Company in Central Africa

  • Africa: Expanded Engagement for Caterpillar - Boosting Sales & Alleviating Poverty

    BOTSWANA, 2017/07/16 A strong signal of growing business engagement with Africa by large U.S. corporations was the announcement last September by Caterpillar CEO Doug Oberhelman of plans to invest over $1 billion in Africa over the next five years. Caterpillar is not a new-comer, having begun doing business on the continent in 1926. At last month's U.S.-Africa Business Summit in Washington, DC, David Picard, Caterpillar's regional manager for Africa and the Middle East, described some of the steps that have been taken since last year's announcement. He as well talked about the challenges and opportunities he sees, inclunding Nigeria, where the company has operated since 1948. He was interviewed by AllAfrica's Noluthando Crockett-Ntonga and Ladi Olorunyomi from Premium Times in Nigeria. The interview has been edited for clarity and length.

  • Sonangol restructuring plan produces some results

    ANGOLA, 2016/12/04 Sonangol, Angola's national-owned oil company, says it has identified savings worth US$240m in the five months since it began implementing its restructuring plan. The firm, which since June has been led by Isabel dos Santos—the eldest daughter of Angola's long-serving president, José Eduardo dos Santos—says it has cut back on wasteful spending and is reviewing all critical processes in order to boost efficiency. Although international oil firms have welcomed the efficiency drive, there is significant disquiet part Angolans about Ms dos Santos's appointment. A petition questioning the legality of her nomination—on the basis that it violates public probity laws—has been lodged with the country's Supreme Court.

  • SOCAR eyes co-op with Angola

    AZERBAIJAN, 2016/07/24 Angola’s Sonangol Hidrocarbonetos Internacional oil and gas company is interested in cooperation with Azerbaijan’s national energy giant SOCAR. SOCAR reported that the issue was on the highest schedule during the conference of Rovnag Abdullayev, President of SOCAR with Federico Domingos, Director General of Sonangol Hidrocarbonetos İnternacional and Filomena Oliveira, Deputy Director General of the company. The representatives of the Angolan delegation expressed their interest in cooperation with SOCAR.

  • Bank of Africa to begin operations in Cameroon

    CAMEROON, 2016/01/11 The Pan-African banking group, Bank of Africa (BOA) could begin operations in Cameroon in the next few weeks, its application for authorization to open a subsidiary in the major economy of Central Africa being on the “right track”, the Cameroonian Ministry of Finance announced on Tuesday. This will be so, the successful development of an application for authorization submitted in 2014 to the national monetary authority and the Central African Banking Commission (COBAC) as well, which is the regulator of the banking sector in this part of the continent.

  • Jaguar Land Rover on its business in sub-Saharan Africa

    ANGOLA, 2015/12/11 Nigeria and Angola remain two of Jaguar Land Rover’s major markets in sub-Saharan Africa, according to the company’s director of operations for the region, Nigel Clarke. This is despite both economies feeling the result of the drop in oil prices over the last year. Angola gets roughly two-thirds of its revenue from oil. The luxury car manufacturer, with its sub-Saharan headquarters in Pretoria, exports the bulk of its vehicles to eight markets in the region – Angola, Ghana, Kenya, Mauritius, Nigeria, Tanzania, Zambia and Zimbabwe. However, over the next two years Jaguar Land Rover will focus on growing its business in six smaller markets – Senegal, Côte d’Ivoire, Gabon, Congo-Brazzaville, Malawi, Mozambique – through local country partners. “Due to the expansion of our office in Pretoria and the fact a lot of of our processes and systems are presently in place, which has taken a long time, we are much additional ‘fitter’ to take on these markets.”

  • Louis Berger to support sub-Saharan Africa transportation sector development under A.C.P.-European Community Partnership

    AFRICA, 2015/07/22 Louis Berger (http://www.louisberger.com), as part of a consortium led by NTU International A/S, has been hired to support the development of the transportation sector in the African, Caribbean and Pacific (A.C.P.) Group of States, with a focus on sub-Saharan Africa. This 2.3 euro million ($2.6 million USD) project aims to promote inclusive political, economic and social development through enhanced regional integration by strengthening African nations’ ability to regulate, organize and finance better inter-regional and continental transportation infrastructure through safe trans boundary transportation corridors and integrated transportation policies. The project as well will support evolution toward the Millennium Development Goals in A.C.P. nations.

  • Unione invests USD 20 million in integrated development in Humpata

    ANGOLA, 2015/05/14 The business group of Integrated and Development of Companies "Unione" invested, as from 2013, twenty million US dollars, in a construction project of an integrated and sustainable park of Humpata municipality, southern Huíla province. This was said to the press on Tuesday by the executive director of the referred group, Fernando Gomes, at the end of a visit paid by the vice governor of Huíla for political and social affair, Maria João Chipalavela, to the site for the implantation of the project. Fernando Gomes said that the project aims to develop and promote the foreign and national investors to implement its actions in the park, as it started to be developed in 2013 and covers the areas of urbanisation, agriculture, tourism, sport and trade.

  • Australia’s Lucapa Diamond Company

    ANGOLA, 2014/03/16 Australia’s Lucapa Diamond Company has been authorised to sell 371.35 carats of diamonds valued by independent consultancy Jaguar Consultants at 308.4 million kwanzas (US$3.16 million), Angolan newspaper Expansão reported. The company, which is prospecting for diamonds at the Lulo project in Angola’s Lunda Norte province, has been authorised by the Angolan authorities, for the second time, to sell the diamonds it has discovered. The lot of diamonds includes the two major found by the company in January of this year. One of these is a 95.45 carat stone and the other is 32.2 carats.

  • SOGARA managed to increase its production capacity to 165 tonnes/hour

    GABON, 2014/01/10 Gabon's oil refinery treated 820,000 tonnes of crude oil in 2013 against a target of 1.05 million tonnes, the Managing Director of the company (SOGARA), Pierre Reteno Ndiaye, told journalists in Port-Gentil on Tuesday. He attributed the shortfall in production to a 27-day strike called in February, a 28-day halt in production following a technical problem and a two-week maintenance. “Despite those problems, SOGARA managed to increase its production capacity to 165 tonnes/hour as against 110 tonnes/hour before,' Mr Ndiaye added.

  • Profit of Banco Angolano de Investimentos down 15% in 2012

    ANGOLA, 2013/04/22 Banco Angolano de Investimentos (BAI), Angola’s major bank by assets, closed 2012 with a profit of US$180 million, down 15 % over 2011, indicates a statement released on Thursday in Luanda. The lower profits are fundamentally due to the need to constitute reserves following the increase from 4.9 % to 7.2 % of credit overdue additional than 90 days over total credit, “in line with the market trend”.
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