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Controversy is growing over the award by President Joseph Kabila of an oil exploration permit in the Virunga National Park, home to some of the world’s last few mountain gorillas. But while international organisations are urging the government to protect the park, MPs from North Kivu want exploration to go ahead in the hope of bringing development cash to the region.
The future direction of Egypt’s energy industries will remain uncertain while different political constituencies transact the transfer of power to a representative civilian authority
Political risk insurance (PRI) and other risk mitigation markets are having to adapt to the more difficult outlook. Egyptian General Petroleum Company (EGPC) has become a particular focus for PRI underwriters and the price of cover ""has more than doubled for Egypt and Tunisia since the crisis period began
The longest and largest domestic project financing in Botswana pula, a BWP1.2bn ($179m), nine-year deal to fund a major expansion at Morupule colliery, “is about to close”, according to an informed source.
The African Development Bank board has approved a $25m senior private sector loan for ContourGlobal’s KivuWatt gas to power project, the first large scale private sector investment in power generation in Rwanda
Sonangol is increasingly playing the role of a sovereign wealth fund, diversifying its activities outside its core oil business.
The $50m-100m private sector African Enterprise Challenge Fund (AECF) has launched its Renewable Energy and Adaptation to Climate Technologies (React) programme, offering grants and interest-free loans of around $250,000-1.5m for local and international investments in East African Community (EAC) countries.
The new president’s appointment of Mohamed Lamine Fofana as mines minister keeps a familiar face in charge of a key sector that provides 80% of Guinea’s foreign currency earnings
Benin national Christian Narcisse Adovèlandé will be the new head of the Lomé, Togo-based Banque Ouest Africaine de Développement (BOAD – West African Development Bank), replacing former World Bank vice president Abdoulaye Bio Tchané, who is running for president in Benin’s upcoming elections.
Tunisia’s Jasmine revolution, which drove Zine El Abidine Ben Ali into exile in Saudi Arabia on 13 January, was the unexpected trigger that has made Arab populations wake up after decades of submission to personalised, autocratic regimes. But it is events in Egypt that will drive how the ‘Arab street’ and those who seek
While the government quietly accelerates reforms to counter pressures that have exploded in Tunisia and Egypt, the state energy giant is preparing new management structures that should speed implementation of major projects
Although the exact number of casualties has not been independently confirmed, sources in Abyei said more than 20 people had been killed in fighting between the Dinka and Misseriya. The south claims the Khartoum government instigated the fighting to put pressure on negotiations and undermine the secession referendum process, which will deliver a massive majority in favour of secession.
Simba Energy private offering; Cote d’Ivoire’s Eurobond default; UK anti-bribery act postponed
Results for 2010, unveiled by Sonatrach president director-general Nordine Cherouati on 25 January, show the Algerian state company benefiting from higher prices:
The Government of Southern Sudan will not compromise in negotiations with the north over the status of Abyei, and is prepared to take up arms again if the impasse continues
