A new Oxfam report released today says up to $41 billion in World Bank climate finance is unaccounted for due to poor record-keeping practices.

The report comes ahead of the World Bank and International Monetary Fund Annual meetings in Washington.

Thami Ngubeni spoke to Oxfam in Africa's David Abudho.

A new Oxfam report released today says up to $41 billion in World Bank climate finance is unaccounted for due to poor record-keeping practices.
The report comes ahead of the World Bank and International Monetary Fund Annual meetings in Washington.
Thami Ngubeni spoke to Oxfam in Africa's David Abudho.

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In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

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Oxfam finds $41 billion in World Bank climate finance unaccounted for

As the Southern Africa Oil and Gas Conference draws to a close, South Africa’s Deputy Minister of Mineral and Petroleum Resources, Phumzile Mgcina, says one of the biggest challenges facing the country’s petroleum sector is persistent opposition from environmental lobby groups, which she argues continues to hinder oil and gas development initiatives.

The conference brought together industry leaders, policymakers and investors to discuss the region’s energy future and explore opportunities within Southern Africa’s oil and gas sector, including investment prospects, regulatory reforms and the role of hydrocarbons in the energy transition.

Channel Africa’s Economics Reporter, Innocent Semosa, has more.

As the Southern Africa Oil and Gas Conference draws to a close, South Africa&rsquo;s Deputy Minister of Mineral and Petroleum Resources, Phumzile Mgcina, says one of the biggest challenges facing the country&rsquo;s petroleum sector is persistent opposition from environmental lobby groups, which she argues continues to hinder oil and gas development initiatives.
The conference brought together industry leaders, policymakers and investors to discuss the region&rsquo;s energy future and explore opportunities within Southern Africa&rsquo;s oil and gas sector, including investment prospects, regulatory reforms and the role of hydrocarbons in the energy transition.
Channel Africa&rsquo;s Economics Reporter, Innocent Semosa, has more.

Environmental lobby groups highlighted as major challenge to South Africa’s petroleum sector

The ongoing conflict in the Middle East has triggered a sharp energy crisis in Nigeria, with fuel prices surging by approximately 47% over just six weeks as global oil prices climbed above $100 per barrel.

In response, the Dangote Refinery, with a production capacity of around 650 000 barrels per day,  is ramping up output and prioritising domestic supply in an effort to avert looming fuel shortages.

Meanwhile, some analysts are urging the Nigerian government to channel any anticipated windfall from higher oil prices into measures that ease the burden on households and businesses, warning that escalating fuel costs are already worsening economic hardship across the country.


Thami Ngubeni spoke to Channel Africa’s Correspondent in Nigeria, Jonathan James Lyangohn.

The ongoing conflict in the Middle East has triggered a sharp energy crisis in Nigeria, with fuel prices surging by approximately 47% over just six weeks as global oil prices climbed above $100 per barrel.
In response, the Dangote Refinery, with a production capacity of around 650 000 barrels per day,&nbsp; is ramping up output and prioritising domestic supply in an effort to avert looming fuel shortages.
Meanwhile, some analysts are urging the Nigerian government to channel any anticipated windfall from higher oil prices into measures that ease the burden on households and businesses, warning that escalating fuel costs are already worsening economic hardship across the country.
 Thami Ngubeni spoke to Channel Africa&rsquo;s Correspondent in Nigeria, Jonathan James Lyangohn.

Dangote Refinery ramps up production to avert fuel shortages caused by Israel/US–Iran conflict

Transport systems are increasingly being recognised as a key driver of economic growth, job creation and social inclusion, particularly in developing economies.

At the inaugural National Transport Conference, underway at the Gallagher Convention Centre in Midrand, north of Johannesburg, industry leaders and global experts are sharing insights on how countries can leverage transport infrastructure to unlock opportunity and build more sustainable economies.

Our reporter, Lebogang Mabange, has more.

Transport systems are increasingly being recognised as a key driver of economic growth, job creation and social inclusion, particularly in developing economies.
At the inaugural National Transport Conference, underway at the Gallagher Convention Centre in Midrand, north of Johannesburg, industry leaders and global experts are sharing insights on how countries can leverage transport infrastructure to unlock opportunity and build more sustainable economies.
Our reporter, Lebogang Mabange, has more.

Oxfam finds $41 billion in World Bank climate finance unaccounted for

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