EGYPT
Electrolux waits to open plants
Electrolux extended the closure of its Egyptian plants yesterday until security stabilises. Electrolux, which has nearly 7 000 employees in Egypt, suspended production in Egypt on Wednesday for five days. The company said it would reassess developments continuously. “Operations will be resumed as soon as the security situation stabilises,” it said. Electrolux’s turnover in Egypt exceeded 2 billion krona (R3.1bn) last year. It bought Egypt’s largest appliance maker, Olympic Group, in 2011. – Reuters
SOMALIA
Soma to survey coastal oil, gas
Soma Oil & Gas, one of the first energy explorers in Somalia after years of war, had agreed to give the government data on the country’s offshore potential in return for the first choice of unclaimed areas, its chief executive said on Friday. Soma, a privately owned company formed this year, said it planned to spend at least $20 million (R200m) to digitise old data and contract a boat to collect seismic information on the geology off Somalia’s coast. “In this industry, when you look at where the major underexplored areas are in the world, Somalia kind of sticks out,” chief executive Robert Sheppard said. – Reuters
SIERRA LEONE
Diamond sales lift state funds
Sierra Leone exported $102 million (R1bn) worth of diamonds in the first half of the year, up from $71m in the same period last year, the National Mineral Agency said on Friday. The government collected $5.1m in taxes in line with the 5 percent export levy, showing progress in channelling gem revenues through the government. – Reuters