Several African countries rely heavily on oil and gas exports, yet the continent, contributing only about 3% of global CO2 emissions, is severely impacted by climate change. The episode of Business Africa explores the role of fossil fuels in African economies. South Africa has begun decarbonizing its economy with an $8 billion loan for energy transition, leading to frequent power outages. NJ Auk JD, Director General of the African Energy Chamber, emphasizes the importance of natural gas for Africa's energy transition. Gabon presented a strategic plan at the Crans Montana Forum to attract foreign investments, aiming to recover from the COVID-19 crisis and boost its oil and gas revenues while advancing digital transition and job creation. Ghana is renewing its colonial-era railway network, with a new 299 km line forming a strategic corridor for economic development.

As Africa grapples with the global climate emergency, the continent faces the challenge of pursuing economic development without heavy reliance on fossil fuels. Despite contributing minimally to global CO2 emissions, African countries like South Africa are leading decarbonization efforts, though power cuts pose challenges. NJ Ayuk JD of the African Chamber of Energies emphasizes the need for natural gas in the energy transition. Gabon aims to attract foreign investment to boost oil and gas revenues while advancing its digital transition. Ghana is revitalizing its railway network to enhance trade and economic development.

Vodacom is introducing innovative technological solutions to enhance mining operations in the Democratic Republic of Congo (DRC). At the Mining Week event, Vodacom showcased products like Umoja, an employee self-service system developed in partnership with Glencore and Standard Bank, and M-Pesa, which facilitates financial inclusion in remote areas. Vodacom aims to contribute to the local economy and improve the lives of the Congolese people despite challenges such as the energy deficit.

The mining industry is increasingly adopting technological innovations across various operations, from exploration to mineral processing. In the Democratic Republic of the Congo, Vodacom, a leading mobile service provider, showcased its technological solutions at the 8th Mining Week, including the Umoja system developed in partnership with Glencore and Standard Bank. This system enhances communication and efficiency for mining employees. Additionally, the article touches on Sierra Leone's economic struggles and Tanzania's efforts to transform its agricultural sector.

Since April 15, 2023, Sudan has been experiencing intense conflict leading to a halted economy, a collapsed financial system, and soaring food and transport prices. Sudan's oil production has drastically decreased from 500,000 barrels per day in 2008 to 60,000 barrels per day, exacerbated by South Sudan's independence in 2011 and decades of corruption under Omar El Béchir's rule. The power-sharing between generals Abdel Fattah Al Burhan and Hamdane Daglo has deterred international support following the 2021 coup. Peter Biar Ajak from Harvard Kennedy School suggests that a ceasefire is necessary without legitimizing the generals, who are seen as warlords clinging to power. He advocates for a civilian transfer of power and long-avoided reforms. Additionally, the article touches on the revision of Sino-Congolese cooperation and efforts in Benin to produce ecological charcoal to combat deforestation and climate change.

Sudan's economy has collapsed due to ongoing conflict since April 2023, compounded by historical issues like reduced oil production and political instability under Omar al-Bashir. The power struggle between generals Abdel Fattah Al Burhan and Hamdane Daglo has further deteriorated the situation. Peter Biar Ajak from Harvard Kennedy School suggests that achieving a ceasefire and transferring power to civilians is crucial for economic recovery and implementing long-avoided reforms.

Africa faces significant challenges in green industrialisation due to climate change impacts and difficulties in raising green funds, despite existing mechanisms. Economist Georges Vivien Hougbonon suggests that banks and investment funds can play a crucial role in mobilising these funds. The Economic Commission for Africa highlights the continent's underperformance in the carbon credit market and green bonds. Additionally, the Reserve Bank of Zimbabwe's introduction of a gold-backed crypto-currency to address inflation and liquidity issues is met with skepticism from the International Monetary Fund.

Africa can advance its digital transformation by expanding access to broadband at a lower cost. The World Bank estimates that $100 billion is needed by 2030 to ensure continent-wide high-speed internet access and an additional half-million kilometers of fiber to cover Africa. Funding disparities for startups exist, with challenges including access to mentor networks and a lack of confidence in women-led startups. In Burundi, agriculture and livestock are vital to the economy, and Cédric Niyongabo is innovating with hydroponic fodder to enhance his farming operations.

Africa faces challenges in reducing internet costs and achieving digital transformation, requiring $100 billion by 2030 for high-speed access and additional infrastructure. Disparities in startup financing persist, with issues such as limited mentor networks and biases against women-led startups. In Burundi, agriculture and livestock are vital, with innovations like hydroponic fodder by Cedric Niyongabo enhancing production.

Intra-African trade accounts for only 17% of the continent's exchanges, with the African Union advocating for pan-Africanization to strengthen regional integration. The 5th UN Conference on Least Developed Countries highlighted financing for SMEs as crucial, especially in sub-Saharan Africa where women, who produce up to 70% of food, face significant gender inequalities impacting earnings. The Afcfta and Rwanda have signed an agreement to establish a $10 billion fund to facilitate trade within the free trade zone, with insights from Gérard Amoi Amangoua, managing Director of NAG in Côte d'Ivoire.

