Shell Writes Off Namibia Oil | 01.14.2025
Your curated selection of weekly Africa business and investment headlines.
Welcome to Afrika Vantage, your insider's guide to investing and doing business on the African continent. Stay informed about the Lobito Corridor with our "Thoughts on the Corridor" section, and keep up with general business trends across Africa through "Afrika Vantage."
📋 Sign up for free here.
🤝🏻 Help us spread the word about Africa by engaging on social media and sharing and opening our emails.
Headlines
Shell Writes Down Namibia Oil Discovery in Blow to Country
🎦 Fascinating Origin of Namibia’s Caprivi Strip
Chinese Firm to Build Guinea’s Biggest Alumina Processing Plant
Mineral Processing: What Can Africa Learn from Indonesia?
📸 Africa’s Share of Critical Energy Minerals [Chart]
Cheap IDC Funding ‘Placing the Complete [SA] Steel Market at Risk’
The Capitalist Revolution Africa Needs [Economist]
Standard Bank Signs Agreement With IFC to Expand Local Currency Lending in Africa
China Finance Minister Ends Africa Tour in Nigeria
ARM Appointed Fund Manager of 1 Trillion Naira Real Estate Fund
Africa
📰 Shell Writes Down Namibia Oil Discovery in Blow to Country
Shell is writing off a $400 million oil discovery project in Namibia, citing it as commercially unviable. The oil company partnered with QatarEnergy on the offshore block in 2022. TotalEnergies is exploring another nearby block, which has fueled optimism about Nambia’s economic potential… Read More
🎦 Fascinating Origin of Namibia’s Caprivi Strip
In 1890, Germany aimed to establish a more efficient connection between its African colonies. At the time, Namibia was under German control, but reaching its East African territories required a lengthy and cumbersome voyage around Cape Town. To address this, Germany negotiated with Britain to acquire the Caprivi Strip, a narrow corridor granting access to the Zambezi River, which they envisioned as a key trade route. However, the plan was undermined by the presence of Victoria Falls—the world's largest waterfall—which rendered navigation eastward impossible. Britain, well aware of this natural barrier, strategically exchanged the Caprivi Strip for control of Zanzibar, solidifying its regional dominance.
📰 Chinese Firm to Build Guinea’s Biggest Alumina Processing Plant
China continues to run circles around its Western competitors in Africa, this time with a 1.2 million ton alumina processing facility in Guinea to open by the end of 2027. This will be Guinea’s second, the other has half the processing capacity and is owned by a Russian firm… Read More
📰 Mineral Processing: What Can Africa Learn from Indonesia?
Indonesia tripled its investment in local mineral processing between 2019 and 2022. In contrast, Africa attracted only 2.8% of the global foreign direct investment (FDI) for critical minerals processing from 2019 to 2023, despite holding 30% of the world's reserves… Read More
📸 Africa’s Share of Critical Energy Minerals [Chart]
📰 Cheap IDC Funding ‘Placing the Complete [SA] Steel Market at Risk’
The IDC’s below-market funding distorts competition by giving beneficiaries like Scaw Metals an unfair edge, not through efficiency but through subsidized pricing. This discourages private investment, fosters dependency on state support, and weakens long-term industry growth, creating significant risks for investors seeking competitive markets… Read More
📰 The Capitalist Revolution Africa Needs [Economist]
African countries have gone through disruptions without development. The Economist argues that a capitalist revolution is now required… Read More
📰 Standard Bank Signs Agreement With IFC to Expand Local Currency Lending in Africa
Standard Bank and IFC will collaborate on cross-currency swaps and derivatives, as well as benefit from each other’s market expertise to boost access to local currency financing for businesses in Africa, especially in countries where currency liquidity is challenging… Read More
📰 China Finance Minister Ends Africa Tour in Nigeria
China’s FM promised military aid in addition to enhanced investments. Are the payouts aimed at pushing Nigeria into BRICS’ arms? Trade between the two nations amounted to $22.6 billion in 2023… Read More
📰 ARM Appointed Fund Manager of 1 Trillion Naira Real Estate Fund
The Real Estate Investment Fund (“MREIF”) seeks to provide affordable, long-term mortgages and offtake guarantees to developers, accelerating the delivery of affordable housing and enhancing the sector’s contribution to Nigeria’s economy. … Read More