The Kudu gas-to-power project in Namibia is anticipated to see the Final Investment Decision (FID) taken by mid-2016. The project is to play a critical role in meeting the country’s power demand. Ever since the project landed on the drawing board, the costs have risen dramatically, doubling to about $2.3 billion. The project will require gas from the offshore Kudu field being piped to a...

According to Forbes Africa, the richest man in francophone sub-Saharan Africa is the Cameroonian Baba AhmadouDanpullo whose fortune has been valued at 547 billion FCFA. Riches he obtained from his multiple investments in real-estate, telecom and agro-industry. Truly, it is common knowledge that the former truck driver now billionaire detains 30% of Nexttel’s (third mobile operator in the...

Patrick LemougnaNinla, young Cameroonian scientist, has just been honoured in Yaoundé with the Kwame Nkrumah National Young Scientists Award which is under the helm of the African Union and the World Academy of Science for the advancement of sciences in developing countries (AU-TWAS). Receiving the distinction directly from the Minister for scientific research and Innovation, Madeleine...

Ethiopia is currently experiencing the worst drought of the last 30 years. According to the United Nations Organisation (UN), this climate disturbance is linked to the El Nino phenomenon which decreased the level of summer rain which represent 80 to 85% of the country’s pluviometry. The organisation, who wants to draw the attention of the international community on the risks inherent to the...

In South Africa, the price levels of yellow maize reached today their highest for this year. This variety of the cereal, which is essentially used for animal feed had its price spike at 3040 Rand per ton, which represents an increase of 41% compared to its level at the beginning of the year. Main reason given for this increase: the risk of a new drought. This fear was compounded as the weather...

The Emirati port operator Dubai Ports World (DP World) announced, in a communiqué published on 24 October having signed an agreement with the Senegalese government for the construction and development of a logistic free zone in the outskirts of the capital, Dakar. This zone will be built next to the new Blaise-Diagne International airport, not far from the container terminal of the Dakar Port...

Commenting on the economic situation of the country, Lamido Sanusi (photo) estimated that it was “a mistake on the part of the government of not devaluing the naira in the current challenging context”. Adebayo Adelabu, one of the vice-governors of the Nigeria Central Bank, replied to Lamido Sanusi, ex-boss of this institution and current president of the Blackrhino group: “Thanks for the...

Five African Countries have landed spots in the Top 10 of the less risked developing markets and frontiers in the commercial real estate development sector in 2015, according to a report published on 21 October by the investment consultancy firm Cushman & Wakefield. Botswana occupies the highest place on the podium in the “Emerging & Frontier Markets Assessing Risk & Opportunity...

The President of South Sudan Salva Kiir has fired the head of the Nile Petroleum company, which manages the country’s oil industry, as it continues to struggle with fuel shortage. In a decree, President Kiir stripped the managing director of Nile petroleum, Joseph Cleto, and appointed Moses Machar Achiek to replace him, Sudan Tribune reports. Moses Machar Achiek has served as undersecretary...

The Department of Petroleum Resources in Nigeria (DPR) has today warned petroleum products marketers in AkwaIbom against selling petrol above the stipulated N87 pump price or face sanctions. The Director of DPR Director, Mordecai Ladan (photo) while giving the warning yesterday in Abuja, told petroleum products depots and filling station owners to abstain from products diversion, hoarding, pump...