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Shell to Sell Nigerian Onshore Assets to Consortium: African Energy Chamber (AEC) Calls for Fast-Tracked Approval

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African Energy Chamber

The transaction showcases the effective transfer of oil and gas operations from international to local players

JOHANNESBURG, South Africa, January 16, 2024/APO Group/ — 

British multinational oil and gas company Shell has decided to sell The Shell Petroleum Development Company of Nigeria Limited (SPDC) – which owns onshore oil assets in Nigeria’s Niger Delta region –  to a consortium comprising mostly local energy players ND Western, Aradel Holdings Plc, First E&P, the Waltersmith Group, Petroleum Development Company Limited and Petrolin. The transaction is measured at $1.3 billion, with further payments of up to $1.1 billion set to be made. The sale will come into effect following the relevant approval from government.

As the voice of the African energy sector, the African Energy Chamber (AEC) strongly urges the government to take a fast-tracked approach to approving the deal. Delaying the transaction will only impact the growth of the industry, and Nigeria stands to serve as an example of how the successful transfer of oil assets from an international major to local players can advance the industry.

Local Nigerian companies will lead the next phase of the country’s energy industry transformation and we look forward to the success the consortium will have in the onshore market

The SPDC operates and supplies onshore and shallow water oil and gas to domestic and export markets. The company currently supplies about 10% of Nigeria’s domestic natural gas as well as operates a network of 3,173 km of flow-lines and pipelines. SPDC also has 263 producing oil wells, 56 producing gas wells, six gas plants, two major oil export terminals and one power plant. All of these assets are held through its Joint Venture with the Nigerian National Petroleum Corporation, TotalEnergies and the Nigerian Agip Oil Company.

For Shell, the transaction of these assets allows the British multinational to focus its attention on other critical assets within its portfolio. The company is looking at increasing investments in the Bongo and Erha fields – where nearly one-third of the country’s deepwater production is derived. Through the transaction, greater focus, capital and time can be given to these assets, resulting in both a more profitable and productive future for Shell in Nigeria.

“This agreement marks an important milestone for Shell in Nigeria,” Shell’s Integrated Gas and Upstream Director Zoe Yujnovich, explained, adding that the deal is “simplifying our portfolio and focusing future disciplined investment in Nigeria on our deepwater and integrated gas positions.”

Meanwhile, the sale of the SPDC to the local consortium offers several benefits, both for the consortium companies and the country as a whole. In addition to ensuring the continuous development of fields and infrastructure, the acquisition showcases the capacity of domestic Nigerian companies and will lead to enhanced job creation, revenue generation and technology transfer for the consortium itself. SPDC will also benefit from the expertise and experience of the local players, improving risk mitigation and greater social responsibility.

“The AEC strongly urges the government of Nigeria to approve the transaction, thereby transferring the onshore assets into the capable hands of the local consortium. For decades, the Chamber has been promoting the role local energy companies play in Africa’s energy industry and this transaction is a strong testament to this. Local Nigerian companies will lead the next phase of the country’s energy industry transformation and we look forward to the success the consortium will have in the onshore market,” stated NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.

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Liquid Intelligent Technologies revitalises access to cloud and cyber security services in support of improved national digital resilience

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These services will be available to existing and potential customers in Botswana, and at the centre of the new offering is Secure360, the company’s integrated security framework

GABORONE, Botswana, May 13, 2026/APO Group/ –Liquid Intelligent Technologies (https://Liquid.Tech), a business of Cassava Technologies, a global technology leader, brings cloud and cyber security solutions and services to businesses and enterprises of all sizes in Botswana. The announcement comes as Liquid celebrates a decade of operations in the country.

 

These services will be available to existing and potential customers in Botswana, and at the centre of the new offering is Secure360, the company’s integrated security framework that enables organisations to move beyond reactive breach response towards proactive intelligence, protection and assurance. The solution combines local delivery with continental-scale infrastructure and global technology partnerships to provide organisations with enterprise-grade digital security and cloud capabilities aligned with national digital priorities.

When organisations engage with Liquid Intelligent Technologies in Botswana, they are connecting to the strength of Cassava’s integrated digital ecosystem

“Over the last decade, Liquid has deployed over 1174.08 km of fibre, bringing multi-terabit capacity and unmatched resilience to the region. By establishing a 730km backbone along the A1 road, we’ve positioned Botswana as a critical hub, linking networks from Zimbabwe, South Africa, Kenya, Zambia, the Democratic Republic of Congo, and Sudan,” said Odirile Tamajobe, Managing Director of Liquid Intelligent Technologies Botswana. “Now, by bringing the cloud and cyber security services into the country, we are empowering local businesses with world-class digital solutions, ensuring they can compete and win on the global stage.”

The expansion of Liquid’s offerings in the market reflects the broader Cassava strategy to deliver integrated digital infrastructure and platforms through its One Cassava approach.

“When organisations engage with Liquid Intelligent Technologies in Botswana, they are connecting to the strength of Cassava’s integrated digital ecosystem,” said Ziaad Suleman, CEO of Cassava Technologies SA and Botswana. “Beyond cloud and cyber security, customers can access data centres, AI readiness reviews, and tailored technology journey roadmaps, all within a unified platform designed to support secure innovation and long-term digital resilience”.

