Gabon’s President, Ali Bongo Ondimba, who is presently in Morocco for the COP22, received on November 14, 2016, Hamid Raji, CEO of the Marocaine des Thés and administrator of the T-MAN holding. The two men discussed the development of Gabon’s agribusiness sector. After their meeting, Mr. Raji said his company, which was founded in 1936, plans to make Gabon the base from which it will...

Sub-Saharan Africa (SSA) focused private equity firm Adenia Parters has announced in a statement published on Nov. 10 it has secured €180 million of commitments for its fourth fund, Adenia Capital IV, thus 90% of initially eyed sum. Adenia Capital IV has attracted a wide range of investors including renowned international institutional investors, family offices, foundations as well as...

In Libreville, Gabon, the Minister of Small and Medium Enterprises Biendi Maganga Moussavou has revealed on the sidelines of the opening of the first space dedicated to SMEs in the country, held yesterday, that his office was finalizing the structuring of a FCFA10 billion guarantee fund in partnership with Africa Guaranteed Fund (AGF) and Bpifrance. “During their latest visit to Libreville...

Air Seychelles announced it would acquire a second Airbus A330 as it aims to serve new destinations in Africa and Europe. The airlines in which Emirati group Etihad Airways holds a 40% stake, plans to connect Seychelles to Germany starting from March 30, 2017, by opening a flight line to Düsseldorf at a rate of two flights per week. Air Seychelles also wants to increase flights frequency by...

Algeria's state-run energy company, Sonatrach, has announced that it succeeded in increasing its crude oil exports in October to 2.77 million tonnes of oil equivalent. According to a senior official at the company, Algeria has been investing in new technology to boost outputs at its fields after several years of deteriorating production caused by weak foreign oil investor interest. “In the...

Sterling Energy has released its operational update and financial results for Q3 ended 30 September 2016 on assets in Mauritania, Somaliland and Cameroon. On the Chinguetti oil field, the Company says it continues to work diligently with Société Mauritanienne des Hydrocarbures et du Patrimoine Minier (SMHPM) and other relevant stakeholders to ensure that the Abandonment and Decommissioning...

Strata-X Energy has announced that it has signed a heads of agreement with Magnum Gas and Power for a farm-in to get up to 75% of the Serowe Coal. Seam Gas (CSG) project is located on the Kalahari Basin CSG Fairway in Botswana. The legally binding long form agreements regarding the farm-in to the Serowe CSG Project are expected to be concluded and signed between the parties within the next 2...

PTT Exploration and Production Plc (PTTEP) has announced that it is on the point of finalizing an investment decision on three petroleum resources, postponed since last year. These three petroleum resources were delayed from last year as a result of the difficult process of procuring licences from local and central governments as well as unclear business models. According to Executive...

In Kenya, Africa Oil and its partners have revealed plans to drill eight exploration and appraisal wells from December. This is aimed at increasing proven resources and improving financing prospects for field development as well as an export pipeline. The drilling programme is to begin with two exploration wells, the first will be drilled in early December, after that two appraisal wells will be...

At least five insurers, locals and foreign, including three Moroccan groups, have expressed their interest in acquiring 35% of Tunisian firm AMI Assurances, website Africanmanager revealed on Nov. 10. The Moroccan firms interested in entering the insurer’s shareholding are Atlanta Assurance, subsidiary of Holmarcom, Saham Assurance and Wafa Assurance whose mother-company Attijariwafa Bank...