A funding agreement valued at €85 million was just signed by European Investment Bank (EIB) for the interconnection of power networks in West Africa. The funding is to go to the Organization for Valorization of Gambia River (OMVG) so as to connect Senegal and Guinea which will respectively obtain 20 and 65 million euros. The interconnection project will extend over 925 Km and once...

Commercial Bank of Africa (CBA) and Agence Française de Développement (AFD) have signed a €10 million (Sh1.08 billion) funding agreement for renewable energy projects in Kenya. This money is to be loaned to businesses, interested in investing in renewable energy technologies which includes small hydro, biomass, biogas, solar, geothermal and energy efficiency measures. The loan is part...

Sasol on Wednesday announced that its empowerment unit, Sasol Inzalo Public, has been granted permission to be listed on the Johannesburg Stock Exchange (JSE)’s main board. The company was given the go ahead on Tuesday after all the required approvals were received. According to IOL news, its shares on the JSE were...

Engen’s efficiency in delivering reliable service in Swaziland has been compensated as the Swaziland Railways names the company “Supplier of the Year”. This prize was presented to the company at the Royal Villas at e Zulwini on November 4, 2015. It was received by two of Engen’s team members; Banele Cindzi and Thandeka Nkomo who were proud to...

Penspen has been awarded a contract by Sirius Group to carry out an engineering study for the monetization of gas reserves from oil fields, offshore Niger Delta. The aim of the agreement is to develop the gas reserves of the OML-122 field, in the Niger Delta region, 40 km from the shoreline, South of Nigeria. The study is part of Project Dawn. It is a three-year...

In Equatorial Guinea, the Ministry of Mines, Industry and Energy, has said that the country’s gas company Sociedad Nacional de la República de Guinea Ecuatorial (SONAGAS), is to commence the marketing of its share of Liquefied Petroleum Gas (LPG) which was produced at the Alba Plant situated on Bioko Island to international buyers. Indeed, negotiations...

Amara Mining Plc, gold exploration group with assets in West Africa, has re-evaluated resources at its Yaoure property in Côte d’Ivoire to 7.3 million ounces with an increase of 20% in grade to 1.5 g/t. The London-listed gold mining company which owns 100% of the Yaoure project publicly released this update on November 24. Commenting on the update, CEO of Amara Mining, John McGloin said it...

While traditional telecom operator Maroc Telecom delays in the release of its full unbundling offer as required by the National Agency for Telecom Regulation (ANRT), mobile telephony operators have started investing in ADSL. In fact, Inwi just launched its first offer for fixed-line broadband Internet named I-Dar ADSL for individuals. This service offers customers an unlimited access to...

On November 23, 2015, the Moroccan refiner (SAMIR) submitted to the Casablanca trade court, a non-adjudicative resolution procedure. In case it is successful, this initiative, in regards to Morocco’s business legislation, could allow the firm to get rid of its creditors namely Morocco’s government, for a certain period of time. The final decision as to approve the appeal therefore lies in...

Lesotho is the country which has the lowest total average tax rates for businesses, the Paying Taxes 2016 published by PricewaterhouseCoopers (PwC) and World Bank reports on November 19. Based on the 2014 tax legislation which defines a model-business, the report which evaluates annual taxes and compulsory contributions of small and medium enterprises (tax on profits, contributions and social...