World
Senegal Seeks to Learn From Mistakes of Other African Countries and Reverse ‘Resource Curse’
By Kester Kenn Klomegah
Senegal has held a well-representative meeting to seek dialogue with a cross-section of civil society leaders, experts from different economic sectors and both public and private business leaders for the management of revenues from the country’s oil and gas, hydrocarbons and energy resources in the country.
Senegal, located on the West African coast, has a population of approximately 15.9 million. While the economy is mostly driven by mining, construction, tourism, fishing and agriculture, it has state revenues from the exploitation of some natural resources. These revenues largely constitute the national budget.
With the utmost ambition and desire for all Senegalese people to benefit and prosper from their country’s natural resources, President Macky Sall demonstrated his determination to implement reforms to exploit Senegal’s hydrocarbon potential. The move is to propose a framework that will mandate accountability and transparency in the management of resources to ensure that oil and gas production will be conducive and significant towards the well-being of the entire nation.
Senegal is looking towards learning from the mistakes of other African countries in an attempt to reverse the so-called “resource curse” that plagues many oil and gas producing African countries. In a further demonstration of enlisting public opinion, such a broad meeting was called to brainstorm for ideas and incorporate them into a national development programme.
“It is extremely important to remind you all today, we remain convinced that the promotion of a participatory, multi-institutional, and collaborative approach is imperative for capable governance and guaranteeing sustainable prosperity,” stated President Macky Sall of the Republic of Senegal.
Under this new legislation, the citizens of Senegal will have a seat at the table, with civil society to play a leading role in driving the discussion surrounding the monetization of the country’s oil and gas industry. This landmark act will ensure a trickle-down economy that guarantees investments within petrochemicals, agriculture, power, gas, and transportation, thus expanding the economy and facilitating the creation of many jobs for Senegalese citizens.
While the undeniable impacts of climate change continue to be taken into consideration, Senegal is driven towards eradicating energy poverty, and notes that the development of the nation should be prioritized, and this will be done through oil and gas.
Poised to catalyze Senegal’s economy, oil and gas exploration and production are at the forefront of providing efficient, low-cost energy solutions in accordance with the primary objectives of the Plan for an Emerging Senegal. Thus, with the country’s first oil production geared for 2023, President Macky Sall has put into place, the requisite systems necessary to strengthen the revenue from the exploration and production of hydrocarbons for the benefit of Senegalese civil society.
The Senegalese Presidential Council is, however, praised for the distribution and supervision of the management of revenues derived from the exploitation of hydrocarbons. It marks a significant step towards the leader’s desire for oil and gas to be conducive to the well-being of all Senegalese people. It further shows efforts to involve civil society in significant issues relating to the socio-economic growth.
Abdoulaye Wade’s decision to run for a third presidential term sparked a public backlash that led to his defeat to current President Macky Sall. His election was primarily due to support from broad-minded democratic groups. The 2016 constitutional referendum limited future presidents to two consecutive five-year terms. In February 2019, Macky Sall won his bid for re-election; his second term will end in 2024.
Reports show Senegal is committed to harnessing its oil and gas resources to drive socio-economic growth, and support a national development model – the Emerging Senegal Plan. Senegal is working collaboratively with external and regional partners to position itself as a globally competitive hydrocarbon producer. In 2021, the country saw several significant achievements regarding its top two energy projects, according to reports provided at last African Energy Week (AEW) held in Cape Town, South Africa.
As one of Africa’s leading natural gas markets, boasting over 450 billion cubic meters of reserves, Senegal is aggressively pursuing industry expansion with the aim of establishing the country as a regional gas producer and exporter.
Senegal’s National Oil Company (NOC), for instance, has been advancing the industry. With a participating interest in all upstream commercial hydrocarbon activities, the company has accelerated oil and gas exploration and production, effectively positioning Senegal as a regional gas hub and global competitor.
The company has effectively navigated the global pandemic, enhancing industry activities and introducing key investment opportunities to international stakeholders and driving a strong discussion on the role of Senegal in Africa’s energy future.
Its largest project, the Greater Tortue Ahmeyim (GTA) Liquified Natural Gas (LNG) project, is the deepest offshore project on the continent and is set to unlock approximately 15 trillion cubic feet of gas. Jointly developed by BP, Kosmos Energy, Societe des Petroles du Senegal (Petrosen), and Societe Mauritanienne des Hydrocarbures (SMHPM), with BP as the operator, the project has set a high standard for other African gas markets looking to enhance development.
Senegal enjoys mostly cordial relations with its neighbours – Guinea, Guinea-Bissau, Mauritania, Mali and The Gambia. It is a member of the Community of Sahel-Saharan States and also belongs to the 16-member regional bloc, the Economic Community of West Africa States (ECOWAS).
By Kestér Kenn Klomegâh
Africa stands at the cusp of a transformative digital revolution. With the expansion of mobile connectivity, internet penetration, digital platforms, and financial technology, the continent’s digital economy is poised to become a significant driver of sustainable development, intra-Africa trade, job creation, and economic inclusion.
The African Union’s Agenda 2063, particularly Aspiration 1 (a prosperous Africa based on inclusive growth and sustainable development), highlights the importance of leveraging technology and innovation. The implementation of the African Continental Free Trade Area (AfCFTA) has opened a new chapter in market integration, creating opportunities to unlock the full potential of the digital economy across all sectors.
