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...

The government of Cote d’Ivoire picked Bouygues, Cegelec Maroc and Sagemcom to expand national fibre optic network. The three companies won the international call to tenders launched last year by the West African nation for the deployment of additional 5,000km of fibre. The new infrastructure will add to 662km of already laid fiber under the backbone project commissioned on December 1, 2015...

At September 30, 2016, Carthage Cement’s turnover grew 17% compared to last year’s turnover, accounts audited by the firm show. From 125.5 million Tunisian dinars in 2015, the firm’s revenue surged to 149 million dinars this year, namely as a result of a 16% increase in orders on products. Locally, the firm’s sales reached 95.12 million dinar, up 21% from 78.5 million in 2015. This...

Tunisian leading private group Poulina Group Holding partnered with various local financial institutions to create an investment fund that will support the expansion of Tunisian companies in sub-Saharan Africa, ilboursa reported, on October 17. The institutions are: Caisse des dépôts et consignations (CDC), a state-run firm which promotes investment, private bank Amen Bank and the Compagnie...

Citruses exports to the U.S. from Morocco have restarted. The news was confirmed by the National Office for Food Quality and Safety (ONSSA in French) which said the ban on Moroccan citruses exports to the United States has been lifted. The ban was issued by U.S. authorities after they discovered in a cargo of Morocco-imported Clementine fruit fly larvae.  Decision to lift the ban follows a...

Algerian billionaire Issad Rebrab, Magrheb’s richest man and head of agro-food group Cevital will invest €195 million ($215 million) in Sri lanka. While part of the investment, knowingly €150 million, will be used to build sugar refinery and power plant, €45 million will be injected into vegetable oil production, the billionaire revealed. “I have noticed that Sri...