People of Kandara, in central Kenya, signed a petition asking for the restitution of about 2,400 hectares of land on which Fresh Del Monte grows pineapples. Things have thus become uncertain for the agro-food giant who wanted to renew the lease for the lands concerned as it expires in 2019. Petitioners reproach the multinational an abusive exploitation of leased lands. “The company has been...

In response to global financial crisis, 25 members of the International Monetary Fund (IMF) have committed to a total of SDR 243 billion ($340 billion) in bilateral borrowed resources through end-2020. “These commitments will preserve the overall lending capacity of the IMF and provide confidence that the Fund will continue to address the needs of our membership. I am heartened that so many...

After buying Socimat in Cote d’Ivoire in July 2016, cement maker LafargeHolcim Maroc Afrique (LHMA) continues its expansion in Africa by acquiring two new firms in sub-Saharan Africa. Indeed, LMHA, which is a joint-venture between the Société nationale d’investissement (SNI) and LafargeHolcim, just bought a 50% stake in SCB Lafarge Benin and 54.7% in Cimencam in Cameroon. Amounts for the...

Tanzania’s president John Magufuli just commissioned a $120 million fruit processing unit in the suburb of Dar es Salaam. The unit will be built by business mogul Said Salim Bakhresa, Fresh Plaza revealed. Located in Mwandege, in the Mukuranga district, the plant can process 20-25 thousand tons of fruits each year and employs in the long-term about 600 people. The government intends to...

Soon, a $200 billion high-voltage line will be laid between Tambacounda and Zinguinchor in Senegal. . “Only the eastern part of the country and the Casamance are yet to have a high-voltage line. This project will therefore help connect these parts of the country to the national high-voltage grid,” said Mamadou Diémé, Senelec’s regional deputy for South Senegal. Developing this...

Glencore Plc has announced that it is looking to increase its oil trading with Libya, Iran and Iraq in order to beat the tougher trading environment. According to the company’s global head of oil, Alex Beard, countries like Libya or Iraqi Kurdistan have been the basis of trading activities for many trading houses in the past few years, producing good revenues. Beard added that Glencore would...

“The alarm bell is ringed. The State has decided to enforce a law preventing agricultural lands to be used for urban or industrial projects,” said Abderrahmane Madani Fouatih, wali of Mila, a wilaya of the eastern part of Algeria, as he was addressing the growing issue of agricultural land misappropriation. According to website El Watan, the situation is dire. “Whole plains, renown in the...

The government of Uganda has issued 195 standards that players in the oil sector will abide by, as the country approaches the commencement of oil production.Uganda is expected to officially start oil production that will allowing the country to export crude oil or refined products that will have to adhere to international standards. “Uganda currently imports all its petroleum products...

Moves to shore up Nigeria’s oil reserve through the exploration of new frontiers by the government has paid off as 21 out of the 23 oil wells drilled so far by the Nigerian National Petroleum Corporation (NNPC) had oil in commercial quantities. This is coming after President, Muhammadu Buhari, two months ago directed the NNPC to escalate search for oil in the north-east. According to a report...

Tlou Energy, has announced that it has received a preliminary Independent Reserve Certification from SRK Consulting for the Lesedi CBM Project situated in the prospecting licence PL002/2004 in Botswana. According to the company, the plan is to continue to build reserves and upgrade the category of the reserves as further production data from Lesedi is obtained. It added that the initial...