AGP Executive Report

Republic of Congo Debt Move: Congo just issued an $850 million international bond maturing in 2036 with a 9.5% coupon, aiming to buy back its shorter-dated 2032 bond and repay regional market debt due in June and July 2026. The finance ministry says the plan cuts refinancing needs by more than $230 million over the next five years and won’t raise public debt levels. Oil Supply Update: In Vietnam, Nghi Son Refinery received over 950,000 barrels of Congo crude to keep fuel production steady as supply routes shift. Offshore Production: Perenco Congo increased output by about 6,000 barrels per day after completing a 5-well drilling push at the Tchibouela East field, and has now started a new 5-well campaign at the Masseko field. Regional Context: China’s zero-tariff policy for African countries took effect May 1, covering nearly 9,000 tariff lines across 53 partner states.

Republic of Congo Debt Deal: Congo just issued an $850 million international bond maturing in 2036 with a 9.5% coupon, using the cash to buy back its shorter-dated 2032 bond and repay regional debt—aimed at cutting near-term refinancing needs by more than $230 million. The finance ministry says the transaction won’t raise public debt levels, with the order book topping $1.6 billion from nearly 80 investors, as talks with the IMF continue amid “fragile” economic conditions and debt above 97% of GDP. Energy & Oil Flows: In the background, Congo crude keeps moving—Vietnam’s Nghi Son refinery received over 950,000 barrels of Congo crude for fuel production—while Perenco Congo boosted output by 6,000 b/d after completing a 5-well campaign at Tchibouela East and has started a new 5-well push at Masseko. Sports & Trade Context: FIBA U18 AfroBasket qualifiers schedules were released across zones in Côte d’Ivoire, and China’s new zero-tariff policy for African countries (nearly 9,000 tariff lines) is set to deepen trade ties.

Sports Preview: FIBA has released the schedule for the 2026 FIBA U18 AfroBasket qualifiers in Côte d’Ivoire, with seven teams set to qualify from each zone and join Mali, Cameroon, Senegal, the hosts and Morocco. China-Africa Trade: China’s new zero-tariff policy for African countries—covering nearly 9,000 tariff lines across 53 states—kicked in May 1, aiming to speed up market access via upgraded customs and a “green channel.” Oil & Industry: Nghi Son Refinery in Vietnam received over 950,000 barrels of Congo crude to keep fuel production steady, while Perenco Congo boosted output at Tchibouela East after a completed 5-well campaign. Mining Finance: Zanaga Iron Ore raised £5.7 million to push forward bulk sampling at its Congo project. People & Rights: A Makoka brothers account of ICE arrest and detention highlights the fear and disruption faced by families during deportation operations. Wildlife Conservation: A gorilla “swap” is set between Boston and Pittsburgh to support a genetically diverse western lowland gorilla population.

Sports Preview: FIBA has released the schedule for the 2026 U18 AfroBasket qualifiers in Côte d’Ivoire, with seven teams set to qualify for the finals and join Mali, Cameroon and Senegal, plus hosts Côte d’Ivoire and Morocco. Regional Football: Zone 1 qualifiers run in Tunis from 8–13 July with Tunisia, Algeria and Libya chasing a return to the continental stage, while Zone 3 in Ouagadougou (4–17 July) features Burkina Faso, Benin, Côte d’Ivoire and Ghana battling for the single spot. Trade Diplomacy: China’s new zero-tariff policy for African countries—covering nearly 9,000 tariff lines from all 53 eligible states—kicks off officially from 1 May 2026, aiming to speed up market access via upgraded customs procedures. Energy & Industry: Congo crude continues to feed overseas refining—Nghi Son received over 950,000 barrels of Djeno crude—while Perenco Congo reports production gains after completing a 5-well campaign at Tchibouela East. Business & Capital: Zanaga Iron Ore raised £5.7m to push forward bulk sampling and in-country project work. Conservation: A gorilla “swap” is set in the US, with Little Joe moving from Franklin Park Zoo to Pittsburgh and Frankie heading to Boston.

