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Libya: Central Bank takes loan, budget not voted

Spokesman Omar Hmeidan of the General National Congress has said that Libya will be taking a 2,55 billion Libyan dinar emergency loan to finance the functioning  of the government after lack of income.  Libya’s main source of income is oil and gas but the rebels have laid siege on several oil ports and fields thereby […]

Libyan tribes okay Egyptian army’s intervention in Libya

Leaders of Libyan tribes have expressed their support for a military intervention of the Egyptian army in the oil rich country.   This came at a meeting Thursday with Egypt’s President Fattah al-Sisi who made it clear that he will not “stand idle in the face of threats to the national security of Egypt and […]

Angola, DRC and Zambia move towards jointly managing key trade corridor

Angola, Zambia and Democratic Republic of Congo (DRC) have agreed to establish a new agency that will oversee the development and joint management of a trade corridor to and from the Atlantic Ocean port of Lobito, which could mean lost business for South African ports. The Lobito Corridor Management Institution will facilitate trade from Zambia […]