The Bourse Régionale des Valeurs Mobilières (BRVM) listed on October 18, 2016, on the sidelines of the second edition of the Africa Islamic Forum held in Abidjan, its first five Sukuk issued by Cote d’Ivoire, Senegal and Togo in the WAEMU Regional Finance Market. This initial listing will boost attractiveness and liquidity of Islamic bonds, especially for individuals, while insuring the...

Emerging market-focused private equity firm Abraaj Group is in talks to acquire Kenyan private clinic Metropolitan Hospital, AFKInsider reported on October 18. “Nairobi is a sweet spot for us. There is a big population that is growing. You have emerging middle incomes. And there is a massive need for healthcare,” Khawar Mann, the Managing Director and Head of Healthcare at Abraaj Group,...

State-owned Kenya Pipeline Company has announced that it has chosen PricewaterhouseCoopers (PwC) as its lead adviser on the planned acquisition of Kenya Petroleum Refineries Ltd. The Kenya Petroleum Refineries Ltd (KPRL) is the only crude-processing company in the East Africa country and has been put on hold since 2013. The government gained full ownership of the facility in April when the...

MX Oil on Wednesday announced that it has received its first income from the Aje Field on OML 113 in Nigeria. According to the company, the first production of oil from the field has been sold for $1.2million.OML 113 encompasses an area of 835 km² offshore Nigeria close to the Benin border. It holds the Aje field and several other exploration prospects. The Aje field was discovered in 1997...

ExxonMobil has announced plans to commence the drilling of its first exploratory well off the coast of Liberia in November. According to a company’s spokeswoman, ExxonMobil’s subsidiary in the country intends to drill a deepwater exploration well on the Liberia-13 Block. “ExxonMobil Exploration and Production Liberia, an affiliate of ExxonMobil, plans to drill a deepwater exploration well...

Libya has recommenced production from the Waha oil field bringing the country’s total production to 580,000 barrels per day, a senior Libyan oil official revealed. According to the official, oil output from the field is being redirected to the Ras Lanuf export terminal rather than the usual Es Sider port due to limited storage.The Waha field, which is operated by the Waha Oil Company, is one...

Algeria’s state oil company, Sonatrach has signed a Memorandum of Understanding with Danish oil company Maersk to strengthen the existing partnership between the two companies.The Memorandum of Understanding was signed by Sonatrach vice-president for exploration and production, Salah Mekmouche and Maersk vice-president for non-operated ventures Carsten Sonne Schmidt, Algeria Press Service...

The NDB Development Bank launched by BRICS states – Brazil, Russia, India, Chian, South Africa – announced on October 16 through its president, Kundapur Vaman Kamath, it will lend $2.5 billion in 2017. “The second year is scaling up, concentrating on people, getting all the skillsets in,” Kamath said cited by Reuters. Talking at the BRICS summit held in Gao (South-West India), the...

Yesterday, October 17, during national workshop for the approval of a land policy document, Moustapha Sourang, lawyer but also former Senegalese minister, recalled the alarming proportions which land issue is taking in Senegal. Numbers disclosed by the president of the land reform commission are indeed troubling. Less than 10% of Senegalese has a regular land title, and jurisdictions are...

U.S. tech firm IBM grabbed a new client which is airlines Air Mauritius as it signed on October 18, 2016 a contract to provide the carrier its services. The five-year contract aims to help Air Mauritius better manage its activities with its Saas-based Cloud and Analytics technologies. This should help Air Mauritius maintain growth in the long term. Moving 1.5 passengers and 30,000 tons of...