The board of directors of the African Development Bank (AfDB) has approved a $10 billion equity investment in the Technology and Innovation in Developing Economies I (TIDE I) which aims to boost ICT-driven growth and production in Africa. With a target size of $100 million, TIDE I is a global capital-risk fund that focuses mainly on technology services and innovation across...

All eyes are on the Dangote refinery, currently being constructed by Africa’s richest man, Aliko Dangote and expected to begin operation in 2019. The Minister of State for Petroleum Resources, Emmanuel Kachikwu (photo), has come out to say that Nigeria’s four refineries may become useless once the Dangote’s refinery begins operation. This is coming after the Organization of Petroleum...

Eni on Friday, announced that it has approved the investment plan for the Phase 1 of the development of the Coral gas discovery in the Rovuma Basin, offshore Mozambique. According to the company, the project includes the construction of six subsea wells linked to a floating LNG production facility, with a liquefaction capacity of more than 3.3 million tons of liquefied natural gas per year. The...

Panoro Energy in its third quarter 2016 financial results and operational update on asset offshore Nigeria announced that production from the Aje oil field continues to be restricted by the performance of the Aje-5 well which requires subsurface intervention to repair a mechanical problem. According to Panoro, preparations for the Aje-5 intervention program have begun with the acquisition of...

ERHC, in its operational update on assets in Sub-Saharan Africa, announced that preliminary analysis of the Tarach-1 drilling results reveals encouraging information for further exploration. According to the President and Chief Executive Officer of the company, Peter Ntephe (photo), the well came across oil shows and highly-elevated gas readings at the Tarach-1 well situated in Block 11A. The...

Total Exploration and Production Nigeria has announced that for the past five years, it has invested more than $10 billion in Nigeria in the past five years. According to the company’s CEO, Nicolas Terraz, Total is still strongly dedicated to the developments of its activities in the country and is working ceaselessly to adjust to the current environment. Nigeria’s economy went into...

On November 15, 2016, was opened in Niamey, Niger, an orientation meeting on the formulation and validation process for a training module for magistrates and for a shepherd-tailored guide regarding court intervention in land conflicts. The meeting was organized by the Association pour Redynamisation de l’Elevage au Niger (AREN) and the Niger National Livestock Farmers Federation...

Mali’s rice output for the 2016-17 season stood at 2.81 million metric tons. This is 20% more than what the nation produced the previous season thus exceeding government’s initial forecast, Reuters reports. The West African country indeed forecast an output of 2.71 million Mt of paddy rice this season after recording 2.33 million Mt in 2015-16. Now, the farmers’ performance provided the...

Malawi’s minister of finance, planning and economic development, Goodall Gondwe, revealed that the country signed with China a memorandum of understanding for a 160 million Yuan ($22,869,000). The funds will be injected in the construction of a national fiber optic network to improve internet connectivity in the country. The fiber optic backbone project which was approved by the government of...

South African hospital firm Life Healthcare announced in a statement published on November 16 it will buy 95% of U.K.’s molecular and diagnostic imaging services provider Alliance Medical. Life Healthcare revealed in the statement the deal would be sealed for R10.4bn ($727 million) in cash to acquire the British firm which presently operates in Italy and Ireland. “In addition to investing...