LES-listed firms with assets in Africa mobilized $26.1 billion over 10 years, Oscar Onyema revealed. The chief manager of the Lagos stock market made the announced during a one-day event between his institution and the British stock market. A total of 112 companies operating in Africa are actually listed on the London Stock Exchange. Recent listing operations include that of Egyptian...

The President of the Organization of Petroleum Exporting Countries (OPEC), Mohammed Saleh Abdulla Al Sada, has stressed the need to strengthen interaction between oil producing states. “In the future we will need enhanced interaction to foster mutual understanding between the OPEC and non-OPEC oil producing states, we need to intensify the contacts,” Al Sada said. This according to him is...

A delegation from Scotland is expected to visit East Africa to help the region improve skill shortfalls in the oil and gas industry, and also in the mining and construction sector. The delegation is being led by Scottish Development International on a mission aimed at increase the skills base in East Africa. East Africa has been reported to have the world’s biggest gas fields but in order to...

Chinese demand for Angolan oil, which is cheaper and considered to offer steady supply, is expected to accelerate this month as the refinery preservation period is over. The Southern African nation was China's largest crude oil supplier for the second time in September, overtaking Russia. China imported 4.19 million tonnes of oil from Angola last month, compared to the 45.8% from a year ago....

The French Development Agency (Agence de Développement Français) provided €370 million for soft loans to Nigeria so it develops its power sector. Denys Gauer, France ambassador to Nigeria made the announcement and reaffirmed the commitment of his country to help Nigeria’s energy sector grow. He however highlighted that “Nigerians must give priority to renewable energy, either...

Today, October 24, 2016, MTN Group had its share soar by 4.47% on the Johannesburg Stock Exchange where it is listed. The increase is subsequent to the firm announcing good financial results for the third quarter of 2016, spurred by earnings from data that surged 21% now representing 26.4% of MTN’s turnover. The group also announced it was ready to start recovering earnings from its business...

Zimbabwe’s government has granted Makomo Resource the licence to build a 660 MW thermal power plant in Hwange. The infrastructure which will include two 330 MW units will help reduce the nation’s power deficit. “We got the licence from the Government two weeks ago and we are looking at activating our financiers,” said Makomo’s general manager, Samson Mavhura. Construction for the...

Africa Energy has announced the acquisition of a 90% participating interest and operatorship in Block 2B offshore the Republic of South Africa. According to the company, $1 million was paid to Afren and some of its subsidiaries for the acquisition of a 25% participating interest in Block 2B. Another $2 million together with the issuing of 14.8 million new common shares was offered to...

Egyptian gas company EGAS has launched what is considered to be the World’s biggest tender for liquefied natural gas (LNG) in an effort to secure 96 LNG shipments for 2017-2018, participants in the tender revealed. An extra 12 optional cargoes were included in the tender, which EGAS may choose not to award, Reuters reports. According to the trading sources, the payment period for suppliers...

Ivorian authorities are determined to gain more ground in their fight to secure land titles for rural populations. The central part of the country, Bouaké especially, is currently being informed about the issue. The new information operation comes after a sensitization tour organized last July and which included the region. Cote d’Ivoire’s chief of rural land office, Delbé Constant, now...