China’s National Offshore Oil Corporation (CNOOC) is currently being pressurized by the government to move ahead with plans to exploit the discovery made on Block S, in Equatorial Guinea. According to the country’s Minister for Mines, Industry & Energy, Gabriel Mbaga Obiang Lima (photo), the Ministry has before now given CNOOC sufficient time to create a development solution. He said if...

Camusat, one of the market leaders in developing telecom infrastructures, is pleased to reveal the results of the first site implemented in Madagascar using its rural solution. Installed and commissioned in 5 days, this 100% solar powered and non-concrete telecom site enables Camusat’s mobile operator client to link an unconnected village of 5,000 inhabitants to mobile networks. With this...

In a statement published on June 24, German stock operator Deutsche Börse and its British counterpart, the London Stock Exchange (LES), announced they still plan to merge despite UK’s exit from the European Union. “The merger is not conditional on the outcome of the Referendum,” said the two groups while adding “they remain fully committed to the agreed and binding merger terms”....

South African firm Rand Merchant Bank Holding (RMH) announced on June 27, 2016, it made its first direct investment in the property sector. The group, for an undisclosed amount plans to buy a 34% stake in urban renewal property company, Propertuity. RMB Holdings, which until now focused on investments in the finance sector, said in May 2016 it would explore new opportunities so as to create...

The Nigerian National Petroleum Corporation (NNPC) has revealed that oil production in Nigeria has increased to about 1.9 million bpd, from 1.6 million bpd, as a result of the maintenance works taking place in the Niger Delta region. According to NNPC spokesman, Garba Deen Muhammad, oil production rose to around 1.9 million bpd since last week.“Production has increased because we are making...

In Ghana, Kona Agro Processing Limited (KAPL), Brong-Ahafo’s biggest cashew processor stopped all operations, due to financial difficulties. The firm which employs around 250 people said it needs about $1.5 million to restart operations. KAPL’s challenges emerged in a context where local industries struggle to get the commodity. The unit, prior to closing, used to process around 1,500...

Egypt has received the shipment of petroleum products worth about $650million in May and June 2016 from Saudi Arabia, as part of the five-year agreement it entered into with Riyadh to supply its fuel needs. The five-year contract signed between the Egyptian Ministry of Petroleum and Saudi Arabia’s Aramco, includes the supply of petroleum derivatives to Egypt for five years, from May 2016,...

In Senegal, CKG Group Middle East and partners and South Korean firm SK Telecom submitted to the country’s authorities a joint offer of FCFA100 billion to acquire 4G licence. According to local newspaper l’Observateur, the new potential investors aim to get a universal licence which will enable them to directly start commercializing 4G. The rather “spontaneous” offer which is currently...

Algeria raised about 251 billion dinar ($2.27 billion) from the bond it issued last April 17, APS reported on June 25. Most of the subscriptions were made by bank agencies and insurance firms, while treasuries from wilayas collected 1% of these subscriptions. Subscription is opened to individuals, companies, financial institutions and public institutions. It can be made in commercial banks,...

In Nigeria, Union Dicon Salt Plc (UDS) replaced American giant Cargill as core investor in the $100 Alape Staple Crop Processing Zone in Kogi State. Under the project, UDS will cultivate cassava on 30,000 ha. “It is a remarkable opportunity for a local company to develop the agribusiness space in Nigeria,” said Chuka Mordi, one of UDS’ executives indicating that the firm is listed on...