Federal Government on Friday swore not to reduce the number of staffs of the Nigerian National Petroleum Corporation (NNPC), following threats by Labour Unions to evade Imo state if sacked workers were not reinstated. The Minister of State for Petroleum Resources Ibe Kachikwu (photo), revealed this to leaders of the labour union at joint press conference organized by the Nigerian Union of...

In Zambia, Tata Power and Zesco (Zambian power utility) just commissioned the hydropower project of Itezhi Tezhi. “We are delighted to announce the commissioning of both units of the Itezhi Tezhi hydro power project. It is a major milestone for us as it takes us a step forward to make our international footprints stronger, said Anil Sardana,” CEO MD, Tata Power. The Indian firm has a 50%...

During a roundtable organized by Facebook with SMEs from Ghana and Nigeria, the social network explained how to reach its target with least possible investment. According to Facebook, more than 50 million small and medium enterprises worldwide actively use Facebook Pages, on mobile mostly. Among these, 2.5 million invest few dollars to boost visibility and efficiency. Nunu Ntshingila, Head of...

« Today you laid the first stone, better yet, together we planted the first seeds. And I foresee the impact of KINFOR fivefold at its second and third edition » said the Honourable Marie-Ange Lukiana Mufwankolo, National MP for the City of Kinshasa during his opening speech at KINFOR16. A truly international forum! With more than 500 entrepreneurs from three continents (America,...

On February 2, head of government of DRC Augustin Matata Ponyo said the fall in prices of commodities could compromise funding of upcoming elections, the presidential included. This implies that the fall could allow actual President Joseph Kabila to remain in power beyond December 2016 where elections are to take place. “If the price of copper falls to $2600 per ton and barrel of oil...

The Senegalese Customs Department celebrated the International Customs Day in its Dakar headquarters on January, 26, 2016 . On this occasion, Cotecna has been recognized and honored by the World Customs Organization (WCO ) who awarded a Certificate of Merit for rendering exceptional service to the international Customs community, signed by Mr. Kunio Mikuriya, Secretary General of the WCO. Mr....

Shell on Friday announced that it has suspended the Final Investment Decision (FID) on the $12bn Bonga South-West project in Nigeria due to the declining prices of crude oil in the global market. The company had reported that its profit dropped by 56 % in Q4 of 2015 compared to 2014, and its revenues decreased by 80 % to $3.84bn, from $19bn in 2014. According to the CEO...

Africa Oil Corporation has announced that it has finalized the initially announced farm-out with Maersk Oil and Gas for the 10BB, 13T and 10BA blocks in Kenya. On conclusion of the farm-out, Maersk Oil paid the company $427 million which includes $344 million of past costs incurred by Africa Oil prior to the agreed March 31, 2015, and $83 million, Maersk’s share of costs...

Equatorial Guinea has launched a new Compressed Natural Gas (CNG) plant which will power a number of public buses. This facility was officially unveiled by President Teodoro Obiang Nguema Mbasogo, the Minister of Mines, Industry and Energy Gabriel Mbaga Obiang Lima, and executives of the national gas company Sonagas on January 26, 2016. Situated close to the Punta Europa gas complex to the west...

Consortium including Turkish STFA Group, Société Générale des Travaux du Maroc (SGTM) and Luxembourg group Jan de Nul (JDN) is the winning bidder of call to offer for the construction of Nador West Med port complex, Moroccan newspaper L’Economiste reported on February 4. The consortium presented the most affordable bid, 7.61 billion dirham (1 dirham = $0.10), the newspaper added...