Lafarge SA, the French cement maker that plans to merge with Holcim Ltd. of Switzerland to become the world’s biggest producer of the building material, will combine Nigerian and South African assets to form a new company to compete with Africa market leader Dangote Cement Plc.
Tullow Oil Plc, a U.K. explorer with most of its licenses in Africa, expects to find oil in Madagascar when it begins drilling in the south of the Indian Ocean island next year, a company official said.
Madagascar’s government hoped last week’s referendum on a new constitution would ease the nation’s political and economic isolation. Instead, a coup attempt on the day of the vote plunged the economy deeper into turmoil.
Madagascar takes a step toward returning to democracy and ending its international isolation as voters began casting ballots in the first presidential election since a 2009 military-backed coup stalled the economy.
President Andry Rajoelina , a 36- year-old former DJ and mayor, is pushing for a “yes” vote in today’s Madagascan referendum on constitutional changes that opponents say aim to legitimize his rule after he seized power with the aid of the military.