Mozambique floods

Algeria’s Sonatrach signs $1 billion gas plant deal

India-based conglomerate Larsen & Toubro has signed an agreement with Algerian state-owned Sonatrach to develop three new gas treatment and compression plants on pre-existing gas fields in the North African nation. The agreement comprises detailed engineering studies, supply management of materials for the construction, trials and commissioning, training of personnel and operational assistance. The plant […]

World Bank to leverage guarantees for increased international financing in Morocco

The World Bank plans to utilize guarantees to draw more international financing to Morocco, said Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA). “We believe that these guarantees can help Moroccan borrowers (corporate and public institutions and non-sovereign risk counterparties) diversify their financing sources with private capital,” Matano said in an […]

Algeria’s Cocainegate Continues to Uncover Corrupt Officials

Cocainegate, as the press came to call it, continues to stir heated debate in Algeria after senior officials including major gendarmerie general Menad Nouba are brought before justice. Authorities seized 701 kilograms of cocaine last May on a ship in the port of Oran. The record haul points to a growing network linking South America […]