In order to be one of the first to provide the 5G technology to its customers, the British telecom firm Vodafone signed a partnership agreement with the infrastructure firm Ericsson. Others partners are associated to the agreement which allows Vodafone to take part into Ericsson’s research. It will also allow the firm to prepare its telecom networks to the transition towards this new mobile...

Private equity firm African Capital Alliance (ACA) announced in a release published on February 15, it has acquired a 49% stake in the reinsurance firm Continental Reinsurance PLC that operates in 44 African countries. The amount of the transaction carried out via Capital Alliance Private Equity IV (CAPE IV), an ACA-sponsored fund was not disclosed. The transaction was possible through the...

TANESCO, Tanzania’s power provider will establish a control-monitoring power station by June 2016. “The system control will report the place where the infrastructure breakdown has occurred in a very short time for the technicians to take immediate measures to restore power availability,” said Mahende Mugaya, one of TANESCO’s official in the Dar-es-Salaam region. The announcement was...

Nigeria’s Securities and Exchange Commisision announced on February 18 the implementation of a committee in charge of advising authorities regarding the issuance of the nation’s first sovereign sukuk. The spokesperson of the Committee, Nalf Abdulsalam said the institution, which regroups representatives of the National Office for Debt Management, was to provide the amount of the sukuk as...

Christine Lagarde has been appointed for a second five-year term at the head of the International Monetary Fund. The consensual decision of the 188 member-states of the organization was predictable considering that the former French Finance Minister was the only candidate to the position “I am glad to have been given the opportunity to lead the IMF as its Managing Director for five more...

On February 18, 2016, mobile operator Zain Sudan, subsidiary of the Kuwait telecom group Zain, received authorization from Sudan’s government to market its 4G services in the country. According to the Kuwait press agency KUNA, an agreement was signed in this regard between the firm’s CEO, Al-Fateh Orwah and director of National Telecom Corporation, Yahya Abdullah. Present at the signing was...

In Gabon, private Medias are pressuring the Minister of Communication so he releases the subsidy they have been expecting for the past 3 months. Finally, Minister Alain-Claude Bilie-By-Nzé responded on February 18, 2016, GabonReview said. “As long as the law is not respected, there will be no subsidy,” said the Minister of Communication. “A number of conditions must be met in order to...

The President of Nigeria, Muhammadu Buhari (photo) has revealed plans to visit Saudi Arabia to hold talks with King Salman on how the crude oil prices can become stable. “Ongoing efforts by Nigeria and other members of the Organization of Petroleum Exporting Countries to achieve greater stability in the price of crude oil exports are expected to be high on the agenda of discussions,” he...

Petroceltic International in its operational update on Monday revealed that development drilling has commenced on the Ain Tsila gas and condensate field in Algeria. The just constructed SINOPEC Rig 50117 which was received on the Isarene permit in November 2015, was assembled on site and has successfully passed acceptance testing. The rig has now drilled the development well AT-10. The AT-10...

The Egyptian Ministry of Petroleum has given the Egyptian Natural Gas Holding Company (EGAS) the directives to grants Eni the Zohr Development Lease. This lease makes provision for the development of the gas field, situated in the Shorouk Concession, offshore Egypt. The development plan predicts the commencement of production by the end of 2017, with a progressive increase till a capacity of...