ICBC Standard Bank, formerly wholly owned subsidiary of the South African banking group Standard Bank was finally sentenced Monday, November 30th by British justice, to pay a fine of $ 32.6 million, in the framework of a corruption case which occurred four years ago in Tanzania and involved its local subsidiary Stanbic Bank Tanzania. Shareholders of the penalized bank are still to decide on...

In Egypt, the court has condamned a TV presenter to 6 months in prison. Mona Iraqi was indeed found guilty of falsely accusing 26 men of homosexual debauchery. In December 2014, after receiving the presenter’s claim about homosexual activity in a bath house in Cairo, the police raided the location and arrested 26 men who were almost nude. Among these were the facility owner and 4 employees....

Muhammadu Buhari, the President of the Federal Republic of Nigeria, and Jacob Zuma, his counterpart from South Africa, planned to discuss on the fate of the Nigerian telecoms subsidiary of South Africa's MTN Group on the 5th of December 2015. The meeting will be about the 5.2 billion dollars fine issued to MTN Nigeria alongside the sixth Forum on China-Africa Cooperation (FOCAC) which will be...

As a preparation for the China-Africa Summit which is to be held in South Africa on 4-5 December 2015, a media summit is to take place this December 1st. This is an initiative of the Information Office sponsored by the council state of the People’s Republic of China, and co-organized by the Chinese group StarTimes and the South African group Naspers. Under the theme "a new win-win era of...

The 48 world’s poorest countries will require $1,000 billion between 2020 and 2030 to implement their strategies to mitigate the effects of global warming. According to a report published by the International Institute for Environment and Development (IIED) and based on the contributions to tackling the crisis released by the concerned countries, these countries will require an amount...

The Independent Petroleum Marketers Association of Nigeria (IPMAN) in the Western zone, today reaffirmed its commitment in working with the federal government in ending the ongoing fuel scarcity affecting the country. According to IPMAN, the association is prepared to load fuel from the Nigerian National Petroleum Corporation (NNPC)’s fuel depots and distribute to various filling...

Simba Energy has announced that it plans to begin seismic program on its Block 2A in Kenya in early 2016 and it is presently coordinating with Essel Group its new partner. The seismic will include the acquisition and interpretation of up to 500 line km of 2D seismic data. The seismic data is aimed at identifying possible locations at Block 2A, where the company can drill initial exploration...

Sterling Energy Plc in its update on the Ntem Concession, offshore Cameroon, noted that it was conscious of the fact that the country’s state-owned Société Nationale des Hydrocarbures (SNH) on its website included a map signifying that the concession is an open block. (http://www.snh.cm/Appel_Offre/Blocs-Promotion-Bassins-Rio-Del-Rey.pdf) According to Energy-pedia, Sterling Energy plc...

Activities has commenced on Cepsa and ERHC Energy’s Tarach-1 well on Kenya’s Block 11A in anticipation of drilling programme to be performed by the end of Q1 of 2016 and a drilling service contract has been awarded following a tender. The block also witnessed logistics operations before drilling commences. The Tarach-1 well situated in the central part of the Tarach Basin, is demarcated by...

Lekoil Limited has announced that it has agreed to purchase Afren’s 22.86 % interest in the OPL 310 block which holds the Ogo discovery, offshore Nigeria, Offshore Energy Today reports. Under the agreement, Lekoil is to pay $13 million for the deal. Meanwhile, Lekoil through its subsidiary Mayfair Assets and Trust, holds a 17.14% participating interest and a 30% economic interest in...