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MSGBC 2025 Panel to Explore How Green Hydrogen Can Power West Africa’s Energy Transition
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This year's MSGBC Oil, Gas & Power 2025 (www.MSGBCOilGasAndPower.com), taking place December 8-10 in Dakar, Senegal, will feature a dedicated session on Green Hydrogen: Advancing Africa's Advantage and the Rise of Regional Production Alliances. The panel will explore green hydrogen production in the MSGBC basin, emerging regional partnerships and the potential for large-scale industrialization and export.
The session will bring together leading figures in the sector, including Taghiya Abeidarrahmane, Director of Low Carbon Hydrogen, Ministry of Petroleum and Energy, Mauritania; Thierry Lepercq, Founder and CEO, Hydeal Ambition; Prof. Dr. Stefan Liebing, CEO, Conjuncta GmbH; and Mike Scholey, CEO, CWP Global.
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.
Mauritania (https://apo-opa.co/4nRpM7m) is at the forefront of green hydrogen developments in the MSGBC region, with projects leveraging solar and wind resources for industrial-scale hydrogen production. In March 2025, renewable energy company CWP reached a milestone with geological, hydrogeological and seabed bathymetric studies completed for its 30 GW Aman Project – setting the foundation for a facility that aims to produce up to 1.7 million tons of green hydrogen and 10 million tons of green ammonia annually. In February 2025, Danish company GreenGo Energy (https://apo-opa.co/4i3AUNw) signed a framework agreement with the Mauritanian government to develop the 6 GW Megaton Moon Project, securing access to over 100 000 hectares near Nouakchott. The initial phase of the project aims for 500 MW electrolysis, 600 MW onshore wind and 600 MWp solar PV by 2029, producing approximately 339 000 tons of green ammonia annually.
Meanwhile, a 10 GW project developed by renewable energy companies Conjuncta, Masdar and Infinity (https://apo-opa.co/47SpwPF) is in the feasibility phase, targeting an annual output of 8 million tons of green hydrogen. Phase 1 – a 400 MW installation – is scheduled for 2028. The panel is set to unpack how projects of this size are being structured, financed and aligned with national strategies for export‑scale hydrogen hubs, while also examining the emerging regional alliances shaping distribution networks.
Under Mauritania's Green Hydrogen Code and accompanying roadmap, the country is establishing institutional, fiscal and customs frameworks to support large‑scale hydrogen investment. Models include shipping hydrogen as ammonia, developing green iron using domestic mining coalitions and exploring subsea pipelines for export to Europe. As such, panelists during the Green Hydrogen: Advancing Africa's Advantage and the Rise of Regional Production Alliances session are expected to examine how regulatory and export infrastructure mechanisms align with production projects in the region.
“The session will showcase how Africa's green hydrogen projects are moving from vision to reality,” notes Sandra Jeque, Events and Project Director, Energy Capital & Power, adding, “By connecting international investors, regional developers and policymakers, MSGBC Oil, Gas & Power 2025 highlights pathways for scaling green hydrogen production and strengthening regional collaboration.”
Distributed by APO Group on behalf of Energy Capital & Power.South Africa can Realize its Gas Potential with a Balanced Gas-to-Liquids Strategy (By NJ Ayuk)
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By NJ Ayuk, Executive Chairman, African Energy Chamber (https://EnergyChamber.org/)
It is not an exaggeration to say that South Africa's offshore gas discoveries offer up a potential economic transformation for the country that would be on par with Guyana's oil-driven boom or Suriname's emerging energy sector.
Estimates for the Luiperd-Brulpadda gas-condensate project, in Block 11B/12B off South Africa's southern coast, gauge its holdings at 3.4 trillion cubic feet (tcf) of gas and 192 million barrels of gas condensate. Production at this site would equate to thousands of jobs and a revitalization of regions like Mossel Bay, where South Africa's gas-to-liquids refinery once fueled local employment and industry before declining production forced cutbacks.
Unfortunately, this could all be just wishful thinking, as TotalEnergies' exit from this project in 2024 revealed a critical barrier.
South Africa's gas potential is currently locked up, partly because of legal challenges initiated by environmental activist groups that halted projects to the tune of USD1.6 billion, but also due to the inability of all parties involved to come to an agreement on gas purchase pricing.
