Shell Petroleum Development Company of Nigeria (SPDC) has again shutdown the Trans Niger Pipeline, which carries Bonny Light crude, as a preventive measure after a fire was seen. Operated by SPDC, the 28” pipeline was initially shutdown in June and was later reopened. The Trans Niger Pipeline (TNP) conveys approximately 180,000 bopd to the Bonny Export Terminal and is amongst the gas liquids...

Red meat prices in South Africa should rise, thus worsening inflation on food products. This is due to farmers’ current efforts to rebuild their herds after massive slaughters as they faced the worst drought of the century. Indeed, as El Nino phenomenon reduced pastures and cut maize output drastically, thus pushing prices of livestock feed off the roof, farmers were forced to slaughter more...

US private equity firm Carlyle Group has announced in a statement released on Sept 26, that it will acquire majority stake in South African supplier of promotional products and clothing Amrod, as it aims to expand its activities to other markets. Funds for the acquisition will come from Carlyle Sub-Saharan Africa Fund, the same source added. The transaction, whose amount was not disclosed, is...

In Cote d’Ivoire, press leaders recently asked the government for a tax relief. The request was made after a seminary that gathered them on September 22-23, 2016 in Yamoussoukro, the capital. The requested tax reform should allow press companies to benefit from a number of measures, of which the cancellation of tax arrears from the firms’ creation to December 31, illegibility to the...

In his article entitled “Quel Gâchis!” (What a waste!) published on Sept 24, 2016 on the website Libre Algérie, Smail Goumeziane, writer and former Algerian minister of trade said the “brain drain” of more than 500,000 Algerian executives who have migrated, has cost the nation about $165 billion in 30 years. To assess the financial impact of the “brain drain” which he...

In Algeria, telecom operators Mobilis, Djezzy and Ooredoo can from now market 4G services on mobile. On September 25, 2016, the government published to this end a decree “approving the licence for the establishment and operation of fourth generation (4G) public telecom network on mobile”. Each operator will have two types of wilayas – priority and secondary – in which to launch the...

BMR Group has signed a $5.2 million financing agreement with African Compass International, a South African group focused on mining exploration, energy and agro-industry, to develop its Kabwe project in Zambia. The firm said it would inject $4.2 million in its Kabwe plant and $1 million to satisfy the consideration payable to exercise the option agreement with Bushbuck Resources...

The European Union will provide €200 million to Egypt to support its power sector, said Reinhold Brender, deputy director of EU’s delegation in Egypt. The official revealed that part of these funds was used to develop new power capacities, knowingly the El-Zayt 200 MW wind park. The organization also got involved in a €500 mln project to install power sub-stations and...

Senegal’s President, Macky Sall has congratulated on Sept 15, his “brother Ali Bongo Ondimba” for being re-elected for another 7-year term at the end of Gabon, a statement from the Senegalese presidency revealed. “On behalf of the people of Senegal and personally, I would like to congratulate you wholeheartedly and wish you success in your service to your nation and your people,” the...

Israel’s parliament (Knesset) has signed a deal with Dolphinus Holdings for the importation of gas from Israel to Egypt for 3 years with an option to renew the contract for another two years. This is coming almost a week after Dolphinus Holdings and TAQA Arabia have requested for licences from Egyptian Natural Gas Holding Company (EGAS) to import natural gas for the private sector in Egypt and...