Car dealer Mercedes plans to build in Algeria a spare parts-manufacturing unit, Algeria Press Agency (APS) reported on january 12. The agreement related to the construction of this unit was signed during an Algeria-Germany business forum held in Berlin and where was present Prime Minister Abdelmalek Sellal, invited by German Chancellor Angela Merkel, the same source revealed. Similar...

Under the direction of Morocco’s head of State, Abdelilah Benkirane, the investment commission just green-lit 21 investment projects of a total cost of €3.5 billion (38.08 billion dirhams). These investments which will be injected throughout the year come from both international and local firms. Projects retained by the commission should, upon completion, generate 4,467 direct jobs....

The Minister of State for Petroleum Resources Emmanuel Kachikwu on Wednesday announced that Nigeria is to make its first initial public offering of assets owned by the Nigerian National Petroleum Corporation (NNPC) in 2018. “It’s inevitable. Part of the cleaning up process that we’re doing is to prepare for that”, Kachikwu said. He added that the country is to sell the shares in its...

The Federal Government of Nigeria plans to construct hundreds of petrol stations throughout the country. To this effect, it is collaborating with states and local governments as well as private investors to ensure that the crisis in the supply of petroleum products across the country does not reoccur in the future. According to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu...

Telecom operator Telecom Namibia denounced a new act of vandalism on its Erongo fiber optic ring. The infrastructure supports telecommunication traffic between Windhoek and the coastal region and bordering countries. According to the Oiva Angula, director of institutional communication Telecom Namibia, 32 poles were stolen from the telecom’s overhead fibre route between Arandis and Karibib....

Gathered at the general assembly held on January 6, 2016, the employees of the Gabon press agency have decided to pursue work despite the non-payment of salaries. The agency’s website is back online after writing has been stopped, thus confirming that the agency indeed previously ceased all writing activities. Despite the very precarious financial situation of Agp, Gabon’s government denied...

Zambia’s Zesco has announced it has distributed 480,000 energy-saving bulbs over the million it planned to. North-Western, Central and Lusaka’s provinces were the major beneficiaries of the scheme. Henry Kapata, spokesperson of the company said it intended to distribute 650,000 more bulbs to the populations. These bulbs will help the state save about 200MW. A result that pushed Zesco to...

Many of the investment funds that target the African stocks started the 2016 on the wrong foot. The performance for about sixty of these companies which are followed by the Ecofin Agency on Morningstar are all in the red, with a loss in profitability of more than 30%. No segment was spared. Be it the assets management, listed companies, securities investment institutions, profits are plummeting...

The President of the Organization of the Petroleum Exporting Countries (OPEC), Dr. Emmanuel Ibe Kachikwu (photo) on Tuesday revealed that due to the current condition of the global market, some members of the group had requested an emergency meeting. Ibe Kachikwu at an energy conference in Abu Dhabi said that there was a lot of pressure from several member countries for the holding of a...

On January 11, the American investment bank Morgan Stanley warned that the price of barrel of oil could fall to $20 as a result of rising US dollar. “Given the continued US dollar appreciation, $20-$25 oil price scenarios are possible simply due to currency,” said the bank’s analysts in a research note backing this hypothesis with the close correlation between oil prices and...