The French Development Agency (AFD – Agence Française de Développement) granted the African Export-Import Bank (Afreximbank) a credit line of € 100 million aimed at promoting trade in Africa. The financing agreement was signed on 18th September in Cairo by the president of Afreximbank, Jean-Louis Ekra and the Director the AFD Egypt Bureau, Stéphanie Lanfranchi (pictured). “The goal...

Resolution of the crisis in Burkina Faso is becoming clearer. The military has sided with the democratic interim government and has converged on the capital. Entering Ouagadougou without violence, it surrounded the putschists and is negotiating for their surrender. "We now need the surrender of the RSP, without firing a shot, without spilling any blood", declared Colonel Serge Alain Ouédrago,...

enya is hopeful that a route agreed upon by Presidents Uhuru Kenyatta and his Ugandan counterpart Yoweri Museveni will yield good result despite opposition from holders of blocks in the Albertine basin. According to Martin Heya the commissioner of petroleum at the Ministry of Energy, Kenya is working on achieving various requirements such as guarantees to security, route optimization and...

“If you want to go fast, you move alone, but it you want to go far, you have to go with others.” It was in those terms that Amadou Moustapha Djibo, president of the National Breeders Trade Union of Senegal (Union Nationale Interprofessionnelle des Semences du Sénégal - UNIS) explained the decision of different rival factions of the national breeding sector to gather in this association....

BMCE Bank announced in a communiqué published on 21st September having made a net profit of 1.1 billion dirhams (USD 114 million) for the first half 2015, up by 18% compared to the same period in 2014. The banking group founded by Moroccan billionaire Othman Benjelloun (photo) also explained that its Moroccan activities contributed up to 64% to its net profit while the contribution of its...

In a bid to put a stop to international arbitration Egypt’s Minister of Petroleum, Tarek El Molla (photo), Spanish firm Fenosa, and the UK’s BG Group are in continous talks. Egypt was plunged into arbitration by the two international firms due to the suspension of the gas supplies to their respective LNG plants for export. Both companies are also insisting that the Egyptian government allow...

A firm working for Ecuador’s government has announced that it is set to enter talks with the Nigerian National Petroleum Corporation (NNPC) over a prospective investment to buy 100,000 bbls of light sweet crude from Nigeria, Energymix reports. According to Victor M. Rojas, president of Power-Tech Engineers which provides engineering services for Ecuador’s main refinery, the country is in...

Toward the aim of expanding its footprint in sub-Saharan Africa Engen an Africa-based energy company focusing on the downstream refined petroleum products market and related businesses has said it is increasing its presence in Mozambique through an antagonistic retail expansion. Petroleum Africa reports The company is set on opening three service stations, one in Maputo and two in Inhambane....

Côte d’Ivoire saved FCfa 21 billion (€ 32 million) since beginning 2015 thanks to the removal of thousands of fictitious civil servants, reports AFP on 18th September, citing an executive from the Ivorian ministry of Public Service. “Savings of FCfa 21 billion were made in 2015, thanks to our policy of modernisation of the public service”, declared the Deputy Chief of Staff of the...

In Senegal, the Radiodiffusion Télévision Sénégalaise (RTS – Senegalese National Television) has been given a formal notification by the National Audio-visual Regulatory Council (CNRA). The regulatory institution is reproaching the public media for the broadcast of “images of an extreme violence which infringe on the honour, integrity and dignity” of the ex-president of Chad, Hissène...