enable value creation, export growth, expanded local content and revenue streams for decades to come.
“This ruling is a statement of confidence in African sovereignty and a rejection of efforts to dictate Africa's energy future from abroad. As the continent continues to grapple with deep energy poverty, it cannot afford to allow its development to be stalled by foreign funded litigation that offers no viable alternative for industrialization or economic upliftment. The AEC will continue supporting Uganda, Tanzania, TotalEnergies and all partners developing EACOP. The project is lawful, strategic and essential for East Africa's long-term prosperity,” concludes Ayuk.
Distributed by APO Group on behalf of African Energy Chamber.Komo Ressources Group (KOREG) Makes History as First Gabonese Private Operator to Deliver First Oil at Autour Field
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Gabon has entered a new chapter in its energy evolution. For the first time ever, a private national oil company has opened a new field and delivered first oil. Komo Ressources Group (KOREG), a rising indigenous operator, has officially brought the Autour field onstream, producing its first barrels on November 27, 2025. The milestone marks a defining moment for Gabon's upstream sector, showcasing the strength of empowered local companies and reinforcing the country's commitment to revitalizing onshore production.
The African Energy Chamber (AEC) strongly welcomes this achievement. KOREG's success demonstrates what becomes possible when national companies are supported, trusted and encouraged to lead. It affirms the Chamber's long-standing message that African operators, when given the room to perform, can drive real production growth, deliver real value and anchor long-term energy security.
KOREG's road to first oil has been a story of determination, technical discipline and strategic execution. After signing an exploration and production sharing agreement with the Ministry of Petroleum in April 2024, the company moved swiftly to transform Autour into a producing asset. A development contract was awarded to international service provider China Oil HBP Group in July 2024, marking the official start of commercial exploitation. From there, KOREG delivered a fully new central processing facility (CPF), drilled two wells and advanced the project through the final stages of commissioning. Less than two years after the exploration and production sharing agreement signing, the company turned Autour into a producing field – a remarkable accomplishment for a first-time national operator.
This progress reflects a sector operating with clear policy direction and active government support. Under President Brice Oligui Nguema and Minister of Oil and Gas Sosthène Nguema Nguema, Gabon has implemented a pro-development agenda that prioritizes new investment, fresh exploration activity and stronger local participation. The government's ongoing reforms – from updating petroleum laws to introducing a dual legal framework and modernizing labor standards – are establishing a more competitive, more accountable and more investor-friendly upstream environment. KOREG's success is an early example of what these reforms are designed to unlock.
For the AEC, first oil at Autour is a powerful signal. It shows that Gabon's upstream future is not limited to the contributions of long-established international operators, strong as they remain, but will increasingly be shaped by domestic players stepping forward with capability and ambition. KOREG has proven that Gabonese companies can deliver the technical work, manage complex timelines and bring new barrels to market, even in a competitive global landscape. This is precisely the kind of indigenous leadership the Chamber has consistently advocated for across Africa.
“First oil from the Autour field is not just a win for KOREG; it is a win for Gabon,” states NJ Ayuk, Executive Chairman, AEC. “This achievement shows that when national companies are empowered, they rise to the challenge. KOREG's performance is a strong sign that Gabon's upstream future will be increasingly defined by the success of its own people, its own engineers and its own operators.”
With first oil now flowing, KOREG has positioned itself as a catalyst for Gabon's upstream renewal, demonstrating how local capability, clear regulation and investor confidence can work together to deliver new production. As Gabon pushes to unlock deepwater prospects, revitalize mature assets and expand onshore development, the Chamber expects more national companies to follow KOREG's lead. For now, Autour stands as a historic milestone – a field opened by a private Gabonese operator, developed at speed, executed with modern local capacity and now delivering new barrels for the country. The AEC congratulates KOREG on this landmark achievement and reaffirms its support for Gabon's drive to grow production, deepen local participation and build a resilient, competitive and proudly African energy sector.
