On September 27, 2016, Nigerian President Muhamadu Buhari met at the Abuja Statehouse, an Indian delegation led by Vice President Hamid Ansari. During the meeting, Buhari welcomed India’s decision to invest $5 billion in his country. The funds will be injected in sectors such as health, education, agriculture, technology and trade. Recalling India’s previous investment of $10...

In Ogun State, Nigeria, the Government has entered into a deal with a consortium of four private companies to construct a refinery, projected to be the second largest in sub-Saharan Africa.The deal, which was signed between the government and Petrolex Oil and Gas, Hyundai, Ajayi Legal Partners and Wema Bank Plc., also includes the construction of the biggest petroleum product depot Southwest of...

Mozambique's President, Filipe Nyusi (photo), has dismissed Mineral Resources and Energy Minister, Pedro Couto, reorganizing the department a month before Eni finalizes an offshore gas project worth $10 billion. The president did not disclose the reason behind the dismissal of the Minister, who had held the position since January 2015. Six years ago, the country discovered offshore gas...

Indian pharmaceutical group Kilitch Drugs announced in a statement published on September 20, on the website of Bombay Stock Exchange, that its subsidiary Kilitch Estro Biotech has been awarded a 4,317 m² plot by the government of Ethiopia to build a plant. The infrastructure which will be located in the specialized economic zone of Oromia (in the Eastern part of Ethiopia), will mainly...

Chevron-led $10 billion Angola LNG project has resumed LNG production after a scheduled two-month shutdown. The liquefaction plant which produces 5.2 million tons per year was shut down in July as part of the restart and commissioning programme put in place, following the closure of the facility for more than two years as a result of a major rupture on a flare line that happened in April...

Algerian state-owned oil company Sonatrach has signed an agreement with Pertamina to strengthen cooperation in the upstream and downstream sector. The signing of agreement was witnessed by Algerian Energy Minister Noureddine Bouterfa, the Indonesian Energy and Mineral Resources Ministry’s oil and gas director general IGN Wiratmaja Puja as well as Indonesian Ambassador to Algeria Safira...

In the coming years, East Africa’s hospitality and tourism sectors will record a positive growth, said Wayne Troughton, CEO of specialist global hospitality and tourism consultancy, HTI Consulting. Over the past few years, key projects have been implemented in East Africa to raise year-to-year tourism revenues from $7 billion to $16 billion, by 2020. “This indicates a positive...

In a major milestone, the organization of Petroleum Exporting Countries has for the first time in eight years agreed to reduce output to 32.5 million barrels per day from the current 33.24 million bpd. “OPEC made an exceptional decision today. ... After two and a half years, OPEC reached consensus to manage the market,” Iranian Oil Minister Bijan Zanganeh said after the meeting in...

In 2015, Senegal’s agricultural output should be around 5 million tons, according to a provisional report of the joint review of agricultural sector (RCSA) issued by Senegal’s Office for Analysis, Prevention and Agricultural. The report highlights that fruits and vegetables were the most productive in 2015 with 1,133,430 tons, ahead of groundnut whose output was 1,050,042 tons. These are...

State-owned company Sacfol is in talks with the government of South Africa over the acquisition of new forestry land, its chairman Lungile Mabece, told Business day. The talks which are at an “advanced stage” fall in line with the firm’s 2016-2021 corporate strategy. While Sacfol intends to partner with Black-owned companies, it is still highly criticized by environment defense...