Nexans S.A. a French company which manufactures copper and optical fiber cable products for the infrastructure, industrial and construction markets, says it has secured a deal to deliver static umbilicals for subsea development of the Taurus and Libra fields as part of BP’s West Nile Delta off Egypt. Sweetcrude reports The Taurus Libra field is the first development in the West Nile Delta area...

South Africa’s mining entrepreneur Patrice Motsepe announced he has established an energy and power company, African Rainbow Energy and Power (Arep), which will be headed by former Eskom CEO, Brian Dames. The aim of starting the power company was to help bridge the current energy gap in Sub-Saharan Africa while encouraging public-private partnerships in the region’s energy sector, ESI-Africa...

SacOil Holdings, has through its subsidiary Mena International Petroleum Company, announced the commencement of phase 2 of the field development operations at its solely owned Lagia oil field in Sinai, onshore Egypt. Energy-pedia reports This phase 2 comprises of the installation of steam facilities for a thermal recovery process on the existing production wells and the drilling of a...

The Belgian holding company, KKO International, announced on Thursday 17 September 2015, the launch of its public offering on Alternext Paris and Alternext Brussels. As a reminder, the enterprise has been in cocoa production in Côte d'Ivoire since 2011, through its subsidiary (at 99.9%), the logistics and agricultural operating company (SOLEA). The operation is in the form of a capital increase...

IMF estimated, in a communiqué published on 15 September, that growth of the Beninese economy would slow down, to settle at a rate of 5.5% a year in 2015 and in 2016, due to the fall in Nigeria's growth, principal economic partner of the country. "This represents a moderate slowdown with respect to 2014 arising from the negative impact from the decline in the Nigerian economy, principal trading...

The TPG/Satya joint venture announced on Thursday 17th September 2015, its very first commitment in Africa, realised through a final agreement to invest in the Yassamine schools, an organisation presented as the biggest private school network in Morocco. Though a minority shareholder, the initiative should provide a growth capital and give the school complex, the capacity to develop and improve...

Surface taxes for operators of gold deposits located in eastern Cameroon, have recently been raised. According to the Sous-préfet of Bétéra Oya, in the Eastern region, this tax has increased “from FCFA 5/m²/yr to FCFA 50/m²/yr”.   Thus raising a 10-fold, this tax allows the public treasury to increase its revenues. The augmentation arises from the exercise for the...

There is danger on an agreement to finance media in Algeria by the European Union. This is what the Algerian daily Liberté, providing the information on its website, thinks. The newspaper declares that, contrary to what was initially planned, the agreement will not be signed during the visit by the EU representative for Foreign Affairs and Security Policy, Federica Mogherini (photo), who arrived...

The London Appeal Court authorised Ecobank group to lodge an appeal on the decision taken by the London High Court in July. To recall, in his legal battle with the Ecobank group, ex-General Manager Thierry Tanoh (photo), unceremoniously dismissed, won the trials in Abidjan for defamation, and in Lomé for unfair dismissal. The Pan African banking group, sentenced to pay him consequential...

The current situation in which the Burkinabe transition president, Michel Kafando, and the members of the government have been taken hostage by the Presidential Security Regiment (RSP) on Wednesday afternoon is most likely not a fit of temper from soldiers who fear losing their benefits. It is indeed an attempted coup, even though there is still confusion in Ouagadougou. A military man announced...