Distributed by APO Group on behalf of African Energy Chamber.Central African Republic: Concerns Over Crucial Election
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Concerns about irregularities, political interference, and security pressures risk putting the credibility and inclusiveness of key elections in the Central African Republic into question, Human Rights Watch said today. The vote, scheduled for December 28, 2025, will include presidential and parliamentary elections, but also municipal elections for the first time in decades.
“The Central African Republic election will shape the country's political trajectory for years to come,” said Lewis Mudge, Central Africa director at Human Rights Watch. “Despite tangible progress to establish peace, obstructions to opposition participation, administrative dysfunction, and concerns about a return to repression could disenfranchise large segments of the population.
The elections come after the highly controversial 2023 constitutional referendum, which removed presidential term limits and effectively opened the door for President Faustin-Archange Touadéra to remain in power indefinitely. The official campaign period is slated to start on December 13.
Two of the country's most prominent political figures, former prime ministers Anicet Georges Dologuélé and Henri-Marie Dondra, were barred from entering the race until November 14, when the Constitutional Council decided to allow them to run as candidates for president. This aligned with an apparent pattern of administrative maneuvering that has disproportionately impeded opposition politicians while favoring the ruling United Hearts Party (known by its French acronym, MCU), Human Rights Watch said.
The two politicians are widely viewed as the only credible challengers to Touadéra. “We have effectively been delayed while the MCU has been mobilizing,” Dologuélé told Human Rights Watch. Their late admission to the race raises questions about whether voters have been given a genuine choice, Human Rights Watch said.
These developments come amid growing doubts about whether the National Election Authority is prepared to run the election. Supply-chain failures, incomplete voter lists, and insufficiently trained staff for polling places, particularly outside Bangui, the capital, are potential problems.
In Bangui, civil society activists have raised concerns over whether many of the estimated 6,700 polling places will be able to open on time, if at all. Rural voters, already hampered by insecurity and limited transportation, could find themselves effectively excluded. The lack of readiness not only undermines confidence in the process but also raises concerns that turnout figures may become deeply skewed toward the capital.
The government has sought to bolster confidence in elections by signing a series of peace accords with various armed groups. These accords, which skirt around accountability for human rights abuses and potential war crimes committed in the past, have nonetheless created conditions for stability not seen in years. However, several civil society activists, journalists, UN officials, and diplomats question the durability of these peace deals including an agreement signed on November 19 with the Patriotic Movement for the Central African Republic.
Over the past decade, numerous declarations of peace quickly fell apart amid unmet promises of disarmament, political inclusion, or resource sharing. One journalist told Human Rights Watch that, “Armed groups have been bought off to ensure the elections occur. Disarmament has become a racket…. [W]e will most likely see these groups resume attacks once the money runs out … [until] the next round of elections.”
Without genuine disarmament efforts, the current agreements will serve more as symbolic gestures reinforcing impunity than as mechanisms for lasting stability, Human Rights Watch said.
The unequal political environment has prompted many opposition parties to call for a full boycott of the elections. Leaders of Republican Bloc for the Defense of the Constitution, an opposition coalition, told Human Rights Watch that they are concerned about the obstruction of candidates, the election authority's administrative deficiencies, and the government monopoly over media and state resources.
This boycott, and the delays experienced by Dologuélé and Dondra, will most likely pave the way for a parliament dominated by the current governing party. A legislature without meaningful opposition oversight risks compromising already weak institutions, Human Rights Watch said. “We need checks on the executive,” one politician told Human Rights Watch. “My fear is that these elections, already skewed, are a test of the principles of democratic accountability.”
There are also concerns around online xenophobic rhetoric. Dologuélé had to give up his French nationality to run for the presidency as individuals in high offices are not allowed to hold citizenship of another country. Nonetheless, some groups associated with the governing party are circulating statements online about “who is a real Central African,” targeting the opposition. Online attacks against opponents of the 2023 constitutional referendum ramped up before that vote.
