Minister of Petroleum and Mineral Resources, Karim Badawi, highlighted the government’s proactive efforts over the past eight months to stimulate investment in the oil and gas sector. These initiatives have significantly expedited drilling and production operations, leading to a substantial reduction in import costs—saving Egypt $1.5 billion in just six months.

The Suez Canal Economic Zone (SCZone), led by Chairman Walid Gamal El-Din, has signed an agreement with Yasser Ayoub, Chairman of Industrial House for Building Materials, to establish a new gypsum products factory in Wadi Al-Tecnology, east of Ismailia in Sinai.

Nigeria is attracting increasing international attention for its vast lithium reserves, a critical mineral in the global push for clean energy technologies such as electric vehicles (EVs) and solar panels.

The investment will support ONCF’s transition to electric, improve energy efficiency and lower greenhouse gas emissions, as well as promoting the broader shift to a more environmentally friendly form of transport.

Badawi also spoke of plans to ensure fuel supplies, settle dues to partners, and collaborate with Parliament to streamline agreements. Egypt hosts 57 companies in exploration, production, and related services, including major international players and global service providers

Morocco has allocated close to 18,000 hectares of public land for development projects in 2024. Speaking at the House of Councillors on Tuesday, Economy and Finance Minister Nadia Fettah announced that this initiative is set to facilitate 152 projects with a combined value of nearly MAD 19 billion ($1.0 billion). 

Egypt has secured a $40 million loan from the OPEC Fund for International Development to support the development of two wind farms in the Gulf of Suez, which will collectively generate 1.1 GW of clean energy. Spearheaded by Hassan Allam Utilities and Saudi Arabia’s ACWA Power, the project is set to become the largest onshore wind energy initiative in the Middle East.

Head of Government Aziz Akhannouch chaired today the sixth session of the National Investment Commission in Rabat, approving 56 investment projects valued at MAD 134 billion ($13.4 billion).

The World Bank and other financial institutions are engaged in discussions about funding a mega hydro-power project in the Democratic Republic of Congo that has the potential of supplying electricity across the entire African continent.