BUSINESS
UGANDA: The country could become a major player in oil and gas in Africa
Uganda affirms its intention to become a major player in oil and gas. This will automatically catapult Uganda into the largest crude oil producer in East Africa, and provide much-needed income for development and creation
NAIROBI, Kenya, 23 April 2020/ — President Museveni, and the Ceos of Tullow Oil and Totel, could not have chosen a better time to announce their agreement to resolve a long-standing capital gains tax dispute that had previously prevented Tullow Oil from licensing Lake Albert to Total.
Tullow Oil, a junior oil company, announced that it had agreed to sell all of its stake in the Lake Albert development project in Uganda to Total’s main oil company for $575 million. This is good news for both companies, Uganda and the oil industry around the world and in Africa in particular, all of which are going through a period of distress in the face of Covid-19 and falling oil prices.
This will automatically catapult Uganda into the largest crude oil producer in East Africa, and provide much-needed income for development and creation. The World Bank’s current estimates expect Uganda to record annual growth rates of more than 10% resulting from oil production and related activities. This agreement shows a lot of foresight to make an acquisition of this nature at such an incredible but reasonable price. The dispute settlement that paved the way for this agreement must be welcomed. President Museveni, Tullow Oil and Total understood that being proactive and making concessions is good for Uganda, jobs, contracts for residents and regional growth,” said NJ Ayuk, President of the African Chamber of Energy.
More importantly, the agreement sends the right signals to the market and investors that despite the current challenges, Uganda is open and ready to do business. In line with the African Chamber of Energy’s call on governments to be flexible in assessing existing projects in the current business environment, the Government of Uganda, with the direct participation of President H.E. Yoweri Kaguta Museveni, was willing to cede ground and conclude the agreement. This is good for Uganda and an example for other African countries facing the oil crisis to followIt is likely to have positive effects well beyond the current crisis, with more and more explorers and oil companies likely to review Uganda’s licenses in an attempt to replicate the successes of Tullow Oil’s discoveries.
The agreement is also a huge boost to the construction of a pipeline that will transport crude to international markets. “The Uganda/Tanzania pipeline project itself will not only create additional jobs, but will also make the entire country viable as a major oil border. This is a big win for the local and regional oil and gas industry and propels the East African region to play a role in helping the energy sector rebound,” said Elizabeth Rogo. President of the African Chamber of Energy for East Africa.
We’ll probably see other oil companies like Oranto Petroleum drilling additional exploration wells in adjacent blocks to take advantage of the pipeline infrastructure. The pipeline also increases the attractiveness of oil blocks in southern South Sudan, a neighbouring oil producer.The potential discoveries there are now likely to reach a lower neutral point, due to the reduction of channelling costs via Uganda.
While acknowledging the Ugandan government’s willingness to compromise on this particular tax dispute, allowing this revolutionary transaction.The African Chamber of Energy continues to advocate for additional special measures that will facilitate a final investment decision by Total and its partners, and the deployment of capital for other drilling and geophysical projects in Uganda in the current business climate. We urge the government to continue to work with industry to improve the business climate to increase investment in oil and gas.
Source : AfricainInfo / Par APO
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
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
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
