Nizar Bouguila, CEO Tunisie Telecom, announced on May 11, 2016, that the installation of fiber optic across Tunisia would be accelerated, by 2017. The executive said this on the second day of a property promotion event, held in Tunis and entitled “Promotion immobilière, outil de reliance économique” (Promoting estate development, a tool to restart the economy). Accelerating the...

Fishery was in 2015, Senegal’s main source of export, revealed Oumar Guèye, Senegal’s Minister of Fishery and Maritime Economy. “In 2015, fishery was our main source of export. It generated FCFA194.6 billion which equals 20.8% of export revenues and contributed to 3.2% of our GDP,” he said. Aiming to reinforce this trend, Mr Guèye said he was focusing his efforts on his intervention...

Global demand in energy will increase by 48% from 2012 to 2040, thus 1.4% average yearly. This was revealed in a study published by US’ Energy International Agency. Global energy consumption will thus soar from 548 quadrillion British thermal units (Btu) (around 158.92 quadrillion watt-hours) to 815 quadrillion Btu (around 236.35 quadrillion watt-hours). A quadrillion is 1,000 times a...

Over the previous quarter ended March 31, 2016, the French Group Bolloré has recorded its lowest turnover since 2012. The value which was €2.4 billion, was 9% down compared to revenue generated at the end of March 2015. The past quarter is thus the least profitable for the group over the past fourteen quarters (starting from Q4 2012). Though first quarters usually show the lowest...

San Leon Energy has announced plans to raise not less than $200 million via a share placing priced at a significant premium, so as to fund the procurement of an indirect interest in OML 18 oilfield in Nigeria. OML 18 is an onshore producing oilfield located in the Southern Delta region. Formerly operated by Shell, the field covers an area of 1,035 km². The company at the moment has 61.8...

lgeria has signed a memorandum of understanding with Jordan to supply oil and other energy products for the first time, as the country seeks to diversify its sales following years of deteriorating oil production. According to the head of natural gas department at Jordan’s Ministry of Energy & Mineral Resources, Hasan Hiari, the deal with Sonatrach Group includes crude oil, liquefied...

Sound Energy in its operational update on the Tendrara well onshore Morocco, announced that the first well has been drilled to the second casing point at a measured vertical depth of 1,316 metres. The casing point is the location or depth in a well at which the casing (a steel pipe placed in an oil or gas well to prevent the wall of the hole from caving in and to aid in well control) is set and...

The Kenyan Ministry of Energy has announced that 17 new oil exploration blocks have been added to the initial blocks, thereby bringing the total numbers of blocks created to 63. The Ministry said these blocks will be auctioned in a licensing round in 2017.“We gazetted 46 oil blocks in 2012. But after the new production sharing contracts, we agreed with companies to relinquish between 20 to 25...

Zambia is to start receiving cheaper oil from Saudi Arabia to ease domestic fuel prices for the next five years. The Saudi Arabian government through the Saudi Fund for National Development has granted the country a $20 million revolving fund to supply cheaper oil to Zambia. According to Zambia’s Ambassador to Saudi Arabia, Ibrahim Mumba, the offer is now in its last stages and with the...

A consortium of investors led by private equity firm Abraaj Group is planning to bid for a minority stake (35%) in Barcalys’ African unit, Bloomberg reported on May 13, 2016, citing sources close to the case. Abraaj Group has already hired financial advisers to this end and is currently in discussions to team up with other investors, including a Middle Eastern sovereign fund, revealed the same...