The Algerian state-owned company specialized in the construction of railway infrastructures IFRAFER and China Railway Construction Corporation (CRCC) signed in Algiers on Feb. 15 a Memorandum of Understanding for the establishment of joint venture specialized in the construction of railways, APS reports. The agreement was initialed by INFRAFER’s CEO, Slimane Bouchama, and deputy director...

Over the past two years, African subsidiaries of Maroc Telecom (Itissalat al Maghrib) have become more significant. Indeed, in 2013, these subsidiaries generated a global turnover of 7.75 billion dirham, about 27.5% of Maroc Telecom’s overall turnover (28.55 billion dirham). In 2015, the subsidiaries made 14 billion dirham, thus 41% of overall turnover, 34.14 billion dirham ($3.48 billion)....

Brent oil on Wednesday traded near $32 as shareholders wait to see if Iraq and Iran will cooperate with plans by Saudi Arabia and Russia to freeze production at January levels. Saudi’s Oil Minister Ali Al-Naimi had said that the deal to freeze production at January levels is the start of a process that will involve other moves to stabilize and improve the market. “Iraq and Iran are the...

Savannah Petroleum on Wednesday announced that it has entered into a framework contract with BGP Niger to provide 2D and 3D land seismic acquisition services regarding the R1/R2 and R3/R4 Product Sharing Contract (PSC) license areas on the Agadem Rift Basin in South east Niger. The Company expects works under the contract to begin in H1 of 2016, Energy-pedia reports. The blocks covers a c.13,...

OPEC members Saudi Arabia, Qatar and Venezuela, as well as non-OPEC producer Russia, have at last decided to keep production at January levels. “Freezing now at the January level is adequate for the market. The producers don’t want significant gyrations in prices, we want to meet demand. We want a stable oil price,” Ali Al-Naimi Saudi’s Oil Minister said. Although the production freeze...

ERHC Energy in its operational update on exploration progress in Kenya Block 11A, where plans are ongoing to drill the Tarach-1 exploration well close to the end of Q1 of 2016, announced that the rig to be used is currently being dispatched to the site where concreting work and installation of conductors have been completed.  According to the company, the contractors have concluded more...

Egyptian president Abdel Fattah Al Sisi said the construction of the country’s first nuclear plant would begin next month. “We have reached an unprecedented level in the development of our national power grid. We are organizing to face the upcoming growth of demand in energy and it is in this framework that we signed the contract for the construction of the Dabaa nuclear plant. Construction...

Kenya Airways, accumulating losses for the past three and a half years, has selected the American investment bank PJT Partners to advise on long-term capital-raising and restructuring of balance sheet, Reuters reported on February 16. “PJT Patners which offers strategy, restructuring and fund-raising services will work with us over the next sixth to nine months, said the airline’s chief...

Mobile operator Vodafone has launched its Ready Business Meter service to help companies better address technological challenges inherent to the Egyptian market, dailynewsegypt.com reports. This is a metric that will measure the technological preparedness of companies. If weak, the telecom company tries to raise it so as to boost profitability both operational and financial. According to...

The Ethiopian minister of water, irrigation and energy, Motuma Mekasa, announced that construction of Grand Renaissance dam was to immediately restart and competed. The official said there was no reason for works to be halted. Expected to be completed in 2015, the 6,000MW electric dam will have a 63 billion m3 reservoir which is even the reason for delay in construction. Indeed, Egypt fears...