The Egyptian Refining Company (ERC) has announced plans to conclude its refining project in Mostorod within the Q1 of 2017, as part of moves to address the supply gaps in the petroleum derivatives market. According to the company’s Managing Director, Mohamed Saad, 90% of the project has been executed and the overall investments in the project have reached $3.7b, with the completion of all...

The Tanzania Petroleum Development Corporation (TPDC) has announced that following the completion of the 542-km gas pipeline from Mtwara to Dar es Salaam, plans are ongoing to set up a $150 to 200 million mega plant to enable the transportation of the natural gas to large-scale industries and households. According to the Acting Managing Director of TPDC, Engineer Kapuulya Musomba (photo...

The Nigerian Minister of State for Petroleum Resources, Emmanuel Kachikwu (photo), has announced that the country’s oil production rate is expected to increase by 22% to 2.2 million barrels per day from its current levels by the end of 2016. According to him, Nigeria is also likely to sign an oil deal with India worth $15 billion by the end of the year, adding that he hoped a force...

Access Bank Ghana wants to raise funds to support expansion projects. “We are seeking to expand our operations by making new investments in branch expansion, robust technology and other infrastructure,” said Dolapo Ogundimu, Managing Director of Access Bank Ghana. For the 2015 fiscal year ended in September, the bank cumulated a net profit of 80 million Ghana cedis ($20 million). However,...

Volkswagen, the German car sold in Tunisia by ENNAL Automobiles is the most sold in the country, with 4, 300 units in the first nine months of 2016, an analysis published by stock market intermediary Mac SA. With a market share of 9.61%, it steals Citroën’s crown which led the rankings in 2015 with 5,201 cars sold, against 4,146 this year. At the second position in the rankings is...

Nigeria said it is in advanced negotiations with the Nigerian Sovereign Investment Authority (NSIA) for a $500 million investment to develop its mining sector. “We want this to be private sector driven so we have been in discussions withNSIA, the Nigerian sovereign investment authority and we are looking at a 500 million dollar fund from their side which will primarily focus on...

The world expects a record cocoa output this year. This was revealed by Jonathan Parkman who is in charge of agriculture at Marex Spectron. Experts mainly count on better rains -as a result of La Nina weather phenomenon- to see these expectations met. According to the US weather agency, there is a 70% chance that La Nina will come. Trusting the forecast, long term contracts on cocoa for...

Lychees exports in Madagascar this season could start than in the last one, since the current season began earlier than expected, Freshplaza said. According to the nation’s officials, volumes exported should stand at 18,000 tons. According to technicians, the fruits have good features and loading this year should beat last year’s. Though date to commence export is yet to be set, officials...

During the council of ministers organized on October 12, 2016, the government of Benin has decided to aggressively tackle the land management issue. It will develop a complete, modern and reliable national land register. “Land insecurity is a major issue in our nation. Many reforms have been initiated to boost land tenure. However, modern and performing management tools for land management...

West Africa-focused oil and gas exploration and production company, Lekoil, has announced that it has raised gross proceeds of about $12.4 million through the placing of 48.33 million new ordinary shares to finance the final amount of expenditure to bring the Otakikpo into commercial production. According to the company, the Otakikpo project is expected to begin production in the coming...