Countries across Africa accelerated plans to boost their energy independence as the Iran war galvanized efforts across the continent to reduce reliance on imported fuels.
Senegal is courting $7.5 billion in investment to develop a major gas field discovered around a decade ago that could help ease the country’s costly energy subsidies.
Morocco and Nigeria, meanwhile, have vowed to jointly develop a $25 billion pipeline.
While some African countries are major oil and gas producers, the continent imports the vast majority of its fuels, leaving it badly exposed to foreign energy shocks. In response, Africa’s richest man has vowed to upgrade the continent’s refining capacity.
