Nigeria: Buhari set to sign Africa free trade pact
July 4, 2019 | 0 Comments
By Teslim Olawore
President Muhammadu Buhari will sign the landmark African free trade agreement during the upcoming African Union meeting in Niger.
The information was revealed in a tweet that was posted on July 2nd by the office of the presidency.
“Nigeria will sign the #AfCFTA Agreement at the upcoming Extraordinary Summit of the African Union in Niamey, Niger,” the presidency tweeted.
African leaders will meet for the AU meeting in Niamey this weekend.
Nigeria had been a key backer of the plan to progressively reduce trade barriers on the continent since talks on the African Continental Free Trade Area got underway in 2002.
However it abruptly changed course shortly before the deal was signed last year following pressure from local unions and businesses fearful that they would be uncompetitive if trade barriers are dropped.
Last week, a special government panel formed to study the potential impact of joining AfCFTA, recommended that Buhari sign Nigeria up.
The trade deal “provides immense opportunities for Nigeria’s manufacturing and service companies to expand to Africa,” the panel’s chair, Desmond Guobadia, said in a statement after submitting its report.
AfCFTA formally came into force at the end of May, after the required minimum of 22 countries ratified the ambitious plan to boost intra-African trade, which has long suffered by high tariffs.
It hopes the progressive elimination of tariffs will help boost regional trade by 60 percent within three years. At present, only 16 percent of trade by African nations is with continental neighbours.
Nigeria is one of only three of the AU’s 55 member states to not have signed up to AfCFTA, with other African economic heavyweights such as Egypt, Ethiopia, Kenya, and South Africa having ratified the pact.
Cameroonian appointed head coach of South Sudan Football team
July 3, 2019 | 0 Comments
From Amos Fofung
Cameroonian-born football trainer, Ashu Cyprian Besong was on Monday appointed by the South Sudan Football Association, SSFA as head coach of the country’s national football team.
Initially, Ashu Cyprian Besong, was Cameroon’s U-20 head coach. Taking up his new job, he will replace caretaker coach Ramzi Sebit.
“Ashu Cyprian Besong of Cameroon will be appointed as the coach for South Sudan national team coach. He is confirmed to arrive Juba, tomorrow (Tuesday) to take up his new assignment,” the SSFA said on its official Facebook page.
The coaching position has been vacant since September 2018, following the resignation of Algeria’s Ahcene Ait-Abdelmalek just seven months after his appointment.
Besong becomes South Sudan’s fifth foreign coach following the departure of Ait-Abdelmalek, South Korea’s Lee Sung-Jea, Serbian Zoran Dordevic and Uganda’s Leo Adraa.
Obsession over customers, not competition – The Impeccable Strategy
July 3, 2019 | 0 Comments
By Jude Adeyinka
The preliminary theme of the most competitive analysis is a question: Who is your competition? That’s because most companies view their competition as another brand, product, or service. However, insightful leaders and establishments go extensive.
The question is not who your competition is but what it is. The realistic response to this is this: Your competition is any and every difficulty your consumers bump into along their journeys to using your company’s products. To reinforce my point, I will give a little illustration.
When I read about the fintech industry in Nigeria – I see a lot of work done from all the top players in the sector. I am particularly impressed by what I read and perceive Renmoney on the country’s media. So when I visited Nigeria, I wanted to get a first experience of the brand. I was going to review from afar the work that fintechs in Nigeria do. In fact, Renmoney was top of the mind for me.
Renmoney operates under the licence of a Microfinance bank but is in practice a fintech lending company. I must say that to have communicated their brand as fintech was indeed a customer-centric idea that I found creative. How else do you want to effectively approach and cater to the public if you drag the tag microfinance around you? Everyone knows how it is such a turnoff.
During my last visit to Lagos, sometime in March this year, I was impressed by the firm’s advertising strength but then that was not all. In fact, much more than that, I was impressed with the perception of most people interacted with about the brand. Having a combination of a mobile kiosk, an online platform and the usual brick-and-mortar are clear indications that this fintech company is headed for a more disruptive 2020. A clear indication of this is Renmoney’s mobile kiosk that I saw around some parts of Lagos from Surulere to Ajah and some other locations. These are the locations I can recall. This service was singularly bringing credit to the public. Imagine, thinking you need the money and as you turn around, you sight a Renmoney mobile lending kiosk. Brilliant, right?
