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South Africa launches continent’s most advanced nanosatellite

South Africa has successfully launched into space the continent’s most advanced nanosatellite to date – the ZACube-2. The ZACube-2 will provide cutting edge remote sensing and communication services to South Africa and the region. “This satellite will help us monitor our ocean traffic as part of our oceans economy and also monitor veld fires and […]

Guinea-Bissau needs ‘genuinely free and fair elections’ to break cycle of instability

Unless political actors in Guinea-Bissau demonstrate renewed good faith to hold “genuinely free and fair elections,” the country is set to face a continuous cycle of instability, the United Nations Security Council warned on Thursday. In a statement, the 15-member Security Council expressed “regret” that the country did not hold elections as planned on 18 […]

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Chinese company to invest $147 mln in copper project in DRC

China’s Zhejiang Huayou Cobalt Co will invest $147.2 million to build a copper project in Democratic Republic of Congo (DRC), the company said on Tuesday. Democratic Republic of Congo is Africa’s top copper producer and the world’s leading miner of cobalt, a mineral which has seen a surge in demand due to the manufacture of […]

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Intra-African Trade Fair records $32.6 billion in concluded deals

The inaugural Intra-African Trade Fair (IATF), held recently in Cairo, was marked by the signing of deals valued at $32.6 billion, according to preliminary figures released by the African Export-Import Bank (Afreximbank). Afreximbank, which organized the trade fair in collaboration with the African Union, said that the amount represented the value of 100 deals concluded […]

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Angola joins forum of gas exporting countries

Angola has been admitted as an observer member of the Forum of Gas Exporting Countries (GECF), during the group’s 20th ministerial meeting held in Port of Spain, Trinidad and Tobago. The African Chamber of Energy (AEC) praised Angola’s accession to GECF as it is at the forefront of promoting the use of natural gas as […]

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Mauritania awards Total two oil exploration and production contracts

Integrated oil and gas company Total and the Ministry of Petroleum, Energy and Mines of Mauritania have signed an agreement awarding Total two new exploration and production contracts for Blocks C15 and C31 deep offshore Mauritania, covering an area of 14,175 square kilometers. According to the terms of the contracts, Total will be the operator […]

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African carriers to report net loss of $300m in 2019

African airlines are expected to report a net loss of $300 million in 2019, the International Air Transport Association (IATA) said. The expected net loss per passenger is $3.51 making Africa the weakest region globally. Globally, it is expected that 2019 will be the tenth year of profit and the fifth consecutive year where airlines […]

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Italian Eni announces new oil discovery in Angola

Eni has struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola. The discovery is estimated to contain between 170 and 200 million barrels of light oil in place. The Afoxé-1 NFW well, which has led to the new oil discovery, was drilled in a water depth of 780 […]

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Egypt pledges to promote intra-African trade as he takes AU chair

Egypt’s president, AbdelFattah al-Sisi on Monday unveiled plans to promote intra-African trade when he takes over as chair of the African Union next year. Egypt has hosted a high-level business forum on Saturday and Sunday with a focus on exchanges between countries on the continent. President Sisi in a speech during the forum encouraged investors […]

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US-China rivalry in Africa set to sharpen in 2019, Control Risks says

Early signs suggest that the US-China rivalry will find its way to the African continent in 2019. While the US is multiplying warnings about the perils of Chinese debt-fueled spending for economic stability, China will continue to broaden its engagement across the continent, with particular focus on East Africa. This is one of the key […]

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