Dondra told Human Rights Watch that in addition to other constraints, two of his brothers were arrested, and one remains in custody without charge, allegedly for politically motivated reasons.
The elections comes amid a planned reduction of the UN Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA). The mission, which has a mandate to protect civilians and monitor human rights abuses, alongside supporting elections, is expected to scale down its presence partly due to the budget constraints across UN peacekeeping and a desire from some member states to see responsibility transferred to national authorities.
A diminished UN footprint could leave communities, particularly those in conflict-affected regions, exposed to militia coercion and retaliation if the peace accords do not hold. Some diplomats in Bangui told Human Rights Watch that the Economic and Monetary Community of Central Africa and the International Organization of the Francophonie, which may monitor elections, have not been confirmed one month before the vote and will most likely be unable to conduct any monitoring outside of Bangui.
Despite the concerns, civil society activists and journalists describe some improvements. “Things are better than they were a few years ago, the repression has let up,” one journalist told Human Rights Watch. “However, we must remain vigilant. Once it solidifies full control over the parliament and municipal offices, the MCU will control how we discuss government policy, security and development.” The authorities should ensure that journalists and activists can continue to do their work freely without fear of reprisals or repression, Human Rights Watch said.
One month out, the government should remove all barriers to opposition participation and guarantee equal access to campaigning and to the media. The authorities should release individuals detained without credible legal basis, including Dondra's brother. International partners should monitor the elections for conformity to international standards, and reductions in peacekeeping forces should be reconsidered if armed groups attack civilians again.
“The Central African Republic stands at crossroads, and credible elections cannot occur when legitimate concerns are unaddressed,” Mudge said. “The country's path toward stability depends on inclusive and competitive political processes that reflect the will of all communities, not only those with access to power.”
Distributed by APO Group on behalf of Human Rights Watch (HRW).Economic Community of West African States (ECOWAS) Election Observation Mission observes peaceful, orderly and transparent election day in Bissau
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The ECOWAS Election Observation Mission (EOM), led by Ambassador Issufu Baba Braimah Kamara, observed a calm, orderly and transparent voting process during the opening and closing of polling stations observed in Bissau. The Mission deployed a high-level delegation across key locations to assess procedural compliance, operational readiness, the presence of party agents and the early participation of voters. Initial findings reflected confidence in the conduct of the polls and reaffirmed ECOWAS' sustained commitment to strengthening democratic governance and electoral integrity in Guinea-Bissau.
The observation process began with an internal coordination session with all observers, during which Ambassador Kamara underlined the regional mandate guiding ECOWAS observation work, emphasising impartiality, methodological precision and adherence to international standards. Senior officials presented included H.E. Dr. Abdel-Fatau Musah, Commissioner for Political Affairs, Peace and Security (PAPS); Ambassador Ngozi Ukaeje, ECOWAS Resident Representative; Ambassador Baba Jamal Mohammed Ahmed, ECOWAS Permanent Representative; Hon. Edwin Snowe, Member of the ECOWAS Parliament; and Mr. Serigne M. Ka, Head of the Electoral Assistance Division.
On Election Day, the Head of Mission and team visited Escola Patrice Lumumba in Chão de Papel, where the Mission verified the availability of election materials, the setup of ballot boxes, the presence of party agents, and compliance with opening procedures. The environment was calm, with polling staff demonstrating professionalism and confidence.
The second stop in Praça/Bairro Setembro focused on the consistency of voter identification procedures, queue management and the early flow of voters. Party agents representing different political formations were visibly active, and cooperation between electoral officials and security personnel remained constructive and non-intrusive.
A third observation followed at Casa de Carfa M'baque in Bairro Militar, where the Mission confirmed timely opening, full availability of materials and encouraging early voter turnout. Accessibility and procedural integrity were assessed positively, with no disruptions recorded.
The delegation subsequently convened in the ECOWAS Situation Room for a strategic analytical briefing that integrated real-time updates from long- and short-term observers nationwide.
