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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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Africa economic conference 2018 opens in Kigali

The Africa Economic Conference opened in the Rwandan capital Kigali on Monday under the theme: “Regional and Continental Integration for Africa’s development.” The meeting aims at placing visa openness and infrastructure development at the center of Africa’s regional integration efforts. The annual Africa Economic Conference is the continent’s leading forum fostering dialogue and knowledge exchange […]

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Rwanda’s economy to grow by 7.2% in 2018 – IMF

Rwanda’s economy is expected to grow by 7.2 percent this year the International Monetary Fund (IMF) said. According to the Washington-based lender, growth averaged 8.6 percent in the first half of 2018 and, despite a temporary deceleration in the second quarter, it remains in line with projections for 7.2 percent for the year. The projected […]

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Africa’s visa openness improves; challenges persist – Report

The Republic of Benin and Seychelles have ended this year in the top spot of the Africa Visa Openness Index Report 2018.  According to the report, Benin introduced a visa-free policy for all nationals of African countries, joining Seychelles in the category of most visa open nations on the continent.  The Visa Openness Index assesses […]

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MTN Rwanda inks deal for $56.20 million loan

MTN Group Ltd.’s Rwanda unit has signed a$56.20 million (50 billion francs) loan with eight local banks. MTN Rwanda, which had close to 4.5 million subscribers in September, said the loan is earmarked for a capital expenditure program for the next two years targeting expansion and modernization of the network and related IT systems. Diatile […]

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Are Algerian airlines planes taking off without maintenance checks?

In just 24 hours, two Air Algérie aircraft were forced to turn back following technical incidents. The situation illustrates the fears expressed by striking maintenance technicians who have announced that the company’s airplanes take off without prior checks. Head of the Union of maintenance staff at the Algerian airlines, Air Algérie, warned a few days […]

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Morocco: Uplift, expansion of railway infrastructures

Morocco, which has inaugurated last Thursday Al Boraq TGV, the first in Africa, has embarked on large-scale programs to develop its transport infrastructures and other related projects meant to support the development of the railway sector, improve comfort aboard trains, ensure a smooth flow of traffic and reduce travel time. In this connection, King Mohammed […]

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Morocco’s King urges Competition Council to remain true to “neutrality, transparency, independence”

King Mohammed VI of Morocco has urged the members of the Competition Council and its new President Driss Guerraoui to remain true to the “neutrality, transparency, and independence” in their assessment of the country’s economic institutions. The remarks were made by King Mohammed VI Saturday just after he appointed Driss Guerraoui as new president of […]

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