The GTL Solution
A gas-to-liquids (GTL) strategy — one that links prices to liquefied natural gas (LNG) spot markets and includes meaningful community engagement — would help balance the needs of upstream investors, downstream users, and the coastal communities while delivering sustainable growth for the rest of the nation.
The gas pricing dilemma is the main obstacle.
Upstream companies like TotalEnergies demand dollar-based contracts to mitigate currency risk and ensure returns on their substantial exploration investments. The South African government is justifiably wary of dollar-denominated agreements and would prefer rand-based prices to protect local consumers and maintain affordability. The impasse TotalEnergies encountered on this issue is one of the factors behind their withdrawal from Block 11B/12B, despite their promising, hard-won discoveries at the site.
The domestic market complicates the situation even further.
Electricity producers require low gas prices, as they operate on slim margins once carbon costs are accounted for. Upstream operators, on the other hand, need to collect higher prices to justify the development of their capital-intensive deepwater projects. Meanwhile, the global LNG market is expected to remain saturated for the next three to five years, making the export of gas in the form of LNG a less competitive option for now. Without a pricing compromise, South Africa's gas remains untapped, leaving behind all the profit and opportunity it represents.
A GTL strategy offers a multifaceted solution, however. By revitalizing the PetroSA GTL facility in Mossel Bay and converting natural gas into high-value liquid fuels like diesel and kerosene on site, South Africa could cut its reliance on fuel imports, strengthen its energy security, and extend employment opportunities to thousands of workers.
The precedent is clear: In Suriname, TotalEnergies' GranMorgu deepwater project is set to generate 6,000 local jobs and inject at least USD1 billion into the economy. A similar initiative at the dormant Mossel Bay facility could transform South Africa's southern coast, providing the government with fresh revenue and wider economic stability.
This is not mere optimism; this gameplan would be a practical means of leveraging existing infrastructure to drive regional development. But, once again, the economic viability of a GTL strategy as a solution for South African gas production hinges on securing a gas pricing agreement that satisfies the needs of both producers and consumers.
To resolve this pricing stalemate, South Africa should adopt a formula that ties the gas purchase price to the global LNG spot price, minus a percentage to reflect the absence of liquefaction and transportation costs. This approach would allow upstream companies to receive dollar-based payments, satisfying their financial requirements while aligning with the inherent shifts in the global market. Downstream, power producers and GTL operators would enjoy the affordability of discounted pricing, making projects economically feasible at both ends of the supply chain.
Furthermore, the government could incentivize GTL development through tax breaks, infrastructure subsidies, or public-private partnerships, so the economic benefits of these projects would be more likely to outweigh the initial costs. This pricing model would be a fair compromise that avoids the pitfalls of rand-based contracts and meets the needs of all stakeholders.
Additional Roadblocks
Overcoming environmental opposition is another critical step toward progress in gas development, and overlooking community engagement in this regard only empowers non-governmental organizations (NGOs) to challenge projects in court. Petroleum Agency SA's community awareness campaigns, which educate locals about the benefits and risks of gas development, offer a model for improvement in this area. Expanding such efforts to include early and transparent engagement in the environmental impact assessment (EIA) process would help build trust and reduce grounds for legal action.
Town hall meetings and accessible EIA summaries would be a means of highlighting the economic benefits of a GTL strategy. By involving communities as stakeholders, the government and industry can work together to demonstrate that gas development can create shared prosperity.
The implementation of a GTL strategy is itself another way of addressing the legal pushback brought against South African exploration projects. Liquid fuels produced domestically reduce emissions by avoiding long-distance shipping, meaning that a GTL strategy is already in alignment with environmental goals from the start. Emphasizing the lower carbon footprint of a GTL operation would go a long way in gaining public approval of the project, but the government must still work to speed up the permitting process by establishing clear, time-bound guidelines for EIAs and consultations. Mechanisms should also be put in place to limit repetitive, post-approval legal challenges and allow projects to proceed without endless litigation.
A dedicated task force of industry, government, and local representatives would strengthen South Africa's negotiating power and help hold projects accountable to environmental and social standards.
