Savannah Petroleum in talks to buy ExxonMobil’s asset portfolio in Chad and Cameroon

CHAD-CAMEROON – Savannah Energy, the African’s oil, and gas industry-focused British independent energy company, is in advanced exclusive discussions with ExxonMobil with respect to the proposed acquisition of its entire upstream and midstream asset portfolio in Chad and Cameroon. The proposed acquisition would include a 40% operated interest in the Doba Oil Project, and an effective approximately 40 percent interest in the Chad-Cameroon oil transportation pipeline.  In 2020, the Doba Oil Project produced an average gross of 33.7 thousand barrels per day (Kbopd), and the Chad-Cameroon pipeline transported a gross of 129.2 Kbopd. If completed on…

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Liquid Intelligent Technologies becomes the largest network provider in Africa after achieving 100,000 km of fiber

AFRICA – Liquid Intelligent Technologies, a digital solutions provider, has achieved the 100,000 kilometres fibre network milestone, positioning it as the largest independent fibre network provider in emerging markets globally. Liquid has been manoeuvring steadily through Africa, investing in increasing its reach, which it has successfully done, moving the dial from 89,989 km at the beginning of 2021 to reach this new milestone now.   With its additional fibre network connecting 14 countries, primarily in Sub-Saharan Africa, customers can now explore opportunities in Africa and across the US, Asian and…

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Kenya unveils business acceleration program Startup Savanna for early-stage entrepreneurs

KENYA – The government of Kenya through the Ministry of Industrialization, Trade and Enterprise Development, has launched Start-up Savanna, an international business acceleration program that will link Kenyan startups to global angel investor and business support resource networks.  The program opens a platform where local startups can be facilitated to access a global network of events, accelerators and incubators, mentors, investors, and corporate partners which in the end will attract much-needed technical expertise and funds to enable them to scale their operations within and beyond Kenya. Betty Maina, Cabinet Secretary for…

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Swedish investment platform Trine and Altech Group join forces to bring clean energy to DRC

DRC – Swedish-based investment platform Trine has partnered with Altech Group, a market leader in the Democratic Republic of Congo (DRC), distributing world-class clean energy products and services to bring clean energy to the country. This comes at a crucial time where nearly 90% of the population of over 80 million are without access to electricity. The first debt financing round will reach over 14,000 people with clean energy across 21 of Democratic Republic of Congo’s 26 provinces and is estimated to reduce 1,300 tons of CO2.  The new partnership, totaling US$6…

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Dangote Oil refinery set to be completed by 2021, to produce 650,000 barrels per day

NIGERIA – Dangote Oil refinery, Africa’s largest oil refinery, is anticipated to be completed by the end of 2021 and subsequently commissioned for full operationalisation next year or early 2023. When completed, the 650,000 barrels per day (bpd) petrochemical and integrated refinery will process a variety of light and medium grades of crude to produce Euro-V quality clean fuels including gasoline and diesel as well as jet fuel and polypropylene. Aliyu Suleiman, Group Chief Corporate Strategy Officer at Dangote Group made the assertion addressing participants in a webinar held by…

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UBA Ghana opens its 28th branch in Kumasi as it deepens its footprints locally and globally

GHANA – As part of its plans to reach the unbanked while offering innovative banking services to traders and businesses, the United Bank for Africa (UBA) Ghana Ltd has opened a new Business Office in Kumasi, at the newly redeveloped Kejetia Central Market. The new Kejetia Branch brings the number of Branches in the country to 28 with 6 in Kumasi, with an additional plan to unveil another in Kasoa in the Central Region by close of month. Speaking at the opening of the new Business Office in Kejetia, Managing…

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Ed tech firms join forces to raise STEAM as they focus on the growth of Nigerian economy

NIGERIA – Education Technology firms in Nigeria have joined forces to raise the bar of Science, Technology, Engineering, Art and Math (STEAM) education in the country to enhance multi sectoral development. The firms, 9ijakids, Edufun Technik and STEM-METS which believe in catching them young assembled over 1300 children between ages 7 to 13, both within and outside the country to engage them in practical and theory lessons on STEAM subjects, tagged ‘Children’s Day STEAM Fun Fest’. According to the organisers, the initiative was thought of given the significance of STEAM…

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Google launches series of programmes to support the growth and recovery of SMEs

AFRICA – Tech-giant Google has launched International Small Business Month, a series of programmes that aim to support the growth and recovery of SMEs in Africa. Mojolaoluwa Aderemi-Makinde, Google’s head of brand and reputation for Africa said that the programmes are tech-driven and will enable SMEs in Africa to expand their customer base. “As more consumers start their journey looking for products and services online, we want to do more to help retail small businesses digitise and better leverage online tools for growth. One thing we know for sure is…

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AfDB, SEC Ghana launch US$400,000 project to strengthen capital markets

GHANA – The African Development Bank Group (AfDB) and the Securities and Exchange Commission (SEC) of Ghana have launched a US$400,000 project to strengthen the development of Ghanaian capital markets. This follows the signing of a grant agreement to develop a risk-based supervisory solution for the local capital market. The grant, from the African Development Bank’s Capital Markets Development Trust Fund will finance the provision of technical assistance and capacity building for the SEC, the markets regulator, and the Ghana Stock Exchange. The project will enhance the SEC’s institutional capacity…

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