Brazilo-Belgian brewer Anheuser-Busch InBev just submitted to the European commission, a list of concessions in the framework of merger with South African SABMiller. The group thus aims to get Brussels’ approval for what will be the biggest overtaking ever in the consumption goods industry, Reuters reports. In this regard, AB Inbev previously negotiated an agreement with Japanese firm Asahi...

The International Monetary Fund (IMF) on April 12, 2016, said it feared that global economy will stagnate amid prolonged low growth levels in most economies worldwide. “Lower growth means less room for error,” said IMF Chief Economist Maurice Obstfeld, as central banks’ governors and ministers of finance hold spring meeting in Washington. IMF’s analysts say a generalized decline in...

Africa’s biggest cement producer, Dangote Cement Plc, secured a $2 billion loan from International Commercial Bank of China. “It’s for my two cement companies that we are establishing in Nigeria,” said billionaire and CEO of the firm, Aliko Dangote. Few weeks ago, Africa’s richest presided the foundation stone-laying ceremony of the Okpella cement plant, in Edo state. The cement...

Sonangol EP group, has announced that Lontra-1 gas well of Block 20/15 in the Kwanza Basin is a commercial well. The company which owns and operates the Block 20/15 concession, stated that the declaration is due to the result of the drilling and discovery of the reservoir containing natural gas and condensate. The results confirms the existence of gas and condensate, estimated at 139 million...

Shell has commenced talks with Iran for the supply of oil to the Anglo-Dutch company’s refineries in South Africa. According to the South African Deputy Minister of Energy, Thembisile Majola, most refineries in South African refineries are controlled by foreign companies and they could be encourage to resume trade with Iran since sanctions has been lifted, Mehr news reports For his part, the...

Lekoil in its update on operations from the Otakikpo Marginal Field in the Delta region of Nigeria, announced that the well testing program on the Otakikpo-002 well was successful. According to the company, the well flowed oil from two upper zones all through the two production tests which was concluded on April 10, 2016.  The C5 zone flowed at a maximum rate of 6,404 bpd at a 36/64”...

The Nigerian National Petroleum Corporation (NNPC) has announced that the Port Harcourt Refinery, has resumed the production of petrol after it was shut down some months back. According to the Group General Manager, Public Affairs of the NNPC, Garuba Deen Muhammad, the refinery presently produces about five million litres of petrol per day ever since it began operations last week and the...

  Journalist Hassan Hanafi, who joined al-Shabab was executed on April 11, 2016 at the Mogadishu Police Academy in Somalia. He was condemned for his involvement in the murder of at least five Somali journalists between 2007 and 2010. Hassan Hanafi confessed his crimes, according to Abdulahi Hussein, an executive from the military court, cited by French Press Agency (AFP). Hassan Hanafi...

World Bank injected $29.65 million in the Menengai geothermal project, in Kenya. The bank’s arm Climate Investment Fund carried out the transaction. The loan was guaranteed by six financial institutions: African Development, Asian Development Bank, European Reconstruction and Development Bank, European Investment Bank, Inter-American Development Bank and World Bank. “Kenya is...

The Houndé gold mine in Burkina Faso, owned at 90% by Canadian mining company Endeavour, entered construction stage after the firm’s board gave its approval. The firm which started with the licences it had earthworks, said construction works would begin by the end of this month. The company was expected to produce at the Houndé project 190,000oz/yr over a ten-year mine life at a global cost...