The Tanzanian government is currently looking at the possibilities of building an oil trading center in Tanga to supply fuel to East and Central Africa.This would be an added advantage as the country had been selected for the planned Uganda crude oil export pipeline this year. According to the Minister for Industry, Trade and Investments, Charles Mwijage (photo), the government had begun working...

The President of Nigeria, Muhammadu Buhari through the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), has given the green light for the commencement of production from four wells in Lagos state. Aliyu Mohammed, the Chairman of the RMAFC Indices and Disbursement Committee, said the group was planning a visit to Lagos to validate the production of crude oil and gas from the Aje oil...

The National Oil Corporation (NOC) in Libya has announced that an agreement has been made by rival forces to let a tanker berth at Zueitina port to load oil and transport it the Al-Zawiya refinery. This is due to concerns of a possible clash between the Petroleum Facilities Guard (PFG) and forces loyal to eastern commander Khalifa Haftar. The PFG had signed a deal with the U.N.-backed...

Louis Rene Peter Larose (photo), executive director of the World Bank Africa Group One, recently visited the Liberia Electricity Corporation (LEC) to find out measures that its institution could take to assist the local power industry. The main goal here is to help the country recover its pre-war energy capacity. “Energy is the lifeblood of every economy and with what I have observed so far,...

The Tunisian government plans to award contract for the construction of a digital infrastructure, a keystone in the implementation of the Tunisie Numérique 2020 (Digital Tunisia 2020) project, to a third party company. By proceeding this way, the State aims to preserve telecom operators against risks of duplicates and from unnecessary spending into new sites. It was during the closed council of...

Platinum miner Lonmin plc secured a $50 million funding for a Bulk Tailings Treatment (BTT) in South Africa. The firm announced that it has already received a first tranche of $9 million and that work has started. Lonmin intends to re-process 26 tons of mine residues at a pace of 300,000 per month. Production is expected to begin in 2018. Once stable, the project should produce about...

Egyptian Minister for International Cooperation, Sahar Nasr, announced on August 18 that Saudi Arabia is going to deposit $2bn at the Central Bank of Egypt, in respect to an agreement signed by the two nations. The accord which according to the Minister is part of bilateral conventions signed last April between Cairo and Riyadh, as Saudi Arabia’s king, Salman bin Abdulaziz, visited...

Egypt hired banking groups JP Morgan, Citibank, BNP Paribas and Natixis to arrange $3-$5bn Eurobonds, the Ministry of Finance said in a statement published on August 18. Issuance for the bonds was approved at the beginning of August by the Egyptian government. Since the revolution which brought down President Mubarak’s regime in January 2011, Egypt has been struggling to restart its...

Due to Drought, Brazil might be forced to come back on its decision to ban cocoa imports from Cote d’Ivoire. In fact, the nation’s cocoa processing industry association (AIPC) said it was putting pressure on the government to this end. This should lead cocoa imports in the country to grow sevenfold compared to the previous year. “For us, importing is horrible because it's always better to...

“The next three years will be more critical than the past 50”. Such is the opinion of 1,300 CEOs of large and medium companies from various countries like China, USA, South Africa or the Great Britain. Surveyed by the KPMG consulting firm in the framework of its 2016 Global CEO outlook entitled “Now or Never”, most of these CEOs like German Karl-Heinz Streibich believe that “Digital...