Investments in West Africa’s fishery industry could generate 300,000 jobs, said a report of Overseas Development Institute (ODI) and Spanish organization which specializes in investigative journalism porCausa. The report entitled “Western Africa’s missing fish” highlights that weak regulations paired with the lack of co-ordinated efforts among countries in the region and the absence of...

After nearly two decades of consistent growth, spurred by economic boom in the region, the insurance market of Sub-Saharan Africa (SSA) is now threatened by low commodity prices and political uncertainty associated with upcoming elections in around 15 African countries, the        ratings agency AM Best said in a report published on July 12. “Low commodity...

Intermediate gold producer present in Mali, Cote d’Ivoire, Ghana and Burkina Faso, Endeavour Mining, raised C$144 million (US$110,706,213) after announcing it has closed a bought-deal financing. The firm has issued a total of 7.18 million ordinary shares, at C$20 per share, including an over-allotment option awarded to underwriters led by BMO Capital Markets. Proceeds will be used to...

Marathon Oil on Thursday announced that it has achieved first gas production from the Alba B3 compression platform located 32 km of the coast of Malabo in Equatorial Guinea.The new platform will allow the company and its partner Noble Energy to process about 130 million barrels of oil equivalent from the Alba field and extend the field’s life by 10 years to 2034. The engineering, procurement...

In a statement published on its website, Helios Towers Africa (HTA) said its DRC unit, Helios Towers RDC (HT RDC), got a US$105 million syndicated loan. Main initial arranger for this loan is Standard Bank South Africa and German development as co-arranger. The loan will be used by HT RDC to partially finance acquisition of 950 telecom towers from Indian group Bharti Airtel, its organic growth...

The Kenya Pipeline Company (KPC) has revealed plans to acquire the Mombasa-based Oil refinery as the government prepares for commercial production in 2017.The company is currently in search of a consultant to assist in evaluating the viability of the refinery prior to the planned acquisition. KPC had earlier announced its intention to transform the refinery into an oil storage...

Oryx Energies is the main sponsor of the 3rd annual Africa LPG Summit that will be held from 18 – 20 July, 2016, in Dar es Salaam, Tanzania, on the theme “Removing Barriers to LPG Growth and Distribution in Africa”. Oryx Energies is a leader in the LPG (Liquefied Petroleum Gas) industry in sub-Saharan Africa. LPG is readily available, easily stored and transported, and produces fewer...

In Lagos, oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have decided to postpone a strike that many feared might result in fuel scarcity and disrupt crude production in the country. The strike by about 10,000 members of PENGASSAN, including refinery workers and office staff, started last week Thursday concerning issues related to the...

Angola has maintained its position as Africa’s top producer for four months as militants continue their attacks on oil installations in Nigeria, thereby weakening crude oil production. According to the Organization of Petroleum Exporting Countries (OPEC), this is expected to continue until militant activities stops in Nigeria. OPEC revealed that Angola’s production increased by about 4,000...

Ivory Coast plans to increase its oil and gas output by 2020 as the country seek for foreign investment in offshore exploration, the managing director of Petroci revealed. The West African country has disregarded its petroleum sector for years to focus on developing agricultural exports but the authorities are at present looking to develop offshore reserves in the Gulf of Guinea.“Today we have...