A Nigerian oil and gas workers union in the Urhobo region of Niger Delta, has confirmed an attack by a militant group on a pipeline operated by the Nigerian National Petroleum Corporation (NNPC), in the oil region. This is coming after the Niger Delta Avengers, claimed responsibility for an attack on a Chevron pipeline last week. “There was an attack. Although the pipeline was not in use at...

Woodside Energy has completed the acquisition of shares in ConocoPhillips Senegal, which holds a 35 percent interest in three exploration blocks offshore Senegal, for $440 million including net customary adjustments of about $90 million. The completion of this transaction gives Woodside a 35% interest in three exploration blocks, including the SNE and FAN deep-water oil...

Communities affected by oil spill in Niger Delta have given the Nigerian National Petroleum Corporation (NNPC) a seven-day ultimatum to provide cleanup, relief materials and compensation for the affected area or activities at the Escravos pipeline will be shut down. The spill, which was reported to have begun on August 17 and lasted for two months, affected communities including Ikpokpo,...

During a meeting last Thursday with Togo’s president, Faure Gnassingbé, UBA’s President, Tony Elumelu said he would open in Lomé, Togo’s capital, a branch that will support SMEs, financially. Elumelu firmly believes Africa’s development will take place through its entrepreneurs. “The private sector holds the key to unlocking Africa’s human and economic potential,” he recently...

Portuguese group Simoldes, one of Europe’s leading mould makers, plans to build in Morocco a plant which will manufacture plastic mould products for cars. The project will cost the company more than 60 million euro, news website L’Usine Nouvelle reported on October 24, 2016. The project is part of 30 industrial investments worth €690 million announced on 4 July 2016, in Casablanca,...

SAP, management and maintenance software and system developer, has commissioned its first co-innovation lab (COIL) in Africa. The infrastructure which will be established in South Africa will provide SAP a practical environment to innovate in collaboration with software solution partners, system integrators and technology partners. Brett Parker, chief executive of SAP Africa said co-innovation...

During a meeting at the Stade de la Paix of Bouaké (central-north Cote d’Ivoire), Ivorian President, Alassane Ouattara announced that a rural land agency would be established before the end of the year. The agency which will focus on ending all conflicts related to rural lands is one of the major measures developed under the government’s new land policy. “I would like to once more talk...

ASX-listed miner Resolute Mining signed a share swap agreement with Osisko Mining to acquire its 12.9% interest in Kilo Goldmines which holds multiple exploration licences in DR Congo. The purchase will bring at 27.4% the company’s stake in Kilo, after an initial acquisition of 27.4% in Kilo in August 2016. Under the new agreement, Resolute will purchase through a wholly owned subsidiary,...

Rwanda is seeking funds, about $225 million, to build an 80 MW peat-fired power plant, in Akanyaru marshland, Gisagara district. “We are running a major project for peat power plants in order to achieve our objective of 563 MW by 2018, which will provide us with enough energy to support the growth of our economy. We are currently looking for funds to concretize this project,” said...

Kenya’s leading retailer Nakumatt Holdings has started talks with local and foreign investors to sell about 25% of its capital in order to slash its debt which tripled over their past five years. “The company, based in the capital, Nairobi, is in discussions with foreign and domestic investors that are expected to be concluded within weeks,” Chief Executive Officer Atul Shah said cited by...