Oil & gas company Zenith Energy set to commence drilling activities in Robbana concession

TUNISIA – Zenith Energy, an oil & gas production company, has announced that it is in the process of finalising plans to commence drilling activities in the recently acquired Robbana concession, onshore Tunisia. The Company intends to drill ROB-3, an infill vertical well, in the proximity of the producing Robbana-1 well (ROB-1), to a total depth of approximately 2,400 metres. ROB-3 will target two proven hydrocarbon-bearing reservoirs in the Cretaceous Upper Meloussi sandstone formation, from which successful production has been achieved from ROB-1 for many years. A production of approximately…

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World Bank gives Kenya US$750m for COVID-19 recovery

KENYA – The government of Kenya has received US$ 750 million from the World Bank to reinforce its resilient, inclusive green economy recovery from the COVID-19 crisis. The World Bank approved this development policy financing to support policy reforms that will strengthen transparency and accountability in public procurement and promote efficient public investment spending. The support will enable Kenya to improve its medium-term fiscal and debt sustainability through greater transparency and efficiency in government spending, building on ongoing World Bank support to enhance public finance management systems. The operation provides for…

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Construction company JBN to construct first state-owned cancer and cadio-vascular center

NIGERIA – Julius Berger Nigeria Plc (JBN), a construction company, has secured contract to build Nigeria’s first state-owned cancer and cadio-vascular diseases diagnostic and treatment centre in Port Harcourt, Rivers State. Rivers State Governor, Nyesom Wike, said the multi-billion naira project is for a 14-month completion period, emphasising that JBN, would complete and deliver the project for inauguration as scheduled. “We chose Julius Berger to help us build it not only well, but also successfully within its scheduled completion time as experience have taught us the company always do with…

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Engineering company McDermott receives conditional Letter of Award for Tilenga Project in Uganda

UGANDA – A consortium of a subsidiary of McDermott International and Sinopec International Petroleum Service Corporation announced it has received a conditional Letter of Award for the future contract valued at approximately US$2 billion from Total for the Tilenga project in Uganda. The Tilenga project is located in the Lake Albert Basin, Republic of Uganda and is the centerpiece of oil projects projected to bring investments of over US$10 billion to Uganda and Tanzania. Tilenga includes six oil fields and will feature 426 oil wells at full production and formal…

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Asset manager 27four launches managed by women for women in fund management accelerator

SOUTH AFRICA – Asset manager 27four Investment Managers has launched 27four Women, an accelerator managed by women for women that will focus on accelerating the trajectory for achieving both transformation and gender parity goals in South African asset management. The women-led accelerator will provide qualifying women fund managers with access to assets under management, and operational and compliance infrastructure to allow the managers to build track record and develop skills around industry best practice and capacity building. Investors will now have access to more women managed funds to consider and,…

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NGX admits Nova Merchant Bank N10 billion bond which is due in 2027

NIGERIA – The Nigerian Exchange Group (NGX), has announced the listing of Nova Merchant Bank Plc’s N10billion (US$24.32m) Bond. The bond listed is the NOVAMBL Investments SPV N10billion Series I, 7-year 12percent subordinate unsecured fixed rate bond due 2027 under the company’s N50billion Bond Issuance Programme. “We are delighted to commemorate the listing of Nova Merchant Bank’s debut listing of its N10Bn Bond which was oversubscribed by 300%. The success of the Bond is an indication of the level of investor confidence in the company’s reputation, brand and corporate performance,”…

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Organon launches in Egypt with a focus on women’s health

EGYPT – Organon, a global company focused on women’s health, has launched its presence in Egypt in a move to transform and further prioritized women’s health in the country. The focus on diversity both on an internal and external level will lead generational change in the healthcare industry of Egypt. Organon takes a broad view of women’s health, with the goal of expanding beyond reproductive health to help address the conditions that are unique to women, but also conditions that disproportionately affect women or have an especially heavy burden on…

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Greenlight Planet secures US$5m additional funds from FMO for deployment of solar home systems

AFRICA – Greenlight Planet Inc, a company engaged in providing solar solutions in Africa is set to secure an additional US$5 million from Dutch development finance institution FMO. Greenlight Planet will use the finance for the deployment of Greenlight solar home systems in sub-Saharan Africa. “Greenlight will provide access to electricity to people at the bottom of the pyramid. Increased access to energy contributes to household productivity, economic growth and powering small businesses,” FMO said. The line of credit is in addition to an existing facility of US$10.75 million obtained…

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Edtech platform iSchool raises US$160,000 in investment from EdVentures

EGYPT – iSchool, an edtech platform providing the latest educational technology for young students, has raised US$160,000 in investment from EdVentures, the venture capital (VC) arm of Egypt’s Nahdet Misr Publishing Group. According to a statement, the startup plans to use the investment to develop an online platform to widen its edtech services in Egypt and expand to other MENA countries. “In our ever-changing world, it is quite crucial to equip our youth with different skills and knowledge enabling them to become innovators,” said Dalia Ibrahim, CEO, and Founder of…

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Four Kenyan airports obtain Carbon Accreditation Level 1

KENYA – Jomo Kenyatta, Moi, Kisumu and Eldoret international Airports have joined the Airport Carbon Accreditation programme, achieving Level 1 “Mapping” accreditation, Kenya Airports Authority (KAA) has announced. The four Kenyan airports are the first airports in East and Central Africa to join the Airport Carbon Accreditation programme, committing the facilities to reduce their carbon emissions, with the ultimate goal of achieving carbon neutrality. Owned by Airports Council International, the Airport Carbon Accreditation programme is the only institutionally-endorsed, global carbon management programme for airports and it provides airports with a…

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