ANED

Dangote Petroleum Refinery reported a net profit of $4.73bn on revenue of $22.48bn for the nine months to September, against a loss a year earlier. Nigeria’s Securities and Exchange Commission has approved extending its share offer, which seeks about $1.6bn, to 27 October.

Ethiopia has inaugurated a National Precious Metals Refinery with capacity for more than 600 tonnes a year, owned 51% by the state through Ethiopian Investment Holdings. Prime Minister Abiy Ahmed says the aim is to replace raw exports in a country where gold earned about half of last year’s export revenue.

Construction can now begin near Kafue Town in Zambia’s Lusaka Province. Globeleq has reached financial close on the 40MWac Kafue solar project, with US$52.1m committed by FMO and British International Investment and a 25-year power purchase agreement with ZESCO in place. Globeleq also owns 51% of Lunsemfwa Hydro Power Company and is developing solar with battery storage at Leopards Hill. It sells to private industrial customers as well as to ZESCO. Here, Alasdair Martin, Director, Private Customer Solutions, writes for ENN on what buyers of industrial power in Southern Africa now want from the companies that supply them.

Shell has signed an agreement to sell Shell Nigeria Gas, which runs about 170km of pipeline serving more than 130 businesses in Ogun, Abia and Rivers, to the Nigerian company Vaaris Energy. Shell keeps its deepwater and integrated gas positions in Nigeria, including its interest in Nigeria LNG.

Uganda and the African Development Bank Group will host the 11th Africa Energy Market Place in Kampala on 21 and 22 October, where government and private investors will work through how to deliver the Mission 300 compact Uganda launched at the Africa Energy Forum in June.

Olamide Niyi-Afuye, chief executive of the Africa Minigrid Developers Association, argues that a connection is the first rung of Africa’s energy ladder, and that the climb has to continue into productive use and industry, with the minigrid sector able to connect 115 million people by 2030.

Off-grid solar spent nearly a decade building the audited, standardised performance data investors needed, and in 2025 eighteen new investors arrived, local banks among them. Speaking to ENN ahead of the Global Off-Grid Solar Forum in Kigali, Laura Fortes, Finance and Investment Associate Director at GOGLA, says these deals are the first examples of a pipeline she expects to keep growing.