Simba Energy together with its farm-in partner Essel Group ME, have decided that the 2D Seismic Data Acquisition and Processing program for Block 2A in Kenya will begin in early May 2016. According to Simba, preliminary field work and mobilization is expected to begin in mid to late April 2016 prior to the full survey which will cover about 500 line km and the work set is expected to last about...

Sonatrach is offering foreign firms direct negotiations to purchase interests in 20 oil and gas fields in an effort to attract investors and boost production, a source at the company revealed. Algeria is also currently discussing with EU officials as regards organizing a summit in Algiers in May, which will talk on energy investment opportunities in Algeria, as EU leaders are planning to...

Board of directors of West African Development Bank (BOAD) met for its 100th ordinary session at the headquarters of Central Bank of West African States in Dakar, Senegal. Christian ADOVELANDE, President of the Board and also BOAD’s, presided the meeting. During the meeting, the board approved the record of its 99th meeting held on December 14, 2015 in Niamey, Niger. It also approved the...

In Algeria, as part of efforts to boost output, Sonatrach has granted a $100 million contract to five foreign firms for the supply of oil and gas drilling tubes. The companies include German-based CCC Machinery, Dutch-based Van Leeuwen, France’s Vallourec Tubes, Kurvers Piping also in France and China’s High Sealed & Coupled. Algeria’s economy has been affected by the 70% drop in...

Board of Tunisian insurer Star Assurances met on March 22, 2016 and offered to share a dividend of 9.20 dinar per share against 3.4 dinar in 2014, thus hiking 171%. The new dividend could be issued by paying 40% of 2015’s results, excluding exceptional disposal of share, and bonus of 25% on this transaction’s plus-value. 2015 was a good year for Star Assurances. The company had its accepted...

Launched in 2015, TEEP is the largest African philanthropic initiative devoted to entrepreneurship and represents a 10-year, $100 million commitment, to identify and empower 10,000 African entrepreneurs, create a million jobs and add $10 billion in revenues to Africa’s economy. Over 45,000 entrepreneurs from 54 African countries applied, nearly doubling the number of applications...

Mobile operator Sotelma-Malitel signed last week a partnership agreement with the National Employment Agency (ANPE). Through this agreement, Sotelma-Malitel will create 2,000 jobs in Bamako, Mali, via its mobile money transfer service, MobiCash. Director General of Sotelma-Malitel, Mohamed Morchid, said the partnership will give a new dynamic to Mali’s strategy to fight youth unemployment and...

Madagascar will soon have a 30 MW- 40 MW solar power plant. The infrastructure will be constructed as part of of the Scaling Solar program from which Zambia and Senegal benefited. The government of Madagascar and International Finance Corporation (IFC) signed an agreement regarding the establishment and submission offer of a solar energy partnership. “The project relies on a clean and readily...

Richelle Bielle, chairman of CFAO’s board said the company decided to prioritize its Ivorian brewery project which should be completed next year. The executive made the announcement after meeting with Cote d’Ivoire’s Prime Minister, Daniel Kablan Duncan. “The CFAO group, besides the Marcory project with Carrefour, is also building various malls in Cote d’Ivoire. However, the most...

Nigeria has awarded 22 licences for modular refineries with a joint capacities of 1.429 million bpd to private individuals, Sweet Crude news reports. According to the Department of Petroleum Resources (DPR), the government is making moves to boost domestic refining capacity through other alternatives like modular refining, following the inability of the nation’s refineries, with combined...