International

VENTURES AFRICA- Nigeria has urged Brazilian investors to exploit diverse opportunities presented by its agriculture, minerals and metals sector. Nigeria decided to partner Brazil on agriculture because of its growing global influence, which was due to its ability to feed itself and export to the rest of the world; a statement signed by the Director of Press in [...]

VENTURES AFRICA – The US Department of Justice has announced the arrest of Frederic Cilins, who is accused of attempting to obstruct an ongoing investigation into whether a mining company paid bribes to win lucrative mining rights in the Republic of Guinea’s Simandou deposit. Mr. Cilins, a French national is alleged to be a representative [...]

VENTURES AFRICA – Gulfstream Aerospace Corp. has seen steady growth for Gulfstream Beijing, the service center it opened last November. “We’re seeing more customers every week,” said Mark Burns, president, Gulfstream Product Support. “Our technical staff has serviced more than 40 aircraft since we began operations. We’re not just working on aircraft at the facility; [...]

VENTURES AFRICA – The International Finance Corporation (IFC) is providing will provide a $7.8 million loan to the Compagnie Hôtelière de la Lagune S.A., the Ivorian company of the Azalai Hotels Group. The loan will support the construction of a new business hotel that will contribute to the revitalization of commercial infrastructure in Abidjan, the IFC [...]

VENTURES AFRICA – Nigeria and Qatar have finalised plans to sign a memorandum of understanding (MoU) for the investment of $390 million in former’s transport sector in 2013. BusinessDay quoted Nigeria’s Minister of Trade and Investment, Olusegun Aganga, who disclosed this on Tuesday in Abuja, as saying: “Nigeria and Qatar have concluded arrangement on the [...]

VENTURES AFRICA – French car-manufacturer Renault plans to build a new factory in Algeria, pushing for rapid expansion on the African continent, as French President Francois Hollande embarks on a visit to the North African country. Renault will sign an agreement for the construction of the factory with the Algerian state on Wednesday – with [...]

VENTURES AFRICA – As part of her plan to achieve sustainable power by the year 2020, Nigeria has signed a pact with Sinohydro-Cneec Corporation, a synergy of two Chinese firms (Sinohydro Corporation and China National Electrical Equipment Corporation), to build a 700 mega watt Hydro Power station on the Northern Zungeru River, Niger state. The [...]

VENTURES AFRICA – The International Monetary Fund (IMF) has delayed a $4.8 billion loan to Egypt after Cairo postponed belt-tightening economic measures. This was confirmed by Egypt’s minister of finance, Mumtaz Al Said, on Wednesday, saying the deal was due to be approved in December this year. This is a huge blow to the Egyptian [...]

VENTURES AFRICA – Tullow Oil has revealed mixed results of drilling in Ghana, announcing the start to full-production at its Jubilee operations, while Okure-1 drilling has failed to find oil reserves. British-owned Tullow today announced that its Jubilee Phase 1A well has begun full on-stream production, and is currently achieving at output of 16,500 barrels [...]

VENTURES AFRICA – Uncertainty looms between Niamey and Paris over the much- coveted nuclear fuel mineral uranium, it has emerged. According to the Nairobi-based think tank, Analysis Africa, despite the falling global uranium prices, Niger is seeking to take control of the Areva-operated uranium mine of Imouraren which is 160km north of Agadez. The Imouraren [...]

VENTURES AFRICA – Leading Pan African bank, Ecobank Transnational Incorporated, has opened a representative office in Beijing, China following an approval received from China Banking Regulatory Commission in July and a business registration certificate from Beijing’s Administration for Industry & Commerce in October. The new office is expected to strengthen the cooperation between Ecobank and [...]

VENTURES AFRICA – The relationship between the World Bank and Chad continues on its rocky road, as Chad’s President Idriss Deby publically criticises the bank for failing to help his country’s development. According to the President, the World Bank has treated, and is still treating, the central African nation unfairly, perpetuating its on-going struggle against poverty, and [...]

VENTURES AFRICA – American blue chip conglomerate, General Electric (GE), has expressed plans to make Nigeria a hub for its African businesses as it enlarges its operations on the continent According to by the President and CEO of GE Nigeria, Lazarus Angbazo, “The reason we are focusing on Nigeria is that it is big, it [...]

VENTURES AFRICA – US President Barack Obama, has launched a new African economic campaign called ‘Doing Business in Africa’ (DBIA), as part of his administration’s ‘US Strategy Toward Sub-Saharan Africa’ policy which was established in June. “The economies of sub-Saharan Africa are among the world’s fastest growing, and this economic expansion—partly a result of our [...]

VENTURES AFRICA – The World Bank has granted Tunisia – which was badly battered by the Arab Spring uprisings – a $500 million loan, it was announced late Tuesday. The World Bank said the loan is meant to assist the country mend from the Arab Spring uprising that deposed the previous regime. The World Bank [...]