World
Total Energies to Resume Natural Gas Exploration Projects in Mozambique
By Kester Kenn Klomegah
Mozambican President Filipe Nyusi and French Total Energies CEO Patrick Pouyanné witnessed, in late January, the signing and exchange of fresh additional agreements that permit prompt resumption of the natural gas exploration projects in Cabo Delgado, northern Mozambique.
The construction of the gas liquefaction plant, extracted from the seabed (about 40 kilometres offshore) is the largest currently financed private investment in Africa. But, the natural gas project was suspended in March 2021 after an armed attack that left the province devastated, with about 3,100 deaths and more than 817,000 residents displaced.
At the modest ceremony, President Nyusi expressed optimism at the steady return of peace and normalcy in the province and further underscored the fact that the goal was to restart the multibillion project that would generate state revenue and offer employment to thousands of Mozambicans.
Patrick Pouyanné said that a lot of progress has already been made and I want to congratulate the Mozambican authorities who together with Rwanda and SADC [Southern African Development Community] managed to get a lot done.
A joint military force has been fighting insurgent groups in the region. “But there is still some progress to be made in order to have sustained security. We want to see the population and villages return to their normal lives,” Pouyanné stressed.
The agreement reflects the willingness to pursue its investments in Mozambique’s energy sector in order to deploy our multi-energy strategy in the country through retailing of petroleum products for mobility, the major Mozambique LNG project and accompanying supply of domestic gas, and opportunities under review in the area of renewable energies. It aims at contributing to the country’s sustainable development and giving access to energy to as many people as possible.
The signed agreement with the Mozambican authorities will allow training for a group of 2,500 young people from Cabo Delgado, with a view to creating job opportunities arising from the ongoing investments. “The normalization of social life is part of security, it is not just a matter for the armed forces,” he said.
The Mozambican President, for instance, expressed deep satisfaction with the military for the high commitment towards peace and stability in the province. The Cabo Delgado province is rich in natural gas but has been terrorized since 2017 by armed rebels, with some attacks claimed by the Islamic State extremist group.
Since July, with the military support of the Government of Rwanda, which was later joined by the Joint Standby Force from the Southern African Development Community (SADC), has increased security, recovering several areas where there was a presence of rebels, namely the town of Mocímboa da Praia, which had been seized in August 2020.
Present in Mozambique since 1991, it operates in the Exploration & Production and Marketing & Services segments. Total Energies Marketing Moҫambique SA is a major player in the downstream petroleum products market with a nationwide gas stations network, industrial and mining customers, lubricants and logistics.
Prior to this acquisition, Total Energies Marketing Moҫambique had an estimated market share of 14 per cent. Total Energies EP Mozambique Area 1 Limitada, a wholly-owned subsidiary of Total Energies, operates Mozambique LNG with a 26.5% participating interest.
During the working, CEO Patrick Pouyanné and Rwanda Development Board, a Rwandan public institution responsible for accelerating Rwanda’s economic development, have also signed a Memorandum of Understanding (MoU) to develop collaboration on projects related to energies.
The scope of the agreement covers the energy products distribution (including LPG, and electric charging), the supply of LPG as a substitute for burning biomass, the renewable hydro-electricity generation, the development of power storage solutions for the electrical network, the development of Natural Based Solution for carbon storage, and the implementation of education and training programs on new energies and the energy transition.
Total Energies said in a media release that this collaboration agreement illustrates its commitment to deploying its multi-energy strategy in Africa, particularly in Rwanda, a country with a booming economy.
Pouyanné said, “we are pleased to seize this opportunity to work together with Rwanda and contribute to the development of its energy sector, in line with Total Energies’ ambition to become a global multi-energy company.”
“The collaboration with Total Energies in the energy sector, particularly the investment they will make in clean energy storage, distribution, partnerships with our private sector companies in Rwanda and beyond, is timely for a country that puts the environment at the heart of its development strategies,” said Clare Akamanzi, CEO of the Rwanda Development Board.
“Additionally, the skills transfer in critical areas such as renewable energies and energy transition will undoubtedly contribute to the development of local expertise in the energy sector,” concluded Akamanzi.
Total Energies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. It has approximately 105,000 employees and are committed to making energy affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, Total Energies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
World
African Graduates Association Promoting Multifaceted Initiatives With Russian Educational Institutions
By Kestér Kenn Klomegâh
In preparations for the third Russia-Africa Summit, scheduled for late October 2026, Dr Francois Ngan, deputy chairman of the Union of Associations of African Graduates of Soviet and Russian Universities, during an official working visit, has held a consultative meeting with Professor Vladimir Filippov, the President of the Russian University of Peoples’ Friendship (RUDN), and former Minister of Higher Education of Russia, Chairman of the National Commission for Accreditation of Higher Education.
RUDN is an educational institution established in 1960, primarily to provide higher education to Third World students. It has now become a popular multidisciplinary spot for many students, especially from developing countries. The university offers various academic programmes and has research infrastructure that comprises laboratories and interdisciplinary centres. The university is named after the former Congolese leader, Patrice Lumumba.
Dr Francois Ngan and Professor Filippov discussed the importance of the Graduates Association as a continental platform dedicated to strengthening unity, cooperation, and promoting shared progress among African graduates who studied in the former Soviet Union and in the Russian Federation. They also reviewed multifaceted initiatives that could bring together alumni associations from across Africa, whose members obtained education and professional training, and cultural experiences in Soviet and Russian institutions of higher learning.
Professor Filippov expressed optimism in addressing emerging challenges as a result of shifting geopolitical changes, emphasised strategic cooperation in the educational sphere with Africa, in general, and with the Republic of Cameroon, in particular, and further about the integration of African students during their studies in the Russian Federation.
The meeting also touched on academic and scientific work, the possibility of rewriting a scientific thesis, and the official organisation of transferring versions translated into six languages for the library of RUDN. Significant questions relating to Russia’s educational opportunities, collaborations and partnerships involving African countries were thoroughly discussed.
The Union of Associations of African Graduates of Soviet and Russian Universities was created under one continental umbrella to promote friendship, for professional networking, to engage in cultural exchange, and with particular emphasis on forging strategic cooperation between Africa and Russia.
