Rwanda’s Bank of Kigali has priced its rights issue at 270 francs per share, seeking to raise 60 billion francs ($67.81 million), it said in a statement seen by Reuters on Friday. The lender, which is Rwanda’s biggest by assets, is offering one new share for every three held, issuing a total of 222.22 million…
Details On 2 July, the PSA Group – manufacturer of the Peugeot, Citroën, DS, Opel and Vauxhall brands – produced its first vehicle assembled in Morocco at the brand new factory in Kenitra’s Atlantic Free Zone (AFZ), north of Rabat. Commercial production is due to start in March 2019, with an initial output of 100,000 vehicles a year.…
Details * 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, IE-4, was targeted 2.8 (kilometres) north west of the discovered IE field … a…
Details 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 barrels per day, its plants have been underperforming for years, making Africa’s biggest oil producer…
Details 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 barrels per day, its plants have been underperforming for years, making Africa’s biggest oil producer…
Details Sub-Saharan Africa’s economic recovery will progress slowly into next year, as the continent’s biggest drivers struggle to move into higher gear despite a healthier global economy, a Reuters poll found on Friday. A dairy worker helps to process youghurt milk at the L & Z milk processing factory in Nigeria’s northern city of Kano January…
Details The Democratic Republic of Congo gave two groups of investors a four-week deadline to submit a joint proposal on the development of the multi-billion dollar Inga 3 hydropower plant. The government signed an accord with Chinese and Spanish consortia this week to advance the 11,000-megawatt facility, the first time it’s formally appointed entities to draw…
Details 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 allow the West African country to ensure a vital, steady inflow of products like gasoline…
Details Tanzania recently awarded a $1.92 billion contract to Turkish firm, Yapi Merkezi, to design and construct a 422-km (262-mile) high-speed electric railway line which is part of a major 2,561 km network project that will connect the east of the country to the north. However, the government has involved the military in the construction of…
Details Tanzania recently awarded a $1.92 billion contract to Turkish firm, Yapi Merkezi, to design and construct a 422-km (262-mile) high-speed electric railway line which is part of a major 2,561 km network project that will connect the east of the country to the north. However, the government has involved the military in the construction of…
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