Thursday, December 5, 2019
Guinea will be allowed $650 million in non-concessional borrowing under a new three-year International Monetary Fund (IMF) programme, allowing it to boost spending on infrastructure projects, the finance minister said on Tuesday. The IMF is itself lending Guinea - Africa's...
The African Development Bank disbursed more than €71 million for the construction of a 714 km high voltage power line. The infrastructure which will link N’Zérékoré (Guinea) and Sanankoroba (Mali), will enable the electrification of 201 villages and provide a...
Crude oil prices rose above $70 a barrel yesterday, signalling that production cuts by the Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC had helped in tightening supplies. International Benchmark Brent crude oil sold for $70.13 per barrel during...
* Privately-held New Age (African Global Energy) said on Thursday its appraisal well to determine the extent of the Etinde field offshore Cameroon was successful. * Partners in the field comprise Bowleven and Lukoil . * “The recently completed second well,...
Multi-asset Africa-focused energy and resource company, Kibo Mining, has announced it has completed the acquisition of an 85% interest in the Mabesekwa Coal Independent Power Project (MCIPP) with Sechaba Natural Resources Limited. Located in Botswana, the project  complements Kibo’s Mbeya...
The Emerging Africa Infrastructure Fund (EAIF) will be supporting the refinancing of Mozambique’s latest power station. The fund has signed a Participation Agreement with the International Finance Corporation (IFC), and will be supplying US$21mn in a B loan to the...
The renewable energy sectors of Ivory Coast and Morocco have both received a boost to further develop their planned projects. The African Development Bank (AfDB) has approved $324 million in loans to support renewable energy projects in these two countries,...
Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43,000, returned to his family 900 miles away...
The Transmission Company of Nigeria (TCN) is set to upgrade seven critical transmission line across the country. Managing Director/CEO of TCN, Mr Usman Gur Mohammed announced the reports and the said the aim is to raise transmission wheeling capacity to 10,000 megawatts...
Burkina Faso has launched West Africa’s largest solar power plant- Zagtouli solar power plant. This is in a deliberate move by the country to boost renewables and cut energy dependence on its neighbours. The US $56.27m project has been funded in part...
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