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Week commencing 26 February 2018
Israeli oil and natural gas exploration group Delek has signed two deals to sell gas to Egyptian gas distributor Dolphinus Holdings. Under the deal, Delek will supply Dolphinus with 64-billion cubic metres of gas worth $15bn over 10 years. The gas will be supplied from deep-water offshore gas fields in the Mediterranean, owned by Delek with American energy company, Noble.
Haaretz 19 February
The Dubai-based Majid Al Futtaim group (MAF) has signed an agreement to open 100 new Carrefour stores across Egypt, adding to the 37 stores it already operates for Carrefour in Egypt. MAF has not disclosed how much it will invest on the move, but it intends to source its products from local suppliers and farmers.
Kam City 20 February
Australian private equity firm EMR Capital is looking to double copper production to 40,000 tonnes at Lubambe Copper Mine over two years after acquiring an 80% stake amounting to $100m. The investment is the company’s first on the African continent.
Zambia Daily Mail 21 February
The African Export-Import Bank is set to invest up to $1.5bn in fishing, mining and financial projects in the mineral-rich north African nation as it seeks to diversify its economy. The investment is earmarked for infrastructure projects in the private sector, with a strong focus on the banking sector.
The Guardian Nigeria 20 February
Hydropower efficiencies are expected to improve following the Malawi Challenge Account’s (MCA) awarding of a $7m contract to US firm, Elliot Dredges, for the supply of dredging equipment at its Kapichira Hydropwer Plant. The contract aims to improve the MCA’s power generation capacity as it implements a $350.7m energy production project. Nearly 95% of the country’s power is generated by hydropower.
The Nation 19 February