Mining firm Nexus Gold has completed Rotary Air-Blast (RAB) drilling program at its Niangouela gold project in Burkina Faso.   During the program which aimed to test the orientation and extent of a preivously identified primary quartz vein, 30 holes were drilled totaling a depth of 802 m. Former analyses of samples from the vein revealed the following gold grading: 5.93g/t, 4.83g/t,...

At a press conference held last Monday in Libreville, Gabon’s Prime Minister in charge of Urbanism, Social Housing, Bruno Ben Moubamba, said he launched a housing audit to draw out and neutralize all land “gravediggers” (scavengers) in Gabon. The intiative will be be followed by law suits. “We confirm having launched a housing audit to identify the responsibilities of each and everyone...

Lebanon-based investment firm EuroMena, announced the close of its third fund at $150 billion. “In spite of a difficult macro-economic environment in the region, EuroMena has once again succeeded in finding investors, confirming the robustness of its performances,” said Romen Mathieu, Managing Partner at EuroMena. Besides already present investors like Proparco (French Public aid to...

Anheuser-Busch InBev (AB InBev) will sell 54.5% of its stake in Coca-Cola Beverages Africa (CCBA) to US giant Coca-Cola. We are pleased to have reached an agreement quickly that is in everyone’s best interests, said Mhutar Kent, Chairman and CEO of The Coca-Cola Company. Through this acquisition, Coca-Cola which so far held 11.3% of CCBA increases its stake to 65.8%. It will thus become the...

Egypt has entered into three oil and gas exploration and production deals worth a total of $220 million with Total, BP and ENI's Egyptian subsidiary IEOC, the Oil Ministry, announced in a statement on Wednesday. According to the ministry, the first deal was signed with a consortium of BP and IEOC and is worth $75 million, the second deal is worth $80 million and was entered into...

The Group Managing Director of NNPC, Maikanti Baru (photo) has announced that the country’s oil and gas reserves which had fallen at the height of militant attacks on infrastructures has increased. The nation’s crude oil reserves, which had plummeted to 28.2 billion barrels has now risen back to 37 billion barrels. Nigeria now boasts of oil reserves of 37 billion barrels, a figure...

State-owned company, Egyptian General Petroleum Corp (EGPC) is looking to import up to 178,000 tonnes of gasoil for supply in January, a tender document have shown. The company is in search of two cargoes of 30,000 to 33,000 tonnes each with 0.1% sulphur gasoil for delivery into the Alexandria or El Dekheila ports from January 11 to 13 and January 22 to 24. EGPC through a separate tender, is...

In Tunisia, the State Secretary to State Domains and Land Affairs, Mabrouk Kourchid announced he would deploy all efforts to optimize control over state lands around mountain areas, to prevent terrorists from settling there. “These lands, especially those nearing military buffer zones, must be put strictly monitored to insure they do not become hideouts for terrorists. The State Secretary to...

The European Union and Kenya signed on December 20, in Nairobi, a financing agreement valued at £104 million for small Kenyan farmers. The agreement was initialed by Uhuru Kenyatta, Kenya’s President, and Neven Mimica, EU Commissioner for development and international cooperation. The facility will be divided in three tranches that will go into three distinct projects. The first project in...

In the Democratic Republic of Congo, the Central Bank announced on Dec. 26 it scaled down GDP growth for 2016 to 2.5%, from 4.3% previously. The institution revealed this in a report published on its website which was relayed by Reuters. According to the document, the scale down was mainly driven by a fall in prices of commodities. DR Congo, Africa’s leading copper producer currently...