The British parliament, in a report released on September 14, 2016, blames former French President Nicolas Sarkozy and UK’s ex-Prime Minister David Cameron for politic instability and mayhem in Libya following the military intervention that led to the death of the North African nation’s former leader, Colonel Muammar Gaddafi, in 2011. According to the British Foreign Affairs Committee...

Mozambique’s president, Filipe Nyusi, pledged to work with the International Monetary Fund (IMF) regarding the international audit of its public debt, the institution said in a statement cited by Reuters. The president’s commitment comes after he met in Washington with Christine Lagarde, IMF’s head, to reassure international institutions and investors concerning the scandal which exposed...

Mining firm IAMGOLD released additional drilling results from 23 diamond drill holes at the Malikoundi deposit totaling 2,217 m, on its Boto gold project in Senegal. Main mineralized intersections were found on drill hole 2302, at 12 m grading 6.39 g/t gold including 3 m grading 20.77 g/t, drill hole 2300, at 9 m grading 4.76g/t gold and drill hole 2303, at 22 m grading 4.04 g/t. On drill hole...

Moroccan business mogul Anas Sefrioui just created a company specialized in industry, trade, construction car assembling. According to daily L’Economiste which reported the news on Sept 16, 2016, the firm will have as initial capital $1.029 million (10 million dirham). Named Afri Motors S.A, the new company will be headed by Sefrioui himself, as director general, and his son Malik....

Portugal’s REN’s Sines LNG terminal situated on the Atlantic coast is expected to receive a cargo of liquefied natural gas from Nigeria. The shipping data from the port of Sines shows that the 174,900-cbm LNG Finima II liquefied natural gas carrier has left Nigeria’s Bonny export facility, and is expected to be received at the terminal’s jetty on September 22, 2016. Portugal’s LNG...

Uniwax said it will pay out up to 100% of its net profit in dividends, by 2021. The BRVM-listed firm explained that it reduced its dividend payout ratio to 46.47% in 2015 from 87.5% in 1999 because it wanted to gather enough equity to invest and improve its financial results. In its forecasts, the company’s net income rose from FCFA4.35 billion in 2015, to 10.18 billion in 2021. However, to...

Belgian firm Elicio, its Kenyan partner Kenwind and the International Finance Corporation can finally go through with the development of the Mpeketoni wind plant, a 90 MW plant which is to be established in the Lamu County. For a long time, local farmers backed by the County’s authorities opposed the project, and went to court even asking for the cancellation of acquisition process for the...

According to a new report from the International Enrgy Agency (IEA), in 2015, $313 billion were injected in renewable energies. This is 8% lower than what was invested the year before. “Renewable energy investments accounted for nearly a fifth of total energy spending last year, establishing renewables as the largest source of power investment. While spending on renewable power capacity...

The prices of crude oil dropped on Friday amidst fears that Libya and Nigeria’s resumption of exports would encourage a global oversupply. Brent crude features were trading at $46.20 per barrel, a drop of 0.8% from their previous settlement while West Texas Intermediate dropped also by 0.8% to $43.55 per barrel. According to traders, the comeback of supply from Libya and Nigeria will...

Compagnie Malienne pour le Développement des Textiles, CDMT (Mali’s Textile Development Company) believes the country will have this season, 2016-2017, a record cotton production. “If rains are consistent, we are sure to beat our 650,000 metric tons forecast,” said Ousmane Traoré, Technical advisor in charge of production at CDMT. Officials’ base their confidence on the fact that...