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African Development Bank has approved over R4.4 billion to support Morocco and Côte d’Ivoire’s renewable energy projects. These projects are expected to boost power supply and contribute towards the economic growth of their countries. In a statement by AfDB, more than 600 million people in the African continent do not have access to electricity which has […]
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Algeria, a North African country, needs to exploit its shale gas resources to balance a rise in local energy consumption that is affecting vital exports, but time and far-reaching reforms at the state energy firm will be required to develop the industry. The North African country is a key gas supplier to Europe, but exports […]
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In a move seen as an exit strategy out of its African business and a consolidation for Airtel, Regional telco Tigo has sold its Rwandan business to Airtel, which is its third of such sale this year. Bharti has announced that it had entered into a consensus with Millicom International, which is the parent firm […]
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A proposal has been submitted to the Zimbabwean government by Fly Modern Ark in which the South African start-up would provide Air Zimbabwe with Xian Aircraft Company turboprop equipment in return for a 25% stake in the state-owned airline. Air Zimbabwe is an existing MA-60 operator with three acquired from China during the last decade. […]
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FIN Magazine is wishing you all the joys of the season and happiness throughout the coming year. Our awesome team would like to take this opportunity to thank you for your continued business, readership and support during the past year. We appreciate you following us and hope that the holidays and the coming year will bring […]
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Ethiopian’s chief executive has disclosed that Ethiopian airlines has ended negotiations with the Nigerian government to manage the biggest private Nigerian airline, Arik Air. Through the Asset Management Corporation of Nigeria (AMCON), the government of Nigeria has taken control of Arik Air after the airline failed to pay its employees and creditors for months and […]
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The narrowing of Africa’s power deficit has been contributed to by China. The deficit is a perennial problem that still leaves two thirds of the population in sub-Saharan Africa without access to reliable electricity supply. Chinese firms have successfully built or are in the process of building many hydro-power plants across the continent in 2017. […]
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After the bidding process that would eventually provide a fresh investor for 9Mobile, formerly Etisalat, Nigeria’s $70 billion telecommunications industry is ready to behold a major acquisition on or before December 31. The sale of 9mobile was after regulators saved the company from collapse when both an investment fund and Etisalat exited the country in […]
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Mauritania’s oil, energy and mines director, Moustapha Bechir, has stated that Exxon Mobil is near to signing a deal to explore for oil and gas offshore Mauritania, its first foray into the West African country. Declining to comment on the deal, an Exxon Mobil spokeswoman said the Texas-based company does not yet have drilling activities […]
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A new record of 5,222.3 Megawatts (MW) of electricity generation into the national grid has been recorded on December 18. This was disclosed by the Transmission Company of Nigeria, TCN, on Sunday. In a statement by the General Manager, Public Affairs, Transmission Company of Nigeria, Ndidi Mbah, in Abuja stated that the achievement was the […]
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