At the end of the day, it’s your customers who have the ultimate idea of what is good and bad about your services. It’s your customers who buy your products; and in all truth, it’s your customers who will keep you in business. There are four good questions to answer in learning about your customers.
- Who are they?
- What motivates their behaviour?
- Where do they spend most of their time doing and at where?
- What are they saying about you?
Let’s start getting to know your customers, as intimately as possible. In fact, obsess over them.
Amazon CEO Jeff Bezos once said, “If we can keep our competitors focused on us while we stay focused on the customer, ultimately we’ll turn out all right.”
Rwandans forced Third Term on me-President Kagame
July 3, 2019 | 0 Comments
By Maniraguha Ferdinand
President Paul Kagame of Rwanda said he did not want to run for a third turn before Rwandans begged him to do so.
He revealed this on Tuesday afternoon during a press conference ahead of Liberation Day ceremony which comes on 4th July.
In 2015 Rwanda hold a referendum which amended the Constitution, and incumbent president was allowed to run for other terms beyond two.
As a Rwandese Patriotic Front flag bearer, Kagame won 2017 presidential elections with 98 %.
Opposition alleged him of amending the constitution to cling on power which he has held since 2000.
Speaking to local and international journalists, Kagame said it was against his will to run for another term.
“It’s an open secret that I didn’t want to continue. Even people in my party who I interacted with, my view was on one side and theirs on the other. I asked them to keep thinking differently and to bring the same argument next time.”
Kagame who led rebel group that ended a 1994 genocide against the Tutsis, went on saying he is happy with the achievements the country is realizing under his leadership.
He said “I might be fitting into the accidental president context but while I am there, I have to do something. Before I became President I was a person who fought a real fight. Where I didn’t know whether I would survive the next day”.
President Kagame stressed that what brings him joy is “to be alive. To be on an everyday struggle to make this country better. At first you sacrifice and then you enjoy the sacrifice. I enjoy this fight to make this country better.”
The Constitution that was amended in 2015 allows Kagame who turns 62 next October, to run for presidency until 2034.
Malawi lands $70 million deal with World Bank over disaster management
July 2, 2019 | 0 Comments
By Joseph Dumbula, Blantyre Malawi
The Malawi Government has reached deals worth $70 Million ( 55 Billion Malawi Kwacha) meant to strengthen its capacity to deal with disasters and climate risks, a government statement has revealed.
The first part of the deal will assist in the developing a Disaster Risk Management Development Policy Financing (DPF) which will be to the tune of $ 40 million (Equivalent to MK 32 billion) and a Disaster Risk Management Development DPC with a Catastrophe Deferred Drawdown Option in the amount of USD 30million (MK23.3billion ) which is for future emergency.
“This will be achieved through policy and institutional reforms aimed at strengthening the Government’s coordination mechanisms, shock-sensitive social protection mechanisms, and financial capacity to respond to disasters as well as safeguarding public infrastructure.”the statement reads.
It adds: “Malawi has experienced success weather-related shocks whose impact has been significant. These shocks coincided with the fiscal consolidation process where Government has been trying to contain expenditure growth, grow revenues and limit domestic borrowing. Thus, Government has had limited fiscal space to respond, putting pressure on the budget and undermining the fiscal consolidation and macroeconomic gains realized in the past few years.”
According to the government of Malawi, the monetary support will go a long way in the realisation of Government’s agenda to enhance disaster and climate resilience particularly in the wake of Tropical Cyclone Idai which severely affected nearly half of the country’s geographic districts, impacting an estimated 975,600 people, and leaving about 732,000 of them at risk of food insecurity.
The government hopes that the programme will also support its efforts to shift from a disaster response approach towards a more proactive management of disaster and climate risks. The financing will support Malawi’s need for immediate liquidity in the wake of Tropical Cyclone Idai and if a subsequent catastrophic disaster strikes.
