News On The Go

News On The Go financial and travels

13/05/2026

South Africa has secured a $150 million development policy loan from the OPEC Fund for International Development to support reforms across the country’s energy, rail, and port infrastructure systems.

The agreement, announced by the National Treasury, marks the first financing partnership between the South African government and the OPEC Fund.

Officials say the funding will help advance efforts to improve infrastructure planning, financing, and service delivery while addressing operational constraints that have slowed economic activity.

The loan carries a six-year maturity period with a two-year grace period and is priced at six-month SOFR plus 1.25%, offering what authorities describe as a more flexible financing option amid ongoing fiscal pressures.

South Africa continues to face challenges tied to electricity reliability and freight logistics bottlenecks, issues that have weighed on mining, manufacturing, and broader industrial output.

The deal forms part of a wider strategy to diversify funding sources while supporting long-term structural reforms.

13/05/2026

Egypt’s real estate giant is rewriting the playbook, and the numbers are hard to ignore.

Hisham Talaat Moustafa’s TMG has kicked off 2026 with a powerful statement: EGP5.5 billion ($103.92 million) in quarterly profit, a surging $8.6 billion backlog, and a business model that’s rapidly evolving beyond traditional property sales.

But here’s the twist, sales actually dropped 36%.

So what’s driving the growth?

From booming hospitality earnings and rising recurring revenues to a bold Saudi expansion and a EGP30 billion ($566.73 million) sales blitz in just 15 days, TMG is proving that resilience in today’s market isn’t about volume, it’s about strategy.

With hotels, retail, and integrated communities now contributing more than half of its revenue, TMG is quietly transforming into a diversified cash-generating machine.

Is this the future of real estate in emerging markets?

One thing is clear: TMG isn’t just building cities, it’s building a new growth model.

📌Tap the comment below to read the full story.

13/05/2026

Africa’s capital markets could be heading for a landmark moment.

Aliko Dangote is engaging global institutional investors, including Norges Bank Investment Management, ahead of a planned public listing of Dangote Petroleum Refinery & Petrochemicals that could value the business at $50 billion.

The discussions highlight growing international interest in Africa’s energy, infrastructure and industrial sectors as investors seek long-term exposure to rising demand across the continent.

The 650,000-barrel-per-day refinery, located in the Ibeju-Lekki Free Zone, has already begun reshaping fuel trade flows in West Africa while strengthening Nigeria’s domestic fuel supply chain.

Dangote is also targeting a major expansion to 1.4 million barrels per day as exports and regional fuel demand continue to rise.

13/05/2026

Liquid Intelligent Technologies, part of Cassava Technologies owned by Zimbabwean billionaire Strive Masiyiwa, is expanding its cloud and cybersecurity footprint in Botswana as competition intensifies for Africa’s enterprise digital infrastructure market.

The rollout strengthens Botswana’s positioning as a regional connectivity hub, with businesses gaining access to integrated cloud services, cybersecurity tools, and digital transformation support designed for both small enterprises and large corporations.

At the centre of the offering is Secure360, an integrated security framework from Liquid Intelligent Technologies, designed to shift organisations from reactive cyber defense to predictive, intelligence-led protection.

Secure360 combines cloud infrastructure, threat monitoring, and risk intelligence into a unified platform aimed at strengthening enterprise resilience.

According to the company, the model is designed to support Africa’s fast-digitising sectors, including financial services, telecoms, and government systems—where cyber risks are rising alongside cloud adoption.

📌Tap the comment below to read the full story.

13/05/2026

Nigeria’s oil sector moved closer to a key milestone in April 2026 as crude production rebounded near the country’s OPEC quota, supported by stronger field performance, improved operational stability and expanding export activity.

Average daily crude and condensate output climbed to 1.663 million barrels per day from 1.546 million barrels in March, according to industry data.

Crude production alone averaged 1.488 million barrels per day, bringing Africa’s largest oil producer within reach of full OPEC compliance for the first time in months.

The recovery comes as Nigerian National Petroleum Company Limited broadens its export portfolio with new crude grades including Cawthorne, while advancing major gas infrastructure and refinery rehabilitation projects aimed at boosting long-term supply reliability and industrial growth.

Rising production and export diversification could strengthen Nigeria’s position in global energy markets as demand for reliable crude supply remains firm.

13/05/2026

Elsewedy Electric is proving that scale, strategy, and diversification still win, even in volatile markets.

The Egyptian industrial giant, led by the El-Sewedy family, has kicked off 2026 with a powerful statement: EGP4.85 billion ($91.49 million) in quarterly profit, up nearly 17% year-on-year. But the real story isn’t just profit, it’s momentum.

Revenue surged almost 27% to EGP75.3 billion ($1.42 billion), fueled by rising demand for energy infrastructure across the Middle East and Africa. Its cables business remains dominant, engineering projects are expanding, and its digital division is exploding, with 64% growth and surging smart meter demand.

Despite inflation, currency pressures, and rising costs, Elsewedy is scaling intelligently, building backlog, expanding globally, and positioning itself at the center of Africa’s energy transition.

