The government of Zimbabwe has decided to impose taxes on the 300,000 black farmers that benefited from the agrarian reform established in the 2000s by President Robert Mugabe, state-run newspaper The Herald reported on November 16. These farmers who were just awarded lands expropriated from white farmers will have to pay a leasing fee as well as a tax of 3-10 dollars per acre/yr. These taxes...

Towards addressing energy efficiency measures in companies and organisations in Uganda, the French Development Agency (AFD), has announced that it has reserved $13 million for concessional funding through its Sustainable Use of Natural Resources and Energy Finance initiative (SUNREF) programme. The project is aimed at helping the country save energy. Therefore companies or organisations...

Towards monitoring sharp practices by oil marketers throughout the country, the Nigerian National Petroleum Corporation (NNPC), has begun a daily publication of the supply chart of petroleum products in the country. According to Justin Ezeala, the Executive Director, Commercial, Pipelines and Product Marketing Company (PPMC) the regular dispatch report is to feature all product distributions as...

In Kampala, the World Bank has today advised the governments of Uganda, Kenya and Tanzania, to develop insurance measures to protect against unstable oil prices as they get ready to commence production. At both national and global markets, the prices of oil and gas regularly affect the cost of goods and services. While Uganda has oil and gas deposits, Kenya has oil and Tanzania has huge deposits...

In South Africa, the public company Eskom has announced that it could raise between USD 750 million and one billion through the issuance of an international bond. According to Anoj Singh, the Financial Operations Manager of the company who talked to Reuters, the amount raised will depend on market conditions. The manager added: “Every time we will have the opportunity to resort to the...

In Benin, the 2015-2016 cotton season has just been launched. Among the novelties for this season is the increase of FCfa 10 per kilogram in the buying price which is now of FCfa 260. It is however worth noting that the country will sell less cotton after a harvest estimated at 324,000 tons, a decrease of 69,000 tons compared to the previous year. “The fundamental reason for this drop in the...

South African investors are now wondering on the opportunity of investing in Nigeria, when the telecommunication group MTN, headquartered in Johannesburg, is under a USD 5.2 billion sanction imposed on its Nigerian subsidiary since mid-October. Attracted by a very large market and the growth potential offered by the first economy of Africa, most South African managing directors have always...

In Nigeria, Eland Oil and Gas Plc. in its operation update on Tuesday, announced that it has significantly boosted its existing output rate by 50%. After the completion of rehabilitation works on the Opuama-1 well, the Opuma field situated 92km northwest of Warri is currently producing oil from 4 strings within two wells, therefore increasing the average gross production output to 4,400 bo/d....

Tullow Oil in its drilling update on Tuesday announced that the Emesek-1 exploration well in Block 13T situated in the North Lokichar basin, North of Kenya, came across no commercial hydrocarbon. The well which was drilled to a total depth of 3,000 metres by the PR Marriott 46 rig is to be plugged and abandoned. The rig is to then sail to the South Lokichar basin to drill the Etom-2 well. The...

Rosneft has signed an agreement with the Egyptian General Petroleum Corporation (EGCP) for the supply of petroleum products. The document which represents the extension of the agreement reached by the two companies in July of this year foresees the delivery of 6 combined cargoes of Fuel Oil and Light Circle Oil (LCO) by Rosneft to the Egyptian company between November and December 2015. The...