“On behalf of the people of Malawi, Government wishes to express gratitude to the World Bank for this timely support and assures the Bank that Government will endeavour to implement the programme in accordance with the provisions of the Financing Agreement as well as the Public Finance Management Act rules to ensure proper financial management and effective implementation to achieve its intended outcomes.” Concludes the statement.
Malawi was among Southern African nations struck by a devastating Cyclone Idai situation. Floods and rainstorms have also left thousands of Malawians destitute over the last few months, developments that have opened the need for more policies to address these fatal environmental occurrences.
Malawi: More Elections Protests Coming Up
July 2, 2019 | 0 Comments
By Joseph Dumbula
The Human Rights Defenders Coalition (HRDC) will this week lead yet another national wide protest against the results of the May 20 elections as the push to have Malawi Electoral Commission (MEC) Chairperson Jane Ansah step down continues.
The HRDC along with the Malawi Congress Party (MCP) and UTM are baying for the head of Ansah whom they accuse of leading in the administration of a ‘fraudelent’ election.
Accusations have also been flowing to Ansah that she was bribed by eventual winners the Democratic Progressive Party (DPP) to declare them winners, claims Ansah has strenously denied slamming her critics as only meant to tarnish her image.
The protests will be held on Thursday and Friday. They have been organised following another one last week but after Ansah had denied to step down, the HRDC has indicated it will not relent in the vigils so long as the MEC Czar resigns.
Elections in Malawi we’re characterised by annomalies huge of which was the use of erasing fluid Tippex which Ansah maintains was not purchased by the commission.
Figures were altered by officials managing elections in polling centers and media reports still suggest some of the figures surpassed the number of those that registered and cast their votes in the centers.
Meanwhile, there is a revelation that MEC Chief Elections Officer Sam Alfandika received up to MK4 Billion during the elections period from the DPP government.
Alfandika has since told the media that the money was not received as personal but in the name of the office and was meant to pay election officers.
As of now, there is a court case in which the UTM led by Saulosi Chilima and MCP led by Lazarus Chakwera want a rerun of the elections.
Chakwera only slipped to DPP’s Peter Mutharika with less than 200 thousand votes in the highly contested poll which Chakwera now believes was rigged.
Kenya:Collymore cremated at a Nairobi crematorium
July 2, 2019 | 0 Comments
By Samuel Ouma | @journalist_27
Ex-Safaricom CEO Bob Collymore’s body was cremated on Tuesday, July 2, in a private ceremony attended by family members and a few of his friends.
His body left a Nairobi Morgue in the morning and was taken to a crematorium where he was burnt at a temperature between 1, 000 and 2, 000 degree Celsius in the watch of his wife, children, mum, sister and a handful of family members.
The 61-year-old CEO succumbed to Acute Myeloid Leukemia yesterday, Monday, July 1 after battling the disease for almost two years.
The deceased was diagnosed with the cancer in October 2017 in the United Kingdom. He stayed in UK for nine months while receiving treatment before he resumed his duties last year July.
He continued seeking medication in various hospitals in the country until he departed according to the telco giant’s leadership. The dominant mobile operator in East and Central Africa fraternity expressed their sadness about his death and lauded his visionary leadership.
“It is a very sad day for us, it is not what we have been expecting but we have to accept the reality,” said Safaricom Board Chairman Nicholas Ng’ang’a.
“For nine years since he joined Safaricom, Bob has provided the company with visionary leadership and he was always passionate at whatever he did,” added Ng’ang’a.
President Uhuru Kenyatta led Kenyans in eulogizing the CEO. He said that Collymore’s outstanding corporate leadership will be missed in the country.
“It is with a deep sense of loss that I have received the sad news of the death of Safaricom CEO Robert William Collymore this morning. In the moment of great sorrow, my thoughts and prayers go out to his family, relatives, friends and the staff of Safaricom,” said the President.
The deceased was born in 1958 in Guyana. He lived with his grandmother until he was 16 when he relocated to UK to stay with His mother.
