In Morocco, Diana Holding has entered the sea products market. The group which up till now was investing in sectors such as agriculture, husbandry or soft drinks, now takes control of Atlantic Sardines Anchovies Tantan (Asat), a subsidiary of El Jabri. According to the agreement whose amount was not disclosed, Diana Holding will invest in the construction of a sardine-mackerel manufacturing...

Atlas Mara is about to overtake a new bank in Africa, co-founder of the African banking focused investment holding, announced on May 7, 2016. “The targeted bank operates in one of the seven African countries where Atlas Mara has a branch,” said Barclays’ former chief executive at an African summit organized by the London Business School. However, he declined to reveal if the bank...

Cote d’Ivoire is considering the sale of its minority stake (49%) in local subsidiary of French group Orange, on the Bourse Regionale des Valeurs Mobilieres of Abidjan, Bloomberg said citing government’s spokesperson, Bruno Koné (picture). It’s something that’s being considered, said Koné adding that government was not in a hurry and would wait for the right time to proceed. Since the...

Things seem to be looking brighter for Zambia on the macroeconomic plan. Pressure on the country’s exchange reserves decreased and its public debt is more bearable. This is what show various indicators analyzed by IMF in its global outlook, updated last month. Behind this improvement is the hike in price of copper, which allowed the kwacha (local currency) to strengthen to dollar, thus...

Burkina just released its targets for the 2016-2017 grain season. APA has in fact announced that the country plans to produce 4.7 million tons up 12% compared to the previous season. To achieve this, the government says it will focus on supporting farmers, hydro-agricultural development of arable lands and provision of fertilizers. More specifically, 24,500 hectares, half fo which are lowlands,...

Sonangol has granted Engineers India Limited (EIL) a contract to provide services related to the construction of the Lobito refinery in Angola. Under the contract, EIL will provide the Angolan state-owned oil company with Front End Engineering Design Revalidation, Licensor Selection and Basic Design and Engineering Package Review at an undisclosed value. The Lobito refinery is expected to come...

In Kenya, the Oil Transport and Management Agency on Monday revealed that the 122 km Nakuru-Kisumu pipeline which will boost the supply of oil to western Kenya and the entire East African region has concluded. The pipeline currently delivers 39 million litres of oil per day to the Kisumu depot, compared to the previous 12 million litres. According to the Communications Manager at the Agency,...

Tullow Oil has revealed that its Tweneboa, Enyenra and Ntomme (TEN) field project in Ghana, is now 90 % complete and its first oil is still on schedule for July and August 2016. The Floating production storage and offloading (FPSO) vessel, Professor John Atta Mills, for the project was received in Ghana on March 2, 2016, confirming its willingness to drill its first oil. According to the...

Sterling Energy plc has announced that it has concluded its withdrawal from the Ambilobe block, offshore Madagascar. The company had announced two weeks ago that it would exit the block, in order to concentrate on short-term income generating assets. Before Sterlings withdrawal, the company was the operator of the block with a 50% interest alongside Pura Vida also with 50%. Upon its departure,...

A series of attacks in the Niger Delta region of Nigeria, counting the recent attack on Chevron’s offshore facility by the newly established Niger Delta Avengers, are indications that the local economy might soon be crippled. These persistent attacks in the region have made Shell to withdraw most of its employees from the Eja OML 79 production facility where production has been postponed. 98...