Mobile telephone operator LAP GreeN, saved from a forced merger with Comium and Café Mobile, announced an upcoming investment of approximately USD 150 million to recapture the Ivorian telecom market. According to an internal source, quoted by website Connection Ivoirienne, the funds will be used to, among other things, improve its national network coverage from 42% to 75% in 2016. LAP GreeN...

Highlighting the severity of the sustained decline in global oil prices on those countries that rely most on the industry for its revenue sources, Libya however, has proclaimed a $3.3 billion budget shortfall for the first seven months of the year. Forbes reports Besides producers like Algeria and Venezuela, Libya has witnessed drops in revenue as a result of lower prices, but has also...

Egypt’s minister for oil Sherif Ismail has declared that the Gas production at the newly-historic-discovered gas field of the Egyptian coast will start in 30 to 36 months. Recently Italian energy group, Eni announced that it had found one of the world's largest natural gas fields Zhor off Egypt's coast. It said the area was 1,450m (4,757 feet) beneath the surface and covered 100 km² (39...

A Global management consultancy McKinsey & Company has put forward the notion that South Africa should immediately pursue a ‘big gas’ energy option to bridge an electricity supply gap of between 6 GW and 10 GW that could arise by 2025 as older coal-fired power stations are decommissioned. This was contained in a report titled ‘South Africa’s Big Five: Bold Priorities for Inclusive...

South Africa’s ruling African National Congress (ANC) has advised the government to approve strategic changes to laws for the oil and gas industry to in order to help speed up development and put an end to power shortages. President Jacob Zuma had in January this year sent changes to the 2002 Mineral and Petroleum Resources Development Act back to parliament due to concerns that the amendments...

n 2014,the global volume of transactions executed on the Casablanca Stock Exchange was recorded at 49.8 billion dirhams, based on the results published by the management of this financial place. The performance has declined by 19.8% when compared to the value of stock-market transactions carried out in 2013 (62.14 billion dirhams), and this despite an increase of 23.5% in the number of...

The New York Forum Africa (NYFA) 2015 was the birthplace, yesterday in Agondjé, of the African Music Institute, a Pan African institution for teaching and production, dedicated to enhancing African talents in the entertainment and cultural products industry. Founded on a public-private partnership, a memorandum of understanding was signed to that end by Pacôme Moubelet Boubeya, Gabonese...

Tanzania's main opposition presidential candidate has vowed to review mining and gas contracts, and also scrap "unnecessary" tax exemptions for mining companies, if elected president of the east African nation come October. Investors in Tanzania, Africa's fourth biggest gold miner with plans to develop huge new gas discoveries, have complained of shifting goal posts in contracts with the state....

Swala Energy an Australia-based company focused on the exploration of hydrocarbons in sub-Saharan Africa has declared that, following an analysis of its assets and operations and as part of its unending cost reduction exercise, it has decided to withdraw from Zambia so as to continue to focus on its core areas of East Africa.   Enery-pedia reports In order to facilitate this action it...

Oil prices was reported to have been stable on Friday after bouncing back from six-and-a-half-year lows on improving equities markets, tough U.S. economic growth and news of low crude supplies from Nigeria. Shell’s Nigerian unit recently declared force majeure on Bonny Light crude oil exports after shutting two key pipelines in the country due to a leak and theft. Global oil markets have...