Egypt’s General Petroleum Corporation (EGPC) is currently in negotiations with the Kuwait Petroleum Corporation (KPC) for the increase of the amount of crude oil being delivered to Egypt from 2.2 million to about 2.7 million bbls per month. The additional 500,000 BO per month is to be refined in Egypt’s refineries and converted into petroleum products to feed the needs of the local market,...

In Cameroon, towards fast-tracking the start-up of operations at the port in Kribi, the government has granted state-owned Société Camerounaise des Dépôts Pétrôliers (SCDP) and Canada's Blaze Energy Ltd, a contract to fund, construct and operate an oil and gas terminal at its new deep-water port complex. The Port in Kribi which comprises of terminals for container and raw goods is to...

Aureus Mining Inc., gold producing company listed on the Toronto and London stocks and highly active in West Africa will see its Liberian assets portfolio increased from 1,402 km2 to 1,683 km2, following the acquisition of the three exploration licences from Sarama Resources Ltd. The deal which includes the acquisition of three licences adjacent to Aureus’ New Liberty gold mine was made with...

In Africa, mini-grids could very well be the cornerstone that will allow access to electricity to the 620 million Africans currently deprived of it. Indeed, the drop in the prices of renewable energies brought about new perspectives to Africa, experts reveal. According to Francesco Starace from Italian power firm Enel SpA, Africa is just following the same path Europe went on years back....

World leader of inspection and certification SGS announced in a release published on 16 November, that it has purchased the South African company Matrolab which specializes in the review of construction and engineering materials. The amount of the transaction has not yet been disclosed. Based in Pretoria, Matrolab counts about thirty offices and laboratories in South Africa, and subsidiaries in...

Visa has committed to offer Moroccan banks its expertise in terms of social network communication. The banking cards multinational just announced through a release that it just organized workshops for all the banks of the kingdom on the “importance of social networks in their communication”. Based on its own experience, Visa intends to help Moroccan banks develop their digital social...

G20 leaders on November 16, in Antalya (Turkey), adopted OECD’s (Organization for Economic Coorperation and Development) plan to fight multinational tax avoidance. In the final communiqué of their summit, the leaders of the twenty most powerful economies worldwide insisted on a wide and coherent implementation of this BEPS (Base Erosion and Profit Shifting) plan, especially in regards to the...

In Morocco, Acome, the French auto equipment supplier is about to open a plant in Tanger, Al Huffington Post reported on November 16. “The company’s articles were approved therefore allowing for the creation of Moroccan subsidiary,” stated the Acome’s responsible for communication. The Acome Moroccan plant is to manufacture cables for new car beams. Among her potential customers is the...

The South African subsidiary of the German car dealer BMW announced in a release published on November 16, it plans to invest 6 billion rands ($417 million) in its Rosslyn plant (Pretoria suburb), to manufacture its new X3 model. The X3 is a high-class SUV. This model which is one of BMW’s best represents 28% of the company’s total revenues worldwide. The BMW X3 models which are going to...

In Côte d’Ivoire, Compagnie Fruitière just announced it plans to launch a project for production of organic bananas. The French firm, through its new Vice-President Africa, Jean-Marc Gravillini, revealed its project to establish 400 acres of plantations in the Northern and Southern parts of the country. About the financing, the executive stated that “it represents a potential investment of...