ERHC Energy in its operational update on exploration progress in Kenya Block 11A, where plans are ongoing to drill the Tarach-1 exploration well close to the end of Q1 of 2016, announced that the rig to be used is currently being dispatched to the site where concreting work and installation of conductors have been completed.  According to the company, the contractors have concluded more...

Egyptian president Abdel Fattah Al Sisi said the construction of the country’s first nuclear plant would begin next month. “We have reached an unprecedented level in the development of our national power grid. We are organizing to face the upcoming growth of demand in energy and it is in this framework that we signed the contract for the construction of the Dabaa nuclear plant. Construction...

Kenya Airways, accumulating losses for the past three and a half years, has selected the American investment bank PJT Partners to advise on long-term capital-raising and restructuring of balance sheet, Reuters reported on February 16. “PJT Patners which offers strategy, restructuring and fund-raising services will work with us over the next sixth to nine months, said the airline’s chief...

Mobile operator Vodafone has launched its Ready Business Meter service to help companies better address technological challenges inherent to the Egyptian market, dailynewsegypt.com reports. This is a metric that will measure the technological preparedness of companies. If weak, the telecom company tries to raise it so as to boost profitability both operational and financial. According to...

The Ethiopian minister of water, irrigation and energy, Motuma Mekasa, announced that construction of Grand Renaissance dam was to immediately restart and competed. The official said there was no reason for works to be halted. Expected to be completed in 2015, the 6,000MW electric dam will have a 63 billion m3 reservoir which is even the reason for delay in construction. Indeed, Egypt fears...

In Senegal, Agence Internationale d’Insertion et de Developpement Agricole (Anida) plans to establish 200 agricultural farms by 2017. To do so, the company intends to mobilize FCFA20 billion. According to El Hadj Malick Sarr, head of the institution, the project aims “to make agriculture an engine for sustainable growth in order to create jobs by 2017”. Government provides financial...

The government of Japan will announce financial aid to some 60 projects in Africa during the sixth Tokyo International Conference on African Development (TICAD VI) which will take place on August 27th and 28th in Nairobi (Kenya), The Japan Times reported on February 14, 2016, citing a source from government. This aid, whose amount has not been revealed, is to mainly go to infrastructure...

In Mali, Excel TV, the pay-TV operator specialized in the retransmission of digital images has been suspended on February 11th on order of Minister of digital economy, Information and Telecommunication, Choguel Maiga. For some time now, the minister has contested the agreement between Excel TV and Office de Radiodiffusion Television du Mali (Ortm). Under this agreement, Excel TV has the rights...

Caledonia Mining announced it has sold forward 15,000 ounces of its gold production under a six-month collar and cap arrangement. Collar price is $US1,050 per ounce and cap price is $US1,080 per ounce. With this insurance, the mining firm will deliver the gold within the timeframe of contract, six months, with a weekly payment. Upon each payment, the range will serve as reference. If...

Ocean Rig UDW, has announced that one of its drilling contracts has been terminated. As a matter of fact, Total E&P Congo had on February 11, 2016 announced the termination the long standing contract of the 7th generation ultra-deepwater drillship Ocean Rig Apollo for convenience. Ocean Rig said it is eligible to a termination fee ranging from 50% to 95% of the daily operating rate which is...