Gabon: Latest News
Ann Brown, 1:00 pm
From The Miami Herald Harvest Natural Resources Inc. is in exclusive talks to sell its stake in Gabon for $137 million. The Houston-based energy company said that its subsidiary, HNR Global Holding BV, is in negotiations with Vitol SA regarding its approximately 66.7 percent interest in the Dussafu Marine Permit PSC. Gabon is on the […]
Makula Dunbar, 12:41 pm
Between 2014 and 2016, 27 countries have agreed and announced that they will continue to support Africa’s economic development through a collective $7.3 billion contribution to the African Development Fund (ADF). Business Ghana reported that four of the 27 countries (Angola, South Africa, Libya and Egypt) are African nations — all contributors would like to see funds appropriated to areas within the continent that desperately need infrastructural, energy, agricultural and education boosts, among others.
Isaac Mwangi, 11:24 am
Every morning, Mary Wanjiru wakes up early and heads to her place of work at a garment factory in Nairobi. This has been her daily routine for the past nine years, having learned embroidery and garment making at a local technical training college. Wanjiru is one among thousands of workers who got a lifeline after the U.S. government entered into a partnership with sub-Saharan African nations through the Africa Growth and Opportunity Act (AGOA). But now, their future in the textile industry is no longer assured.
Makula Dunbar, 5:33 pm
The International Finance Corporation (IFC), the largest global development institution, said on Tuesday it had invested more than $63m in a housing solutions fund for the support and development of affordable housing in South Africa and sub-Saharan Africa. The International Housing Solutions (IHS) Fund II aims to address the need for housing across the continent and the lack of affordable housing.
Dana Sanchez, 4:20 pm
Forty-seven sub-Saharan African countries have agreed on frequency coordination for digital switchover in 2015. Africa will be the first region globally to be in a position – by 2015 – to allocate so-called digital dividend spectrum to mobile services in both the 700MHz and 800MHz bands.
Ann Brown, 11:00 am
From Bloomberg Maurel & Prom SA (MAU) reported a 29 percent jump in first-half operating profit due to higher output in Gabon, where the French explorer is planning new wells to raise production by year-end. Operating income climbed to 111 million euros ($147 million) compared with 86 million euros a year earlier, the Paris-based company […]
Ann Brown, 9:36 am
There is a long history of seaborne piracy in Africa’s waterways, particularly between the Red Sea and Indian Ocean off the Somali coast. But piracy affects all of Africa, and it’s expanding.
In some areas, a do-it-yourself attitude to maritime security has bolstered the boat-building industry.
Dana Sanchez, 3:02 pm
There are an estimated 23 million barrels of oil in the Etame block. The field is owned by a consortium led by Houston-based Vaalco Energy.
Nanci Theoret, 12:04 pm AFKI Original
“We’re shipping good-old American products to Africa,” says Tim Truax, a production manager in Venice, Fla. “A lot of American companies pulled out of Africa, including Sherwin-Williams. We’re using their paint and will bring them back into Africa.”
Makula Dunbar, 6:04 pm
According to How We Made it in Africa, multinational companies including French retailer Carrefour and Singapore-based agribusiness Olam, have stepped into Gabon’s business arena. Now the country, through special incentives, is encouraging more investors to set up shop, create jobs and help stimulate the economy.
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