Energy major Eni continues to deliver on its exploration drive in Africa, announcing two major hydrocarbon discoveries in February 2026. In Ivory Coast, the company successfully drilled the Murene South-1X well in Block CI-501, confirming the Calao South discovery within the prolific Calao channel complex. Through its Angolan joint venture Azule Energy, the company also announced the Algaita-01 well in Block 15/06 – situated in the prolific Lower Congo Basin. Together, these milestones reflect a deliberate dual-track strategy for the company: opening new hydrocarbon frontiers while strengthening production capacity across Africa’s established markets. 

As the voice of the African energy sector, the African Energy Chamber (AEC) commends Eni for its sustained commitment to African exploration. Large-scale discoveries in Ivory Coast and Angola are not only commercial wins – they are strategic victories for the continent. For emerging producers such as Ivory Coast, discoveries of this scale fast-track energy independence and domestic gas-to-power expansion. For mature producers such as Angola, they underpin production stability and fiscal resilience at a time when global capital is increasingly selective. As the company advances appraisal, testing and development planning, these discoveries have the potential to catalyze a new wave of upstream momentum across Africa’s hydrocarbon market.

At a high-level side event during the 2026 African Union Summit, Executive Secretary of the United Nations Economic Commission for Africa, Claver Gatete, called on African leaders to anchor health financing within broader fiscal and economic reforms, describing health as central to the continent’s sovereignty.

Speaking under the theme “From Commitment to Action: Accelerating Health Financing, Partnerships and Delivery at Scale,” Gatete said the global system is shifting from hyper-globalisation to “strategic resilience,” where countries prioritise critical sectors such as food, energy and health.

He noted that development assistance for health has dropped sharply from about US$80 billion in 2021 to US$39 billion in 2025, exposing Africa’s dependence on external funding and imported medical supplies. Although the continent spends an estimated US$145 billion annually on health, less than half comes from public budgets, leaving households to shoulder high out-of-pocket costs.

Gatete outlined four priorities: integrating health into medium-term fiscal frameworks, boosting domestic resource mobilisation, expanding pharmaceutical manufacturing through the African Continental Free Trade Area, and strengthening health systems. He stressed that achieving health sovereignty is key to securing Africa’s economic future.   (ECA)

The 9th Africa Business Forum organized by the United Nations Economic Commission for Africa, opened in Addis Ababa, Monday, with resounding calls for investments in Africa’s ongoing transformation. Held in the iconic Africa Hall, heads of state, captains of industry and young entrepreneurs from across the continent gathered on the theme, Financing Africa’s Future, against the backdrop of mounting global uncertainty with slowing growth, climate shocks, rising debt, and shifting supply chains. 

Executive Secretary Claver Gatete noted that as global capital becomes more selective and concentrated, scale, security and future markets are assured. “The question is not whether capital exists,” he stressed. “The real question is: where will the next engines of global growth emerge?”

With the world’s youngest workforce, accelerating urbanization, rapid digital adoption and expanding consumer markets, the continent is already undergoing a structural transformation anchored in the African Continental Free Trade Area (AfCFTA), which is creating a single market of over 1.5 billion people. Furthermore, from youth-led cocoa processing in Côte d’Ivoire, an integrated automotive value chain in Morocco, to Ethiopia’s expanding digital payments ecosystem, as evidence that Africa is beginning to export value, not just raw commodities. (ECA)

Sidi Ould Tah, President of the African Development Bank Group, convened a pivotal high-level working session, on 15 February, with the heads of Africa’s Regional Economic Communities (RECs) on the margins of the 39th African Union (AU) Summit in Addis Ababa.

The session focused on the New African Financial Architecture (NAFA), a home-grown, transformative framework aimed at mobilising large-scale domestic capital, strengthening financial sovereignty, and addressing the continent’s persistent development financing gap.

It brought together Chief Executive Officers from the AU-recognised RECs, namely the Arab Maghreb Union, Common Market for Eastern and Southern Africa, Community of Sahel-Saharan States, Economic Community of Central African States, Economic Community of West African States, the Intergovernmental Authority on Development, and Southern Africa Development Community — alongside the Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat.

In his opening remarks, Ould Tah stressed the need to urgently close Africa’s development financing gap by moving beyond fragmented systems toward a coordinated architecture that will unlock Africa’s capital power, rebuild financial sovereignty, support jobs for youth and scale transformative infrastructure investments while promoting industrialisation.

“NAFA is not just a financial plan. It is a blueprint for Africa’s economic transformation.  It points to a future where Africa finances its development on its terms, through collaboration, coherence, and leadership,” Ould Tah said.

As a vital pillar of Ould Tah’s “Four Cardinal Points” strategic vision, NAFA serves as the primary engine for reforming Africa’s financial systems and amplifying its unified voice in the global arena. This meeting marks a decisive step in aligning regional priorities with a locally anchored financial model to drive sustainable growth and resilience across the continent.