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As explorers seek out new areas in which to test East Africa’s oil and gas potential, the Comoros has licensed its first block to Bahari Resources

A group of seasoned East Africa hands has been awarded a big permit to explore in the previously ignored Comoros islands

The issuing of Bahari Resources’ exploration licence in March followed the signing in February of an agreement between the Comoros, Seychelles and Tanzanian governments to delimit their maritime borders. A similar agreement was concluded in December between the Comoros, Mozambique and Tanzania. These accords “take the headache away”, said chief executive Peter Wakeling

The International Finance Corporation has announced that it will invest E7m in I&P Capital II, a private equity fund that finances small and medium enterprises in the Indian Ocean region.