China-Africa Trade Boost: China has launched a historic zero-tariff policy for African countries, effective 1 May 2026, covering nearly 9,000 tariff lines across 53 African states (except Eswatini) and backed by faster customs “green channel” procedures to speed market access. Oil & Industry Watch: Vietnam’s Nghi Son refinery received 950,000+ barrels of Congo crude to keep fuel production steady, while Perenco Congo says its completed 5-well campaign at Tchibouela East lifted output by 6,000 b/d and a new 5-well push is underway at Masseko. Investment Signals: Zanaga Iron Ore raised £5.7m in an upsized round to fund bulk sampling and local project costs. Local Life & Conservation: In the wider region, gorilla conservation planning continues with a major zoo “swap” in the U.S., and Central African Republic ecotourism at Dzanga-Sangha is slowly growing—though infrastructure and fair benefit-sharing remain hurdles.

Oil Supply Diversification: Vietnam’s Nghi Son refinery has received more than 950,000 barrels of Djeno crude oil from the Republic of Congo to keep fuel production steady and reduce reliance on Kuwait amid Middle East tensions. Energy Operations: Perenco Congo says it boosted output by 6,000 b/d after finishing a 5-well infill drilling push at the Tchibouela East field, and has now started a new 5-well campaign on the Masseko field. Mining Investment: Zanaga Iron Ore raised £5.7 million after upsizing an oversubscribed share sale, with proceeds earmarked for bulk sampling and project costs at its Congo iron ore project. Wildlife Conservation Swap: In the U.S., Franklin Park Zoo and Pittsburgh Zoo are trading western lowland gorillas—Little Joe is heading to Pittsburgh while Frankie moves to Boston—aimed at strengthening genetically diverse captive populations. Human Rights Story: A separate U.S. account recounts ICE arrests and detention experiences by the Makoka brothers, but it’s not Congo-focused. Local Context Note: This week’s Congo items are mostly energy and mining; there’s little new on governance or social policy.

Refinery Feedstock Boost: Nghi Son Refinery in Vietnam has received more than 950,000 barrels of Djeno crude imported from the Republic of Congo to keep fuel production steady and diversify supply as Middle East tensions disrupt some traditional sources. Oilfield Output: Perenco Congo says it has lifted production by 6,000 b/d after completing a 5-well drilling push at the Tchibouela East offshore field, and it has now started a new 5-well campaign at the Masseko field. Mining Capital Raised: Zanaga Iron Ore has raised about £5.7 million after upsizing an oversubscribed round, with proceeds earmarked for bulk sampling and project work on its Congo iron ore project. IMF Talks Ahead: Brazzaville has formally asked to open negotiations with the IMF for a new economic programme, citing a debt load above 90% of GDP and heavy reliance on oil revenues. Pollution Worries: In Pointe-Noire, residents remain anxious about possible contamination linked to a closed battery recycling plant, as independent soil testing is delayed by shipping logistics.

Oil Supply Boost: Vietnam’s Nghi Son refinery has received more than 950,000 barrels of Congo’s Djeno crude to keep fuel production steady and diversify away from Kuwait-linked disruptions. Energy Output: Perenco Congo says it lifted output by 6,000 b/d after finishing a 5-well infill campaign at the Tchibouela East field, and has now started another 5-well push at the Masseko field. IMF Talks: Congo-Brazzaville has formally asked to open negotiations with the IMF for a new economic programme, citing a debt load above 90% of GDP and heavy reliance on oil revenues. Mining Confidence: Zanaga Iron Ore raised about £5.7 million after upsizing an oversubscribed round to fund bulk sampling and early project work. Local Concerns: In Pointe-Noire, residents are still worried about possible contamination tied to a closed battery recycling plant, with soil testing efforts delayed by logistics. Business & Trade: CMA CGM signed a framework with Kenyan authorities to expand logistics and port capacity, aiming to strengthen east and Central Africa’s trade routes.

