In a statement released on May 31, 2016 and signed by Mohamed Moussa, adviser to the prime minister in charge of public-private partnerships, Niger’s authorities reaffirmed their strategic commitment with the French group Bolloré, for the Niamey-Cotonou railway project. According to Bloomberg citing Mr. Moussa, awarding this concession to Bolloré, which is currently managing various sea and...

South African group Naspers has achieved a record market capitalization of R1 trillion, or $US63.7 billion. A first for the group. On May 31, 2016 at 10:05 AM the group’s share was at R2,314.98 on the Johannesburg stock exchange where Naspers is listed. Naspers keeps enjoying its 34% stake in Tencent, China’s biggest Internet firm. A week ago, Tencent said it revenues for Q1 2016...

In South Africa, Anheuser-Busch InBev is a step closer to merging with SABMiller. In fact, South Africa’s Competition Commission (SACC) just gave conditional approval for the deal. While only approval by competition court is left for the merger, observers indicate that this step is more of a formality since this court generally approves all recommendations made by the commission. Among the...

Niger Delta Avengers, has again claimed responsibility for the destruction of more oil wells in the Niger Delta region. The group on Wednesday announced that it blew up Chevron’s RMP 23 and RMP 24 oil wells in spite of the heavy presence of the military in the region. Niger Delta Avengers has taken responsibility for various attacks on oil and gas infrastructure since February 2016, demanding...

Shell and Apache have signed an agreement with the Egyptian Ministry of Petroleum as regards the price of gas at the Apollonia field in the Western Desert. Under this new agreement the price of 1m thermal units will cost $4.6 instead of the initial $2.9. The gas proven reserves in the limestone layers in Apollonia field are estimated at about 700bcf. Following 19 days of work, Apache...

A delegation from the China-Africa Development Fund (CAD Fund) is presently in Cape Verde to study opportunities for investment in the country, Xinhua reports. The delegation which should stay in Cape Verde till June 3 is meeting local entrepreneurs to discuss with them funding opportunities that the fund has to offer. However, attention will be centered on tourism projects. “Entrepreneurs...

In a statement published on May 23, the Indian hotel management firm Sarovar Hotels said it planned to operate ten hotels in Africa in the next five years. Sarovar Hotels Pvt ED Ajay K Bakaya said: “This is a major step in our growth and expansion strategy and we are looking to operate 10 hotels in Africa in the next five years.” The Mumbai-based group also announced its entry in South...

The Tunisian Chemical Group (GCT) just received from the European Investment Bank (EIB) a €19 million loan. According to the statement revealing the information, the funding is to serve for the environmental upgrade of various important GCT facilities, this in order to reduce gas emissions and liquid effluents, and better treat solid waste. “Reducing the emission of greenhouse gases...

Mohammed Barkindo (photo), has emerged as the prime candidate to take over the position of the new secretary-general of the Organization of petroleum exporting countries (OPEC), with members seeing him as the rare candidate to lead the group amid mounting tensions between Saudi Arabia and Iran. There is a possibility that OPEC might choose Barkindo who was the former General Managing Director of...

Panoro Energy in its Q1 financial result and operational update on the Aje oil field located in Oil Mining Lease (OML) 113, offshore Lagos, Nigeria announced that the two wells in the field have tested in excess of 5,000 bopd each. After over 20 years of exploring for hydrocarbon resources off the coast of Lagos, Yinka Folawiyo Petroleum, in partnership with Panoro Energy ASA and First...