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Thu,23Nov2017

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Mozambique's finance minister, Adriano Maleiane sacked by President Nyusi

No reason has been given for the dismissal of Mozambique's Minister of Economy and Finance Adriano Afonso Maleiane. Photo©Sait Serkan Gurbuz/AP/SIPAMozambique President Filipe Nyusi on Thursday fired Finance Minister Adriano Maleiane, who has been embroiled in more than two weeks of negotiations with Russia's VTB Bank over a late $178 million loan repayment.

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Energy: Russia to lend Egypt $25 billion to build nuclear power plant

Photo©ReutersRussia will loan Egypt $25 billion to finance building and operating a nuclear power plant in Egypt, the official gazette said on Thursday.

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Fearmongers in the frame

A menacingly authoritarian triumvirate think that it's their turn. Canny, malign and experts in the politics of fear, the US's Donald Trump, France's Marine Le Pen and Russia's Vladimir Putin believe history is on their side.

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Finance: IMF says additional $1 bn in Mozambique debt uncovered

Mozambique's government has borrowed $1 billion more than it previously disclosed, the International Monetary Fund said on Friday, adding that the discovery diminished its view of the African nation's economic outlook.

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Oil & Gas: Libya joins Iran in snubbing oil freeze

Photo©ReutersLibya does not plan to attend an April 17 meeting of oil producers about freezing supply to support prices, a Libyan OPEC delegate said on Tuesday, joining fellow OPEC member Iran in snubbing the initiative.

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Oil & Gas: Algeria's Sonatrach to invest $3.2 bn in pipelines

File photo©Peter Komka/AP/SIPAAlgerian energy company Sonatrach will invest $3.2 billion over four years to increase pipeline capacity as natural gas output rises from new and existing fields, a top company official said on Tuesday.

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Islamic State's caliphate: Afghan invasion was critical

Madawi Al-Rasheed - Saudi Arabian scholar and granddaughter of Mohammed bin Talal al-Rasheed, the last prince of the Arabian Emirate of Ha’ilThe creation of the global jihadi movement, to counter the Soviet Union's influence during the cold war, lacked an exit strategy, says Madawi Al-Rasheed, Saudi Arabian scholar and granddaughter of Mohammed bin Talal al-Rasheed - the last prince of the Arabian Emirate of Ha'il. She explains the effect this had on Saudi Arabia after the cold war and why Da'esh (Islamic State - IS) decided to announce a caliphate.

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Zimbabwe eyes $1 billion investment

Zimbabwe is eyeing $1 billion in foreign direct investment this year despite concerns about its unclear empowerment policies and continued isolation by the international community.

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South Africa: Finance minister promises transparent nuclear procurement

South Africa's Finance Minister, Nhlanhla Nene. Photo©ReutersSouth African Finance Minister Nhlanhla Nene pledged on Tuesday that the country's nuclear programme, its most expensive procurement deal, will be transparent.

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Banking: BRICS bank, NDB launches in Shanghai

Also known as the BRICS bank, the New Development Bank (NDB), launched on Tuesday, follows soon after the establishment of the China-led Asian Investment Infrastructure Bank (AIIB).

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BRICS Summit: South Africa should set tone for FfD Conference in Addis Ababa

With BRICS Summit just days before the Financing for Development Conference, emerging country leaders have a unique opportunity.

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Oil and Gas: Oil prices on the rise

Photo©ReutersCrude oil prices rose on Tuesday due to firm demand after dipping in earlier trade on expectations that OPEC would not cut output at its meeting this week.

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Uganda: From Russia with refining capacity

Uganda's oil sector has been slow to lift off, but plans for a Russian-built refinery are crystallising and talks on other essential infrastructure could soon make progress.

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Oil and Gas: Big Winners and Sore Losers

Delays, restructuring and stalling are expected as oil producers cut back. Photo©Kevin M. Law/ALL Canada Photos/CorbisExporting countries and producers large and small are reeling from the impact of the oil price's vertiginous drop over the past six months. The Africa Report looks at who is benefiting from the turmoil and who will be hurt the most.

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Tourism: Cairo waits for the big spenders

Photo©Dana Smillie/Polaris/StarfaceEgypt's government says the tourists are back, but down on the street, in the souks and resorts The Africa Report heard a different story. If fewer Chinese-made pharoah heads are being sold, however, new tourism opportunities are opening up.

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Energy: Nigeria and Russia in nuclear plant talks

Photo©ReutersAs it seeks solutions to deal with decades of blackouts that has blighted its economy, Nigeria has entered talks with Russia's state-owned Rosatom to build nuclear power plants.

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Exports: Hit by crisis, sanctions over Ukraine conflict, Russian industrial giant turns to Africa

A Russian serviceman aboard a tank salutes during the Victory Day parade in Moscow's Red Square May 9, 2014. Photo©Reuters/SERGEI KARPUKHINRussia is pursuing costly state oil and platinum projects in Africa despite an economic crisis at home, hoping they will bolster sales, including of arms, for businesses hit by Western sanctions over the conflict in Ukraine.

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Oil and Gas: Uganda offers six petroleum blocks in first competitive licensing round

File photo©ReutersUganda is offering six petroleum blocks in its first competitive licensing round for oil exploration in the Albertine Graben area, a region where oil has already been discovered, the Energy and Mineral Development Ministry said on Tuesday.

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East African boom on its way

Photo©Billy K. Mutai/Nation Media GroupThe International Energy Agency predicts that by 2040 sub-Saharan Africa will be producing more natural gas than Russia, with much of it coming from Tanzania and Mozambique.

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Egypt moots gas imports from Israel

Sherif Ismail, Egypt's Oil Minister says gas imports from Israel were a possibility. Photo©ReutersIn a bid to tackle its energy troubles, Egypt's Oil Minister on Wednesday told a state-owned media that the North African country is open to importing gas from Israel, another sign that it may lean on its neighbour to help.

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