The Nigerian group BUA recently revealed that it was negotiating with the Chinese firm Sinoma CDI regarding cement and steel projects. According to Reuters, BUA and its associate will invest $1.9 billion in the construction of a steel plant in Nigeria and in two cement plants in Eastern Africa. The business mogul Abdulsamad Rabiu, owner of BUA group, said the two cement plants will...

South African Liquor dealer, Distell, just announced it was going to scale down its plans for expansion in Angola. As a result of oil price tumbling, Angola who accounts for 50% of the Distell’s African business exhibited a quite challenging trade environment for the company, thus considerably slashing its performances in other African nations. Distell as a result decided to scale back plans...

Rating agency Moody’s revealed in a report published February 18 that downside risks on global growth have increased as tighter market conditions and risk aversion add to the fall in oil price and slowdown of China’s economy. “Risks on global growth have increased since our last forecast (November), the fall in oil prices and concerns over weakening Chinese economy (…) added to a surge in...

1 million. That is the number of cars that Peugeot plans to sell in Africa and Middle East in the next 10 years. To meet this challenge, Africa, most especially Southern Sahara, is the market where Peugeot plans to make its grand comeback. That is the reason behind the “Emotion est de retour” advertising campaign that the firm launched in the main sub-Saharan markets namely Cote d’Ivoire,...

In Central African Republic, Faustin Archange Touadera took a major lead on his rival in Bangui during the second round of the presidential elections, the National Election Authority (ANE) revealed. Asides in the second district where both candidates had close scores, Faustin Archange Touadéra had a comfortable lead in most of Bangui’s vote offices, partial results released by ANE show....

Petroceltic International on Thursday announced that it has finalized the sale of its exploration interests in Egypt to Edison International. After successful approvals from the Government as well as the relinquishment of pre-emption rights held by the Egyptian Natural Gas Holding Company (EGAS), the deal has now being formally completed and funds have been received. The company had announced...

Woodside Petroleum on Thursday announced that it has extended its exploration acreage in Africa by securing interests in waters off Senegal and Guinea-Bissau. The company’s agreement with Impact Oil and Gas allows it to purchase a 65 % interest in a 6700 km² production sharing contract (PSC) in the AGC Profond permit off the coast of the countries. Earlier this month, Impact had...

Victoria Oil & Gas, has signed a deal with Glencore Cameroon and Afex Global regarding the Matanda Block in Cameroon. Under the deal Glencore Cameroon will assign 75% of its participating interest in the Matanda Production Sharing Contract (PSC) to Victoria. This allows the latter to take over the operatorship of the block from Glencore Cameroon, through its subsidiary Gaz Du Cameroun...

Japanese company Sumitomo said it will soon build, in Mozambique and Tanzania, two gas-fired plants totaling a capacity of 350 MW. Mozambique’s plant will be built near Maputo, the capital city, and generate 110MW. Costing $149 million, it should be operational in 2018. The infrastructure, once operational, should meet 20% of the national power demand. As for the Tanzanian plant, it...

The Egyptian satellite company NileSat, plans to expand in Africa and grab the opportunities offered by the digital transition in Africa namely in Tanzania, Uganda, Rwanda, South Sudan, South Africa, Angola and Nigeria. With Terrestrial Digital Television coming online, more channels will be satellite-hosted and NileSat does not intend to miss that train. The Egyptian operator who currently...