The businessman schooled at Selhurst High School in London and He worked with a number of companies around the in Japan, South Africa and United Kingdom before joining Safaricom in 2010.
He also served on a UN commission on life saving commodities for women and children, board of Acumen, Kenya Vision 2030 board, the United Nations Global Compact Board and a Founder Trustee in the Kenya’s National Road Safety.
He was a member of the B TEAM, a non-profit initiative established by a global group of business leaders to provide a better way of doing business, for the well-being of people and the whole world.
Meanwhile, Michael Joseph has been appointed as interim CEO until the right candidate is found.
Joseph is the current chairman of Kenya Airways and the former outfit’s CEO.
“Following the passing of the company’s CEO, at a special board meeting of the directors, the board resolved to appoint Michael Joseph, a board member of the company as the intericm CEO with immediate effect,” read the statement issued by Karthryne Maundu, the company’s secretary.
Collymore left behind a wife and four children.
Harare informal traders seek to find common ground with city authorities
July 2, 2019 | 0 Comments
By Wallace Mawire
The old adage that if you cannot beat them, join them, seems to be running true for Harare’s informal traders popularly known as vendors.
Used to running battles with municipal police and illegal and unsanctioned vending on the streets, verandas and pavements of the Central Business District (CBD) of the city of Harare, the informal traders are now saying that it is time find each other and work with the local authorities for inclusive development and modernization of the city with global trends.
The Vendors Initiative for Social and Economic Transformation (VISET) is working on an initiative to promote the participation of vendors in economic policy and legislative processes. The initiative focuses on inclusion of informal traders in city planning and design and promotion of inclusive cities.
VISET has commissioned a survey conducted by O’Brien Makore, an urban planner on inclusive city planning and design.
According to Makore, the changing urban dynamics, the scale of physical development and the globalizing world economy creates new challenges for informal traders.
“Informal traders are faced with the changing political, economic and social contexts as wells as increasing competition for space,” Makore said.
He added that despite all this, informal traders provide affordable goods, flexible link to supply chains, spur entrepreneurial spirit and give vibe to urban streets.
“Yet, informal traders exacerbate congestion at busy sites and they also lack decent trading facilities,” Makore said.
Makore said that vendors themselves have solutions to the emerging adaptive challenges and inclusive design processes. It is reported that based on the right to the city paradigm, VISET conducted a baseline survey meant to ascertain the real situation on the ground and the possible solutions.
According to Makore, inclusive cities is about rights of all urban inhabitants to access the benefits of urban life, including informal traders.” As such, it is critical to sustainably integrate the informal sector into the current urban set-up,” he said.
The survey has also revealed that globally, cities are embroiled in a liquidity crisis resulting in increasing rate of unemployment.
The current context in African cities highlights the relevance of collaborative planning, that is collaboration planning between residents, civil society, planners as well as political representatives.
It is reported that Harare as the capital city of Zimbabwe is facing a plethora of challenges which replicate the current economic, political and social context, according to Makore.
The study used a mixed methods research which combined both quantitative and qualitative methodologies. It combined interviews and two community meetings which were conducted in Harare and Chitungwiza with members of VISET.
This was part of the participatory design process of decent trading spaces as well as a platform to solicit the views of the informal traders, according to Makore.
The study targeted at least 60 informal traders selected by stratified random sampling across greater Harare.
Problems of the informal sector in Zimbabwe include lack of adequate market spaces, lack of utilities such as toilets, water, shelter and electricity at their market spaces, exorbitant rates for market spaces, lack of capital to scale-up their ventures, damage and confiscation of goods by police, harassment by police and corruption by the law enforcement agents.
Solutions proffered by informal traders include adequate and decent market spaces, an organized licensing system, affordable rates for market spaces, refurbishment of existing local market spaces, updating of current municipal policies and by-laws so that they speak to the growing needs of the informal economy.
Time and space sharing on selected streets and natural markets, pedestrianization of more streets to create enough market spaces, development of incidental spaces, identified through community-led design and professional conduct by law enforcement agents in their uniforms.
