Ending a work mission in Conakry, the head of the International Monetary Fund’s delegation to Guinea, Abdoul Aziz Wane, announced that the institution has reviewed its growth forecast for 2016 to 5.2% from 3.8% previously. IMF’s visit was part of the eight and last review of the program of authorities supported by an agreement under the Extended Credit Facility (ECF). According to the...

On September 12, China and World Bank announced the official launch of a new finance institution for infrastructure projects in Africa with an initial capital of $500 million. China Overseas Infrastructure Development and Investment Corporation Ltd (COIDIC), the new entity should support infrastructure projects during conception, stake acquisition, commercial exploitation, feasibility...

In order to insure food safety for the 28,000 Sudanese refugees who ran from the Darfur and moved in the Farchana arid region, in Eastern Chad, the United Nations High Commissioner for Refugees and the Lutheran World Federation had implemented a land sharing project with local farmers. This initiative turned out to be successful. “We had agreed to share our lands with refugees because we...

Air pollution is responsible for 7.1% of deaths in sub-Saharan Africa, according to a study published on Sept 8 by the World Bank and the Institute for Health Metrics and Evaluation (IHME). Entitled “The cost of air pollution: Strengthening the economic case for action”, the study reveals that 605,000 of deaths in sub-Saharan Africa in 2013 are caused by air pollution. In East Asia and the...

UK’s recent exit from the European Union (Brexit), should impact the economy of developing countries if their free-trade agreements are not maintained. “Developing countries could lose €378 million per year if existing trade agreements with the United Kingdom are not maintained in the event of Brexit,” the Overseas Development Institute (ODI) and the UK Trade Policy Observatory said....

Belmet 7, a Ghanaian company, has completed and loaded onshore Tullow Oil’s Gas export manifold for both the offshore Jubilee and TEN oil fields at the West Cape Three Point in the Western Region. The company is a joint venture between Belmet Ghana and Subsea 7, in which Belmet Ghana owns a 51 percent shareholding and Subsea 7 has a 49 percent shareholding. According to Loic Chateau, the...

Drilling operations on the Kito prospect in the Kilosa-Kilombero licence in Tanzania which were initially scheduled for Q3 of 2016, are currently in doubts due to disputes amongst partners on the project. The operator of the prospect, Swala Energy, in March announced that all measures have been put in place for drilling activities to begin on the licence in Q3 of 2016 with the recent feasibility...

Libya's National oil company has revealed plans to restart oil shipments from terminals seized by forces loyal to eastern commander Khalifa Haftar 5PHOTO0 during the weekend.The terminals; Es-Sidra, Zueitina, Ras Lanuf and Brega account for more than half of Libya's exports. According to the Chairman of NOC, Mustafa Sanallah, work will commence immediately to restart exports and all the exports...

Canadian Overseas Petroleum Limited (COPL) through its 50% owned subsidiary, Shoreline Canadian Overseas Petroleum Limited (ShoreCan), has finalized the acquisition of 80% of the share capital of Essar Exploration and Production Limited in Nigeria. Essar's sole asset in Nigeria is a 100% interest and operatorship of OPL 226, located 50 km offshore in the central area of the Niger...

Chariot Oil & Gas in its unaudited interim results and operational update for the six-month period ended 30 June 2016 announced that it is in a strong financial position with $29million in cash and no debt.The company also announced that in the first six months of the year, it successfully collaborated with Eni in the Rabat Deep exploration permits offshore Morocco. According to the...