A Collaborative Path Forward
Extracting and monetizing the gas resources held in Block 11B/12B and elsewhere could be a course-correcting game-changer for South Africa, but doing so to the greatest possible benefit requires bold, collaborative action. For South Africa to truly benefit from its gas resources, President Cyril Ramaphosa's administration must move beyond the traditional focus on coal and mining, prioritize gas development, and embrace the potential of a GTL strategy.
By reviving the defunct Mossel Bay GTL facility and implementing a pricing model tied to LNG spot prices, the government can satisfy the needs of both upstream and downstream stakeholders while creating jobs for South Africans and reducing their dependency on imports. Simplifying the permit process and expanding community engagement would address environmental concerns so that projects can move forward without unnecessary delays or lawsuits.
With decisive leadership and a commitment to balance, South Africa can transform its gas potential into a catalyst for sustainable growth and secure a prosperous future, not just for the industry, but for the nation as a whole.
Distributed by APO Group on behalf of African Energy Chamber.The Fund for Export Development in Africa (FEDA) Announces Landmark Investment in Africa Minerals and Metals Processing Platform (A2MP) to Drive Africa’s Mining and...
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The Fund for Export Development in Africa (FEDA), the development equity impact investment arm of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), is pleased to announce a US$300 million strategic investment in the Africa Minerals and Metals Processing Platform (A2MP).
This investment underscores Afreximbank's commitment to supporting Africa's mining sector and ensuring the continent's vast mineral wealth becomes a catalyst for sustainable economic growth rather than a source of continued resource dependency.
Rooted in over a decade of successful mining ventures, A2MP has evolved into a diversified pan-African platform focused on mining and processing. The platform aims to unlock and scale minerals and metals value chains sustainably across the continent. The platform currently operates a robust pipeline of twelve mineral assets and four processing hubs, with a diversified portfolio spanning nine countries on the continent.
This extensive footprint places A2MP at the forefront of efforts to develop integrated minerals and metals value chains, unlocking new pathways for Africa's industrial growth and global market integration -- particularly at a time when the industry faces mounting challenges from the depletion of high-grade and easily accessible ore reserves.
A2MP brings together a diversified portfolio of leading mining assets and operating companies across multiple mineral classes, including gold, bauxite and alumina, manganese, iron ore amongst others. A2MP will also develop additional processing hubs, including those for rare earths, battery precursors, and other critical minerals, to strengthen value addition across the continent.
Dr. George Elombi, the new President and Chairman of the Board of Directors of Afreximbank and FEDA commented: “We are pleased to have successfully closed this investment in Africa Minerals and Metals Processing Platform (A2MP), which aligns with our broad vision to change the structure of Africa's trade and economy. With this investment, Afreximbank is helping the continent transition structurally from raw-material exports to a fully integrated system of mining and local manufacturing. Our investment in the platform will scale local processing capacity and build the infrastructure needed for value addition across multiple mineral classes. A2MP's integrated platform ensures that a greater share of the continent's mineral wealth is retained within African economies, enabling the creation of competitive industrial clusters and high-value jobs.”
Gagan Gupta, Founder of A2MP: “FEDA and Afreximbank's support marks a pivotal moment for Africa's industrial journey. It's more than a financial partnership; it is a bold affirmation of Africa's potential to lead the global value chain in minerals and metals. This strategic investment allows us to scale our fully integrated model of responsible extraction, processing, and transformation while accelerating the creation of high-value local industries across Africa. Our ambition is to make A2MP the backbone of the continent's next industrial revolution, create thousands of jobs, and deliver lasting impact for communities. With FEDA and Afreximbank as key partners, we are confident in our ability to shift global perceptions of Africa, from a resource-rich continent to a processing and manufacturing powerhouse.”
Marlene Ngoyi, CEO of FEDA noted: “Our investment in A2MP embodies the type of transformative investment that aligns perfectly with our vision for Africa's mining future. The platform's model is built on retaining beneficiation and processing within the continent, ensuring that the real economic value of Africa's mineral wealth is captured locally. By offering diversified exposure across a broad range of strategic minerals, A2MP stands out as a unique platform capable of building depth across critical value chains while providing resilience and sustainability.”
Distributed by APO Group on behalf of Afreximbank.Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
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 has 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), 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.
