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IFC pledges US$600m for a East Africa regional oil pipeline

      The International Finance Corporation (IFC), a lending arm of the World Bank, has pledged US$ 600m to fund an oil pipeline in East Africa. The funding is part of a US$1.8bn loan for projects in the Horn of Africa.   The oil pipeline is expected to link up upstream operations in Kenya, Uganda and South Sudan. A statement by the bank indicates that the investments will aid expansion of agribusiness, processing and seeds.   The whole project has been.... Read more »

Posted on : Friday , 31st October 2014

Private equity firm Catalyst buys stake in Mimosa Pharmacy

Private equity firm Catalyst Principal Partners has bought a stake in Mimosa Pharmacy, a retail drugs store chain, in the first local investment by the investor. Catalyst said it made the investment jointly with Africa Chemist and Beauty Care (ACBC), a Mauritius-based pharmaceutical chain. The deal amount was not disclosed but a typical investment ranges between $5 million (Sh444 million) and $20 million (Sh1.78 billion). The private equity firm, however, said the stake is a mix of.... Read more »

Posted on : Friday , 31st October 2014

South Africa's Imperial to take $58 mln stake in Dutch medical wholesaler

South Africa’s Imperial Holdings will buy 70 per cent of Imres BV, a Dutch wholesaler of medical supplies, for 46 million euros. This is to expand its pharmaceutical distribution in Africa, the transport company said on Thursday. Imperial is looking to expand its distribution business for consumer goods and medical products in fast-growing Africa. Although based in the Netherlands, Imres mainly targets Africa’s developing healthcare markets, Imperial said in a.... Read more »

Posted on : Friday , 31st October 2014

Cipla Medpro inks marketing pact with Teva for South Africa

The collaboration is a sales and distribution arrangement whereby Cipla Medpro will exclusively market Teva's broad pharmaceutical product portfolio in South Africa Cipla Medpro (a part of Cipla Ltd located in South Africa), through its subsidiary company Medpro Pharmaceutica (Pty) Ltd, has entered into a collaboration with Teva Pharmaceuticals (Pty) Ltd, an affiliate of Teva Pharmaceutical Industries Ltd (Teva) - the largest generic.... Read more »

Posted on : Friday , 31st October 2014

Liberia: Cica Motors Donates U.S.$97 K Vehicles to Red Cross

 Premium dealer in Toyota automobiles in Liberia has donated a Toyota Land cruiser ambulance valued at US$55,000 and a HINO truck valued at US$42,000 to the Liberia National Red Cross Society. Speaking at a the donation ceremony held at the company's office on the Bushrod Island, the company's managing director Marc Boisgarnier, said Red Cross has been a very good partner and customer to their business. He said the Red Cross has been on the frontline, fighting the deadly Ebola.... Read more »

Posted on : Friday , 31st October 2014

Tanzania Mulls Investing in Geothermal Power

 TANZANIA is looking into investing heavily in renewable energy, especially geothermal power on that the rock originated heat energy happens to be both cost-effective and greener for the environment.   Speaking in Arusha, Assistant Commissioner for Renewable Energy in the Ministry of Energy and Minerals, Mr Edward Ishengoma, revealed during the official opening of a two-day geothermal training that renewable energy was currently the last resort in the wake of ravages from.... Read more »

Posted on : Wednesday , 29th October 2014

VAALCO and Sonangol Enter Subsequent Exploration Phase

      In Angola VAALCO Energy entered into the Subsequent Exploration Phase (SEP) on Block 5 together with its working interest partner, Sonangol P&P. The SEP extends the exploration license for an additional three-year period such that the new expiry date for exploration activities is November 30, 2017. Under the terms of the SEP, VAALCO and Sonangol are required to acquire a 3D seismic program covering 600 sq km and to drill two additional exploration wells..... Read more »

Posted on : Wednesday , 29th October 2014

Central African Republic: Dubai-Based Company to Supply Petroleum Products to CAR

The Dubai-based Tristar liquid logistics company in the United Arabs Emirates will supply petroleum products to the conflict-ridden Central African Republic within the framework of its humanitarian missions. The intervention of the United Arabs Emirates company will be thanks to a partnership agreement it signed with the Central African Republic affiliate of the Cameroon petroleum products distribution company Tradex on September 26 in Douala. The information is contained in a.... Read more »

Posted on : Wednesday , 29th October 2014

Cap Energy plans 3D survey off Guinea-Bissau Cap Energy plans 3D survey off Guinea-Bissau Cap Energy has informed that it is working to

      Cap Energy has informed that it is working to progress its interests offshore Guinea-Bissau, West Africa, by conducting a 3D survey scheduled for November, 2014.    Sitting in the same basin as the Company’s Senegal assets, the prospective leads are distributed across a carbonate shelf that passes abruptly to deeper water to the west.   As the deepwater geology of Cap’s Block 5B is analogous to that of the FAN-1 location in.... Read more »

Posted on : Wednesday , 29th October 2014

Tanzania: Life Changes for the Better As Msolwa Village Gets Electricity

    To realise these targets, the country requires adequate, reliable, affordable and environmentally friendly electricity supply.   According to REA Director General, Eng Lutengano Mwakahesya, the rural residents get connected by paying 27,000/- only and that the low cost is aimed at encouraging more people to access the power service and that the income is injected into Rural Energy Fund (REF).   Minimising the costs of the electrical networks is vital to.... Read more »

Posted on : Wednesday , 29th October 2014

Liberia: NP Launches Filling Station in Buchanan

 National Petroleum (NP), a 100% privately own Sierra Leonean firm, has opened one of its station in Buchanan, Grand Bassa County. The opening ceremony took place on Tuesday, October 28 where the Managing Director, Mr. Mohammed S. Kanu, assured the people of Grand Bassa that his company is there to stay. The Buchanan filling station is NP's 6th station in the country and the first outside the capital, Monrovia.   "NP is here to stay and it is a privilege for Grand.... Read more »

Posted on : Wednesday , 29th October 2014

GHANA TO INCREASE LOCAL GAS PRODUCTION

    President of Ghana, Mr. John Mahama, while responding to questions on the economy at the Global African Investment Summit in London, said the country is working hard to court more private investors to shore up local production of gas to solve the country’s power crisis.   He said this will end the country’s over-reliance on the West African gas pipeline which has been inconsistent with supplying gas to the country.   He said, “We had a.... Read more »

Posted on : Wednesday , 29th October 2014



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