Simba Energy has announced that it will begin 2D seismic in Kenya’s Block 2A in the next 7 to 12 days as all necessary preparations have been completed. According to new CEO of Essel Group ME and Simba Energy, Punkaj Gupta, the seismic will be followed by the start of a drilling programme later this year.“Simba Energy is at an extremely exciting stage of its development, with preparations...

Angola's liquefied natural gas (LNG) export project has opened a tender for the sale of its first cargo after the unexpected shutdown in April 2014. This LNG export plant was closed in April 2014, 10 months after it sent its first cargo of LNG due to a major break on a flare line. According to trader sources, the cargo was laden on the Sonangol Sambizanga tanker and the submission of bids for...

Aminex, in its operation update on gas production from its Kiliwani North Development Licence in Tanzania, announced that it has issued its first invoices for the licence. According to the company, the commissioning of the licence’s power generation system and other secondary facilities has been completed. In the course of the commissioning, gas rates are scheduled to increase to 30 Mmscfd...

Tullow Oil has postponed the payment of dividends to its stakeholders, reduced finance for new exploration and has restricted capital expenses to key projects, Kenyan Wallstreet reports. According to the company’s annual report for 2015, Tullow has also laid-off some of its staff in an effort to survive during this tough time for the oil industry. “There has been a relentless focus on cost...

In Nigeria, the activities of the militant group, Niger Delta Avengers on oil facilities in Bayelsa State have prohibited Agip, Aiteo and Shell’s operations in the state. Production by Agip and Aiteo from May 2016 is at 140,000 bpd, as a daily estimated $6.72 million has been lost by the two operators as a result of the attacks on oil export pipelines being operated by the...

The South African banking group Investec has raised £138.8 million ($200 million) on the London stock exchange, through the placement of 31 million shares, which represents 4.8% of its capital. According to the statement providing the information, proceeds from the fundraising will be used to redeem preferred shares previously issued by South African banks under Black Economic Empowerment (BEE)...

In 2016, the member-countries of WAEMU (West African Economic and Monetary Union) should record an economic growth of 7.2% against 7% in 2015. This is what revealed forecasts published on June 1, 2016 by the Central Bank of West African States (BCEAO). Expected growth should result from the “consolidation of activity in secondary sector and good performance of tertiary sector”, the same...

It would have lasted 20 years but it finally ended. That is the love story between American fast-food Kentucky Fried Chicken (KFC) and Botswana. Truly, the fast-food will cease all activities in the country on June 5, 2016. The news came through a statement from VBP Propco (KFC’s local franchise) and comes amid economic turmoil in Botswana. This turmoil emerges from a fall in commodities’...

Econet Wireless, Zimbabwe’s leading mobile operator, has injected $55 million in alternative power sources last year. “The firm has invested more than $55 million into alternative power sources, of this amount, $7 million were used to run diesel-powered generators,” said James Myers, Econet’s director. The difficulty to get power was one of the main reasons behind the...

In Morocco, WB Africa is a group of communication agencies and media space development. It regroups three firms including Crystal Creative, a communication strategy consultancy agency, WB Media, which deals with the purchase media spaces, and Timberwolf Digital which offers an expertise in terms of development and advert creation. By establishing itself in Africa, WB Africa supports...