Randgold Resources still works to achieve its goals to extend the lifespan of its Tongon mine ine Ivory Coast. During a press conference held last Saturday, the firm’s CEO, Mark Bristow (photo), declared that the mine is on the right track to achieve forecast output of 285,000 ounces, adding that the company is focusing on exploration to secure new reserves and resources. Actually, the various...

In Morocco, the debt of telecom group Itissalat Al Maghrib, mostly known as Maroc Telecom, has increased by about 4.7 billion dirhams ($491.6 million) over the first half of 2017, ended on June 30. The rise is mainly due to bank borrowings (repayable in less than 12 months) having exceeded four billion dirhams. As investments slumped by a little more than 20% over the period reviewed, the group...

Guinness Nigeria says it has started receiving subscriptions for its N39.70 billion ($126 mln) share sale to existing shareholders. This is expected to end in five weeks. It should be recalled that last month, the company announced that it is looking towards share sale to raise $126 million from existing shareholders to mitigate the impact of increasing finance costs, optimize our balance...

According to figures compiled for FTfm by data provider Morningstar, in the first half of this year, bond funds attracted more than $355 billion, against $375 billion for the whole of 2016. The surge, which was recorded despite procedures by central banks to standardize monetary policy, marks investors’ interest in fixed-income funds. The net figure recorded at the end of May...

The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Barkindo (photo), has said that Nigeria does not intend to go beyond its oil production target of 1.8 million barrels per day, until the end of March 2018. The Secretary-General disclosed this at the opening of the fourth Joint OPEC and non-OPEC Ministerial Monitoring Committee in St. Petersburg,...

The Nigerian Meteorological Agency (NiMet) has said that flood across the country this year, may affect cocoa crop and boost rice output. In its weather outlook, NiMet predicted that no less than 32 out of the country’s 36 states, may likely experience flooding during the wet season, due to irregular rainfall. “When you have serious cases of flooding, the tree crops will be forced to...

In Senegal, Prime Minister Mahammed Boun Abdallah Dionne, announced that President Macky Sall (photo) will give today 366 land titles to residents of Tobago. Evicted from their homes in mid-2015, during works at the Léopold Sédar Senghor airport of Dakar, the beneficiaries filed actin to have their rights restored. “The 366 victims will today receive, as a symbolic gesture, at the...

Jack Ma (photo), founder and executive chairman of e-commerce platform Alibaba, rival of US’ Amazon, announced on July 23, he is launching a $10 million fund for young African entrepreneurs. “I want that fund supporting African online businesses,” said the billionaire who is also advisor to the United Nations Conference on Trade and Development (UNCTAD) for Youth Entrepreneurship and...

Britain has expressed readiness to invest in Nigerian oil and gas sector, including pipeline infrastructure and electricity generation, according to British High Commissioner, Paul Arkwright (photo). The diplomat disclosed this when the Group General Manager, Group Public Affairs of the Nigerian National Petroleum Corporation (NNPC), Ndu Ughamadu, paid a courtesy visit to the Chancery of British...

West-Africa focused Eland Oil and Gas in its operational update for the six months ended 30 June 2017, announced that production from one of its Nigerian licences has reached the highest level it attained 40 years ago. According to the company, OML 40 had been producing at an average rate of over 11,400 barrels of oil per day (bopd) gross, since pipeline exports to the Forcados terminal resumed...