Algerian firm Amimer Energie has signed with Chadian firm 3A Energie a $116 million contract for the construction, in Chad, of a 30 MW solar-hybrid power plant. The two firms also plan to establish a mixt company which was subject to another agreement, this one exceeding $5 million. The third entity will insure interconnection and electric network’s development in five Chadian...

In contrast with some European banks that decided to reduce their assets in Africa, Standard Chartered has decided to boost its presence on the continent. The bank which is one of UK’s 30 biggest stock capitalizations just revealed its intention to launch its mobile and online banking platform in eight African nations.   The service will be launched for StanChart’s million customers in...

Quite optimistic, the African Development Bank (AfDB) said Africa will be more resilient to external shocks than in the 1990s. “Clearly the increase in debt coupled with serious budget deficits are putting a lot of pressure on African countries, but we don’t think it is going to put us back into the pre-HIPC type of era,” AfDB’s vice-president Charles Boamah told reuters. This seems to...

Indian car manufacturer Mahindra & Mahindra has commissioned on May 27, a business center in Nairobi, Kenya, in order to better serve East and Central Africa. The center will serve as distribution canal for the group’s products, including agricultural equipment, utility vehicles, private cars, power generators and equipment used in the agro-industry. “Our new center is an investment...

Victoria Oil & Gas has announced that its first profit as revenues from its Logbaba field in Cameroon for the seven-month period ended December 31, increased extremely as it is planning to boost its reserves and produce more gas in the country. Initial results for the seven months were $1.63 million, while revenues increased to $21.4mln. The company has changed its end of the year...

Sasol Ltd. aims to boost the capacity of its processing facility in Temane, Mozambique to meet the growing regional demand for the country’s gas. According to the senior vice president of Sasol’s exploration and production unit, John Sichinga, Sasol will increase the facility’s capacity by about 8% to 197 million gigajoules by 2017.“There’s no shortage of demand. There’s a power pool...

Total on Tuesday announced that it has signed an agreement to acquire Gulf Africa Petroleum Corporation's (GAPCO) assets in Kenya, Uganda and Tanzania. These assets include two logistical terminals in Mombasa, Kenya and Dar es Salaam in Tanzania, as well as a retail network of around one hundred service stations (67 in Tanzania, 9 in Kenya and 32 in Uganda). The transaction is subject to the...

Egypt's Carbon Holdings has announced that it has signed a deal with one of the four export credit agencies expected to provide funds worth between $4 billion and $5 billion for its Tahrir petrochemicals project. Located at Ain Sokhna at the southern end of the Suez Canal, the $7 billion structure will be one of Egypt’s biggest petrochemical projects when completed. The project...

Sudanese Minister of Oil and Gas, Mohamed Zayed Awad (photo), has disclosed that Sudan's incomes from South Sudan's oil transit fees in Q1 of 2016 reached $160.4 million. South Sudan has continually demanded that Sudan’s government lessen the oil transit fees as a result of the decline in the prices of oil globally as well as the drop in its output to about 160,000 bpd caused by the civil...

Sudan wishes to get its first nuclear plant. The country intends to achieve this with the help of China which will provide nuclear power technology. According to the German media Tageszeitung which revealed the news, construction of the plant should be start, latest by 2027 and have a capacity of 1,200 MW divided into two 600 MW reactors. Its construction should take 6 to 7 years. Sudan...