The anticipated design process includes adjacent land uses, existing access for pedestrians and auto-mobiles, nearby landmarks that draw people to the areas, type of market for example city level, neighbourhood level, roadside and bus-termini, just to mention a few and main goods sold such as vegetables, perishables or consumer goods such as clothes and household items.
Outcomes expected by Informal traders revealed in the survey during community meetings include halting of evictions and damage of their goods, reduced police bribes, secure decent space for vending, increased sales and higher income and reduced harassment.
Through their input in the survey results which are planned to be handed to the city authorities for consideration, the informal traders have proposed urban design and planning innovations focusing on frontage areas, pedestrian areas, vending areas, service lanes and elevation views.
The study revealed that 20% of informal traders are within the age range of 15 to 44 years while 43% are within the age range of 15 to 44 years while 43% are within the age group of 35 to 44 years and only 12% are within the age range of 45 to 54 years.
It highlighted the need for a gendered dimension of the informal traders with 62% being female and only 38% being male. The need to strengthen a gender policy in the informal sector has been highlighted.
On location of trading sites the study revealed that 63% of informal traders in Harare operate outside their locations of residence, with the bulk operating within the CBD.
“This is due to high sales opportunity and proximity to clients the CBD offers if compared to neighbourhood markets,” Makore said.
It also revealed that 37% of informal traders operate within their locations of residence, particularly at local shopping centers.
He said that this presents great opportunity of decongesting the CBD by revitalizing the already existing local markets.
On operating areas, the study revealed that 96% of the informal traders operate on unregulated trading areas while a mere 4% operate on regulated trading areas.
Of the 96% operating on unregulated trading areas, lack of adequate ancillary infrastructure exposes both informal traders and their clients to serious health hazards.
It is added that the seemingly intractable situation at stake requires hard but necessary choices from both the informal traders and the local authorities.
It is added that informal traders need to ne innovative while the local authorities need to review the municipal policies.
On operating times and days, the survey revealed that 98% of informal traders operate from monday through saturday while some extend to Sunday.it is reported that in the same vein, 92% of informal traders operate from morning to evening time.
According to the survey it is reported that this clearly affirms to the notion that the informal sector is a major contributor to the urban economy, hence the need to effectively integrate into the sustainable urban set up.
It is also reported that the planning and design of trading spaces has to conform to the critical reality and view the urban informal sector as a long term phenomenon which there to stay.
On classification of informal traders, it is reported that 46% are blue-collar informal traders who sell consumables, 38% being green collar informal traders who sell perishable goods.
Sixteen are reported to sell both consumer and perishable goods. It is reported that this is critical bearing on the design of trading facilities especially in the CBD considering that blue collar informal traders require semi-permanent market structures while their counterparts the green collar informal traders are somewhat flexible and can operate effectively on moving market structures.
On pricing issues it is reported that the majority 98% of informal traders are willing to pay trading rates and the prevailing market prices are beyond their financial muscle, hence they opt for unregulated trading spaces. The study also revealed that while some were able to pay as much as US$20 per month, the majority 94% are able to pay US$5 per month for the formal trading spaces. ”With this at stake, cost-effective trading stalls and refurbishment of existing local markets becomes very critical in addressing the challenge at hand,” the survey revealed.
Recommendations proffered by the informal traders in the survey include upgrading of existing neighbourhood markets into smart neighbourhood markets with all ancillary utilities, development of incidental spaces with the potential to attract customers. Pedestrianization of the entire Speke avenue into a vending hub connecting the down town with smart vending stalls, urgent review of municipal policies and by-laws such that they incorporate the ever-growing urban informal economy into the current city local plans and government support through enterprise trainings and development of new markets and provision of affordable loans, just to mention a few.
Liquid Telecom connects South Sudan to “One Africa” broadband network and the world
July 2, 2019 | 0 Comments
Transformative infrastructure will create a foundation for digital innovation and prosperity, while supporting the South Sudan Government’s positive economic growth forecast over the next decade
South Sudan, July 1, 2019 – Leading pan-African telecoms group Liquid Telecom will implement and operate South Sudan’s first fibre broadband network, connecting the country to the “One Africa” broadband network, which is approaching 70,000km across 13 African countries and to the rest of the world. This breakthrough foreign direct investment by Liquid Telecom has been recognised by His Excellency Salva Kiir Mayardit, President of South Sudan. Ministers along with other national VIPs are joining senior executives from Liquid Telecom during a symbolic fibre digging inauguration on Monday 1 July.