About FEDA:
The Fund for Export Development in Africa (“FEDA”) is the impact investment subsidiary of Afreximbank (www.Afreximbank.com), set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa. FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain which includes financial services, technology, consumer and retail goods, manufacturing, transport & logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks. To date, FEDA has invested more than US$1.3 billion in companies and projects across its various fund initiatives, in sectors such as manufacturing, agro-processing, financial services, healthcare and pharmaceuticals, amongst others.
One Month to Go to MSGBC Oil, Gas & Power 2025 – West Africa’s Premier Gathering for Inclusive Economic Development
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With just one month to go until the highly anticipated MSGBC Oil, Gas & Power 2025 conference and exhibition, regional and international stakeholders are gearing up for the MSGBC basin's premier energy and mining event, taking place on December 8-10, 2025, at the Centre International de Conférences Abdou Diouf (CICAD) in Dakar, Senegal.
Held under the theme Energy, Petroleum and Mining in Africa: Synergy for Inclusive Economic Development, the 2025 edition will convene government leaders, global investors and industry executives to unlock a new era of growth, integration and value creation across Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry.
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.
A Landmark Year for Regional Production
This year's event coincides with a milestone moment for the MSGBC basin, as first oil and gas production reshape the region's economic trajectory. Senegal has officially achieved first oil from the deepwater Sangomar field, operated by Woodside Energy in partnership with the country's state-owned Petrosen, marking a new chapter in national industrial development and job creation. Meanwhile, the Greater Tortue Ahmeyim LNG project, led by bp and Kosmos Energy, has reached its first gas milestone – positioning Senegal and Mauritania as pioneers in Africa's offshore LNG frontier.
Further updates on the Yakaar-Teranga project and Bir Allah are expected to underscore the basin's growing gas potential, cementing its status as one of the world's most dynamic new energy frontiers.
Energy-Mining Nexus and Economic Diversification
Reflecting its 2025 theme, the conference will emphasize synergies between the energy and mining sectors to drive inclusive and sustainable development. Sessions will spotlight Mauritania's green hydrogen leadership, with multi-billion-dollar projects spearheaded by partners such as HyDeal Ambition and CWP Global; Guinea-Conakry's booming mining industry, led by major bauxite and iron ore developments like Simandou; and cross-sector infrastructure projects, including LNG export terminals, power interconnectors and cross-border pipelines.
As countries like The Gambia target 90% electricity access by end-2025, the conference will examine how regional integration and investment can fast-track universal energy access while supporting industrial growth.
High-Level Participation and Strategic Dialogue
Held under the high patronage of Bassirou Diomaye Faye, President of the Republic of Senegal, the event will feature a Ministerial Dialogue with top energy leaders from across the basin including Senegal's Minister of Energy, Oil and Mines Birame Soulèye Diop; Mauritania's Minister of Energy and Oil Mohamed Ould Khaled; The Gambia's Minister of Petroleum and Energy Nani Juwara; Guinea-Bissau's Minister of Natural Resources Malam Sambu; and Guinea-Conakry's Minister of Energy, Hydropower and Hydrocarbons Namory Camara.
In addition to high-level panels and policy discussions, the program includes a Technical Workshop Day on December 8 hosted by the Society of Petroleum Engineers Senegal, focused on gas field management, local content and production optimization. A CEO Assembly will gather C-suite executives, government officials and financiers for closed-door investment discussions.
Executives from Kosmos Energy, Woodside Energy, Africa Fortesa Corporation and S&P Global Commodity Insights are among those confirmed to share insights on project pipelines, regional competitiveness and global market outlooks.
Investment, Partnerships and Local Content
The MSGBC Oil, Gas & Power 2025 conference and exhibition serves as a gateway for investors and policymakers to forge partnerships, accelerate local content development and advance Africa's broader energy transition. Local capacity building will be a major focus, with institutions like the National Institute of Petroleum and Gas driving workforce development and technology transfer initiatives.
With one month to go, MSGBC Oil, Gas & Power 2025 stands ready to define the next phase of West Africa's energy evolution – connecting leaders, catalyzing investment and shaping a sustainable, inclusive energy and mining future for the region.
