| Welcome to Next Africa, a twice-weekly newsletter on where the continent stands now — and where it’s headed. Sign up here to have it delivered to your email. A stretch of tropical coastline lined with coconut trees in northern Mozambique was supposed to house $110 billion of investments, with its bountiful natural-gas resources generating $500 billion in state revenue by 2045. The projects haven’t gone as planned for one of the world’s poorest countries.
An Islamic State-linked insurgency has instead brought horrific violence to the region, halting the biggest developments since 2021.  A satellite view of the TotalEnergies gas project. Source: Gallo Images/Getty Images Now, Mozambican President Daniel Chapo is urging a group that TotalEnergies leads to restart a $20 billion liquefied natural gas facility, once touted as Africa’s biggest private investment.
The trouble is, the militants have continued their attacks in the Cabo Delgado region. There was intensified fighting in June, with Islamic State claiming what would be among the deadliest single assaults to date on security forces.
Chapo stresses that security has much improved since the spiraling violence prompted Total to evacuate all workers more than four years ago. The area will never be “heaven,” but it’s stable enough for the company to return, he told Bloomberg in an interview this week. Chapo wants the project to resume as soon as possible, saying his government, Rwandan troops and private companies will have to collectively ensure its safety.
It’s easy to understand the urgency.
 Chapo at an election rally in Machava in October. Photographer: Marco Longari/AFP/Getty Images With the government struggling to pay its bills after an unprecedented wave of protests against Chapo’s October election victory wrecked the economy, his government needs all the revenue it can get.
Debt repayments of hundreds of millions of dollars are drawing near, and the state is already talking about restructuring its obligations. Income from the gas would ease the pressure. Total CEO Patrick Pouyanne has suggested a restart could be imminent.
After repeated false starts, Mozambique’s creditors are watching closely to see if Pouyanne acts on Chapo’s optimism. — Matthew Hill Key stories and opinion:
Mozambique President Urges Total LNG Restart Despite Risks
TotalEnergies Says It Can Get Mozambique LNG Running by 2029
Fuel Pumps Run Dry in Mozambique Capital as Dollar Deficit Bites
Mozambique Is Gripped by Worst Turmoil Since 1990s: QuickTake
Southern Africa’s Leaders Have Failed Mozambique: Justice Malala In memoriam: David Mabuza, who shrugged off a succession of graft scandals to become South Africa’s deputy president, has died. He was 64. Mineral smuggling from eastern Democratic Republic of Congo into neighboring Rwanda has reached “unprecedented levels” amid the occupation of a large swath of the region by Kigali-backed M23 rebels, United Nations experts said. The illegal trade has jeopardized tin, tantalum and tungsten exports from the region. Rwanda’s army played a critical role in M23’s expansion and occupation of new territories, which culminated this year with the taking of eastern Congo’s two main cities, according to the UN report. In this week’s Next Africa podcast, reporter Michael Kavanagh joins Jennifer Zabasajja to discuss a US-sponsored peace deal between the two African countries.  An artisanal miner at the Shabara cobalt operation near Kolwezi in eastern Congo. Photographer: Junior Kannah/AFP/Getty Images African ride-hailing startup Moove is close to raising $1.2 billion in a debt round that will help it finance a rollout of an autonomous-driving fleet with Alphabet’s Waymo, sources say. Founded in Nigeria and backed by Uber, the firm’s next step will be rolling out its first autonomous fleet in the US, which it will own and manage. Moove operates in more than a dozen markets, including the United Arab Emirates, Mexico and India. It has one of the largest ride-hailing fleets, with 38,000 cars on its platform. Nigeria’s main opposition parties agreed to unite to contest 2027 elections under the banner of the African Democratic Congress, and appointed two interim leaders to steer preparations for the campaign. If the party can reach a consensus on a presidential candidate, its flagbearer will be in a strong position to unseat incumbent Bola Tinubu, who has been endorsed to run for a second term. Meanwhile, the IMF says Nigerian economic reforms have improved investor sentiment, but the nation’s finances are being hurt by lower oil prices that will widen its budget gap this year.  WATCH: Nigerian Bureau Chief Anthony Osae-Brown spoke with Lizzy Burden on about the nation’s economic challenges on Bloomberg TV. Zimbabwe’s ruling party added sanctioned tycoon Kudakwashe Tagwirei to its highest decision-making body, a move that could further strain relations with the US and other Western nations. Tagwirei, a one-time adviser to President Emmerson Mnangagwa with interests ranging from mining to fuel trading, has been implicated in alleged corruption by the US and the UK. He denies wrongdoing. Separately, Zimbabwe suffered a countrywide blackout on Thursday due to a system failure that cut output from two power stations. Ever since BRICS was founded more than a decade ago, the group of emerging-market nations has struggled to identify a common purpose. President Donald Trump’s tariffs may have solved that problem. Leaders from the group that includes South Africa, Egypt and Ethiopia meet in Brazil this weekend and are expected to sign a joint statement decrying “the rise of unjustified unilateral protectionist measures.” Here’s what you need to know about the bloc that’s grown to 10 full-member states and several partner countries.  The 2024 BRICS summit, hosted by Russian President Vladimir Putin. Photographer: Maxim Shemetov/Getty Images A divided US Supreme Court ruled that the Trump administration can send eight migrants to South Sudan, rejecting a judge’s interpretation of a recent high court decision. The order comes even as lawyers for the men, now being held at a US military base in Djibouti, say they are at risk of torture and death. Only one of the men in the case is from South Sudan. The rest are from Mexico, Cuba, Myanmar and other countries. Next Africa Quiz — In which African country are lawmakers considering legislation to nationalize the central bank? Send your answers to gbell16@bloomberg.net Data Watch - Ethiopia agreed a memorandum of understanding to restructure its loans with official creditors, formalizing a debt-treatment plan offering relief for more than $3.5 billion.
- Ghana’s real interest rate is the highest in the world, giving the central bank scope to deliver a sizable cut in borrowing costs this month. The policy rate is at 28%, while inflation slowed to a more than three-year low of 13.7% in June.
- Kenya’s first-quarter economic output eased more than expected, weighed down by its tourism and manufacturing sector.
- Angola raised its diesel price by 33%, the third increase this year, as authorities press ahead with fuel-subsidy cuts.
Coming Up - July 7 South Africa reserves data for June, Mauritius reserves & inflation data, Tunisia and Sychelles inflation for June
- July 8 Tanzania inflation data for June
- July 9 Trump hosts a summit with leaders from West African nations, Indian Prime Minister Narendra Modi is due to visit Namibia
- July 10 Egypt interest-rate decision, June inflation for Rwanda and Senegal, South Africa manufacturing data for May
- July 11 Angola June inflation, Bloomberg’s South Africa monthly economic survey
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