South Sudan, with the third largest oil reserves in sub-Saharan Africa, is facing economic challenges with over 7 million people reliant on humanitarian aid. Corruption and instability have led to the country benefiting from only a fraction of its oil production. Dr. Peter Biar Ajak from the Belfer Center for Science and International Affairs at Harvard University provides insights on the situation.

Global growth is projected to be weak in 2023, not exceeding 2% according to the IMF, affecting Africa's economic outlook. Economists recommend that African states diversify their economies, focusing on agriculture and industrialization to reduce reliance on external markets. In Togo, the minimum wage has increased to support the poorest classes. Morocco's argan oil sector has seen significant growth, with plans to double production and modernize the industry.

Burkina Faso's mining sector, a significant contributor to the national economy, is severely impacted by terrorism, leading to suspended operations and endangering thousands of jobs and revenues. The Africa Financial Industry Summit in Lomé aimed to strengthen the continent's financial sector. In Kenya, the village of Tabaka faces economic challenges due to reduced tourism and reliance on intermediaries.

The average inflation rate in Africa is projected to reach 13.5% this year, with 20 countries nearing excessive debt levels. Sub-Saharan Africa's debt is approximately 60% of GDP, and 40% of countries in the region face double-digit inflation, driven by the high cost of essential imported food items. Experts urge states to enhance revenue measures to address these economic challenges. In Nigeria, the business environment is hindered by inadequate reforms and infrastructure, affecting growth. Meanwhile, Rwanda focuses on digitalization, with significant progress in internet connectivity but large areas still lacking network coverage.

Malawi faces a severe foreign exchange crisis and inflation exceeding 13% in May, compounded by the devaluation of the Kwacha. Despite being a top exporter of Burley tobacco, the country struggles to maintain sufficient foreign currency reserves and needs $1 billion annually for essential imports. Efforts to diversify exports into tea, sugar, and soybean have not yet resolved the issue. Professor Sir Betchani Tchereni from the Malawi University of Business and Applied Sciences provides insights into the crisis. Additionally, the article touches on the cashew business in Senegal and sustainable tourism efforts in Comoros.

African countries express dissatisfaction with global credit rating agencies, accusing them of exaggerating investment risks based on subjective factors. In response, African Union chairperson Macky Sall advocates for the establishment of an African credit rating agency. Meanwhile, the Republic of the Congo aims to enhance its business environment, and Nigeria introduces new regulations for the digital asset market amid widespread cryptocurrency usage.

Sub-Saharan Africa's economic growth in the third quarter of 2021 exceeded expectations despite the challenges posed by Covid-19 and conflicts. Benin experienced a significant economic boom with a 7.2% growth rate in 2021, attributed to various factors. Uganda's tourism sector thrived during the Covid lockdowns, contributing to a reduction in the unemployment rate. However, the International Monetary Fund's report on economic prospects for 2022 indicates potential challenges, including a looming food crisis.

African governments are intensifying efforts to mitigate the impact of the Russia-Ukraine crisis on their economies, with significant reliance on wheat imports from these countries. Ghana is advancing its digital economy to enhance revenue mobilization and address financial exclusion, while Burundi's coffee sector struggles with low production and discontent among growers.

The Russia-Ukraine conflict has led to soaring global prices for commodities like wheat, sunflower, and crude oil, affecting African economies that trade with Russia. Maghreb countries, heavily reliant on Russian and Ukrainian wheat imports, face supply shortages. Sub-Saharan exports of coffee, tea, and citrus fruits to Russia could decrease. Conversely, Algeria may benefit as Europe's third-largest gas supplier. Rwanda's agricultural export earnings grew by 39% in 2021, attributed to post-COVID economic recovery.

Between 2014 and 2020, the European Union invested €74 million in establishing a continental free trade area in Africa, aiming to restore its position as a key partner. However, emerging powers have outpaced Europe due to complex financing procedures, necessitating a redesign of the Africa-Europe partnership. The upcoming EU-AU summit will address economic resolutions, including strengthening nutrition and food security in Africa by investing in agri-food systems and mega projects. Additionally, Tanzania and Burundi plan to build a railway line linking Dar es Salaam to other countries, with financing expected to be under $900 million.

Major African firms, including Ethiopian Airlines, are investing in the continent's aviation sector to revive it, with Ethiopian Airlines holding shares in Chadia Airways and Mozambique Airlines. A South African company recently signed a $25 million memorandum to restore Ecair, the national airline of the Republic of Congo. Meanwhile, Mali faces a severe financial crisis due to economic and diplomatic sanctions by ECOWAS, leading to soaring prices and fuel costs. In Mauritius, the exploration of its exclusive economic zone for oil is set to begin in two years, despite strong opposition from environmental activists.

