Unlike announced earlier on, the 4800 MW Inga III hydropower dam of DR Congo will start operating in 2024/2025, as compared to 2020/2021 before. This is what Bruno Kapandji, the head of the congolese agency in charge of the project, told Reuters on July 3, 2017. "We are working for this timing (in 2024 or 2025) now that the potential developer has been identified," he said. Indeed, last month,...

The Nigerian National Petroleum Corporation (NNPC), has said that for the past one year, it has saved $2billion by renegotiating upstream servicing contracts as part of its quest to continually reduce the high cost of production in the industry. “For the upstream, cost reduction and efficiency are key features that we will pay attention to,” Maikanti Baru (photo), the Group Managing...

To insure food security in Gabon, boosting access to land is a must. This was one of the main recommendations that emerged from the conference on agriculture held from June 28 to July 1, in Libreville. It was in this framework that the government decided to identify all agricultural lands in order to secure and later make them accessible to farmers. However, prior to that, a law to restructure...

Nigeria has been advised to explore renewable energy by using its untapped energy sources, estimated at 93, 950MW, as the country’s energy sector is currently experiencing a chronic crisis. “Nigeria has an untapped potential to produce 93,950MW from carbon-emission-free energy sources, which include small and large hydroelectric power plants, 68 percent and nuclear power, 21 percent. Also,...

Seplat Petroleum Development Company PLC, a leading Nigerian indigenous oil and gas company, says that its three-year revolving credit facility which was expected to expire at the end of 2017 has been successfully extended till December 31, 2018. According to the group, the credit facility has also been restructured to enable it to pay the outstanding debt of $150 million in equal...

Orange and Vodafone Group, amongst other potential buyers, have showed strong interest in acquiring Etisalat Nigeria’s 65% stake. Including the two telephone operators, more than five companies have showed interest in purchasing the shares of Etisalat Nigeria. This is after talks to restructure a $1.2 billion loan failed prompting the major foreign shareholder, Etisalat Group, to exit...

The Ministry of Budget and National Planning and the Sub-Regional Office for West Africa of the Economic Commission for Africa (ECA) have launched Nigeria’s 2016 Country Profile. Launched in Abuja, the initiative is aimed at providing analysis and recommendations vital to the country’s drive towards economic and social transformation. The new country profile highlights Nigeria’s major...

Last Friday, the national assembly of Senegal has adopted the law to legalize precarious land titles. At the occasion, the minister of economy, finance and planning, Amadou Ba, has revealed that only 122,000 land titles have been issued in the country since 1932. “It is quite difficult to secure a land title. The first deed was issued in 1932; and legislation regulating the process was...

Recent data from the Central Bank of Nigeria (CBN) has shown that Nigeria’s external reserves increased by $4.18 billion to $30.3 billion at June 29, 2017 from the $26.097 billion at the beginning of the year, a 14.8% improvement from the $26.34 billion recorded in June 2016. Nigeria, Africa’s second most populous country, is currently in its second year of recession...

The Government of Plateau has earmarked N38billion ($109.8million) for the construction of 16 roads this financial year to support rural development and improve the state’s economy, according to Pam Dongs, Plateau commissioner for Works and Transport. He said measures had been taken to ensure that the contracts for the planned roads were awarded to the right contractors. “We are going to...