In the afternoon, the Mission returned to Escola Patrice Lumumba to observe the final stages of voting, including the conclusion of polling and the transition directly into the counting process. ECOWAS observers witnessed the opening of the ballot box for tallying, followed by the systematic sorting, verification and counting of ballots in the full presence of party agents, electoral staff and security personnel. The exercise was conducted transparently and in accordance with established procedures, with each step clearly announced and visible to all accredited stakeholders. Polling officials demonstrated professionalism, composure, and strict adherence to the legal framework, contributing to an atmosphere of trust and reinforcing the credibility of the results management phase.
Across all locations observed, the Mission noted strong civic engagement by voters, disciplined conduct by polling officials and a security environment conducive to inclusive and credible participation. These observations will feed into the Mission's Preliminary Statement and reflect ECOWAS' commitment to fostering democratic consolidation and institutional stability in Guinea-Bissau.
According to data provided by the national electoral authorities, 966,152 registered voters were eligible to participate in the election. The presidential ballot featured 12 candidates, competing across 29 electoral districts and 11 regions nationwide. The ECOWAS monitoring dashboard received 43 validated opening reports and 669 voting-process updates, demonstrating extensive geographic coverage and intense observer presence across the country.
Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).The ECOWAS Election Observation Mission (EOM) intenfies high-level engagements ahead of Guinea-Bissau’s general elections
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The ECOWAS Election Observation Mission (EOM) to the Republic of Guinea-Bissau undertook a full day of political, diplomatic and technical engagements as part of its preparations for the country's Presidential and Legislative Elections scheduled for 23 November 2025.
Led by the Head of Mission, Ambassador Issufu Baba Braimah Kamara, and supported by the ECOWAS Commissioner for Political Affairs, Peace and Security, Ambassador Abdel-Fatau Musah, the Mission continued its consultations with national authorities and electoral stakeholders to assess the country's state of readiness for the polls.
The assessment began with an internal briefing by the technical team to the Head of Mission, during which updates were provided on the medium-term observers deployed across the country since 14th November. The session also reviewed operational preparedness, early voting arrangements for security forces, and the broader political and security environment.
The delegation then proceeded to the Presidential Palace for a courtesy call on H.E. President Umaro Sissoco Embaló, who welcomed the Mission and expressed confidence in the conduct of the upcoming elections.
On his part, Ambassador Kamara outlined the mandate and scope of the EOM, reaffirming ECOWAS' long-standing commitment to supporting democratic consolidation in Guinea-Bissau.
The Mission also had an exchange with the Community of Portuguese-Speaking Countries (CPLP) Observation Mission, enabling both organisations to share insights on the competitiveness of the electoral landscape and the functioning of electoral institutions.
In the early afternoon, the ECOWAS Resident Representative to Guinea Bissau, Ambassador Ngozi Ukaeje convened a plenary session to welcome the 120 short-term observers arriving for deployment. Addressing the observers, Commissioner Musah highlighting the importance of professionalism, impartiality and preventive diplomacy. Ambassador Kamara who formally opened the Mission, urged observers to adhere strictly to ECOWAS' methodology and code of conduct.
The delegation later visited the National Election Commission (CNE) for substantive consultation with Acting Chairman N'Pabi Cabi. The CNE provided an update on the legal, logistical and administrative preparations, including regional readiness and coordination mechanisms for results management. ECOWAS reaffirmed the centrality of the CNE in guaranteeing transparency and credibility and encouraged the consolidation of institutional safeguards ahead of election day.
The Head of Mission also received a delegation led by Mr. Geraldo Martins, representing independent presidential candidate Fernando Dias da Costa. The meeting provided an opportunity to hear the candidate's perspectives on the political environment and the ongoing preparations for the polls, enriching the Mission's broader assessment of stakeholder confidence in the electoral process.
The Mission is deployed under the authority of ECOWAS Commission President H.E. Dr Omar Alieu Touray and in accordance with the ECOWAS Protocol on Democracy and Good Governance.
