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...

Togo’s economic growth should stand at 5% in 2017, just like the rate forecast for 2016. This was revealed in the State budget project of the government. The budget which is 1,218 billion CFA francs ($2.03 billion) was approved on November 14 by the government. It forecasts a yearly inflation of 2.5% for the coming year against 1.8% expected this year. The economy grew by 5% average per...

Ashaka Cement, subsidiary of Lafarge Africa which is also the African branch of global cement producer Lafarge/Holcim decided to voluntarily delist from the Nigerian Stock Exchange. The firm’s board took the decision because its free float (15.03%) is below the actual standard of the stock market, 20%. The board of directors says the free float liquidity on the NSE was no more much liquid....

Dutch air carrier KLM Royal Airlines announced in a statement dated November 16 it opened a new triangular liaison connecting Amsterdam to Freetown in Sierra Leone and Monrovia in Liberia. The firm which is a member of the SkyTeam alliance will offer starting from March 29, 2017 three flights a week from its Amsterdam-Schiphol base to the Freetown-Lungi airport and to the Monrovia-Roberts...

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru (photo), has announced that subsequent to the acquisition and processing of more than 1,900 km² of new 3D seismic in Chad Basin, the corporation will begin drilling in early 2017. According to Baru, the drilling will commence after assessing the results gathered from the interpretation of the data....

The Organization of the Petroleum Exporting Countries (OPEC) has given Libya the green light to increase its crude oil export regardless of a deal being set up to cut production to manage the oversupply of crude oil and bolster prices. According to the chairman of the National Oil Corporation (NOC), Mustafa Sanalla, Libya’s production currently stands at 600,000 barrels of oil per day and has...

The Ugandan Ministry of Energy has announced that the country plans to sign contracts with the four oil exploration companies it had summoned for talks in its first licencing round, by the year-end. This four oil companies chosen to discuss production sharing agreements (PSAs) are Nigeria's WalterSmithPetroman Oil Ltd, Oranto Petroleum International, Niger Delta Petroleum Resources and...

Statoil has announced that the final investment decision on Tanzania's $30 billion onshore liquefied natural gas (LNG) export terminal will not be made for at least five years or much longer. According to Statoil's Tanzania country manager, Oystein Michelsen (photo), it would take another five years after the decision to construct the plant. “We are prepared for the project to take a long...

In Algeria, Engie has announced that its southwest Touat upstream gas development is still on target to produce next year. The company declared this during a meeting with energy minister Noureddine Bouterfa (photo) in Algiers on November 14 to discuss about the gas sector, current relations between state Sonatrach and Engie, as well as prospects for further cooperation. According to a statement...

Exports of Nigeria's Forcados crude oil are not likely to resume until early 2017, according to traders. The grade has been under force majeure since February after a militant attack on its main export pipeline, the Trans Forcados. The pipeline resumed operations in October, letting some cargoes to load, but fresh militant attacks at the beginning of this month took the line out again, shutting...