Connect with us
Anglostratits

Business

Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

Published

on

The African Energy Chamber

In an exclusive interview with the African Energy Chamber, Foday B. L. Mansaray, Director General of Sierra Leone’s Petroleum Directorate, spoke on the country’s exploration agenda to develop its hydrocarbon-rich, ultra-deep basins

JOHANNESBURG, South Africa, March 27, 2023/APO Group/ — 

The African Energy Chamber (http://www.EnergyChamber.org) – the voice of the African energy sector – spoke with Foday B. L. Mansaray, Director General of the Petroleum Directorate of Sierra Leone, in an exclusive interview on the country’s latest oil and gas developments. These include a fifth licensing round launched last May, ongoing evaluation of its gas prospects, streamlined concession terms, and an upcoming wildcat and appraisal well to be drilled later this year. 

What is the current state of Sierra Leone’s oil and gas industry?

We are still a nation in its infancy and we want to get to a stage where we can commercialize our oil and gas reserves. Over the past years, we have managed to streamline the process for application to conduct exploration works. So far, we have a Nigerian independent in our basin which – in its first evaluation conducted last year – has highlighted gas prospects. With the energy transition taking center stage, having gas in our energy mix will be crucial in driving energy security and sustainability.

Last year, Sierra Leone launched its fifth licensing round to kickstart new exploration in the country. How has engagement with operators been to date?  

The licensing round closes at the end of September and has been an excellent round so far, with very strong interest from majors, IOCs and independents that have already looked at our data and are conducting data and financial evaluation. We have 56 graticules and 63,000 ㎢ in area on offer. We also have hydrocarbon-rich, ultra-deep basins on offer through direct negotiations. We want technically-sound companies to partner with – those that can drill and have the capability to progress our exploration agenda. Our entire basin is covered with 3D and 2D data, hence there is a strong foundation for companies to advance and fast-track exploration.

How does your latest licensing round differ from previous rounds and from others being launched across the continent?

We are determined to make this round the most successful licensing round we have ever had. The conversation around energy transition is shifting slightly, with major companies approaching us to participate. We have reduced the red tape for companies to come in with very simple and straightforward terms. We have only three non-negotiable terms: a corporate income tax of 25%; a 10% royalty for oil and 5% royalty for gas; and a petroleum resources tax. The barriers to entry are very low. The period from application to ratification is 85 days, hence we have heavily improved our application period. We are also positioned within the Office of the Presidency and are very quick and nimble at making decisions.

Sierra Leone’s basins are similar to Guyana’s where huge discoveries have been made, and we are positive that we will attract major IOCs and a few independents. Once we open our doors for them to enter, we expect more firms to flood into our sector. We are willing to learn from neighbors such as Namibia and Angola to enhance our sector growth.

A key part of industrialization is driving access to energy

How is Sierra Leone prioritizing local content and skills development as its energy sector develops?

Our local content laws are very strong and the area is a very important aspect regarding how we want to develop our industry. We have existing Memoranda of Understanding (MoU) with Equatorial Guinea, The Gambia and Ghana. Last year, we sent 18 people for training in Ghana from different departments. We want to capacitate local content into our sector and ensure that we have as many qualified Sierra Leoneans as possible wherever there is a gap. We also want to focus on African local content with our neighbors because local content is key to driving industry growth. We have many programs and training that we offer around petroleum engineering and geology.

How is Sierra Leone balancing the energy transition with its need for energy security?

Our plan is to not leave our oil and gas resources in the ground. A key part of industrialization is driving access to energy. We are aware of climate change, and as we develop our resources, we will make sure our sector is ready for future business models and low-carbon operations. Our resources are more useful in shaping the energy transition and economic development when they are on the surface than in the ground, hence we will continue with drilling, development and monetization of our resources.

How is the Petroleum Directorate serving to attract new investment?  

We are very active in terms of attracting investments and promoting opportunities within Sierra Leone. We are not just waiting for investments to come to us – we are going where they are. We had very fruitful meetings and conversations with companies in Qatar around natural gas, and we will be chatting with two Italian IOCs. The industry is competitive and we need to be actively seeking investors.

What are the key investment opportunities within Sierra Leone’s energy value chain?

