Egypt repays $2.1bn debt to foreign energy firms

02 January 2015, Cairo — Egypt has paid a new installment worth of $2.1 billion of the sum of money it owes foreign energy firms, bringing its total accumulated debt down to $3.1 billion, Petroleum Minister Sherif Ismail has revealed. Ismail added in a statement that Egypt also repaid $200 million of the Petroleum Authority’s […] More »

Angolan govt to acquire new thermal power station

02 January 2015, Luena — The governor of the eastern Moxico province, João Ernesto dos Santos “Liberdade” announced on Monday in Luau town the intention of his government in acquiring a new thermal station, aiming for the improvement of the power supply in Luena city. Speaking to the press so as to assess the year […] More »

Ghana to boost power generation

02 January 2015 - The Volta River Authority VRA has said that it will be able to receive and utilize the full volume of gas produced from the Jubilee Field when Tico thermal plants in Takoradi become operational by close of the year. Daily Independent gathered that the operation of Tico , which is also […] More »

Gombe spends N558.7m on rural electrification

01 January 2015, Abuja - Gombe State Government has said it had spent N558.6 million on the electrification of rural communities in Gombe, Billiri and Yamaltu/Deba Local Government Areas. The Commissioner for Rural Development and Cooperatives, Mr Hassan Ahmadu, told journalists in Gombe that the electricity in the affected communities was upgraded from 3KV to […] More »

Banking transactions grind to a halt in Banjul

01 January 2015, Kanifing Municipality — The operation of banks and other financial businesses in the Gambia were ground to halt following shootings at state house in Banjul in the wee hours of Tuesday, 30th December, 2014. Visiting the business areas were the financial institutions are situated in the Kanifing Municipality, this reporter observed that […] More »

Jonathan vows to stabilise Naira

01 January 2015, Sweetcrude, Abuja - President Goodluck Jonathan on Thursday reassured that his administration would ensure stability in the value of the Naira by striving to take away speculative behaviours that caused market exchange pressures. Jonathan, who gave the assurance in a nationwide New Year broadcast in Abuja, said government would continue to promote […] More »

CBN defends naira with $5.3bn

01 January 2015, Lagos - The Central Bank of Nigeria sold $5.3 billion to defend the naira in October even as foreign exchange inflow into the economy fell by 5.4 per cent during the month. Disclosing this in its economic report for October, the CBN said that the decline in foreign exchange inflow was driven […] More »