As part of the cooperation between the West African Development Bank (WADB) and FAGACE, Mr. Henri Marie DONDRA, General Director of FAGACE and Mr. Bassary TOURE, Vice-President of WADB, have signed on Wednesday 07/10/2015 in Cotonou a surety agreement of FCfa 4.9 billion for the benefit of the company KALYAN HOSPITALITY DEVELOPMENT TOGO SAU. On this occasion, a guarantee agreement between the...

Angola’s state-owned oil firm Sonangol has today announced that it plans to award exploration rights to its onshore prospects by December this year. Angola is to award a total of 10 contracts. Out of those, seven contracts will be for blocks in the Kwanza River basin and another three in the Congo River basin. The country is thought to have reserves of around 10.4bn bbls of crude oil, about...

South Africa-based combustion company The Combustion Group (TCG) has today been appointed by global energy Solutions Company Caterpillar’s gas turbine businesses Turbomach and Solar Turbines Incorporated as its South African representative that will market its products in its power generation business. Subsequent to this appointment, which took place in August, both Turbomach and TCG have...

The Nigerian National Petroleum Corporation (NNPC), Nigeria's state oil company, has lifted a ban on over 100 vessels due to suspected oil theft, but asked ship owners last month to sign a letter of comfort to "guarantee to indemnify" it against any illicit use of their vessel. This led some owners to reject pending bookings but Shell had no immediate comment. However towards achieving this...

The government of Sudan has announced it recently had talks with china over financial and technical arrangements for implementing a plan to enlarge the country’s largest refinery. Sudantribune reports The refinery, situated 70 klm north of the country’s capital, was created as a 50-50 partnership between the Sudanese Oil Ministry and the Chinese National Petroleum Company (CNPC)....

Energy company Chevron South Africa has today appointed Shashi Rabbipal as its new executive chairperson. He is to lead the company’s corporate governance team, direct the company’s continued progress on transformation and focus on establishing and maintaining relationships with important external stakeholder business partners. Rabbipal, who holds a BA (Law) degree and a BProc degree from...

The Luxemburg telecom group Millicom International Cellular, operating in several African markets under the mark of Tigo, has acquired a 24% interest in the capital of the telecom infrastructure management company Helios Towers Africa. The two companies announced that this acquisition of shares by Millicom in Helios Towers Africa follows a reorganisation in capital. In effect, Millicom exchanged...

Rift Valley Resources Ltd, a mineral exploration company listed on ASX, has displayed fruitful efforts during the year 2015, marked in Angola by ministerial approval in February 2015, of its mineral exploration contract and investment, without any modification. The contract had been signed in 2014 between its subsidiary held at 70% by Ozango Minerais SA and the company Ferrangol EP entirely...

In Algeria, there will be legal proceedings against the TV station El Watan for "attack on state symbols and the Republic". Here is the reason found by the minister of Communication, Hamid Grine. He made the announcement this 7 October 2015 during a Forum organised by the daily El Moudjahid. Indeed, the broadcast of an interview of Madani Mezrag, former Head of the Islamic Salvation Army (AIS),...

Companies listed on the Casablanca Stock Exchange registered a decreasing financial performance during the first half of 2015, despite an increase of 4.3% in the global economic growth during the second quarter. The global revenue of these companies was of 120.1 billion dirhams, decreasing by 7.2% and the net global profit was of USD 9.8 billion, decreasing by 32%. However this negative result...