Oil Supply Boost: Vietnam’s Nghi Son refinery in Thanh Hoa has taken delivery of more than 950,000 barrels of Djeno crude from the Republic of Congo to keep fuel production steady for domestic demand, as it diversifies away from Kuwait amid Middle East tensions. Production Push: Perenco Congo says it has lifted output by 6,000 b/d after completing a 5-well infill drilling campaign at the Tchibouela East field, and it has now started a new 5-well drive on the Masseko field. IMF Talks: The Republic of Congo has formally asked to open negotiations with the IMF for a new economic programme, citing a debt burden above 90% of GDP and heavy reliance on oil revenues. Local Concerns: In Pointe-Noire, residents are still worried about possible lead contamination linked to a closed battery recycling plant, with independent soil testing efforts underway but delayed by logistics. Investment Signals: Zanaga Iron Ore has raised £5.7m to fund bulk sampling at its Congo project, after strong demand upsized its fundraising.

Oil Supply Stability: Vietnam’s Nghi Son refinery has taken delivery of more than 950,000 barrels of Djeno crude from the Republic of Congo to keep fuel production steady for domestic demand, as operators diversify away from Kuwait amid Middle East tensions. Upstream Push: Perenco Congo says it boosted output by 6,000 b/d after finishing a 5-well infill campaign at the Tchibouela East field, and has now started a new 5-well drive at the Masseko field. Mining Confidence: Zanaga Iron Ore raised £5.7 million after upsizing an oversubscribed round, aiming to fund bulk sampling and in-country project work for its Congo iron project. IMF Talks: Congo-Brazzaville has formally requested negotiations with the IMF for a new economic programme, citing a debt burden above 90% of GDP and heavy reliance on oil revenues. Pollution Watch: In Pointe-Noire, residents remain worried about lingering lead contamination risks tied to a closed battery recycling plant, while an independent soil-testing effort is still awaiting shipment of sampling kits. Regional Spotlight: Congo is also in the wider orbit of the Africa Forward Summit in Kenya, where logistics and trade partnerships are being signed.

Oil Supply Boost: Vietnam’s Nghi Son refinery has received more than 950,000 barrels of Congolese Djeno crude to keep fuel production steady as Middle East tensions disrupt some traditional supplies. Production Push: Perenco Congo says it has lifted output by 6,000 b/d after finishing a 5-well infill drilling campaign at Tchibouela East, and it has now started another 5-well drive at the Masseko field. Investment Momentum: Zanaga Iron Ore has raised £5.7 million after upsizing an oversubscribed share sale to fund bulk sampling and project work for its Congo iron project. IMF Talks Move Forward: Congo-Brazzaville has formally asked to open negotiations with the IMF for a new economic programme, with an IMF mission expected soon as debt remains above 90% of GDP. Pollution Watch: In Pointe-Noire, residents’ fears over lingering lead contamination from a closed battery recycling plant are driving an independent soil-testing effort, though sample kits are still delayed. Regional Trade Links: CMA CGM signed a framework with Kenya to expand logistics and port capacity ahead of the Africa Forward Summit.

Oil Supply Boost: Vietnam’s Nghi Son refinery has received more than 950,000 barrels of Djeno crude from the Republic of Congo to keep fuel production steady and diversify away from Kuwait amid Middle East tensions. Energy Operations: Perenco Congo says it has lifted output by 6,000 bpd after finishing a 5-well infill campaign at the Tchibouela East field, and has now kicked off a new 5-well push at the Masseko field. IMF Talks: Congo-Brazzaville has formally asked to open negotiations with the IMF for a new economic programme, as debt sits above 90% of GDP and the budget remains tied to oil. Pollution Watch: In Pointe-Noire, residents are still worried about lingering lead contamination fears from a closed battery recycling plant, with independent soil testing delayed by logistics. Investment Signals: Zanaga Iron Ore has raised £5.7m to fund bulk sampling and in-country work for its Congo project, while Regional Trade: CMA CGM signed a framework with Kenya to expand logistics and port capacity ahead of the Africa Forward Summit.

