BUSINESS
EGYPT – Global partners promote oil and gas exploitation

Egypt is on a good track to export oil. Indeed, this country in the Horn of Africa signed just under 100 contracts with international oil companies (IOCs) between 2015 and 2021 for a value of USD 17 billion. He offered signing bonuses for drilling 319 wells.
In Egypt, all of the country’s oil production is carried out by foreign investors, including some of the most well-known companies in the sector, such as Shell, BP, Eni and APA Corporation (formerly Apache). The International Trade Association reports that between 2015 and 2021, Egypt signed just under 100 contracts with international oil companies (IOCs) – worth USD 17 billion – and offered signing bonuses for drilling 319 wells. In 2022 alone, 53 new oil and gas discoveries were made in Egypt, according to the 2022 Ministry of Petroleum and Mineral Resources Achievement Report.
But the land of the Pharaohs will not auction potentially prolific blocks (in January 2021, proven reserves amounted to 3.6 billion barrels of oil and 75.5 trillion cubic feet of natural gas) and then simply collect royalties.
The only way for IOCs and independents to get involved in Egypt’s upstream sector is to create a joint venture with a public entity such as the Egyptian General Petroleum Corporation (EGPC). Although contractual agreements take different forms – production sharing being the most common – this approach allows Cairo to keep an eye on its resources (and ensure proper extraction) while enabling partners to access opportunities with reduced risk. Today, no fewer than 50 international and independent oil companies participate in joint ventures, which have a considerable impact on the country’s economic well-being. According to the International Trade Association, hydrocarbon production is “by far the largest industrial activity in the country.” In fiscal year 2019-20, with relatively stable oil production, it represented about 24% of total GDP.
A committed partnership
As if Egypt’s vast resources were not enough to interest global energy companies, the government’s supportive policies reinforce their commitment to creating attractive investments. For example, while the CPSM does not establish a joint venture until the foreign company has completed exploration wells (and thus has the opportunity to determine if the project is viable), it often helps offset sunk costs – which can amount to millions of dollars – by giving a larger share of production to its partner. The fact that production costs in Egypt are among the lowest in the world is also relevant to this situation, which means that it takes less time for companies to recover their investment expenses. And, of course, having a government entity as a partner allows access to intermediate and downstream facilities at a lower cost.
According to the report “The State of African Energy Q1 2023 Outlook Report”, these factors pay off for companies like the American APA Corporation, which partners with the EGPC in Khalda Petroleum Company, Egypt’s largest oil producer.
Despite its long-term and highly successful relationship with APA, Egypt is not prepared to rest on its contractual laurels. In 2021, the country modernized and consolidated its production-sharing agreement with APA and its Chinese partner in Egypt, Sinopec. Aimed at boosting drilling rigs and production, the 20-year agreement, valued at US$3.5 billion, had an almost immediate effect: shortly thereafter, APA and Sinopec announced plans to double the average number of rigs compared to 2021. to triple the number of wells completed and increase upstream production by 12% to 15%. APA held 5.3 million gross acres in Egypt at the end of 2022, most of which – approximately 68% according to the company’s estimates – is not operating. The company says Egypt offers “considerable opportunities for exploration and development for the future.”
In parallel, the other joint ventures of EGPC – Belayim Petroleum Company (PETROBEL) (with Italian Eni), Gulf of Suez Petroleum Company, or GUPCO (with British BP), and AGIBA Petroleum Company (Eni and Russian Luckoil) – also seek to consolidate Egypt’s position as a regional energy hub. But it’s not just about oil – after all, Egypt is Africa’s third-largest producer of natural gas – and it’s not just about big names in energy.
The independent German company Wintershall Dea, for example, may not be as well known as the international oil companies, but it has been in Egypt as long, if not longer. The company started producing oil in the Gulf of Suez 50 years ago, but has since turned to natural gas. Among other partnerships, it partnered with EGAS, the Egyptian state-owned gas company, in a 50-50 joint venture called DISOUCO.
New players in the mix
Recent contract activity suggests that the joint venture model will be the foundation of the Egyptian oil and gas industry for years to come. For example, early last year Egypt signed new agreements with Canadian independent companies Transglobe Energy Corp. and Pharos Energy, based in London, to explore, develop and produce oil in the eastern and western deserts. The agreement includes approximately USD 506 million in new investments. Capricorn Energy, headquartered in Edinburgh, Scotland, which acquired Shell’s land assets in the western desert in 2021, is another new name to watch. The company has already announced that production exceeds expectations and plans to increase its capital expenditures accordingly. With respect to the IOCs, Shell, Eni, BP and BP are all preparing new drilling programs. Chevron said it would focus on Egypt and Suriname in the future.
It also suggests that the world needs more energy, and not less, and that efforts to discourage investment in African energy in the name of global decarbonization have not been as successful as Western climate activists would have liked.
BUSINESS
TOGO – The manganese mine of Nayega enters into operational phase