Despite remarkable progress, challenges persist. These include limited digital infrastructure, disparities in digital literacy, fragmented regulatory frameworks, inadequate access to financing for tech-based enterprises, and gender gaps in digital participation. Moreover, Africa must assert its digital sovereignty, build local data ecosystems, and secure cyber-infrastructure to thrive in a rapidly changing global digital landscape.
Against this backdrop, the 16th African Union Private Sector Forum provides a timely platform to explore and shape actionable strategies for harnessing Africa’s digital economy to accelerate intra-Africa trade and sustainable development.
The 16th High-Level AU Private Sector forum is set to take place in Djibouti, from the 14 to 16 December 2025, under the theme “Harnessing Africa’s Digital Economy and Innovation for Accelerating Intra-Africa Trade and Sustainable Development”
The three-day Forum will feature high-level plenaries, expert panels, breakout sessions, and networking opportunities. Each day will spotlight a core pillar of Africa’s digital transformation journey.
Day 1: Digital Economy and Trade Integration in Africa
Focus: Leveraging digital platforms and technologies to enhance trade integration and competitiveness under AfCFTA.
Day 2: Innovation, Fintech, and the Future of African Economies
Focus: Driving economic inclusion through fintech, innovation ecosystems, and youth entrepreneurship.
Day 3: Building Policy, Regulatory Frameworks, and Partnerships for Digital Growth
Focus: Creating an enabling environment for digital innovation and infrastructure through effective policy, governance, and partnerships.
To foster strategic dialogue and action-oriented collaboration among key stakeholders in Africa’s digital ecosystem, with the goal of leveraging digital economy and innovation to boost intra-Africa trade, accelerate economic transformation, and support inclusive, sustainable development.
* Promote Digital Trade: Identify mechanisms and policy actions to enable seamless cross-border digital commerce and integration under AfCFTA.
* Foster Innovation and Fintech: Advance inclusive fintech ecosystems and support innovation-driven entrepreneurship, especially among youth and women.
* Policy and Regulatory Harmonization: Build consensus on regional and continental digital regulatory frameworks to foster trust, security, and interoperability.
* Encourage Investment and Public-Private Partnerships: Strengthen collaboration between governments, private sector, and development partners to invest in digital infrastructure, R&D, and skills development.
* Advance Digital Inclusion and Sustainability: Ensure that digital transformation contributes to environmental sustainability and the empowerment of marginalized communities.
The AU Private Sector Forum has held several forums, with key recommendations. These recommendations provide valuable insights into the challenges and opportunities facing the African private sector and offer guidance for policymakers on how to support its growth and development.
By Kestér Kenn Klomegâh
Lukoil, Russia’s energy giant, has seriously lost its grounds across Africa, due to United States sanctions. Sanctions have complicated the company’s potential continuity in operating its largest oil field projects, grappling its investment particularly in Republic of Ghana, Democratic Republic of Congo, and Federal Republic of Nigeria.
Reports indicated the sanctions are further dismantling most of Lukoil’s operations, causing significant staff layoffs in its offices worldwide. For instance, Lukoil’s significant upstream operations in the Middle East include a 75% stake in Iraq’s West Qurna 2 oilfield and a 60% stake in Iraq’s Block 10 development. In Egypt, the company holds stakes in various oilfields alongside local partners.
Lukoil has until December 13, 2025, to negotiate the sale of most of its international assets, including those in Asia, Africa and Latin America. It has already terminated several important agreements that were signed with international partners due to difficulties in circumventing the sanctions.
Reports said calculated efforts to diversify exploration business relations is turning extremely complex, and current at the cross-roads, Lukoil will have to ultimately give up existing contracts and agreements it had signed with external countries.
Lukoil’s website reports also pointed to reasons for abandoning oil and gas exploration and drilling project that it began in Sierra Leone. According to those reports, Lukoil could withdraw from almost all of the projects in West Africa.
In addition to geopolitical sanctions, technical and geographical hitches, Lukoil noted on its website, an additional obstacles that “the African leadership and government policies always pose serious problems to operations in the region.” Similarly, the Kremlin-controlled Rosneft abandoned its interest in the southern Africa oil pipeline construction, negatively impacted on Angola, Mozambique, South Africa and Zimbabwe.
United States sanctions has hit Lukoil, one of the Russia’s biggest oil companies, like many other Russian companies, that has had a long history shuttling forth and back with declaration of business intentions or mere interests in tapping into oil and gas resources in Africa.
By Kestér Kenn Klomegâh
In New Delhi, President Vladimir Putin, alongside Editor-in-Chief of Russia Today, Margarita Simonyan, took part in the launch ceremony of the RT India TV channel. The TV channel will operate from a new studio complex in New Delhi, marking a new dimension in the bilateral media sphere.
Editor-in-Chief of Russia Today, Margarita Simonyan, indicated that the collaboration, naturally, points to India’s hospitality, affirming that this endeavour was not only worthwhile but long overdue.
Vladimir Putin, officially, launching the TV studio, also emphasized that the Russia Today channel in India, RT India, grants millions of Indian citizens clearer, more direct access into insights about contemporary Russia – the realities, aspirations, and perspectives. He reiterated the existing traditional friendship, and the ties between the Indian and Russian peoples go much deeper into the past; which rests on a solid historical foundation. And at the core of relationship lies mutual interest.
Russia Today is a source of truthful and reliable information, focused on serving the interests of its viewers and listeners. Its main mission is merely to promote Russia, its culture, and its positions on domestic and international issues. Above all, Russia Today strives to convey truthful information about the country and about what is happening in the world. This is the absolute value of Russia Today.
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