Nigeria's oil production has increased to 1.9 million bpd, as the government begins move for talks with Niger Delta leaders to end militancy in the region and increase oil production, the oil ministry said. According to the special adviser on international energy relations to Nigeria's oil minister of state, Omar Farouk, Nigeria was in serious need of new investments to increase its reserve base...

Head of Moroccan government Abdelilah Benkirane announced last Thursday during the first session of the strategic orientation council for the Millennium Challenge Account-Morocco agency that part of the second compact financing from the U.S. Corporation will be injected in two major projects including the “Land productivity” project. Aiming to “improve rural and industrial land management...

In Tanzania, the Office Chérifien des Phosphates (OCP) group and the Tanzanian Fertilizer Company signed yesterday a memorandum of understanding to develop agriculture and fertilizer industry in the east African nation. The accord was signed during a visit by Morocco’s leader, agrimaroc.ma revealed. It states that OCP is enabled to provide fertilizer to Tanzania at competitive prices, and...

Power Corner Tanzania will provide power to 40,000 homes across 160 Tanzanian villages by 2020. Since 2015 when it came to the country, the firm’s target was to electrify rural communities with off-grid solar energy. The company will install a mini-grid in each targeted village for not more than $1000 per community. Overall, about $140,000 will be spent to set up the off-grid solar...

Ghana scaled down growth forecast for its GDP for 2017 to 7-7.4% against 8% previously, Reuters reported citing the country’s minister of finance, Serth Terkper. The official said the government’s public expenditures were ranging within margins set by the International Monetary Fund under its 3-year program. He however did not reveal the reasons behind the downscaling. Reuters recalled...

Listed on ASX and TSX, Perseus Mining produced during the previous quarter of the year which ended in September, 43,776 ounces of gold at its Edikan mine in Ghana, thus 9% more than what it produced at the mine the year before, during the same quarter. The result was due to better performances at the processing plant. The company is thus on the good way to achieve its production targets for the...

China Harbour Engineering Company (CHEC) signed on October 25, 2016 a $770 million contract with the government of Guinea to expand the port of Conakry. Under the terms of the agreement, the Chinese group will build three new docks totaling a length of 846 linear meters, a parking lot able to receive 600 trucks, a 4km-long road and a 550m interchange. The project will be mostly financed by...

The Nigerian Stock Exchange (NSE) has postponed to 2017 the launching of derivatives trading which was initially planned for this year, Reuters reported on October 24 citing the chief executive of the bourse, Oscar Onyema. “We think with all the work that is going on, that next year will be realistic in terms of beginning to roll out the full set of products,” said Onyema on the sidelines...

Egyptian authorities seized sugar stocks of Edita Food Industries, one of the country’s leading agro-food companies. The executive said it is confiscated about 2,000 tons of the commodity because the firm failed to provide invoices to prove their origin. Edita however denied the government’s claim and threatens to stop its activities in the country. “If it’s (the confiscation) going to...

The agency for air navigation safety in Africa and Madagascar (ASECNA) forbid the planes of Equatorial Congo Airlines (Ecair) from taking off since Oct. 10 because it failed to pay what it owes the agency. “Due to its debt, the management of ASECNA has forbidden the provision of all Ecair’s flights across all its platforms taking effect on October 10, 2016,” ASECNA said in a letter sent...