Tullow Oil in its Trading Update for the period 27 July to 9 November 2016, announced that it expects the Joint Development Agreement (JDA) signed in October to set out a structure for the Kenyan Government and Joint Venture Partners in order to make headways with the development of the export pipeline expected to begin by year-end. This announcement comes as the company and its JV partners;...

Libya’s largest oil export terminal, Es Sider is expected to be re-opened by next week as renovation work is almost complete, a National Oil Corp. official revealed on Tuesday.According to the unnamed official, tankers may be able to load from the port for the first time since 2014. The Es Sider port has not exported crude since a force majeure, was declared on loadings almost two years...

All eyes are currently on the Dangote refinery, currently being constructed by Africa’s richest man, Aliko Dangote (photo), to drive refining capacity increase in Africa, by 2020. The Organization of Petroleum Exporting Countries (OPEC) in its 10th edition of its World Oil Outlook (WOO), said that the refinery, which is the first privately owned and operated refinery in Nigeria, will refine as...

Morocco and Senegal have reinforced their partnership in agriculture by signing yesterday agreements at a ceremony to which were present King Mohammed VI and Senegal’s President Macky Sall. The agreement according to Aziz Akhannouch, Morocco’s minister of agriculture is for a programme under which “Morocco is to provide Senegal its expertise and financial support so to develop its...

The African Development Bank (AfDB) announced in statement published on November 2 that it has granted Nigeria a $600 million loan which is to be directed into the country’s Economic Governance, Diversification and Competitiveness Support Programme (EGDCSP). This sum is the first tranche of a $1 billion budget support loan. The last tranche, $400 million, will be released in...

A report by the International Finance Corporation (IFC) shows that the Paris Climate Change Agreement adopted last year will give rise to about $23 trillion in investment opportunities in emerging markets between now and 2030. The study is based on the identified contributions of 189 countries in the battle against global warming as well as on the underlying policies of 21 emerging-market...

Morocco and Egypt keep leading the private equity market in North Africa. From January 2010 to June 2016, the two nations grabbed 81% of all investments made by private equity firms in the region, a report released by the African Private Equity Venture Capital Association (AVCA) revealed. Morocco grabbed 41% of all transactions in the region over the period considered and Egypt attracted 40% of...

The Central Bank of Morocco just invested $100 million in green bonds issued by the World Bank. According to a statement published on Nov. 7 by The International Bank for Reconstruction and Development (IBRD), World Bank’s main organization, the bonds which have fixed interest rate with a semi-annual coupon will mature on December 15, 2019. Bank Al-Maghrib’s investment occurs on the...

The International Cocoa Farmers Organization (ICCFO) launched the “New Generation Cote d’Ivoire” project to support cocoa farming in Cote d’Ivoire. The project aims to boost cocoa production in the country by introducing more youth in the sector. The ICCFO will provide these youth fertilizers and training. The first batch to benefit from the organization’s support comprises 60 youth....

A state-run oil pipeline that feeds the Forcados terminal near the southern port city of Warri has been bombed by militants on Tuesday. This is the second attack within a week a community leader and army officer revealed. State-owned Pipelines and Product Marketing Company (PPMC) operates the pipeline which receives crude from the Batan flowstation and feeds the Forcados export...