Bowleven on Thursday, announced that subsequent to the installation of testing equipment, the Zingana well, situated on the Bomono Permit in Cameroon, has begun the flow of hydrocarbons. The extended well testing program at Zingana was aimed at determining the productivity and connectivity of the shallower reservoir units. The units, are anticipated to provide the base for the first supply of...

Centrafrique telecom regulator (ART) reached out to mobile operators Moov, Orange, Telecel, and Azur regarding the poor quality of service in the country. Many members of the government during their campaigning, for legislative and presidential polls to be held on December 27, 2015, in provinces far from the capital, Bangui, complained about difficulties with the various mobile networks....

Since its establishment in 1993, the Côte Ouest Audiovisuel Company has been sub-contracting dubbing for movies, series, drama, and other content which it broadcasted in Africa and elsewhere. The company has now decided to do the dubbing itself. Côte Ouest has started dubbing in its Abidjan-based Ivorian subsidiary, Studio 1, Ivorian company established in 2013 and specialized in...

Algerians might be able to access 4G during Q1 2016. They will hence enjoy a broadband of more than 50Mbps, required for streaming, fast downloading, Voice over IP. Algeria’s minister of Posts, Information and Communication Technologies, Imane Houda Faraoun, announced this during the “40 years of spatial telecommunication at the service of citizen” ceremony organized by Algérie...

Paladin Energy Ltd, listed on Australian, Canadian and Namibian stock exchanges, announced on December 15, it has repurchased $6 million of its convertible bonds. The convertible bonds will mature in 2017 with an interest rate of 6%, said the uranium mining company who owns 75% of Langer Heinrich mine in Namibia. Repurchasing the bonds cost about $5.6 million and will help the...

Kenyan Uchumi said it will issue a billion additional shares to attract an investment of 5 billion shillings. The transaction which could grant a majority of capital to a sole investor aims to reverse a trend causing the firm to lose shares as a result of the various mistakes made by former management. If successful, the issuance would allow the supermarkets chain to have a financing which is...

Sub Saharan microfinance markets should grow by 15 to 20% in 2016, a recent report published by world’s biggest microfinance private investor, ResponsAbility, revealed. Sub Saharan Africa comes behind Asia Pacific which should grow by 30% over the next year, as a result of the impressive expansion of microfinance markets of Cambodia and India. Central Asia and Caucasia should however register...

Nigerian president Muhammadu Buhari unveiled on December 22, a record state budget for 2016 which aims to revive an economy weakened by the fall in prices of oil.    Capital expenditure tripling as compared to 2015 was fixed at N1.8 trillion thus 30% of the N6.09 trillion ($30.8 billion) budget. “We trust that this budget, while reviving industry, trade and investment, will also...

Total towards its first step in opening fuel stations in the southern African nation, has announced that it has entered into a Memorandum of Understanding (MoU) with Sonangol. The government of Angola had in October revealed that it is restructuring its oil sector and state-owned Sonangol, but did not disclose further details. According to Total spokesman, the MOU signed by Patrick Pouyanné,...

Towards advancing on plans for the completion of the Lobito refinery site, that was postponed due to rising costs and financing problems, Sonangol has announced that it has signed a contract with Eni. Under the contract, Eni is to provide its expertise in the downstream sector to complete the site, which was supposed to have been completed four years ago. The two companies have agreed...