Consultations with political actors, civil society, security institutions and international partners will continue as the Mission prepares to deploy observers nationwide.
Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).Chairperson of the African Union (AU) Commission strongly condemns the abduction of school children in Nigeria
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The Chairperson of the African Union Commission, H.E. Mahmoud Ali Youssouf, expresses deep concern over the recent reported abduction of school children and teachers in Kebbi State, North-Western Nigeria, and Niger State, North-Central Nigeria.
The Chairperson strongly condemns this despicable act committed against children and innocent people and decries the persistent threats posed by terrorism, violent extremism and banditry in Nigeria. He calls for the full activation of accountability mechanisms to ensure that the perpetrators of these grave crimes are identified and swiftly brought to justice in accordance with existing national, continental and global legal frameworks.
Across the African continent, children are at significant risk of experiencing the six (6) grave violations of children's rights, including recruitment and use by armed groups, sexual violence, abduction, killing, and maiming. The abduction of children remains a deeply troubling and abhorrent trend in Africa, which the AU Commission is actively addressing through various collaborative measures with Member States, regional actors, partners and civil society, to ensure children's rights are fully protected.
Furthermore, the African Union encourages coordinated efforts to secure the immediate release of the abducted school children and others, to ensure their safety and well-being, while reaffirming full solidarity with the Government and people of the Federal Republic of Nigeria during this difficult time.
Distributed by APO Group on behalf of African Union (AU).MODEC Senegal Executives to Speak at MSGBC Oil, Gas & Power 2025
Fatou Diop, Legal, Contracts and Local Content Manager, and Malcolm Watson, Managing Director of offshore oil and gas service company MODEC Senegal will participate as speakers at the upcoming MSGBC Oil, Gas & Power 2025 conference and exhibition.
Their participation at this year's edition – taking place in Dakar on December 8-10 – is set to provide insights into Senegal's first offshore oil development and the operational, technical and local content strategies underpinning the project.
Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region's oil, gas and power sector. Visit www.MSGBCOilGasAndPower.com to secure your participation at the MSGBC Oil, Gas & Power 2025 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
MODEC Senegal plays a central role in the Sangomar field development – which achieved first oil in June 2024 – operated by global energy company Woodside Energy, with participation from Senegal's national oil company Petrosen. The field, located approximately 100km south of Dakar in water depths of around 780 meters, represents Senegal's entry into commercial oil production. The first development phase targets approximately 230 million barrels of crude oil.
MODEC Senegal's scope spans the full lifecycle of the FPSO unit FPSO Léopold Sédar Senghor, from engineering and construction support to long-term operations and maintenance. The FPSO, converted from a very large crude carrier, has a production capacity of 100,000 barrels of oil per day (bpd), gas production of 130 million standard cubic feet per day, water injection capacity of 145,000 bpd and storage capacity of 1.3 million barrels of crude oil. It is designed to accommodate future expansion, including gas export and tiebacks from nearby reservoirs.
MODEC contribution also includes the supply of a complex external turret mooring system through engineering consultant SOFEC, offshore commissioning and ongoing operations and maintenance managed locally by MODEC Senegal. The operation and maintenance operation has an initial duration of 10 years, with the potential for extension.
During this year's event, both executives will be well-positioned to discuss MODEC Senegal's local content initiatives, highlighting training programs, skills development and employment opportunities for Senegalese professionals. Partnerships with firms such as Axess Group are helping build local engineering capabilities to support the Sangomar project and future offshore developments in Senegal.
“MODEC Senegal's participation at MSGBC Oil, Gas & Power 2025 highlights the region's growing offshore oil sector and showcases world-class operational expertise. Attendees will gain valuable insights into Senegal's first offshore development, including technical, operational and local content strategies,” states Sandra Jeque, Events and Project Director, Energy Capital & Power.
