South Sudan has asked Sudan for technical support in restarting oil production from the field located in the Unity area, Vice President, Taban Deng Gai(photo), revealed.The Vice President stated this after a meeting between South Sudan’s Oil Minister, Ezekiel Gatkuoth, and his Sudanese counterpart, Mohamed Zayed Awad. According to him, the two countries are to work together in the production...

According to the latest Hendersen Global Dividend Index published on August 18, South African firms among the 1,200 largest capitalizations, have distributed $2.6bn of dividends in Q2 2016 (April-June). Other African nations listed in the ranking, Morocco and Egypt knowingly, paid no dividend over the period considered. South Africa thus beat China which paid only $1.5bn. Each...

Woodside’s is currently facing challenges with the procurement of exploration assets in Senegal as junior explorer, FAR Limited, has said that it has pre-emption rights over the planned sale.FAR and ConocoPhillips’ are joint venture partners in the Senegal exploration assets and the junior explorer believes that since the latter did not comply with the terms of the joint venture partnership,...

As part of the moves to increase production and prop up Federal Government’s revenue, the Nigerian National Petroleum Corporation (NNPC) has announced plans to renovate abandoned oil fields in the country. According to the Group Managing Director of NNPC, Maikanti Baru (photo), the corporation intends to extend the borders by diversifying the production mix and terrain. He said NNPC also...

In Tanzania, President John Magufuli (photo) has instructed officials to fast-track works on a planned Liquefied Natural Gas (LNG) plant as the execution of the project had been delayed for a long time.The president gave the directives during a meeting with Statoil's Tanzania country manager Oystein Michelsen, and senior Tanzanian government energy officials. “I want to see this plant being...

South African main iron ore export terminal, Saldanha, which is operated by Transnet Port Terminals (TPT), celebrated last Thursday a milestone of one billion tons of iron ore exported since it started activities in 1976. “TPT is constantly looking to expand and strengthen our operations so reaching such a large milestone is very significant for the company as a whole. The terminal’s total...

Nigeria’s Minister of Budget and National Planning and Senator Udoma Udo Udoma announced following its visit to China last July, that the country was in talks with the Chinese import-export bank China Exim Bank for a $21 billion loan to finance its 2016 budget and develop new infrastructure projects. The loan, if secured, should allow the country to plug its budget deficit which has been...

At the end of 2015, South Africa counted 38,500 wealthy individuals (High Net Worth Individuals/HNWI) who cumulated a wealth of $159 billion, a recent report published by Research and Markets. The cumulated wealth of these individuals who hold assets equaling at least a million dollar, excluding house and consumption goods, dropped by 18% compared to 2014, mainly as a result of Rand’s...

Ghana is considering the establishment of regulatory organ for its cashew sector, said Dr. Yakubu Alhassan from Ministry of Food and Agriculture (MoFA). The official revealed this at the launch of an international meeting that gathered 70 experts of the sector in the Ghana. Dr Alhassan added that the institution would help develop an environment that will promote growth of cashew output and...

Egypt signed with the World Bank, a $3 billion loan agreement with a 1.2% interest rate and a five-year grace period. The loan is to be paid over 35 years. According to Mohamed Meid, Egypt’s Deputy Minister of Finance in charge of public treasury, out of the loan secured from World Bank, $1 billion will be used to plug the country’s budget deficit which has been estimated to 9.8%...