The presidency of Togo has announced that the project to exploit the manganese mine of Nayega, located in the Savanes region in the north of the country, is entering its operational phase. According to a statement issued on June 10, 2025, production is scheduled to start at the end of June 2025, with an initial volume of 4,000 tons per month, which should gradually double to reach 8,000 tons per month.
Keras Resources is the technical partner retained by the Togolese government to carry out this project. A statement from Keras, relayed by the presidency, details that the company signed a cooperation agreement in 2023 with the Togolese state, owner of the mine through the Togolese Manganese Company (STM). Under the terms of this agreement, Keras will receive a remuneration of 1.5% of the mine’s gross revenue for three years for its advisory services, as well as 6% for brokering services.
The reserves of the Nayega mine are estimated at 8.5 million tonnes, which would allow exploitation over a period of 11 years. The authorities of Lomé welcome the expected contribution of the mine to the national budget, a benefit that should be strengthened by the rigorous management of the generated revenues, as indicated by our colleagues from Agence Afrique.
With a growing global demand for manganese, particularly in steel alloys and renewable energy technologies, Togo is seeking to assert itself as an essential supplier of this strategic ore. This positioning could play a catalytic role for the national economy, always according to information from the Africa Agency.
Source: senego / Photo credit: Republicoftogo.com
BUSINESS
GABON – The end of frozen chicken imports in 2027

The Gabonese government decided on Friday to ban the import of broilers in order to promote national poultry production and ensure food security, according to the final communiqué of the council of ministers chaired by the head of state, Brice Clotaire Oligui Nguema.
The ban will be effective from 1 January 2027, thus leaving a period of 18 months (1 year and 6 months) for actors in the sector to structure themselves, invest and prepare to meet national demand.
“This measure aims to restore domestic poultry production, boost agricultural investment, reduce food dependency and strengthen the trade balance,” the government hopes. Gabon also hopes to foster “the emergence of a network of rural jobs, the rise in quality of products consumed locally and the creation of an economic ecosystem around this sector”.
The government has also planned a detailed operational plan to be presented within 45 days by the ministers responsible for economy and trade.
Libreville dreams of reducing its dependence on poultry imports and strengthening the country’s food security. In addition, the promotion of local poultry farming should have a positive impact on rural areas, generating jobs and contributing to the development of a vibrant poultry ecosystem.
Imported frozen chicken is the most consumed food in Gabon because of its low price and packaging ready to be thrown into a pot.
“The star of the freezer” is how Gabonese people refer to frozen chicken because it is often the only food, if not the default food, found in the freezers of Gabonese families.
Frozen chicken and meat are generally imported from Latin America and Europe. Their massive presence on the market has destroyed local production.
The Council of Ministers also announced a ban on exporting crude manganese from 1 January 2029. The objective is to promote local industrial development, create jobs and maximize the value of this resource, of which Gabon is the world’s second largest producer.
Sources: gabonactu.com
BANK
BAD: Mauritanian Sidi Ould Tah takes the reins of the institution

Mauritania is in the spotlight. On Thursday, May 29, 2025, Sidi Ould Tah was elected president of the African Development Bank (AfDB), at the annual meeting of the institution held in Abidjan. He succeeds Akinwumi Adesina of Nigeria, in office since 2015.
His election came after a hard-fought duel against Samuel Munzele Maimbo of Zambia, who finished in second place. The election, which was marked by major geopolitical and economic issues, took place against a background of high expectations regarding governance and development financing on the continent.
The Senegalese Amadou Hott, long perceived as one of the favorites, finishes in third place, followed by the South African Bajabulile Swazi Tshabalala. Despite significant diplomatic support, notably for Hott, the momentum in favour of Sidi Ould Tah has prevailed in the last few rounds.
Former minister and general manager of the Arab Bank for Economic Development in Africa (BADEA), Sidi Ould Tah is recognized for his experience and strategic vision. He will officially take office on 1 September 2025.
Photo credit: Forbes Africa
-
POLITICS4 weeks .
SENEGAL – The national dialogue enters a decisive phase with the installation of three commissions
-
IVORY COAST3 weeks .
IVORY COAST AFRICA – The PDCI-RDA march postponed to June 14 to support Tidjane Thiam
-
CULTURE3 months .
SENEGAL – Alune Wade: “Boogie & Juju”, a transatlantic swing from Lagos to New Orleans
-
ART1 month .
SENEGAL – Ousmane Sow’s massive sculptures enter the Vauban fort at Mont-Dauphin
-
RELIGION4 weeks .
IVORY COAST: All about the date of the Tabaski 2025
-
BUSINESS2 weeks .
TOGO – The manganese mine of Nayega enters into operational phase
-
CENTRAL AFRICA2 months .
GABON – Brice Oligui Nguema, acclaimed, launches the Fifth Republic
-
CULTURE3 months .
SENEGAL – Camille Bounama Sylla, a former “paperless” who moves the lines