Manitoba Hydro International (MIH) has been selected by the Liberia Electricity Corporation (LEC) to operate contract for its management. Peter Graham, the chief executive of the company who made the announcement revealed that MIH in addition to taking care of LEC’s management will be investing in it. The company, under the contract, will in the mid-term be managed by MIH who will insure that...

Ghana has banned imports from Nigeria and other countries from which it gets crude oil amongst many other products. According to Ekwow Spio-Garbrah (photo), Minister of Trade and Industry, Ghana and Nigeria’s trade, account for approximately 68% of the region’s gross domestic product (GDP). He added that Nigeria had the advantage in the transactions. Nigeria accounts for about 10% of...

In Angola, re-export of food products has been banned. This decision was taken by the government’s economic team. According to Macauhub, this was decided as a result of massive re-export of products initially imported for local consumption. This situation which has been present for months now mainly involves sugar, rice, beans, corn flour or cooking oil. Angolese Minister of trade said the...

In the coming weeks, Tunisia will issue a Eurobond ranging between €750 million and €1 billion, Reuters reported on Feb 19 citing an official source. “We will go to the international market in few weeks. It should be between mid-March and May 2016, for between 750 million euros and 1 billion euros,” the official told Reuters, indicating that funds collected after the...

Interwaste has inaugurated South Africa’s first refuse-derived-fuel (RDF) plant, which makes fuel from nonrecyclable materials, such as plastic, in so doing decreasing waste to landfill. “In line with global best practice, Interwaste continually invests in innovative solutions that have the most environmentally sound waste management [practices] at its core. It is with this in mind and with...

After the World Bank, the International Monetary Fund and the rating agency Moody’s, the Organization for Economic Cooperation and Development (OCDE) on February 18th scaled down forecasts for global economic growth. The Paris-based Organization has indeed slashed, for the second time in three months, its forecasts for global growth. It has scaled the figure down to 3%, against 3.3% last...

Oil prices dropped on Friday as talk of plans to freeze production levels was altered by an increase in U.S. crude records, Reuters reports. Brent futures dropped by 35 cents at $33.93 a barrel on Friday morning with U.S. crude falling by 36 cents to $30.41. Oil prices increased by over 14 % this week driven by Saudi Arabia and Russia's decision to freeze production at January...

ASKY, the Pan African Airline informs its esteem passengers that due to rehabilitation work of the Douala International Airport, the Airport will be closed following communique from authorities from 1 st to 21st march 2016. ASKY, wishes to reassure passengers that the airline in collaboration with the authorities have made all necessary arrangements to ensure continuity of service and flights...

Zambia has closed its only 24,000 bpd Indeni refinery, after discovering that the crude oil supplying the plant was too acidic to process, Reuters reports. According to the country’s Energy Minister, Dora Siliya, another crude supplier had been found and the refinery will come on stream in about a month. Built on January 1, 1973, Indeni supplies half of Zambia's refined products. Located in...

Kenya is planning to transport its crude oil to Mombasa by road and railway as it make moves to join the export markets before the commencement of the general election scheduled for August 2017. The Energy ministry has granted Rift Valley Railways (RVR) the contract to transfer the oil from as February 2017 through a distance of over 800km, from Eldoret to the Kipevu-based Kenya Petroleum...