African Business News

New drilling planned in Ethiopian concession

Global oil and gas exploration company Tullow Oil Plc is to start drilling on the Ethiopian concession it has in South Omo Valley, Southern Regional State next January.

London-based Tullow has concession rights in 23 countries including three African counties, Ghana, Kenya and Uganda.

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China bolsters Africa ties with $20b in loans

Beijing: Chinese President Hu Jintao on Thursday offered $20 billion (Dh73.4 billion) in loans to African countries over the next three years, boosting a relationship that has been criticised by the West and given Beijing growing access to the resource-rich continent.

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Major African Airlines Move to Dominate West African Market

Successful African airlines like Ethiopia Airlines, Kenya Airways and South Africa Airways (SAA) are trying to take over the lucrative West African air transport market long dominated by Nigerian airlines.

To actualise this objective, the airlines floated regional carriers with operating hubs in West or Central Africa.

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BRICS a forum for strengthening India-S Africa ties: diplomat

India and South Africa enjoy a very close and cordial relationship and BRICS provide them with yet another opportunity for creating more networks, a top Indian diplomat has said.

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