Featured
Issue 407 -
Ghana: Tullow to write down $1.5bn for 2019
Beleaguered Tullow Oil said on 15 January it expects to report pre-tax impairments and exploration write-offs of about $1.5bn in its 2019 results in March, mainly due to a $10 reduction in the group’s long-term accounting oil price assumption to $65/barrel and a reduction in 2P...
Issue 407 -
Ghana
Issue 407 -
Congo B: AAOG sale approved
Anglo African Oil & Gas (AAOG) shareholders voted on 13 January to approve the sale of 80% in AAOG Congo to London-listed Zenith Energy. Zenith also entered into a term sheet for a put and call option agreement over the remaining 20%, depending on the level of production...
Issue 407 -
Congo B
Issue 407 -
CFA franc to be replaced by eco, but initial change is largely symbolic
The move by the eight-member Union Economique et Monétaire Ouest Africaine (Uemoa) to end its 55-year-old currency union based on the French-guaranteed CFA franc will have a range of consequences for businesses and political relations. The new eco currency, whose creation was...
Issue 407 -
West Africa
Issue 406 -
Ghana: Genser Energy closes infrastructure financing
Genser Energy Ghana Limited on 6 December announced financial close for a $366m funding package including a new syndicated senior loan facility of $230m, a mezzanine loan and preference shares, described as one of the largest financings for a Ghanaian private company in...
Issue 406 -
Ghana
Issue 406 -
Uganda: Umeme secures $70m loan
Distribution company Umeme Ltd announced on 12 December that it has secured a $70m loan that will part-fund its capital expenditure for the next two years. The World Bank Group’s International Finance Corporation was lead arranger for the syndicated loan; participants included...
Issue 406 -
Uganda
Issue 405 -
Gridworks finalises investment in South Africa’s Mettle Solar
Gridworks, a company launched by the UK government-owned CDC Group, announced on 2 December that it has reached financial close on a R106.7m ($7.5m) investment in South African commercial and industrial (C&I) solar company Mettle Solar Investments. The transaction has been...
Issue 405 -
South Africa
Issue 405 -
South Africa: JDA signed for gas imports
Total, South Africa’s Gigajoule Group and Matola Gas Company (MGC) signed a joint development agreement (JDA) on 27 November for a project to import LNG to Matola port to supply local and regional markets.The project involves a permanently moored floating storage and...
Issue 405 -
South Africa
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