The Zimbabwe Electricity Supply Authority (Zesa) said it needs $100 million to implement close to 138 new electrification projects in the country. These projects, according to Zesa’s spokesperson, Fulard Gwasira, will lead to 102,000 people being added to the national power grid. “The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is looking at increasing revenue...

Mining firm Hummingbird Resources raised a total of $67 million to begin construction of its Yanfolia gold mine. The firm will use the money to complete detailed technical studies and order long-lead delivery equipment for the construction. The firm raised this sum by placing 103.69 million shares and subscribing to 104,690,000 shares at 22p a share. Moreover, Hummingbird mentioned a...

Qatar Airways plans to buy between 25 and 49% of Royal Air Maroc (RAM) as it wishes to expand in Africa, The National reported on June 5, citing one of the firm’s executive. “The acquisition will require a significant improvement to the airline’s Casablanca base as Africa is in a great need for a major airport hub in the continent,” said Akbar Al Baker, CEO Qatar Airways. According to...

The Rovuma Area 1 gas project in Mozambique is currently facing lack of investment as the commencement of production is now uncertain. With no binding agreement from possible Liquefied Natural Gas (LNG) buyers, it is still not sure when operations will begin on the field as few buyers were willing to sign long-term contracts in this declining oil and gas pricing environment.Two government...

Ghana's National Petroleum Corporation (GNPC) expects first oil from the offshore Sankofa field in H2 of 2017 and first gas output by early 2017, an official revealed. The exploration and commercialization of the gas is currently being carried out by Eni and Vitol in partnership with GNPC. The start of operation from the Sankofa offshore field which is supported by the World Bank will assist in...

The government of Mozambique intends to spend $150 million on 3D seismic surveys in the blocks included in the fifth international tender for oil and gas exploration, the president of the National Oil Institute (INP) revealed. The fifth international tender for oil and gas exploration which was opened on October 23, 2014 by INP, comprises of a total of 11 areas in the sea in the Rovuma...

The Tanzania Petroleum Development Corporation (TPDC) has announced that it has signed a Memorandum of Understanding (MoU) with the Minjingu Mines & Fertilizer Company Ltd of Arusha to join forces in performing detailed assessments in the Songo Songo West license. According to TPDC’s Managing Director, James Mataragio (photo) the agreement between Minjingu and TPDC has provided the chance...

Ghana plans to commence the importation of Liquefied Natural Gas (LNG) by early 2017, the acting chief executive of Ghana National Petroleum Corporation (GNPC) revealed. According to Alex Mould (photo), GNPC is in talks with a range of traders and the company is in the market for between 250 and 500 Mmscf/d of gas to be used to assist in the generation of power in the country. “GNPC will be...

The World Bank, in a report published on June 6, revealed that Uganda’s economy should grow by 5.9%, between July 2016 and June 2017, against 5% the previous year, as a result of private investment in major infrastructure projects. “The main driver for growth will be the construction industry, whose development will be spurred by major public investments in infrastructures,” the institution...

In Botswana, the net result of Standard Chartered Bank’s subsidiary slumped by 85.26% in 2015 to 47.3 million Pula ($4.34 million), from 311 million Pula ($28.5 million) in 2014, financial results published at the end of last week shows. The firm’s management said the poor performance is due to fall in commodity price which affected mining companies, that contributes significantly to...