As Botswana advances on its Vision 2036 ambitions to expand digital services across government, financial services, telecommunications, and critical infrastructure sectors, Cassava’s digital services aim to strengthen national digital resilience, fostering pride and confidence in the country’s progress.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

 

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Verdant IMAP Act as Financial Advisor and Arranger to Metro Africa Xpress (MAX) on its USD 8 Million in Debt Capital Raise

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The transaction establishes a foundation for further institutional capital deployment into the business

JOHANNESBURG, South Africa, May 13, 2026/APO Group/ –Metro Africa Xpress (MAX), Africa’s leading electric mobility platform, has secured USD 8 million in debt funding from Triple Jump, marking a key milestone in scaling its clean mobility operations.

Triple Jump, a Netherlands-based impact investment manager with a strong track record of financing inclusive financial institutions and clean energy businesses across emerging markets, represents one of MAX’s first international institutional lenders. Its participation underscores confidence in MAX’s operating model, asset-backed lending structure, and long-term scalability within Africa’s evolving mobility sector.

The funding will support:

  • Expansion of MAX’s electric vehicle (EV) fleet
  • Rollout of battery swap infrastructure
  • Continued development of its Pay-As-You-Go (PAYGO) financing platform

MAX’s model is designed to lower barriers to asset ownership for commercial drivers (“Champions”), enabling income generation through access to productive mobility assets while reducing operating costs relative to internal combustion alternatives.

Operating across Nigeria, Ghana, and Cameroon, with Nigeria as its core market, MAX is building an integrated ecosystem comprising:

  • Purpose-built EVs adapted for local conditions
  • Battery swapping infrastructure to address charging constraints
  • IoT-enabled fleet management systems
  • Embedded financing solutions for underserved drivers

Verdant IMAP acted as sole financial advisor and arranger on the transaction, supporting structuring, investor engagement, and execution. The transaction establishes a foundation for further institutional capital deployment into the business.

Distributed by APO Group on behalf of Verdant Capital.

 

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Rhino Resources Joins African Energy Week (AEW) as Gold Sponsor as Southern African Exploration Expands

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Rhino Resources will participate at the 2026 edition of the African Energy Week conference and exhibition – Africa’s premier event for the energy sector – as a gold sponsor

CAPE TOWN, South Africa, May 8, 2026/APO Group/ –Exploration company Rhino Resources has joined the African Energy Week (AEW) 2026 Conference and Exhibition as a Gold Sponsor, reinforcing its role as one of Africa’s emerging independents driving frontier and greenfield exploration across Southern Africa.

 

Scheduled for October 12–16 in Cape Town, AEW 2026 comes as Rhino Resources accelerates exploration activity across Namibia’s Orange Basin while broadening its footprint into South Africa’s Karoo Basin. The sponsorship reflects the company’s strategy to deepen engagement with investors, service providers and policymakers as it advances multiple assets toward development readiness and future final investment decisions.

At the core of Rhino Resources’ upstream momentum is its multi-well deepwater drilling campaign in Namibia’s Orange Basin – one of the world’s most prolific frontier exploration hotspots. The company is targeting FIDs between late 2026 and early 2027 across operated and partner-led assets, including the co-development of the Volans and Capricornus discoveries in Petroleum Exploration License (PEL) 85.

Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value

Recent drilling results have strengthened the commercial case of these Namibian assets. The Volans-1X well delivered strong gas-condensate flow rates in February 2026, while the earlier Capricornus-1X well confirmed the presence of light oil, positioning Rhino Resources among the key players contributing to Namibia’s ambition of achieving first oil production by 2030.

Beyond Namibia, Rhino Resources is broadening its portfolio through onshore exploration in South Africa’s Karoo Basin. The company is advancing a six-well campaign targeting helium, methane and hydrogen resources in the Free State Province – a move that reflects both geographic diversification and a wider strategy to support a more resilient and diversified regional energy mix.

This expansion comes at a time when Southern African economies face energy security challenges due to ongoing disruptions to global shipping routes, reinforcing the importance of unlocking domestic resource potential to support industrial growth and reduce external vulnerabilities.

Rhino Resources’ role as Gold Sponsor at AEW 2026 therefore comes at a pivotal stage in its growth trajectory. The event provides a platform to showcase its exploration progress, strengthen partnerships and position its projects within the broader African energy investment landscape.

At AEW 2026, Rhino Resources’ executives are expected to participate in high-level panel discussions, offering insights into frontier basin development, cost-efficient exploration strategies and pathways to fast-tracking project commercialization across emerging African markets.

“Rhino Resources represents a new generation of African-focused independents that are willing to take on frontier risk to unlock long-term energy value,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber. “The company’s recent discoveries in Namibia and expanding exploration strategy in South Africa highlight the scale of opportunity across the continent and the critical role independents play in translating resources into production, investment and economic growth.”

Distributed by APO Group on behalf of African Energy Chamber.

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