Afreximbank and the African Petroleum Producers' Organization formally established the Africa Energy Bank at its inaugural general meeting in Abuja on 31 Oct, according to OilPrice.com. The bank, which will finance oil and gas projects across Africa, was officially launched this week, Climate Home News reports. Its founders say oil and gas remain vital to Africa's energy systems. The bank has $5 billion in authorized capital, with about $500 million mobilized so far. Its creation came more than four years after work began and about 20 months behind schedule.
Algeria
3 stories since 29 October 2026, newest first
4 November 2026
2 November 2026
The UN peacekeeping mission MINURSO ceased operations on 1 Nov 2026 after the Security Council did not renew its mandate at a 30 Oct meeting. The force had operated for 35 years since its 1991 launch, monitoring a ceasefire. Russia vetoed a U.S. draft that would have backed Morocco's autonomy plan under its sovereignty, and a rival Russian resolution to extend the mission was defeated. Morocco's royal palace welcomed the outcome, while the Algeria-backed Polisario Front called it unacceptable. A smaller team is handling the liquidation of assets.
29 October 2026
Russian President Vladimir Putin opened the third Russia-Africa Summit in Moscow on Wednesday 28 Oct, telling African leaders that Russia is a natural ally and accusing the West of exploiting the continent's resources and using debt to slow growth. Delegations from 48 countries attended, including 22 heads of state. Burundian President Evariste Ndayishimiye, current African Union chair, co-chairs the two-day meeting. Putin said Russian firms want manufacturing plants in Africa to bypass Western sanctions, and cited 2025 trade of $27 billion, down 2.4 % from 2024. Putin plans one-on-one talks with most attending leaders.