Mozambique’s two main cotton farmers associations forecast output for the 2017/18 season at 70,000 tons. If confirmed, it would mean output for that season would have increased by 3,000 tons compared to that of ending 2015/16 season. Despite the slight increase, production is still far from the crop’s golden age in the 1972/73 season when the country produced 144,000 tons of cotton....

Oceaneering International, a global provider of engineered services and products, primarily to the offshore oil and gas industry, has announced that it has secured a two-year contract extension with a unit of BP till January 2019. The extension comes under the Field Support Vessel Services contract entered into with the Company for work offshore Angola on Blocks 18 and 31. Under this contract...

On October 25, 2016, mobile operator Mobilis, subsidiary of Algérie Telecom, signed a partnership agreement with Stream System, Algerian electronic devices manufacturer (Smartphones and tablets). Under the agreement, the mobile branch of the telecom operator will sell Stream System’s devices. Mobilis believes providing its users with top-quality, affordable, telecom devices will benefit it...

As part of efforts to resolve the main challenges in the downstream sector and boost returns on investments, the Nigerian National Petroleum Corporation (NNPC) and Total Nigeria Plc are currently considering the transportation of petroleum products via the rail system so as to reduce costs. The project is believed to be possible, if the government succeeds with plans to renovate the rail sector....

Libya has witnessed an extraordinary increase in oil production reaching 670 thousand barrels per day, according to the head of the media office of the Libyan Tripoli-based National Oil Corporation (NOC), Mohammed Al-Maghribi. “That is all because the NOC has resumed work in some previously-shut oilfields,” he said. The country’s oil production has been gradually increasing, following the...

ExxonMobil has announced the discovery of about one billion barrels of oil on the Owowo-3 well, off the coast of Nigeria. According to the company, its subsidiary Esso Exploration and Production Nigeria Deepwater Ventures drilled the Owowo-3 well which came across about 460 feet of oil-bearing sandstone reservoir on September 23, 2016. The well extends the resource found on the Owowo-2 well,...

Procedure related to the sale of stake held by Ivorian state in the capital of Banque de l’Habitat de Cote d’Ivoire (BHCI) should speed up after piloting advisor is picked. According to a source with knowledge of the case, international business bank Rothschild & Cie might be the one to advise the State via its privatization committee regarding its exit from the bank’s capital. Rothschild...

Moroccan banking group Banque Centrale Populaire and African Development Bank (AfDB) have committed to finance intra-regional trade in Africa. The agreement signed during King Mohammed VI’s visit to Tanzania between representatives of the two parties is for a $100 million precautionary line divided equally between the two actors. This week, AfDB announced about $378 million of...

In Sudan’s capital, Khartoum, a protest against land expropriations by the government turned violent, Agence France Presse (AFP) reports. “Sudan police violently dispersed, in East Jreif district, Khartoum, protesters denouncing land expropriation planned by the government. Hundreds of people were demonstrating when a group of riot policemen came to disperse them,” the agency highlights....

Foreign direct investments in Mauritius reached 7.96 billion rupees (US$222 million) in first half of 2016, up 69% compared to the same period in 2015, data released by the National Investment Council on Oct. 27th shows. The increase mainly results from booming investments in the real estate and financial services sectors, standing respectively at 5.03 billion rupees and 2.01 billion for the...