Soon, Morocco will be providing world’s cheapest wind energy. This was announced by Abderrahim El Hafidi, general secretary to Morocco’s ministry of energy, during the Abu Dhabi international conference on renewable energy. This affordable energy will come from the 850 MW wind farm which will be implemented by Nareva. It will be sold $25-$30 per Mw/h thus $30 cents less than...

In a release dated January 19, 2016, published on dakaractu.com, telecom operator Sonatel, Orange’s subsidiary, explains the reasons for not submitting offer for 4G licence to regulator ARTP. According to the company, ARTP’s requirements for the acquisition do not allow him and all other involved parties to create value in view of implemented benchmark. “For example, in Morocco, 2 out the...

In Zimbabwe, tobacco exports generated $855 million up 11% compared to the previous year. This is due to the higher cost for the commodity and higher demand from China. The country exported 152 million kg in 2015 against 136 million kg the year before. However, Zimbabwe will hardly be able to keep on this trend despite the stable demand from China. This as a consequence of the El Niño...

Heerema Fabrication Group, on Wednesday announced that the Alba B3 topside and jacket have been successfully installed at the Alba field, offshore Equatorial Guinea.  The 5,800-tonne topside is 40 meters long and 40 meters wide with the height reaching 35 meters while 33-meter-long, 4-legged jacket is 33 meters wide and 81 meters high. The topside, was paired with the 91-meter...

Mauritian company Ignite Power Ltd signed with Rwanda an agreement to provide electricity to 250,000 households with solar systems. The project will be implemented over five years and cost $50 million which will be fully financed by Ignite. “Distributing these solar kits will allow Rwanda to overcome the limitations of its power grid and rapidly provide populations cheaper electricity....

In Sudan, Finance minister, Badr al-Din Mahmoud (photo), on Wednesday said they will not reduce the fees being paid to them by Juba for the conveyance of South Sudanese oil through the northern pipelines. "The transit fee for South Sudan oil is governed by an agreement signed in September 2013, so it will not be amended or renegotiated," Badr al-Din said. The South Sudanese Government had on...

Algeria's Energy Minister, Salah Khebri (photo), on Wednesday announced that OPEC and non-OPEC members need to meet and deliberate on the reduction of oil production together, as U.S. crude reach its lowest since 2003 amidst oversupply. Khebri revealed that talks are ongoing to see if there would be a special OPEC meeting to assess the current oil situation. Oil prices have dropped...

Rating agency Fitch Ratings forecast a negative outlook for banks in sub Saharan Africa for 2016, as various risks put pressure on the sovereigns of the States of this region. “Falling commodity prices, faltering GDP growth, weaker currencies, greater political risks and external factors are to varying degrees putting increasing pressure on SSA sovereigns and therefore bank risk profiles,”...

On January 19, the spokesperson to presidency, Alaa Youssef announced that Egypt’s government intended to list shares of a certain number of banks and state-owned companies on Cairo bourse. “The coming period will witness offerings of part of capital of successful Egyptian companies and banks on the bourse,” Mr. Youssef said at the close of a meeting between President Abdel Fattah and...

Nigerian National Petroleum Corporation (NNPC) has revealed that the oil pipelines that conveys crude oil to refineries in Niger Delta have been shut in, following attacks late last week. “We shut in the pipelines as a result of the weekend development, please note that this is different from shut down,” NNPC’s spokesman Ohi Alegbe said. The spokesman debunked reports that the refineries...