Ophir Energy in its 2016 half-year results and operational update announced plans to take advantage of the low cost environment by resuming its drilling campaign.The company posted a pre-tax loss of $70million for the first half of 2016 with its revenue amounting to $52million, compared to last year’s $86million. According to Ophir, the Fortuna project in Equatorial Guinea is...

Motorist are to now spend less on fuel after the Energy Regulatory Commission (ERC) announced a reduction in the pump prices of all petroleum products, as a result of the ease in global oil prices. In the recent monthly pricing review, motorists in Nairobi will enjoy a Sh3.74 drop in the price of a litre of super petrol as the commodity now sells at Sh91.39. A litre of diesel dropped by Sh2.05...

Tanzania’s economy is on the right path to growing by 7.2% in 2016 against 7% in 2015, governor of Central Bank of Tanzania, Benno Ndulu announced on September 14. This growth rate slightly exceeds that forecast by the International Monetary Fund, knowingly 7% of Tanzania’s GDP this year. The governor said the rapid growth was due to the construction sector faring better and governance...

In Nigeria, Sokoto Cement will build two power plants with a combined capacity of 60 MW. The plants, which will be completed mid-2017, will run on fossil fuels (most likely coal). The infrastructures will be developed mainly to reduce the operating costs of the firm which has accumulated a load of debts over the past few months. They will also help it boost its production, significantly....

Launched by the Seychelles Tourism Board (STB), Seychelles Travel Guide is an app which is mainly intended for tourists who come to the 115-Islands archipelago. “With the help of new technologies, we tried to put everything in one app, from housing, to restaurants, attractions and touristic activities,” said Vahid Jacob, STB’s e-marketing chief. The app’s functionalities were...

In an interview with national TV, ORTM, and daily Les Echos, the President of Mali, Ibrahim Boubakar Keita, said he will work to implement a land reform which will help improve land management in the country. “I think it’s time we have a proper land register. It is time also for the land management regulations, and land code to be reviewed and revised. A strict discipline should be in place...

head of presidential election in December 2016, Ghana’s President, John Mahama, said in a speech addressed to his party on September 13 that “Ghana's budget deficit is expected to fall to 4.9 percent of GDP this year against an initial projection of 5.3 percent”, adding that “gross domestic product is expected to grow more than 8 percent next year, compared with a projected 4.1 percent...

Mining firm Robex Resources, active on the Nampala Mine in Mali, has recovered the Kamasso exploration permit, which it held from 2004 to 2013, and in which it invested $1,076,052 in research and exploration works. The permit which covers an area of 100 km² is adjacent to the Mininko permit held by Robex at the Nampala Mine. Due to its proximity with Nampala, the permit offers the company...

Honeywell Oil and Gas Limited on Thursday, said it has changed its business name to HOGL Energy Limited.According to the indigenous oil and gas marketing companies within and outside Nigeria, consistent with the change, the company’s logo, website and email addresses would change effective from September 15, 2016, while all other details and organizational structure would stay unchanged, Punch...

Each day, 120 tons of potato chips are consumed in Nigeria. Truly, despite being the leading potato producer in sub-Saharan Africa, Nigeria depends mainly on imports to satisfy its demand. Statistics show that it imports around $45 million of potato yearly.  However, given the actual dollar shortage that the nation is recording, as a result of central bank’s policy, the whole potato...