Will Chad soon experience agricultural revolution? This is what suggest the words of President Deby during the launching of the 2016-17 agricultural season. The president who said he would dedicate his new five-year term to the development of rural areas, emphasized on the importance of agriculture toward the country’s emergence. “Oil is poverty. To achieve true development, agriculture and...

Fox Petroleum Energy Trading Nigeria Ltd, has revealed plans to start investing in the exploration and processing of crude oil in Nigeria soon. According to Kabo Sunday, the Managing Director and Country representative of Fox Petroleum, the company would be investing billions of dollars in the Nigerian petroleum sector.He said talks are already ongoing with the Federal Government’s agencies...

Burkina Faso’s Minister of Energy, Oumar Dissa, announced that five photovoltaic solar plants totaling a capacity of 80 MW will soon be built in the country. “The government has decided to sign a production agreement with independent photovoltaic power producers for 80 MW,” he said after a governmental meeting. The centrals will be built in N’Gourma (10 MW), Dori (15 MW), Ougadougou (30...

Attijariwafa bank has once again been announced for a stake acquisition in Barclays Egypt. The SNI-controlled group might be collaborating with UBS Group AG for the operation, Bloomberg said citing an anonymous source. Reuters has previously made the same announcement in March 2016, citing Ismael Douiri, the general manager of the Moroccan bank. Attijariwafa has repeatedly explained its global...

Oil shipments has resumed from Libya’s Marsa al-Hariga port as a tanker that had been prevented from loading for three weeks due to a dispute over oil exports, entered the port and began loading on Thursday. According to port and oil officials, the Seachance, which had been delayed from loading oil for the Tripoli-based National Oil Corporation (NOC), was loading 600,000 barrels for shipment...

Israel and Egypt are willing to enter into negotiations that will lead to a multibillion-dollar natural gas agreement and a reduction in the amount of fine the latter was ordered to pay by the International Arbitration Court. According to sources, Israel may decide to allow Egypt pay half of the $1.73 billion fine it was instructed to pay the country, so talks on exporting Israeli...

Société équatoriale des mines (Sem) announced that works at its first gold mine started. The mine is located in the Miamizez permit (Ogouee-Ivindo province) which covers an area of 25km2. In 2015, Sem signed with the Chinese firm Myanning a partnership agreement to start semi-mechanized gold mining at the Miamizez licence, in the Ogooué Ivindo province. Sem intended to improve gold mining...

Subsidiary of CDG Maroc Group, Finéa, announced in a statement, the signing with BMCE Bank of Africa, of an agreement for the provision of a second financing line of 1.3 billion dirham (€119 million). The new financing aims to facilitate access to funding for Moroccan SMEs that operate in the country’s various productive sectors, knowingly funding for their investment projects and needs in...

During the ordinary general meeting held on May 15, 2016, the committee of employers of Algérie Telecom has decided to take part in the bond issuance projected by the firm. According to the firm’s former CEO, Azouaou Mehmel, speaking on Dzaîr News, the firm will use proceeds of the bond to develop its network. The money initially reserved for this, by the company, was not enough as...

The Federal Government of Nigeria plans to release the names of the four companies which successfully bid to operate modular refineries in the country soon. According to the Minister of Information and Culture, Lai Mohammed, the refineries when on stream, will be able to refine 650,000 bpd of petrol, assist in creating more than 200,000 jobs as well as stimulate the economy.He said the Dangote...