With phase one due to be completed before the end of 2019, Liquid Telecom’s network will eventually make reliable and affordable internet connectivity available for nearly 13 million citizens of South Sudan, as well as thousands of businesses, government institutions and non-governmental organisations. South Sudan will link to Liquid Telecom’s network across the region which covers the East African Community, a regional intergovernmental organisation of six partner states, the Republics of Burundi, Kenya, Rwanda, South Sudan, United Republic of Tanzania, and Republic of Uganda. The Community connects up to 300 million people and stimulates cross-border investment and trade.
This transformative infrastructure will ultimately create a foundation for digital growth, innovation and prosperity in this young country, while supporting the Government of South Sudan’s positive economic growth forecast over the next ten years.
“Liquid Telecom is immensely proud to bring fibre connectivity to South Sudan for the first time,” says Strive Masiyiwa, Executive Chairman of Econet Global and Liquid Telecom. “This modern ICT infrastructure will help address the most pressing challenges within South Sudan, including the urgent need for peace and state building, job creation and improved livelihoods. South Sudan’s 13 million citizens will be connected to 300 million people across the East African Community. Connecting South Sudan to the ‘One Africa’ broadband network will also champion pan-Africa trade and help build Africa’s digital future.”
His Excellency Salva Kiir Mayardit, President of South Sudan, commenting on this new partnership, says, “The implementation of this critical fibre infrastructure is a landmark step in the delivery of affordable communications access to the people of South Sudan, the business community, government and civil society. By connecting South Sudan to the global internet, this important infrastructure development will help improve social mobility, enable economic diversification and drive inclusive private sector-led growth and productive employment. The agreement is also ideally timed, coinciding with the signing of the Revitalised Agreement on the Resolution of Conflict in the Republic of South Sudan.”
The first phase of the agreement signed between the Government of South Sudan’s National Communication Authority and Liquid Telecom will include a 300km fibre backbone operating from the border of Uganda, through South Sudan, to Juba. Multiple metro clusters will also support the capital city. This first phase is scheduled to go live in the last quarter of 2019. The network will be expanded to other cities in subsequent phases, in time supporting the country’s 13 million citizens.
About Liquid Telecom
Liquid Telecom is a leading communications solutions provider across 13 countries primarily in Eastern, Central and Southern Africa that serves mobile operators, carriers, enterprise, media and content companies and retail customers with high-speed, reliable connectivity, hosting and co-location and digital services. It has built Africa’s largest independent fibre network, approaching 70,000km, and operates state-of-the-art data centres in Johannesburg, Cape Town and Nairobi, with a combined potential 19,000 square metres of rack space and 80 MW of power. This is in addition to offering leading cloud-based services, such as Microsoft Office365 and Microsoft Azure across our fibre footprint. Through this combined offering Liquid Telecom is enhancing customers experience on their digital journey. www.liquidtelecom.com
Telecoming will exclusively distribute the digital contents of Real Madrid through mobile operators in Africa
July 2, 2019 | 0 Comments
The famous Spanish club chooses a partner with extensive experience in technologies to distribute and monetize digital content in the African mobile environment
MADRID, Spain, July 1, 2019/ — The alliance means the arrival in Africa of the official Real Madrid mobile offer; The famous Spanish club chooses a partner with extensive experience in technologies to distribute and monetize digital content in the African mobile environment.
Telecoming (www.Telecoming.com), the European technology company specialized in digital services monetization, has signed an agreement with Real Madrid to become the exclusive distributor through mobile operators of its digital content in Africa. This agreement will allow Telecoming to enhance its presence across the African market in which it operates since 2015.
Real Madrid, the most valued football club in the world (€1.646M according to Brand Finance), relies on Telecoming to offer through mobile operators in Africa, a better and unique digital experience. Telecoming also provides the technology needed to monetize this service through carrier billing and will promote it through its internal AdTech agency.
