Monday 18 December 2017
(Reuters (Eng) 11/30/17)
TUNIS (Reuters) - The head of an eastern, parallel branch of Libya’s central bank said he may order more banknotes from Russia, in an effort to ease liquidity problems before a currency devaluation he hopes to work out with the country’s internationally recognized government. The governor of the eastern bank, Ali al-Hibri is aligned with a rival government based in eastern Libya. He has little leverage, since the recognized central bank in Tripoli has continued to control oil revenues and disburse funds across the country, with international backing. But four of six board members of the Tripoli-based Central Bank of Libya are aligned with the eastern-based factions that tried to set up parallel financial institutions...
(Reuters (Eng) 11/29/17)
VIENNA (Reuters) - OPEC will debate this week whether to cap oil output from Nigeria and Libya, which have so far been excluded from supply curbs due to falling production amid unrest, two sources with knowledge of the matter said on Wednesday. The 14-member Organization of the Petroleum Exporting Countries meets on Thursday to decide whether to extend production cuts until the end of 2018. The sources said the idea was to cap Nigerian output at 1.8 million barrels per day and Libyan at 1 million bpd.
(Xinhuanet 11/17/17)
Sino-African relations have entered a new development stage of win-win cooperation, according to the fifth Biennial Conference of China-Africa Industrial Forum (CAIF) that opened here Thursday. Supporting Africa's industrialization and capacity cooperation are of vital importance in the next five years and Sino-African trade is likely to total 180 billion U.S. dollars in 2017, said CAIF secretary general Cheng Zhigang in the opening speech. Sino-African economic and trade cooperation has great potential, said Cheng. China has been Africa's largest trading...
(Reuters (Eng) 11/14/17)
KIGALI (Reuters) - The global airline industry has $1.2 billion blocked in nine dollar-strapped African countries, the International Air Transport Association (IATA) said on Monday. The global commodities price crash that began in 2014 hit economies across Africa hard, particularly big resource exporters such as Angola and Nigeria. Low oil and mineral prices have reduced government revenue and caused chronic dollar shortages and immense pressure on local currencies. The fiscal slump has meant governments have not allowed foreign airlines to...
(AFP (eng) 10/18/17)
Rent-a-room giant Airbnb said Tuesday that it had provided accommodation for 1.2 million visitors to Africa over the last year -- double the previous year as tourism expands across the continent. The website now offers more than 100,000 accommodation options in Africa, global public affairs director Chris Lehane said on a visit to Johannesburg. "It's an incredibly rich and diverse continent, an incredibly dynamic place, certainly a big part of our future," Lehane told AFP. Airbnb was founded in 2008...
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria...
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(Reuters (Eng) 10/04/17)
TRIPOLI/LONDON (Reuters) - Production at Libya’s giant Sharara oilfield resumed on Wednesday after an armed brigade forced a two-day shutdown, the National Oil Corporation (NOC) said. Operations at Sharara, which is crucial to a partial revival of Libya’s oil output, have been repeatedly disrupted this year due to blockades by armed groups, protests and security problems. As production resumed, the NOC lifted force majeure on loadings of Sharara crude from Zawiya port, where the tanker Seaways Hatteras was due to...
(Reuters (Eng) 10/03/17)
TRIPOLI (Reuters) - An armed group forced Libya’s giant Sharara oilfield to close late on Sunday, shutting off production of more than 230,000 barrels per day (bpd), the head of the state oil company said. Libya’s National Oil Corporation (NOC) declared force majeure on deliveries of Sharara crude, citing “unrest”, according to a letter seen by Reuters. NOC Chairman Mustafa Sanalla promised that production would restart by Monday evening. Sanalla told reporters that the armed group, Brigade 30, were demanding...
(Reuters (Eng) 10/02/17)
BENGHAZI, Libya (Reuters) - Benghazi’s commercial port officially reopened on Sunday after a three-year closure due to fighting between rival factions in the east Libyan city. To mark the opening Abdullah al-Thinni, prime minister of a government based in the east, arrived on board a tanker sent from the eastern city of Tobruk. The port does not export oil, but imports gas and some petroleum products as well as general cargo, and local costs for these would be reduced by...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...
(Bloomberg 09/28/17)
Libya’s oil output is rising again after disruptions ended at its biggest field, with production reaching about 950,000 barrels a day even as OPEC and allied suppliers step up efforts to contain a global glut. Output at the North African nation’s Sharara field has recovered to 230,000 barrels a day, according to a person familiar with the matter, who asked not to be identified because they aren’t allowed to speak to the media. Libya was pumping 1.05 million barrels a...
(Xinhuanet 09/28/17)
Libya's state-owned General Electricity Company on Wednesday signed a 370-million-USD contract with Greece's METKA to build a power plant in the eastern Libyan city Tobruk. The Libyan General Electricity Company said that the power plant would consist of four units, producing a total output of about 740MW. The company confirmed that the project will take 15 months to complete, and that the first generating unit will start functioning in September 2018. The signing of the contract was attended by the...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Middle East Monitor 09/26/17)
Moroccan yesterday hosted a two-day workshop to discuss the establishment of a joint electricity network for North African countries including representatives from the Maghreb region and Egypt. Economic Affairs Officer at the Arab Maghreb Union (AMU) Reda El Merini said: “The meeting aims to determine the current status of the electricity grid in North Africa, to get a clear vision ahead of implementing any regional networks to transfer power.” The size of trade in the field of electric power is...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(Bloomberg 09/25/17)
OPEC’s commitment to cutting production to clear a global glut is working, but the group needs to address rising output from Libya and Nigeria, Iran’s Oil Minister Bijan Namdar Zanganeh said. Compliance with the output cuts is “acceptable,” Zanganeh told reporters Sunday in Tehran. The Organization of Petroleum Exporting Countries should focus on “the situation with Libya and Nigeria,” he said, referring to the two countries exempted from capping production due to their internal strife. Nigeria will be able to...
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(Libya Herald 09/21/17)
The head of the National Oil Corporation, Mustafa Sanalla, is expected to attend a meeting in Vienna on Friday between members of OPEC and other major oil producers outside the cartel to continue production cuts agreed last November beyond their scheduled expiry date of March 2018. However, the producers are now said to want the cuts to be extend to Libya as well as Nigeria, both of which were effectively exempted from the deal last year when it was agreed...

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