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Nigeria seek to raise crude oil revenue

Nigeria is seeking to amend a law on deep offshore oil exploration and drilling, aiming to increase government revenue from crude sales when prices exceed $20 a barrel, the country’s oil minister said on Wednesday. Nigeria’s government relies on oil for around two-thirds of its revenue and Africa’s largest economy is still largely dependent on […]

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African markets main factors Dec 12, 2017

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – GLOBAL MARKETS Asian shares took a breather on Tuesday after three straight sessions of gains, with markets consolidating in the hope an upswing in global growth could outlast a […]

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SEC braces up to audit OANDO

Nigeria’s Securities and Exchange Commission (SEC) plans to go ahead with a forensic audit of oil company Oando Plc, it said in a statement late on Tuesday, despite the suspension of the commission’s director. The finance minister suspended SEC Director General Mounir Gwarzo last week over allegations of financial impropriety, a month after Gwarzo started […]

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OPEC oil output for November lowest since March 2017

    <link href=”https://af.reuters.com/article/algeriaNews/idAFL8N1O4345″ rel=”canonical” /> OPEC oil output fell in November by 300,000 barrels per day (bpd) to its lowest since May, a Reuters survey found, pressured by a drop in Angolan and Iraqi exports, strong compliance with a supply cut deal and involunary declines. OPEC’s adherence to pledged supply curbs rose to 112 […]

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OPEC postpones oil cut to end 2018

OPEC and non-OPEC oil producers look poised to agree on Thursday to extend output cuts until the end of 2018 to finish clearing a global glut of crude while signalling they could exit the deal earlier if the market overheats. Non-OPEC Russia, which this year reduced production significantly with OPEC for the first time, has […]

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African markets factors Nov. 30, 2017

NAIROBI, Nov 30 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – * Uganda releases inflation GLOBAL MARKETS Asian shares fell on Thursday, weighed down by a plunge in high-flying technology shares, a move that some […]

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Dangote and economic development industrial projects

The Dangote Group of Nigeria, one of the pre-eminent industrial conglomerates in Africa, in pursuit of its pan-African development and emancipation strategy, on November 23, 2017 formally launched its newest economic development industrial project, the Dangote Cement plant in Mfila, in Congo-Brazzaville. With this $300 million dollars, 1.5 million metric tonne per annum plant, the […]

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EIB, Afreximbank agree to 100m Euros expenditure

  The European Investment Bank (EIB) has signed its first, landmark agreement with the African Export Import Bank (Afreximbank). The agreement involves a finance facility for EUR 100m from the EIB. The seven-year loan will finance trade-related investments and projects in Sub-Saharan Africa. It will support African promoters carrying out small and medium-sized long-term investments […]

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NNPC secures $3.7bn financing in 3 years

The Nigerian National Petroleum Corporation has secured a total of $3.7bn in Alternative Financing Agreement in the last three years, Group Managing Director of the Corporation, Dr. Maikanti Baru has said. Dr. Baru, who made this known while speaking at the 35th Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos on […]

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Land-linked countries to maximize benefits of business in Africa

src=”https://africabusinesscommunities.com/land%20linked%20countries%20Africa.jpg” alt=”shared by www.medianet.info” /> Experts in port management, policy makers and financiers from across Africa are exploring how to reshape policy and harness the benefits that accrue from maximizing the comparative advantages of land linked countries. Organized by the Port Management Association of Eastern and Southern Africa (PMAESA), the meeting targets land linked countries […]

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Market factors for Nov. 23, 2017

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – GLOBAL MARKETS The dollar was on the defensive Thursday after suffering its worst drubbing in five months while bonds celebrated a comeback on speculation the Federal Reserve might not […]

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African market factors to watch Nov. 21, 2017

<link href=”https://af.reuters.com/article/commoditiesNews/idAFL8N1NR0F6″ rel=”canonical” /> NAIROBI, Nov 21 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – EVENTS: *NIGERIA – Central bank holds monetary policy meeting – 1330 GMT. *SOUTH AFRICA – Reserve Bank starts three-day monetary […]

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Africa: Crazy idea leads to ability durum

  A ‘crazy idea’ has resulted in the ability to grow durum wheat in the extreme heat of famine-affected Senegal, Mauritania and Mali, potentially boosting the income for one million farming families, and therefore winning the 2017 Olam Prize for Innovation in Food Security. The genome fingerprinting research project led by Dr Filippo Bassi of […]

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