Distributed by APO Group on behalf of Energy Capital & Power.African Energy Chamber (AEC) Announces Working Visit to Senegal Amid Regional Energy Transformation
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The African Energy Chamber (AEC) (https://EnergyChamber.org/)– the voice of the African energy sector – will embark on a working visit to Senegal on 12-14 November, aimed at strengthening partnerships, attracting new investment and supporting the continued growth of the regional energy sector. Led by Executive Chairman NJ Ayuk, the AEC will engage in meetings with senior government officials, regulators and private sector leaders, exploring new avenues for collaboration and spotlighting emerging investment opportunities across the broader MSGBC energy industry.
The working visit comes ahead of the MSGBC Oil, Gas & Power 2025 Conference – taking place in Dakar, Senegal from December 8-10. Held under the patronage of Bassirou Diomaye Faye, President of the Republic of Senegal, the event unites global investors and regional governments, facilitating capital and technology transfer and creating synergies for inclusive economic development. By showcasing project milestones, offering insight into policy reforms and outlining emerging investment opportunities in oil, gas renewable energy and mining, the event affirms the MSGBC region's position as a hub for energy and mineral development.
The MSGBC region is entering a period of significant transformation, fueled by the start of offshore hydrocarbon projects and the rise in new exploration and production opportunities. Senegal has been at the forefront of this transformation, with the start of the Sangomar oilfield development in 2024 and the Greater Tortue Ahmeyim (GTA) LNG project in 2025. The country is now looking toward GTA phase two while seeking partners to advance the Yakaar-Teranga gas project. To further support investment, the country announced that it is reviewing its oil and gas codes ahead of MSGBC Oil, Gas & Power 2025, with revisions focusing on transparency, local content and ensuring revenues benefit Senegalese citizens.
“Senegal represents one of Africa's most promising energy success stories. From world-class gas developments to bold energy transition policies, the country is setting a benchmark for how to attract investment, create local opportunities and foster inclusive growth. Through our working visit, we aim to deepen collaboration with Senegalese partners and ensure that the MSGBC region continues to be a driving force in shaping Africa's energy future,” said NJ Ayuk, Executive Chairman of the AEC.
The MSGBC region's energy opportunities transcend Senegal, with regional neighbors making a strong play for energy investment. On the back of the start of production at GTA, Mauritania is turning towards the next phase of its energy development, seeking foreign investment in gas projects while advancing green hydrogen developments. The country is currently seeking partners to advance the development of the BirAllah gas project, home to an estimated 80 trillion cubic feet of reserves, and has recently launched a tender for the development of a 230 MW gas-to-power project. By 2040, the country aims to produce up to 10 million tons of green hydrogen per year, with advancements underway at the 30 GW AMAN and 10 GW Project Nour developments.
Guinea Bissau is also making a play for oil and gas discoveries, with energy major Chevron recently securing operatorship of two oil exploration blocks. The company gains a stake in Blocks 5B and 6B, with plans to leverage existing seismic data to assess options for testing the petroleum system. The country is also working towards improving oil and gas legislation, with a cooperation agreement signed with Azerbaijan in place. Guinea Conakry is finalizing terms for a 22-block licensing round under efforts to attract investment in frontier exploration blocks. While the country is not yet a producer of oil and gas, efforts are underway to turn this trend around. The establishment of a National Seismic Data Visualization Center in partnership with SLB and TGS supports exploration by de-risking and incentivizing drilling.
Meanwhile, The Gambia is in the process of establishing a new petroleum exploration, development and production bill, striving to enhance transparency and entice spending. These efforts not only strengthen the region's investment attractiveness but affirm its position as a rising player in global oil and gas markets. The AEC's working visit will not only spotlight Senegalese energy opportunities but the broader MSGBC region. By facilitating dialogue between policymakers and investors, the visit – and upcoming MGSBC conference – will advance energy projects by encouraging new entries into the regional market.
Distributed by APO Group on behalf of African Energy Chamber.African Union’s African Inclusive Markets Excellence Centre (AIMEC) Unlocks Strategic Planning Workshop to Solidify Operational Framework
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The African Inclusive Markets Excellence Centre (AIMEC) successfully convened its inaugural Strategic Planning Workshop in Tunis, Tunisia, from 28 to 30 October 2025. The pivotal three-day meeting solidified the Centre's operational framework and charted a clear roadmap for its activities, positioning it as a key driver of inclusive and sustainable economic growth in line with Agenda 2063 and the UN Sustainable Development Goals (SDGs).
