Africa Business News – Energy, Power & Growth

If you want to know what’s moving the African economy, the business section is where the action is. From big oil projects to renewable power plants, every story shapes jobs, prices and opportunities for investors. Below you’ll find the most relevant updates that matter right now.

Top Stories You Shouldn’t Miss

BUA Group clarifies refinery progress in Akwa Ibom. The company recently addressed rumors that its $3.8 billion refinery was 90 percent complete. In reality, the project is still under construction, with significant work already done but more milestones to hit before delivery. The refinery aims to boost Nigeria’s refining capacity, cut fuel imports and create thousands of jobs. BUA’s update shows a realistic timeline, reassuring investors that the project is on track, even if it isn’t near final completion yet.

KenGen posts a 35 percent profit jump and doubles its dividend. Kenya’s electricity generator reported earnings of KSh7 billion, thanks largely to strong geothermal output. The profit surge allowed the company to double dividend payouts for both private and government shareholders. The move signals confidence in Kenya’s renewable energy strategy and highlights how clean power can drive solid financial returns. For anyone watching green energy in Africa, KenGen’s performance is a clear sign of where the market is heading.

Why These Stories Matter for Africa’s Economy

Both headlines point to a common theme: energy is the engine of growth. When a refinery like BUA’s comes online, it reduces reliance on imported fuel, stabilises local prices and fuels industrial activity. On the other side, KenGen’s success shows that renewable sources such as geothermal can deliver reliable power and solid profits at the same time. Together, they illustrate how Africa is diversifying its energy mix while keeping an eye on economic returns.

Investors are watching these developments closely. A functional refinery means more petro‑products for local manufacturers, which can lower production costs and boost export potential. Likewise, a profitable renewable utility attracts capital for further expansion, creating a virtuous cycle of more clean projects and stronger financial performance.

For businesses across the continent, reliable power translates into fewer production halts, lower operating costs and better planning. It also opens doors for new industries that depend on stable electricity, such as tech start‑ups, agro‑processing plants and manufacturing hubs. In short, each megawatt of dependable power adds a layer of security for entrepreneurs and larger corporations alike.

Governments are also taking note. Policy makers see the success of projects like KenGen’s as a blueprint for future renewable investments, while BUA’s refinery underscores the need for strategic public‑private partnerships in the oil sector. When the public sector aligns regulations, incentives and infrastructure with private ambition, the entire ecosystem benefits.

So what should you keep an eye on? First, the timelines for BUA’s refinery – any delay or acceleration will ripple through fuel markets and related industries. Second, KenGen’s next expansion plans – new geothermal sites or solar farms could shift the regional power balance and open up fresh investment windows.

Staying updated on these stories helps you make smarter decisions, whether you’re investing, running a company, or just following the African economy. Keep checking the Business category for the latest headlines, analyses and what they mean for your interests.