FAR Ltd, an Australian company active in Eastern and Western Africa, announced on 23 October its intention to raise a total of USD 40 million in equity for its capital expenditure in the Senegal offshore exploration. This is about raising a gross amount of USD 25 million from professional and institutional investors and USD 15 million from eligible shareholders, the oil company listed on ASX...

Toro Gold Ltd, a mining company incorporated in Guernsey, has discovered a 5.6 km gold formation with contents peaking at 0.8 g/t in the Boundiali permit located in the North of Côte d’Ivoire, Predictive Discovery Ltd announced on 20th October. The discovery follows a survey sampling in an area for which there is no gold mineralisation known to this day, Predictive, who wants to sells up to...

At the end of the third quarter 2015, the activity of Société des Caoutcoucs du Grand-Bereby was marked by a drop of 8% in the selling price of rubber and a decrease of 11% in the selling price of raw palm oil, compared the previous year. All things which led to a decrease in its turnover. This negative impact however was limited to -6.6%, thanks to a slight increase in volumes sold (+3.5% for...

In a communiqué, the organisation Reporters without Borders denounced the suspension of Internet access and SMS services in the Republic of Congo since 20th October 2015, from 6 a.m. The suspension of these services came as a prelude to the organisation on this very day of a big demonstrations by those opposing the constitutional referendum scheduled for 25th October 2015. A referendum which...

On 22 October 2015, the historical telecommunications operator Algérie Telecom published a communiqué announcing the occurrence of serious disruptions on its internet network. These disruptions could last several days, leading to major inconveniences for consumers. The cause of the disruptions, according to Algérie Telecom is a break in the sub-marine optic fibre cable Sea-Me-We 4, which links...

The commercial exchanges between Morocco and African countries have registered a yearly increase of 14% on average during the last decade, reaching 37.5 billion Dirhams in 2014 (USD 3.8 billion), equivalent to 6.4% of the foreign trade of the kingdom against 4.1% in 2004, according to official data published on 22nd October. Most of the trade is done with North African countries (58% in 2014),...

The Groupe Industriel des Ciments d’Algérie (GICA) is planning to reduce the cement deficit estimated at over 4 million tons per year with 2 new cement manufacturing plant extensions in Sétif and Chlef, which will start production by end 2016, APS reports. The two extensions, in the cement plants of Ain El Kébira in Sétif and Chlef, will each add about 2 million tons per year, Mr. Ahmed...

Cheikh Bakhoum, General Manager of the State IT Agency (Agence de l’Informatique de l’Etat - ADIE), announced the upcoming launch of 3rd phase of the “mainly Senegal” project which consists in a total country coverage through optic fibre. These are an additional 3,000 km of optic fibre will which be added to the 1,500 km already rolled out by ADIE. In an interview given to the Senegalese...

FAR Limited is raising approximately $40 million through an Equity Raising. The equity raising comprises of a placement of fully paid ordinary shares to raise approximately $25 million and a 1 for 17 underwritten pro-rata non-abandonable entitlement offer of fully paid ordinary shares to existing eligible shareholders to raise approximately $15 million. The Equity Raising is a...

Sudan’s oil minister Mohamed Zayed Awad today reveals that the country has submitted an application to join the Organization of Petroleum Exporting Countries (OPEC). "We have already submitted an application and are waiting for a decision," the minister told Sudan tribune "Now, everything depends on OPEC" he added. The country had for a long time expressed its desire to be a part of the...