Morocco’s leading bank, Attijariwafa Bank, has announced on September 19 that it will build a giant tower with offices and apartments in Casablanca Finance City (CFC). The “Borj Attijari” as it is named will cover 54,750 m². To this end, the bank which is owned mainly by the royal family launched a call to tender to pick an architect to manage the project. All interested architects must...

A Consortium composed of Renault-Nissan, Schneider Electric, Moroccan M2M and State-backed firm ADEREE (National Agency for the Development of Renewable Energy and Energetic Efficiency) has initiated in the framework of the COP22, a project which aims to conceive the first “made in Morocco” electric car. The four entities are deploying all efforts to unveil the major lines of the project on...

Equatorial Guinea is currently in talks with potential buyers regarding pricing terms for production from the 2.2 million tonnes per year (tpy) Fortuna Floating Liquefied Natural Gas (FLNG) project.The West African country is eyeing Europe as its next market, as Asia remains its key LNG customer. “We are seeing that the European market is becoming more attractive for the future than Asia,”...

For the first time since 2014, a tanker set sail from Libya with a crude cargo heading for Italy after rival armed forces decided to put an end to their clash and allowing the country to resume exports from its third-largest oil port. According to Nasser Delaab, petroleum operations inspector at Harouge Oil Operations, the tanker, Seadelta, left the port of Ras Lanuf with 781,000 barrels of...

“There will be no issues, this event is organized bv the government!” said the invitation letter written by the organizers of the Africa IT Expo (AITEX) sent to the young journalist of Agence Ecofin, enabling him to obtain his Visa once he’d arrived. However, upon his arrival from Cotonou, Benin, the border-police didn’t agree with the official note, doubting its authenticity....

Spectrum has been granted the Tender Area 2 Broadband 2D multi-client seismic survey encompassing the southern Rovuma and north-eastern Zambezi Basins, offshore Mozambique. The company was chosen based on an offer to put forward proposals for Tender Areas 1 - 7 for new multi-client data acquisition projects offshore Mozambique. The invitation was issued by the Government of the Republic of...

Algerian Energy Minister, Noureddine Bouterfa (photo), has said that members of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members must reduce crude oil supplies by 1 million barrels per day so as to stabilize the markets and bolster prices. Oil has been fluctuating since August on talks that OPEC and Russia will meet next week in Algiers to agree on a plan to support...

Algeria plans to increase its gas output to more than 9 billion cubic meters a year when its three delayed projects begin production next year. These projects include the Touat gas field which is scheduled for February 2017 with an estimated output of 12.8 Mmcbm/d, Timimoun field in March 2017 with 4.6 Mmcbm/d, and also the Reggane gas field with 8 Mmcbm/d in June. “The three projects will...

Saham Finances SA, insurance branch of Moroccan firm Saham Group has bought 100% interests of Mauritian firm Sun Insurance Co Ltd, reported Moroccan website infomediaire on Sept 19. “We wish to have a structuring role in Mauritius, to become a reference actor and therefore let our offers achieve international standards,” said Saham Finances chief executive, Raymond Farhat. In Mauritius,...

In a recent study of the World Bank entitled “Providing Water to Poor People in African Cities Effectively: Lessons from Utility Reforms”, Dakar was ranked first for the efficient management of its network. Led by Chris Heymans, senior water and sanitization expert at the World Bank, the study reveals that access to water in Africa has barely improved since the 90s except for a few towns,...