Distributed by APO Group on behalf of Energy Capital & Power.South Africa to Fast-Track Gas Projects, Secure Energy Future, Minister Mantashe Says at G20 Forum
South Africa's Minister of Mineral and Petroleum Resources Gwede Mantashe announced that the country is fast-tracking domestic gas development and LNG import projects to mitigate a supply shortfall from Mozambique.
He made the announcement during the G20 Africa Energy Investment Forum – Hosted by the African Energy Chamber – in Johannesburg on November 21.
“We will continue to develop infrastructure to integrate new deposits and avail gas to South Africa,” Minister Mantashe stated, adding, “The biggest solution is us. Having access our own gas deposits.”
The country currently imports 90% of its natural gas via the 865km ROMPCO pipeline from Mozambique's Pande and Temane fields. With South African energy and chemical company Sasol planning to prioritize its internal volumes from mid-2026, the government is accelerating infrastructure and domestic exploration to secure new supplies and strengthen energy resilience.
To address the gap, the government is accelerating the Matola Floating Storage and Regasification Unit in Mozambique, expected online by mid-2026, and the Richards Bay LNG terminal in South Africa, scheduled for 2027. Plans are also underway for new pipelines to connect offshore discoveries in the Orange Basin to the national grid.
Minister Mantashe also emphasized that the country needs to spearhead regulatory reforms to unlock offshore exploration and lift moratoria in the Karoo and Orange Basins. The Orange Basin, site of major discoveries including Brulpadda and Luiperd, has the potential to drastically reduce imports, boost GDP and create jobs, the Minister stated, adding that successful development could unleash billions in investments across petrochemicals and energy sectors.
“Drill, baby, drill,” Minister Mantashe emphasized, adding, “We have no legal restriction on oil and gas exploration and exploitation in South Africa. If we make a breakthrough on oil and gas, our GDP will grow exponentially. Our people will never breathe fresh air in darkness.”
South Africa's move signals a decisive push toward energy self-sufficiency at a time when global LNG markets are volatile and domestic gas demand is set to rise.
Distributed by APO Group on behalf of African Energy Chamber.Afreximbank delivers solid, steady performance for the nine months ended 30 September 2025
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African Export-Import Bank (Afreximbank or the “Bank”) (www.Afreximbank.com) and its subsidiaries (the “Group”) delivered solid results for the nine months period ended 30 September 2025, underscoring its continued financial resilience.
During the period, the total assets and contingencies rose by 6.98% to US$42.9 billion, up from US$40.1 billion as at 31 December 2024 (FY'2024), highlighting the Bank's consistent growth trajectory.
While Net loans and advances closed at US$28.0 billion (FY 2024: US$29.0 billion), the reduction is largely attributable to unscheduled early repayments by clients whose financial positions have improved on account of enhanced cash flows and stronger foreign-currency positions driven by higher commodity prices. The Bank's asset quality remains sound, evidenced by a Non-Performing Loan (NPL) ratio of 2.51%, compared to 2.33% in FY2024.
The Bank's liquidity position remained strong, with cash and cash equivalents increasing to US$7.6 billion, up from US$4.6 billion in FY2024. This increase was driven by successful and targeted fundraising initiatives and unscheduled early loan repayments from borrowing customers. As a result, the proportion of liquid assets to total assets increased and accounted for 20%, compared to 13% in FY2024. This solid liquidity positions the Group well to support its planned disbursement activities.
Shareholders' funds grew to US$7.7 billion as at 30 September 2025, supported by internally generated profits of US$654.3 million and new equity inflows of US$224.9 million mobilised under the General Capital Increase II. The reported Shareholders' funds balances take into account the US$350 million dividend appropriated from FY'2024 profits.
Despite declining benchmark rates, gross income for the nine months to September 2025, rose to US$2.4 billion compared to US$2.3 billion achieved over the same period last year. Operating income also grew by 5.24% to US$1.44 billion, while maintaining strong cost efficiency with a cost-to-income ratio of 21% which is well below the strategic ceiling of 30%.
