In a circular he signed, Algeria’s Prime Minister Abdelmalek Sellal said: “we have received information suggesting that some national operators diffuse ads paid in foreign currencies” Aside the fact that the Algerian law forbids services paid in foreign currencies, the head of the government fears that Algerian advertisers might abandon national websites for foreign platforms. The...

Tanzanian Royalty Exploration Corporation announced the renewal for ten years of mining license for its Buckreef gold project, Tanzania. The renewal was technically not due until June 2017. “The mining license renewals are significant for many important and gratifying reasons. […]This renewal period clearly indicates that the Ministry of Energy and Minerals expects the Buckreef Project to...

Stewards and air hostesses of the Moroccan airlines Royal Air Maroc (RAM) started on October 18 a strike of 48 hours which might to beyond, Telquel says. The employees want their base salary increased, a 50% premium on what they are paid for night flights and the inclusion of transportation fares.  The strike comes after to a meeting on October 17 between RAM’s flight attendants and...

On the sidelines of the second edition of Africa Forum on Islamic Finance organized by the Islamic Corporation for the Development of the Private Sector (ICD), Jacques Konan Assahoré, managing director of Cote d’Ivoire’s treasury and public accounts, declared that Senegal, Togo and Cote d’Ivoire listed five sukuks worth FCFA766 billion ($1.28 billion). Senegal raised 300 billion CFA...

The Bourse Régionale des Valeurs Mobilières (BRVM) listed on October 18, 2016, on the sidelines of the second edition of the Africa Islamic Forum held in Abidjan, its first five Sukuk issued by Cote d’Ivoire, Senegal and Togo in the WAEMU Regional Finance Market. This initial listing will boost attractiveness and liquidity of Islamic bonds, especially for individuals, while insuring the...

Emerging market-focused private equity firm Abraaj Group is in talks to acquire Kenyan private clinic Metropolitan Hospital, AFKInsider reported on October 18. “Nairobi is a sweet spot for us. There is a big population that is growing. You have emerging middle incomes. And there is a massive need for healthcare,” Khawar Mann, the Managing Director and Head of Healthcare at Abraaj Group,...

State-owned Kenya Pipeline Company has announced that it has chosen PricewaterhouseCoopers (PwC) as its lead adviser on the planned acquisition of Kenya Petroleum Refineries Ltd. The Kenya Petroleum Refineries Ltd (KPRL) is the only crude-processing company in the East Africa country and has been put on hold since 2013. The government gained full ownership of the facility in April when the...

MX Oil on Wednesday announced that it has received its first income from the Aje Field on OML 113 in Nigeria. According to the company, the first production of oil from the field has been sold for $1.2million.OML 113 encompasses an area of 835 km² offshore Nigeria close to the Benin border. It holds the Aje field and several other exploration prospects. The Aje field was discovered in 1997...

ExxonMobil has announced plans to commence the drilling of its first exploratory well off the coast of Liberia in November. According to a company’s spokeswoman, ExxonMobil’s subsidiary in the country intends to drill a deepwater exploration well on the Liberia-13 Block. “ExxonMobil Exploration and Production Liberia, an affiliate of ExxonMobil, plans to drill a deepwater exploration well...

Libya has recommenced production from the Waha oil field bringing the country’s total production to 580,000 barrels per day, a senior Libyan oil official revealed. According to the official, oil output from the field is being redirected to the Ras Lanuf export terminal rather than the usual Es Sider port due to limited storage.The Waha field, which is operated by the Waha Oil Company, is one...