At a Ministers Council held on Nov. 8, 2016, the government of Togo announced it was seeking funds to rehabilitate and built the Lomé-Cinkassé backbone. The request  for financing was submitted by the government at the sixth edition of the Tokyo International Conference on African Development (TICAD VI), organized by Japan’s Cooperation,         ...

The African Trade Insurance Agency (ATI) urged the Tanzanian government to reinforce their partnership. It said it was ready to facilitate the mobilization of $1.2 billion of investment in the local energy sector, for projects which will lead to the development of an additional 1,200 MW to the national grid. In return, the country must commit to promoting the various projects that it backs...

The Global Shea Alliance aims to double its output in West Africa. To do so, the association plans to spend $13 million to assist shea farmers and expand markets. Achieving this goal would bring the region’s shea output to 1.2 metric tons by 2021. “We want to expand shea utilization in food and cosmetic markets. We seek to plant 500,000 new trees and build warehouses,” said the...

Zimbabwe’s largest coal producer, Makomo Resources, was ordered 15,000 metric tons of a variety of the fuel by Europe. Finance director, Tenai Mungoni, said the coal will be shipped next month, without naming its final destination saying it was confidential, Bloomberg said. The coal will pass through the Beira port in Mozambique. However, the company is still negotiating with its authorities...

Swedish home appliance giant Electrolux announced in a statement released Nov. 10 it will buy South African water heater producer Kwikot Group, for two billion Swedish crowns (about $221 million). Based in Johannesburg, Kwikot achieved a turnover of 730 million crowns ($81 million) and an operating margin of more than 20%, the same source added. By acquiring the SA-based firm, Electrolux...

In Ghana, the Agricultural Development Bank (ADB) plans to re-launch next week its initial public offering (IPO) ahead of listing on the Ghana Stock Exchange. The group through this operation aims to raise $150 million to increase its financing target by 50%. However, the bank’s president, Nana Soglo Alloh, told Bloomberg that the government must first approve the operation as it holds...

The Nigerian National Oil Corporation (NNPC) has announced that the country is currently planning new oil and gas policies aimed at attracting more private investors and boost crude production by 500,000 barrels a day by 2020. A week ago, the Senate approved parts of the Petroleum Industry Bill (PIB) which has been in works in the parliament for a decade and the Senate President, Bukola Saraki,...

Tanzania has reached an agreement with Uganda to fast-track the execution of a crude oil pipeline project between the two countries as well as grant multiple contractors the construction contract. Let’s be reminded that in April, Uganda announced that it would construct an oil pipeline through Tanzania instead of Kenya. The decision to fast track works on the pipeline was agreed during talks...

Gas production has resumed at Libya’s eastern Abu Tifl field and will start pumping 12,000 barrels per day of oil from next week, an engineer at the field revealed. According to the engineer, oil production when commenced would be pumped to the port of Zuetina, one of four terminals held by forces loyal to eastern Libyan commander Khalifa Haftar, in September and later handed to the National...

Angolan state oil company Sonangol and its partners have announced the commencement of production at the Mafumeira Sul oil field with an early output of 10,000 barrels per day. “While creating the conditions for the full operation of the project in the coming months, the EPS will operate with a maximum production capacity of 10,000 barrels of oil/day,” Sonangol said, adding that this...