We have recently made a discovery with a small-to-medium upstream company and are looking for companies willing to develop that to meet our in-country energy needs. We have also signed an MoU for the development of the Nigeria-Morocco-Niger Gas Pipeline for us to tap into – as well as feed into – that pipeline to meet our demands. In the downstream sector, we are ensuring fuel security with the development of more pipes to import more fuels. The key area that will give us energy independence is exploration.

With the 2023 edition of African Energy Week being held this October, what message will you be sharing during the event and what deals do you hope to be signed?

We are closing the licensing round around the time of African Energy Week (AEW) and we plan to sign the agreements during the event. We are currently speaking to one supermajor and we want AEW to be the platform where we make a huge announcement. With the Nigerian company that is already in the basin, it will start drilling a wildcat and appraisal well later this year, so we also plan to announce the size and scope of its discovery at AEW.

Distributed by APO Group on behalf of African Energy Chamber.

Business

Aurionpro expands its multi-country transaction banking engagement with Diamond Trust Bank (DTB)

Published

on

Aurionpro

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers

MUMBAI, India, April 30, 2026/APO Group/ –Aurionpro Solutions Limited (www.AurionPro.com) (BSE: 532668 | NSE: AURIONPRO)a global leader in banking technology, announced the expansion and upgrade of its transaction banking engagement with Diamond Trust Bank (DTB), to modernize and enhance the bank’s corporate transaction banking capabilities across multiple countries.

Download Document: https://apo-opa.co/4edHUaC

This multi-country transaction banking upgrade covering Kenya, Uganda, and Tanzania aligns with DTB’s intent to enhance customer experience, streamline operations, and support growing transaction volumes as it expands its regional corporate banking footprint. DTB continues to focus on building a more agile, ‘digital-first’ banking experience, particularly around payments for its corporate customers across Africa, and is now well positioned to scale these capabilities. As part of its broader transformation agenda, the bank has been steadily investing in platforms that enhance scale, reliability, and service consistency across markets.

Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers. By enabling DTB to standardize and scale its transaction banking operations across countries, the platform ensures consistent service levels, stronger control, and improved efficiency. It also supports enhanced user experience, advanced security, and the flexibility to introduce new features as DTB expands its regional transaction banking footprint.

Murali Natarajan (https://apo-opa.co/48trPdk), Managing Director & CEO, DTB Kenya   commented: “We are delighted to strengthen and broaden our partnership with Aurionpro Solutions as part of DTB’s ongoing digital transformation journey across multiple markets. Our focus on innovation, operational excellence, and customer-centricity continues to guide our technology investments. This upgrade strengthens our transaction banking capabilities, enabling us to deliver greater value to our customers through robust digital channels and seamlessly integrated experiences.”

Ashish Rai, Group CEO, Aurionpro Solutions, commented: “We are pleased to deepen our multi-country engagement with Diamond Trust Bank and support the next phase of its transaction banking modernization. As DTB continues to scale across markets, platform resilience and consistency become paramount. Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility, deliver superior experiences to corporate customers, and create long-term value across geographies.”

He added, “Aurionpro’s iCashpro lays a strong digital foundation for transaction & wholesale banks across the globe to grow their corporate and SME client portfolio today, while creating a clear roadmap for next- generation capabilities in AI-driven insights, advanced automation and API-led connectivity for businesses in Kenya and across Africa.”

Distributed by APO Group on behalf of Aurionpro Solutions Ltd.

 

Continue Reading

Business

Minerals Council Chief Executive Officer (CEO) Joins African Mining Week (AMW) as South Africa Improves Sectorial Investment Climate

Published

on

Energy Capital

Minerals Council CEO to share insights on policy, infrastructure and investment trends shaping South Africa’s mining industry

CAPE TOWN, South Africa, April 30, 2026/APO Group/ –The upcoming African Mining Week (AMW) conference will feature Mzila Mthenjane, CEO of the Minerals Council of South Africa, as a speaker. Scheduled for October 14 – 16, 2026 in Cape Town, the event will bring together global investors, policymakers and industry leaders, with Mthenjane’s participation highlighting the council’s commitment to engaging international stakeholders and promoting investment across South Africa’s mining sector.