Resultantly, Net income also grew, increasing from US$642.2 million in 9M'2024, to US$654.3 million in 9M'2025.
Highlights of the results for Afreximbank Group are shown below:
|
Financial Performance Metrics |
9M'2025 |
9M'2024 |
|
Gross Income (US$ billion) |
2.4 |
2.3 |
|
Net Income (US$ million) |
654.3 |
642.2 |
|
Return on average equity (ROAE) |
12% |
13% |
|
Return on average assets (ROAA) |
2.35% |
2.64% |
|
Cost-to-income ratio |
21% |
17% |
|
Financial Position Metrics |
9M'2025 |
9M'2024 |
|
Total Assets (US$ billion) |
37.6 |
32.2 |
|
Total Liabilities (US$ billion) |
29.9 |
25.6 |
|
Shareholders' Funds (US$ billion) |
7.7 |
6.6 |
|
Net asset value per share (US$) |
72,429 |
66,881 |
|
Non-performing loans ratio (NPL) |
2.51% |
2.42% |
|
Cash/Total assets |
20% |
12% |
|
Capital Adequacy ratio (Basel II) |
25% |
25% |
Mr. Denys Denya, Afreximbank's Senior Executive Vice President, commented:
“Amid persistent geopolitical tensions, global uncertainty, and tight financial conditions, the Group demonstrated resilience and delivered a satisfactory performance for the nine-month period ended 30 September 2025, in line with expectations. This resilience as reflected in strong liquidity, a robust capital base, and high-quality assets, underscores the Group's ability to navigate through the challenging operating environment. Beyond supporting profitability, the demonstrated resilience will serve as a springboard for expanding lending activities, enhancing capacity to deliver on the Group's mandate, and creating sustainable long-term value in line with the 6th Strategic Plan”.
Distributed by APO Group on behalf of Afreximbank.Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.Afreximbank.com
FORWARD-LOOKING STATEMENTS:
African Export-Import Bank (Afreximbank) Group makes written and/or oral forward-looking statements, as shown in this release and other communications, from time to time. Likewise, officers of the Bank may make forward-looking statements either in writing or during verbal conversations with investors, analysts, the media, and other members of the investment community. Statements regarding the Bank's strategies, objectives, priorities, and anticipated financial performance for the period constitute forward-looking statements. They are often described with words like "should", "would", "may", "could", "expect", "anticipate", "estimate", "project", "intend", and "believe".
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Any forward-looking statements contained in this press release represents the views of management only as of the date hereof. These statements are meant to assist the Bank's investors and analysts to understand the Bank's financial position, strategies, objectives, priorities, and anticipated financial performance in relation to the current period, and, as such, may not be appropriate for other purposes. The Bank does not undertake to update any forward-looking statements, whether written or verbal, which may be made from time to time by it or on its behalf, except as required under applicable relevant regulatory provisions or requirements.
Kenya: Amb. Guo Haiyan Meets with Principal Secretary (PS) Anne Wango’ombe
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On November 14, H.E. Amb. Guo Haiyan met with Ms. Anne Wango'ombe, Principal Secretary for Gender and Affirmative Action, Ministry of Gender, Culture and Children Services of Kenya.
PS Wango'ombe shared her experience of participating the Global Leaders' Meeting on Women held in Beijing last October and extended her congratulations on the successful event commenting it is not only a testimony of China's leadership in global women's causes, but of great significance in advancing global women empowerment. PS further highly commended China's achievements in women's education, legal protection, economic inclusion and empowerment across the board.
Amb. Guo expressed Chinese side's appreciation to Kenya's strong support in holding the Global Leaders' Meeting on Women and agreed to jointly implement the important achievements reached on the Meeting, strengthen bilateral cooperation in women causes aiming to contribute positively to building a China–Kenya community with a shared future in the new era.
Distributed by APO Group on behalf of Embassy of the People's Republic of China in the Republic of Kenya.
