The economic growth should slow down in 2015, to reach 4.9%, due in part to a drop in manufacturing output, announced the International Monetary Fund (IMF) in a communiqué published on 17th September. "After an exceptionally high growth in 2014, year in which the real gross domestic product (GDP) progressed to 7.2%, in 2015 forecasts would plan on a rate of 4.9%, a level closer to the historic...

The call centre operator Xceed Morocco, subsidiary of the historical telecommunications operator Telecom Egypt, has just strengthened its Moroccan branch through the inauguration of a new site on the Casanearshore complex, the outsourcing business park in Casablanca, and the signature of an agreement with the National Employment Agency (ANAPEC). Through these two actions, Mohamed Lotfy, Managing...

The African Bank of Development (AfDB) announced, in a communiqué published on 17th September, having granted Morocco a loan of € 112.86 million intended for partly financing the construction of the Nador West Med port complex. This loan, accorded to Société Nador West Med (SNWM), with a guarantee from the State, will be used more precisely to finance the construction of port...

Bissau Guinean President José Mario Vaz officially announced, on 16th September, having tasked the majority party with choosing a new Prime Minister, in compliance with the provisions of the Constitution. The decision to entrust the majority party with the choice of the prime minister is meant to help turn a new page on the new political which the old Portuguese colony with a history of coups...

The minister of Posts, Information Technologies, Communication and Media, Nestor Bankumukunzi, visited the National Office of Telecommunications (ONATEL) of Burundi on 15th September 2015. At the end of this visit, the minister lamented the dilapidated aspect of the equipment of the national telecoms operator, recognising that this situation ensues from the absence of investment for some years...

Burkina Faso is not led by a person close to deposed President Blaise Compaoré. General Gilbert Diendéré, ex-Chief of Defence under Compaoré, was appointed on Thursday 17th September at the head of the National Council for Democratie (CND), new power put in place by the putschist soldiers who removed President Michel Kafando and dissolved the government. “Brigardier General Gilbert...

The European Union (EU) has just exempted from customs clearance duty an annual quota of 35,000 tons of olive oil from Tunisia. The measure which will be effective until 2017 was presented by Brussels as “a strong signal of the solidarity of the EU with Tunisia” following the recent attacks which greatly affected the Tunisian economy. “This initiative is the result of the commitment of the...

Shell Petroleum Production Company, (SPDC), Nigeria’s oil major has announced that over 110,000 barrels of crude estimated to worth $5 million was lost daily to activities of oil thieves and pipelines vandalism. This was disclosed by the General Manager, External Relations, Shell Nigeria, Mr. Igo Weli (picture), during a one day seminar in Warri, Delta State. Weli revealed that aside the...

Oil exploration in the Keta Basin according to Philip Liverpool, Director Commercial, Kosmos Energy has become unappealing under current inflexible conditions governing the business in Ghana. This he said at a media training session for editors on oil and gas in Accra stating that the prospect for oil in the Keta Basin was hindered because it has become unprofitable given the huge investment...

South African oil companies and Iranian officials are to meet next month in order to discuss the resumption of oil imports. Deputy Energy Minister Thembisile Majola (photo) stated that South Africa was planning on building a crude oil refinery and that Iranian crude oil would be refined there to add to the existing liquid-to-gas plant in Mossel Bay. Iran used to be South Africa's biggest oil...