In Ivory Coast, cocoa output for the main season will stand between 1.27 million and 1.3 million tons, Reuters revealed after questioning exporters. Three of these exporters estimated that the output would stand around 1.3 million tons. However, a fourth one set it lower considering the brown rot threat. “We have revised our forecast because our on-field team notified us of brown rot which we...

African Import-Export Bank has already mobilized more than $3 billion of which one billion through Eurobond issuances, ahead on it initial schedule, Reuters reported on October 28 citing the lender’s executive deputy chief, George Elombi. In May 2016, Afreximbank said it would raise $3 billion by the end of December, through Eurobonds, and by securing syndicate loans from States and...

Uganda’s Energy Minister, Irene Muloni (photo), has announced that Total SA agreed to take a 10% interest in the country’s planned refinery, as it hunt for other investors for the $4 billion plant. The country’s negotiations with a group of investors led by RT GlobalResources LLC, on the construction of the refinery failed earlier this year, while planned discussions with a group...

Tawana Resources, active on the Uis lithium project in Namibia has announced a fundraising for AU$7.2 million ($5,484,669) to advance its projects. Fundraising will take place in two tranches, during which 60 million shares will be placed at $0.12 per share. The firm said added during the first step 29.6 million shares will be issued and in the second 30.3 million shares. Tawana will use...

Australian miner Intra Corporation signed with Chinese power developer Sinohydro a memorandum of understanding (MoU) for the joint development of the 270 MW coal-fired Ngaka power plant. Under the MoU, Sinohydro which is the project major shareholder will conceive, build, finance and operate it. Tancoal Energy, subsidiary of Intra Energy will provide coal that will be used as fuel. It was...

Mozambique’s two main cotton farmers associations forecast output for the 2017/18 season at 70,000 tons. If confirmed, it would mean output for that season would have increased by 3,000 tons compared to that of ending 2015/16 season. Despite the slight increase, production is still far from the crop’s golden age in the 1972/73 season when the country produced 144,000 tons of cotton....

Oceaneering International, a global provider of engineered services and products, primarily to the offshore oil and gas industry, has announced that it has secured a two-year contract extension with a unit of BP till January 2019. The extension comes under the Field Support Vessel Services contract entered into with the Company for work offshore Angola on Blocks 18 and 31. Under this contract...

On October 25, 2016, mobile operator Mobilis, subsidiary of Algérie Telecom, signed a partnership agreement with Stream System, Algerian electronic devices manufacturer (Smartphones and tablets). Under the agreement, the mobile branch of the telecom operator will sell Stream System’s devices. Mobilis believes providing its users with top-quality, affordable, telecom devices will benefit it...

As part of efforts to resolve the main challenges in the downstream sector and boost returns on investments, the Nigerian National Petroleum Corporation (NNPC) and Total Nigeria Plc are currently considering the transportation of petroleum products via the rail system so as to reduce costs. The project is believed to be possible, if the government succeeds with plans to renovate the rail sector....

Libya has witnessed an extraordinary increase in oil production reaching 670 thousand barrels per day, according to the head of the media office of the Libyan Tripoli-based National Oil Corporation (NOC), Mohammed Al-Maghribi. “That is all because the NOC has resumed work in some previously-shut oilfields,” he said. The country’s oil production has been gradually increasing, following the...