Total will continue to invest in Ivory Coast, the Africa director of exploration and production arm of total, Guy Maurice, revealed. “I came to express the confidence of the Total group in the economic future of the Ivory Coast and our desire to continue to invest,” Maurice said. Total is the first company in Ivory Coast in the area of ​​exploration and production, with three licences;...

Tanzania has found an extra 2.17 tcf (trillion cubic feet) of potential natural gas deposits, increasing the country’s total recoverable natural gas reserves to be over 57 tcf. The onshore reserves were discovered at a field licensed to Dodsal Group. The field is situated at Ruvu basin in Coast region, close to Dar es Salaam. “We have learnt that there are huge potentials of hydrocarbons in...

Tlou Energy has announced the startup of gas testing program from the Selemo 1 pilot well in Botswana. The well which is situated at the company’s Lesedi CBM Project has commenced gas testing with the aim of providing proof of a workable gas production rate attainable from the field and develop the first wells flowing commercial rates of gas in the country. With the gas testing in progress and...

Previously planned for January but later postponed, for technical reasons, the listing of Algerian pharmaceutical firm Biopharm has been rescheduled. In a statement published on February 22, Biopharm said subscriptions to its IPO would take place from March 13 to March 23, 2016. Interested investors can subscribe with any of the nine stock intermediaries that constitute the syndicate of...

Moroccan Attijariwafa Bank announced on February 24 it has generated 4.5 billion Moroccan dirhams ($457.34 million) of net profit in 2015, thus 3.4% up from the previous year’s result. “Combining its strategy of diversification of businesses and geographies with its anticipative risk-management policy, Attijariwafa Bank was able to improve its performances in 2015, despite the environment...

Tegeta Exploration and Resources (TER) obtained on Tuesday approval from the Competition tribunal to take over Optimum Coal Mine (OCM) and six other target firms. The authority said the approval was valid only on the condition that there was no retrenchment of employees as a result of the merger. The tribunal backed its decision saying the transaction is unlikely to substantially prevent or...

South Africa’s Democratic Alliance (DA) suggested that government sell its non-strategic assets in Telkom to generate more revenues. In a statement published prior to the speech of Minister of Finance, Pravin Gordhan, on the 2016 budget, David Maynier, a DA’s deputy, said the government “should pursue aggressive fiscal consolidation” so as to face the risk of degradation of rating....

Dakar just officially launched the Support Project to Regional Plan to Control and Fight Fruit Flies in West Africa (PLMF). The €23.5 million project was initiated by the Economic Community of West African States (ECOWAS) and West African Economic and Monetary Union (WAEMU), backed by the European Union and French Development Agency (AFD). According to Paco Sereme, head of West and...

Another strike was just launched at Africa n°1 on February 22, 2016, Gabon Eco reported. The newspaper said the media has gone “voiceless” early in the morning that day. Employees of the radio station initiated this new strike to denounce the degradation of their working conditions since the beginning of the year. Truly, for almost four months now, they have not received their...

As performances are expected to be good in its agriculture and mining sectors, Mali should record this year an economic growth of 6% against 4% in 2015, said Minister of Economy and Finance on February 23. According to preliminary results, Mali produced this season 8.04 million tons of cereals against 6.98 million during the 2014-2015 season. The cotton output which was at 548,000 the past...