Pirates Attack Product Tanker off Ivory Coast

Posted by Joseph Keefe
Wednesday, September 03, 2014

Armed pirates robbed a petroleum products tanker near Ivory Coast’s port of Abidjan, a maritime agency and a private security advisor said on Wednesday, in an indication of the increasing mobility of Nigeria-based gangs. The raid on the tanker came just a day after two failed pirate attacks that occurred just hours apart in waters off Nigeria’s southeastern coast, according to the same sources. Pirate attacks in West Africa’s Gulf of Guinea, a significant source of oil, cocoa and metals for world markets, have almost doubled from last year, jacking up insurance costs for shipping companies. Continue reading

West African forum to focus on $20 billion investment prospects

Issac John / 2 September 2014

The eight Franco-phone countries, members of UEMOA (the West African Economic & Monetary Union), boast a combined gross domestic product of $75 billion.

Heads of state from eight West African countries are scheduled to attend next week in Dubai an investment forum aimed at offering GCC investors opportunities in the $20 billion annual infrastructure spending required for the continent’s fastest growing region. Continue reading