The Central Bank of Tanzania said on June 28 it projects the country’s economic growth to 7.4% in 2017 against 7.2% in 2016, driven by construction, communication and finance. “The macroeconomic objectives of the government aim at achieving a real gross domestic product growth of 7.3 percent in 2016/17 based on the projected growth of 7.2 percent in 2016 and 7.4 percent in 2017, while...

During the inauguration ceremony of the ECOWAS representative office in Abidjan which was held on 27 June 2016, Ivorian Prime Minister Daniel Kablan Duncan announced that a round table was to be organized, without disclosing the date set, in Abidjan for lenders to discuss fund mobilization for integration-oriented economic infrastructures projects within the ECOWAS. The Prime Minister said...

The Nigerian Gas Association (NGA) has announced that about $55 billion is needed in investment for exploration and production, processing, supply, and distribution of gas in the country. According to the President of the association, Bolaji Osunsanya (photo), the gas sector has capabilities for growth and can contribute positively to the economy.He added that converting natural gas into a...

Morocco’s only refiner, Samir has not been successful with plans to reach an agreement to unload a crude oil cargo that has been sitting off the coast of Morocco for almost a year. This is coming a week after the Moroccan courts granted the refiner another six months to resume production, so as to attract a buyer during that process. The vessel, the Delta Tolmi, which arrived off the coast of...

Angola LNG has cancelled an international supply tender, weeks after the plant loaded its first liquefied natural gas (LNG) cargo purchased by Vitol, a company spokeswoman revealed. “I can confirm that we have cancelled the next tender with the objective of rescheduling it to align it with our operations. We expect to reissue the tender shortly,” she said. The Chevron-led $10 billion...

In Gabon, the team in charge of project to connect fiber optic to Congo reported that 82% of works had been done. Meanwhile, on the Congo side, 80% of works related to the same project had been done. The team monitoring the project in Gabon said it was satisfied with progress on the works which fall under the fourth component of the Central Africa Backbone project (Cab4). Gabon’s team...

ASX-listed Manas Resources signed with Cienaga Sarl a memorandum of understanding (MoU) to acquire for $4 million the Victoria gold project in Tanzania. The MoU includes a non-repayable deposit of $200,000, $1.8 million cash component and another $2 million in shares. The firm said the $1.8 million cash component would be funded through capital raising. As for...

Consulting firm GlobalData forecast in a recent report that global cumulative installed photovoltaic capacity would reach 756 GW by 2025. GlobalData said in its report that the 217.4 GW currently installed will grow by 13.1% per annum, by 2025. Though highly far from 50.1% recorded between 2006 and 2015, plants developed will be significantly larger than current ones. China which will be...

Port operator Marsa Maroc raised 194 billion dirham ($197 million) in the framework of its listing on Casablanca Stock market. On June 27th, the bourse announced anticipated closure of subscription period for Marsa’s IPO. In a note published on its website, the Casablanca stock market indicated that subscription period closed by anticipation on June 27th at 2:30 PM, instead of June 30 as...

From 2000 to 2014, Angola received 23% of Chinese loans to African governments and public institutions, reveals a study published mid-June 2016 by the John Hopkins University, US. Entitled “China Africa Research Initiative (CARI)”, the study is the product of nine years of research conducted by Jyhjong Hwang, Deborah Brautigam and Janet Eom. It shows that out of the $86.9 billion that...