In Equatorial Guinea, the Ministry of Mines, Industry and Energy, has said that the country’s gas company Sociedad Nacional de la República de Guinea Ecuatorial (SONAGAS), is to commence the marketing of its share of Liquefied Petroleum Gas (LPG) which was produced at the Alba Plant situated on Bioko Island to international buyers. Indeed, negotiations...

Amara Mining Plc, gold exploration group with assets in West Africa, has re-evaluated resources at its Yaoure property in Côte d’Ivoire to 7.3 million ounces with an increase of 20% in grade to 1.5 g/t. The London-listed gold mining company which owns 100% of the Yaoure project publicly released this update on November 24. Commenting on the update, CEO of Amara Mining, John McGloin said it...

While traditional telecom operator Maroc Telecom delays in the release of its full unbundling offer as required by the National Agency for Telecom Regulation (ANRT), mobile telephony operators have started investing in ADSL. In fact, Inwi just launched its first offer for fixed-line broadband Internet named I-Dar ADSL for individuals. This service offers customers an unlimited access to...

On November 23, 2015, the Moroccan refiner (SAMIR) submitted to the Casablanca trade court, a non-adjudicative resolution procedure. In case it is successful, this initiative, in regards to Morocco’s business legislation, could allow the firm to get rid of its creditors namely Morocco’s government, for a certain period of time. The final decision as to approve the appeal therefore lies in...

Lesotho is the country which has the lowest total average tax rates for businesses, the Paying Taxes 2016 published by PricewaterhouseCoopers (PwC) and World Bank reports on November 19. Based on the 2014 tax legislation which defines a model-business, the report which evaluates annual taxes and compulsory contributions of small and medium enterprises (tax on profits, contributions and social...

On Friday 27, 2015, Senegal will host the very first edition of Black Friday where big sales discounts will be offered on various products. The event is an initiative of Jumia, one of the major e-commerce dealers in Africa, and Hello Food, which is specialized in food delivery in Senegal. Director of Jumia Senegal, Patrick Farnole, said that “the aim of the Black Friday was to offer...

In South Africa, power company Eskom just signed an agreement with Agence Française de Développement (AFD) for the provision of a R3.2 billion loan (€214 million). The loan will be injected in Eskom’s distribution projects in the Eastern Cape, Limpopo and KwaZulu-Natal. These include grid strengthening, refurbishment, improving reliability, split metering and upstream grid reinforcement...

South Africa’s insurances N°1 Sanlam announced in a release published November 24, it was going to acquire a 30% stake in Moroccan firm Saham Finances for US$ 375 million, in the framework of its expansion plan in the Northern and Western parts of Africa. Saham will acquire these shares from World Bank’s subsidiary International Finance Corporation (IFC), and Abraaj group, the same release...

Towards improving its service delivery to customers, Total Nigeria Plc., has revealed plans to lunch extra eight solar-powered filling stations to complete a total of 10 competent stations throughout the country. The Managing Director of Total Nigeria, Alex Vovk, disclosed this during the launching of its Top Service scheme in Lagos. He stated that the company already has one solar-powered...

In Mozambique, the government has agreed to grant ONGC Videsh Ltd (OVL), the right to recover costs for one of its project in the country. Indeed, the company is to construct in Mozambique, a Liquefied Natural Gas (LNG) terminal to store gas products which are to be exported.This project is expected to be one of the biggest worldwide, with a capacity to produce 20 million tons of LNG every...