Tuesday, May 26, 2020
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...
South Africa’s power utility Eskom Holdings, is set to expand its transmission network after the African Development Bank (AfDB) approved a US $218m loan to help fund the upgrade and expansion of its transmission facilities. The funding will consist of...
JPMorgan Chase & Co plans to expand its African presence into countries including Ghana and Kenya, Chief Executive Jamie Dimon said in an interview on Wednesday. “You’ll see us open in some countries we are not in, in Africa you’ll...
Nigeria’s state oil firm NNPC has extended its crude-for-product swap contracts, the country’s main avenue to meet the bulk of its fuel needs, until June 2019, sources familiar with the matter said. Despite having a refining capacity of about 445,000...
Algeria’s state-run oil company Sonatrach signed an agreement, Monday, with the Libyan National Oil Corporation (NOC) to run a number of crude oil fields located on the borders between the two countries. The agreement included updating a study that was...
Exxon Mobil Corp. resumed talks with Ghana Oil Co. as the oil supermajor nears a deadline to find a local partner for the exploration of crude at an offshore field, according to people familiar with the matter. Talks between Exxon and...
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...
A responsAbility-managed energy holding company has acquired a 26% interest in Renewable Energy Holdings (REH), the owner and operator of run-of-river hydropower projects in Southern Africa. REH is the majority owner and operator of the 3 MW Sol Plaatje, the...
The European Investment Bank (EIB) is finalising a Sh7.5 billion ($78 million) loan for construction of two solar power plants in Kenya. The credit is evident that there is growing interest by global organisations in financing renewable projects in the...
At least five oil consortiums said they were considering a proposal from the state-run Nigeria National Petroleum Corp. to prolong a crude-for-fuels swap program until the middle of next year, people familiar with the matter said. Extending the swap would...
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