His participation comes at a critical moment as the Minerals Council works closely with government on finalizing the Mineral Resources Development Bill 2025, a policy framework aimed at strengthening the country’s mining investment climate and the sector’s contribution to GDP. According to the council, the revised legislation will support new investment across the value chain as South Africa seeks to mobilize R2 trillion over the next five years to unlock its critical minerals potential.

The policy reforms come amid shifting production trends in the sector. In 2025, South Africa recorded declines in gold and platinum group metals output of 1.9% and 4.1%, respectively. The new regulatory framework is expected to strengthen public-private partnerships and stimulate investment, enabling South Africa to increase production and capitalize on strong global commodity prices. Increased private sector investments is crucial with South Africa seeking targeting to unlock an estimated R40 trillion in untapped iron ore potential as well as maintain its position as the world’s leading producer of chrome and manganese.

At AMW 2026, Mthenjane is expected to outline these trends, providing insights into how the council is contributing to addressing challenges disrupting the sector. Infrastructure and energy costs remain key concerns for industry players. To support the energy-intensive sector, South Africa approved a 35% reduction in electricity tariffs for major ferrochrome producers, helping stabilize an industry that has faced significant cost pressures after electricity prices surged by roughly 900% since 2008.

Logistics constraints are also a priority area for reform. South Africa’s economy is losing an estimated R1 billion per day due to inefficiencies across rail and port infrastructure. As a result, the government is considering measures supported by the Minerals Council to increase private sector participation in logistics. Planned reforms include rail modernization initiatives targeting 250 million tons of freight capacity by 2029, alongside port upgrades and private operator participation aimed at strengthening mineral exports and improving supply chain efficiency.

Beyond infrastructure and policy reforms, the Minerals Council is advocating for stronger exploration investment to support long-term industry growth.

At AMW, Mthenjane is expected to highlight these developments and outline the steps required to reinforce South Africa’s position in the global minerals supply chain. His insights will offer investors and stakeholders a timely perspective on opportunities within the country’s mining sector.

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Energy

Seychelles Targets Energy Investment Push as Minister Jérémie Joins African Energy Week (AEW) 2026 as a Speaker

Published

on

African Energy Chamber

Seychelles energy minister will speak at AEW 2026, positioning her to highlight reforms, renewable projects and investment opportunities as the island nation advances its transition toward a diversified energy system

CAPE TOWN, South Africa, April 29, 2026/APO Group/ –Marie-May Jérémie, Minister of Environment, Climate, Energy and Natural Resources for Seychelles will participate as a speaker at this year’s African Energy Week (AEW) 2026, taking place from October 12–16 in Cape Town. Her participation underscores the country’s growing role in shaping Africa’s small-island energy transition agenda.

Minister Jérémie’s presence at AEW 2026 comes at a critical time as Seychelles accelerates efforts to reduce its heavy reliance on imported fossil fuels. The event provides a platform to attract investment, strengthen policy alignment and showcase bankable projects, positioning the country as a viable destination for private-sector participation in island energy systems.

Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments

In May last year, international finance institution the World Bank approved the Renewable Energy Acceleration Program, a seven-year initiative aimed at modernizing the grid and increasing renewable energy penetration to 15% by 2030. The program focuses on unlocking private capital while strengthening transmission infrastructure to accommodate variable renewable energy sources.

Project development is gaining traction in the country, particularly in innovative technologies suited to Seychelles’ land constraints. The 5.8 MW Seysun Lagoon floating solar PV project, developed by independent renewable power producer Qair, is under construction and expected online in 2026.

Alongside renewables, Seychelles continues to pursue upstream opportunities to diversify its economy. The government approved new exploration entrants in 2025 and extended exiting petroleum agreements, while securing an infrastructure partnership with China. Multilateral estimates suggest over $800 million in investment will be required over the next 25 years.

Regulatory reform is central to this transition, with Seychelles introducing an independent power producer framework to open the market to private developers. Standardized power purchase agreements, grid access reforms and strengthened public-private partnership structures are being implemented to improve transparency, reduce risk and accelerate project bankability across solar, storage and emerging wind opportunities.

“Minister Jérémie’s participation highlights the strategic importance of island nations in Africa’s broader energy transition,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments. Her insights will be critical to advancing dialogue on resilient, low-carbon energy systems across the continent.”

Distributed by APO Group on behalf of African Energy Chamber.

Continue Reading

Trending