NAMIBIA has become a focal point for oil exploration following several significant discoveries along its coastline in recent years. While the country has not yet commenced oil or gas production, major oil companies, including TotalEnergies and Shell, have uncovered reserves estimated at 2.6 billion barrels, with production anticipated to begin around 2030. …
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THE African Export-Import Bank (Afreximbank) has signed an indicative term sheet with APD-Cameroon for the development and operation of a new port terminal in Douala, Cameroon, estimated to cost EUR210 million. According to the agreement, the financing will be divided into two tranches in Euro and Central African Francs (XAF), …
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GHANA has reached a preliminary agreement with its bondholders to restructure $13bn in international debt, according to three sources who spoke to Reuters. This follows a recently finalised deal with official creditors. Key agreement details: Bondholders will face a principal haircut of up to 37 percent. Bond maturities will be extended. …
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BURKINA Faso’s military leader, Ibrahim Traore, appeared on national television on Thursday to refute claims of a mutiny within the army. This follows a recent al Qaeda-linked insurgent attack that resulted in the deaths of over 100 soldiers near the Niger border. Response to the attack Traore, commenting for the …
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THE IMF announced on Thursday that its executive board has approved a funding package for Tanzania amounting to $786.2 million to aid in addressing climate change. Additionally, a separate review has been completed, allowing for the disbursement of $149.4 million for budget support. Commitment to economic reforms The IMF stated …
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THE Director-General, Voice of Nigeria (VON), Malam Jibrin Baba-Ndace, has said that VON would partner with Defence and Police Officers’ Wife Association (DEPOWA) to project its positive and humanitarian activities to the world. The VON boss stated this during a courtesy visit to the National President of DEPOWA, Mrs Oghogho …
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THE Gombe Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned one Usman Mallam for allegedly tearing the agency’s official investigation activities’ letters and obstructing investigation before the Federal High Court sitting in Gombe, Gombe State. Mallam, a desk officer in charge of responding to official correspondence …
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THE Federal Government has criticized Reynolds Construction Company (RCC) for failing to complete even 1km of the 15km East-West Road section from Eleme Junction to Onne Port Junction in Rivers State, despite receiving over N40 billion in mobilization funds. This announcement was made by the Federal Minister of Works, David …
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WEST African Examination Council (WAEC) in Nigeria says it would gradually eliminate the use of papers in the conduct of its examinations. Dr Amos Dangut, Head of National Office, disclosed this on Thursday after monitoring the conduct of the ongoing West African Senior Secondary School Certificate Examination (WASSCE) in Abeokuta. …
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The United Nations praises the UAE’s $70 million support for humanitarian efforts in Sudan. THE United Arab Emirates, one of the leading contributors of humanitarian assistance to Sudan and Africa, has allocated 70% of the USD 100 million it pledged in April at the “International Humanitarian Conference for Sudan …
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