After the World Bank, the International Monetary Fund and the rating agency Moody’s, the Organization for Economic Cooperation and Development (OCDE) on February 18th scaled down forecasts for global economic growth. The Paris-based Organization has indeed slashed, for the second time in three months, its forecasts for global growth. It has scaled the figure down to 3%, against 3.3% last...

Oil prices dropped on Friday as talk of plans to freeze production levels was altered by an increase in U.S. crude records, Reuters reports. Brent futures dropped by 35 cents at $33.93 a barrel on Friday morning with U.S. crude falling by 36 cents to $30.41. Oil prices increased by over 14 % this week driven by Saudi Arabia and Russia's decision to freeze production at January...

ASKY, the Pan African Airline informs its esteem passengers that due to rehabilitation work of the Douala International Airport, the Airport will be closed following communique from authorities from 1 st to 21st march 2016. ASKY, wishes to reassure passengers that the airline in collaboration with the authorities have made all necessary arrangements to ensure continuity of service and flights...

Zambia has closed its only 24,000 bpd Indeni refinery, after discovering that the crude oil supplying the plant was too acidic to process, Reuters reports. According to the country’s Energy Minister, Dora Siliya, another crude supplier had been found and the refinery will come on stream in about a month. Built on January 1, 1973, Indeni supplies half of Zambia's refined products. Located in...

Kenya is planning to transport its crude oil to Mombasa by road and railway as it make moves to join the export markets before the commencement of the general election scheduled for August 2017. The Energy ministry has granted Rift Valley Railways (RVR) the contract to transfer the oil from as February 2017 through a distance of over 800km, from Eldoret to the Kipevu-based Kenya Petroleum...

In Cote d’Ivoire, religious, traditional healers, heads of NGOs and associations, are no more allowed to be featured on TV and radio shows, public or private. Medias now have to create a specific communication space where these entities will broadcast their adverts or promotional films. However, prior to broadcasting, they will be subjected to a “strict control”. These measures were...

As Nigeria suffers from the actual global plunge in oil price, the Nigerian banking group First City Monument Bank (FCMB) plans on expanding to at least two African countries, Bloomberg reported. We have identified a key market in East Africa and another key market in West Africa, FCMB’s Chief Financial Officer Patrick Iyamabo told Bloomberg without more details. «Alors que le Nigeria passe...

National Telecommunication Regulator INT sanctioned Orange Tunisie over illegal business practice. This was revealed in a release which the regulator published on his website. Fact is, INT’s administration met on January 27, 2016, to discuss the fate of the telecom company after failing to respect laws and regulation related to the displaying of commercial tariffs to public. In this case, the...

Under its “One world, No hunger” programme, Germany just injected €15.5 million into Togo’s Agriculture. According to the terms of the agreement initialed by Togo’s Minister of Foreign Affairs, Robert Dussey, and German ambassador to Togo, Christophe Sanders, one of the major points of this project is the establishment of a green innovation centre. This institution will help...

Egypt plans to suppress total subsidy to electricity by 2025. In this framework, it intends to cut this subsidy by 50% by 2020. Government is in fact planning to reduce this subsidy to $2.65bn in the next fiscal year from $3.59bn currently. Alongside the reduction of subsidy, there is the increase of electricity tariffs to cost-reflective levels. Indeed, the country produces kilowatt...