“The government of the Republic of Kenya, having taken into consideration its national security interests, has decided that hosting of refugees has to come to an end,” senior official at Interior Ministry, Karanja Kibicho said. The move which implies the closing of the Kakuma and Dadaab refugee camps, concerns mainly Somali refugees. Nairobi wishes to repatriate them as soon as possible....

South Africa’s national household bank debt now represents 77.8% of disposal income, a recent report published by the South African Reserve Bank revealed. This situation, according to analysts, present no risk yet but threatens the country’s economic stability, as saving levels are low while interest rates and inflation are up. In fact, the country’s banking industry has started suffering...

HSBC Group is supposedly evaluating its operations in Algeria and could exit the country, in the framework of a strategy to reposition itself in more profitable markets, Bloomberg said citing sources close to operation who demanded not to be named. The group has not taken any decision yet and its management declined comment regarding the information. However, its CEO, Stuart Gulliver, maintains...

SDX Energy has announced that it has commenced a private placement to raise about $11 million to further operations in Meseda, Egypt. According to the company, for the time being a total of 42,201,835 new common shares of no value in its capital has been placed at an issue price of 18 pence per placement share with new and existing institutional investors, directors and senior...

Ghana National Gas Company (GNGC) has started receiving gas from the Floating production storage and offloading (FPSO) vessel, Kwame Nkrumah, after it was shut down three months ago. In spite of the recommencement of the FPSO, only 20 Mmscf of gas will be produced compared to the 120 Mmscf it produces before, City Business News reports. Gas production from this vessel is expected to increase to...

In Nigeria, Integrated Oil and Gas Limited has revealed that its 20,000 bpd modular refinery at Tomaro Island off the coast of Apapa port zone Lagos, will begin production in 2017. According to the Chief Executive Officer of Integrated Oil & Gas Limited, Emmanuel Iheanacho, every required measures are currently being taken to make sure that the refinery is delivered on schedule. He said...

In Algeria, the Minister of Energy has said that the country’s oil production is expected to increase to 45 million tpy by 2024 with the commissioning of refineries at Hassi Messaoud, Tiaret and Biskra. According to Salah Khebri, the country’s per year production of oil products such as petrol, diesel oil and other fuels reached 30 million tonnes per year after the refineries at Skikda,...

Rosneft has announced that it has delivered its first LNG shipment to the Egyptian Natural Gas Holding Company (EGAS). This shipment is the first out of five shipments of LNG that Egypt had agreed with Rosneft under a memorandum of understanding signed in 2015. The MoU had included a provision of petroleum products as well as 24 LNG cargoes but only five of the 24 cargoes earlier agreed upon...

Miner Lucara Diamond has recorded during the first quarter of 2016, financial results, better than in Q1 2015. According to the new results, the firm had $50.6 million of revenues against $29.6 million during the first semester of 2015. Adding the $53.1 million it got from the Karowe diamonds sales last month, revenues total $100 million. Treasury was at $144.3...

French group Bernard Hayot which is already present in Morocco’s automobile distribution sector, reinforced its footprint as it overtook Pneurama, the kingdom’s leader in terms of pneumatic distribution. The transaction happened through a direct share purchase from former shareholders (the Soussana family) and a capital increase reserved for GBH, by 103.5 million dirham ($10.7 million)....