Risking All

The nation’s insurance sector in Nigeria is losing a sizeable percentage of the big risks in the oil and gas industry to foreign underwriters due to lack of the full implementation of the Local Content Act.  Read more here: https://guardian.ng/news/local-insurers-lose-90-of-big-risks-to-foreign-firms/

On Suspension

Investigations – by Malawi Anti-Corruption Bureau (ACB) – on suspicious donations allegedly made to former president Joyce Banda’s Mudzi Transformation from Rakgas in exchange for the controversial awarding of exploration licenses for oil blocks has been suspended due to insufficient resources. Read more here: https://southernafrican.news/2017/08/14/malawi-stalls-probe-on-oil-contracts/

The Rising

Ghana’s oil production for the first half of 2017 witnessed an astronomical rise in revenue by 67% compared to the same period in 2016. Read more here: http://citifmonline.com/2017/08/14/ghanas-oil-revenue-rises-by-67-in-first-half-of-2017-bog/

Smart Moves

The recent launch of the construction of a crude oil pipeline from Hoima in Uganda to Tanga in Tanzania by the president of both countries has gained traction as the National Economic Empowerment Council (NEEC) in Tanzania is planning to start educating its citizens on ways to take economic advantage of the project. Read more here: http://www.thecitizen.co.tz/News/Business/NEEC-mulls-public-awareness-campaign-on-pipeline-project/1840414-4056626-boevy5z/index.html