With billions in project pipelines and strong international exposure, the company isn’t just growing, it’s shaping the future of infrastructure across emerging markets.

📌Tap the comment below to read the full story.

13/05/2026

Nigeria and Morocco are moving closer to sealing a landmark agreement on the proposed $25 billion Atlantic gas pipeline project, one of Africa’s most ambitious cross-border energy infrastructure developments.

Both countries are expected to sign an intergovernmental agreement in the fourth quarter of 2026, advancing plans for the Nigeria-Morocco Gas Pipeline, a strategic project designed to connect West African gas reserves to North Africa and European markets.

The development emerged following discussions between Nigeria’s Foreign Minister Bianca Odumegwu-Ojukwu and Moroccan Foreign Minister Nasser Bourita, according to a statement from Nigeria’s foreign ministry.

First proposed nearly a decade ago, the pipeline is expected to stretch between 5,600 kilometers and 6,900 kilometers along a hybrid offshore-onshore route crossing 13 Atlantic coast nations.

The project is designed with a projected capacity of about 30 billion cubic meters of gas annually, including roughly 15 bcm dedicated to Morocco’s domestic market and exports into Europe.

📌Tap the comment below to read the full story.

13/05/2026

A $490 million cultural landmark is set to reshape Saudi Arabia’s contemporary art landscape as a joint venture which includes Hassan Allam Construction Saudi L.L.C. secures a major contract to deliver the Saudi Arabia Museum of Contemporary Art in Diriyah, awarded by Diriyah Company.

Positioned within the Kingdom’s $63.2 billion Diriyah development, the project reinforces Saudi Arabia’s push to diversify beyond oil under Vision 2030, expanding its cultural and tourism economy through world-class infrastructure.

The museum will serve as a regional hub for modern and contemporary art, supporting Saudi and international artists while elevating creative exchange.

Designed to achieve sustainability benchmarks and span over 45,000 square meters, it reflects the growing scale and ambition of Saudi giga-projects such as NEOM, Qiddiya, and Red Sea Global.

With Diriyah projected to generate billions in GDP and millions of annual visits, the contract underscores accelerating investor confidence in the Kingdom’s cultural transformation momentum.

📌Tap the comment below to read the full story.

13/05/2026

Can Africa’s digital and energy gap be closed at scale through a single partnership?

Axian Group, the pan-African investment conglomerate led by Malagasy entrepreneur Hassanein Hiridjee, has entered a €300 million ($351.28 million) strategic partnership with Proparco to accelerate infrastructure expansion across the continent.

Announced at the Africa Forward Summit in Nairobi, the initiative targets Africa’s most pressing bottlenecks, limited broadband access, unreliable electricity, and widening gaps in digital financial inclusion.

The collaboration will channel capital into broadband networks, renewable energy projects, data centers, and telecom energy systems, while supporting mobile money, microcredit, insurance, and Africa’s startup ecosystem.

With Axian Telecom already serving over 42.9 million mobile subscribers across 17 markets, the deal aims to deepen connectivity and unlock AI-ready infrastructure across underserved regions.

As demand for digital services surges, this partnership signals a shift: infrastructure investment is no longer optional, it is the foundation of Africa’s next growth phase.

📌Tap the comment below to read the full story.

13/05/2026

Africa’s SME financing gap just met a powerful catalyst.
In a move that could reshape credit access in one of the continent’s most underserved markets, Ecobank DRC has secured a $30 million risk-sharing facility from British International Investment (BII), a deal designed to unlock lending at scale without increasing systemic risk.

Here’s why this matters: SMEs are the backbone of the Democratic Republic of Congo’s economy, yet thousands remain locked out of funding due to collateral constraints and high borrowing costs. This facility flips that script.

By sharing credit risk, BII enables Ecobank to lend more, go longer on tenors, and support businesses across agriculture, energy, infrastructure, and industrial sectors.

But this is bigger than one deal; it signals a growing shift in how capital flows into frontier African markets.

📌Tap the comment below to read the full story.

13/05/2026

Mozambique is making a bold $40 million bet on its future, and it’s not just about gas, it’s about people.

For years, Africa’s biggest energy projects have relied heavily on foreign expertise, leaving local talent on the sidelines. Now, Mozambique is rewriting that script. With the launch of a new LNG technology center in Maputo, the country is taking direct aim at one of the industry’s biggest gaps: skills.

Backed by ExxonMobil and key energy partners, the facility will train hundreds of technicians annually, equipping young Mozambicans with globally recognized certifications in critical fields like process operations and mechanical maintenance.

This is more than infrastructure, it’s a strategic shift toward local empowerment, job creation, and retaining value within the economy.

As billions continue to flow into the Rovuma Basin, one question stands out: could this mark the turning point where Africa finally builds its energy wealth with its own talent?

📌Tap the comment below to read the full story.

Address

12, Ifelodun Street, Oko-Oba, Agege
Lagos
100283

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00

Website

Alerts

Be the first to know and let us send you an email when News On The Go posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to News On The Go:

Shortcuts

Share

Category