Cyrille Thivat, CEO of Telecoming, explains “we are happy to be the exclusive partner of Real Madrid C.F. that has relied on Telecoming for our know-how in terms of distribution, production and monetization of mobile entertainment services. We will rely on the extraordinary dynamism of the African market and its maturity towards mobile payments to successfully promote Real Madrid’s digital content offer “.
Telecoming has the exclusive license of the club’s mobile content in other European countries and will intend to develop with success its collaboration with Real Madrid among the African fans.
Specialized in mobile payments since 2008, Telecoming (www.Telecoming.com) develops technology to monetize digital services. The company works hand in hand with the main mobile operators to create solutions focused on improving the complete mobile customer journey: from the advertising to the payment. Finally, the company will continue leading the direct carrier billing market through innovation in new digital payment alternatives across the world. The London Stock Exchange has acknowledged the firm as one of the most Inspiring European Organizations. Moreover, it’s among Europe’s 500 fastest growing companies, according to Morningstar’s Inc. 5000 Ranking, 2018.
African Energy Chamber’s Investment Push in China is Met with Tremendous Success
July 2, 2019 | 0 Comments
Equatorial Guinea Presents Open Oil, Gas and Mining Licenses in Successful Roadshow in China
July 2, 2019 | 0 Comments
H.E. Gabriel Mbaga Obiang Lima thanks Chinese Embassy in Equatorial Guinea, African Energy Chamber and Ministry of Mines and Hydrocarbons staff for a highly-successful roadshow
BEIJING, China, July 2, 2019/ — EG Ronda Licensing Round Roadshow in China was met with tremendous success as over 100 Chinese investors participate and discuss investment in oil, gas and minerals with the Ministry of Mines and Hydrocarbons’ delegation ; H.E. Gabriel Mbaga Obiang Lima thanks Chinese Embassy in Equatorial Guinea, African Energy Chamber and Ministry of Mines and Hydrocarbons staff for a highly-successful roadshow
The Ministry of Mines and Hydrocarbons held a successful investment drive in China with Chinese investors in an event organised by the Africa Energy Chamber today in Beijing, China.
The Ministry officials delivered presentations on the current EG Ronda Licensing Rounds 2019 for oil & gas and mining & minerals to a prestigious audience of Chinese investors and stakeholders. Over 100 participants from the biggest Chinese energy companies, notably including CMEC, CPP, CNOOC, PowerChina, Sinochem, Sinopec, Zhenhua Oil and China Minmetals responded to Equatorial Guinea’s invitation to come and invest in the country.
“The EG Ronda Roadshow in China is a tremendous success. We have met with very serious investors who believe in the immense hydrocarbons and mining potential of Equatorial Guinea and are ready to invest, we will announce agreements very soon,” declared H.E. Gabriel Mbaga Obiang Lima. “This will ensure additional investment into our oil & gas sector, and more importantly help develop our mining and minerals industry and create jobs.”
Equatorial Guinea showcased 27 oil & gas blocks on offer under the EG Ronda Oil & Gas Licensing Round 2019, including EG-27 (former Block R) and EG-23 for appraisal and development. It also offers an opportunity for exploration and mining companies worldwide to apply for exploration rights in the Rio Muni area, which is highly prospective in minerals such as gold, diamonds, base metals, iron ore and bauxite.
“The leadership H.E. President Teodoro Obiang Nguema Mbasogo and the reforms of our government to provide a stable regulatory framework and attractive business environment have been key to attracting Chinese investors,” added H.E. Gabriel Mbaga Obiang Lima. “We wish to thank everyone who made this roadshow a great success, including the Chinese Embassy in Equatorial Guinea, the African Energy Chamber and all the Ministry of Mines and Hydrocarbons staff.”
The bidding deadline for the EG Ronda Licensing Round has been set for September 27th, 2019. Winners will be announced at the much-anticipated Gas Exporting Countries Forum’s 5th Gas Summit in Malabo on November 27th, 2019.