Markets Watch: CardinalStone kept a Buy on Access Holdings Plc and lifted its 12-month target to N52.14 from N45.12, citing an improved funding outlook and a shift toward earnings quality and capital optimisation. Immigration Rights: The Makoka brothers described an ICE arrest that left them shackled and isolated, recounting fear and uncertainty during the ordeal. Oil & Gas: Perenco Congo says it boosted output by completing a 5-well drilling push at the Tchibouela East field, adding 6,000 b/d, and has now started a new 5-well campaign at Masseko. Investment Sentiment: Zanaga Iron Ore raised £5.7m in an upsized placing to fund bulk sampling and project work in Congo. IMF Talks: Congo-Brazzaville has asked to open negotiations with the IMF for a new economic programme as debt remains heavy. Environment: Residents in Pointe-Noire are still worried about lead contamination linked to a closed battery recycling plant, as independent soil testing is delayed by logistics.

ICE Detention Story: Brothers Israel and Max Makoka say they were seized in an ICE ambush and subjected to shackling, isolation and pressure to self-deport, before Israel returned home to recover—an account that puts fresh spotlight on how arrests and deportation threats play out for young migrants. IMF Talks: The Republic of Congo has formally asked to open negotiations with the IMF for a new economic programme as debt sits above 90% of GDP and oil-linked revenues leave the budget exposed. Mining Investment: Investor confidence is rising around Zanaga Iron Ore’s Congo project after an upsized, oversubscribed fundraising round to push forward bulk sampling. Oil Pressure Point: A new offshore oil find near Moho is being framed as big on paper, but critics warn the windfall may not translate into broad local benefits. Pollution Watch: In Pointe-Noire, concerns over lead contamination from a closed battery recycling plant are driving independent soil testing plans. Logistics Deal: CMA CGM signed a framework with Kenya to boost port and logistics capacity ahead of the Africa Forward Summit. Wildlife Swap: In a separate conservation note, gorilla “Little Joe” is set to move from Boston to Pittsburgh in a planned exchange.

Zanaga Iron Ore Fundraise: Investor confidence is rising around Zanaga Iron Ore’s Congo project after the company raised about £5.7 million in an upsized, oversubscribed share sale, issuing 140 million new shares at 4p to fund bulk sampling earthworks and in-country overheads. IMF Talks: The Republic of Congo has formally asked to open negotiations with the IMF for a new economic programme as debt remains above 90% of GDP and oil-linked revenues stay vulnerable. Pollution Watch: In Pointe-Noire, worries over lingering lead contamination from a closed battery recycling plant are pushing an independent soil-testing effort, though sampling kits have faced shipping delays. Energy Pressure: A new offshore oil find near Moho—estimated at up to 100 million barrels—adds to the debate over whether Congo’s oil windfalls reach ordinary people, especially amid the Hormuz-linked energy crunch. Regional Trade: CMA CGM signed a framework with Kenya to boost logistics and port capacity ahead of the Africa Forward Summit.

Gorilla Swap: Franklin Park Zoo’s beloved western lowland silverback Little Joe is headed to Pittsburgh, while Pittsburgh’s 7-year-old Frankie will move to Boston—part of a global plan to keep critically endangered gorillas genetically diverse. IMF Talks: In Brazzaville, the Republic of Congo has formally asked to open negotiations with the IMF for a new economic programme as debt tops 90% of GDP and oil-linked revenues leave budgets exposed to price swings. Pollution Watch: In Pointe-Noire, fears linger after a closed battery recycling plant, with an independent soil-testing effort underway to check lead contamination risks for nearby communities, especially children. Energy Pressure: A new offshore oil find by TotalEnergies EP Congo—estimated near 100 million barrels—revives debate over whether Congo’s oil wealth reaches ordinary people amid wider regional energy strain. Regional Trade Push: CMA CGM signed a framework with Kenya to boost logistics and port capacity as Africa-France summit leaders gather in Nairobi.