AIMEC is an initiative of the African Union Commission (AUC), hosted by Tunisia, aimed at fostering inclusive economic development across the continent. It supports AU member states in designing policies that promote equitable access to market opportunities, especially for marginalized communities.
The workshop was opened by Ambassador Dr. Youssef ElKordofani, the Executive Director of AIMEC and H.E. Mr. Samir Abid, Minister of Trade and Export Development of Tunisia. The meeting also brought together high-level stakeholders, including the AU Commissioner for Economic Development, Trade, Industry and Mining, H.E. Ms. Francisca Belobe (participated virtually), the President of the African Business Council Dr. Amany Omar Asfour, the Regional Director of GIZ for Tunisia and Libya, and representatives from regional organisations, international partners, and the African private sector.
The meeting successfully delivered on its core objectives, culminating in the adoption of AIMEC's Strategic Framework for the period 2025–2027, featuring a detailed implementation roadmap for initial initiatives. This framework is designed around AIMEC's four key objectives: Knowledge Leadership, Policy Innovation, Capacity Building, and Scaling Solutions.
Discussions centered on the Centre's core mandate to foster inclusive markets and businesses, particularly in empowering women, youth, and vulnerable groups across the continent. Participants showcased best practices and successful experiences, emphasizing the need to integrate inclusive market and business projects into existing regional economic integration efforts.
The workshop concluded with assigned responsibilities and timelines for immediate next steps, including initial staffing and operational setup, ensuring the rapid commencement of the Centre's work. The event garnered extensive national media coverage in Tunisia, underscoring its importance in advancing African cooperation and solidifying Tunisia's role as a regional hub for continental initiatives.
Distributed by APO Group on behalf of African Union (AU).International Monetary Fund (IMF) Staff Concludes Visit to Zimbabwe
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- Zimbabwe's economic rebound in 2025 has been stronger than expected, supported by a recovery in agriculture, solid mining performance, and easing inflation amid exchange rate stability.
- Discussions in Harare emphasized the importance of reinforcing fiscal discipline in the 2026 budget by aligning expenditures with revenues and sustainable financing sources, while strengthening expenditure management.
An International Monetary Fund (IMF) staff team, led by Mr. Wojciech Maliszewski, visited Zimbabwe from October 29 to November 5, 2025, as part of the Fund's regular engagement with the Zimbabwean authorities and other stakeholders..
At the conclusion of the visit, Mr. Maliszewski issued the following statement:
“The IMF mission held productive discussions with the Zimbabwean authorities on recent economic developments and the 2026 budget framework.
“Zimbabwe's economic recovery in 2025 is stronger than previously anticipated, given the rebound in agriculture and solid performances in mining, while inflation has continued to significantly ease, supported by a stable foreign exchange rate. The economy is expected to maintain strong momentum in 2026.
“Discussions in Harare focused on enhancing fiscal discipline in the 2026 budget framework by aligning expenditures with revenues and available non-inflationary financing sources, while avoiding the accumulation of expenditure arrears. In this context, adopting credible revenue projections supported by concrete policy and administrative tax measures for 2026, and strengthening expenditure management, would help enhance fiscal resilience and the management of fiscal risks and pressures.
“In the context of the requested Staff Monitored Program, IMF staff stand ready to resume discussions upon progress towards addressing key policy issues highlighted in the Article IV consultations, including aligning the 2026 budget with the objective of sustaining macroeconomic stability.”
“IMF staff met with the Minister of Finance, Economic Development and Investment Promotion, Hon. Mthuli Ncube, the Governor of the Reserve Bank of Zimbabwe, Dr. John Mushayavanhu, and their respective teams, as well as other stakeholders. The IMF team wishes to express its sincere appreciation to the Zimbabwean authorities and all counterparts for their warm hospitality, open dialogue, and excellent cooperation throughout the mission.”
Distributed by APO Group on behalf of International Monetary Fund (IMF).
