The preliminary construction works on the 2 400MW Batoka Gorge hydroelectric dam developed by the government of Zambia in collaboration with that of Zimbabwe has begun in preparation for the full implementation of the mega electricity generation scheme. This was revealed by Dr. Gloria Magombo, the permanent secretary of the Ministry of energy and Power Development in Zimbabwe who also co-chairs the Zambezi River Authority (ZRA) board with her Zambian counterpart, Mr. Trevor Kaunda.
Privately held international oil company Perenco SA has entered into an agreement with TOTAL Gabon SA, a 58%-owned affiliate of French energy major TOTAL SA, to acquire a portfolio of non-operated interests in seven mature oil fields, offshore Gabon.
South Africa will embark on a major public works and job-creation drive in response to the coronavirus crisis, President Cyril Ramaphosa said on Thursday, unveiling a plan to return Africa’s most industrialised economy to growth.
According to Dryad Global, LNG tanker METHANE PRINCESS (IMO9253715) was boarded by pirates whilst at anchor off Malabo. The vessel was attacked shortly after breaking offloading operations. The alarm was sounded and all on deck were able to retreat to the citadel.
2 Filipino nationals were on the jetty and both were taken, hostage. One of the hostages jumped off of the pirate vessel and was rescued but sustained injuries. One person entering the citadel was also injured. Total of 1 hostage taken.
Zambia moved closer to becoming the first African nation to default on its dollar bonds since the onset of the coronavirus, making it a test case for nations worldwide battling to meet obligations to a range of lenders from bondholders to Chinese state banks.
Africa is losing nearly $89bn a year in illicit financial flows such as tax evasion and theft, amounting to more than it receives in development aid, a new UN study shows.
An African Union review panel criticized credit ratings companies for aggressive downgrades of countries on the continent during the coronavirus pandemic.