French shipping company CMA CGM just deployed big container ships with a capacity of 10,000 TEU (Twenty Feet Equivalent Unit) between Asia and Africa to better respond to the rising trade between these continents. This was revealed by Le Marin on March 21. Among the new big neo-panamax vessels are some bareboat chartered-in container ships. The ships are named after the children of Jacques...

In a statement published on March 16, the African Development Bank (AfDB) announced it would grant Gabon $1.38 billion between 2016 and 2020 to support its development plan. The funding will be injected in projects under the Country Strategy Paper/CSP 2016-2020 approved by World Bank and Gabon. AfDB will mainly support the Strategic Plan for an Emerging Gabon (PSGE) and the Social Pact...

Following the rocket-propelled grenade attack on Statoil and BP’s In Salah gas plant gas plant on Friday's in Algerian by Islamic militants, the two companies have decided to remove staff from their two gas plants in the country. Al Qaeda's North Africa branch had on March 19th 2016 claimed responsibility for the attack on the gas plant as part of its war on the Crusader interests everywhere....

Nine ships laden with petrol, diesel, base oil, butane, Aviation Turbine Kerosene and aviation fuel arrived Lagos ports, waiting to be discharged. According to the Nigerian Ports Authority (NPA) in a document issued on Tuesday, 20 ships carrying petroleum products, food items and other goods were anticipated to be received at Apapa and Tin-Can Island Ports from March 22 to April 18, 2016. NPA...

In a report published on March 15, Research and Markets revealed that about $125 billion of African HNWI wealth is tied up with private banks. “The Africa 2016 Wealth Report” as it entitled also said African HNWIs, South Africans excluded, with at least a million dollar, outside their main residing place, “tend to keep their funds in traditional holding centers such as the UK, the...

Mass retailer CFAO Group is about to start construction of 20 new generation malls in Africa. The project which costs $500 million will be implemented in countries such as Cameroon, Democratic Republic of Congo, Gabon, Senegal, Nigeria and Cote d’Ivoire. CFAO will develop the project through SGI – its subsidiary in charge of development and property management. Under the project, CFAO...

Twenty-seven petrol stations have been shut down in Kenya as the Energy Regulatory Commission (ERC) enforce restrictions on the sale of mixed fuel. According to ERC, the stations were either caught for selling fuel mixed with kerosene or for averting fuels intended for export to the local market. Diverting exports products into the local market causes loss of revenue in unpaid taxes. Then...

The Government of Gabon has prolonged the deadline for the presentation of bid of the 11th Gabon Deep Water Licensing round, French seismic company CGG revealed. The licencing round which was officially launched on October 27th 2015 was open for five months starting October 27, 2015, and the submission of bids were initially from February 15, 2016 and to end no later than March 31, 2016,...

In Egypt, four anonymous companies are currently in talks with the Egyptian Natural Gas Holding Company (Egas) for the importation of natural gas for supply to the domestic market. According to the company, negotiations are ungoing with the companies in order to provide them with the essential data needed to give them the first approval pending the time the law regulating gas imports is...

Facebook and Twitter are in the run to buy TV rights, Reuters reported indicating that both social networks approached various programmers to secure content rights. “Our goal with live video is to work with our partners to move to a sustainable monetization model quickly,” Facebook told Reuters. “We are not focused on acquiring the rights to conventional TV programs”, Zuckerberg’s...