The recent attack by the Allied Democratic Forces in Ituri province, resulting in at least 50 deaths, has highlighted the shortcomings of President Felix Tshisekedi's security strategy in the Democratic Republic of Congo. Despite the military rule imposed in the eastern regions and the replacement of civilian administrators with army governors, armed groups continue to launch deadly raids. Military officials, including Lieutenant-General Jonny Luboya and Defence Minister Gilbert Kabanda, remain optimistic about restoring order, but critics like Nobel Peace Prize winner Denis Mukwege demand accountability and justice for the ongoing violence.

Senegal's government faces criticism for purchasing a $110 million Airbus A320 neo for President Macky Sall amid an economic and social crisis exacerbated by the pandemic. Finance Minister Abdoulaye Daouda Diallo disclosed the cost under pressure, while government spokesman Oumar Guèye defended the expenditure as necessary to replace the aging A319. The decision has sparked widespread debate on social media, with many arguing that funds should be directed towards hospitals and schools instead.

Political tensions in Chad continue to rise following the death of President Idriss Deby Itno. Attorney Max Loalngar, head of the Coordination des Actions Citoyennes du Tchad, calls for continued protests against the Transitional Military Council (CMT), which he deems illegal and ineffective. Despite the formation of a transitional government, Loalngar insists that civil society must defend the general interest and well-being of the population. He criticizes opposition members like Saleh Kebzabo for joining the CMT and expresses skepticism about any positive actions from General Mahamat Idriss Deby.

Ivory Coast has made significant strides in its energy sector, achieving a leap from 34% to 94% national coverage through privatization and a balanced institutional framework involving both state and private actors. The country aims to cover 99% of its population by 2035 and produce 42% renewable energy. Ahmadou Bakayoko, Director-General of the Ivorian Electricity Company, attributes this success to effective rural electrification programs and competitive pricing. Additionally, the banking sector is undergoing a digital transformation with banks like Standard Chartered and the National Investment Bank offering online account services to increase banking rates among the youth.

The Ivorian government aims to make tourism a significant part of the economy by 2025, as stated by the Minister of Tourism, Siandou Fofana. In Uganda, new silk producers are emerging, potentially reducing the country's dependence on coffee. Meanwhile, in Libya, co-working spaces are becoming popular among young entrepreneurs, fostering creativity and the growth of start-ups.

In Kinshasa, significant political shifts occurred as Prime Minister Sylvestre Ilunga resigned following a no-confidence vote, marking President Felix Tshisekedi's decisive break from former leader Joseph Kabila's Common Front for Congo (FCC) party. Tshisekedi, who has accused Kabila's allies of obstructing his reform agenda, ended the coalition with the FCC in December and is now determined to assert his leadership. Analyst Trésor Kibangula highlights the shift in power dynamics between Tshisekedi and Kabila.

A bill was adopted in May 2020 to transition from the CFA franc to the Eco and end the centralization of West African states' foreign exchange reserves with the French Treasury. However, no official plan has been implemented. The Eco's creation is seen by some as a political move to address calls for ending French colonial remnants. Ivorian economist Youssouf Carius, Founder and Director of Pulsar Partners, discusses why the Eco has not been launched. The episode also explores the strongest currencies in Africa and the impact of South Africa's alcohol sales ban on bar managers in Johannesburg amid efforts to curb Covid-19.

The Blue-Bay Marine Park in Mauritius, closed to the public following the MV Wakashio oil spill, has reopened after extensive cleanup efforts. The National Crisis Committee has lifted restrictions on several popular beaches, though fishing remains prohibited. The oil spill, described by Prime Minister Pravind Jugnauth as the worst environmental disaster in the country's history, prompted international aid to address the ecological damage. Concerns persist about the long-term impact on local ecosystems, including mangroves and coral reefs, and the government continues to deny any link between the spill and the stranding of dolphins on the island's east coast.

Lesotho has recorded its first case of coronavirus a week after lifting its lockdown.

The heads of state present in Brazzaville signed the protocol establishing the Congo Basin Climate Commission. The operationalization of the blue fund, the financial tool of the commission, has advanced with the first summit of heads of state held on April 29 in Brazzaville. A ministerial segment on April 27 preceded the summit, where the third conference of ministers from Central, East Africa, and Morocco validated a roadmap addressing the climate issues of the Congo Basin countries, followed by a prefiguration study aimed at convincing investors.

Dominique, a 10-month-old girl from Côte d'Ivoire born with four legs and two spinal columns, has returned to her country after undergoing successful surgery in a Chicago hospital on March 8. The rare condition is a result of twins not fully separating during development. Dominique spent two months in the U.S. for the operation, which involved a team of fifty doctors and careful procedures to avoid damaging her spinal cord and urinary functions. She returned home in time for her birthday in May.

A new political opposition coalition named 'Ensemble pour la démocratie et la souveraineté' has been formed in Côte d'Ivoire, led by former minister Georges Armand Ouégnin. The coalition, which includes former political party members, civil society organizations, and unions, aims to secure the release of political prisoners and advocate for press freedom. It also seeks to regain state power in the 2020 elections through transparent processes and is open to dialogue with current authorities. The coalition positions itself as a successor to previous unsuccessful platforms.