Due to persistent drought continues, Morocco’s grain imports are highly likely to explode. While L’Economiste said the kingdom might buy four million tons of wheat, the United Nations Food and Agriculture Organisation (FAO) forecasts Rabat’s total grain imports at 8.7 million tons, thus 2.2 million tons more than the average over the past five years. With a projected wheat output of 2.8...

In Ghana, mining companies are turning to renewable energy, as an additional source of energy but also to cut down their cost of operation. Many of these firms indeed complain about the high cost of thermal energy. “Many of the companies are now looking at renewable energy sources because of the cost of thermal based energy resources. Most of them are looking at even their own generation as...

The Ethiopian government inaugurated on October 5, 2016, a railway that links Addis Ababa to Djibouti’s port. The 756-km infrastructure took four years to be built and cost $3.4 billion of which 70% were provided by Chinese Exim Bank. The line will improve access to Ethiopia and boost trade with Djibouti. “This train will allow Djibouti people and Ethiopians to travel with more ease,...

Arab Petroleum Investments Corporation (APICORP) has arranged a $100 million Murabaha (compatible with Islamic laws) financing facility for Egyptian General Petroleum. “We are very pleased to be supporting Egypt’s petroleum industry through arranging of this Murabaha facility. It contributes to the stability and security of supply of energy to the Egyptian people,” said Dr Raed Al...

ExxonMobil Corp. on Thursday announced that it is considering its next steps after the Chadian High Court instructed the oil company to pay $819 million in royalties. “We disagree with the Chadian court’s ruling,” Todd Spitler, ExxonMobil’s spokesman, said. The Chadian court on October 5, 2016, ruled in favor of the government of the country following complaints by the Finance...

Moroccans, Nigerians, Kenyans and South Africans dominate the 2016 edition of the Choiseul 100 Africa – Economic Leaders for Tomorrow, a study carried out the Institut Choiseul, a Paris-based think tank. This year, Morocco has 10 young leaders in the annual ranking which “identifies and ranks the young African leaders of 40 years old and under 40, who will play a major role in the...

The Ugandan government is considering a new licencing round for three oil blocks in the Albertine Graben that were not taken during the first licencing round.The three blocks includes the Taitai & Karuka oil block, Mvule oil block in Moyo/Yumbe and the Ngaji block between Rukungiri and Kanungu that was disregarded due to its eco-sensitivity. According to the Ministry of Energy’s...

Africa-focused Lekoil is expected to begin commercial oil production from Otakikpo marginal field, located in Oil Mining Lease (OML) 11 in Rivers State this month, following the completion of the Otakikpo-003 well. After the successful return of the Otakikpo-002 well, first oil from Otakikpo flowed to surface in September last year.The oil and gas exploration company last month said that with...

Following a shocking revelation by major oil producers to cut production last month, the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil producers are planning to meet in Istanbul from October 8 to 13 for informal talks on how to execute the production deal. According to Algerian Energy Minister, Noureddine Bouterfa, the Algiers deal to cut output would be effective for...

Globacom Nigeria has launched 4G. The firm which is owned by Nigerian business mogul Mike Adenuga revealed on its website that its users in Lagos, Port Harcourt, Abuja, jos, Warri, Eket, Ibom, Benin City, Yola and Zaria could now benefit from the high-speed internet technology. Globacom’s head of corporate sales in Nigeria, Kamaldeen Shonibare, said rates for data bundles associated with the...